Finance and Commerce Daily Newspaper, MN articles from August 2008

Finance and Commerce Daily Newspaper, MN archives from August 2008

Dean of Univ. of Minn.'s Carlson School of Management appointed to international biz school board.
August 1, 2008... Byline: Kendall Anderson Alison Davis-Blake, dean of the University of Minnesota's Carlson School of Management, was appointed to a three-year term on the board of directors for the Association to Advance Collegiate Schools of Business...

Twin Cities housing activity increases slightly from June.
August 1, 2008... Byline: Brian Johnson Local homebuilding activity showed some flickers of life in July, but industry analysts aren't prepared to shoot off the celebratory fireworks just yet. The latest numbers from the Keystone Report, which tracks...

Wisconsin Supreme Court rules market-based assessments should set property taxes.
August 1, 2008... Byline: Mark Anderson A team of Twin Cities attorneys helped make earnings a little safer for many national retailers when the Wisconsin Supreme Court endorsed their arguments on behalf of Deerfield, Ill.-based Walgreen Co. last month. ...

School sales downturn worries retail analysts.
August 1, 2008... Byline: Kendall Anderson Those pink Hannah Montana jeans might sparkle - but this year's back-to-school bottom line probably won't. As retail's school-shopping season gets under way, analysts are predicting a big drop in sales. And...

Lawmakers aim to boost trust land revenue for MN schools.
August 1, 2008... Byline: Charley Shaw Lawmakers want to know how the state can get more revenue from the 2.5 million acres of land set aside 150 years ago to support schools across Minnesota. After establishing greater oversight of the so-called school...

Associated General Contractors of Minnesota: I-35W Bridge: It could happen again.
August 1, 2008... Byline: Brian Johnson Failure to adequately invest in the nation's roads and bridges could result in another catastrophe like the I-35W bridge collapse a year ago today, according to state and national transportation experts who gathered...

iPhone users see the light with new Minnesota-made application.
August 2, 2008... Byline: Arundhati Parmar The iPhone is becoming enlightened. Literally. Software developers at Minnesota’s DoApp Inc. have developed a mobile application that transforms the much-coveted cell phone into a flashlight/strobe light....

Stop the presses - Minneapolis-based Campbell Mithun's Hoffman not moving.
August 2, 2008... Byline: Bob Geiger Here's an unusual way to express satisfaction with your current job - tell a newspaper columnist how interested you are in a similar post at a different firm. Yet, that's exactly what Jonathan Hoffman, president and...

Twin Cities commercial properties feeling sting of slump.
August 2, 2008... Byline: Burl Gilyard Things are tough all over. That's the message in the numbers from the just-released NorthMarq Compass Report (formerly the United Properties Outlook Report), which shows sluggish activity for every sector of the...

Twin Cities foreclosure surge heightens concern.
August 2, 2008... Byline: Bob Geiger A wave of foreclosures is washing over the Twin Cities' residential real estate market, triggering heightened concern among both Hennepin County and City of Minneapolis officials. In recent days, for example: *...

Inflation hammers highway projects in Minnesota.
August 5, 2008... Byline: Brian Johnson Rising prices for everything from asphalt to steel are hammering transportation departments throughout the country, adding yet another challenge to the already daunting task of keeping up with a backlog of road and...

Minneapolis, Hennepin County raze first foreclosed 'nuisance' house.
August 5, 2008... Byline: Bob Geiger First thing Monday, a backhoe made short work of a fire-damaged, foreclosed house at 2914 Dupont Ave. N. The scene was significant because it marked the first demolition of a nuisance house by a joint...

Minnesota-based Rochester Medical profit dips.(Financial report)
August 5, 2008... Byline: Finance and Commerce Staff Rochester Medical saw a slight dip in its fiscal third-quarter sales, the Stewartville, Minn., company announced Monday. In the quarter ended June 30, Rochester Medical had sales of $8.24 million, down...

Minneapolis-based software firm IDeaS acquired by SAS.
August 5, 2008... Byline: Finance and Commerce Staff Minneapolis-based software firm IDeaS Revenue Optimization has been acquired by Cary, N.C.-based SAS. IDeaS makes revenue-management software for the hospitality industry. The company's clients include...

