Finance and Commerce Daily Newspaper, MN articles from February 2008

Finance and Commerce Daily Newspaper, MN archives from February 2008

Good time to borrow - for a few.
February 1, 2008... Byline: Mark Anderson It's a tale of two borrowers in the commercial real estate business heading into early 2008. "It's really a pretty good time to be a borrower if you've got a project with a good sponsor and a good property," said...

Cleanup dollars clear way for development in Anoka.
February 1, 2008... Byline: Mark Anderson The old IMI Cornelius plant in Anoka -- a 432,000 square-foot behemoth, once home to more than 900 manufacturing jobs -- has provided the city some celebrity over the last six years. No, it wasn't the site of...

Common Ground.
February 2, 2008... Byline: Charley Shaw Skyline Tower in St. Paul and the Shingle Creek development in north Minneapolis both provide affordable housing for low-income Minnesotans. But only Skyline, which was built in 1971 and overlooks I-94, qualifies for a...

St. Jude expansion in Little Canada on track for '09.
February 2, 2008... Byline: Brian Johnson St. Jude Medical appears to have found just the right cure for its corporate space needs. A newly launched expansion will give the medical device manufacturer 180,000 square feet of new office, manufacturing and...

Minneapolis-based Star Tribune may move as land, building put up for sale.
February 2, 2008... Byline: Burl Gilyard The Minneapolis-based Star Tribune put its downtown real estate up for sale this week, including 425 Portland Ave., the newspaper's headquarters. Star Tribune publisher and chairman Chris Harte announced the move to...

High stakes for Minneapolis-to-Duluth high-speed rail.
February 5, 2008... Byline: Brian Johnson A proposed Minneapolis-to-Duluth high-speed passenger train holds the promise of billions in related development, but doubters say the project would cost more and deliver less than advertised. If all goes according to...

Mille Lacs Band keeping eye on Minneapolis-to-Duluth high-speed rail project.
February 5, 2008... Byline: Brian Johnson The Mille Lacs Band of Ojibwe is taking a strong interest in the proposed $400 million project that would provide high-speed rail service from Minneapolis to Duluth. The band owns and operates a casino in Hinckley,...

Minnesota to build hydroelectric power lines.
February 5, 2008... Byline: Brian Johnson Minnesota Power has agreed to purchase hydroelectric power from Canadian energy company Manitoba Hydro in a sale that will require the construction of hydroelectric facilities in northern Manitoba and new transmission...

Two KKE designers become licensed architects.
February 5, 2008... Byline: F&C Staff Report KKE Architects designers Craig John and Nathan Burt have become licensed architects after passing all nine divisions of the Architect Registration Examination. John earned a degree in architecture from the...

St. Paul-based American Engineering Testing promotes Hoefer.
February 5, 2008... Byline: F&C Staff Report St. Paul-based American Engineering Testing, Inc., has named Ben Hoefer as a member of the engineering consulting firm's geotechnical division. Hoefer is currently working for AET on the Trunk Highway 212 project...

Minneapolis-based DLR Group recognized for justice, education projects.
February 5, 2008... Byline: F&C Staff Report DLR Group topped a recent list of the world's best design practices for justice and education projects. The list, published by United Kingdom-based BD World Architecture, is based on annual income for specific...

Hart to oversee Minneapolis-based Kraus-Anderson 's Circle Pines office.
February 5, 2008... Byline: F&C Staff Report Terry Hart has been named director of operations at Kraus-Anderson Construction Company's Circle Pines office, and will oversee day-to-day operations at the growing north metro location. Hart returns to...

Minneapolis-based Bowman and Brooke HQ earns LEED certification.
February 5, 2008... Byline: F&C Staff Report Minneapolis-based law firm Bowman and Brooke's headquarters has received Leadership in Energy and Environmental Design (LEED) Certification for Commercial Interiors from the U.S. Green Building Council. It is the...

Minnesota Construction Association awards given.
February 5, 2008... Byline: F&C Staff Report Bonestroo and Greystone Construction Co. were among the big winners at the Minnesota Construction Association's 2008 Awards of Excellence program. Bonestroo won an award for its headquarters building in Roseville...

