Finance and Commerce Daily Newspaper, MN articles from May 2009

Finance and Commerce Daily Newspaper, MN archives from May 2009

North Loop neighborhood in Minneapolis votes against proposed concert hall.
May 1, 2009... Byline: Burl Gilyard The North Loop Neighborhood Association has voted against a proposal to turn downtown's large, vacant Theatre de la Jeune Lune building into a concert hall. On Wednesday evening, the board of the neighborhood group...

Twin Cities bank report card: First quarter.
May 1, 2009... Byline: Finance and Commerce staff U.S. Bancorp Assets: $263.6 billion Key figures: The bank's loan portfolio grew 11.1 percent (19.6 percent with acquisitions), driven by record mortgage applications of $25 billion.  Its...

American Planning Association members will see planning on display in New Orleans next year.
May 1, 2009... Byline: Scott Carlson In the years since Hurricane Katrina, New Orleans has often been cited as an example of what happens to cities when there's a lack of adequate planning. But that won't necessarily be the case by this time next...

Multifamily projects boost residential building in Twin Cities.
May 1, 2009... Byline: Brian Johnson Residential construction activity in the Twin Cities area took a step forward in April, at least when that activity is measured by planned housing units. Last month, builders pulled 118 permits for 419 new housing...

Paying for projects: Planning skills are a prerequisite, but paying the bills will require skill.
May 1, 2009... Byline: Mark Anderson In recent decades, planning and development officials have learned countless lessons about how to design a framework for cities that are beautiful, functional, safe and sustainable. Now, the challenge is learning...

Convention in Minneapolis: Public sector, market boost value of green investments.
May 1, 2009... Byline: Mark Anderson Many of the participants at this week's' American Planning Association convention came to the event armed with a sustainability wish-list, covering everything from cleaning up storm water to reducing their city's...

MnDOT meets key stimulus deadline ahead of time.
May 2, 2009... Byline: Brian Johnson The Minnesota Department of Transportation says it's running well ahead of schedule when it comes to requesting bids for federal stimulus projects - and that could mean more money in the department's coffers for...

Minneapolis Hilton Garden Inn opens.
May 2, 2009... Byline: Mark Anderson Downtown Minneapolis' new Hilton Garden Inn held a grand opening garden party Thursday afternoon, offering a formal green-themed welcome from the hotel. Owners and managers of the hotel, which first opened in...

Stages: Minneapolis officials seek 'most viable long-term use' for theater building.
May 2, 2009... Byline: Burl Gilyard At the city-owned Hennepin Stages theater in downtown Minneapolis, the show is most definitely not going on. Banners hanging on the side of the building tout two productions - both of which closed in December....

Shifting Burden: As state aid to Minnesota counties decreased, local taxes went up.
May 2, 2009... Byline: Betsy Sundquist Minnesota's counties have been steadily increasing the tax burden on residents to make up for dwindling state grants, according to a newly released report from the Minnesota state auditor's office. Between 2003...

Planners at national convention in Minneapolis warned to prepare for rising sea, drier seasons.
May 2, 2009... Byline: Bob Geiger Global warming is a reality, and unless planning to mitigate its effects begins immediately, the result could be a disaster of historic proportions. Such was the message heard repeatedly this week, as planners from...

'Ever worsening' fiscal picture described by Minnesota cities.
May 2, 2009... Byline: Betsy Sundquist Minnesota cities are feeling the effects of the ongoing economic crisis as residents lose their jobs and default on utility bills and property taxes, according to a new report by the League of Minnesota Cities. ...

Minneapolis joins sustainability cause with 'Leaf Your Legacy'.
May 2, 2009... Byline: Bob Geiger One Minneapolis effort to achieve sustainability has an appropriately memorable name: Leaf Your Legacy. Daniel Huff, environmental services supervisor for the Minneapolis Department of Regulatory Services, wants city...

Justice in a time of pandemic: Minnesota's court system has plans in place to ensure due process.
May 5, 2009... Byline: Mark A. Cohen Swine flu -- or some other pandemic -- spreads like wildfire throughout Minnesota, plunging the state into a public health crisis. In response, the governor shuts down many public buildings. The commissioner of public...

