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corner office-The High Cost of Low Trust-July 2011
Nothing generates more profit than the economics of trust.
editor's note-Wake Up and Smell the Ginseng-July 2011
If we don’t better support our early-stage companies, China soon might.
Money trail-Doing Well, Doing Good, Staying Local-July 2011
Granite Equity Partners has a mission that makes it distinctive among private equity firms.
Don’t Stand for These Guys
Part of a lawyer’s business is representing unpopular causes.
playbook-Hooked In, Not Selling Out-July 2011
The principals of RJF Agencies—a “fierce independent”—sold to a global giant but remain very much in charge.And now they are pitching the same deal to other insurance agencies.
2011 Minnesota Business Hall Of Fame
Glass Half Empty, Glass Half Full
A projected global shortage of fresh water will be a big issue for business. For some Minnesota companies, it already is. Here’s how they size up the risks and opportunities.
Space Race With Space150
After a year of rapid-fire expansion, Space150 keeps reaching for the digital leading edge in advertising.
3M Accuses British Firm and its CEO of Blackmail
3M Company has sued United Kingdom-based private equity firm Porton Capital and its CEO Harvey Boulter over claims that they tried to extort $30 million from 3M to settle a pending lawsuit.
8 Cos. Chosen for Project Skyway's Inaugural Class
Seven Minnesota companies and one New York company have been chosen to take part in Project Skyway's inaugural program, which starts later this summer.
Best Buy Brings Music Cloud Service to U.S.
Best Buy's online platform, which reportedly has been available in the United Kingdom for about a year, is launching in the United States under the name Music Cloud.
Best Buy Could Pay Up to $10.2M to Settle Lawsuit
The retail giant has agreed to change its personnel policies and procedures, pay the plaintiffs $200,000, and cover attorney costs and fees of up to about $10 million to settle a discrimination lawsuit that was filed in 2005.
Can This Bull Keep Running?
Leuthold Weeden says yes, cautiously.
China: From Pirate to Patent Powerhouse
China has begun to take intellectual property rights seriously—and create a significant portfolio of its own.
Cos. Near Central Corridor Can Apply for $20K Loans
Independent, for-profit businesses along the Central Corridor light-rail line that have less than $2 million in annual sales and a focus on retail services are eligible to apply for up to $20,000 in interest-free, forgivable loans.
Five MN Cos. Named Semifinalists in Cleantech Open
Of the 20 semifinalists chosen from the Cleantech Open's 10-state North-Central region, five are based in Minnesota.
HourCar Wins MN Cup Social Entrepreneur Division
The St. Paul-based car-sharing program will receive a $20,000 award and compete against five other yet-to-be-named division winners for a $25,000 grand prize.
Masu Raises the Bar on Japanese Bar Food
To sushi, add izakaya munchies.
MN Man Charged in $20M Mortgage Fraud Scheme
Federal prosecutors have accused Roger Bill Hanks-about whom very little information is available-of collecting $600,000 in kickbacks in connection with a $20 million mortgage fraud scheme that involved 57 Minnesota properties.
MN Real Estate Execs Indicted for $1.8M Fraud Scheme
Ryan Daryl Krutzig of Maple Grove and Jesse Scott Hoffman of St. Cloud allegedly obtained mortgage loan proceeds through fraudulent means and concealed payments made to themselves.
Money Where The Mouth Is
After operating under the radar, sports gear maker Shock Doctor is ready to do some shouting.
NY Target Workers Vote Down Union Representation
Workers at Target Corporation's Valley Stream, New York, store voted Friday and reportedly decided not to join the United Food and Commercial Workers International Union.
The specialized world of intellectual property insurance.
Plymouth Man Admits to Role in $190M Ponzi Scheme
Roughly one week after Christopher Pettengill was charged for his alleged role in a fraudulent foreign currency program, he pleaded guilty to the crime.
Pouring More Venture Capital into Water
Spotlight-All Aboard-July 2011
Effective employee orientation, or “onboarding,” reduces early-stage turnover and boosts day-one productivity.
Spotlight-Thinking Big, Designing Small-July 2011
DesignWise Medical uses a social enterprise model to develop medical devices for small children.
Starters-A Bird’s-Eye View of the Ballpark-July 2011
Who says the best seats are in the stadium?
Target's 2010 Ad Spend $1.5B, Top Among MN Cos.
