The two senators reportedly believe that the 2.3 percent tax on medical device sales will hurt companies’ profits and lead to job losses in the country.
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Michael Francis, who spent more than two decades at Target Corporation before leaving last year and then serving brief stints at J.C. Penney and Gap, has become DreamWorks Animation’s first-ever chief global brand officer.
The company, citing a downturn in the global electronics market, cut roughly 20 positions, and the reductions were split between its Minnesota headquarters and its Singapore operations.
New store openings in the United States and in Canada have also helped the women’s clothing retailer, which posted record sales in its most recent quarter.
According to Bloomberg, Cerberus Capital Management LP—which was previously considering making a bid for the company as a whole—might instead seek control of its two largest chains, Albertsons and Save-A-Lot.
The sugar producer’s net proceeds declined 32 percent in its 2012 fiscal year, and the union representing its locked-out workers say that’s because of the higher costs associated with having replacement workers.
Despite warnings from economists that the “fiscal cliff” could have dire consequences for the U.S. economy, more than half of those who responded to a recent poll indicated that it might be sensible to take the plunge.
Target’s collaboration with Neiman Marcus got off to a slow start, according to a report; in a move unrelated to the partnership, Target Chief Marketing Officer Jeff Jones said in a new video that the retailer will focus on “content instead of campaigns.”
TechForward accused Best Buy of stealing its concept for a buy-back program; Best Buy said it “completely disagrees” with the size of the award in the case and plans to “vigorously challenge this verdict.”
Governor Mark Dayton has reportedly said he is committed to making tough tax and spending decisions in order to eliminate the projected deficit.
The company said “there is no formal targeted breakdown” for layoffs by state; it plans to reduce its work force through job cuts, by hiring fewer contractors, and through natural attrition.
U.S. Bancorp CEO Richard Davis anticipates “substantially lower” revenue growth next year, due to which the company plans to open fewer branches.
Recently-formed Silver Bay Realty Trust Corporation, which will buy distressed properties for rental and resale, is hoping to raise between $238 million and $265 million through an initial public offering.
Eagan-based Prime Therapeutics and Bloomington-based The Nerdery are among 100 companies from across the country that received “Hire Power Awards.”
Upscale retailer Saks Fifth Avenue’s discount division will open a 28,000-square-foot anchor store at a planned outlet mall in Eagan.
Aetrium recently declared a proxy vote moot because a group of dissident investors was unable to establish a quorum; the investor group is now suing the company and accusing its directors of a “gross violation of shareholder rights.”
The city’s permitted construction projects surpassed the $1 billion mark for the first time since 2000.
The metro area ranked third on Travel + Leisure magazine’s list of “America’s favorite cities” based on ratings of readers who are visitors to the area; it ranked 12th based on ratings of those who reside here.