Jo Anne Zoff has a full plate advising Minnesota senators on taxes.
May 5, 2009... Byline: Charley Shaw State lawmakers are usually a very visible and voluble sort - they speak at length on the floor about their amendments and deliver thundering sound bites at news conferences. But legislators also spend a lot of...

Minnesota's drug, medical-device makers urge caution on 'comparative effectiveness' research.
May 5, 2009... Byline: Dan Haugen When it comes to treating common diseases, physicians have a near-dizzying array of treatment options at their disposal. Take coronary artery disease: A doctor could recommend bypass surgery, or choose from a...

Minneapolis architect designs free online tool to estimate energy efficiency.
May 5, 2009... Byline: Brian Johnson A Minneapolis architect is the brains behind an online tool that could help design teams meet the goals of the 2030 Challenge, a national initiative that calls for reduced energy consumption and greenhouse gas...

Minneapolis-based Dolan Media reports 1Q profit, growth.(Financial report)
May 6, 2009... Byline: Burl Gilyard Minneapolis-based Dolan Media Co. reported a first quarter net profit of $8.6 million on revenue of $63.9 million for the first quarter. The company's revenues jumped 54 percent from the first quarter of 2008. ...

Twin Cities ad firms saw growth in 2008.
May 6, 2009... Byline: Bob Geiger The advertising business in Minneapolis-St. Paul seems to be weathering the recession fine. Combined, the biggest 10 ad agencies in the Twin Cities area registered $607.9 million in 2008, a 7.5 percent revenue...

Eminent domain subject of movie premiered at Minneapolis-St. Paul Film Festival.
May 6, 2009... Byline: Frank Jossi It's called eminent domain, and according to a U.S. Supreme Court decision in 2005, it allows cities and other municipalities to forcibly take private land if doing so will have the result of enhancing the land's value....

Minnetonka-based Opus Group retail project files bankruptcy in Texas.
May 6, 2009... Byline: Burl Gilyard Minnetonka-based real estate titan Opus Group is feeling more pain from its operations around the country. The Phoenix-based Opus West Corp. was one of three partners that developed a large retail project, the Hill...

Anne Sullivan library in Minneapolis to get makeover.
May 6, 2009... Byline: Finance and Commerce Staff Anne Sullivan Elementary School in Minneapolis is getting an improved communications center. The Heart of America Foundation, a Washington, D.C.-based nonprofit organization, selected Anne Sullivan as...

Minneapolis-based Braun Intertec hires Becky McCarty to test pollution.
May 6, 2009... Byline: Finance and Commerce Staff Braun Intertec has hired Becky McCarty to work in the firm's Environmental Consulting Group. McCarty will evaluate properties for evidence of contamination, conduct investigations related to those...

MnDOT schedules Hastings Bridge hearing for May 20.
May 6, 2009... Byline: Finance and Commerce Staff A public hearing on the proposed U.S. Highway 61 Hastings Bridge replacement is set for May 20 at Hastings City Hall. The hearing, which runs from 3 p.m. to 7 p.m., comes on heels of a newly published...

St. Louis Park-based Diversified Construction announces projects.
May 6, 2009... Byline: Finance and Commerce Staff Diversified Construction, a St. Louis Park-based commercial general contractor, is announcing a handful of projects. The company's new clients include: IKEA (Bloomington), Wolfmotell (Minneapolis),...

Study: Minnesota among leaders in union job-targeting campaign.
May 6, 2009... Byline: Brian Johnson A new study shows that Minnesota is among the most active states when it comes to union job targeting programs. The programs, also known as market-recovery funds, offer grants to contractors with organized workers...

CVS to open at Skyscape condominium tower in downtown Minneapolis.
May 7, 2009... Byline: Burl Gilyard The ubiquitous national pharmacy chain CVS will open a branch on the ground floor of the Skyscape condominium tower in downtown Minneapolis. West Bloomfield, Mich.-based Velmeir Companies, a developer that often...

Jobs bill headed to Minn. Gov. Pawlenty.
May 7, 2009... Byline: Charley Shaw The omnibus economic development finance bill passed both DFL-controlled legislative chambers this week. But 13 House Democrats voted against the measure in that chamber, including Rep. Mindy Greiling of Roseville,...