Bloomington-based Bor-Son adds industry veteran to executive team.
August 5, 2008... Byline: Finance and Commerce Staff Chris Stewart has joined Bor-Son Construction as vice president of operations. Stewart will manage Bor-Son's general construction operations, including job costing, scheduling, job-site safety and...

Minneapolis-based HGA Architects bolsters its staff.
August 5, 2008... Byline: Finance and Commerce Staff HGA Architects has hired 25 new employees. The new employees -- including specialists in architecture, engineering, landscape architecture, planning and interior design -- were brought on to meet...

Stillwater Lift Bridge reopens.
August 5, 2008... Byline: Finance and Commerce Staff Crews have completed repairs to the Stillwater Lift Bridge. The bridge, which reopened to traffic Saturday morning, was struck July 7 by a westbound delivery truck. Specifically, the truck struck...

Minnesota's 'move over' law expanded to road repair vehicles.
August 5, 2008... Byline: Finance and Commerce Staff Highway workers must be more accommodating to emergency vehicles under an amended state law. The law, which requires drivers on multi-lane highways to move one lane away from emergency vehicles, was...

Ulteig Engineers expands its Minneapolis Energy Division.
August 5, 2008... Byline: Finance and Commerce Staff Ulteig Engineers has added five employees to its Minneapolis Energy Division. The new employees are Shobhit Vaish (graduate engineer), Girma Moges (electrical planning engineer), Patrick Deibel...

What's wrong with St. Paul?
August 5, 2008... Byline: Burl Gilyard Monday, July 21, was a bright, blue-sky morning in downtown St. Paul. The view from the top floor of the Crowne Plaza hotel overlooking the Mississippi River was fabulous. The bird's eye perch was the perfect venue for...

St. Paul's Commerce Building reopens as low-income rental project.
August 5, 2008... Byline: Kendall Anderson At least one of downtown St. Paul's many underutilized historic buildings is attracting tenants seeking affordable style -- and investors wanting tax credits. The Commerce Building at Wabasha and East Fourth...

Lunds coming to downtown Minneapolis.
August 6, 2008... Byline: Mark Anderson Downtown Minneapolis is finally going to get its grocery store. Lund Food Holdings, Inc. announced Tuesday that it will open a full-service Lunds market in a new development on the north side of Hennepin Avenue,...

Survey: Profitability now biggest worry for CFOs.
August 6, 2008... Byline: Mark Anderson What's on the mind of most local chief financial officers this year? Beefing up their company's profits, of course. That's an evergreen concern for every executive. But in the wake of Enron and other...

Study: Minnesota needs better ways to monitor transportation.
August 6, 2008... Byline: Brian Johnson A trio of pro-transit groups wants Minnesota to take a broader look at how the state's network of roads, bridges and transit is performing. The groups - Transit for Livable Communities, the Minnesota Center for...

Chisago City seeks park to boost local economy.
August 6, 2008... Byline: Charley Shaw Jeanne Miller first learned to ride horses and sail at Camp Ojiketa near Chisago City in the late 1950s and early 1960s. The horses were a huge thing. We had swimming lessons in the morning and free swim in the...

Panel to discuss workforce demands in Minn. in CRE.
August 7, 2008... Byline: Finance and Commerce Staff MNCAR will host an Aug. 8 panel discussion on Minnesota's changing workforce and the consequences that shift creates for real estate professionals. Panelists include Minnesota State Demographer Tom...

Minneapolis hires NorthMarq to sell 4 schools.
August 7, 2008... Byline: Finance and Commerce Staff Minneapolis Public Schools has hired Bloomington-based NorthMarq to list four school buildings for sale. NorthMarq brokers Paul Donovan, Pete Rand and Kevin Peck will accept bids through Sept. 3 for...

Preservationists to host gala at the Foshay in Minneapolis.
August 7, 2008... Byline: Finance and Commerce Staff The Preservation Alliance of Minnesota will host its second annual sneak peek fundraiser on Friday, Aug. 22 at the newly reopened Foshay Tower. The Foshay Soiree: A Roaring '20s Restoration, will...

