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Sanyo to license 3M batteries in settlement
3M Co. said it has settled a patent-infringement suit against Sanyo Electric Co. over lithium-ion batteries used in computers and other electronics. Financial terms weren't disclosed. Sanyo, the world's biggest maker of rechargeable batteries, will license the technology from 3M, according to a statement from 3M. The Maplewood-based maker of thousands of products filed a lawsuit and U.S. trade complaint against Sanyo and other electronics companies in March. 3M has settled with Sony Corp., Matsushita Electric Industrial Co., and computer maker Lenovo Group Ltd.
BLOOMBERG NEWS
Imation sued over flash memory technology
SanDisk Corp., the world's largest maker of cards that store digital pictures, filed complaints against 25 companies, including Imation Corp. of Oakdale, that it accuses of infringing its patents involving flash-memory chips. The complaints were filed in federal court in Madison, Wis., and with the International Trade Commission in Washington, SanDisk said. The complaints seek to block imports of the companies' products and unspecified damages. Flash memory chips manage data in digital cameras, cell phones and MP3 players. SanDisk is based in Milpitas, Calif.
BLOOMBERG NEWS
Former credit union chief pleads guilty
The former head of First Community Credit Union of Columbia Heights pleaded guilty in federal court to embezzling funds for his personal use and filing a false income tax return in 2001. In return for the admission of guilt, the government dropped numerous related charges against Richard Lange, 51, who resigned in December 2004 after 27 years with the financial institution. U.S. District Judge Paul Magnuson is expected to sentence Lange early next year, following a hearing to determine whether Lange should be held accountable for other funds he obtained in addition to his salary between 2000 and 2004.
NEAL ST. ANTHONY
Proxy advisers recommend Midwest sale
Four proxy advisers have recommended that Midwest Air Group Inc. shareholders approve the airline's sale to a private equity firm and Northwest Airlines. A shareholder meeting is scheduled Tuesday for a vote on the deal, valued at about $450 million in cash. Midwest agreed in August to be bought by TPG Capital in a deal that includes Northwest as a passive investor. The sale is expected to be completed before the end of the year. It is also subject to antitrust approval because of Northwest's involvement. The Eagan-based airline has said it would not participate in Midwest's management.
ASSOCIATED PRESS
Weyerhaeuser to take mill-closing charges
Weyerhaeuser, the world's largest lumber producer, will take pretax charges of as much as $63 million for closing wood mills as building-material demand slows. Charges of at least $47 million will be booked in the fourth quarter, Weyerhaeuser said. Indefinite shutdowns are planned at a laminated strand lumber plant in Deerwood, Minn., and laminated strand lumber oriented strand board plants in Drayton Valley, Alberta, and Wawa, Ontario. The closings will affect 420 employees.
BLOOMBERG NEWS
- Dress distress: Airline union wants bigger uniforms
- CEO vows better performance as GM exits bankruptcy
- Twin Cities advisers accused of fraud, mismanagement
- Smith & Hawken to close its doors in Edina
- Oil below $60 as earnings season opens
- Supervalu CEO clears space on executive shelf
- Mall, teen store sales decline
Blog: Patent Pending
U to host big conference
The University of Minnesota will host the annual conference of the Association of University Research Parks in 2010. The conference will focus on ways research parks and innovation can aid the world’s economic recovery. Pretty good timing for the U. Through state-approved bonds, the school is spending $292 million to build four biomedical buidlings on its [...]
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