Federated Department Stores is expected to finalize a deal over the weekend to acquire the owner of Minneapolis-based Marshall Field's. Marshall Field's is owned by May Department Stores Company. May bought Marshall Field's last year and has left the Minneapolis operation intact. But if May itself is sold to Federated, experts predict many local jobs would go away.
Last month, Delta slashed its most expensive fares by as much as half and eliminated the much-despised Saturday night stay requirement. One Wall Street analyst says the change could cost airlines billions of dollars if it's adopted across the industry. But some experts say the effect may be minor and could even help the industry.
American Express is spinning off its Minneapolis-based money management arm to shareholders. The change brings new uncertainty to American Express Financial Advisors, which has been trying to improve its investment performance.
The Current -- 89.3 -- will feature a broad range of popular music in an effort to attract a younger audience to MPR.
Nationally, corporate combinations finally picked up towards the end of last after a slow-down starting in the recession year of 2001. Several factors are likely to fuel more deal making this year. Here's how the trends might affect Minnesota.
Minnesota's history of building the fastest and most powerful computers in the world dates back to the early 1960s. The supercomputer industry fell on hard times in the 1990s, but now may be poised for a renaissance.
Health products giant Johnson and Johnson is buying Indianapolis-based Guidant Corp., one of the world's top makers of cardiac devices. Guidant employs about 3,000 people in Minnesota.
Health products giant, Johnson & Johnson, is expected to announce it will buy Indianapolis-based Guidant, a medical device maker with about 3,000 employees in Minnesota. Guidant is a major player in a rapidly growing area of using hardware, instead of drugs, to treat heart disease.
The Securities and Exchange Commission is looking into the pension accounting at six big companies, including Eagan-based Northwest Airlines. The SEC says it doesn't have any evidence of wrongdoing. Officials are making inquiries to see if companies deliberately tinker with their pension numbers to make their profits or other financial results look better.
Edward Prescott, the former University of Minnesota economist who shared this year's Nobel Prize for economics, shared in the celebration over his award during a visit to Minneapolis Tuesday. His colleagues praised his contributions to the field.
The departure of Northwest Airlines CEO Richard Anderson caught many by surprise. He is taking a top job at UnitedHealth Group after three tough years in the airline industry; a period that has seen the departures of most major airline CEOs.
Two high-powered business groups are developing proposals to spend billions of dollars to address transportation woes in the Twin Cities and Greater Minnesota. The Itasca Project and the Minnesota Chamber of Commerce are both considering increases in the gas tax and other funding proposals. But their ideas face an uncertain political future.
The nation's economic recovery officially began almost three years ago. But judging from job numbers, government workers in Minnesota, especially those in local government, are in more of a recession than a recovery. City and county governments and public schools in Minnesota have lost thousands of jobs in the last year. Wages fell behind inflation as well.
When hot companies like Google issue stock it can get a lot of attention. But after selling stock to the public, companies sometimes buy some of it back. After selling the Marshall Field's chain, Target Corporation announced it would spend up to $3 billion to buy its own stock. We wondered why companies sometimes want their shares back.
Minnesota has a proud history of entrepreneurship. Pioneers like Curt Carlson, Earl Bakken of Medtronic, Bill Norris of Control Data, and Richard Schulze of Best Buy built billion-dollar success stories and created thousands of jobs in Minnesota. But lately the state's entrepreneurship is lagging, and that's raising concerns about Minnesota's future prosperity.