Overhaul of Edina's 'Leisure Lane' retail center includes name change.
May 7, 2009... Byline: Burl Gilyard Goodbye, Leisure Lane -- hello, Rue de France. Construction is under way on an overhaul of Edina's Leisure Lane retail center, so named when the project was first built in the 1970s. Plans call for spiffing up...

Twin Cities apartment vacancy climbs to 4.9 percent.
May 7, 2009... Byline: Finance and Commerce Staff Minneapolis-based GVA Marquette Advisors released its latest Apartment Trends report for the first quarter. The new numbers show that Twin Cities apartment vacancy has climbed to 4.9 percent, up from 3.9...

The Minnesota chapter of NAIOP asks: 'Can You Handle the Truth?'.
May 7, 2009... Byline: Finance and Commerce Staff The Minnesota chapter of NAIOP, the Commercial Real Estate Development Association, is hosting a program grappling with the rocky economic climate: Can You Handle the Truth? The Winners and Losers in...

Minneapolis office of Colliers Turley Martin Tucker announces deals at Colonial Warehouse.
May 7, 2009... Byline: Finance and Commerce Staff The Minneapolis office of Colliers Turley Martin Tucker announced that senior vice president Dick Keller has represented the owner of the Colonial Warehouse building in downtown Minneapolis in several new...

Feds tap developer for $53.7 million FBI office in Brooklyn Center.
May 7, 2009... Byline: Finance and Commerce Staff The U.S. General Services Administration (GSA) announced that it picked Atlanta-based Barry Real Estate Companies Inc. to develop a new field office for the Federal Bureau of Investigation (FBI). The $53.7...

Minneapolis office of Colliers Turley Martin Tucker listing 834-unit apartment complex.
May 7, 2009... Byline: Finance and Commerce Staff The Minneapolis office of Colliers Turley Martin Tucker announced that Gina Dingman and Julie Lux have been retained to list Huntington Place Apartments, a large, 834-unit complex at 5805 73rd Avenue North...

Stress tests: Wells Fargo to raise capital, Minnesota-based U.S. Bancorp OK.
May 8, 2009... Byline: Mark Anderson Following days of leaked news about the results of the large banks' stress tests, it was no surprise when the U.S. Treasury finally announced Thursday that Wells Fargo & Co. was among the banks ordered to beef up its...

Wisconsin-based Associated Bank adds mortgage protection for unemployed.
May 8, 2009... Byline: Finance and Commerce Staff Associated Bank launched a new initiative Wednesday that will defer monthly mortgage payments for up to 12 months for borrowers who lose their jobs. The Extended Deferral Program for Unemployed...

Wells Fargo debuts online resource for small firms.
May 8, 2009... Byline: Finance and Commerce Staff Wells Fargo introduced this week its Business Insight Series, an online educational video resource to help small-business owners manage their businesses. The series includes advice and training on...

St. Paul-based BankCherokee names Andrew Gesell commercial banking senior VP.
May 8, 2009... Byline: Finance and Commerce Staff BankCherokee has promoted Andrew (Andy) Gesell to senior vice president of commercial banking. He will lead the bank's effort to build and grow small business relationships. Gesell received his...

Rochester-based HMN Financial elects two board members.
May 8, 2009... Byline: Finance and Commerce Staff Rochester-based HMN Financial, Inc. recently announced the re-election of Mahlon Schneider and the election of Dr. Hugh C. Smith as directors. Schneider was an executive and general counsel at Hormel...

St. Louis Park-based MoneyGram International boosts service at Bank of China locations.
May 8, 2009... Byline: Finance and Commerce Staff St. Louis Park-based MoneyGram International and Bank of China, a Global Fortune 500 Company, will begin offering MoneyGram money transfer services at all 200 Bank of China locations in Beijing in...

Minnesota-based U.S. Bank joins medical card initiative.
May 8, 2009... Byline: Finance and Commerce Staff U.S. Bank announced recently that it will join an effort by Medical Group Management Association to deploy standardized, machine-readable patient identification cards that are compliant with the guidelines...

Judy Grossinger will head accounting at Maple Grove-based TopLine Federal Credit Union.
May 8, 2009... Byline: Finance and Commerce Staff TopLine Federal Credit Union has promoted Judy Grossinger to assistant vice president of accounting. Grossinger, who joined the credit union in 1999, will oversee all aspects of the accounting area...

