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American Public Media Group Names New CEO
Jon McTaggart will succeed MPR founder and longtime American Public Media Group CEO Bill Kling, who will step down this summer.
Best Buy's Schulze Acquires 585K Shares
Analysts say that the move signals his confidence in the company's outlook; the company founder and chairman has historically "sold into strength and bought into weakness."
Deal for State Farm Site in Woodbury on Hold
Media reports indicate that Wellington Management terminated its agreement to purchase the site, due in part to the developer's plan to add a Costco store-which isn't allowed under current zoning laws for the property.
Mpls. Institute of Arts Cuts 10 to Balance Budget
The layoffs, which include the associate curator of paintings, were necessary in order to cut $1.4 million from the budget for the next fiscal year, which begins June 30.
No Laws Broken when Hecker Married by Phone
Authorities have reportedly determined that no laws were broken when fallen auto mogul Denny Hecker married his girlfriend, Christi Rowan, by phone earlier this year.
Olson Moves to Ford Center, Consolidates Operations
The move will put all 300 of the agency's local employees under one roof and allow "breathing room" for future expansion.
RTI Sold to European Investment Fund
The cooking oil management company says that the acquisition will allow it to add new services and expand into new markets.
St. Jude Puts Price Tag on Japan Disaster
The company's first-quarter sales were down $5 million due to the earthquake and tsunami in Japan. Despite the unfavorable news, the company remains optimistic about the future of its devices.
Three New Petters-Related Indictments Surface
A business associate of Tom Petters and two hedge fund managers were indicted for fraudulently marketing a hedge fund's investments in Petters Company, Inc.
2 Hedge Fund Managers Plead Guilty in Petters Fraud
Florida hedge fund managers David Harrold and Bruce Prevost each pleaded guilty to four counts of securities fraud.
CB Richard Ellis Adding 125 Local Accounting Jobs
The company decided earlier this year to consolidate its three client-accounting services offices to two; that decision, combined with organic growth, has led to 125 additional jobs in the firm's Bloomington office.
DNR Sells Mineral Leases Despite Landowner Concerns
Mining supporters contend that the leases are a necessary step toward accessing Minnesota's untapped minerals and creating jobs, but some landowners fear that prospecting will result in damage, noise, and pollution.
Feds: Eden Prairie Man Defrauded Insurance Co.
A Minnesota man is accused of scamming an insurance company out of millions of dollars, which he used to buy an airplane and other personal items.
Fingerhut Parent Bluestem Files to Go Public
The Eden Prairie-based multi-channel retailer would rank among the 50-largest public companies in Minnesota based on its net sales for the fiscal year that ended in January, which totaled $521.3 million.
Highwater Ethanol to Pay $150K for Permit Violations
The company has allegedly violated air-quality and water-quality permits at its production facility in Lamberton.
Lennar Buys 72 Lots in Otsego Development
According to the
, Lennar has purchased lots in Martin Farms, a troubled residential development in Otsego.
MN Start-up Signs Licensing Deal with Kraft
Medisyn Technologies claims the newly licensed compounds could potentially offer health and wellness benefits.
3 Real Estate Professionals Charged in $4.2M Scheme
Sheri Lynn Delich, My Dinh Lam, and Ashley Elizabeth Prasil allegedly conspired to defraud mortgage lenders in conjunction with the marketing of Cloud 9 Sky Flats development-a Minnetonka condo project of bankrupt St. Paul developer Jerry Trooien.
Ameriprise to Sell Brokerage Unit Securities America
After paying at least $150 million to settle legal claims against the Nebraska-based brokerage subsidiary, Ameriprise said it will look for a buyer for Securities America.
ATK Loses Out on NASA Space Vehicle Money
NASA reportedly favored spacecraft designers over rocket builders like ATK when determining which firms would receive a portion of almost $270 million in federal funds supporting the development of commercial space vehicles.
Gen. Mills Stock Up on Rumored Takeover by NestlŽ
A company representative declined to comment on the speculation about a possible buyout, but shares were trading up about 0.7 percent at $38.50 mid-morning on Tuesday.