General Mills and Best Buy also made
's list of the "100 Leading National Advertisers," ranking 35th and 56th, respectively; Target ranked 18th.
U Regents OK Plan for 5% Tuition Hike, Layoffs
The University of Minnesota's Board of Regents approved a provisional budget that would take effect if the funding levels outlined in the higher education finance bill that was vetoed by Governor Dayton were enacted-a circumstance described by the school as the "worst-case scenario."
Watching Famous Dave
An episode of hyper-reality TV.
Best Buy Ups Dividend, Buys Back $5B in Shares
In a separate announcement, North Carolina-based Valencell said that it has received $5.5 million in a round of venture capital investment led by Best Buy Capital.
Cargill Investment Arm to Start $500M Fund in Japan
CarVal Investors plans to launch its first Japan real estate fund later this year to raise about $500 million; Cargill has committed $200 million to the fund.
Egan Acquires Industrial Electric Company
Financial terms of the transaction, which closed on June 17, were not disclosed.
Senators Investigate Controversial Medtronic Product
Two members of the Senate Finance Committee are requesting information from Medtronic regarding its Infuse product and the financial ties between the company and doctors that conduct clinical trials involving the product.
Third Person Pleads Guilty in $42M Cloud 9 Scheme
While pleading guilty to two counts for her role in a $42 million scheme involving the Cloud 9 Sky Flats in Minnetonka, Sheri Lynn Delich told the court that she received instructions from Cloud 9's developer Jerry Trooien on how to handle the money she fraudulently received.
2 Arrested in "Scareware" Scam that Hit the Strib
Two computer hackers from Latvia were arrested in connection with a $2 million scam that involved a phony ad on the
's Web site, through which they distributed malicious software.
2 Fmr. Bank Execs., Customer Charged in $1.9M Scam
Two former officers of a local failed bank and one of their customers were indicted Wednesday for allegedly participating in a multimillion dollar check-kiting scheme.
4 Charged in "Second Wave" of Mortgage Fraud Scams
Two Minnesota residents and two Wisconsin residents were charged with racketeering due to their alleged participation in a multimillion-dollar mortgage scheme that targeted homes in foreclosure.
Dayton, Lawmakers Ready for Weekend "Lock-In"
Governor Dayton and two leading Republican legislators reportedly plan to lock themselves in a room this weekend until they're able to make some progress toward a state budget solution.
Know How to Solve MN's Water Issues? Here's $15K
The Minnesota Idea Open is partnering with Pentair to offer $15,000 to help implement a solution for addressing the state's water issues.
Local Cos. to Network With MBA Class Coming to Mpls.
Target and several other Minnesota companies sponsor a consortium of top-ranked U.S. business schools that promotes diversity in American business; at an upcoming four-day consortium event in Minneapolis, they'll be scoping out the best and the brightest.
Sale of MN "Mushroom" House Offers Hope for Market
A foam and burlap house that looks like a giant mushroom just sold for $170,000 after being vacant for several years and on the market since August 2010; although there was considerable interest in the home, it was impossible to finance and required an all-cash deal.
UHG Sues Over Loss of $23.5B Gov't Contract
The lawsuit comes about a week after the U.S. Government Accountability Office rejected the company's protest of a health-care contract that was awarded to it in 2009 and then rescinded in February.
Artis REIT Nabs Another Local Property for $5.8M
The Canada-based trust is continuing its buying spree in the Twin Cities market with the $5.8 million purchase of the Plymouth Corporate Campus.
Lawson Settles 8 Shareholder Suits, Nears Merger
As the date approaches for Lawson's shareholders to vote on the company's pending $2 billion takeover, the company announced that it is settling eight shareholder lawsuits.
Nonprofit Life Link III CEO Arrested on Tax Charges
Richard Carter McComb allegedly failed to file individual income tax returns in Minnesota for tax years 2007 through 2009 and now faces six felony tax charges; Life Link III said that it will continue to operate as usual and that the investigation surrounding McComb doesn't involve it.
Regis Required to Disclose Union Rights to Workers
Under a settlement with the National Labor Relations Board, Regis is required to post notices and play a DVD at its stores informing workers of their right to union representation.
Target Dealt Blow in Trademark Fight With Canada Co.
A federal court judge in Canada dismissed an injunction request by the Minneapolis-based retailer; the request aimed to prevent a Canadian company that owns 15 Target Apparel retail stores from using the Target name until a trademark trial that's set to begin next year.