Wachovia Securities now Wells Fargo Advisors.
May 8, 2009... Byline: Finance and Commerce Staff Wachovia Securities, which was one of the former North Carolina-based Wachovia Corp.'s prized businesses, began operating in May with a name that reflects its new corporate home as Wells Fargo Advisors....

Minnetonka-based Trissential names two new principals.
May 8, 2009... Byline: Finance and Commerce Staff Cindy Jorgensen and Craig Thielen were named this week as principals and members of the management team at Trissential, a management consulting firm based in Minnetonka. Jorgensen directs the firm's...

Minnesota ads separate 'swine' from 'flu'.
May 8, 2009... Byline: Bob Geiger With references to swine flu hogging news coverage of the H1N1 flu virus last week, David Preisler knew he had to counteract negative consumer sentiment that had spilled onto social media. So Preisler, executive...

Preservation Alliance of Minnesota presents '10 most endangered' list.
May 8, 2009... Byline: Brian Johnson A hotel, a house and a hoosegow are among the state's most endangered historic places as defined by the Preservation Alliance of Minnesota. On Thursday, the alliance announced its 2009 list of 10 Most Endangered...

Schmidt Brewery site shows difficulty of rehabilitating Minnesota's historic structures.
May 8, 2009... Byline: Burl Gilyard It's been four years since the Preservation Alliance of Minnesota named the old Schmidt Brewery one of the state's most endangered historic properties - and since then, nothing much has changed at the site, This...

The top 10: Most endangered historic properties in Minnesota.
May 8, 2009... Byline: Finance and Commerce Staff The Preservation Alliance of Minnesota on Thursday announced its 10 Most Endangered Historic Properties for 2009. Here's a rundown of the top 10 and why they made the cut: The Chaska Athletic...

National Assn. of Home Builders economist expects housing recovery in 2010.
May 9, 2009... Byline: Brian Johnson If housing economist Elliot Eisenberg is correct, local homebuilders should be breathing a little easier about a year from now. Eisenberg, a senior economist with the Washington, D.C.-based National Association of...

Minneapolis awards 15 grants for greenhouse-gas-reduction efforts.
May 9, 2009... Byline: Bob Geiger At Hennepin County Medical Center, patients can look forward to being served meals with organic herbs grown in gardens on the hospital's roof. Not far away, a neighborhood organization will offer Midtown residents...

Minnesota's Xcel Energyand Great River Energy honored at wind energy conference.(Conference news)
May 9, 2009... Byline: Bob Geiger Minnesota utilities took two of the big three honors this week at the American Wind Energy Association (AWEA) national conference in Chicago. Minneapolis-based Xcel Energy Inc. was named investor-owned utility of...

Smashburger the latest entry in Twin Cities restaurant frenzy.
May 9, 2009... Byline: Scott Carlson The Twin Cities burger business is booming. The latest entry - Denver-based Consumer Capital Partners, whose first local Smashburger outlet opens Saturday in St. Anthony, just northeast of Minneapolis. In the...

Minnesota lawmakers, advocates at odds over teacher pension boost.
May 12, 2009... Byline: Charley Shaw Lawmakers are fighting over a controversial proposal to give the slumping Minnesota teachers pension plan a financial boost. The omnibus pension bill contains a proposal to increase teacher and school contributions...

Software firm Open Access Technology International eyeing move to Minneapolis.
May 12, 2009... Byline: Burt Gilyard Plymouth-based software firm Open Access Technology International, Inc., (OATI) is eyeing a former Honeywell building in northeast Minneapolis as a potential site for its new headquarters. City staff from the...

To develop 'innovation economy,' Minnesotans urged to pull together.
May 12, 2009... Byline: Scott Carlson The bad news: Plans to advance Minnesota's science and technology industry suffered a minor setback last week, when Gov. Tim Pawlenty vetoed a $262 million economic development bill that would have created a...

Colorado Army base designed by Minneapolis office of Leo A Daly gets LEED silver honors.
May 13, 2009... Byline: Finance and Commerce Staff The U.S. Green Building Council has awarded its LEED silver certification to a $67 million military complex designed by Leo A Daly and built by Mortenson Construction. The six-building Company...

