localbrfs050208
On the homepage
Vikings
Out There
Pardon Board
Petters
U.S. steps in to help pork producers
Print this story
E-mail this story
Save to del.icio.us
Share on Facebook
Share on Digg
Minnesota business by the numbers
See Minnesota's top earning companies, CEOs and non-profits
More from Business
U.S. steps in to help pork producers
U.S. pork producers, devastated by low hog prices and high expenses, got good news Thursday when the Department of Agriculture promised to buy $50 million in surplus pork for school lunches and other federal nutrition programs. The announcement follows letters from Rep. Tim Walz, D-Minn.; Sen. Amy Klobuchar, D-Minn., and others urging that the federal agency step in to help stabilize the industry, which is on track to lose as much as $3.5 billion this year. The federal purchase is designed to help shrink pork supplies, which would boost market prices paid to producers.
H.J. CUMMINS
Twin Cities rental housing market
With home prices still dropping, the Twin Cities rental housing market continues to show signs of improvement.
During the first quarter of 2008, the average vacancy rate in the Twin Cities metro area declined to 3.9 percent from 4.2 percent the previous quarter and 4.4 percent from a year ago, according to a report released Thursday by GVA Marquette Advisors in Minneapolis. Stronger demand for apartments is pushing rents up. During the first quarter, the average rental price in the market rose to $908, up 3.7 percent over the past 12 months and 1 percent from the previous quarter. More detailed data can be found at www.startribune.com/homes.
JIM BUCHTA
Stearns Inc. to close Grey Eagle plant
A central Minnesota company that makes water-safety and outdoor equipment is merging with a larger company and cutting 166 jobs.
Stearns Inc. says it will close its Grey Eagle manufacturing plant and cut jobs in Sauk Rapids. The company will do business as the Coleman Co., and will transfer responsibilities to its headquarters in Wichita, Kan.
Stearns sold products under several brands, including Stearns, Sevylor, Sospenders, Hodgman and Mad Dog Gear. Employees whose jobs are being cut will be offered severance packages, the company said.
ASSOCIATED PRESS
Recent Business stories
Heinz to report its second-quarter results Tuesday - May 1, 2008
Heinz to report its second-quarter results Tuesday - H.J. Heinz Co. is scheduled to report earnings for its fiscal second quarter on Tuesday before the market opens. The following is a summary of key developments and analyst opinion related to the period. More
Blog: Patent Pending
Lights out at U energy conference. Irony police notified.
Just as Lawrence Kazmerski, a top official at the National Renewable Energy Laboratory, was about to give the keynote address at the University of Minnesota's annual E3 conference at the RiverCentre in St. Paul, the lights went out, bathing the audience in darkness and a deep sense of irony.
Comment on this story | Be the first to comment | Hide reader comments