Lawson Software Accepts $2B Buyout Offer
The St. Paul-based company has agreed to be bought by GGC Software Holdings, an affiliate of Golden Gate Capital and Infor.
Medtronic Supports Patient Swimming English Channel
As Doug McConnell prepares to swim the English Channel to raise awareness and funds for amyotrophic lateral sclerosis, Medtronic said that it will match fundraising contributions up to $50,000.
St. Jude Awarded $2.3B in Trade Secrets Case
A Los Angeles jury awarded the Little Canada-based medical device manufacturer $2.3 billion in conjunction with a lawsuit it filed against a former employee and the rival company that he founded.
TCF May Revamp Its Overdraft Fee Policy
TCF is testing a new overdraft policy in Michigan, and CEO Bill Cooper said that the company may roll out the program-which ditches multiple fees in favor of a single daily charge-nationally by the end of 2011.
Wells Fargo Tries New Cost-Saving Initiative
The bank, which employs about 20,000 in Minnesota, has launched a cost-saving initiative called Project Compass in which employees reportedly come up with ideas to save the company money.
3M Ups Outlook on Record Q1 Sales
Despite posting a 3 cents-per-share drop in earnings due to the disasters in Japan, 3M reported increased earnings and record sales of $7.3 billion in the first quarter-prompting the manufacturing giant to raise its outlook.
Dropping Local Home Prices Outpace U.S. Again
For the second month in a row, Twin Cities home prices declined faster than those from throughout the rest of the country.
Former Loan Officer Pleads Guilty in $4.3M Scheme
Larry Gene Hillard, a former Wells Fargo loan officer, fraudulently helped secure loans for 12 properties, which resulted in $1.4 million in losses.
Hennepin County to Buy 701 Building for $25.8M
Minnesota's largest county already occupies more than 63,000 square feet of space in the building, and it will move at least 150 additional employees later this year.
Laid Off Lockheed Workers Get State Aid
The state has awarded roughly $1.1 million in grants to aid Minnesota workers who were laid off; $800,000 will go to about 200 former Lockheed Martin employees, and $280,000 will benefit about 70 former Express Scripts workers.
Medtronic, Lilly Partner on Parkinson's Treatment
The two companies are researching a way to administer a new drug to the brain using an implantable drug-delivery system.
MN Man Selected As New Voice of Aflac Duck
Dan McKeague-a sales manager for local radio stations KQRS and Love 105-was chosen from thousands of applicants and has already made his vocal debut on a new Aflac commercial.
Mpls. Convention Center Sees Increase in Attendance
The center's five biggest consumer shows saw attendance increases ranging from 6 percent to 26 percent compared to last year's attendance.
Polaris Buys Electric Vehicle Co. from Chrysler
Less than a week after Polaris announced that it had purchased Indian Motorcycle from two British private equity firms, the company has agreed to buy a manufacturer of electric vehicles from Chrysler.
268 Local Medtronic Workers Part of Worldwide Cuts
Medtronic said that 268 Twin Cities employees were notified this week that they were being laid off as part of a worldwide cut, which was initially announced in February.
Comcast to Hire 450 at New MN Call Center
Comcast is immediately seeking experienced and "technologically savvy" workers for its new Minnetonka facility. The company said that it chose Minnesota for the center due to its attractive work force demographics.
Hutchinson Tech. Cuts to Save $50M-$55M Annually
For the quarter that ended in March, the company reported a net loss of about $20.5 million on net sales of $63.3 million; its president says that a planned restructuring will help it return to positive cash flow.
Jury Rules on Mayo Scientist Trade Secrets Case
A federal jury reportedly found that Peter Elkin misappropriated Mayo Clinic's trade secrets, but Mayo was also ordered to pay the doctor royalties for software he created while employed there.
Longtime HealthEast CEO Tim Hanson to Retire
HealthEast will launch a national search to find a replacement for Tim Hanson, who has held leadership positions within the health care system for nearly 40 years.
Oppidan Redevelops Former Plymouth Shopping Center
The planned site will include a 90-unit senior living facility, a McDonald's restaurant, and four acres for further business development.
Report: 33 South Sixth Building to Hit Market by June
Brookfield Properties will reportedly put the downtown building-which includes the City Center retail complex-back on the market after it unsuccessfully attempted to sell its local properties during the recession.
