The company is projecting 2013 sales of $152 million, about half as much revenue as it reported a few years ago.
Banking + Finance
SmartThings—which allows users to control household and other devices using a smartphone—has now raised $15.5 million in venture capital, in addition to the $1.2 million that it “crowdfunded.”
Stock sales by Best Buy’s founder and his family foundation top $200 million since September.
A merger involving the 26-lawyer Minneapolis firm Mackall Crounse & Moore marks the third significant law firm combination in the Twin Cities during the past couple of years.
The agency said that it is eliminating upfront borrowers’ fees for veterans who receive a loan worth up to $350,000 through the SBA Express Loan Program.
Could the Affordable Care Act lead to a decline of mergers and acquisitions in Minnesota or just a more complex vetting process?
The International Institute of Minnesota has trained and graduated close to 2,000 nursing assistants over the last two decades.
An amendment to Dolan’s loan agreement also moves up a due date, reduces the amount of money available in a revolving credit facility, raises the interest rate, and limits capital expenditures, among other things.
Thrivent says California’s Controller is requesting too much personal information about Thrivent members; the Controller counters that he’s entitled to the records for auditing purposes.
The hair salon operator said its quarterly financial results were negatively affected by investments that are key to its turnaround strategy.
The South Minneapolis eatery seeks $100,000 through Kickstarter, a level of funding obtained through the site by few other restaurants.
Mosaic, one of Minnesota’s 10 largest public companies, said its revenue fell almost 30 percent last quarter; its stock, meanwhile, has dropped nearly 20 percent in 2013.
An investor group says ValueVision is underperforming and needs a new chief executive; the company, meanwhile, pointed to its climbing stock price as indicative of a successful turnaround strategy.
CVRx raised $12 million in its latest round, bringing its total investments to $251 million since the company was founded in 2001.
In a partnership that may draw Target some new customers, the retail giant is offering health benefit discounts to Medica members.
The 3M spin-off sold one of its businesses in an attempt to turn itself around, but its quarterly loss was worse than analysts expected.
The building, which will be owned by Maurices, will be 10 to 12 stories, rather than the previously planned 15, and the overall cost will be reduced as well.
Although Norcraft will be only the second Minnesota company to complete an initial public offering this year, the state may be poised for more.