McGraw-Hill economist to offer construction forecast for Minnesota.
February 5, 2008... Byline: F&C Staff Report McGraw-Hill Construction economist Cliff Brewis will look at the future of Minnesota's construction economy at an upcoming event. The event, presented by the Associated General Contractors of Minnesota and...

DeAngelo begins '08 term as head of American Institute of Architects Minnesota.
February 5, 2008... Byline: F&C Staff Report Thomas J. DeAngelo began a second term as president of the American Institute of Architects Minnesota last week. DeAngelo is a principal at Architectural Alliance, where he has worked for the past 30 years. His...

Accountant shortage gets acute.
February 6, 2008... Byline: Mark Anderson Have a little pity on your company's accounting department - or at least their managers. A report released at the end of January confirmed that local companies are suffering the same shortage of accounting and...

Old may be new again in downtown Minneapolis.
February 6, 2008... Byline: Burl Gilyard Minneapolis-based Master Development has carved out a niche for urban redevelopment, tackling overlooked properties and infusing them with new life. Now in downtown Minneapolis, the firm has found one of the oldest...

Relief funds for Minnesota flood victims are half way home.
February 6, 2008... Byline: Bob Geiger More than $77 million in state relief funds has now flowed into seven flood-devastated counties in southeast Minnesota, but $80 million in emergency relief approved by state lawmakers in has yet to arrive. Gov. Tim...

Normandale tower wins state's first LEED rating.
February 6, 2008... Byline: Finance and Commerce Staff The 8200 Tower, the newest addition to Bloomington's Normandale Lake Office Park, will be its greenest building to date. The 11-story, 275,000 square-foot office building obtained a gold-level LEED...

Minneapolis-based Aeon recognized for efforts to help homeless.
February 6, 2008... Byline: Finance and Commerce Staff Minneapolis-based Aeon won national recognition and a $10,000 grant last month from the Fannie Mae Foundation and the Partnership to End Long Term Homelessness in support of its efforts to end homelessness...

CB Richard Ellis lists 197-acre Otsego site.
February 6, 2008... Byline: Finance and Commerce Staff Quest Development has retained CB Richard Ellis to sell a 196.99-acre industrial site near Otsego. The property is zoned now for agriculture use but with guidance for industrial use. The property,...

Kennedy joins Maple Grove-based Pfeffer Co., Inc.
February 6, 2008... Byline: Finance and Commerce Staff James C. Kennedy has joined Maple Grove-based Pfeffer Co., Inc. as a sales associate and member of its brokerage and development team. Pfeffer President Charles C. Pfeffer, Jr. said Kennedy's...

Dallas-area-based Staubach featured in business best-seller.
February 6, 2008... Byline: Finance and Commerce Staff The Staubach Company was among a handful of fast-growing companies that author Keith McFarland chose to examine in his bestselling new business book, The Breakthrough Company. McFarland, a...

Minneapolis-St. Paul office of Colliers to lease, manage Landmark Towers.
February 6, 2008... Byline: F&C Staff The Minneapolis-St. Paul office of Colliers Turley Martin Tucker has won the assignment to lease and manage St. Paul's Landmark Towers at 345 St. Peter St. DBSI Cos., a Meridian, Idaho investment and management group,...

Uptown in Minneapolis completes strategic plan.
February 6, 2008... Byline: F&C Staff Minneapolis city officials OK'd a set of new development guidelines for the Uptown area and south Hennepin Avenue on Feb. 1. The plan grew from a public process that stretched over much of 2007 and produced a set of...

Street of dreams in south Minneapolis.
February 6, 2008... Byline: Dan Emerson Back in 1999 when the Mercado Central opened on the corner of Lake and Bloomington, it was considered a bold move. Although East Lake Street was once a thriving commercial artery, the south Minneapolis conduit had...

Mall walls tumbling down.
February 6, 2008... Byline: Frank Jossi Just off I94 near the Woodbury Drive exit stands the newest concept in American retailing. Named Woodbury Lakes -- despite no sign of water nearby -- the Main Street-style shopping center offers a series of...