WSB & Associates adds project manager at St. Louis Park office.
May 13, 2009... Byline: Finance and Commerce Staff Sean Delmore has joined WSB & Associates as a senior project manager. Delmore, who will work in the firm's St. Louis Park office, spent 17 years with the Minnesota Department of Transportation. He has...

Minneapolis-based Braun Intertec hires senior geologist.
May 13, 2009... Byline: Finance and Commerce Staff Minneapolis-based Braun Intertec has hired Edward Bertch to work as a senior geologist in the firm's Cedar Rapids, Iowa, office. Bertch has been assisting clients in Iowa for more than 30 years. He...

Minnesota State University-Mankato honors Kraus-Anderson executive Gerhardt.
May 13, 2009... Byline: Finance and Commerce Staff Minnesota State University-Mankato recently presented its 2009 Distinguished Alumni Achievement Award to Kraus-Anderson executive Alan Gerhardt. The award goes to graduates who have achieved high rank...

Minneapolis Central Library among elite eight.
May 13, 2009... Byline: Finance and Commerce Staff The Minnesota Central Library is one of eight recipients of the national 2009 AIA/ALA Library Award. The awards, presented by the American Institute of Architects and the American Library Association,...

FDA pokes holes in Cheerios health claims.
May 13, 2009... Byline: MATTHEW PERRONE Federal regulators have scolded the maker of Cheerios, saying the company made inappropriate claims about the popular cereal's ability to lower cholesterol and treat heart disease. The Food and Drug...

Minnesota legislator may offer building code proposal as floor amendment.
May 13, 2009... Byline: Charley Shaw Jack Horner, general counsel for the Minnesota Multi Housing Association, warned state legislators this week that landlords would face steep and unnecessary costs if cities enforce ordinances that are different from...

Some uplifting signs in Twin Cities housing market.
May 13, 2009... Byline: Burl Gilyard There are some encouraging signs in the latest local housing statistics, released Tuesday morning. The number of pending housing sales was up 23.8 percent in April compared with a year earlier. The tally of 5,211...

Sulfide mining could boost Minnesota iron range, but proposal triggers fears of environmental damage.
May 13, 2009... Byline: Brian Johnson A proposed $600 million mining project in northeastern Minnesota is drawing fire from environmental groups that say the operation - and others like it - could wreak havoc on lakes and rivers, and leave taxpayers on...

Minnesota legislative bills aim to protect homebuyers when construction defects occur.
May 14, 2009... Byline: Brian Johnson By July of 2006, Charlene Croal had seen enough. Convinced that mold in her family's six-year-old North Branch house was making family members sick, she was ready to move out. The source of the problems, she said,...

Bills aim to protect homebuyers when construction defects occur.
May 14, 2009... Byline: Brian Johnson By July of 2006, Charlene Croal had seen enough. Convinced that mold in her family's six-year-old North Branch house was making family members sick, she was ready to move out. The source of the problems, she said,...

Home-warranty bills advance in Minnesota Legislature.
May 14, 2009... Byline: Brian Johnson Six homeowner-protection bills are moving rapidly through the Legislature now that state lawmakers have worked out a deal with homebuilders who were opposed to the measures. The bills, including one that would...

Minneapolis-based Ryan Co.'s exit from mammoth Arden Hills property illustrates problem.
May 14, 2009... Byline: Burl Gilyard Minneapolis-based Ryan Companies US Inc. spent more than five years pursuing a massive, mixed-use redevelopment site in Arden Hills. Not anymore. Rick Collins, vice president of development for Ryan, said the...

Ads question Minnesota Gov. Tim Pawlenty's no-tax motives.
May 14, 2009... Byline: Bob Geiger As May 18 approaches, state lawmakers and GOP Gov. Tim Pawlenty are replaying the taxes, no-new-taxes game that again is stalling efforts to balance the budget. And numerous interest groups are weighing in, including...

Minneapolis-based nonprofit Aeon opens Wellstone Apartments.
May 14, 2009... Byline: Finance and Commerce staff Minneapolis-based nonprofit Aeon, formerly Central Community Housing Trust, celebrated the grand opening of the new Wellstone Apartments on Tuesday afternoon. The $13 million, 49-unit project represents...

