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McClure and Wellhausen Join St. Louis Fed's Transportation Industry Council


ichard McClure, president of UniGroup, Inc., in Fenton, Mo., and Paul Wellhausen, president of Lewis and Clark Marine in Granite City, Ill., have joined the Transportation Industry Council of the Federal Reserve Bank of St. Louis.

The St. Louis Fed created four District Industry Councils in 2006.  Each council represents a specific industry that is critical to the Federal Reserve's Eighth District and is designed to build a consistent and dependable line of communication regarding economic conditions within those industry sectors throughout the District.  The members’ observations complement the data and information developed through the Federal Reserve's Beige Book, the St. Louis Fed’s Burgundy Books and meetings of the Reserve Bank's boards of directors.

Each council is based in one of four of the Reserve Bank's offices:  Memphis (transportation), St. Louis (real estate), Little Rock (agribusiness) and Louisville (health care). The councils meet twice a year.