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DEBT AND EQUITIES
Ecolab Inc., St. Paul, said that an arbitration award was rendered Monday which, if upheld, would result in a payment by Ecolab of approximately $27.6 million plus post-award interest. The decision concerns two California class-action suits involving wage/hour claims affecting former and current employees of Ecolab's Pest Elimination Division. Ecolab considers the award to be flawed and is evaluating alternatives. If the arbitration award stands, Ecolab expects it to be fully offset by other one-time benefits for the full year 2007.
Healthsense Inc., Mendota Heights, supplier of health-care monitoring systems for the senior living industry, announced that the Ziegler Companies Inc., through its private equity group, Ziegler HealthVest Management LLC, has purchased a significant stake in the company.
The Mosaic Co., Plymouth, is notifying the lenders under its senior secured bank credit facility of its election to prepay $300 million principal amount of term loans under the facility on Sept. 28. With this payment, Mosaic will have prepaid $700 million in the past five months.
Southwest Casino Corp., Bloomington, entered into a consulting agreement to work with Palace Resorts in developing and opening a casino at the Moon Palace Casino, Golf and Spa Resort, now under construction in Punta Cana, Dominican Republic.
NEW PRODUCTS
Elephant Entertainment, Minneapolis, and Oberon Media, New York, announced the retail release of Sandlot Games' Cake Mania 2 for the PC.
PERSONNEL
Nash Finch Co., Edina, promoted Gary Bickmore to the new position of vice president of sales and business.
Recent Business stories
Gubernatorial candidates promise leadership for all-important agriculture in South Carolina - September 25, 2007
Gubernatorial candidates promise leadership for all-important agriculture in South Carolina - Six candidates running for governor agreed Friday that agribusiness is crucial to South Carolina but each told an audience of farm and business leaders he has the best vision for the $34 billion industry. More
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- Faith-based investors lobby against Chamber's stand
- Red Wing Shoe to trim workforce, consolidate operations
- ADC buyout speculation appears to be just that
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Blog: Patent Pending
Meanwhile, in Wisconsin....
As you read this blog entry, angel investors and start-ups are flocking to Madison, Wisconsin for the annual Wisconsin Early Stage Symposium and the Mid West Health Care Venture forum.
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