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
Sezzle founder and chief executive Charlie Youakim

Sezzle releases first annual report, creates a new look to reach young adults

Minneapolis fintech unveils a new multicolored logo.
Tile Shop's founder and longtime CEO has stepped away from the company for a second time after new investors took control in a controversial delisting

Tile Shop founder steps away for a second time, revealing split with new owners

He led the retailer's delisting, which helped new investors take charge and is in contention.
Rick Rieder, chief investment officer for fixed income at BlackRock Inc., talked to U students last week.

BlackRock's Rieder: 2020 investing will be fine but not like 2019

Firm's top fixed-income investor believes there are not enough bonds.
Online retailer Brandless closes, laying off Mpls. workers as key investor falters

Online retailer Brandless closes, laying off Mpls. workers as key investor falters

The Minneapolis firm collapses after losses mount for key investor.
Delta painted a large "Thank you" and all of its employees' names on a plane as it distributed bonuses on Friday.

Delta's profit-sharing payout hits record $1.6B, with $130M in Minnesota

As the airline provides employees with their biggest profit-sharing, unions point out inequalities in the industry.
The parent company of Famous Dave's is buying Granite City Food and Brewery if the deal is approved by a bankruptcy judge.

Famous Dave's and Granite City are becoming corporate cousins

Famous Dave's parent firm makes its first big deal, buying ailing Granite City restaurants.
Wings Financial Credit Union is acquiring Neighborhood National Bank of Mora. Pictured is a Wings branch in Woodbury.

Wings Financial buys Mora's Neighborhood National

It's the first outright purchase of a bank by Minnesota's largest credit union.
U.S. Bank’s national reputation is low-key.

A firing at U.S. Bank casts a hot glare on the line between rules and common sense

Policies set parameters around where and how employees may interact with customers.
U.S. Bank is reviewing policies that led to the firing of two employees who went to extra lengths to help a customer on Christmas Eve.

U.S. Bank CEO reviews firings of 2 workers who helped customer

The employees helped a customer on Dec. 24 who couldn't get cash because his paycheck from a new employer was held up in a verification process that wouldn't be resolved until after the holiday.
Employee Kalid Shafi assembled a wireless transmitter on the manufacturing floor of Emerson Automation Solution in Shakopee in September.

Unemployment holds steady in Minnesota, and job growth slows to a near-stop

Retiring baby boomers leave employment gaps that are difficult to fill; education and health hiring declined.
Sezzle and California regulators settled a dispute that will allow the Minneapolis fintech firm to offer its e-commerce payment system in the state. T

Sezzle settles dispute with California regulators, returns about $300K to customers

The fintech startup's shares recovered most of the value they lost two weeks ago.
U.S. Bancorp's latest results were dented by one-time expenses but also showed the effects of 2019's three interest rate cuts on the nation's No. 5 ba

Interest rate cuts erode profit at U.S. Bank, execs signal pressure will continue

Execs dubbed the rate environment 'manageable' and expect solid growth in fee-based revenue.
The charitable trust that controls a majority of the Bremer Bank's shares argues that a sale would provide more money to fulfill its philanthropic mis

AG Ellison joins fight between Bremer Bank, charitable trust

The move adds yet another player to the battle over the future of the state's fourth-largest bank and comes just days after a group of Bremer shareholding employees filed suit to intervene in a proposed sale.

Sezzle shares plunge after California moves to regulate online installment payments

The rejection of a California financing license caused investors to flee from Sezzle shares.
An Airpix device from Minneapolis-based AirSelfie is a small drone with a camera that flies away from its user, takes some pictures and flies back.

Minnesota companies aim to impress at nation's largest tech convention

The annual Consumer Electronics Show in Las Vegas will feature Delta's CEO.
UnitedHealth Group's offices.

How a handful of Minnesota stocks tell the story of a decade

The growth of UnitedHealth Group dominated the Minnesota business scene in the 2010s and made the company’s investors immensely wealthier. The Minnetonka-based health insurance and…
Two out of three students in the first-year class at Augsburg University in Minneapolis this fall were people of color.

Life in the 2020s: Slower growth will be the new normal

The accumulated effects of previous growth rates will widen the gap between slow growers like Minnesota and fast ones like Texas and California.
Activist investor Mick McGuire closed his hedge fund, Marcato Capital, after losses. File photo of McGuire checking into the Buffalo Wild Wings annual

Activist investor who battled Buffalo Wild Wings shuts his firm

Mick McGuire had big plans for Golden Valley-based restaurant chain, but then walked away.
A construction worker, with the help of a crane, guides steel beams into place on the new Thrivent Financial building April 3, 2019, in Minneapolis. O

Minnesota shed 3,000 jobs in November, unemployment rose to 3.3%

Job growth remained ultralow for the year, while the state's jobless rate rose slightly to 3.3%.
Arthur Ventures homepage.