U.K. Co., CEO Call 3M Blackmail Suit Publicity Stunt
Attorneys for United Kingdom-based private equity firm Porton Capital and its CEO described 3M's allegations of blackmail as a "false and reckless . . . publicity stunt disguised as a lawsuit."
"Mystery Shoppers" Pose as Patients, Call MN Doctors
A new initiative by the Obama Administration will reportedly involve government contractors calling Minnesota's doctors' offices under the guise of being real patients; the effort, which some doctors oppose, will show whether physicians respond differently to patients with public or private insurance.
Big G Sues Supplier Over Shrimp-Contaminated Berries
The Minnesota-based food manufacturer seeks unspecified damages from Adkin Blue Ribbon Packing Company, which it says sent a shipment of blueberries contaminated with pieces of shrimp.
Franken to FDA: Get Input Before Changing 510(k) Regs
Minnesota Senator Al Franken sent a letter to the FDA, urging the agency to consider input from those in the medical device industry before deciding on changes to the 510(k) device approval process.
Pending U.S. Bill May Help Small Cos. Go Public
The Small Company Capital Formation Act of 2011-which will amend the Securities Act of 1933 and exempt small companies from certain rules when completing an initial public offering-is reportedly expected to clear the Financial Services Committee this year.
Toro Buys KY Co., Enters New Product Categories
Lawn Solutions Commercial Products makes aerators, seeders, power rakes, and brush cutters-all of which are new product categories for the Bloomington-based maker of turf maintenance equipment.
U of M Licenses Technology to St. Paul Start-Up
Aria CV has licensed technology that was developed by former members of the U's Medical Devices Center Innovation Fellows Program to treat pulmonary hypertension.
DEED: Boston Sci. Laid Off 160 in MN in March
The Minnesota Department of Employment and Economic Development reported that 160 Minnesota employees were affected by Boston Scientific's layoffs earlier this year.
Former DQ Leader May Buy Faribault Woolen Mills
Onetime-International Dairy Queen CEO Chuck Mooty and his cousin, Paul Mooty, have told Faribault officials that they are interested in buying the facility and reopening it as a woolen mill-but the current owner wants the City of Faribault to forgive $72,000 in utility bills first.
Mpls Fed Outlook: Moderate Econ. Recovery, Job Growth
The Minneapolis Fed expects a continued moderate economic recovery in the Upper Midwest during the next year and a half, with Minnesota experiencing some job growth and a decline in unemployment.
Mpls May Sue State During Shutdown Over $44M in Aid
The City of Minneapolis says that it has been allocated millions of dollars in state aid that doesn't require legislative action and should be paid regardless of whether a state government shutdown occurs; the city is now poised to sue the state if it doesn't receive the payments on time.
Pursuit Vascular: Time to Bring in New CEO
The transition will give founder and former CEO Bob Ziebol more time to focus on getting regulatory approval for its device in Europe and the United States-and to pursue additional products.
Target Sells Rights to 39 Canada Sites to Wal-Mart
Target, which in January acquired leasehold interests for 220 Canadian sites in preparation for its expansion north of U.S. borders, has transferred the rights to 39 of those sites to Wal-Mart for an undisclosed sum.
United Prop. Looking to Repeat Ford Center Success
The company is eyeing Shapco Printing's building-which is near Target Field and across the street from the Ford Center-for the development of a multi-story office building.
Canterbury Moves Races Due To Looming State Shutdown
Canterbury Park in Shakopee has moved up two races that were scheduled for this weekend to ensure that the races are completed before the possible state shutdown.
Convicted Fraudster Pleads Guilty in Another Scheme
Michael Joseph Krzyzaniak, who already served time in federal prison for his role in an investment scam, pleaded guilty Tuesday to one count of wire fraud and one count of income tax evasion in relation to a recent scheme.
Jury Acquits Xcel in Trial Over Worker Deaths
The Minneapolis-based utility and its Colorado subsidiary were reportedly acquitted of criminal charges related to the deaths of five workers at a Colorado hydroelectric plant.
Econ. Development Org. Greater MSP Hires DEED Veteran
An organization aimed at attracting businesses to the Twin Cities has hired Gene Goddard to coordinate new business investment projects.
Is Mpls a Contender to Host the 2020 Olympics?
A media report suggests that Minneapolis might bid to host the 2020 Olympics, but a spokesman for the city said he's unaware of any efforts to attract the games.
