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Evan Ramstad

Business Team Leader | Newsroom
phone: 612-673-4241
Evan Ramstad is a team leader in Business coverage.
Recent content from Evan Ramstad
Minneapolis skyline including IDS Center, Foshay Tower, Capella Tower, Ameriprise Financial Center, Campbell Mithun Tower, AT&T Tower, 33 South Sixth.

WeWork, Beta.MN team on free-workspace project for Twin Cities startups

WeWork is announcing an initiative with Beta.MN, a nonprofit organization that promotes and supports local tech firms.
Polaris' rising fortunes have earned it a spot on the Fortune 500.

Minnesota has two more firms on Fortune 500 list

Securian Financial and Polaris rise on the magazine's annual ranking of U.S. companies by revenue.
Hiring in Minnesota has slipped sharply over the past year, in part because the labor market is so tight.

Minnesota's employers, with fewer people to hire, are hiring fewer

Hiring in state slowed sharply this year amid tight supply of workers.

Engineering firm with roots in General Mills sold to investment group

The deal puts the Eden Prairie-based Logic PD in a group of other service providers to big manufacturers.
President Donald Trump shows off the tax bill after signing it in the Oval Office of the White House, Friday, Dec. 22, 2017, in Washington.

Businesses start to reap tax savings from new law, but find far more uncertainty

Beyond the numbers from big public companies, accountants and lawyers say the new law will have even more profound effects on smaller firms.

Economists at Minneapolis Fed meeting explore persistent racial gaps in hiring, wealth

Researcher says efforts to eliminate employer biases may be backfiring.
TCF's first quarter profit rose sharply, boosted by higher interest rates and a lower tax rate.

TCF profit rises sharply, stock jumps 7 percent to highest level since 2007

Higher interest rates and lower taxes, shift away from auto lending all give a lift to TCF.
Minnesota's job market remains exceptionally tight with a shortage of workers now slowing down the pace of hiring.

Minnesota added 2,900 jobs in March as hiring slowdown continues

With unemployment at 3.2 percent, the state's employers are constrained for workers.
U.S. Bancorp reported a 13 percent jump in first quarter profit but its stock fell as investors fretted over the company's expense growth.

U.S. Bank's profit rises, but investors fret about spending growth

Quarter profits saw a 13 percent increase, but stock prices fell a bit over spending anxiety.
Inspire Brands, the new owner of Buffalo Wild Wings, will cut 132 jobs at the Wings corporate office in Golden Valley starting in May.

New owner will cut 132 jobs at Buffalo Wild Wings corporate office

Inspire Brands Inc. will cut 132 jobs at Buffalo Wild Wings' corporate office in Golden Valley starting in May, the company told state economic officials Wednesday.

Latest sign of Minnesota's tight job market: Vacancy rate climbs 16 percent

The twice-yearly report showed slightly fewer openings for part-time work.
Minneapolis for many years has ranked higher on the Economist survey than some other big cities, including San Francisco and Washington, D.C., that ar

Long winters, long commutes drive up Twin Cities living costs, Economist survey finds

The exclusion of housing costs, which are lower here than other big U.S. cities, makes a difference, too.
General Mills sales grew over the winter months but ingredient and shipping costs weighed on its profitability.

General Mills delivers on product ideas, but faces new pressure getting goods delivered

Sales were up after struggling recently, but higher expenses squeezed earnings significantly.
The Minneapolis City skyline including City Hall seen from U.S. District Court.

Report calling Minneapolis third-most expensive U.S. city leaves out house prices

The Economist magazine says only New York and Los Angeles are more expensive.

Confidence is high among U.S. investors, Ameriprise study finds

People with savings and investments are feeling less financial stress.
FILE- In this March 7, 2012 file photo, Illinois gun owners and supporters file out National Rifle Association applications while participating in an

Securian Financial halts insurance marketing to NRA members

The St. Paul company joins a growing list of businesses to cut ties since the Feb. 14 Parkland, Fla., mass shooting.
The logo for General Mills appears above a trading post on the floor of the New York Stock Exchange, Friday, Feb. 23, 2018. General Mills agreed to bu

General Mills heads back to pet aisle with $8 billion purchase of Blue Buffalo

After Pillsbury, it's the second-biggest deal General Mills has ever made.
Bonnie Raquet has been named chairwoman of Thrivent Financial Inc.'s board of directors.

Thrivent board elects Bonnie Raquet to become its first chairwoman

Former Cargill executive becomes first woman to lead Thrivent's board.
Paul Brown, chief executive of Inspire Brands Inc., the new parent of Golden Valley-based Buffalo Wild Wings.