Edina-based Welsh brokers retail, industrial, office sales.
August 7, 2008... Byline: Finance and Commerce Staff Edina-based Welsh Cos. announced closings this week on several recent investment sales. Senior vice presidents Bob Pounds and Tim Prinsen represented Developers Diversified Realty of Beachwood, Ohio...

Jaeger joins office of Minneapolis-St. Paul Colliers brokerage.
August 7, 2008... Byline: Finance and Commerce Staff Norma E. Jaeger has joined the Minneapolis-St. Paul office of Colliers Turley Martin Tucker as a second vice president in its Office Sales & Leasing division. Jaeger has more than 25 years of...

Twin Cities-based Ekola wins engineering industry recognition.
August 7, 2008... Byline: Finance and Commerce Staff Consulting-Specifying Engineer magazine named Tracy Ekola as a recipient of its 40 Under 40 Award in July. Ekola works for Twin Cities-based professional consulting services firm Short Elliott...

Spande will boost senior housing at Minneapolis-based Kraus-Anderson.
August 7, 2008... Byline: Finance and Commerce staff Loren Spande has joined the business development team in the Minneapolis headquarters of Kraus-Anderson Construction Co. Spande who was chief executive of Eagan-based custom home and office builder...

Milliken withdraws Hennepin proposal.
August 7, 2008... Byline: Burl Gilyard Developer Don Milliken controls a large, well-situated downtown development site, but at the moment, he has no proposal with the city of Minneapolis to build anything on the vacant city block. Without fanfare,...

Aging Four Seasons Mall, on strategic Plymouth site, available for $12.5M.
August 7, 2008... Byline: Burl Gilyard It's only 30 years old, but Plymouth's Four Seasons Mall is clearly showing signs of old age. The drab strip center is nearly half empty and regarded by neighbors as an eyesore. But the property's owners and city...

Japan might cut approval time for U.S.-made medical devices.
August 7, 2008... Byline: Arundhati Parmar Japan, one of the major markets for U.S. medical-device companies, may soon speed up lengthy approval processes that typically delay the introduction of new products in that country. Japanese regulatory...

Minnesota Revenue Department's criminal caseload doubles.
August 7, 2008... Byline: Bob Geiger Here's another sign of economic trouble in Minnesota: The number of criminal cases handled by the Minnesota Revenue Department has more than doubled since 2004. That year, the department handled 315 criminal cases....

Minneapolis-based GridPath Fund investing up to $10M in wind power.
August 8, 2008... Byline: Bob Geiger Supporters of renewable energy will soon be able to put their money where their mouth is: Minneapolis-based Midwest Wind Finance (MWF) is launching the GridPath Fund, which will raise money to build community wind-power...

Rock-Tenn may use digester technology in rural Minnesota.
August 8, 2008... Byline: Frank Jossi The St. Paul Port Authority this week endorsed two proposals to build an anaerobic digester in rural Minnesota, thereby helping to offset an increase in energy costs suffered by one of the city's largest industrial...

Minn.-based Target, Wisc.-based Kohl's sales decline as school shopping weakens.
August 8, 2008... Byline: Kendall Anderson Predictions for a sour back-to-school shopping season are becoming reality -- but the downturn may be less bitter for retailers emphasizing value. Target Corp. said Thursday that its July same-store sales fell...

Minnesota Bank & Trust ramps up its staffing.
August 8, 2008... Byline: Finance and Commerce Staff Minnesota Bank & Trust, which opened this April at Centennial Lakes Park in Edina announced several new banking and staff hires last week. Diane Blair has joined the staff as a personal banker. She...

Kathryn Sullivan, Jeff Lucht take United Healthcare regional posts.
August 8, 2008... Byline: Finance and Commerce Staff UnitedHealthcare has named Kathryn Sullivan and Jeff Lucht to lead its central region. Sullivan will be the region's chief executive, bringing 25 years of experience in health care and insurance...