Judge Rules Which Services Continue Under Shutdown
Ramsey County District Court Chief Judge Kathleen Gearin ruled Wednesday that certain core or essential government services will continue to operate if a state budget deal is not reached by midnight on Thursday, forcing the government to shutdown.
Lawson Shareholders OK $2B Sale to Infor
The majority of Lawson Software's shareholders approved the company's sale to Infor, a deal through which they will receive $11.25 per share.
Medtronic CEO Defends Co. Amid Product Scrutiny
A review of studies surrounding a controversial Medtronic product revealed that researchers with financial ties to the company didn't report adverse effects in patients who received the product, according to a new report.
Minnesota Reports Record Quarter for Exports
Gains in exports to Asia and Canada drove the state's exports to record levels.
North Mpls Nonprofit Gets $200K Grant from DEED
The grant will fund training and counseling services for North Minneapolis entrepreneurs and businesses.
Start-Up Brings Bike-Repair Kiosks to Minneapolis
Just off Minneapolis' bike highway, Midtown Greenway, local start-up Bike Fixtation has installed a self-service kiosk, complete with bike parts, tools, and snacks.
TCF Loses Debit-Fee Appeal; Fed Sets Final Rules
A TCF Bank spokesman said that the bank is disappointed that it lost its appeal and said that the banking industry will need to make up for lost profits-likely at the cost of consumers.
Twin Cities Climbs Forbes' Best Metros for Biz List
The Minneapolis-St. Paul metro area received high marks for its educated work force but fared poorly with respect to the cost of doing business and job growth.
America's Next Great Restaurant Already Closed
The Soul Daddy restaurant concept that recently opened three locations as a prize for winning a reality show has reportedly already closed all of its locations, including one at the Mall of America.
Concierge-Let the Games Begin!-July 2011
Summer is the season to mix business and fun, American style. Here are some ways to be a good sport.
For Bauer, Olson Anthropologists Find “Hockey Truths"
Olson employed its “brand anthropology” method—lots of time at the rink with players—to develop the campaign for Bauer’s new Vapor APX skates.
General Mills Completes $1.2B Yoplait Acquisition
The company now owns a 51 percent stake in France-based yogurt manufacturer Yoplait, S.A.S.
Marco Sells Office Furniture Division
St. Cloud Times
reports that Marco has sold its office furniture division, which accounted for roughly 5 percent of the company's sales.
MN Reps. Voice More Concerns Over FDA Regs.
The state's Congressional delegation sent a letter to the FDA on Thursday voicing concerns over delays in the agency's investigational device exemption (IDE) review process.
Surly, Summit on List of 50 Best Beers in America
Surly's Furious India Pale Ale and Summit's Extra Pale Ale both were ranked among the best beers in the country.
TCF Drops Swipe-Fee Suit After Losing Appeal
Just one day after losing an appeal, TCF Bank said that it was dismissing its suit that it filed last October, which argued that new rules regarding debit-card swipe fees are unconstitutional.
CNBC Ranks MN 7th-Best State for Business
The state earned high scores for quality of life and education, among other categories, which bumped its ranking up from last year.
Former Employee Sues Best Buy for Discrimination
Majeed "Todd" Abed claims that he was taunted for his religion by his supervisor at work and that he was fired for not complying with a Best Buy program that was "implemented in a discriminatory fashion."
Local Author's New Ethics Book Pulls From Headlines
Nan DeMars' new book-
You've GOT To Be Kidding! How to Keep Your Job Without Losing Your Integrity
-addresses how to solve workplace ethical issues through real-life case studies, some of which are plucked from today's headlines.
Medtronic Sells Proprietary Formula for $35M
AC105, the compound whose rights are now owned by Acorda Therapeutics, could be a potential treatment for brain and spinal cord injuries.
Minneapolis Ranked Among the 10 Greenest Cities
The city scored well in the land use, water, and waste categories.
ProBuild to Close Regional HQ in Winona
A company spokeswoman confirmed that the company plans to consolidate its two Winona offices; some employees will move into the consolidated location, some may be offered the opportunity to relocate to the Denver corporate headquarters, and it's unclear at this point whether any layoffs will result.
Tastefully Simple Buys Assets from Homemade Gourmet
The company said that it will transition Homemade Gourmet's 1,400 consultants to their new positions under the Tastefully Simple brand.
U of M Considers Axing State Funding for 2 Schools
The U's Law School and the Carlson School of Management are both reportedly looking at switching to a private-funding model as state funds continue to dwindle under budget cuts.