On the market: A big chill for U.S. economy.
February 6, 2008... Byline: Michael Krieger As the U.S. economy slows, retailers across the board have experienced lackluster performance, according to a recent report from United Properties. The drop in consumer spending last year has been largely...

Bloomington-based United Properties makes Marq.
February 6, 2008... Byline: Burl Gilyard Bloomington-based United Properties, one of the largest local commercial real estate firms, announced a major restructuring Tuesday morning. The company's brokerage, property management, construction and corporate...

Hormel Institute at University of Minnesota gets supercomputer to battle cancer.
February 6, 2008... Byline: Bob Geiger The Hormel Institute, a medical research unit of the University of Minnesota, today will announce the acquisition of an IBM Blue Gene supercomputer to help triple the number of cancer research projects handled at the...

Rushing to wind farms in Minnesota.
February 6, 2008... Byline: Bob Geiger As part of a "land rush" to develop wind farms, Minneapolis-based National Wind, LLC, plans to build a multi-phase 750-megawatt wind farm in northeastern South Dakota. The five-year-old company, whose offices are located...

Feds come through with promised funding in Minnesota for Northstar.
February 6, 2008... Byline: Brian Johnson President Bush's plan for transit construction in fiscal year 2009 includes $71.17 million funding for the Northstar commuter rail project, a commitment that would complete the promised federal contribution toward the...

Calhoun Square in Minneapolis inches closer to redevelopment.
February 6, 2008... Byline: Burl Gilyard A construction crew began demolishing the former Music-Go-Round building at 1301 W. Lake St. on Wednesday morning. It's the first visible step towards the long-awaited redevelopment of Calhoun Square for new owners...

Minnesota Lobbyist Guide: DFLers hungry for leftovers.
February 7, 2008... Byline: Charley Shaw State lawmakers might experience deja vu at the start of this year's legislative session. Due to Republican Gov. Tim Pawlenty's use of the veto pen in 2007, DFLers have a refrigerator full of leftover bills to warm...

Minnesota Session Preview: Time hasn't healed cuts to LGA.
February 7, 2008... Byline: Charley Shaw Local government interests will return to the state Capitol in 2008 to make another appeal to lawmakers for the restoration of state aid. Aid programs were cut in 2003 to help solve the state's historic $4.5...

Commentary: Session Preview: Here's hoping for a happy '08.
February 7, 2008... Byline: Jack M. Geller It would be too easy to predict another contentious, partisan legislative session in 2008 -- just look at the 2007 session for guidance. Last year we saw a sweeping change of power, disagreement from the start...

Mortenson Construction lifer named Golden Valley-based company's new CEO.
February 8, 2008... Byline: Brian Johnson When Tom Gunkel graduated from college in 1983, it didn't take him long to land a job. With a construction management degree in hand, Gunkel joined Mortenson Construction right out of school. Twenty-five years and...

Macy's to layoff 950 Minneapolis employees; fate of downtown office space unknown.
February 8, 2008... Byline: Burl Gilyard Among the many questions following the announcement that Macy's Inc. will restructure and layoff 950 Minneapolis employees is what will become of their six floors of downtown office space. All the 950 employees of...

Elk River-based Cymbet Corporation introduces solid state battery to market.
February 8, 2008... Byline: Adam Johnson Cymbet Corporation is apparently the first company to introduce to the market an antidote to one of the world's most environmentally hazardous household objects: the chemical battery. The Elk River firm, a designer...

Minnesota city pining for growth.
February 8, 2008... Byline: Brian Johnson Pine Island may not stand out as a center of industry and commerce, but the growing southeast Minnesota town has big plans for growth. The city, which overlooks Highway 52 about 14 miles north of Rochester, is...

Two Super Bowl ads created by Minnesota ad agencies.
February 9, 2008... Byline: Bob Geiger Call it a tale of two Super Bowl ads: one for the Minnesota Twins, and the other for manufacturer Garmin International Inc.'s in-car nuvi GPS system. Seeking to get fans excited about the 2008 baseball season after...