First task at Buffalo Wild Wings, new leader says, is to not mess it up

Inspire CEO Paul Brown says Buffalo Wild Wings will remain distinct from Arby's.
The last shift of Crew 52, the official volunteer group of the Minnesota Super Bowl Host Committee, watched the first half of the game together on Sun

What it was like being a Crew 52 volunteer for the Super Bowl

Our reporter tells all on being Minnesota Nice in the skyways.
The Minneapolis parent of U.S. Bank bought naming rights to the new downtown football stadium in 2015, about a year before it was completed.

Super moment arrives for U.S. Bank's marketing efforts

Its stadium name is the base for U.S. Bank's marketing push
The Southdale location of Buffalo Wild Wings has its regulars.] Arby's is taking over Buffalo Wild Wings. Richard Tsong-Taatarii/rtsong-taatarii@start

Buffalo Wild Wings shareholders approve sale to Arby's

The $2.9B deal will close on Monday or Tuesday.
Tanya Lorenzano stood with her son Landen, 4, and father-in-law Francisco as they posed for a photo with the Vince Lombardi Trophy at the NFL's Super

Super Bowl LII will bring in a lot of money 'fast and furiously'

Estimates of the economic impact — money that is added to the region that wouldn't be here otherwise — range from $220 million to $340 million.
A skyway walker couldn't resist touching the Super Bowl football banner over Nicollet Mall.

Marketers lure Super Bowl fans with Nicollet Mall truck tower, Mississippi zipline

It looks like business jargon, but marketers say 'activation' has meaning.
Ameriprise Financial headquarters in Minneapolis.

New tax law takes a bite from Ameriprise's bottom line

But the Minneapolis investment management firm expects ongoing savings from a lower tax rate.
The Twin Cities did not make the first cut in Amazon.com Inc.'s list of regions where it might locate a second headquarters. File photo of Amazon’s

Why did Twin Cities miss out on first cut for 2nd Amazon HQ?

Minneapolis-St. Paul was one of 238 that tried to become the second home for the retail giant. Amazon said it expects to make a final selection later this year.
U.S. Bancorp's profit was helped by the new federal tax law.

U.S. Bancorp executives foresee bigger profits in 2018 after its tax rate drops to 21.5 percent

The company ended 2017 with record profit, as the tax break offset a legal settlement in the fourth quarter.
“I’ve started asking people, `When is the last time it wasn’t like this?’ The most common answer I get is 2009 or 2010, plenty of labor,” sa

Ultratight labor market in Minn. driven by jump in low-wage jobs

Minnesota employers that depend on low-wage hires are near a breaking point. Economists are watching Minnesota for signs of whether inflation has to kick in for businesses to raise wages that will attract more workers.
Minneapolis Fed Bank president Neel Kashkari, shown in a 2016 file photo at one of the conferences the bank held on the risk taxpayers face from banks

Minneapolis Fed solidifies plan to reduce taxpayers' risk from megabank failure

A key recommendation is that biggest banks must improve their capital positions.

Giants in our midst: UnitedHealth, 3M played enormous role in rise of benchmark stock index this year

In a great year for stocks, Minnesota's two most valuable companies played outsized roles in driving the nation's best-known market barometer higher.UnitedHealth Group and 3M…
Summit Brewing Co. experienced its first job reduction in its 32-year history this week. File photo of the company's 30-year anniversary beer.

As competition mounts, Summit Brewing makes its first layoffs

The St. Paul brewer laid off about a dozen people just after Christmas, or about 10 percent of its staff.
Buffalo Wild Wings chief executive Sally Smith will be staying with the company through the completion of its sale.

Buffalo Wild Wings CEO outflanked activist investor to set up company's sale

For months, it appeared Sally Smith was leaving Buffalo Wild Wings under duress. Not so.
“These are like intellectual wrestling matches … I learn a tremendous amount.”
Minneapolis Fed chief Neel Kashkari on preparing with researchers

Intense research and debate shape Minneapolis Fed President Neel Kashkari's dovish take on rate hikes

Eager for more transparency, the Fed leader describes what is behind his rate decisions.
When the 747s needed some mechanical work in 1970, they didn’t quite fit inside the hangar.

Delta's 747s, a vestige of Northwest's heyday, will visit for final time

After 16 years as a captain on Northwest Airlines 747s, Steve Bowen retired in 2005 and has since flown to many places around the world…
A 7 percent jump in North America sales of cereals helped General Mills to its first quarter of revenue growth in more than two years.

Helped by peanut butter and some other product surprises, General Mills sees first sales gain since 2015

New product launches helped the company produce its first quarterly increase since 2015.
Minneapolis Fed President Neel Kashkari jumped into the debate on the importance of the flattening yield curve in the bond market, saying it is anothe

Kashkari, explaining latest vote against higher rates, joins debate on recession risk signals

In resisting rate increases throughout the year, Kashkari expressed worry that the U.S. job market is not as strong as the unemployment rate suggests.
PNC will open a handful of branches in the Twin Cities as part of a plan to launch a national digital retail bank.