Report: Bixby Sued Over Mismanagement of Company
According to the
, Bixby Energy Systems is facing claims from board members and investors that the company has been mismanaged, which is putting the company at risk.
Vital Images Sold to Toshiba for $273M
Under the terms of the agreement, Toshiba Medical Systems Corporation will pay $18.75 for each of Vital Images' outstanding shares.
3M Sues Online Retailer Over Post-it Trademark
The Maplewood-based company claims that it has asked Shoplet.com to change the way its Web site search engine uses the Post-it trademark, but the site continues to list competitors' products prior to 3M's when the words "Post-it" are searched.
Local Residential Construction Still Struggling
This month was the slowest April for local residential construction in at least the last five years, but a local builders association hopes to see a rebound in single-family home construction.
Wayzata Fund Mgr. Allegedly Ran Major Fraud Scheme
Investors filed a suit accusing Gary Vibbard of selling unregistered securities through his company based on exaggerated claims; they want to recover the $3 million they invested.
“Diapers to Daisies”
Andy Redleaf’s Many Happy Returns
The hedge fund industry is back—sort of—and Redleaf, the contrarian mind behind Whitebox Advisors, has been trouncing industry benchmarks.
Can Retail be Restored?
Though it has lost a lot of stores, downtown Minneapolis may have what it needs—except for a retail advocate.
Product and packaging design? Branding? In-store design? Knock says yes to them all.
Looking on the Bright Side
People want solar power. Solarflow Energy wants to help them overcome the barriers to getting it.
Making a Contribution
Change demands more than enthusiasm and a good cause. Business education is providing social entrepreneurs with the skills they need.
Not Just Desserts
A more inventive sweet course at Heidi’s.
Olson’s Summer O-Terns Are Just Phoning It In
Over the Hump
We interviewed these local small-business owners during tough times. Now, they’re cautiously optimistic.
Playing the Game
W3i takes its free download model to the mobile gaming world.
Selling It- Minnesota Twins-May 2011
Special Focus-Real Leadership-May 2011
“Action learning” is the hot trend in leadership training. That means your class project might seem strangely familiar.
Spotlight-Knock’s Opportunity-May 2011
Product and packaging design? Branding? In-store design? Knock says yes to them all.
Starters-“Don’t Say Underwear, Say Munsingwear. It’s More Refined.”-May 2011
A new exhibit traces an iconic Minnesota company from Victorian cover-ups to va-va-voom.
Starters-Nanotechnology at Your Fingertips-May 2011
Cima NanoTech plans to be in more touchscreens, flat screens, and even windows.
Starters-Toepener: A Way to Tiptoe Around Everyone Else’s Bad Hygiene -May 2011
Twin Cities venues now have the Toepener installed on their restroom doors.
Starters-Will Advertisers Play Ball with PickPointz?- May 2011
The Wallet-less Future
U.S. Bank ventures closer to it with pay-by smartphone technology.
Where They’re Biting
3M, Gen Mills Among Top 10 in Reputation Poll
Best Buy and Target ranked further down the list-although the report indicates that both companies' reputations have improved during the past year.
4 Cos. Pledge $13M Investment in Mpls. Schools
Target, Cargill, General Mills, and Medtronic will collectively provide $13 million to Minneapolis Public Schools over the next three years-money that will help the district cope with an expected state funding shortage of up to $27 million.
Brave New Workshop Pays $725K for Downtown Bldg.
The theater company plans to keep its longstanding and current home at 2605 Hennepin Avenue in Uptown; its classes will continue to be offered from that location while the comedy revues and custom business offerings will be housed within the just-bought downtown building.
MN Student Wins Nat'l Scholarship for Phone Apps
Rohit Agrawal is one of five high school students who received a scholarship from the 2011 NFIB Young Entrepreneur Award program, which is designed to reward and encourage entrepreneurial talents among high school students.
MN Unemployment Ins. Fund: Record $772M Deficit
Although the state's unemployment insurance fund hit a record $772 million deficit last month, it will be reduced in the next few days by about $440 million that will be collected from employers.