Bloomington-based HealthPartners boasts record growth.
February 9, 2008... Byline: Adam Johnson HealthPartners added more than 60,000 new medical members and nearly 20,000 new dental members in 2007, due in large part to smaller companies with 250 employees or fewer. That basically accounts for half of all...

Adding light rail transit: Foundations back Twin Cities' Central Corridor.
February 9, 2008... Byline: Mark Anderson The University Avenue corridor will never be the same after the construction of light rail transit - but will that be good or bad for its current neighbors? Seven foundations have recently made official what...

Legislative auditor slams JOBZ.
February 9, 2008... Byline: Charley Shaw A Legislative Auditor’s report released Friday slammed Gov. Tim Pawlenty’s signature rural economic development program for being inefficient, under-monitored and over-hyped. The audit-report said the...

U of Minnesota study: Biofuel production worsens global warming.(Report)
February 9, 2008... Byline: Adam Johnson Converting native ecosystems into farmland for biofuel crops could actually accelerate global warming, according to a new study by researchers at the University of Minnesota and the local branch of preservation group...

Minnesota Twins tossing in $22.4M more for new ballpark.
February 12, 2008... Byline: Bob Geiger Rising infrastructure costs for the Minnesota Twins stadium project have forced the team to pay an additional $22.4 million in ballpark enhancements for the stadium, which is scheduled to open in 2010. Twins...

Horror of 35W collapse in Minneapolis hard to imagine.
February 12, 2008... Byline: Brian Johnson In the aftermath of the 35W bridge collapse, disturbing images dominated the newspapers and airwaves: twisted steel, broken concrete decks, submerged vehicles, a burning school bus, terrified school children, and...

Minnesota's new worker e-rules rile some contractors.
February 12, 2008... Byline: Brian Johnson As of Jan. 29, contractors with state contracts of $50,000 or more have to use a Department of Homeland Security system to verify their new hires are eligible to work in the U.S. Known as E-Verify, the web-based...

The huge cost of work-site accidents in Minnesota.
February 12, 2008... Byline: Brian Johnson The cost of workplace injuries and accidents in Minnesota is staggering. In 2006 alone, workers compensation costs totaled about $1.66 billion in the state. Those figures don't include costs associated with...

Minnesota Twins ballpark: Building around 52 million points of data.
February 12, 2008... Byline: Brian Johnson WSB & Associates' contribution to the Twins stadium project is sort of like a 95-mile-per-hour Joe Nathan fastball that paints the inside corner of the plate. It's all about speed and precision. With help...

Como Zoo in Minnesota prepares for $14.3 million polar bear project.
February 12, 2008... Byline: Finance and Commerce Staff Report Como Zoo's polar bears will soon head to the Motor City as the zoo prepares to begin construction of its $14.3 million Polar Bear Odyssey project. Zoo officials announced Monday that the bears,...

Howard R. Green hires water resources specialist at its St. Paul office.
February 12, 2008... Byline: Finance and Commerce Staff Report Howard R. Green Company has hired Joel Peterson as a water resources project manager at its St. Paul office. Peterson has more than 10 years of experience working in water resources...

Minneapolis Builders Exchange elects new leadership.
February 12, 2008... Byline: Finance and Commerce Staff Report The Minneapolis Builders Exchange has elected Frank Grazzini as president of the organization. Grazzini heads Minneapolis-based sealant and tuckpointing firm Carciofini Company, and has served...

Rogers-based Veit adds five employees.
February 12, 2008... Byline: Finance and Commerce Staff Report Veit, a Rogers-based specialty contracting and waste management company, announced the addition of five employees to the firm's administration, demolition, foundation and earthwork divisions. ...

Kraus-Anderson promotes two in Minneapolis.
February 12, 2008... Byline: Finance and Commerce Staff Report Kraus-Anderson Construction Company announced the promotion of two executives to senior posts this week. Mark Coudron has been promoted to senior vice president of Kraus-Anderson's Minneapolis...

