Staff Directory 232499901

Evan Ramstad

Business Team Leader | Newsroom
Phone: 612-673-4241
Location: Minneapolis
Other languages: None

Evan Ramstad is a team leader in business news, working with reporters who cover the food industry from field to fork. He also writes about technology, banking and the economy.


He moved to the Twin Cities and joined the Star Tribune in 2013. Ramstad previously worked for The Wall Street Journal in Seoul, Hong Kong and Dallas, and the Associated Press in New York, Washington and Dallas and briefly at the St. Paul Pioneer Press. He grew up in Grinnell, Iowa, where he got a start in journalism at radio station KGRN.
Recent content from Evan Ramstad
As workers have become hard to find, the rate of hiring has fallen sharply in Minnesota over the last two years. ] CARLOS GONZALEZ ï cgonzalez@startr

Hiring froze again last month in Minnesota

Minnesota added a mere 100 jobs despite significant growth in wages.
U.S. Bancorp's profit rose 5% in the third quarter as it relied more heavily on fees and other noninterest income to drive its growth.

U.S. Bancorp executives, fresh off strong quarter, won't predict 2020

Interest-rate expectations change almost daily.
Fastenal shares rose 17%, the most in one day since September 1987, after the firm reported better-than-expected third-quarter results.

Fastenal shares jump 17%, biggest one-day gain in 32 years, after upbeat results

Winona company's sales and profits beat expectations as the manufacturing sector cools.
Twin Cities Startup Week starts Oct. 6. Shown is a gathering during last year's event at the WeWork office of workers from out of town that the startu

Twin Cities Startup Week organizers' goal is to make it more manageable

Workshops and events will be built around themes and concentrated by location.
Calabrio CEO Tom Goodmanson is prepared to move the company’s nearly 400 employees into its new North Loop offices in the coming days.

Calabrio's big year climaxes with move to North Loop office

Maker of customer-service software has a new North Loop office to match its new way of work
Interviews went on at multiple tables during a recent Minnesota State Job Fair.

Minnesotans' income grew faster than inflation last year, while inequality expanded slightly

Latest Census survey shows more effects from retiring baby boomers.
Target information systems were down briefly again on Tuesday. Pictured is the downtown Minneapolis store on Nicollet Mall.

Target's systems briefly go down for third glitch to hit shoppers in 3 months

It affected cash registers, Target's website and mobile app.
“I’m truly failing healthwise both physically and mentally.” Irwin Jacobs’ note

Inheritance fight lays bare decades of tension in Jacobs family

The fight spilled into the open last week after lawyers for daughter Randi Jacobs won a temporary court order stopping her brother Mark and other siblings from conducting an estate sale at their parents' Lake Minnetonka home.
Wendy Cutler, vice president of the Asia Society Policy Institute, said on a visit to Minneapolis that U.S. is on the verge of a trade deal with Japan

Upcoming trade deal with Japan should help U.S. farmers

Terms are in line with those in a bigger trade deal President Trump abandoned shortly after taking office.
The fight among Irwin Jacobs' children broke into the open last weekend after a court order was obtained to stop an estate sale at their parents’ La

Son says Irwin Jacobs left more than $110 million in debts

Siblings hold differing views about the size of estate, which has led to a court battle.
Jostens’ new CEO, Michael Burgess, has a strategy to keep students buying class rings and yearbooks in the digital age. He also plans to expand the

With a new owner and CEO, Jostens aims for faster growth and greater stability

It's a turning point that executives and employees hope marks the end of two decades of turbulence.
Andrew Cecere, chief executive of U.S. Bancorp, said top leaders recognize they can't take the firm's success for granted.

U.S. Bancorp execs see slower growth ahead, but no recession in the U.S.

Investors pressed executives on the pace of change at the nation's No. 5 bank.
Comcast's Minnesota regional office in St. Paul.

Comcast to cut up to 235 jobs in Twin Cities in call center shift

Changes in two operations could shrink local workforce.
Famous Dave's corporate name is changing to BBQ Holdings Inc. as the firm begins to pursue acquisitions as an avenue of growth.

Famous Dave's, the company, is getting a new name; restaurants stay the same

Stock symbol will switch from DAVE to BBQ; its restaurant names will stay the same.
5G antennas on a light pole seen on 3rd Avenue in downtown Minneapolis.

5G is making lots of noise, and rollout will be 'deliciously messy'

Rollout could be "deliciously messy" and more risky than past cellphone technology advances.
Dean Broadhead

Broadhead buys Kohnstamm, uniting two local marketers with national reach in food

The marketer who launched Honest Tea and Boomchickapop moves his shop into the hands of a bigger one.
Tommy Khoo, Edwin Melendez, Sean Higgins and Risa Piper, left to right, of the St. Paul startup BetterTime Co., are developing and selling a smartphon

St. Paul tech company touts app to tame your smartphone use

A St. Paul startup found a way to use the data-collection abilities of digital gadgets to help people put them aside.
Charlie Youakim, founder and CEO of Sezzle.

