localbrfs050208
On the homepage
Sunday's paper
Out There
Music
Tour de France
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
- Petters investor in Illinois charged in fraud
- Dress distress: Airline union wants bigger uniforms
- Medtronic recalls insulin infusion equipment
- Twin Cities advisers accused of fraud, mismanagement
- Supervalu CEO clears space on executive shelf
- Smith & Hawken to close its doors in Edina
- CEO vows better performance as GM exits bankruptcy
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 [...]
Comment on this story | Be the first to comment | Hide reader comments