Recent content from Patrick Kennedy
Minneapolis-based Sleep Number to refresh smart-bed lineup in 2020
Sleep Number's smart-bed lineup will get a refresh in the second half of 2020.CEO Shelly Ibach told analysts during the company's earnings call that while…
Six months after Irwin Jacobs' death, his fishing tournament firm is sold
Major League Fishing buys late Minnesota businessman's Fishing League Worldwide.
CEO Pay Watch: Donaldson's Tod Carpenter earned almost $9M last fiscal year
While Carpenter's bonus was less, his stock awards are worth more than previous year.
Minneapolis digital firm GoKart Labs acquired
West Monroe Partners, which already has 60 local employees, will combine the two operations in new space.
New Deluxe CEO focuses on solidifying shift away from legacy check business
Shoreview-based Deluxe has been known for paper checks, but continues to grow its suite of services.
Former CEO of Papa Murphy's pizza will now lead Snap Fitness
Onetime Papa Murphy's executive named new leader of Lift Brands, which owns Snap.
St. Paul's H.B. Fuller to realign business units to respond to customers more quickly
The reorganization was announced along with third quarter results in which sales were down.
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.
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.
Eden Prairie's C.H. Robinson pledges to spend $1B over five years on technology
The Eden Prairie-based company invested $1 billion in technology over the previous 10 years, so this doubles the company's investment pace.
Winnebago Industries to buy luxury RV maker for $344M
Winnebago, which is based in Forest City, Iowa, but managed out of Eden Prairie, is expanding its portfolio of premium recreational vehicles by acquiring Newmar Corp., based in Indiana.
Sleep Number's Melissa Barra: Diversity important to bake into corporate culture
Melissa Barra was named one of the 50 most powerful Latinas in business by the Association for Latino Professionals for America. As Sleep Number’s senior…
Bloomington-based Donaldson expects 'uneven' demand for its filters because of trade uncertainty
Filtration giant boosts R&D to increase profit margins as buyers grow more cautious.
Two Twin Cities employee engagement companies merging to form $350M firm
Augeo acquires MotivAction as companies are looking more broadly at their missions.
One of Minnesota's largest private firms to be acquired for $2.9 billion
New Brighton-based company will be publicly traded when J2 Acquisition Ltd. takes over.
Now that Mendota Heights' Patterson Cos. saw earnings increase, sales are down
Supplier of veterinary and dental products is working a 3-year plan.
Edina-based Regis selling rest of company-owned salons
Edina-based company plans to sell almost all its remaining corporate-owned stores.
Minneapolis-based SPS Commerce buys longtime business partner for $11.5 million
"As far as deals go, it was one of the easier to do just because we knew the people so well and they knew us," SPS's Archie Black said of purchasing the Mapadoc EDI division.
Merrill Corp., once a specialized printing company, is now centered on M&A software
It has divested its legacy printing companies to invest in the faster-growing suite of M&A data services.
Toro's quarterly sales up nearly 30% thanks to its largest-ever acquisition
Acquisition of Charles Machine Works brands helped drive the increase.
By the numbers: Target's exceptional day on the market
Target's investors have never had a day like Wednesday.
Grand Forks banking company, with large Twin Cities presence, files for IPO
Financial-services company is raising money to accelerate expansion, add acquisitions.
CEO pay in last four decades grew 940.3% while average worker's increased 11.9%
Over the same time period, the pay of an average worker has increased 11.9%.
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.
CEO: Keeping growth momentum biggest challenge in TCF-Chemical merger
Now that the merger is completed, CEO Craig Dahl says combining two successful operations without slowing progress is key.
John Greenman, World War II bomber pilot who got Northwestern National Bank back up after massive fire, dies at 96
By the Monday morning after the big 1982 blaze, Greenman had found an office for everybody in the bank building.
C.H. Robinson expects 'soft' freight market for rest of year
Amid softer demand for its transportation services, Eden Prairie-based C.H. Robinson reported an 8% increase in its second-quarter earnings per share.The third-party logistics firm earned…
M&A deals just keep on coming in Minnesota, U.S., but fewer since 2015
It's not as frothy as a few years ago, but a resilient economy keeps the buying and selling churning.
Bedmakers like Sleep Number beneficiaries of China trade dispute
Sleep Number shares surged in after-hours trading after it reported better-than-expected second quarter earnings after the market closed.
More Minnesota companies tying environmental, social goals to executive pay
Executive pay more often being tied to 'ESG' goals
Jaffray will soon disappear from the Piper Jaffray name
The Piper Jaffray name has been a vital part of Minnesota business history for more than 100 years. But before that name emerged as one…
Anoka-based outdoors company sells its firearms brands for $170M
Vista Outdoor is making the moves in a restructuring plan, including consolidation of its headquarters in the Twin Cities.
Trade winds, economic uncertainty can't derail U.S., Minnesota stock market gains
At midyear, the resilient market is continuing to push all-time highs.
Ownership of Grand Rapids-based ASV to switch hands in $70.7 million deal
Investors in the company based in Grand Rapids will get $7.05 per share from Yanmar affiliate.
Morrie's Automotive Group names former AutoNation executive as CEO
Lance Iserman had been COO at the largest public auto group in the U.S.
Epoch Lacrosse on pace to produce $15 million in annual revenue
Fast-growing firm attracted the attention of buyers, but CEO James Miceli has rebuffed offers.
