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Adam Belz

Business reporter | Economy
phone: 612-673-4405
Adam covers the economy for the Star Tribune and maintains a blog called 3D Economics. He wrote for the Cedar Rapids Gazette and The Des Moines Register in Iowa before moving to Minnesota in June 2012.
Recent content from Adam Belz
US Internet's high-speed fiber hits a snag with Minneapolis Park Board

US Internet's high-speed fiber hits a snag with Minneapolis Park Board

The board denies request to extend fiber optic network under parkland.

TCF launches new service aimed partly at the 'underbanked'

Industry is targeting the "underbanked" with an atypical savings account.
Minn. private sector posts 2nd best month of job creation ever in April

Minn. private sector posts 2nd best month of job creation ever in April

Minnesota added 15,600 jobs in April, while the unemployment rate held steady at 3.8 percent.
At Minneapolis Fed, economists see risks in big banks but reject breakup strategy

At Minneapolis Fed, economists see risks in big banks but reject breakup strategy

Bernanke is cool to breaking up big banks; Kashkari draws a "Star Wars" analogy.
Tax on bank debt proposed at Minneapolis Fed meeting

Tax on bank debt proposed at Minneapolis Fed meeting

Government taxes things it wants to discourage — not as much to generate revenue as to change behavior. Cigarettes are taxed. So are sugary drinks,…
U.S. Bank, other big banks get off the dime on smartphone payments

U.S. Bank, other big banks get off the dime on smartphone payments

U.S. Bank and Bank of America got together this spring on a system that lets people instantly pay money to a friend on a smartphone — with a crucial difference.
Ben Bernanke says don't break up big banks, calls for 'more nuanced approach'

Ben Bernanke says don't break up big banks, calls for 'more nuanced approach'

The former Fed chairman, who will be in Minneapolis on Monday, previewed his comments in a blog post.
Sen. Durbin blasts credit card group for botched rollout of more secure cards

Sen. Durbin blasts credit card group for botched rollout of more secure cards

The Illinois senator says card transition has been "plagued by problems."
Small businesses bullish on Minnesota, bearish on nation

Small businesses bullish on Minnesota, bearish on nation

Small-business owners feel good about their own businesses, but they are getting more anxious about the national economy, according to an annual survey from…
Fed's Kashkari to markets: Quit obsessing over interest rates

Fed's Kashkari to markets: Quit obsessing over interest rates

Minneapolis Fed chief urges investors to weigh other issues, notes limits of monetary policy.
COCO co-working firm to expand to Chicago

COCO co-working firm to expand to Chicago

The co-working firm is acquiring a collaborative space in a tech cluster in the city's West Loop.
As deal-making wave crests, three large Minnesota companies will have new owners

As deal-making wave crests, three large Minnesota companies will have new owners

Mergers hit record valuations last year, but this year is proving big with 3 major deals.
Obituary: Ruth Johnson showed gunnery sergeants what expert meant

Obituary: Ruth Johnson showed gunnery sergeants what expert meant

Her children described her as demure, but it turned out Ruth Johnson had an instinct for firearms. Before all those decades of faithful attendance at…
TCF Financial reports 20 percent jump in profit

TCF Financial reports 20 percent jump in profit

Loan growth helped interest income grow.
U.S. Bank's profit slips because of losses in loans to the energy industry

U.S. Bank's profit slips because of losses in loans to the energy industry

At the 'Goldilocks' of banks, CEO Davis isn't worried about too-big-to-fail scrutiny.
Kashkari lays out new reasons why nation's biggest banks pose risks to taxpayers

Kashkari lays out new reasons why nation's biggest banks pose risks to taxpayers

Minneapolis Fed chief takes on critics of his too-big-to-fail bank scrutiny
TCF forges ahead with auto lending despite analyst worries

TCF forges ahead with auto lending despite analyst worries

Bank is confident in its portfolio despite analysts' concerns about market.
Minnesota loses 2,900 jobs; unemployment rate holds at 3.7%

Minnesota loses 2,900 jobs; unemployment rate holds at 3.7%

Minnesota's growth rate over the past year below the national percentage.
Wells Fargo among bank giants told to try again on contingency plans