Thrivent Sues Lenders Over Mortgage-Backed Securities
Thrivent claims that Countrywide Financial-which merged with Bank of America-and GMAC Mortgage perpetuated a "massive fraud"; meanwhile, Bank of America says Thrivent is "looking to blame someone for investment losses incurred during a period of economic downturn."
Xcel Terminates Wind Farm Agreement with EnXco
The Minneapolis-based energy giant said that EnXco gave back its $101 million deposit following the termination of an agreement for a wind farm in North Dakota.
Cima Labs Parent Company Bought for $6.8B
A representative for Teva Pharmaceutical Industries, which is buying Cima Labs' parent company Cephalon for $6.8 billion, said it is too early to comment on future plans for the combined organization.
LarsonAllen Buys 64-Person Florida CPA Firm
A principal of the Minneapolis-based accounting firm said that the acquisition will expand its industry specialization within the southern state-and that the two firms together will make up one of Florida's largest government audit practices.
Mpls. Awards $500K in Grants for Small Businesses
The city is funding 15 small businesses through its Great Streets Neighborhood Business District program.
St. Paul Outlines Ford Site Sustainability Goals
A report by a city task force focuses on how to achieve three levels of sustainability-economic, social, and environmental-for future development of the Ford plant site.
Target Fights Canadian Retailer for Trademark Rights
Target wants a preliminary injunction against a Canadian company that owns 15 Target Apparel stores in Canada; meanwhile, the Canadian company alleges trademark infringement and wants exclusive rights to the Target name.
Curtis Carlson Nelson Files for Bankruptcy
Curtis Carlson Nelson-grandson of Carlson Companies founder Curtis Carlson-listed $41.25 million in liabilities and $4.24 million in assets in his bankruptcy petition, which was filed Monday.
New Supervalu Store Brand to Save Money, Up Sales
The new brand, called Essential Everyday, will roll out in phases starting this summer; it's expected to save on packaging costs and increase store-brand sales by 1 percent over each of the next three years.
State Charges 3 Title Insurers, Mortgage Originators
Albert Lea Abstract Company, sister companies Meredian Financial Corporation and Fortis Title Solutions Corporation, and New Millennium Title Group are accused of various scams and swindles that misled consumers and violated state law.
Techne Buys Tocris for $124M; Q3 Profits Down 4%
Techne said that the acquisition of chemical supplier Tocris will expand its product portfolio; meanwhile, Techne's third-quarter earnings dropped 4 percent but still topped analysts' expectations.
20 MN Cos. Make Fortune 500 List
Led once again by UnitedHealth Group, 20 Minnesota companies were listed among the 500 largest companies in the country.
2010 State Exports: $17.2B, 2nd-Highest on Record
U.S. Senator Amy Klobuchar applauded the strength of Minnesota's export economy and vowed to work on opening new markets for U.S. exports.
Best Buy Reports Another E-mail Breach
The electronics retailer said that it informed customers about the security breach and is pursuing legal action related to the incident, which involved a former business partner.
Boston Sci. CEO Slams Medtronic, St. Jude Products
Ray Elliott, Boston Scientific's CEO, said Medtronic's Protecta implantable defibrillator is a "catch-up product" and called one of St. Jude's new products "99 percent hype."
City to Rehear Proposal by Developer Bradley Hoyt
A Minnesota Court of Appeals panel ordered the Minneapolis City Council to rehear Bradley Hoyt's request for a permit for a proposed development project in the Loring Park neighborhood of Minneapolis.
Fed. Gov't Selling 74 MN Properties to Save Money
The federal government said that "billions" of taxpayer dollars are wasted each year on properties that are no longer needed-so President Obama wants to sell more than 12,000 across the country, including 74 in Minnesota.
Local Newspapers See Boost in Circulation
saw a jump in newspaper circulation based on traditional reporting methods.
Metro Transit Bus Drivers Agree to Wage Freeze
The Amalgamated Transit Union Local 1005, which represents about 2,200 Metro Transit employees, approved a new contract.
One Local Credit Union Seized, Another to Be Bought
The Hmong American Federal Credit Union in St. Paul was seized by federal regulators due to "operational concerns," and the Ukranian Credit Union in Minneapolis will soon be acquired.