Minneapolis fintech firm Sezzle is still small but in rocket stage of growth

Revenue has shot up as retailers and customers rapidly sign on.
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis. (Glen Stubbe/Minneapolis Star Tribune)

Kashkari suggests Fed use a tool from 2008 recession to fight a slowdown now

Minneapolis Fed president thinks central bank should signal long-term plans for rates.
Target Corp. shares were on track for their biggest one-day gain Wednesday. File photo of Target CEO Brian Cornell during a TV interview on the floor

By the numbers: Target's exceptional day on the market

Target's investors have never had a day like Wednesday.
The construction sector performed the best as far as employment in Minnesota last month. Here, workers are renovating Irondale High School in the Moun

Minnesota lost 1,300 jobs last month, unemployment ticked up to 3.4%

The state more and more looks like its job cycle has peaked.
Several dozen top executives of publicly-traded companies from Minnesota and elsewhere met with Twin Cities investors and analysts Wednesday. Pictured

On rough day for stocks, Minnesota's top execs make pitches to local investors

Top executives from about 40 Minnesota-based companies pitched their strategies for getting through the next year.
Bank of America CEO Brian Moynihan, interviewed at the Minneapolis Institute of Art Tuesday, said the U.S. economy is slowing but still growing solidl

Bank of America CEO: Consumers, small businesses are powering the U.S. economy

Brian Moynihan said larger businesses grapple with uncertainty over global trade and the economic performance of other countries.
In this July 10, 2019, photo a Wells Fargo building is shown in downtown Minneapolis. Wells Fargo is shrinking a customer service office in Shoreview,

Wells Fargo to shrink office in Shoreview, costing 400 jobs

Wells Fargo is shrinking a customer service center in Shoreview, a move that will lead to the elimination of about 400 jobs.

Dorsey & Whitney expands immigration services by acquiring Webber Law Firm

The deal brings a boutique specializing in hiring matters to a large firm with a policy focus.
The parent of the Perkins chain of family restaurants is putting itself up for sale and entered a bankruptcy restructuring to help make a deal happen.

Perkins is up for sale, parent firm enters bankruptcy to make a deal

The family restaurant chain has been majority-owned by Wayzata Investment Partners since 2011.
In this March 14, 2015 file photo, people watch a landing Delta Air Lines jet approach the Narita International Airport.Delta Air Lines in early 2020

Delta signals the final phaseout at Tokyo's Narita

It will shift flights to Haneda International Airport.
Today's TCF shares aren't the same as last week's.

TCF's share price didn't really double last week, even if it looks that way

Websites list TCF stock with different prices, name.

Mac specialist Jamf buys Digita Security to develop security products

Deal gives Minneapolis firm a leading detector of flaws in Mac software.
The new Chase bank in Minneapolis, near the University of Minnesota, features several restaurant-like booths for customers to meet with bankers.

Chase opens its first branch in Minneapolis, with tellers that emerge with a flourish

To keep customers focused on exploring digital options, tellers stay hidden until needed at the first Minneapolis location.
Charlie Youakim, founder and CEO of Sezzle.

Minneapolis' Sezzle takes its buy-now, pay-later idea to Australian investors

The small Minneapolis firm is going public on the Australian stock market instead of in the U.S.

Piper Jaffray reports 67% jump in 2Q profit

The better-than-expected results were driven by higher investment income.
Exterior of the TCF branch on W. 50th St. in Minneapolis. (JEFF WHEELER)

TCF's profit jumps more than 50% in final quarter as standalone bank

TCF Financial Corp., in its last quarter before it merges with a Michigan bank, saw its profit jump 54% as expenses fell sharply compared with…
Ameriprise Financial posted a 6% increase in its second quarter profit.

Ameriprise's financial-advisory business drives 6% jump in quarterly profit

Ameriprise Financial Inc.'s second-quarter profit rose 6% as strength in its financial-advisory business helped offset ongoing pressure in its asset-management unit.The Minneapolis-based company said Wednesday…

U.S. Bank buys BMW's credit card business, will offer co-branded cards

The deal adds a touch of luxury with the co-branded plastic.
The oldest portion of the Dayton's complex, the original building at S. 7th Street & Nicollet Avenue, shown in a 1960 file photo, was built in 1902. T

With historic designation, makeover of downtown Dayton's gets financial and nostalgic boost

Downtown Mpls. complex is now eligible for tax credits, other incentives.
The state added 3,300 jobs last month, lifting the hiring rate off the floor but still well below the pace seen during much of the economic expansion

Minnesota's job market swings back, adds 3,300 jobs

But the big trend is unchanged: the pace of hiring has slowed sharply over the past year or so.
Verizon upgraded a portion of its network in St. Paul to fifth-generation, or 5G, technology. File photo of the Samsung Galaxy S10 5G, one of the few

5G arrives in St. Paul. Just a little, like in Mpls.

