The Business Buzz: What business story was tops in 2008?

On Wednesday many Americans will join friends to ring in the New Year together.

Some will count down the minutes until midnight at New York City's Times Square. Others will spend time at a restaurant, participating in a midnight service at a local church or in front of their couch watching Ryan Seacrest host "Dick Clark's Rockin' New Year's Eve." I'll be preparing for my Nebraska Cornhuskers' Gator Bowl victory over Clemson — I hope.

But while New Year's Eve is usually a time of celebration, the day may be a time of sadness for those who have experienced misfortune in 2008. The new year marks a fresh start for all of us. We can hope 2009 will bring better economic tidings. By Dec. 31, 2009, it would be amazing to see how we've rounded the corner of the housing crisis or added hundreds of thousands of additional jobs.

Building on that, I'm seeking your thoughts on the top business stories of 2008. I'll be compiling a list and will announce the top newsmakers in an article or my next column. E-mail me your preferences from the following list, though I'm open to any additional stories that may have been not included among the choices. Submit your choices no later than 5 p.m. Wednesday.

— Area companies are forced to layoff employees, including Thorngate Ltd. with 350.

— Southeast Missouri Hospital and Saint Francis Medical Center go forward with cancer and heart centers.

— Cape Girardeau Regional Airport resumes passenger service with Great Lakes Airlines after losing Big Sky Airlines in January.

— Construction on the nation's largest cement plant in Ste. Genevieve County is on track for its scheduled completion next year.

— Orgill Inc. announces the home improvement products manufacturing facility will bring 350 jobs to Sikeston, Mo.

— Housing, banking and automobile industries weather the economic storm, with leaders claiming the situation is not as severe locally.

— Charities feel the effect of the recession.

• Huddle House coming to Jackson: If you've driven by the site of the old Jackson Diner near the Jackson Wal-Mart Supercenter, you may have noticed a sign in front of the building announcing that Huddle House is coming soon. I reported in an Oct. 7 blog that the restaurant had closed its doors and the owners of Jackson Diner were focusing their efforts on their other eatery, Fruitland Diner. Huddle House co-owner Robin Goehman told me Christmas Day they plan to open the restaurant sometime early next year. The Goehmans opened a Huddle House in Cape Girardeau on June 30. The new Huddle House restaurant will be at 3125 E. Jackson Blvd.
• Two Mexican restaurants planning 2009 relocation: If you've visited the mall last week, you may have noticed the space that once was home to McAlister's Select and Cinnabon will be receiving a new tenant, El Durango. Ever since the two eateries abruptly closed their doors in early October, mall management has been searching for someone to fill that space.

By February the Mexican restaurant plans to move there. Store management said the move would provide a better location to increase its business. No word on who will move into El Durango's present location after they relocate.

And in Jackson, El Torero will have a new home this April. When the Mexican restaurant at 711 E. Jackson Blvd. relocates across the road from Jackson Tire Center and Branding Iron, it will boast additional parking and a bar.

• Chiropractor changes offices: Dr. Timothy S. Joplin has moved his chiropractic office from 226 Albert St. in Cape Girardeau to 307 N. Frederick St., across from the post office. He said the new location provides a central location with parking right at the front door. The insurance electronic filing system and phone number — 335-9229 — haven't changed. You can check out the practice at docjoplin.com.
• Last call for small business of the year nominations: Today is your final chance to nominate candidates for the Cape Girardeau Chamber of Commerce Small Business of the Year award. This award is presented each year at the chamber's annual meeting and dinner. This year's dinner is scheduled for Jan. 30.

The chamber reminds all businesses that self-nominations are permitted. Nominees will be requested to submit additional information. For more information, call the chamber office at 335-3312.

n IRS reminder: For those educators out there, here's your friendly reminder to save your receipts. Otherwise, you could miss out on some tax deductions.

The Internal Revenue Service deduction is from receipts for the purchase of books and other classroom supplies. The Emergency Economic Stabilization Act of 2008 reinstated the educator expense deduction, which had expired at the end of last year.

"Many teachers dip into their own pockets for classroom supplies," said Michael Devine, an IRS spokesman. "The reinstatement of this deduction gives educators a tax break in 2008 and 2009."

The deduction is available to eligible educators in public or private elementary or secondary schools. To be eligible, a person must work at least 900 hours during a school year as a teacher, instructor, counselor, principal or aide.

An educator may subtract up to $250 of qualified out-of-pocket expenses when figuring his or her adjusted gross income. This deduction is available whether or not the taxpayer itemizes deductions. Expenses incurred any time during 2008 may qualify for the deduction.

Qualified expenses are non-reimbursed expenses paid or incurred for books, supplies, and computer equipment, including related software and services, other equipment and supplementary materials that are used in the classroom.

The IRS suggests that educators keep records of qualifying expenses, noting the date, amount and purpose of each purchase.

For more information, news, forms and publications, go to the official IRS website at www.irs.gov.

Brian Blackwell is a business reporter for the Southeast Missourian. Contact Brian at 388-3628 or bblackwell@semissourian.com.