The founder of Ridgeway International-a Minnetonka-based event and transportation management business-listed assets of $1 million and liabilities of $4.6 million.

The company lowered its fiscal 2011 earnings guidance following third-quarter sales that were "softer than . . . anticipated"-and Wall Street responded unfavorably as Supervalu stock reportedly reached its lowest levels since late 1984.

The decision means that medical residents are not considered "students" by law and will continue to be required to pay income taxes on their earnings.

First Option Mortgage opened an office this week in Edina, only a couple of months after MetLife Home Loans expanded to Minnesota.

The Minneapolis-based retailer will open new stores in 12 states, including one in Woodbury, which is slated to open in March.

The land sale "is part of the orderly wind-down and liquidation of Opus Northwest's assets for the benefit of its creditors," according to a turnaround professional who's overseeing the liquidation.

According to Forbes, customers buying smartphones at a promotional price-or even free with a two-year agreement-can turn a profit under Best Buy's new buy-back program.

The company's stock dropped nearly 20 percent on Monday as Wall Street displayed concerns about proposed regulations affecting the funding and enrollment of for-profit schools.

With roughly three job seekers per opening, the area's employment is expected to recover fully by mid-2011.

The company is refocusing on data storage technology-but it's still marketing some new electronics products, including a TDK stereo reminiscent of retro boomboxes.

Steven Leach says that Denny Hecker should pay "most" of the restitution that he owes to Chrysler Financial, but prosecutors argue that Leach "played a crucial role" in defrauding Chrysler and should be held responsible.

The company has reportedly phased out its Magnitude product line, which was produced in Eden Prairie, prompting the move.

Media reports indicate that the electronics retailer has landed deals with both Ford and General Motors.

Larry Barenbaum, who has served as interim CEO for the company since October, will now officially assume the permanent position.

Pamela Marie Dellis, a former auditor with the Minnesota Department of Revenue, allegedly created false tax refunds to embezzle $1.9 million from the state.

An initiative called 1,000 Supporters includes legal professionals from across the state who seek funding for the financially strained judicial system.