Stratasys Buys Printer Maker Solidscape for $38M
Stratasys expects the acquisition of Solidscape, which had 2010 sales of $13.4 million, to add about 4 cents per share to its 2011 earnings.
Target April Sales Up 13% But Miss Expectations
The company said that increased sales were driven by the late Easter holiday, which moved pre-Easter sales from March into April this year.
32 Allina Employees Fired Over Privacy Violations
A hospital system spokesman said that 28 Unity Hospital employees and four Mercy Hospital employees looked at the electronic medical records of patients who were treated following a mass overdose incident-which violates a policy that only allows such access on a need-to-know basis.
51% of Recent Local Home Sales Were Foreclosures
The Twin Cities-and the rest of the Midwest-outpaced the nation in the percentage of total sales that came from foreclosures, but the region hasn't yet experienced the "double dip" seen throughout the rest of the country.
Coborn's Closing St. Cloud Facility, 90 Laid Off
The company will outsource production to four family-owned facilities in the Midwest; a spokeswoman declined to reveal the impact that the move will have on the company's balance sheet.
DNR: Fishing Creates 43K MN Jobs, $2.8B in Spending
A DNR official says that angling contributes to billions of dollars in spending each year and hundreds of millions in tax revenue-and a boost in the price of fishing licenses could further benefit the state.
Mpls. Fed President Wants Interest Rates Raised
Narayana Kocherlakota is in the minority in arguing that the Fed should start tightening credit to guard against inflation, but he's been vocal with his opinion.
Report: Vikings Close to Arden Hills Stadium Deal
A Ramsey County commissioner told the
that the Minnesota Vikings are "very, very close" to reaching an agreement with the county to build a stadium at the abandoned Twin Cities Army Ammunition Plant in Arden Hills.
Supervalu Changes Seafood Policy Amid Criticism
Greenpeace last month slammed the grocery operator and gave it a failing grade for its seafood sustainability practices, which it vows to change in the coming years.
Target Among Fortune's "Social Media Champs"
The local retailer was named among nine leading companies that connect with customers via social media-primarily due to its diverse offerings for its many Facebook fans.
Xcel, EnXco Trade Lawsuits over ND Wind Farm
EnXco is seeking at least $245 million in damages for Xcel's decision to terminate an agreement involving a 150-megawatt wind farm in North Dakota. Meanwhile, Xcel is asking that the court declare that the termination was permissible.
Amid Proposed Cuts, How Lean is MN's Work Force?
Republican legislators are looking to cut the state's work force in an effort to help ease a huge budget deficit-but a report by Minnesota Public Radio suggests that the state's work force is already lean.
Delta Offers Buyout, Retirement Options to Workers
The company said that about 55,000 of its 80,000 employees are eligible for the offers, which are part of a larger plan to cut expenses amid high fuel costs.
G&K Services Must Pay $361K to Fired Employee
A jury found that G&K's decision to terminate James Dubiel-who sued the company in February 2010-was motivated by a Workers' Compensation claim he filed following an incident in a company-owned vehicle he was driving.
MN Cup Boosts Total Prize Money to $185K
The pot of prize money for Minnesota's entrepreneurial competition has grown, due primarily to a new sponsorship from General Mills-and a runner-up in each division will now receive a $5,000 cash prize.
Report: Block E Casino Could Face Many Obstacles
Skeptics of the plan to place a casino at the downtown Minneapolis development say that attracting people could be difficult-and the casino would likely face a tough fight from the state's Native American tribes.
Vikings Expected to Pick Arden Hills Over Mpls. Stadium
A Tuesday report indicates that the Vikings will likely opt for the Arden Hills proposal over the City of Minneapolis' recently unveiled plan for a stadium at the current Metrodome site.
13 MNs Finalists for Ernst & Young Entrepreneur Award
Twenty-three finalists across four states are in the running for the Upper Midwest region Entrepreneur of the Year Awards-which will be given out in various categories next month.
Are On-Site Clinics Rebounding?
According to the
, on-site health clinics like the one HealthPartners is opening in the Anoka County Courthouse might be regaining some steam as the economy improves.