PNC will open some bank branches in Twin Cities

The Pittsburgh-based bank will focus chiefly on corporate customers.
Bartender Lynea Vance has worked for Buffalo Wild Wings for two years and enjoys interacting with customers.

Arby's buying Buffalo Wild Wings in $2.9 billion deal

Golden Valley-based chain is sold to the owner of Arby's.
Katie Simpson, Bank of America’s Minnesota president, said her company has to build the trust of Minnesotans before it can gain traction in the mark

Big banks target Twin Cities in a small way, for now

Bank of America, PNC are taking a gradual approach to growth in the Twin Cities.
Al Alcorn created the first Atari video games, which spawned a competitive gaming culture that included this 1981 tournament for the game Asteroids.

New book reminds readers that in Silicon Valley, tension helps drives innovation

Leslie Berlin's 'Troublemakers' portrays the rise of PCs, video games, venture capital and biotech in the 1970s and 1980s.

Minn. unemployment hits 17-year low, but job growth is slowing

Minnesota's unemployment rate is 3.3 percent, but figures show job growth has slowed.
FILE -- Large spheres in front of Amazon's building in Seattle, Sept. 27, 2017. Amazon said in October it had received proposals from 238 cities and r

Outsiders call Twin Cities a 'long shot' to attract Amazon's HQ2

The latest to handicap and dismiss the Twin Cities is the Wall Street Journal.
Buffalo Wild Wings has received a takeover offer from Roark Capital, the owner of Arby's and Hardee's, the Wall Street Journal reported.

Buffalo Wild Wings gets takeover offer from Roark, report says

Offer comes five months after activist investor won strategic control.
CEO Adam Lerner took a risk on a “very mature” young adult novel, which has now been named a National Book Award finalist.

For family-owned Lerner Publishing, accolades and internal change mark a watershed year

Founder Harry Lerner created an education book juggernaut. Son Adam is turning it into something more.
Tesla Motors Inc. is buying Perbix, a maker of factory automation equipment based in Brooklyn Park. The automaker said it plans to keep and expand the

Tesla buys Brooklyn Park firm, plans expanded metro recruiting

Perbix has been working with Tesla for three years to design the automaker's factory lines. The company says it plans to keep the facility in Brooklyn Park.
Tom Fallenstein, chief executive of Halloweencostumes.com, a Mankato-based online retailer, says the immediate days after the holiday are when staffer

For Minn. costume-selling giant, November is the time to catch up on sleep

Mankato-based HalloweenCostumes.com grapples with an extreme form of retail seasonality.
Capella Education Co., parent of Capella University, is merging with Strayer Education Co. in a deal that values it at around $940 million.

Capella, online education specialist, merging with business school operator

The two for-profit educators will keep operations separate
Richard Rothstein, analyst at the Economic Policy Institute in Washington and author of "The Color of Law," spoke at the Federal Reserve Bank of Minne

Tackling income gaps means confronting U.S.-sanctioned segregation, author tells Minneapolis Fed audience

The role of old government policies on today's economic disparities is overlooked, writer Richard Rothstein says.
Buffalo Wild Wings latest results were shaped by soaring costs of chicken wings.

Oct. 25: Buffalo Wild Wings surprises investors with better-than-expected profit

Guidance raised as decline not as bad as expected; stock rises after hours.
Cracchiolo

Ameriprise profit leaps on surge of investing, market gains

The company's adjusted profit beat analysts' expectations for the July-to-September period.
Jeff Bezos, a former hedge fund investor, started Amazon in 1995 as a way into the world of internet retailing. He first offered books from a small wa

Amazon is growing faster than any big U.S. company maybe ever

The online retailer is morphing into data systems, logistics and media. One constraint: Getting enough people.

Minnesota adds 6,400 jobs in September, with broader patterns holding steady

Minnesota is adding jobs faster than the nation as a whole, and the metro area outpaces the state overall.
Late afternoon light cut between buildings illuminating the US Bank flag as it blew in the wind outside the US Bank Building Wednesday in downtown Min

Higher interest rates, loan growth drive U.S. Bancorp's profit up, but not enough for some investors

Executives were upbeat about the broad economy heading into 2018.

Vista Equity buys controlling stake in Mpls. tech firm Jamf

A Texas technology investment firm bought a controlling stake in Jamf, a Minneapolis-based provider of management tools for Apple products, the companies said Wednesday.
"Either do it or shut," Sen. Heidi Heitkamp, D-N.D., said about tax reform Tuesday at a conference hosted by the Federal Reserve Bank of Minneapolis.