U of M Start-Up Accused of Copying Product Idea
A group of University of Minnesota students reportedly has been accused of copying an existing product idea; the local start-up's CEO, meanwhile, told the
that his company has acted ethically.
Analyst: Medtronic May Sell Spinal Unit Amid Scrutiny
A senior analyst with Wells Fargo Securities reported that Medtronic may potentially sell its entire spine business amid scrutiny of its Infuse spinal product.
Calhoun Commons Retail Center Sold for $21M
The acquisition of Calhoun Commons, which is anchored by a 49,471-square-foot Whole Foods Market, gives Regency Centers its fourth shopping center in the Twin Cities market.
Groupon Now! Enters Twin Cities Market
Unlike regular Groupon deals, which are purchased for future use, Groupon Now! deals are redeemed immediately and can only be used during the day in which they are purchased.
Lawson Software Sale Is a Done Deal
The company declined to comment on how the acquisition will impact its 800 employees in St. Paul.
Metro Transit Considers Fare Hikes, Reduced Service
As the Metropolitan Council prepares for a potentially dramatic cut in state funding to local transit operations, it said that possible budget solutions could include a fare increase of up to 50 cents, up to a 25 percent reduction in bus service, and the loss of 500 jobs.
MN Reconsiders Roads Near Halted Elk Run Project
Finance and Commerce
, the state may try to cut its losses on the $34.3 million Highway 52 interchange project in Pine Island, which was designed to provide access to the Elk Run project.
Mosaic Ordered to Continue Delivery in Potash Suit
A Canadian court has ordered The Mosaic Company to continue supplying potash to Potash Corporation of Saskatchewan until the two companies go to trial next January over a contract dispute.
Optum Leader Mikan Leaves, New CEO Named
Larry C. Renfro will replace G. Mike Mikan, who is leaving the company to lead a private equity fund.
Hutchinson Tech Product Demand, Sales Show Rebound
The Hutchinson-based disk-drive component maker's preliminary results indicate that its product shipments are up 15 percent and its net sales are up 14 percent for the quarter that ended June 11.
Local Retail Market Sees Some Positive Signs in Q1
A report from Cassidy Turley indicates that a stagnant economy has prevented any substantial growth from occurring in the Twin Cities retail market, but the introduction of some new retailers and plans for new development are positive signs.
Medtronic Spends $585M to Buy 2 Surgical Tech Cos.
The medical device giant will spend a combined $585 million to acquire two surgical technology companies in which it already has an ownership interest-Peak Surgical and Salient Surgical Technologies.
Shutdown Harms Some Start-Ups Seeking Investments
During the state government shutdown, local companies reportedly have been unable to sign up investors for the state's angel tax credit program.
Target to Pay $160K to Settle Discrimination Suit
The U.S. Equal Employment Opportunity Commission alleged that Target Corporation violated the Americans with Disabilities Act by denying a disabled employee "reasonable accommodation" and reducing his work hours because of his disability.
Target's June Same-Store Sales Up, Beat Wall Street
Year-to-date, Target's same-store sales are up 2.7 percent, and its net retail sales are up 3.6 percent to $26.6 billion.
Blue Cross MN CEO Patrick Geraghty Heads to FL
Geraghty-who has been president and CEO of Blue Cross and Blue Shield of Minnesota since 2008-will take the helm of Blue Cross and Blue Shield of Florida on September 1.
CA Woman Admits to Defrauding Medtronic of $2.1M
Jennifer Rutherford admitted to creating shell companies that sold non-existent marketing merchandise to Medtronic, thereby defrauding the company of at least $2.1 million.
MN Bond Rating Downgraded Due to Budget Standoff
Fitch Ratings lowered the rating on $5.7 billion in state general-obligation bonds to AA+ from the best AAA rating, citing "the difficulties in reaching consensus on a plan to address the resulting large budget gap for the biennium that began on July 1."
Mojo Minnesota Incorporates as a Co-op
Co-founder Ernest Grumbles said that Mojo was a bit hesitant to adopt a formal structure, but the co-op structure allows it to move forward with its mission to fuel entrepreneurship in Minnesota.
Securian Buys Insurance Cos. from Bank of America
Financial terms of the transaction, which is expected to close on October 1, were not disclosed.
