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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

Supervalu shareholders approve new structure to assist selling off retail units

Supervalu Inc. shareholders have approved a reorganization of the food distribution firm that is designed to make it easier to sell its retail operations.The decision…

Minnesota adds 11,200 jobs in July; unemployment falls sharply for blacks, teens

May-to-July period was one of best for hiring that Minn. has seen since 1990.

At investment conference, executives discuss growth plans as fund managers contend with fee pressure

The CFA Society's annual gathering captured economic optimism and industry worry.
Golden Valley-based Buffalo Wild Wings is exploring ways to add sports betting to its chain of sports-themed restaurants. File photo of a Buffalo Wild

Buffalo Wild Wings might add sports betting to menu

Executives are exploring deals after Supreme Court opened door for betting in more states.
President Donald Trump displays the $1.5 trillion tax overhaul package he had just signed, Friday, Dec. 22, 2017, in the Oval Office of the White Hous

For Minnesota firms, tax cuts gave a boost to a robust spring, summer

Most of Minnesota's biggest companies have doubled, and in some cases more than tripled, their profit growth this year.
Karl McDonnell, right, is the CEO of the combined Strayer-Capella, and Kevin Gilligan, left, is vice chairman.

Changing competition, technology pushed Capella and Strayer together

Other for-profit educators sold because they were withering, but these firms were thriving.
Capella Education Co. and Strayer Education completed a $1.2 billion merger Wednesday.

Capella and Strayer complete merger, shares soar nearly 12 percent on strong Q2 results

Capella's new enrollment climbed at its fastest pace in eight years.
The proxy battle is over at Supervalu, clearing the way for its sale a Rhode Island-based distributor.

Activist ends board fight at Supervalu, allowing its sale to proceed

The move helps to ease uncertainty at Supervalu, allowing sale to proceed.
TCF's second-quarter results, adjusted for one-time charges, beat analysts' expectations.

TCF shares leap after strong Q2 results

Recent legal settlement dented bottom line.
An employee at Supervalu Inc. stands in part of a warehouse at a distribution center in Hopkins, Minnesota on Monday, Jan. 9, 2012. Inventories at U.S

After a gamble went wrong, Supervalu struggled for a decade

The company racked up billions in debt, and a downturn soon followed
Ameriprise Financial Inc.’s second-quarter profit jumped 18 percent, helped by the federal tax cut and continuing strong investment flows from clien

Tax cuts, investor confidence lift Q2 profit at Ameriprise

The company beat analysts' expectations as investment flows remained strong.
The Plymouth office of TCF Bank.

TCF agrees to pay $30 million to settle dispute over the way it offered overdraft protection

The bank broke no rules but acknowledged it may have confused customers.
Minnesota added 6,600 jobs in May and the state's unemployment rate held at 3.1 percent.

Minnesota adds 6,600 jobs in June, a sign of momentum after big gain in May

The state's unemployment rate held steady at 3.1 percent.
U.S. Bancorp's second-quarter profit rose 17 percent in the second quarter.

Good times are rolling at U.S. Bancorp, with just one bit of caution

Executives upbeat though also wary of anything that might signal a recession.

Kashkari raises the volume on bond-market signal fears, urges Fed to stop raising rates

Minneapolis Fed president wades deeper into debate over the bond yield curve.

Supervalu sets Aug. 16 for shareholder meeting and showdown with activist investment firm

With vote looming, firm shares details of activist investor's demands.
Starting 11 CEO Teague Orgeman, center, chatted with investor Peter Zugschwert, right, while mentor Paul Taylor caught up on fantasy soccer picks.

Minneapolis fantasy soccer app Starting 11 having marketing moment in World Cup

Minneapolis attorney Teague Orgeman recognized an opportunity in the global soccer community.
Wells Fargo is trimming a few hundred jobs in its home mortgage business as it copes with a steep drop in loan originations and refinancing.

As home mortgage demand sags, Wells Fargo cuts 130 jobs in Twin Cities

Company says falling demand for home mortgages is to blame.
President of the Federal Reserve Bank of Minneapolis Neel Kashkari (SHARI L. GROSS/Star Tribune file photo)

Immigration plays a key role in economic growth, Kashkari says

The U.S. economy needs more workers for healthy growth, the Fed chief says.
U.S. Bancorp is one of the industry’s best performers, although its efficiency ratio slipped slightly over the past year.

Minnesota financial-services firms' strategies allow them to outpace industry peers

Minnesota's biggest financial-services firms continue to outperform most of their peers around the country.
Minnesota added the most jobs in May that have been seen in any month this year. The state is not far from reaching its all-time low unemployment rate

Minnesota adds 10,200 jobs, as employers power through shortage of workers

The state is only a few thousand jobs away from its record low rate of unemployment.

British firm buys Precision, transformer maker in Brooklyn Center with long presence in Minnesota

Workers, manufacturing plant of Brooklyn Center company to stay in place.

Minnesota's Trade Office hires promoters in seven parts of the world

State raises its export and investment promotion to five countries and two regions from three previously.
Jacob Johnson, founder of Minnetonka-based Innovosource, a consulting firm that bridges corporate and university research and development efforts.

Corporate researchers look at providing 'gap funds' to university entrepreneurs and inventors

It creates more risks for corporate investors but also greater rewards.
Polaris is buying Boat Holdings, the maker of Bennington pontoons, a model shown here. The $805 million deal is the largest by value that Polaris has

Polaris enters boat industry with purchase of largest pontoon maker

The deal marks the first foray into the boating industry by Plymouth-based Polaris, which makes all-terrain vehicles, snowmobiles and motorcycles.
Blackwells Capital LLC, the activist investor seeking strategic changes at Supervalu Inc., on Tuesday nominated six outside directors to be voted on b

Activist investor nominates six executives to Supervalu's board

A battle for the direction of Supervalu will go to investors for a vote.

Merger of North Risk, Bearence illustrates changes among independent insurance dealers

Demographics and technology are changing a business that's long been dominated by small entrepreneurs.
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 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, 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 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.
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