business

Target vice president Curtis Ulrich, son of former CEO Robert Ulrich, is no longer with the company.

"I'm no longer employed at Target," said Curtis Ulrich, 47, former vice president of store planning and engineering in Target's corporate property development operation. "But I can't comment on any of that because I haven't talked to a lawyer about what I can and can't say."

Target officials declined to comment about the younger Ulrich's departure, which came the same week that 85 Target employees were laid off in another corporate department, marketing.

Curtis Ulrich wasn't the only Ulrich offspring at Target; Curtis' sister Jacqueline Byers also was working there as recently as May. Target's proxy statement said the pay and benefits for Robert Ulrich's two children "were established in accordance with our compensation policies applicable to employees holding comparable positions." On the social networking service LinkedIn.com, Byers identified her job as senior group manager of Target Technology Services.

Robert Ulrich stepped down from Target's board at the end of January 2009. He was Target's CEO from 1987 to 2008.

Worried about the potential snowfall this winter? Now you can hedge your bets by buying a Snowfall futures contract, including one based in our own back yard.

The CME Group, a large derivatives market maker, announced the launch of four new locations for monthly and seasonal Snowfall futures and options contracts and new Snowfall Index options contracts. The new locations include New York LaGuardia Airport, Chicago O'Hare International Airport, Denver Metro Airport, and our own Minneapolis/St. Paul International Airport. The new locations join the Boston Logan International Airport and New York Central Park contracts, which were created in 2006.

The contracts, generally known as weather derivatives, are used by buyers and sellers in the market to manage exposure to snowfall, heat, cold, hurricanes and even frost. Snow removal companies, for instance, could better manage their revenue if it snows less than expected. By the same logic, road salt manufactures could use them as a hedge against their production of road salt. Weather derivatives -- primarily heat and cold indexes -- have been around since 1999 and are well established. But the Snowfall contracts have yet to take off. The CME Group has added them at customer request. Contracts could start trading Dec. 7.

'Maiden Minnesota'

More than 1,300 people are expected at "Maiden Minnesota 2009" after 5 p.m. Thursday at the Graves 601 Hotel Minneapolis. It will showcase 36 women-owned businesses with an artistic flair, and raise funds for Free Arts Minnesota, which helps nurture the next generation of creative types and business owners through arts programming and mentorship. The event, founded in 2007 by Tracy Dyer of Urban Junket and Jen Stack of Relish Minds PR, will showcase Annie Fink Designs, Baby Elephant Ears, Droolin' Moose, Elin & Clara, Empoword, Fabulous Catering, Illume Candles, KH Jewelry Design, Nelle Handbags, Talisman Designs, Thymes and others. The companies will offer exclusive sales, as well as products for a silent auction to benefit Free Arts.

For tickets ($20 in advance, $30 at the door) and more info: www.MaidenMinnesota.com

Supporting the troops

After launching a business-oriented hybrid radio/online show earlier this year, Tom Lyons of Golden Valley-based mergers-and-acquisitions firm Faelon Partners Ltd. is taking to the airwaves in support of veterans.

Lyons, a Vietnam veteran, will host his hourlong Veterans Day Special on KSTP (1500 AM) at 6 a.m. this coming Sunday. Lyons will be joined by attorney Harry Sieben, a retired major general in the Minnesota National Guard, about the guard's mission and about support for returning soldiers and the families of deployed troops.

"What do the troops really want?" said Lyons. "The answer is: 'Take care of my family,' which makes a lot of sense."

In March, Lyons debuted Today's Business Radio, which airs at 7:20 a.m. on Tuesdays and Thursdays on KSTP, or www.todaysbusinessradio.com. KSTP also will air public service announcements about how the public can support veterans, the troops and their families.

PATRICK KENNEDY, NEAL ST. ANTHONY, STEVE ALEXANDER AND TODD NELSON