Robert Dufresne of Cottage Grove admitted to defrauding investors out of more than $5 million in a house-flipping scheme that spread across multiple states.

Tom Petters' defense says that the district court restricted it from fully exposing Larry Reynolds-who has a criminal background as a New England mobster-thus thwarting its argument that Reynolds engineered the fraud scheme for which Petters is serving a 50-year prison sentence.

Following backlash stemming from a political contribution that the company made last summer, CEO Gregg Steinhafel and a policy committee of senior executives are now together responsible for vetting political donations.

The offices of bankrupt real estate developer Jerry Trooien were searched Thursday by the FBI and IRS for evidence relating to an alleged fraud scheme.

The company, which previously announced a five-year growth plan including a $1.5 billion investment in its Radisson brand, has reached significant milestones during the first year of its strategy.

The layoffs are part of a restructuring effort that began in 2008 in order to adjust to the slowdown in financial markets, where many of the company's clients are concentrated.

Christi Rowan, who pleaded guilty in April to one count of bank fraud and one count of bankruptcy fraud, has asked for a lenient sentence, while federal prosecutors seek the maximum six-month sentence.

Gary Hendrickson, who is currently the company's president and chief operating officer, will succeed William Mansfield.

The company is updating the labeling for its implantable infusion pumps and sent a letter to doctors last month to remind them about how to refill the pumps correctly and thus avoid problems.

The state had 5.8 unemployed people per job vacancy in the fourth quarter of 2010, down nearly 30 percent from the previous year when there were 8.2 unemployed people for each vacancy.

A start-up tech firm in California claims that Best Buy stole its buy-back program model after it was led to believe it was entering into a partnership with the Richfield-based retailer.

Aspen Research Corporation has been sold by Andersen Corporation to a local investor group for an undisclosed amount.

The additions bring the office building's vacancy rate to about 8 percent, well below the average vacancy rate for Minneapolis-which was at 17.9 percent at the end of 2010, according to Cassidy Turley.

More than 120 Minnesotans will lose their jobs as the retailer closes 200 underperforming stores nationwide-four in Minnesota-as it reorganizes under Chapter 11 bankruptcy protection.

Alison Davis-Blake, who has been dean of the University of Minnesota's Carlson School of Management for almost five years, will leave her post this summer to lead the University of Michigan's business school.

The Iowa-based company has agreed to purchase the stores from Trimont-based NuWay Cooperative.