Recent content from Patrick Kennedy
Securian, Allianz fund accelerator program for insurance technology startups
The program is the latest accelerator in the Twin Cities and will be run by Gener8tor.
DiaMedica Therapeutics in Plymouth files for additional stock offering
A Plymouth biopharmaceutical company, DiaMedica Therapeutics Inc., is proposing a stock offering to raise $15 million for the development and commercialization of a new drug…
Bloomington-based software company MatrixCare to be acquired for $750 million
Bloomington-based MatrixCare will operate as stand-alone unit after sale.
Eight Mattress Firm stores in Minnesota to close as part of Chapter 11 bankruptcy
Eight of more than 30 Mattress Firm stores in Minnesota will close as a result of the company's Chapter 11 bankruptcy proceedings.
Tennant reports strong third-quarter earnings
Despite sales slowing in Europe and higher freight and raw-material costs, Tennant Co. raised its financial outlook for the remainder of the year after reporting…
Ameriprise beats estimates for third quarter
The company's earnings were down, but remained within expectations.
Pentair beats third-quarter estimates
Pentair, still adjusting from the spring spinoff of its electric enclosures business, saw core revenue growth in its three operating segments.
Wealthy families making a difference with investments in Minnesota companies
Wealthy families displace private-equity firms by banking on the long term, like with St. Paul's Augeo.
SuperAmerica is becoming Speedway, and card holders need to take action
SuperAmerica rewards customers will have to transfer to a new customer loyalty program.
Strong manufacturing economy helps Fastenal's earnings
As production at factories and construction sites has picked up to levels not seen in years, the need for supplies from Fastenal has increased, producing…
Perforce acquiring software-testing firm in $200 million deal
It is the fifth and largest acquisition for the Minneapolis company.
Mattress Firm to close stores, including one in Willmar, as part of bankruptcy
The Houston-based company filed for Chapter 11 bankruptcy.
Mark Olson, bank executive and Federal Reserve Board member, dies at 75
Mark Olson brought rural banking values to prominent public-sector positions in Washington, D.C., leading to appointments on the Federal Reserve Board of Governors and a…
State Farm to lay off 88 workers in Mendota Heights
Mendota Heights claims center is closing, part of a streamlining of operations nationally for the insurer.
From a new home, Sleep Number rolls out new product line
The company emphasizes technology in its bed and brand awareness in its downtown Minneapolis offices.
Fuller reports sales, profits up after big acquisition
Fuller's acquisitions helped its Q3 earnings to increase 50%, still missed analysts' expectations.
Incentives firm Augeo sells Augeo FI division to investor for $140 million
Augeo, a St. Paul-based provider of consumer and employee loyalty programs, sold a division that serves the financial services industry for $140 million. The unit,…
Donaldson Co.'s 2016 upgrade made new global, e-commerce system possible
At Donaldson, a tricky companywide system upgrade in 2016 made a new e-commerce system possible this year.
Regis cuts as many as 75 workers at Edina headquarters
Edina-based company is restructuring to improve profits.
CEO Pay Watch: Bio-Techne's Charles Kummeth made $4.75 million last fiscal year
Kummeth, who became CEO of the Minneapolis-based company in 2013, took home $4.75 million, a 78 percent increase over the previous year.
Donaldson buys stake in U.K. company
Bloomington company to pay about $103 million for BOFA International.
Donaldson records strong fourth quarter across segments
Bloomington-based company recorded sales of $2.7 billion in fiscal year.
Better weather this summer was good news for Toro
Homeowners bought more lawn mowers, both walking power mowers and zero-turn riding mowers, from Toro this summer after a long, wet spring dampened their sales…
Regis restructuring results in more profitable quarter
The Edina-based hair salon company is now a leaner company.
CEO Pay Watch: General Mills' Jeff Harmening made $4.1 million in fiscal 2018
Harmening got an increase to his base salary to $1.2 million that accounts for his new role as CEO.
Rich Wasielewski to retire as CEO of electronics maker Nortech Systems
The announcement came as Nortech reported its best quarterly profit in seven years.
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.
Nonprofit plugs Twin Cities teens into Silicon Valley tech
Silicon North Stars introduces students to career possibilities.
C.H. Robinson expects freight market to remain strong through end of year
Company expects freight market to remain strong.
Toro's Outcross a new type of vehicle for turf professionals
Long an idea in the works, Toro's "super-utility" vehicle for turf professionals goes into official production in August.
Here's what the Supervalu sale means to Minnesota's corporate bragging rights
If Supervalu leaves, the state will have 17 firms on the Fortune 500 list.
Sleep Number ready to leverage full lineup of 360 Smart Beds
The company is looking to add 40 new stores in the second half of the year, CEO also says.
Tennant reports strong growth in second quarter
Tennant Co. announced progress in its integration of the Italian firm it acquired last year and said organic sales growth across its geographic regions contributed…
Retiree from Edina schools was pioneer in adaptive sports
Marie Moilanen was a swimmer, runner, golfer, tennis player, kayaker and paddleboarder. Her friends and family say she enjoyed participating in sports — and helping others be physically active, too.
New CEO pay ratio rule offers narrow view into executive compensation
The rule does not offer apples-to-apples comparison.
Fastenal stock has big day on strong earnings report
On a down market day, Fastenal on Wednesday saw its stock rise 10 percent after reporting double-digit sales and earnings growth. CEO Dan Florness told…
Post cereal CEO Chris Neugent promoted to corporate executive position
Neugent joined Post after it bought MOM Brands; Howard Friedman will become CEO of Lakeville-based business from Kraft-Heinz.