Ralph Bernstein joinsMinneapolis-based U.S. Bank's health care solutions unit.
August 8, 2008... Byline: Finance and Commerce Staff U.S. Bank has named Ralph Bernstein senior vice president of health care solutions, a position that manages savings and payment products and services for consumers, health care providers and health...

Bloomington-based First Commercial Bank promotes Brian Wagner to SVP.
August 8, 2008... Byline: Finance and Commerce staff First Commercial Bank has promoted Brian Wagner to the position of senior vice president for Business Development. Wagner joined First Commercial in December 2003 after earning his bachelor's degree...

Eden Prairie-based Celleration raises $30 million.
August 8, 2008... Byline: Finance and Commerce Staff Eden Prairie-based Celleration, Inc. announced on Thursday the completion of its Series D Financing round, raising $30 million to accelerate marketing for its patented MIST Therapy System. MIST is an...

Minneapolis-based Dolan Media revenues up.(Financial report)
August 8, 2008... Byline: Mark Anderson Minneapolis-based Dolan Media Co. on Thursday reported second-quarter net income of $4.4 million on total revenues of $41.6 million, a 12.1 percent increase over the year earlier. During the second quarter, we...

New restaurant in Maple Grove aims to curry favor.
August 8, 2008... Byline: Finance and Commerce Staff A new Indian restaurant has opened in Maple Grove. CurryUp, located at 13601 Grove Dr., offers fast, casual, fresh and authentic Indian food for sit-down and take-out. It serves dishes from...

Minnesota's banana peels, orange rinds -- an untapped energy source?
August 8, 2008... Byline: Frank Jossi A new state law allowing recyclers to conduct curbside pickup of organic materials could make Minneapolis the nation's first city to use kitchen waste and compost materials as a source of energy. Linden Hills Power...

Flatiron Construction may cover medical expenses for assault victim in Minnesota.
August 9, 2008... Byline: Brian Johnson Flatiron Construction Corp., the lead contractor on the Interstate 35W bridge project, is discussing the possibility of paying medical expenses for an uninsured man who was severely beaten Tuesday, allegedly at the...

Minnesota judiciary already struggling to manage financial shortfall.
August 9, 2008... Byline: Betsy Sundquist Here's the thing about budget shortfalls and the budget cuts that result from them: Eventually, they become more than numbers. Often, they turn into lost jobs. And sometimes, permanently closed courthouses, as...

Minnesota not alone with serious budget problems.
August 9, 2008... Byline: Betsy Sundquist While there's no denying that Minnesota is going to find itself neck-deep in a crisis when legislators start hammering out a 2010-11 budget, sometimes it helps to know that others are in the same boat. Early...

Central Corridor light rail could eliminate 1,000 parking spots in Twin Cities.
August 9, 2008... Byline: Kendall Anderson While many herald the planned Central Corridor light rail train's overarching goal of transportation efficiency, critics worry that the project could wind up swallowing so many parking spots that the result will be...

Experts: Minnesota financial crisis looms.
August 11, 2008... Byline: Charley Shaw and Betsy Sundquist Remember all those happy faces at the end of May, when Minnesota's DFL-controlled Legislature and Republican Gov. Tim Pawlenty finally reached a budget agreement? Remember the news conference at...

I-35W Bridge survivors' fund ready to take claims.
August 12, 2008... Byline: Barbara L. Jones When the claims of the Interstate 35W bridge collapse survivors are all submitted to a panel of three special masters, everyone involved will be participating in a historic new process. The panel members --...

Entrepreneur 'Mac' Lewis launches new tech-services venture.
August 12, 2008... Byline: Arundhati Parmar Serial entrepreneur C. McKenzie Lewis III, better known to friends and associates as “Mac,” is at it again. A board member of the Minnesota High Technology Association, a private pilot who recently...

Restored grandeur at Hotel Minneapolis.
August 12, 2008... Byline: Mark Anderson It hasn't been a good year for banks, unless they're 100 years old and starting a new life as a high-end hotel. Last Friday's opening of the Hotel Minneapolis marks the second conversion of a downtown Minneapolis...

