Though it has lost a lot of stores, downtown Minneapolis may have what it needs—except for a retail advocate.
May 2011 More Back issues
Cover Story
Featured Stories
The hedge fund industry is back—sort of—and Redleaf, the contrarian mind behind Whitebox Advisors, has been trouncing industry benchmarks.
Ten Minnesota achievers tell their stories of great and often sudden changes, and how these unexpected turns drove their personal and professional success.
This year’s International Citizen Award honorees have championed global business growth, innovation, and philanthropy.
Columns
In Norwest Equity Partners’ 50 years, there’s a lesson in risk, reward, and the innovation economy.
Executives should focus on results instead of title.
When competing with other cities for employers and employees, better retail’s a must.
Minnesota's shortage of entrepreneurs-turned-investors is starting to hurt.
Start a church, raise a fortune, dodge the IRS.
Insignia Systems paid folks who hung around through a decade-long legal battle-particularly its shareholders.
In its new ad campaign, Children’s Hospitals and Clinics pulls back the gauziness.
More Stories
The Twin Cities Business virtual technology trade show.
Award-winning local homes with details that are both delightful and practical.
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.
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.
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.
The St. Paul-based company has agreed to be bought by GGC Software Holdings, an affiliate of Golden Gate Capital and Infor.
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.
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 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
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.
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.
For the second month in a row, Twin Cities home prices declined faster than those from throughout the rest of the country.
Larry Gene Hillard, a former Wells Fargo loan officer, fraudulently helped secure loans for 12 properties, which resulted in $1.4 million in losses.
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.
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
The two companies are researching a way to administer a new drug to the brain using an implantable drug-delivery system.
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.
The center's five biggest consumer shows saw attendance increases ranging from 6 percent to 26 percent compared to last year's attendance.
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.
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 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.
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
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.
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.
The planned site will include a 90-unit senior living facility, a McDonald's restaurant, and four acres for further business development.
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.
According to the Star Tribune, Bixby Energy Systems is facing claims from board members and investors that the company has been mismanaged, which is putting the company at risk.
Under the terms of the agreement, Toshiba Medical Systems Corporation will pay $18.75 for each of Vital Images' outstanding shares.
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
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.
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.
Two former real estate professionals pleaded guilty on Thursday to a single count of conspiracy to commit wire fraud in connection with their roles in defrauding mortgage lenders out of $4.2 million, according to the
Treat your guests to a day on the lake or an afternoon on the river.
Product and packaging design? Branding? In-store design? Knock says yes to them all.
People want solar power. Solarflow Energy wants to help them overcome the barriers to getting it.
Change demands more than enthusiasm and a good cause. Business education is providing social entrepreneurs with the skills they need.
A more inventive sweet course at Heidi’s.
We interviewed these local small-business owners during tough times. Now, they’re cautiously optimistic.
W3i takes its free download model to the mobile gaming world.
Two former real estate professionals pleaded guilty on Thursday to a single count of conspiracy to commit wire fraud in connection with their roles in defrauding mortgage lenders out of $4.2 million, according to the
“Action learning” is the hot trend in leadership training. That means your class project might seem strangely familiar.
Product and packaging design? Branding? In-store design? Knock says yes to them all.
A new exhibit traces an iconic Minnesota company from Victorian cover-ups to va-va-voom.
Cima NanoTech plans to be in more touchscreens, flat screens, and even windows.
Twin Cities venues now have the Toepener installed on their restroom doors.
Two former real estate professionals pleaded guilty on Thursday to a single count of conspiracy to commit wire fraud in connection with their roles in defrauding mortgage lenders out of $4.2 million, according to the
U.S. Bank ventures closer to it with pay-by smartphone technology.
Two former real estate professionals pleaded guilty on Thursday to a single count of conspiracy to commit wire fraud in connection with their roles in defrauding mortgage lenders out of $4.2 million, according to the
Best Buy and Target ranked further down the list-although the report indicates that both companies' reputations have improved during the past year.
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
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
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.
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 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
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.
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.
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.
The city is funding 15 small businesses through its Great Streets Neighborhood Business District program.
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 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-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.
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.
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.
Led once again by UnitedHealth Group, 20 Minnesota companies were listed among the 500 largest companies in the country.
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.
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.
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."
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.
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.
The Star Tribune and the Pioneer Press saw a jump in newspaper circulation based on traditional reporting methods.
The Amalgamated Transit Union Local 1005, which represents about 2,200 Metro Transit employees, approved a new contract.
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 expects the acquisition of Solidscape, which had 2010 sales of $13.4 million, to add about 4 cents per share to its 2011 earnings.
The company said that increased sales were driven by the late Easter holiday, which moved pre-Easter sales from March into April this year.
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
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
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.
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.
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.
A Ramsey County commissioner told the Pioneer Press 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
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
According to the Pioneer Press, on-site health clinics like the one HealthPartners is opening in the Anoka County Courthouse might be regaining some steam as the economy improves.
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.
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.
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
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 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.
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
The Northern Lights Express proposed rail project received a $5 million grant from the federal government for engineering and environmental work.
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
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.
Omar Ishrak will assume his new position on June 13 and replaces four-year CEO William Hawkins, who is retiring.
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.
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
Ray Elliott, who has led the medical device giant since 2009, will serve on a CEO search committee that will select his successor.
The new company will be a 50-50 joint venture between Cargill and Teys Bros Pty., Ltd.-an Australian beef-processing company.
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.
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.
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.
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.
Approximately 58 percent of the outstanding shares held by non-Cargill shareholders were cast in support of the deal.
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
Best Buy is reportedly looking into selling electronic vehicles, thus expanding upon its other electronic transportation offerings-including Brammo electric motorcycles.
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.
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.
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
The company, which emerged from bankruptcy two years ago, is exploring "strategic alternatives," including a possible sale.
Renee Marie Brown of Golden Valley is accused of defrauding investors and using their funds to buy a condominium and pay off credit cards.
The offering follows Cargill's plan to exchange a portion of its Mosaic stock for Cargill debt held by third parties.
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
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.
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
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.
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
The company said that the additions are in response to organic growth that it experienced in 2010 and has continued to see in 2011.
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.
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
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.
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
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.
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.
The food manufacturer will pay 810 million euros, or about $1.15 billion, for a 51 percent controlling interest in the yogurt maker.
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.
The Wayzata-based bank holding company is giving the incentive to new customers after they complete 10 checking account transactions.
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.
Based on 3M's Wednesday stock closing price of $93.94, the sale of the shares would be worth $32.9 million.
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.
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.
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.
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.
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.
The University of Minnesota selected Minnetonka-based Medica from a pool of five candidates to be its sole health plan administrator.
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.
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.
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
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
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
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
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.
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.