Marty Wolfe joins Minneapolis office of Transwestern as Vice President.
May 14, 2009... Byline: Finance and Commerce staff Veteran Twin Cities office broker Marty Wolfe has joined the Minneapolis office of Transwestern as vice president. Wolfe will be focusing on leasing in the western and southwestern suburban office...

CB Richard Ellis tapped to sell car dealership site.
May 14, 2009... Byline: Finance and Commerce staff The local office of CB Richard Ellis announced that it has been retained to list a former car dealership site in Shakopee for sale for $4.1 million. The property is at 1615 Weston Court in Shakopee. The...

Bloomington, Minn.-based NorthMarq tapped to sell Concordia Academy.
May 14, 2009... Byline: Finance and Commerce staff Bloomington-based NorthMarq announced that the firm has been retained to list the Bloomington campus of the Concordia Academy Association of Schools for sale. The 58,620-square-foot building sits on an...

Bloomington, Minn.-based NorthMarq announces two office transactions.
May 14, 2009... Byline: Finance and Commerce staff Bloomington-based NorthMarq announced two office transactions completed in the first half of April: *NorthMarq senior vice president John McCarthy and associate Larissa Champeau worked with Eden...

Minnetonka, Minn.-based NAI Welsh announces lease deals and hires new architecture director.
May 14, 2009... Byline: Finance and Commerce staff Minnetonka-based NAI Welsh announced that the firm completed two notable lease deals: a five-year, 157,644-square-foot industrial lease to COKeM International, Ltd., and a five-year, 14,730-square-foot...

Ameriprise headquarters in Minneapolis wins LEED status.
May 15, 2009... Byline: Finance and Commerce Staff Ameriprise Financial announced on Monday that its headquarters, the Ameriprise Financial Center at 707 2nd Ave. S., is the first Minneapolis building to receive the LEED-EB silver certification from the...

REAL Deal certification for Maple Grove-based TopLine credit union.
May 15, 2009... Byline: Finance and Commerce Staff Maple Grove-based TopLine Federal Credit Union recently was certified as a REAL Deal organization by the Credit Union National Association, a label that indicates the organization's commitment to the...

Shoreview-based Deluxe Corporation updates small-business website.
May 15, 2009... Byline: Finance and Commerce Staff Shoreview-based Deluxe Corporation has launched its redesigned ShopDeluxe.com, which links small-business owners with Deluxe's menu of customized marketing products and personalized services. The...

Joseph Brown named president of Edina Realty Mortgage.
May 15, 2009... Byline: Finance and Commerce Staff Edina Realty Mortgage this week named Joseph Brown president of its team of more than 70 Twin Cities loan officers. Edina Mortgage is an affiliate of Wells Fargo Home Mortgage, and it is the second...

Minneapolis-based Geneva Organization rolls out strategy for 1031, TIC investors.
May 15, 2009... Byline: Finance and Commerce Staff Minneapolis-based The Geneva Organization will soon roll out a new real estate investment platform which it says will establish a lucrative secondary market for 1031 and tenants-in-common investors. ...

Blue Cross of Minnesota wins innovators award.
May 15, 2009... Byline: Finance and Commerce Staff Eagan-based Blue Cross and Blue Shield of Minnesota received the annual MEDecision Innovation Award recognizing breakthrough implementations of MEDecision products or technologies. Philadelphia-based...

M.E.G. Roy will lead PI group at Lurie Besikof Lapidus in the Twin Cities.
May 15, 2009... Byline: Finance and Commerce Staff M.E.G. Roy was recently appointed president of the Leadership Group at Lurie Besikof Lapidus & Co. LLP, an accounting and consulting firm in the Twin Cities. Roy will direct the firm's management...

St. Louis Park-based MoneyGram, AccountNow launch Visa prepaid card.
May 15, 2009... Byline: Finance and Commerce Staff St. Louis Park-based MoneyGram International will launch a Visa-branded prepaid card in June with AccountNow, a San Ramon, Calif.-based prepaid card marketer. MoneyGram already allows AccountNow card...

Bloomington-based Northmarq Capital opens office in Seattle.
May 15, 2009... Byline: Finance and Commerce Staff NorthMarq Capital opened a loan production office in Seattle last week, its second new office in two months. The new office includes a seven-person Seattle-area lending team, all of whom moved from...