Twin Cities-based 3M and Imation reported profits Monday. 3M's declined, but its share price rose. Imation posted a big jump in profits, but its stock fell.
Minnesota Public Radio said Thursday it plans to stay in St. Paul and expand its downtown headquarters. MPR will keep its current building. It will also purchase a building opposite its current headquarters, across the street to the north, for nearly $8 million and acquire a vacant triangle of land across the street to the west.
The new head of the St. Paul Cos. says the company is not for sale, but there are things that need fixing. The number four U.S. business insurer Thursday named Jay Fishman of Travelers Insurance Group to head the state's oldest corporation. Fishman says he wants employees to spend corporate dollars with the same care as they spend their own.
Economists say the terror attacks on the East Coast increase the odds of a recession. While disagreeing on the severity of the impact, they generally agree the consumer's reaction is key.
In Minnesota Ventura administration officials say they have no indication that there are any targets of attack in the state. State buildings remained open, with restricted access. The primary election continued, as well. Several high-profile private buildings were closed as precautions. Twin Cities International Airport was shut down as the FAA grounded the nation's air transportation system.
Under pressure from Minnesota Attorney General Mike Hatch, the state's largest health system will split into two independent organizations and make changes in top management. Allina Health System says its hospital and clinic division will separate from its Medica HMO. Hatch has been conducting an audit of the organization and has criticized Allina's spending and financial management. But Allina officials say the decision is not part of any deal, and that Hatch affected little more than the timing of the decision.
Oakdale-based Imation is marking five years of survival as an independent company. The businesses spun off from 3M in July 1996 have struggled to post a profit and the workforce is down by more than half. But the company's CEO says the company's outlook is positive.
With the European Union blocking General Electric's $45 billion purchase of Honeywell International, 6,200 Honeywell employees in Minnesota are wondering what's ahead.
The vigorous debate over Minnesota's future in a high tech world has featured a variety of prescriptions for prosperity - like using taxpayer dollars to invest in Minnesota start-ups, and spending more state money on high tech research. Now, some controversial new research from Carnegie Mellon University suggests cities that want to promote high tech industry should make themselves attractive to gay men.
Minnesota's unemployment rate last month hit the highest level in more than four years.
A string of layoffs by Twin Cities companies like 3M, ADC Telecommunications, and a host of smaller firms tell the tale - the job market in Minnesota is softening. Claims for unemployent insurance in Minnesota through most of April soared by 67 percent, compared to the same period last year. And though unemployment remains low, state officials expect it to rise. People looking for a new job will tell you it's harder than they expected.
The economic slowdown is taking a toll on Minnesota's job market. Unemployment remains low, but layoffs and jobless claims are soaring and job growth has shrunk by half. The spate of job cuts is also raising concerns about Gov. Jesse Ventura's goal of cutting state funding for a program to help laid-off workers.
Spring is proxy season, when publicly-traded corporations have to reveal what they pay their top brass. Pay packages for CEOs skyrocketed over the 1990s, surpassing gains in corporate profits and the S&P 500. This spring, with investors nursing their wounds from a punishing drop in stocks, CEOs are taking more heat from shareholders over huge pay packages. And some Minnesota companies are in the crosshairs.
A key lawmaker says he plans to hold a hearing on spending by Allina Health System. Sen. Doug Johnson contends that lucrative consultant contracts, expensive golf and resort outings, basketball tickets and other expenses are driving up health care premiums.
Gov. Jesse Ventura stumped for his budget at a meeting of the state's largest business group, and got a more friendly reception than some other business interests have offered recently.