Overheard

Strong Law Firm, 901. E. Battlefield Road, is renovating the building at the northeast corner of East Chestnut Expressway and North Jefferson Avenue. The law firm purchased the 12,000-square-foot building in late August.

The firm hasn’t decided whether it will move its operations north or lease the space.

BTS Group Inc., a company that processes Social Security disability claims and appeals, currently occupies the building.

AAA Bond Ratings

Missouri is one of six states to receive the highest bond rating from all three rating agencies. Fitch Ratings, Standard & Poor’s and Moody’s Investor Service all gave Missouri AAA ratings. The rating means investors judge bonds issued by the state as being of the highest quality and having the smallest degree of investment risk.

Fitch Ratings noted that Missouri has a cautious approach to debt management and a long record of well-managed and balanced financial operations, according to its report. The five other states with AAA ratings are Utah, Delaware, Maryland, Georgia and Virginia.

Japan Connection

Missouri Gov. Matt Blunt and other state officials met with Japanese business leaders last week to promote the Show-Me State. Blunt, Missouri Department of Economic Development Director Greg Steinhoff, Missouri Chamber of Commerce President Dan Mehan and other state officials, were in New York City to attend the Japanese Chamber of Commerce and Industry’s annual dinner and meet with industry leaders. Japan is Missouri’s fifth-largest export partner. The state exported nearly $547 million in goods to Japan last year, and Missouri’s exports there have increased 76 percent in the last five years. Chemicals are the top export to Japan, followed by food and kindred products, transportation equipment, agriculture products, and minerals and ores. There are 70 Japanese-owned manufacturing companies in Missouri, which employ about 6,400 workers. For more on international business, see this week's story “Global Strides”.

State Revenue On Pace

Missouri’s net general revenue collections for October were up 5 percent compared to a year ago, the state reported last week. October collections were $525.5 million, compared to $500.3 million in October 2006. Fiscal 2008 year-to-date collections are at $2.44 billion, up 4 percent from $2.34 billion at this time last year. In the state report, Commissioner of Administration Mike Keathley said year-to-date collections are on pace to meet the numbers needed for the current budget. However, volatility in the national housing and financial markets may cause Missouri’s growth to slow, he warned.