Lawyers for Subramanian Krishnan and the U.S. Securities and Exchange Commission reached a “tentative settlement,” which must be approved by the SEC in Washington, D.C., a process that can take several months, before being sent to a judge for approval.
Banking + Finance
Coca-Cola’s chief executive has been elected to 3M’s board of directors; meanwhile, 3M’s CEO said the company’s new dividend and share repurchase program reflect “confidence in 3M’s future.”
Chad Arthur Anderson received a five-year sentence, while Troy Allen Huston was sentenced to four years and nine months; their fraud scheme involved 32 Minnesota properties.
The strong quarterly results were driven by an increase in wealth management clients.
It’s unclear what exactly the future holds for the property, but the new owner reportedly plans to disassemble the plant and will not reopen the paper mill.
Greg Fluet, who has served as interim CEO since November, takes the helm at a time when the company’s stock is struggling to meet Nasdaq’s minimum bid price requirements.
Associated Bank is reportedly alleged to have either knowingly helped to facilitate or been willfully indifferent to the Ponzi scheme, ignoring red flags of fraud and insolvency and violating the Bank Secrecy Act and anti-money laundering guidelines.
Brookfield Properties, which is looking to exit the Twin Cities market, has agreed to sell the building to a California-based real estate investment trust.
South Carolina-based Comfortaire, which makes “adjustable air-supported sleep systems,” had revenues totaling $10.5 million in 2012.
A casual small-plates spot for diners who like to eat late.
Regulators said the bank failed to properly report transactions that might have been linked to terrorist activities.
Cornerstone Capital Management’s Andy Wyatt bet that a ‘dream team’ of money managers could get Wall Street’s attention. It just took a little longer than expected.
Two Twin Cities retailers led by longtime friends join forces to form a $1.3 billion business.
New Brighton-based Johnson Screens, which makes water treatment equipment and employs 250 people in Minnesota, has agreed to be acquired by Germany-based Bilfinger.
Minnetonka-based First Minnesota Bank will acquire the assets of 1st Regents Bank in Andover, which was shuttered by regulators.
Barbara Kaye Rechtzigel, former senior operations manager at Minnwest Bank in Marshall, embezzled money for her personal use, primarily to pay off shopping debts.
Despite the recent sales and earnings increases, Fastenal’s pace of growth has slowed compared to 2010 and 2011.
Net income climbed 5.2 percent as revenue rose modestly in the fourth quarter, closing out a strong year for the bank-holding company.