McNamara gave millions to his alma mater, the University of Minnesota, and enjoyed an unconventional career of buying bankrupt or foreclosed small businesses and using borrowed money to resurrect them.
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Eden Prairie-based Gelco has agreed to pay the money in connection with a business deal that dates back to 2005; $2.1 million would go to Hecker's bankruptcy trustee on behalf of Hecker's creditors, $1.5 million would go to U.S. Bank, and $500,000 would go to Chrysler.
Shares of the company's stock fell Tuesday morning after Medtronic announced a 19 percent drop in fourth-quarter earnings, largely due to layoff expenses and weak implantable cardioverter defibrillator sales.
Recently released data shows that Minnesota businesses received more than $27 million in 2010 through two federal grant programs-the Small Business Innovation Research and Small Business Technology Transfer programs.
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Recently released data shows that Minnesota businesses received more than $27 million in 2010 through two federal grant programs-the Small Business Innovation Research and Small Business Technology Transfer programs.
The Minneapolis Fed said that banking conditions in the Midwest remained relatively flat during the first quarter, but Senior Vice President Ron Feldman expects improvement during the rest of the year.
According to the Star Tribune, Rimage CEO Sherman Black wants to reduce the company's dependence on disk duplication by starting an online service for customers.
The Minneapolis-based bank will pay $1.2 million to resolve allegations that it failed to comply with FHA requirements in connection with 27 mortgage loans that resulted in losses of more than $465,000.
The lawsuit-which was filed in February-reportedly has Duluth-area hotels worried that the city will become blacklisted from Expedia's Web site.
Once the acquisition closes, Pacific Plastics & Engineering will become an operating subsidiary of Cretex Companies, which already operates several other manufacturing companies.
June 14th marks the 30th anniversary of a tornado that tore through Sound of Music's flagship Roseville store. The company responded with a "tornado sale"-promoted as a "best buy"-and its success prompted a name change to Best Buy in 1983.
Consumers have reportedly responded favorably to smaller versions of Dairy Queen Blizzards, which launched last month; the company's chief brand officer says that "consumers are willing to pay a little bit of a premium" for them, which has helped operators protect their margins.
The first Minnesota Suppliers Showcase will kick off on May 24; it will convene small suppliers and sourcing departments with large corporate and government purchasers in the hopes that the two parties may form partnerships.
Lunds, which has long considered opening a grocery store in downtown Minneapolis, is now moving forward with plans for a 20,000-square-foot supermarket and a 5,639-square-foot liquor store, pending approval from the city.
Murray J. Harpole started the company in 1966 and became its first CEO; 20 years later, after 15 at the helm and another five on its board, Pentair's revenues totaled $1.2 billion and it employed more than 8,000.
More than 2,500 state government workers are reportedly expected to retire this year, compared to 2,058 last year.
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 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.
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.
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