Minn. Construction Assn. honors Bonestroo and Kraus-Anderson.
February 13, 2008... Byline: Adam Johnson Build it and they will come - awards, that is. Bonestroo and Kraus-Anderson recently won dual awards for overcoming design and construction challenges on Bonestroo's new 75,000-square-foot headquarters in...

'Game on' at Minnesota Capitol.
February 13, 2008... Byline: Charley Shaw By the opening gun of the 2008 legislative session Tuesday, House and Senate DFLers had already angered Republicans by unveiling a tax-heavy transportation funding bill very similar to the one Gov. Tim Pawlenty axed...

State review of public health inadequate in Minnesota.
February 13, 2008... Byline: Charley Shaw State agencies don't apply enough scrutiny to the costs of Minnesota's public health care programs, a state Legislative Auditor report released Monday found. As the costs of public health care programs have...

Distressed properties, new opportunities in Minneapolis.
February 14, 2008... Byline: Mark Anderson The Beard Group has reached a turning point. The 18-year-old real estate development and management company founded by Bill Beard and Paul Gamst is about to assume a new name and a new business profile, and it starts...

Retailing the wind for Minneapolis-St. Paul area homes.
February 14, 2008... Byline: Bob Geiger Baxter-based real estate firm Denali Companies Inc, is partnering with Houston-based Montgomery Energy Partners LP to build the first phase of a $2 billion wind farm in North Dakota. Some of the 1,000 megawatts that...

Frogtown neighborhood in St. Paul meets Vegas.
February 14, 2008... Byline: Burl Gilyard The annual Las Vegas convention of the International Council of Shopping Centers (ICSC) is the largest single schmooze event in commercial real estate, drawing more than 50,000 attendees. In May, representatives...

University of Minnesota and Kandiyohi Co. talking turkey.
February 14, 2008... Byline: Brian Johnson New development at the University of Minnesota's UMORE Park in Rosemount is set to gobble up a university-run poultry research facility, but Rosemount's loss may be Kandiyohi County's gain. University officials...

Midwest Plaza in downtown Minneapolis to get new name.
February 14, 2008... Byline: Burl Gilyard When RSM McGladrey Inc. moved into Midwest Plaza in downtown Minneapolis in 1982, the firm had just 16,000 square feet of space. But the accounting and business consulting firm has been growing at a steady clip...

QLogic project in Minneapolis wins award.
February 14, 2008... Byline: Finance and Commerce Staff The Minnesota Concrete and Masonry Contractors Association recently named the QLogic Corp. office building and its developer, Minneapolis-based Ryan Cos. US, Inc., as winners of their Excellence in...

Minneapolis-St. Paul office of Colliers Turley Martin Tucker names new shareholder, promotions.
February 14, 2008... Byline: Finance and Commerce Staff The Minneapolis-St. Paul office of Colliers Turley Martin Tucker announced last week that it had named Mark Kolsrud, a senior vice president in the firm's institutional investment group, to be a...

Palmquist joins Minneapolis-based CSM Corp. to head retail development.
February 14, 2008... Byline: Finance and Commerce Staff Tom Palmquist has joined Minneapolis-based CSM Corp. as its vice president of retail development. Palmquist recently left the Robert Muir Co., where he was president and oversaw the company's...

Minnesota's chapter of NAIOP names 2007 design award winners.
February 14, 2008... Byline: Finance and Commerce Staff Minnesota's chapter of the National Association of Industrial and Office Properties announced the winners of its annual Awards of Excellence on Jan. 24. The awards recognize developments of new and...

SBA disaster loan applications in northern Minnesota due March 3.
February 14, 2008... Byline: Finance and Commerce Staff Businesses that suffered financial losses because of last May's forest fires in Lake and Cook counties in northern Minnesota have until March 3 to apply for low-interest Economic Injury Disaster Loans...

Survey says Tuesday the most productive work day.
February 14, 2008... Byline: Finance and Commerce Staff Tuesday is the best day to get a job done in most workplaces, according to results of a recent survey conducted for Accountemps, the national accounting and finance staffing agency. And if you can't...

