Economic Downturn
Economic Downturn
  • Little Falls waits for impact of Genmar bankruptcy
    Minneapolis-based Genmar Holdings has filed for bankruptcy protection. The company is headed by Twin Cities businessman Irwin Jacobs, and makes Glastron and Larson boats in Little Falls.June 2, 2009
  • Boatmaker Genmar files for bankruptcy protection
    Amid a downturn in the boat-building industry, Minneapolis-based Genmar Holdings has filed for bankruptcy protection. The privately-held company is headed by Twin Cities businessman Irwin Jacobs.June 1, 2009
  • Cirrus Design rehires 50 employees
    The Duluth-based company says it's bringing back those employees because of strong demand for its aircraft, both domestically and overseas.June 1, 2009
  • Arctic Cat cuts 60 jobs
    Thief River Falls-based Arctic Cat will eliminate 60 positions, or approximately 5 percent of its 1,200 employees, the company said in a statement.May 29, 2009
  • Kato Engineering cuts nearly 100 jobs in Mankato
    Electrical generator maker Kato Engineering says it's cutting 20 percent of its workforce, or 94 jobs.May 28, 2009
  • Wider measure of unemployment paints darker picture
    The official U.S. unemployment rate is 8.9 percent. But the government has another measure that tell a truer story of how American workers are faring. By that measure, the unemployment rate is nearly 16 percent.May 28, 2009
  • Jobs picture improves in April
    Job losses are slowing somewhat in Minnesota. The state lost 9,500 jobs from March to April, a significant improvement from most recent months.May 21, 2009
  • Minneapolis steps up inspections of neglected buildings
    The city of Minneapolis this week begins rolling out a new program to inspect commercial buildings, in an attempt to make them safer for neighborhoods and first responders. But some building owners say the new fees to pay for the program are excessive.May 20, 2009
  • Medtronic to cut 1500+ jobs, 600 in Twin Cities
    Medical device maker Medtronic Inc. says it will reduce its global work force by 1,500 to 1,800, with about 600 of the jobs coming from the Twin Cities.May 19, 2009
  • Another Twin Cities hospital cuts jobs
    North Memorial Health Care in Robbinsdale says it will reduce its work force through layoffs and reduced hours, which will impact about 170 employees.May 18, 2009
  • Chrysler lists 20 dealers for closure in Minnesota
    Chrysler LLC wants to close 20 Minnesota dealerships as part of a nationwide move to eliminate 789 dealerships.May 14, 2009
  • HCMC announces layoffs
    Hennepin County Medical Center said today it is eliminating up to 100 full-time equivalent positions, and putting off a major capital improvement projects.May 13, 2009
  • Social Security and Medicare finances worsen
    The financial health of Social Security and Medicare, the government's two biggest benefit programs, have worsened because of the severe recession, and Medicare is now paying out more than it receives.May 12, 2009
  • Metro housing market improves in April
    The Twin Cities housing market continues to show signs of improvement, with home sales going up by 7 percent in April.May 12, 2009
  • Northshore Mining extends shutdown
    Taconite producer Cliffs Natural Resources has extended a shutdown at its Northshore Mining company in Babbitt and Silver Bay.May 5, 2009

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