Senators Reach Deal to End Ethanol Tax Credit
Senate negotiators have reached a deal that would end an ethanol tax credit by July 31 and use the money saved to reduce national debt and fund other renewable energy efforts.
Ballpark Village Project May Be Back on Track
Hines is reportedly planning a 185-unit apartment building near the Twins stadium, marking the first step in what could be a major three-phase project.
Canterbury: More than $2M in Losses Since Shutdown
After an unsuccessful attempt earlier this month, the company petitioned the state again last week to allow the commission that regulates it to operate during the shutdown.
Target to be Exclusive Seller of New E-Reader
The Iriver Story HD will retail for $139.99 when it hits Target shelves nationwide on Sunday-but it faces stiff competition in the growing e-reader market.
2 Local Cos. Merge to Form Real Estate Dev. Firm
Anderson Builders and KM Building Company have joined forces to form Anderson-KM Builders, which will provide real estate development and building services.
ATK Wins $77M Army Ammunition Contract
The contract award comes about two months after Alliant Techsystems lost an $850 million Army contract to run an ammunition plant in Virginia-a decision that it formally protested.
Developer Steve Hoyt Files for Bankruptcy
The CEO of Hoyt Properties, Inc., claimed assets of $31.5 million and liabilities of about $54 million, according to court documents.
Judge Rules on Additional Shutdown Funding Requests
Chief District Judge Kathleen Gearin on Monday reportedly turned down six requests and approved two requests from organizations asking for funding under the state shutdown.
MN Inventors Win $5K Prize for Bizarre Creation
A team of inventors from Minneapolis won the grand prize at the annual Red Bull Creation competition, in which 16 teams had 72 hours to build innovative-but quite bizarre-contraptions.
Pawlenty, Others Lead Nat'l Twitter Jobs Conference
A first-of-its-kind American Jobs Conference will take place on Twitter on July 19; Governor Tim Pawlenty will give the "Tweetnote presentation" and numerous government, technology, business, and recruiting leaders will be featured.
Report: Target Accelerates Canada Plans, Hiring
Wall Street Journal
reported that Target is moving faster than originally expected with its Canadian expansion plans and intends to hire 100 workers in the country by the end of the year.
Settlement with Xcel Could Cost Gov't $200M
Xcel Energy said that it has reached a settlement with the U.S. government regarding costs incurred because of the U.S. Department of Energy's failure to begin removing used fuel from the company's nuclear plant sites by a 1998 deadline.
Timberwolves Fire Head Coach Kurt Rambis
Rambis has served as head coach of the Minnesota team for two seasons and had a record of 32 and 132 with the team.
U.S. Bank, TCF Help Customers Hurt by Shutdown
State employees who have been laid-off or furloughed, along with others who have been economically impacted by the state shutdown, can skip one or two monthly payments on most types of loans through the bank programs.
Web Site Charges Cos. to Access Employee Gossip
OfficeLeaks.com, an online forum through which employees anonymously post comments about the companies for which they work, is now seeking to profit by charging employers a fee to gain access to the online conversations.
Best Buy Praises New Laws that Tax Online Retailers
The Richfield-based company says that brick-and-mortar stores are at a competitive disadvantage when online retailers aren't required to collect sales tax; it supports new laws like one in California that is designed to level the playing field.
MN Leaders Push for Debt-Ceiling Compromise
Five Minnesota business leaders are among the nearly 500 leaders from across the nation who are urging national leaders to come to a compromise regarding the U.S. debt ceiling and a plan to decrease the nation's deficit.
Shutdown Means Some Alcohol Supplies Run Dry
Retailers whose "buyer's cards" are expired, can't get them renewed during the shutdown-meaning once they run out of alcohol, they're unable to buy more. Meanwhile, MillerCoors reportedly must remove its beer from Minnesota bars and stores because it didn't renew its brand licenses prior to the shutdown.
3 Events Expected to Crowd Downtown Mpls on Friday
Minneapolis officials warned citizens that three events will bring about 60,000 people to downtown on Friday evening.
Cirrus Buyer Pledges to Keep Jobs in Duluth
While some Minnesotans worried that Cirrus' acquisition by a Chinese company could result in the elimination of Duluth jobs, both the acquiring company's leaders and the City of Duluth have reportedly pledged to support the business-and keep its operations in the northern Minnesota town.
General Mills Expects "Robust" Growth from Yoplait Deal
The company reportedly expects the acquisition to add $1.2 billion to its annual revenue-marking a 41 percent boost in sales for the company's international division.