Bill Opens Door to Millions in Home Building Projects
Just-signed legislation essentially reversed a June 2010 ruling that severely limited the ability of municipalities to grant variance requests for projects like deck additions and home remodels.
Digital Angel to Sell Animal ID Biz Destron for $25M
The decision comes less than three months after the South St. Paul-based company said that it would focus on its Destron Fearing business and divest "non-core" businesses in 2011.
Mpls Chef of 112, La Grassa Nabs James Beard Award
Isaac Becker of 112 Eatery and Bar La Grassa was named the best chef in the Midwest by the James Beard Foundation; in other local culinary news, Manny's was named among the nation's top "power lunch" spots by Zagat.
Report: Medtronic Cuts Hit Diabetes Unit
According to Mass Device, an online medical device journal, a diabetes industry analyst claims that Medtronic cut hundreds of employees in its diabetes unit.
Target, U.S. Bank Among Most Valuable Brands
Target and U.S. Bancorp, both based in Minneapolis, made Millward Brown's list of the 100 most valuable global brands, which was led by Apple, Google, and IBM.
Twin Cities Gets Mixed Marks for "Business Vitality"
The MSP Business Vitality Index, which compares the Twin Cities to eight other metro areas, found that the local business climate excels in its unemployment rate and number of Fortune 500 firms-but it leaves plenty to be desired when it comes to accessing capital and attracting minority entrepreneurs.
Twin Cities-to-Duluth Rail Project Gets $5M Grant
The Northern Lights Express proposed rail project received a $5 million grant from the federal government for engineering and environmental work.
Vikings, Ramsey County Reveal $1B Stadium Deal
The team has decided to pursue a new 65,000-seat retractable-roof stadium in Arden Hills, and it will work with Ramsey County officials to garner support from the state, which would have to cover $300 million of the total bill.
3M CEO Grilled About Political Donation, Retirement
At the company's annual meeting on Tuesday, George Buckley reportedly defended the company's political gift to MN Forward last year and remained relatively quiet about when he'll retire.
GE Healthcare Leader Selected as Medtronic CEO
Omar Ishrak will assume his new position on June 13 and replaces four-year CEO William Hawkins, who is retiring.
U.S. Bank Settles Suit Against Morgan Stanley
U.S. Bank sued Morgan Stanley in 2009 over a breach of contract relating to swap agreements for a collateralized debt obligation for which U.S. Bank was the trustee.
Bixby Leaders Resign Amid Legal Battles
Founder and CEO Bob Walker, along with other leaders of Bixby Energy Systems, have resigned-a move that settled two civil lawsuits; however, the company reportedly is still subject to investigation from the U.S. Securities and Exchange Commission and a federal criminal probe.
Boston Sci. CEO Elliott to Retire at Year's End
Ray Elliott, who has led the medical device giant since 2009, will serve on a CEO search committee that will select his successor.
Cargill, Australian Beef Co. Start Joint Venture
The new company will be a 50-50 joint venture between Cargill and Teys Bros Pty., Ltd.-an Australian beef-processing company.
General Dynamics Closes MN Facility, 100 Lose Jobs
The company's C4 Systems unit is closing its Bloomington facility, resulting in more than 100 employees being laid off. The closure is due to a terminated U.S. Army contract.
Last Phase of U's Biomedical Discovery District Begins
Construction began Wednesday on the final planned facility at the University of Minnesota's Biomedical Discovery District-a state-of-the-art cancer and cardiovascular research building.
Mayo Solicits Ideas for Its New MOA Facility
The clinic is building a store through which it will gather input from people regarding what it should offer at its new permanent facility at the mega mall.
MN Commerce Dept. Fines Loan Officer, Debt Collector
In two separate cases, the state's Commerce Department issued a $100,000 fine to debt collection agency First Financial Services and its owner, as well as a $70,000 fine to Marlon Pratt, a former loan officer.
Mosaic Shareholders Support Cargill Divestiture
Approximately 58 percent of the outstanding shares held by non-Cargill shareholders were cast in support of the deal.
Mpls: Pension Fund Bill Would Benefit Taxpayers
The City of Minneapolis claims that a bill that would merge closed Minneapolis police and fire fighter pension funds with a statewide fund would protect taxpayers from rising property taxes. But it appears some details of the proposed consolidation still need to be worked out.