Wells Fargo among bank giants told to try again on contingency plans

Regulators rejected the 'living wills' of five of the nation's largest banks.
Large bank capital positions improving, FDIC says

Large bank capital positions improving, FDIC says

Vice Chairman Thomas Hoenig says that it's still not enough.
Minneapolis Fed stokes debate over bank capital, safety

Minneapolis Fed stokes debate over bank capital, safety

The Minneapolis Fed's yearlong look at ending "too-big-to-fail" is posing some big questions.
JPMorgan's Dimon: America needs big banks

JPMorgan's Dimon: America needs big banks

Jamie Dimon did not mention Neel Kashkari, but rebutted the Minneapolis Fed chief's ideas on breaking the "too big to fail" system.
Park Board, neighbors seek to beautify Cedar Lake beach

Park Board, neighbors seek to beautify Cedar Lake beach

The Minneapolis Park and Recreation Board has settled on plans for a major revamp of Cedar Lake’s South Beach. Now it just needs to find…
Critics lay into bank breakup proposal that surfaced at Minneapolis Fed

Critics lay into bank breakup proposal that surfaced at Minneapolis Fed

Mpls. conference draws replies, including from Tim Pawlenty, who says Dodd-Frank is working.
Mpls. Fed forum takes aim at "too big to fail"

Mpls. Fed forum takes aim at "too big to fail"

The regional Fed's initiative to beef up bank safeguards got off to a sometimes-contentious start.
After leaving Mpls. Fed, Kocherlakota finds new role: blunt Internet commentator

After leaving Mpls. Fed, Kocherlakota finds new role: blunt Internet commentator

Pop stars and politicians pepper the Internet with selfies and bombastic tweets to grab attention. But in the narrower realm of economics, there’s a new…
Minnesota's export growth wiped out by dollar's strength

Minnesota's export growth wiped out by dollar's strength

Overseas sales have plunged, dealing a blow to major companies' bottom lines.
White House economic adviser says Pacific trade deal must get done by year's end

White House economic adviser says Pacific trade deal must get done by year's end

White House adviser Furman says a ratification vote should occur while leaders are aligned.
Minnesota added 9,000 jobs in February; jobless rate steady at 3.7%

Minnesota added 9,000 jobs in February; jobless rate steady at 3.7%

Retail, construction, and health care drove the gains as the labor force grew by 18,700.
Low-paying jobs in Minnesota are paying a bit higher

Low-paying jobs in Minnesota are paying a bit higher

Fewer openings offer under $10 an hour, but 3 in 5 pay less than $15, state reports.
Minnesota tech hiring grows in 2015, more help wanted

Minnesota tech hiring grows in 2015, more help wanted

Minnesota's better-than-average technology industry posted another strong year of hiring in 2015, as demand for tech talent outpaces supply.Tech companies added 5,500 jobs in the…
Neel Kashkari prepared to fend off critics of his yearlong banking study

Neel Kashkari prepared to fend off critics of his yearlong banking study

In first Twin Cities appearance, new Minneapolis Fed president takes on critics of big bank review.
More talks held, but no deal reached on contract for janitors

More talks held, but no deal reached on contract for janitors

The two sides will meet again for talks on Friday and Saturday.
Unions wield limited weapon: the 24-hour strike

Unions wield limited weapon: the 24-hour strike

Facing constraints, labor more and more turn to one-day protests.
Janitors walk off from cleaning Twin Cities offices seeking higher pay

Janitors walk off from cleaning Twin Cities offices seeking higher pay

Hundreds of janitors staged demonstrations at the airport, other major employers in metro area in 24-hour strike.
Bank of America pushes into Twin Cities

Bank of America pushes into Twin Cities

Now with a branch in downtown Minneapolis, the industry giant steps up its presence in area dominated by Wells Fargo and U.S. Bank
New Mpls. Fed chief says 'Too Big to Fail' still a major problem in banking

New Mpls. Fed chief says 'Too Big to Fail' still a major problem in banking

New Minneapolis president says regulators must consider bold options.
4,000 metro office janitors announce strike for Wednesday

4,000 metro office janitors announce strike for Wednesday

The 24-hour walkout comes after months of negotiations, with wages a central issue.
Sunday conversation: Mynul Khan of Field Nation

Sunday conversation: Mynul Khan of Field Nation

Field Nation has made a fast-growing business out of connecting tech service companies with freelance technicians, but CEO Mynul Khan is thinking bigger.