Sleep Number CEO Shelly Ibach on how important sleep is to the grieving process
The science that Sleep Number has used in marketing its beds is not just part of a report to CEO Shelly Ibach. She has started…
Deluxe Corp.'s North American employees all being granted company stock
New CEO Barry McCarthy wants workers at Shoreview-based firm to think more like owners.
St. Paul-based H.B. Fuller selling Georgia unit for $71 million
It is part of the St. Paul company's plan to shed nonstrategic acquisitions.
Bio-Techne acquires Minneapolis-based gene-editing startup
B-MoGen, developed at the U, joins the company's growing collection.
Slowdown in off-road sector hits Donaldson
Orders plunged late in the quarter for Bloomington-based muffler and filter producer.
Minnesota's 4 largest member-owned firms add depth, diversity to state's economy
There are more ways for companies to have shareholders other than trading on a major stock exchange. And if you use a broadened definition, as…
Piper Jaffray sells asset-management business in deal worth at least $60M
Financial-services company is selling subsidiary in two pieces.
Bodies recovered from St. Croix River near Stillwater and Pickerel Lake in St. Paul
Details of what happened are not known.
Bloomington-based Toro's revenue rises, but profits take a hit in Q2
The Bloomington-based company's profits took a hit in the second quarter.
CoreLogic closing Bloomington office, affecting 184 jobs
The move is part of a restructuring for the California-based company, and some employees may be able to apply for jobs elsewhere in the company.
Donaldson breaks ground on $15M R&D center in Bloomington
$15M center should be operational next year.
Seasonal construction boosts Minnesota monthly job growth
Minnesota companies have erased first-quarter job losses, adding 3,600 positions in April, the state said.
Doug Nelson, whose Brin Glass had a role in skyways and IDS Center, dies at 74
He long credited his business successes to good partners and employees.
Golden Valley-based Tennant reported increased profits, but with sluggish sales
The maker of cleaning equipment and supplies said despite results, focus on expanding margins and earnings beginning to show progress.
For second year, shareholders say no to Ameriprise's executive-compensation plan
It is rare for a company to lose the vote two years in a row, according to a firm that tracks the say-on-pay votes.
Many investors still shy about putting money into climate change, social equality
They are shy about putting money into climate change, social equality.
After a slow start, Ameriprise ends Q1 with solid numbers
The rocky stock markets affected client volume and growth of funds.
Minneapolis-based Sleep Number stock price takes a dive
The drop came a day after the company reported quarterly revenue that was slightly below expectations.
H.B. Fuller says it put tax cut to work for employees' health insurance
St. Paul company pays its workers for part or all of their health premiums.
Winona-based Fastenal continues 2018 upward roll into this year
On-site sales still drive the industrial supply distributor's growth.
Tennant benefits from nationwide push to upgrade Walmart stores with new technology
Giant retailer buying hundreds of autonomous cleaning machines.
CEO Paywatch: Archie Black, SPS Commerce Inc.
Black and other executives at Minneapolis-based SPS Commerce earned the maximum annual cash incentive award for the year.
Ameriprise sells auto and home insurance business for $1.05 billion
Mpls. firm is reshaping itself, selling its home and auto insurance arm to American Family.
CEO Pay Watch: Benjamin Fowke III of Xcel Energy Inc.
Most of Fowke's compensation, $22 million worth, came from previously issued restricted stock awards.
In first year as CEO, 3M's Michael Roman got $5.2 million
Michael Roman, 3M Co. CEO Total compensation: $5,195,051 for the year ended December 31, 2018 Salary: $1,049,976 Non-equity incentive pay: $1,431,503 Other compensation: $141,771…
Augeo adds option for people to use reward points for charitable donations
St. Paul-based Augeo is partnering with a global nonprofit organization to take employee loyalty and reward points and turn them into charitable donations. Many companies…
C.H. Robinson CFO Andrew Clarke is leaving the company
No replacement has been named for Andrew Clarke, as the leadership transition proceeds.
CEO Pay Watch: Deluxe's Lee Schram, who retired in November, made $11.7 million last year
Most of Schram's pay came from exercising stock options.
Thrivent moving investment division to six floors of AT&T Tower in downtown Minneapolis
When Thrivent Financial moves into its new corporate headquarters next year, its investment division will move into space of its own.The 300-member team, which includes…
Tennant is moving its headquarters from Golden Valley to Eden Prairie
The company will keep its main manufacturing plant in Golden Valley
Edward Doyle "Pete" Zimmer, Control Data computing pioneer, dies at 93
The last survivor of that earliest group, Zimmer had a badge number of 13.
Eden Prairie-based C.H. Robinson acquires Spanish cargo company
The acquisition for $48 million will allow company to extend its reach into Spain and Colombia.
Mendota Heights-based Patterson's dental unit shows growth in Q3
Both the company's dental and animal health units saw revenue grow.
Minnesota's two Lexus dealerships, in Wayzata and Maplewood, have been sold
The Ed Napelton Auto Group is acquiring Village Automotive Group, which owns Lexus dealerships in Wayzata and Maplewood and Village Chevrolet.
Minnesota United's stadium in St. Paul will be the eighth bearing Allianz's name
The German company is associated with soccer and rugby venues from Munich to Sydney and Vienna.
Golden Valley-based Tennant is making money again
Company posted stronger-than-expected results, leading to a yearly net income of $133M.
Snow may be tiresome for many, but it means big boost in profits for Bloomington-based Toro
The Bloomington-based company said sales were up 10 percent in its first quarter.
Minnesota-based Chuck & Don's pet-food chain sold to private-equity investors
New owners say they will retain the chain's 494 employees.
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.