The coverage extends over parts of downtown, Lowertown and the West Seventh areas.
U.S. Bancorp's latest profit rose 4% as more of its customers embraced digital banking and interest rates held steady.

U.S. Bancorp customers embrace digital banking, helping company's profits

Second-quarter results indicate the Minneapolis company remains one of the top performers in the industry.
Many of Minnesota's exports move through the Duluth Harbor.

Minnesota sees a turn downward in exports, new data show

Cause behind the tumble is unknown, but it is happening around the Midwest.
Piper acquired Sandler O’Neill not for consolidation or cost savings, but for “driving growth, ”said CEO Chad Abraham, with President Debbra Sch

Piper Jaffray's Sandler O'Neill acquisition: A gamble on growth

With the move, Piper Jaffray will expand its reach to financial-service clients.
The Calhoun Square Famous Dave's in Uptown was closed instead of remodeled, as the company planned a month ago. Executives said they'll find a new loc

Famous Dave's leaves Calhoun Square, looking for new Uptown home

The company is looking for another spot in Uptown instead of remodeling its current location.
Piper Jaffray is buying Sandler O'Neill, a New York investment bank that specializes in deal advising in the financial services industry, for $485 mil

Piper Jaffray buys Sandler O'Neill, banking deal specialist, for $485M

The purchase will unite two small but well-regarded investment-banking firms.
Shares in CyberOptics, maker of sensors like this one used in semiconductor manufacturing, fell sharply Tuesday as executives warned that quarterly sa

CyberOptics shares plunge 23% as chip-industry slump pounds its sales

Executives said spring sales came in at the low end of forecasts and they are downbeat about the rest of 2019.
UnitedHealth Group Inc.'s campus in Minnetonka.

UnitedHealth Group helps launch data science program at black colleges in Atlanta

The group will spend $8.25 million over 5 years for students at the schools.
Skywater Technology's Director of Production Eric Schneider, right, looked over the new equipment that was being installed at Minnesota's biggest chip

Minnesota added 51 to 100 jobs in May as job market stalls

Statistically, Minnesota's job market has flatlined as year-over-year growth lags far behind national pace.
Bite Squad driver Brent Mellett picked up orders at restaurants and delivered them to customers around Minneapolis Wednesday afternoon. Bite Squad sol

Speed counts in food deliveries, and in mergers like Bite Squad and Waitr

With merger, Bite Squad and Waitr vie for market share
Skywater Technology's Director of Production Eric Schneider, gave a tour of production at Minnesota's biggest chip plant, Wednesday, May 22, 2019 in B

Why computer-chip factories from the 1980s are still going strong in Bloomington

The rise of specialty chips in all kinds of things has given new life to older factories across the U.S.

Calabrio buys Swedish software firm Teleopti

The deal combines workforce management tools with customer engagement software.
Economies of scale: TCF Financial Corp.’s move to join with Detroit’s Chemical Financial Corp. this year was described as “a merger of equals.�

The digital-first era begins to shake up Minnesota's finance giants

The biggest move over the past 12 months was TCF Financial Corp. merging with Chemical Financial Corp. of Detroit.
Rendering shows the O'Shaughnessy Distillery planned along Malcolm Avenue in the Prospect Park neighborhood of Minneapolis.

Plans unveiled for new distillery near Surly brewery in Minneapolis

Cousins Michael and Patrick O'Shaughnessy, Walls Cos. are behind the project.
Lowell Wakefield, owner of First Minnesota Bank, is selling the firm, which has a sizable presence in the western metro area, to CorTrust Bank of Mitc

First Minnesota Bank sold to S.D. firm as longtime owner Wakefield retires

CorTrust, a fast-expanding South Dakota bank, will extend its reach in towns around the Twin Cities.
Gov. Tim Walz helped negotiate the two-year, $48.3 billion general fund budget.

Amid budget noise, Minnesota's government grows about the same speed as the economy

It took a special session to reach a budget deal, but key economic traits unchanged.
Seymour Cray, founder of Cray Research, and the company's first supercomputer, the Cray-1.

