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$166M Settlement in Mervyn’s Suit Against Target, Others

Unpaid creditors of Mervyn’s reportedly sued more than 30 entities connected with its 2004 sale, including Target Corporation; they accused the entities of stripping out the now-defunct retailer’s valuable real estate assets to fund the purchase.
TCB Wins “Magazine of the Year,” 15 Other Awards

TCB Wins “Magazine of the Year,” 15 Other Awards

The magazine received the premier award—along with six gold awards, four silver awards, and five bronze awards—at the Minnesota Magazine & Publishing Association’s 2012 awards event, which recognizes excellence in publishing.

St. Jude Cuts Another 500 Jobs, 100 in MN

As part of a reorganization plan that the company expects will help cut costs, St. Jude will reduce its global work force by approximately 5 percent—in addition to the 300 jobs it eliminated in August.

CA Video Game Publisher to Lay Off 31 in MN in Dec.

A spokeswoman for Activision Publishing, Inc., said that the local division is expected to release fewer games based on third-party licenses as compared to 2012 and that the realignment will better reflect “our slate and the market opportunities.”
Target’s Oct. Sales Up, Miss Expectations

Target’s Oct. Sales Up, Miss Expectations

The retailer is optimistic about the holiday season even though its October same-store-sales increase of 2.4 percent was “near the low end” of its expectations and failed to meet Wall Street predictions.

Land O’Lakes Profits Rebound, Sales Up in Q3

President and CEO Chris Policinski said in a prepared statement that the co-op’s strong third-quarter results were driven by its dairy foods and animal feed businesses—and he expects to end the year strong.

Image Sensing Systems Interim Leader Named CEO

The company said that Kris Tufto, who has served as interim president and CEO since August, will assume those positions on a permanent basis; meanwhile, third-quarter financial results suggest that the struggling company may be turning itself around.

Edina Realty Parent To Quadruple Footprint

Residential real estate brokerage firm HomeServices of America has formed a new joint company that will launch a real estate brand called Berkshire Hathaway HomeServices and more than quadruple its network of brokers from about 16,000 to more than 69,000.
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