Stocks slow in wake of big 2017 gains and economic drags on the horizon
The robust hikes of a year ago are fading in the rearview mirror, but market watchers remain measured about the volatility of the next few months
Apogee posts strong first quarter thanks to country's construction boom
National construction spike pushed sales up 24 percent in the first quarter.
Patterson has good stock day after meeting Q4 expectations
New CEO expects to "return to profit growth" in second half of FY 2019.
Old National Bancorp moves to acquire Twin Cities-based Klein Financial for $434 million
Old National to add 2nd Twin Cities community bank in $434M deal.
Teamwork makes for happier employees — and a better bottom line
Midsize business leaders say fostering camaraderie and common purpose is essential to their companies' success.
MidCountry Bank acquired by local investors
Local investors have acquired Bloomington-based MidCountry Bank from a bank holding company in Macon, Ga.The seller, MidCountry Financial Corp., also owns consumer-banking operation Pioneer Services,…
Microsoft acquires Minneapolis tech firm Flipgrid
Video-sharing platform already serves educators, students in 180 nations.
Companies come, companies go. Do headquarters still matter?
The region's strength may lie in the wide variety of Twin Cities firms
Supervalu plans a corporate restructuring into a holding company
Company officials say the move would both boost its wholesale business and shareholder value.
CEO Pay Watch: Supervalu's Mark Gross made $2.83 million last fiscal year
Mark Gross, Supervalu Inc. president and CEO Total compensation: $2,830,334 for the year ended Feb. 24, 2018 Salary: $1,126,923 Nonequity incentive pay: $1,676,854 Other compensation:…
RV company Winnebago buying boat maker Chris-Craft
RV company acquires boat maker in an effort to diversify its portfolio.
Firm behind World's Fair bid finds new venture in global health conference
The group behind a failed bid to hold the 2023 World’s Fair in Bloomington has joined with the Medical Alley Association for a new venture.…
Once-fired Michael Reger returns as CEO of Northern Oil and Gas
New board leadership shakes up company's executive team.
Late winter storms ding Toro sales of residential lawn mowers
One of the coldest Aprils in 20 years slowed sales of Toro Co.'s lawn mowers for residential users in North America and Europe.Yet sales to…
Minneapolis-based Frwd to be acquired by Bain & Co.
Frwd joins Bain's digital practice and will remain in Minneapolis.
Westen Anderson, who loved the funeral industry and the American Swedish Institute, dies at 81
A second-generation mortician, he took over his father's funeral home, Henry W. Anderson Mortuary, when his father died in 1967. Westen Anderson was in his early 30s then and stayed active in the business until recently.
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.
Sleep Number's board of directors now majority female
Sleep Number is one of only 12 companies on the Russell 3000 with a majority female board.
Blackbaud Inc. buys Reeher LLC for $43 million
The St. Paul company should be able to accelerate growth by becoming part of Blackbaud, CEO says.
After leading Deluxe Corp.'s digital transformation, CEO Lee Schram is retiring
After 12 years leading a transformation from paper to a digital market, Schram will stay until the board finds his successor.
Investors rebuke Ameriprise over executive compensation
About three-fourths of the company's shareholders rejected its latest payout to top executives.
Ceridian's initial public offering of stock is Minnesota's largest
The Bloomington company priced its initial public offering at $22 per share, which could result in proceeds that exceed $580 million by the end of the day.
Tennant's first-quarter revenue up 42.8 percent
Tennant is off to a strong start to fiscal-year 2018, with first-quarter revenue up 42.8 percent.The Golden Valley-based manufacturer of industrial cleaning equipment on Monday…
Ameriprise reports strong first-quarter results and increases quarterly dividend.
Mpls.-based company cited adjusted earnings of $3.70 per share.
CEO Pay Watch: Stephen Hemsley, UnitedHealth Group executive chairman
The company's long-term success has also made Hemsley, who retired as CEO in September, a wealthy man.
Sleep Number misses first-quarter expectations
The company, though, says it remains on track to meet 2018 earnings goals.
A look at other big snowstorms to hit Twin Cities
Snowfall numbers won't be in till Sunday, but here's a look at snow depths from other big storms.
CEO Pay Watch: Sleep Number's Shelly Ibach made nearly $4.2 million last year
Ibach's pay more than doubled in a year that saw a major product launch, corporate name change and move to a new headquarters.
Fastenal's stock drops despite good first-quarter report
Shares of Fastenal sank 6.2 percent Wednesday after the release of the company’s first-quarter results. The Winona-based company met Wall Street expectations, reporting a 13.2…
Bloomington software firm Connexeo receives $110 million in equity funding
The Bloomington-based software firm wants to alter image, expand offerings.
Local investment analysts see 'clouds forming on horizon'
Market's fundamentals undercut by trade-war discussions, tech cool-off.
CEO Pay Watch: Xcel Energy's Benjamin Fowke made $17.3 million last year
His compensation was less than in 2016 because earned less from restricted stock awards.
Digi International will eliminate 60 positions
Digi International, the Minnetonka-based provider of internet of things connectivity products for business, will cut 10 percent of its workforce as it shifts work done in its Eden Prairie plant to contract manufacturers.
H.B. Fuller's first-quarter sales jump 42 percent after acquisition
The Royal Adhesives addition also allowed cost savings as the two companies integrate.
SPS Commerce adds directors as part of agreement with activist investor group
SPS, which provides cloud-based supply chain software and analytics, increased the size of its board from seven to 10 directors.
Toro buys Indiana company L.T. Rich Products
The move is to expand offerings to landscape and grounds professionals.
CEO Pay Watch: Ameriprise's James Cracchiolo made $60.6 million last year
His $41 million realized from previously issued stock options fueled a 300 percent increase in his compensation.
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