Even as the company is sold, the Cray name will still be seen in high tech

Hewlett Packard Enterprise announced its purchase of the Minn.-founded firm last week.
Samsung's S10 5G phone sits in a cupholder at U.S. Bank Stadium as a speed test is displayed on the screen. The phone downloaded data at the rate of 8

Samsung, Verizon launch first 5G phone, entry price is $1,300

As phone arrives, Minneapolis is in the spotlight as one of two U.S. cities with a live 5G network.
Cale Johnston, founder and chief executive of ClickSwitch

ClickSwitch secures $13 million in second capital-raising in 10 months

The Minneapolis company developed a system for banks to move a person's direct-deposit and bill-payment information in one click.
President of the Federal Reserve Bank of Minneapolis Neel Kashkari

Even with unemployment at 50-year low, Kashkari says it's not the time to raise interest rates

The job scene is not as good as the unemployment rate makes it seem, Minneapolis Fed chief says.
Thrivent Financial will trim about 500 jobs, including about 430 through early retirements.

Thrivent cuts nearly 500 jobs with Brightpeak closure, early retirements

The member-based investment firm aims to trim $40 million in annual expenses.
Cale Johnston, founder and chief executive of ClickSwitch

ClickSwitch gets big win with T-Mobile's banking service as a customer

T-Mobile's new banking service created a surge of customers for ClickSwitch.
Xcel's first-quarter profit rose 8% as demand for natural gas surged during the snowy and cold winter.

Xcel profit rises 8% as cold, snowy winter pushed demand for natural gas and electricity

Xcel Energy Inc.'s first-quarter profit rose 8%, shaped by stronger margins in both electricity and natural gas services.Xcel, Minnesota's biggest utility, said Thursday it earned…
TCF Bank Dinkytown Branch photo

As merger inches forward, TCF Financial holds expenses in line

The firm's short-term profit growth hinges on controlling expenses.
U.S. Bank will open 10 branches in the Charlotte, N.C., market during the next year and a half. The branches will have a new design that puts computer

U.S. Bank to open branches in Charlotte, N.C., home turf of Bank of America

North Carolina branches will be first step of planned expansion into southern U.S.
U.S. Bank over the next two years will reshape its network of 3,000 branches in 25 states with closures, remodelings and openings. When it's done, exe

U.S. Bank to trim 300 branches during network overhaul

As more people bank online, fewer locations are necessary.
Hine

Job growth has stalled in Minnesota

Minnesota is down 2,700 jobs during the first three months of the year.
U.S. Bancorp said its first-quarter profit rose 1.4%, led by higher interest income.

U.S. Bank execs confident about economy as current expansion nears record

U.S. Bancorp leaders join other financial executives who believe expansion will continue
Starting Tuesday, Bite Squad will begin deliveries of breakfast items from about 30 restaurants in the Twin Cities.

Bite Squad begins delivery of breakfast from about 30 Twin Cities restaurants

Many people get up too late or are simply too busy to make breakfast. Now, Bite Squad will cover the people who are even too…
Susan Evans, founder of Evans Larson Communications, with company leaders Elizabeth Pavlica, Paul Konrardy, Margo Hileman and Teresa McFarland.

Evans Larson PR firm pivots with expertise in Facebook

How a Minneapolis public-relations company became more like a media firm, with a particular expertise in Facebook.
Neel Kashkari, here in a 2015 file image, is president of the Federal Reserve Bank of Minneapoli.

Minneapolis Fed's Neel Kashkari still worries that megabanks need more capital safeguards

During a Twitter exchange, the Mpls. Fed leader raises the too-big-to-fail specter.
Verizon launched 5G network coverage in limited parts of Minneapolis and Chicago last week. File photo of Verizon’s display of 5G-capable smartphone

In Final Four's wake, Mpls. is left with cutting-edge 5G wireless network

Service limited to parts of downtown, megamall.
Bank of America’s new locaton in the IDS Skyway. Bank of America is planning a big expansion in the Twin Cities, the heart of Wells Fargo and U.S. B

Bank of America to beef up its branch presence in the Twin Cities

Company will add seven more in Twin Cities, where it had no branches four years ago.
Matt Matsui, Calabrio’s chief product officer

Calabrio rolls out new version of customer interaction software, pushing beyond call centers

Minneapolis company has doubled in size since 2016, plans office move.
Ameriprise Financial headquarters in Minnespolis. Star Tribune file photo

Ameriprise sells auto and home insurance business for $1.05 billion

Mpls. firm is reshaping itself, selling its home and auto insurance arm to American Family.
Actress Pooja Shah depicts a U.S. Bank customer in one of the commercials in a new campaign designed to show the bank's role in everyday life.

U.S. Bank to launch ad campaign focused on everyday banking and new app

The bank is shifting from ads that emphasized "possibilities" to those that depict outcomes.

Wells Fargo to lay off 200 from Bloomington operation it is closing

Wells Fargo notified state officials that it will eliminate about 200 jobs at an office in Bloomington from which it provides payroll services to businesses.The…
The new Bibelot-GoodThings store in Linden Hills, several doors down the street from where Bibelot used to be.

GoodThings burrows a little bit deeper into the Linden Hills area of Minneapolis

Retailer moves just-purchased Bibelot down a few doors and opens a clothing-only store.