Lawson CFO Leaves for Same Post at Digital River
Stefan Schulz, who has served as Lawson Software's CFO since January 2010, will assume the same position at e-commerce solutions provider Digital River.
Lawson Lays Off Undisclosed Number of Workers
The company reportedly gave layoff notices to some workers on Wednesday, although it isn't disclosing how many or where they're located.
Metrodome's New $18M Roof Below Estimates So Far
There is still a lot of work that needs to be done at the Metrodome in Minneapolis-including determining whether the turf needs to be replaced-before a planned open house on August 20.
ReelzChannel's Kennedys Miniseries Gets 10 Emmy Nods
After being dropped by the History channel and passed over by numerous cable networks,
brought in more than 2 million viewers per episode when it aired in the United States on ReelzChannel in April.
Regis Adds Roosters Men's Grooming Center Franchise
The deal gives Regis "controlling interest in the partnership" with Roosters, which has 35 franchised salons in 15 states and plans to open 40 more salons by the end of next June.
Schwan's Opens Ice Cream Kiosk at MOA
The company does not have immediate plans to open other ice cream kiosks, but a spokesman for Schwan's said that it is certainly a possibility if the Mall of America location is successful.
Shutdown End in Sight? Dayton Proposes Solution
On Thursday, Governor Mark Dayton said he would accept Republicans' budget proposal from June 30-with some conditions to which they must agree-in order to end the state shutdown.
Shutdown Helps Some, Hurts Some in Trucking Industry
Truck stops are seeing increased traffic and more trucks are parking in their lots overnight-but the state's trucking companies are having problems getting credentials for drivers and experiencing a lag time in getting permits to haul oversized loads.
St. Jude's Pain Management System Gains U.S. Approval
The medical device manufacturer's Epiducer lead delivery system-a neurostimulation system-received FDA approval and is now available in limited quantities.
ATK CFO Leaves for NJ Company, Interim Named
John Shroyer will leave ATK next month to become CFO at Capsugel-a health-care company based in Peapack, New Jersey.
Big G, Others Unveil Plan for Advertising to Kids
The country's food industry released a new plan to self-regulate the products that it markets to children, but those plans are reportedly less stringent than recommended guidelines from the federal government.
Capella Buys U.K. Online Education Co. for $14.9M
The company, Resource Development International, develops and delivers online higher-education programs across the U.K.; its 2010 fiscal-year revenue totaled about $13.9 million, and Capella's CEO sees it as a business with "significant opportunity for long-term growth."
Digital Angel Stockholders OK Animal ID Unit Sale
CEO Joe Grillo said that the sale of the Destron Fearing Corporation subsidiary will allow the company to operate its remaining business "with improved balance sheet liquidity and virtually debt-free."
GQ: St. Paul Among the Worst-Dressed U.S. Cities
The City of St. Paul ranked 24th on
's recently released list of the 40 worst-dressed cities in the country.
New Mpls Running Tours Target Tourists, Biz Travelers
City Running Tours has entered Minneapolis and offers an outdoor, educational alternative to the monotonous treadmill. It's targeting both locals and tourists-and through a partnership with the Westin, it's aiming to attract business travelers.
Report: State, IRS Seek $2.5M in Petters Assets
reports that the Minnesota Department of Revenue and the IRS, which have identified tax liabilities dating back to 2004, are asking for $2.5 million in ill-gotten assets being controlled by receiver Doug Kelley.
Where Key Players in Hecker, Petters Cases Are Today
A report by the
provides a summary of each of the defendants from the Tom Petters and Denny Hecker scandals-including where they are today, and for many, when they're expected to be released from prison.
Cohort in Cook Scheme Admits He Lied About Assets
Jon Jason Greco admitted that he lied to investigators last summer about money and coins that he stashed in a Mall of America locker; but, according to the
, he insisted in court on Monday that he didn't know they belonged to Ponzi scheme operator Trevor Cook.
Delta Axes Service to 24 Small Cities, 5 in MN
The airline company said that it is losing $14 million per year because of 24 underperforming markets, including five in Minnesota.
IT Staffing Firm to Hire 80 at New Mpls Office
Digital Intelligence Systems Corporation said that it intends to fill approximately 80 positions in its consulting, internal sales, recruiting, and support personnel teams with the opening of a new Minneapolis office.