Report: Best Buy Eyeing Sales of Electric Vehicles
Best Buy is reportedly looking into selling electronic vehicles, thus expanding upon its other electronic transportation offerings-including Brammo electric motorcycles.
Study Says MN Is a Smart Transportation Planner
The state was recognized as a leader in transportation planning, due in large part to the manner in which it tracks highway congestion and the data made available to policymakers.
Twin Cities: 39th for Mass Transit Tie to Local Jobs
Thirty percent of all Twin Cities-area jobs are reachable by mass transit within 90 minutes, and 7 percent are reachable within 45 minutes, according to a new report.
U.K. Firm: 3M Botched Clinical Trial
The Porton Group, a private equity firm based in the United Kingdom, claims that 3M Company "botched" the clinical trial of a product that 3M acquired through the purchase of a company in 2007. The firm is now asking that the FDA investigate 3M's trial for the product.
Buffets Explores Options, Including Possible Sale
The company, which emerged from bankruptcy two years ago, is exploring "strategic alternatives," including a possible sale.
MN Investment Adviser Hit with Fraud Charges
Renee Marie Brown of Golden Valley is accused of defrauding investors and using their funds to buy a condominium and pay off credit cards.
Mosaic Launches 100M-Share Offering
The offering follows Cargill's plan to exchange a portion of its Mosaic stock for Cargill debt held by third parties.
Surly Bill Passes House and Senate
The "Surly bill," which would create a taproom license that would allow Minnesota breweries to sell pints of their beer on-site, passed in both the Senate and the House this week and is now poised to become state law.
ATK Loses $850M Army Contract to British Company
Alliant Techsystems' shares fell more than 6 percent on Friday after news broke that the company lost a U.S. Army contract to London-based BAE Systems.
Gander Mountain Gun Academy Coming to Lakeville
This summer, the company plans to open its first Gander Mountain Academy in Minnesota-which will feature both live and virtual firing ranges, simulations in which students respond to "real-world" scenarios, and a long list of training courses.
Mono Seeks New Client to Give $125K in Free Media
Mono recently issued a request for proposals to find a client for which it will develop a campaign-and give winnings from a recent award.
Polar Corp. Hires Hundreds, Keeps Growing
The company, which manufactures and repairs tank trailers, said that a boost in demand from the oil industry has helped it hire more than 600 employees in the past nine months-and it has plans to add another 70 to 80 workers in the next couple of months.
RedBrick Health Adding 50 Employees in 2011
The company said that the additions are in response to organic growth that it experienced in 2010 and has continued to see in 2011.
2 Yrs After Board Fight, Ackman Sells Target Shares
During the first quarter of this year, major Target shareholder William Ackman-who runs hedge fund Pershing Square Capital Management, LP-sold all of his 7.4 million shares in the company.
Local CEOs Join the Vikings Stadium Debate
A group of eight to 10 top executives from local companies reportedly have banded together and hired a lobbyist to help shape the outcome of the stadium debate-although they don't yet appear to be backing a specific proposal or site.
MN Production Co. Files Suit Against Food Network
Page Productions, a Plymouth-based company that created and produces the Food Network's
Diners, Drive-ins, and Dives
, claims that the Food Network breached its contract.
MSP Gets 13 New Eateries from Local Food Celebs.
In addition to a long list of new full-service eateries-many of which are backed by local food stars like Andrew Zimmern and Doug Flicker-the airport will add a "virtual newsstand" where travelers can rent an iPad and download content to enjoy during flights.
Shavlik Technologies Acquired by CA Company
A Shavlik Technologies spokeswoman said that the company's headquarters office in New Brighton will remain open, and it is expected that "a majority" of employees will be retained.
Stadium Opponents Pursue Public Vote for Funding
The opponents say that with enough signatures, they'll be able to put a referendum on the next election ballot that would overturn any state measure to ban a stadium referendum.
General Mills Inks Deal for Majority Stake in Yoplait
The food manufacturer will pay 810 million euros, or about $1.15 billion, for a 51 percent controlling interest in the yogurt maker.