Pass tax reform or move on, N.D. senator says at Minneapolis Fed conference

N.D. senator tells Fed conference uncertainty is delaying investments.
More of the openings in Minnesota in the first half of 2017 were for part-time or temporary work and a smaller percentage required a college education

Another indicator of Minnesota's tight job scene: Job vacancies rise sharply in first half of year

Semiannual state survey finds unfilled positions exceed number of unemployed.
Minneapolis Fed President Neel Kashkari says the Fed's policy-making Open Market Committee should focus on raising inflation and hold off on further i

Kashkari says Fed may have contributed to low inflation expectations

He praised Yellen for raising the issue but asks for no more rate hikes.
Delta Air Lines is returning to a single profit-sharing system for all employees, two years after creating a separate one for non-pilot workers.

Delta changes its employee bonus plan as a boost for nonpilots

The company two years ago created a separate profit-sharing scheme for nonpilot workers.
Freshii will close its outlets at 18 Target stores, including this one on New Brighton Boulevard in Minneapolis.

Freshii exits Target, ending 2-year trial that didn't work out

Freshii Inc., a salads and wraps restaurant chain, is closing the 18 locations that it opened in Target Corp. stores over the last two years, including one in Minneapolis.
Passengers are growing happier with Minneapolis-St. Paul International Airport, which climbed to #6 in a market survey of performance by the nation's

MSP climbs into top 10 'mega airports' in ranking of passenger satisfaction

That's up from 17th a year ago and well above the average satisfaction rating, a market research firm found.
General Mills will add chocolate peanut butter Cheerios to its permanent lineup of flavors for its flagship cereal next month. The company now has 15

Chocolate peanut butter Cheerios, fast start for Oui yogurt, new ads should lift General Mills, execs say

But General Mills missed the profit expectations of investment analysts, and the company's stock fell 5.8 percent.
Brad Konik will lead the merged Konik PrimeStaff firm.

George Konik acquires PrimeStaff, uniting two Twin Cities specialists in technical hiring

The merged company will be called Konik PrimeStaff.

Minnesota employers lost momentum this summer, though job growth still outpaces U.S.

Despite the monthly job drop, and a downward revision to the July jobs total, the state's year over year job growth continues to edge the nation's.
Target Corp. and Best Buy Co. have emerged as complicating factors in Minnesota’s effort to attract Amazon Inc.’s second headquarters.

Dayton's call for 'restrained' bid for Amazon HQ draws protests

Some Twin Cities tech leaders say the state's economic future shouldn't be handcuffed by homegrown companies Target and Best Buy.
Cargill Inc. is selling its U.S. metals business to Metal One Corp. of Japan.

Cargill sells U.S. metals business to Japan's Metal One

It's the latest divestiture as company narrows its focus to agriculture, food.
At H.B. Fuller’s research facility in Vadnais Heights, engineer Luke Maistrovich showed how innovative packaging glues improve carton strength and q

H.B. Fuller buys Royal Adhesives for $1.6 billion

It's the biggest deal H.B. Fuller has ever made, boosting its reach with industrial customers.

C.H. Robinson buys Milgram, a Canadian freight firm, for about $50 million

The deal is the newest step in C.H. Robinson's international expansion.
Amid a shakeup in the hog business that Hormel executives call "unprecedented" and that hurt its latest profit, the company is expanding a Kansas plan

Hormel signals higher prices for bacon amid soaring demand

Hormel's latest profit was squeezed as commodity prices rose more quickly than it could pass them on.

Minnesota's employment scene accelerates with 7,700 jobs added in July

Minnesota employers added 7,700 jobs in July, faster than the average rate over the past year and above the national growth rate for the second…
Hormel is spending $425 million to purchase Fontanini, a Chicago-based maker of Italian meats for restaurants.

Hormel buys Fontanini, Chicago-based maker of Italian meats, for $425 million

Fontanini grew from a single store into national pizza restaurant supplier.
Clay Collins, co-founder of Leadpages, is handing over his CEO responsibilities to the company's chief operating officer, John Tedesco.

Turning a page: Leadpages co-founder Collins taps his own CEO successor

Leadpages co-founder Clay Collins will hand his job as chief executive to John Tedesco, a veteran of the Twin Cities tech scene who has served…
Buffalo Wild Wings reported a sharp drop in profit during the April-to-June period and lowered its outlook for the rest of the year.

Buffalo Wild Wings to end Tuesday wings specials

Slipping profits and high wing costs mean an end in the next few weeks for the discounts, in place for 30 years.
CEO Jim Cracchiolo said, “Clients are putting their money to work.”

Ameriprise profit soars as rising stock market attracted investors

The clients of its financial advisers poured money into the market this spring.
TCF benefited from higher interest rates and a restructuring of its auto finance business during the second quarter.

TCF beats expectations with a nearly 5 percent jump in Q2 profit

Executives give an upbeat outlook, say changes to auto-finance strategy are paying off.

Minnesota adds 4,400 jobs in June; unemployment holds steady at 3.7 percent

The added jobs came at a slower-than-average pace over the past year but a partial recovery from a drop-off in May.
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