business

Effusive is the word that comes to mind in describing the government's memo seeking a reduced sentence for Deanna Coleman, the Tom Petters lieutenant who went to authorities and pulled the plug on a $3.65 billion Ponzi scheme that had yet to appear on the government's radar.

"Deanna Coleman's assistance to law enforcement simply cannot be overstated," the U.S. Attorney's office wrote to U.S. District Judge Richard Kyle, who is scheduled to sentence Coleman next week. "Her whistle-blowing cooperation is quite possibly the most significant cooperation ever provided to law enforcement in a fraud case."

Coleman faces a maximum of five years for a conspiracy charge to which she pleaded guilty as part of a cooperation agreement with the government. Prosecutors are seeking an unspecified but lower sentence. In a separate sentencing memo filed by Allan Caplan, Coleman's attorney, zero prison time is requested.

Coleman provided law enforcement with key documents and offered detailed assistance in explaining the fraudulent operation, according to the pre-sentence memos. Her trial testimony also was credited as crucial to the conviction of Petters last December.

"In sum, the value of Coleman's vast and critical cooperation is well beyond substantial," the government stated.

Movie night

Speaking of Tom Petters, a privately financed documentary about his case is scheduled to premiere at 7 p.m. Wednesday at the Uptown Theatre. The 75-minute production is entitled "The Second Fraud: a Ponzipalooza." The film is critical of court-appointed receiver Doug Kelley and claims he overstepped his boundaries as receiver. Not surprisingly, the documentary is underwritten at least in part by Chicago-area hedge fund manager Thane Ritchie, who lost more than $200 million through Petters and claims Kelley is preventing him from recovering his losses.

St. Olaf makes the grade

Moody's Investors Service has upgraded its bond rating of St. Olaf College from A2 to A1. The Moody's Higher Education Rating Team maintains credit ratings on more than 900 colleges and universities. For its college and university ratings Moody's looks at debt load, endowment returns, net tuition income, physical assets, attractiveness to prospective students, and the level of alumni and donor support. Moody's median rating among private colleges and universities is A3. Moody's has been handing out more downgrades than upgrades recently.

"A strong Moody's bond rating affirms much more than just the college's financial stability; it is a testament to the fact that St. Olaf continues to prosper and excel in difficult times," said college President David Anderson.

Path of least resistance

UnitedHealthcare plans to put $1.95 million over the next three years to help build walking paths around the country, with the goal of 150 new paths in the first year.

The money will be routed through the American Heart Association, which has targeted physical activity as one of seven key factors to cardiovascular health.

Right now, only 15 percent of American adults do enough exercise -- defined as 30 minutes a day, five days a week.

The money from UnitedHealthcare, the commercial arm of Minnetonka-based UnitedHealth Group, will also fund guides to local walking paths and offer online tracking tools and walking videos on the American Heart Association's www.startwalkingnow.org website.

There are already seven paths listed on the site in Minnesota.

DAVID PHELPS, PATRICK KENNEDY, CHEN MAY YEE