Google Claims $1B of Economic Impact in MN in '10
The Internet giant claims that it generated $1 billion in economic activity within the state in 2010 through 28,000 Minnesota businesses, Web site publishers, and nonprofits.
TCF Gives $100 for Opening a Checking Account
The Wayzata-based bank holding company is giving the incentive to new customers after they complete 10 checking account transactions.
Xcel CEO Kelly to Retire; COO Fowke Named Successor
Richard Kelly, who has spent the past four decades with Xcel and its predecessors, will leave in August-at which point Benjamin G.S. Fowke III will take the reins.
3M CEO Buckley to Sell Up to 1/3 of His 3M Shares
Based on 3M's Wednesday stock closing price of $93.94, the sale of the shares would be worth $32.9 million.
A Revival of the Minneapolis Stadium Plan?
A key lawmaker involved in the Vikings stadium plans is reportedly considering introducing two bills-one for the Vikings-backed Arden Hills plan and one for the downtown Minneapolis proposal.
Local Firms Expand in Response to Bump in M&As
A couple of local firms that provide services related to mergers and acquisitions say that the market is heating up-and they're gearing up to accommodate the additional demand.
Medtronic, Ford Partner on In-Car Diabetes System
Fridley-based Medtronic worked with Ford Motor Company to develop a prototype system that connects Ford's Sync technology to a Medtronic glucose-monitoring device.
MN Jobless Rate Slid to 6.5% in April
The state lost more than 5,000 jobs in April, but the unemployment rate fell slightly during the month, due in part to revised March figures.
SPS Commerce Pays $10.9M for CA Firm
The acquisition is the company's first since it went public in April 2010-and it will boost clients, support, and research and development efforts.
U of M Chooses Medica as Sole Plan Administrator
The University of Minnesota selected Minnetonka-based Medica from a pool of five candidates to be its sole health plan administrator.
U of M Law School Braces for State Funding Loss
According to MPR, the University of Minnesota Law School could become one of a few public law schools in the nation that don't receive state funding.
U.S. Military Saving $23M with U.S. Bank Service
The U.S. Department of Defense is expanding its partnership with Minneapolis-based U.S. Bank, a move that the bank says could save the military nearly $23 million a year.
2 Real Estate Professionals Plead Guilty in $4.2M Scheme
My Dinh Lam and Ashley Elizabeth Prasil each pleaded guilty to a single count of conspiracy to commit wire fraud in conjunction a scheme to defraud mortgage lenders through the marketing of Cloud 9 Sky Flats development-a Minnetonka condo project of bankrupt St. Paul developer Jerry Trooien.
Artis REIT Continues Purchase Spree in MN
Artis Real Estate Investment Trust is purchasing an office building-605 Waterford Park-in Plymouth and a portfolio of five shopping centers in the Twin Cities for a combined $53.3 million.
Health Plans Must Justify Double-Digit Rate Hikes
A new rule, which stems from the 2010 health-care overhaul, states that any rate hikes of 10 percent or more must be reviewed by regulators. An association representing health plans says that focusing on premiums rather than the factors that drive medical costs won't benefit consumers.
Is There Some Flex in the Arden Hills Plan?
The Vikings are reportedly open to changes in their deal with Ramsey County, specifically regarding how the stadium would be operated. An unrelated media report examines the necessary cleanup-and its price tag-of the contaminated Arden Hills site.
Opus Corp. Quietly Settles Suit Filed by Subsidiary
The Star Tribune, citing "two people familiar with the case," said that the two parties settled last month for $45 million; Opus West had accused its parent company of siphoning tens of millions of dollars and causing its demise.
PA Man Gets 4 Yrs. for Stealing $900K from Best Buy
Joseph Anthony Graziola, III, a 36-year-old man from Glenmills, Pennsylvania, faced up to 20 years in prison for bilking $900,000 from Best Buy through his shipping company, American Same Day Service.
U.S. Bancorp's Joseph Sells 106K Shares Worth $2.7M
A regulatory filing indicates that a U.S. Bancorp executive sold 106,700 shares of common stock at an average price of $25.40 after having paid the option price of $21.93 per share.
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