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Byline: KIRK SHINKLE
Executives at bed maker Select Comfort Corp. must be sleeping better these days.
In the last year, the company has stepped back from the brink. It's logged five straight quarters of profit after losing money each year from 1999 to 2001.
Select, which also runs a 322-store retail chain, went public in 1999. It foundered almost immediately afterward.
Problems abounded. The retail chain had too many stores. The ad campaign was costing money but not bringing in much business. Plus, Select was running out of cash.
At its lowest point in May 2001 -- with a share price below 50 cents -- there were questions whether the firm could recover.
It was up to Chief Executive Bill McLaughlin to calm everyone's nerves and move Select in …