Mining jobs evaporate in December, iron ore shipments slow on Great Lakes

The sector has lost one in seven jobs over last year.

Doherty sells its human resources management unit to Florida firm

Oasis Outsourcing will continue operations in the Twin Cities.
Minnesota employers add 7,200 jobs in November

Minnesota employers add 7,200 jobs in November

Construction leads the way, as Minnesota's unemployment rate falls
Federal Reserve Bank of Minneapolis picks union leader for board of directors

Federal Reserve Bank of Minneapolis picks union leader for board of directors

On Jan. 1, Harry Melander will join MayKao Y. Hang, the chairwoman of the board and CEO of the Wilder Foundation, and Ken Powell, the deputy chairman and CEO of General Mills.
Minnesota GDP grew by 4.5 percent in second quarter

Minnesota GDP grew by 4.5 percent in second quarter

Minnesota’s economy grew briskly in the second quarter, with gross domestic product rising 4.5 percent compared to a year earlier, according to seasonally adjusted data…
Minneapolis start-up wins federal grant to develop educational biology game

Minneapolis start-up wins federal grant to develop educational biology game

A small Minneapolis start-up that makes educational games has been awarded a federal grant to develop apps to help students learn difficult science and math…
Charlie Boone, legendary WCCO morning radio host, dies at 88

Charlie Boone, legendary WCCO morning radio host, dies at 88

"Boone and Erickson," Boone's 37-year collaboration with Roger Erickson, was one of the most popular shows on radio from the 1960s to the 1990s.
Labor shortage has companies working OT to find employees

Labor shortage has companies working OT to find employees

A tight labor market leaves short-staffed businesses scrambling to recruit, retain and even transport workers.

Minnesota sheds 1,700 jobs in October, unemployment rate drops

A second month of fewer jobs is another sign that labor growth is plateauing in Minnesota.
AFL-CIO President Richard Trumka slams Trans-Pacific trade deal

AFL-CIO President Richard Trumka slams Trans-Pacific trade deal

Richard Trumka says the Trans-Pacific Partnership needs to be stopped.
Bailout dangers were on the radar of the Minneapolis Fed long before Kashkari's arrival

Bailout dangers were on the radar of the Minneapolis Fed long before Kashkari's arrival

Neel Kashkari is taking the reins of the regional Federal Reserve bank that has been at the forefront of research into the cycle of financial crises and bailouts, a problem of expectations that is far from solved.
Mpls. Fed taps key figure in government bailout as new president

Mpls. Fed taps key figure in government bailout as new president

The appointment is a change after more than 30 years of leadership by academic economists.
Target had quiet talks with labor on Mpls. workplace rule

Target had quiet talks with labor on Mpls. workplace rule

Target Corp., the largest private employer in Minneapolis, worked closely with the backers of the workplace scheduling ordinance that angered many businesses before city leaders dropped it last month.
Entrepreneur tries an artful new direction in pens

Entrepreneur tries an artful new direction in pens

After selling pens to corporations for years, Barry Rubin has taken the business and turned it into usable art
Michael Jordan, Mark Cuban invest in parent of Mpls. sports stats firm

Michael Jordan, Mark Cuban invest in parent of Mpls. sports stats firm

$45M investment in Sportradar, with U.S. roots at the University of St. Thomas, isn't just financial.
New Canadian leader's spending plans could help state exporters

New Canadian leader's spending plans could help state exporters

Justin Trudeau, the leader of the newly elected Liberal government, hopes to jump-start Canada's economy by spending big on health care and public works, roads and bridges, ports, public transit and border crossings.
Obituary: Chemist George Chang, a famed philosopher's son, was a 'historian at heart'

Obituary: Chemist George Chang, a famed philosopher's son, was a 'historian at heart'

The son of a renowned Confucian scholar and an early feminist in China, George Chang fled his home country in 1947 to study in the…
Greater MSP group launches new front in war for talent

Greater MSP group launches new front in war for talent

Low unemployment, aging workforce push companies to launch new initiative.