Judge Says No to Bars Looking for Buyer's Cards
Ramsey County District Court Judge Kathleen Gearin reportedly denied the Minnesota Licensed Beverage Association's request to have the state continue processing liquor purchasing cards.
Real Estate Pros Anxious for End to State Shutdown
During the state shutdown, the Commerce Department isn't processing licenses and renewals for some real estate professionals-which is leaving some without work and keeping new agents from entering the field. And an extended shutdown would have a much larger impact, which could be felt by homeowners and prospective buyers.
ReelzChannel Viewers Up Since Kennedys Series Debut
Unique viewers now total between 8.5 million and 9 million-up substantially from about 3 million in January; on the success of
miniseries, which debuted in April, ReelzChannel CEO Stan Hubbard plans to bring more miniseries to the network in the coming months.
Special Session Called For 3 p.m. Tuesday
Governor Mark Dayton and legislative leaders signed an agreement Tuesday morning outlining the terms of a special session to complete the budget.
U.S. Bank Pilots Wristband That Can Make Payments
Thousands of the bank's employees are testing a MasterCard-branded wristband that stores customers' financial information and can be used to make payments; the wristband also stores emergency contact and medical information.
Angeion Appoints Gregg Lehman CEO
Gregg Lehman, who has served as interim CEO at the St. Paul-based company since May, will serve as the company's top executive on a permanent basis.
Dayton Signs 12 Bills; Gov't Shutdown Ends
Governor Mark Dayton reportedly signed a 10-inch stack of bills that will eliminate the state's $5 billion budget deficit and put 22,000 laid-off employees back to work.
Ecolab Pays $5.4B for Water-Treatment Co. Nalco
The deal is valued at $8.1 billion, which includes $2.7 billion in Nalco net debt, and Ecolab sees it as an opportunity to focus on growing its presence in the water-management market.
Mayo Clinic Ranks 3rd on Best Hospital Honor Roll
Johns Hopkins Hospital nabbed the top spot on
U.S. News and World Report
's "honor roll" for best hospitals, which includes just 17 hospitals from across the country. Several other Minnesota hospitals were recognized in individual categories.
OnStar FMV Hits Best Buy Shelves on Sunday
Best Buy will sell and install the OnStar FMV, allowing owners of non-GM vehicles to access OnStar's services, including roadside assistance and automatic crash response.
3 More Locals Charged in Cook's $194M Ponzi Scheme
Jason Bo-Alan Beckman, 41, of Plymouth; Gerald Joseph Durand, 60, of Faribault; and conservative radio show host Patrick Kiley, 73, of Burnsville allegedly worked with Cook to defraud investors through what they marketed as a foreign currency trading program.
Canterbury Aims to Recoup $3M Lost During Shutdown
The company-which resumed operations on Thursday-is looking at ways to make up the estimated $3 million that it lost during the government shutdown, including adding races, extending the racing season, and rescheduling Fourth of July festivities.
Kieran Folliard Sells Pubs, Moves On to Whiskey
Kieran Folliard has reportedly sold his stake in Kieran's Irish Pub, The Local, Cooper, and the Liffey.
MN Adds Jobs in June But Jobless Rate Rises 0.1%
Although Minnesota's unemployment rate increased slightly to 6.7 percent in June, it is still well below the national rate of 9.2 percent.
More Charges Surface Against Petters Associates
Frank Vennes, who allegedly served as one of Tom Petters' primary fundraisers and was indicted in April, now faces several new charges. James Fry, a fund manager from Minnesota, also faces fraud charges.
St. Jude to Cut 450 Jobs in Sweden, Move Some Mfg.
The Little Canada-based medical device company experienced a decline in U.S. sales within its cardiac rhythm management division during the second quarter; moving that division's manufacturing to Puerto Rico and Malaysia is expected to cut costs.
Sun Country Moves Forward Under New Ownership
The Davis family, Minnesotans who own Cambria Holdings and Davisco Foods, purchased the airline, which emerged from bankruptcy in February. An attorney representing the trustee in the Petters bankruptcy case, who oversaw the transaction, said that the involved parties sought to keep the price confidential, and declined to disclose the sales price.
Supervalu to Bring 250 Stores to 'Food Deserts'
Company executives joined First Lady Michelle Obama on Wednesday at the White House to outline efforts to fight childhood obesity; Supervalu estimates that its new stores will provide better access to fresh fruit, vegetables, and meat for 3.75 million people and create up to 6,000 new jobs.
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