Tom Petters

  • Petters arrested in fraud investigation
    Twin Cities businessman Tom Petters was arrested and jailed today on charges he defrauded investors of more than a billion dollars.October 3, 2008
  • Sun Country Airlines warns of possible shutdown
    Struggling Sun Country Airlines has warned its employees that they should be prepared for potential major layoffs or even a shutdown as early as Dec. 1, though the carrier sought Thursday to downplay that message.October 2, 2008
  • Petters exec charged with fraud
    Robert Dean White, a former officer of Petters Co. Inc., was charged today with fraud for creating false purchase orders to lure investors to the company.September 30, 2008
  • Sun Country to defer half of employee pay
    Mendota Heights-based Sun Country Airlines says it must defer 50 percent of employees' pay through the end of the year to become independent of its parent company, Petters Group Worldwide.September 30, 2008
  • Petters resigns in wake of fraud investigation
    Less than a week after a federal raid on his home and corporate headquarters, Twin Cities businessman Tom Petters has resigned from the company that bears his name.September 29, 2008
  • Warrant alleges fraud by Petters
    The FBI said it has recordings of Twin Cities businessman Tom Petters repeatedly admitting to defrauding investors.September 26, 2008
  • Petters meets with employees after search
    Tom Petters met with employees Thursday morning, a day after federal authorities searched the Petters Group headquarters and removed boxes of documents.September 25, 2008
  • Federal authorities investigate Petters Group
    A federal search warrant is being executed at the headquarters of Petters Group Worldwide, which has Sun Country Airlines and Polaroid among its holdings.September 24, 2008
  • Sun Country now controlled by Petters Group
    Mendota Heights-based Petters Group Worldwide now owns more than 80 percent of Sun Country Airlines. Petters bought out co-owners Whitebox Advisors, a Minneapolis-based hedge fund, on Friday and is now solely responsible for Sun Country's operations.November 16, 2007
  • Petters Group buying all of Sun Country Airlines
    Petters Group Worldwide becomes the sole owner of Sun Country Airlines.November 16, 2007
  • Tom Petters -- the Mr. Fixit of business
    Tom Petters likes fixing companies -- turning around apparently failed investments. He's done that with Fingerhut, Polaroid and a number of other enterprises. Now he has two more fixer-uppers in Minnesota -- Sun Country Airlines and an empty airlines maintenance base in Duluth.October 9, 2007
  • Duluth negotiating with Petters to fill vacant airbase
    The parent company of Minnesota's Sun Country Airlines may be the new tenant for the former Northwest Airlines maintenance base in Duluth. The deal could reactivate a multimillion dollar facility that's been empty for two years.June 18, 2007
  • Fingerhut anniversary recalls tumultuous year
    One year ago, Federated Department Stores announced its Fingerhut subsidiary would probably close in a matter of months. Today the Fingerhut name survives, but the economic upheaval of the past year is far from over.January 16, 2003
  • Hopes ride on new catalog
    It has been six months since the last customer placed an order with Fingerhut. This weekend the company got back in business as the first new catalogs went in the mail.November 11, 2002
  • St. Cloud workers hope for jobs at Fingerhut
    Fingerhut workers in St. Cloud are relieved that Twin Cities investors Ted Deikel and Tom Petters have finally closed a deal to by the catalog company. It's uncertain just how many workers will be rehired at the St. Cloud warehouse. But workers are confident that over time, the company will rehire most of the 2,600 workers it employed six months ago.July 25, 2002

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