Arthur Ventures raises $155 million to invest in software startups

Two new funds are the biggest yet for the venture firm, which has offices in Minneapolis and Fargo.
Workers at the UNFI distribution center in Hopkins ended their walkout on Wednesday.

Walkout ends at UNFI warehouse in Hopkins, other states

Workers went on strike for two days to protest stalled contract talks at another warehouse.
File photo of trailers lined up at the loading docks at the UNFI distribution center in Hopkins. Workers went on strike at the site Tuesday.

Worker walkout could disrupt Twin Cities grocery supplies

The move is in sympathy with workers in Indiana.
The Bremer Bank branch at the IDS Center.

An outside investor jumps into the Bremer legal fracas

A new front opens in the St. Paul foundation's fight over the future of the bank it owns.
Bremer Trust trustees say the charity faces an "existential crisis" if it is unable to sell Bremer Bank.

Bremer trustees say foundation faces 'existential crisis' if bank isn't sold

The Bremer Trust, the foundation that owns Minnesota's fourth-largest bank, says it has to be sold for the foundation to meet tax law.
Charlie Youakim, founder and CEO of Sezzle.

Sezzle closes $100 million debt facility to finance online shopping over holiday season

Financial tech firm more than triples '18 capital.
Minnesota's Keith Ellison led a group of 20 state attorneys general, including four from Republican-led states, in writing a letter to the Federal Tra

Minnesota lags as sentiment builds against noncompete deals

Minnesota's first test case was with doctors. It did not get far, but sentiment is building nationwide.
The Bremer bank branch at the IDS Center. A dispute has the future of the bank at question.

At heart of the Bremer dispute, a midcentury banker's wishes and the demands of the digital age

Foundation trustees want to sell bank, but executives cry foul.
The new numbers from the state's jobs agency suggests that Minnesota's job market hasn't topped out yet and that hiring has accelerated from the snail

Minnesota added 7,400 jobs in October, the most this year

New data suggest state hasn't topped out yet.

Sezzle opens office in Toronto, taps PayPal executive to lead it

Buy-now-pay-later service upgrades its game in Canada.
Famous Dave's menu

BBQ Holdings profit sinks as Famous Dave's unit purchasing rises

The company's role in the overall ownership of the chain's locations shot upward.
A court issued a temporary injunction to review the delisting process of Plymouth-based Tile Shop. Two shareholders accuse the company's board of viol

Court puts the brakes on Tile Shop's delisting process

Judge's temporary order a victory for stockholders.
Workers at General Mills' plant in Cedar Rapids, Iowa, announced they had tentatively agreed to a new contract, forged just two days after they overwh

General Mills, workers at Cedar Rapids plant agree on a new contract

The deal came just two days after workers rejected an earlier offer from the company.
The company that in January bought Bite Squad, the Minneapolis food delivery firm, on Thursday wrote off much of that deal.

Company that bought Bite Squad signals it paid way too much

Waitr writes off the biggest deal involving a Twin Cities tech startup this decade.
Several people were laid off from Bite Squad's Minneapolis offices this week.

Waitr cuts jobs at Bite Squad's former Minneapolis HQ, consolidating operations in Louisiana

App-based food-delivery business is also bailing out of some markets.
Charlie Youakim, founder and CEO of Sezzle, said the financial technology company liked the results.

Sezzle reports big jumps in retailers, transaction volume

Sezzle Inc., the Minneapolis fintech firm that went public in Australia this summer, said Monday that from July through September it experienced the biggest jumps…
Douglas B. Petno, chief executive of commercial banking for JPMorgan Chase & Co., at the firm's Minneapolis office on Friday.

As JPMorgan Chase expands in Minnesota, exec says there's no rush to get big

For the nation's biggest bank, the plan for new states like Minnesota has a long horizon, a top executive says.
U.S. Bank will restructure staffing at its 3,000 branches over the next two months, with an unspecified number of jobs to be cut.

Job cuts coming as U.S. Bank overhauls staffing at branches

Fewer customers using brick-and-mortar locations prompt changes.
SkyWater Technology is adding a third clean room to the front of its factory in Bloomington. The area in blue is where the expansion will be built.

In Bloomington, Minnesota's biggest semiconductor plant is getting even bigger

$170M Defense Department grant will help Bloomington chipmaker pay for expansion.

U.S. Bank's website, mobile app hit by software glitch

An attempted software update went awry for a few hours at the nation's fifth-largest bank.
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.