Economist Greenstone sees climate change accelerating as developing countries rise

In a lecture at the U, he said energy habits must change as developing countries rise.
Restaurants' labor shortage shows stretched Minn. economy

Restaurants' labor shortage shows stretched Minn. economy

Minnesota restaurateurs are facing a growing shortage of workers at the same time a boom in new restaurants is creating even more need for servers and cooks.
Local labor groups launch campaign against U.S. Bank, Wells Fargo

Local labor groups launch campaign against U.S. Bank, Wells Fargo

Unions seek $15-an-hour minimum for tellers, janitors.
Twin Cities GDP grew 2 percent last year, metro ranks 14th in the nation

Twin Cities GDP grew 2 percent last year, metro ranks 14th in the nation

Growth in manufacturing and services businesses offset some losses in financial services.
Minnesota adds 7,300 jobs in August, sets slower pace

Minnesota adds 7,300 jobs in August, sets slower pace

There have been solid gains and unemployment is low. Stil, "I think our trajectory is flattening out," said Steve Hine, the labor market analyst at the state.
Job vacancies are soaring in Minnesota, but most have low pay

Job vacancies are soaring in Minnesota, but most have low pay

In Minnesota, most openings don't pay enough to support a family of three.

Stanford economist: Fed should start to raise rates

U.S. monetary policy is too unpredictable, Taylor said.
In a dramatic shift, joblessness plunges for Minnesota's Latinos

In a dramatic shift, joblessness plunges for Minnesota's Latinos

Hispanic jobless rate dips below the state average, but low wages and part-time positions cloud the picture.
Women drive success of Somali mall in south Minneapolis

Women drive success of Somali mall in south Minneapolis

The women who run the shops cover their heads, and many of them believe it is a man's responsibility to pay bills for the family. Yet they prize entrepreneurship.
Comcast to double Internet speeds for many in Twin Cities, for free

Comcast to double Internet speeds for many in Twin Cities, for free

The move is the latest attempt to expand broadband service in the Twin Cities metro area.
Jobless rate climbs as Minnesota loses 3,900 jobs in July

Jobless rate climbs as Minnesota loses 3,900 jobs in July

The state's unemployment rate ticked upward to 4 percent.
In Minn. timber country, no love lost between logger and giant paper mill

In Minn. timber country, no love lost between logger and giant paper mill

A nearly two-year-old fight between a local businessman and the multinational corporate owner of an International Falls paper mill is distorting wood prices in northern Minnesota, upsetting other loggers and causing anxiety in the city as the mill's workforce shrinks.
Loonie's swoon makes for deals on other side of Minn.-Canada border

Loonie's swoon makes for deals on other side of Minn.-Canada border

Canadian dollar at its weakest point in 11 years, so Minnesotans get better deals north of border

Minnesota job market grows a little in June

Jobs added in construction, private education and health care, but pay is stagnant.
U.S. Bank's profit falls slightly as revenue declines

U.S. Bank's profit falls slightly as revenue declines

Its per-share profit met expectations as the nation's fifth-largest bank continues to grapple with low interest rates.
Fast-growing When I Work to acquire ShiftHub, raises another $5 million

Fast-growing When I Work to acquire ShiftHub, raises another $5 million

The fast-growing St. Paul maker of scheduling software attracts funding, acquires competitor
Giant brand may be price for Vikings giant stadium

Giant brand may be price for Vikings giant stadium

People attentive to architecture and design say the look of the building will be weakened by its heavy commitment to branding.
As travelers carry less cash, will ATMs at airports go the way of phone booths?

As travelers carry less cash, will ATMs at airports go the way of phone booths?

MSP officials struggle to drum up interest from major financial companies to place ATMs in the airport.
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