Commentary: 2005 -- a glance at the local business scene

It was the year of $3 a gallon gas, but home prices shot skyward. Auto sales took a hit, but the stock market finished higher. New bankruptcy laws took effect -- and that's either good or bad, depending on whether you're a creditor or a debtor.

In the greater Cape Girardeau area, there was a bustle of business activity the past 12 months. And the next 12 months look good to Chamber of Commerce president John Mehner.

"We'll have continued steady growth here," he said. "We are rather insulated from the big economic highs and lows because of our business diversity. The wild card is energy prices. There are a lot of guesses out there."

Yes, there are a lot of guesses out there, but the following are some certainties -- positive ones -- that occurred here in 2005:

January -- Lone Star Industries purchased 27 acres of property near its Cape Girardeau plant, a move that increased the company's rock quarry by nearly a fourth and provided enough limestone for the next 15 years of operation.

February -- Union Planters Bank, which had two banks in Cape Girardeau, three in Jackson and one in Scott City, became Regions Bank as the result of a $6 billion merger. Meanwhile, First National Bank, with locations in Cape Girardeau, Jackson and Chaffee, changed its signs to Montgomery Bank to create a more consistent brand across its market.

March -- Rhodes 101 Stop announced it would build a new larger store near an existing Rhodes on North Kingshighway, then close the old Rhodes down and allow it to be developed for something else. The new Rhodes opened later in '05, and the old Rhodes was taken down.

April -- Kohl's new retail store opened in Cape Girardeau, along with 16 other new stores nationwide. The Cape Kohl's employs 185 workers.

May -- Three restaurants announced they were coming to Cape Girardeau: White Castle, a new free-standing Panera Bread and Olive Garden.

June -- The new Holiday Inn Express opened on William Street.

July -- This could be called the month of the orange cones on Broadway. Cape Girardeau's busiest street had lanes and other amenities added.

August -- Lots of work done on Broadway to enhance the entrance to Southeast Missouri State University. Even fountains were under construction.

September -- Texas Roadhouse opens its restaurant in west Cape Girardeau along I-55 near Doctor's Park.

October -- Sears Grand, a huge retailer, opened along Siemers Drive in Cape West Business Park. Officials announced a new airplane manufacturing firm, Commander Premier Aircraft Corp., would be coming to Cape Girardeau Regional Airport. Steve & Barry's, a clothing retail chain, opened at Westfield West Park, occupying an anchor spot that had sat vacant.

November -- Area retailers report promising signs of a strong shopping season for the coming holidays.

December -- Holiday sales were strong in the retail sector, with several area stores reporting the best Christmas shopping season in years. The post-holiday sales were boosted by the popularity of those ubiquitous gift cards.

Jim Obert is a staff writer of Business Today. jobert@semissourian.com