Recent content from Patrick Kennedy
Next C.H. Robinson CEO says technology is transforming freight business
Bob Biesterfeld faces a number of challenges brought about by technological changes in the trucking and shipping industry, including increased digital competition.
Sleep Number more than doubles earnings per share in fourth quarter
The results, which were released after the markets closed Wednesday, had Sleep Number shares up more than 10 percent in aftermarket trading.
Eden Prairie-based C.H. Robinson names new CEO
Bob Biesterfeld, now the COO, will be taking over for John Wiehoff in May.
Market for big mergers slumps in 2018 as action shifts to small firms
High-profile deals slumped in 2018, but overall volume held firm.
CEO Pay Watch: Toro's Richard Olson
Richard Olson, The Toro Co. chairman, president, CEO Total compensation: $2,829,831 for the year ended Oct. 31 Salary: $875,000 Non-equity incentive pay: $918,803 Other compensation:…
Minnesota investment star Proto Labs stumbles; shares fall 22% after profit miss
An acquisition proved disappointing and an equipment move dampened efficiency at the end of 2018.
Old National laying off 83 Minnesota workers after Klein merger
The Indiana-based bank notified the state of the move as it integrates Klein into its network.
Minnesotans take advantage of the thaw to get outdoors
The window was short as fog moved in and the next few days are expected to be a mixed bag of weather.
With a successful Indiegogo campaign, Minneapolis company launching new pedal-driven kayak
Stuart Lee used one of the largest Indiegogo campaigns in Minnesota to fund his firm's Strike kayak
Volatile stock market presented challenges for Minneapolis-based Ameriprise
While the company met expectations, net revenue was nearly flat.
Pentair's earnings are better than expected
The company completed its first year as a stand-alone water company.
Road to TCF-Chemical Financial merger began in 2015
TCF, Chemical officials have been keeping an eye on each other since 2015
TCF merges with Detroit bank Chemical Financial
The merger of equals transaction will create a financial services company with $34 billion in total and 500 branches across nine states, primarily in the Midwest. The HQ will be in Detroit.
Entrepreneurs Dana House, Cynthia House were devoted to service
In 50 years of marriage, Dana and Cynthia (Walstrom) House built a family, started businesses and gave selflessly to others both locally and internationally. Former…
Minneapolis-based Sleep Number betting big on its 'innovative' NFL partnership
The cornerstone of the agreement was a plan to give the new 360 Smart Beds to all eligible players in the league in 2018.
Bell Bank's parent company sells Fargo-based sister company for $425 million
Wex Inc. to buy Fargo-based Discovery Benefits for $425 million.
Winona-based Fastenal's focus on placing sales sites in factories translates to earnings growth
Earnings grew 11 percent during the company's Q4.
Baker Tilly acquiring St. Paul-based Springsted Inc.
The deal aims to build one of the largest municipal finance advisory firms in the United States.
Volatile 2018 ends on down note for majority of Minnesota's big firms
Among 72 major public firms, only 32 saw positive returns last year.
President of Eden Prairie-based Evine shopping network resigns
Anne Martin-Vachon had been with the shopping network for four months.
One relationship piece between the stock market and interest rates explained
Low interest rates led to quantitative easing, which meant more capital was released to the markets.
Investors Roundtable: Volatile markets cause optimism to wane
The stock market continued its volatile ride in the last week of the year, with some of the widest swings ever seen. When the Star…
Casino industry veteran Lyle Berman bets on esports gaming
Lyle Berman is using a special-purpose acquisition company to get into the esports gaming industry.
Mary Ann Fath, known at St. Catherine University as 'Sister John Deere,' dies at 84
Mary Ann Fath, a member of the Sisters of St. Joseph of Carondelet, spent 44 years working for St. Catherine University — 40 of them…
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Minnesota's 100 largest nonprofits by revenue and CEO pay
Mayo Clinic's top boss made $3.2M; see where other nonprofit leaders landed on our annual list.
Ecolab Foundation giving $5 million to University of Minnesota for sustainability programs
Will fund sustainability research, scholarships and a new conference series.
Toro's fourth-quarter results hit by tariffs, inflation
Company still ended fiscal year with record earnings.
Bloomington-based Donaldson Co. sets pace for record year but still faces gross margin pressure
Firm facing pressure on slightly down gross margin.
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.
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