Savage-based Fabcon hires CFO.
August 12, 2008... Byline: Finance and Commerce Staff Fabcon, a Savage-based manufacturer of structural fabricated concrete wall panels, has hired Craig Wassenaar as chief financial officer. Wassenaar has held finance and accounting positions in several...

Schneider joins Short Elliott Hendrickson's St. Paul office.
August 12, 2008... Byline: Finance and Commerce Staff Short Elliott Hendrickson has added Michelle Schneider to its water resources group at its St. Paul office. Schneider, a professional engineer, specializes in hydraulic modeling of river flow and...

Richfield-based Best Buy opens airport kiosks.
August 12, 2008... Byline: Finance and Commerce Staff Best Buy's latest product rollout will be available next to the candy machine in select airports next month. The vending kiosks selling cell phone and computer accessories will appear by Sept. 1 in...

Twin Cities' residential real estate sales up 6.2 percent.(Financial report)
August 13, 2008... Byline: Burl Gilyard There's finally some good news on the residential real estate market: July's pending home sales are up 6.2 percent from the same month a year earlier - the first time in two and a half years that housing statistics...

LEED rival looks to expand in Minnesota.
August 13, 2008... Byline: Brian Johnson The city of Apple Valley wants to show the world that its latest building projects are as ecologically friendly as little green apples, but it doesn't want to spend a lot of money in doing so. So instead of...

Foshay Tower in Minneapolis reborn.
August 13, 2008... Byline: Mark Anderson Like many a first-time parent, Allesandro Munge has learned two essential truths about giving birth: that it can be a painful, grueling experience, and that in the end, it's worth the trouble. Munge is an interior...

Hennepin 2012 brings more art to the street.
August 14, 2008... Byline: Finance & Commerce Staff Downtown Hennepin Avenue property owners have joined Minneapolis city officials in an effort to improve the street's appearance and create a pedestrian-friendly home for the Hennepin Theatre District and...

Three Colliers firms consolidate, fourth follows.
August 14, 2008... Byline: Finance & Commerce Staff Colliers Turley Martin Tucker, Colliers Pinkard and Cassidy & Pinkard Colliers announced on Tuesday that the three companies are consolidating their ownership into one holding company. Following...

Minneapolis hires NorthMarq to sell 4 schools.
August 14, 2008... Byline: Finance & Commerce Staff The Minneapolis Public Schools have hired Bloomington-based NorthMarq to list four school buildings for sale. NorthMarq brokers Paul Donovan, Pete Rand and Kevin Peck will accept bids through Sept. 8 for...

First Industrial launches Lakeville project.
August 14, 2008... Byline: Finance & Commerce Staff First Industrial Realty Trust, Inc., announced Tuesday that it will develop a new 285,000 square-foot distribution center in Lakeville for Uponor North America, a leading supplier of PEX-a plumbing, fire...

Marcus & Millichap sells Rogers retail for $2.5M.
August 14, 2008... Byline: Finance & Commerce Staff Marcus & Millichap, the nation's largest real estate investment services firm, has arranged the sale of 13,800 square feet of retail space in Rogers. The $2.5 million sale represents a price of $181.16 per...

Police eliminating potential projectiles in St. Paul for RNC.
August 14, 2008... Byline: Betsy Sundquist They're taking down the flowerpots in downtown St. Paul. They're also securing the trash cans and nailing down the manhole covers. With little more than two weeks to go before the Republican National...

Apartment rentals in Minneapolis a bright spot in real estate market.
August 14, 2008... Byline: Burl Gilyard Downtown St. Paul is typically seen as a tough real estate market. But the latest local numbers show that this isn't true for the area's apartment owners. In fact, it's actually harder to find a vacant apartment in...

Minnesota State Fair is profitable but faces increased costs.
August 14, 2008... Byline: Kendall Anderson Indiana has its deep-fried chocolate-covered strawberries and Texas its signature corn dogs, but Minnesota outpaces both as far as state fairs go. And that's because of its bottom line and daily attendance, as...

Inflation nears 4 percent for Minnesota consumers.
August 15, 2008... Byline: Burl Gilyard Most Minnesotans have noticed that prices for things like gasoline and medical care are climbing. On Thursday, the government offered official confirmation that rising prices have caused most consumers to have less...

