Members of the Aircraft Mechanics Fraternal Association are gathered Wednesday to hear the details of their tentative contract with Northwest Airlines. If the union's almost 10,000 workers approve the deal, it would end more than four years of acrimonious talks. But Northwest's separate announcement - that its loss in the latest quarter nearly tripled to $123 million - highlights the difficult conditions the airline faces.
Northwest Airlines and its mechanics union are awaiting a vote by union members, to see if a tentative contract agreement reached early Monday morning will end their more than four-year-old labor dispute.
The Minneapolis Federal Reserve office says the state's economy should continue to grow, but not as fast as it did in the last year. Others say the Fed's predictions are too optimistic, and consumers and investors should be prepared for a downturn and maybe a recession.
The state Department of Commerce predicts demand for electricity in Minnesota will outstrip supply in five years. Now business leaders and others are urging state regulators to prevent a shortfall without permitting big price hikes.
General Mills shareholders overwhelmingly approved the company's plans to buy Pillsbury from London-based Diageo. Combining the two old-line Minneapolis firms will produce the nation's third-largest food company, with combined revenues of roughly $13 billion. While most analysts think the merger makes sense, some are still worried General Mills is making a risky bet.
General Electric executive James McNerney will be 3M's new CEO. In announcing the move, 3M ended months of speculation over who would take over when current CEO L.D. DeSimone retires. McNerney's challenge will be to apply General Electric's decisive, profit-centered management philosophy to 3M's culture of innovation.
The dot-com boom seemed too good to be true; it was. The tech-heavy NASDAQ is down 35 percent from its high last March. Nationally, 22,000 employees of Internet companies have been laid off, and scores of dot-coms have closed their doors. In the Twin Cities, once high-flying firms Internet firms - including Net Perceptions and Techies.com - have laid off hundreds of staffers. Now these companies are trying to do something different: turn a profit.
Agriculture was the focus as Gov. Jesse Ventura's trade mission to Mexico entered its final day. Governor Ventura and Minnesota agricultural representatives visited the city of Guadalajara, where they toured a food processing plant and met with local government officials. Minnesota farm cooperatives along on the trip are hoping the contacts will help their members find new markets for their crops.
Gov. Jesse Ventura spent a final day in Mexico City Wednesday, meeting with President-elect Vicente Fox. Later he went to a hospital to see how technology, developed by Twin Cities-based Medtronic, is helping victims of epilepsy and Parkinson's disease.
Representatives from more than 40 Minnesota companies and agricultural concerns say they're getting into the serious business portion of a six-day trade mission to Mexico led by Gov. Jesse Ventura. Ventura says the time is right, six years after the signing of the North American Free Trade Agreement, for Minnesota companies to boost trade with Mexico.
Gov. Jesse Ventura has completed the first official day of his six-day trade mission to Mexico. Ventura met outgoing Mexican President Ernesto Zedillo at the Mexican Presidential Palace and later gave a speech to the American Chamber of Commerce in Mexico City. He and many Minnesota company representatives who've joined him on the trip, finished off the evening at a reception at the residence of the U.S. ambassador to Mexico.
Governor Ventura embarks on the first full day of his Mexican trade mission. His visit comes at a momentous time in the country's history. For the first time in 71 years, the dominant political party is handing over power to an opposition leader.
When Milwaukee-based Firstar agreed to acquire U.S. Bancorp, the deal attracted national attention, not least because the CEOs of both banks - Jerry and Jack Grundhofer - are brothers. It's younger brother, Jerry's, company - Firstar - that's taking over Jack's bank. While Jack will serve as chairman until 2002, Jerry, as CEO and president, will run the show.
General Mills has made it official, it's acquiring hometown rival Pillsbury from British foods company Diageo for $10.5 billion. Transcontinental dealings such as this are nothing new to the Twin Cities food business.