Makeover for Minnesota Building in St. Paul.
February 15, 2008... Byline: Burl Gilyard An old, empty building in downtown St. Paul isn't news. But one of them, the storied Minnesota Building, at 46 E. Fourth St., has been teased with redevelopment plans in recent years that showed promise for a...

Rebuilding a soldier's home in New Prague.
February 15, 2008... Byline: Brian Johnson Jonathan VanderWert had started remodeling his family's New Prague home a year ago, and then last August disaster struck. A nasty summer storm sent a deluge of water through a temporary roof and wreaked havoc on...

Minnesota Marketing Briefs: February 15, 2008.
February 15, 2008... Byline: Bob Geiger Breaking a cold spell in new business activity, Minneapolis ad agency Campbell Mithun has made the cut in the pitch for Madison, Wis.-based shoe store chain Famous Footwear's account. A spokes-man at Campbell Mithun...

Global Traffic Technologies is launching new corporate identity.
February 16, 2008... Byline: Adam Johnson Global Traffic Technologies is putting its foot on the gas. The former 3M division is launching a new corporate identity, six months after Toronto-based private equity firm TorQuest Partners, Inc. purchased 3M's...

White light, green light.
February 16, 2008... Byline: Adam Johnson Global Traffic Technologies is putting its foot on the gas. The former 3M division is launching a new corporate identity, six months after Toronto-based private equity firm TorQuest Partners, Inc. purchased...

Balance, critical.
February 16, 2008... Byline: Todd Messelt Want another way to increase productivity and boost your bottom line? That’s never easy, of course, but more and more, both employees and the companies they work for are turning to programs that aim to help...

Wilsons to slash 1,000 jobs, close 160 stores.
February 16, 2008... Byline: Burl Gilyard The struggling Wilsons The Leather Experts Inc. announced “aggressive cost cutting initiatives” on Friday, including laying off 1,000 employees and closing as many as 160, or 60 percent, of its mall store...

Brooklyn Park-based Wilsons The Leather Experts to slash 1,000 jobs, close 160 stores.
February 16, 2008... Byline: Burl Gilyard The struggling Wilsons The Leather Experts Inc. announced aggressive cost cutting initiatives on Friday, including laying off 1,000 employees and closing as many as 160, or 60 percent, of its mall store locations. ...

Minnesota governor, lawmakers support NWA-Delta merger.
February 19, 2008... Byline: Bob Geiger Gov. Tim Pawlenty and legislative leaders Monday outlined their support for a merger between Northwest Airlines and Atlanta-based Delta Airlines Inc. that would create the world's largest airline. It appears that a...

State of Minnesota $14B behind in highway funding.
February 19, 2008... Byline: Brian Johnson If Minnesota had continued to spend what it was spending on highways in 1986, by the end of 2006 the state would have spent $13.9 billion more than it did. That's $13.9 BILLION, or about $695 million per year more...

Baby-boomer workforce data a cause for concern for Minnesotans.
February 19, 2008... Byline: Mark Anderson Tom Gillaspy summoned his considerable numbers skills last week to tell a story that should send a shiver down the spine of most Minnesotans, especially state lawmakers. Gillaspy, Minnesota's state demographer for...

Union vs. non-union: Project labor agreement debate back on in Minnesota.
February 19, 2008... Byline: Brian Johnson A new bill that would allow state agencies to require bidders on state construction contracts to sign negotiated agreements with labor unions is kicking up controversy, again. During the 2007 session, DFL state...

Associated General Contractors of Minnesota awards 35W bridge workers.
February 19, 2008... Byline: F&C News Brief The Associated General Contractors of Minnesota awarded two individuals in the fields of integrity and lifetime achievement at its annual meeting last month, and presented a special award to workers involved in the...

Minnesota officials to attend open house for Highway 65 project.
February 19, 2008... Byline: F&C News Brief State and local officials will discuss construction on Highway 65 in Blaine on March 10. Presentations, scheduled for 3 p.m. and 6 p.m. at Blaine City Hall, 10801 Town Square Dr. N.E., will focus on plans to...