Risk-management program set in New Brighton.
August 15, 2008... Byline: Finance and Commerce Staff The identification, reduction and management of risk are growing in importance every year, especially in the fields of drugs, devices, foods and dietary supplements. The Minnesota LifeScience Alley is...

Minnesota governor wants you to share your opinions on state tax policy.
August 15, 2008... Byline: Finance and Commerce Staff The governor wants your help in changing Minnesota's tax code, and the commission he established has set up a way to collect more ideas and opinions from Minnesota business and development professionals....

Savage-based Fabcon names Craig Wassenaar CFO.
August 15, 2008... Byline: Finance and Commerce Staff Fabcon has appointed Craig Wassenaar to be its new chief financial officer. Wassenaar comes to the company with extensive experience in accounting and finance in several industries including...

M&I Exchange Services taps Patrick T. Harrigan for Minneapolis post.
August 15, 2008... Byline: Finance and Commerce Staff M&I Exchange Services has hired Patrick T. Harrigan as senior vice president and leader of its Minneapolis market activities. M&I Exchange acts as an intermediary for tax deferred exchanges of...

Michael Schellin, of Minneapolis, receives Young Architects Award.
August 15, 2008... Byline: Finance and Commerce staff Michael Schellin, an associate with Minneapolis-based Kodet Architectural Group has been named a 2008 Young Architects Award from the American Institute of Architects Minnesota. The award recognizes...

Minnesota Attorney General sues mortgage firm for predatory practices.
August 15, 2008... Byline: Betsy Sundquist Minnesota Attorney General Lori Swanson on Thursday filed suit against a Plymouth-based mortgage broker, accusing the company of predatory lending practices and using bait-and-switch tactics to sell mortgage loans...

Tammy Lyons joins LarsonAllen as Minnepolis director of valuation.
August 15, 2008... Byline: Finance and Commerce Staff LarsonAllen has hired Tammy Lyons as Minneapolis director of its valuation and forensic services, where she will advise clients on insurance claim loss analysis. Lyons has more than 14 years of...

In Twin Cities, 1 in 4 home sales 'lender-mediated'.
August 15, 2008... Byline: Burl Gilyard Foreclosures, short sales and real estate auctions have become so common that in some parts of Minneapolis and St. Paul, more homes are being sold through such lender-mediated deals than by traditional methods. ...

Cargill, McKnight-supported foundation focuses on Minnesota's early education.
August 15, 2008... Byline: Kendall Anderson About 25,000 MBAs leave Minnesota's workforce each year, while far fewer enter it. At the same time, half of Minnesota kindergartners can't keep up in class, and at least 20 percent never do. Statistics say they...

Duane Benson, Minnesota's MVP.
August 15, 2008... Byline: Kendall Anderson Many a colleague of Duane Benson has been surprised to learn -- months or even years after meeting him -- that the Lanesboro resident spent a decade playing in the National Football League, 10 times earning the...

Minnesota pension system changes as public employees work after retirement.
August 16, 2008... Byline: Charley Shaw The high cost of health care and other expenses are prompting many of Minnesota's public employees to continue working even after they retire. And that trend is prompting a legislative panel to change the way lawmakers...

Nanotech debate emerges in Minnesota.
August 16, 2008... Byline: Arundhati Parmar A Minnesota nanotechnology trade association is depending on what it hopes will be a favorable economic impact report to convince the Legislature to approve public investment dollars next year. The group, MN...

Republican National Convention in Twin Cities venues officially underbooked.
August 16, 2008... Byline: Betsy Sundquist Some of the Republican National Convention's official venues for events during the RNC are chafing over the fact that they are not completely booked during convention week - dates that two local RNC committees...

Minnesota Supreme Court limits scrutiny of shareholder settlements.
August 16, 2008... Byline: Mark A. Cohen The state Supreme court has ruled that judges have very limited authority in reviewing a special litigation committee's business decision to settle a shareholder derivative lawsuit. If it's shown that the members...