Staff Directory 10645186

Patrick Kennedy

Reporter | Business, Research
phone: 612-673-7926
Patrick Kennedy, reporter and researcher, produces the annual Star Tribune 100 ranking of Minnesota's biggest public companies; the CEO compensation package and the Nonprofit 100. He also covers certain public companies.
Recent content from Patrick Kennedy
Patterson Cos. becomes state's 18th Fortune 500 company

Patterson Cos. becomes state's 18th Fortune 500 company

Minnesota now has 18 companies on the list.
Russell Swansen stepping down June 30 as Thrivent's chief investment officer

Russell Swansen stepping down June 30 as Thrivent's chief investment officer

The chief investor will be replaced by David Royal.
Patterson CEO Anderson out, former chief Wiltz in as interim leader

Patterson CEO Anderson out, former chief Wiltz in as interim leader

The shake-up comes after the company posted a second annual decline in profit.
Valspar reports last earnings as independent company

Valspar reports last earnings as independent company

The acquisition by Sherwin-Williams should close Thursday.
Regis looking at strategic alternatives for mall-based salons

Regis looking at strategic alternatives for mall-based salons

Company aiming for "strategic alternatives" to mall salons.
Obituary: BCA agent Lee Urness wrote book on hunt for serial killer Cunanan

Obituary: BCA agent Lee Urness wrote book on hunt for serial killer Cunanan

Lee Urness was destined to follow his father, Douglas County Sheriff Howard Urness, and his grandfather and great-grandfathers before him, into a law enforcement career.With…
Christy Morse retiring as CEO of Margaret A. Cargill Philanthropies

Christy Morse retiring as CEO of Margaret A. Cargill Philanthropies

Paul Busch, the organization's president, will fill her role.
Toro posts strong results for second quarter

Toro posts strong results for second quarter

Bloomington-based company raises guidance for rest of the year.

The Star Tribune 100 is now the Star Tribune 50 — here's why

Three decades of declining interest rates making debt financing more attractive, increased access to private equity dollars, robust mergers plus acquisition activity have all contributed…
ASV becomes Minnesota's latest public company

ASV becomes Minnesota's latest public company

ASV Holdings Inc. did not raise as much money as expected Friday after it priced its initial public offering of stock at $7 per share.
CEO Pay Watch: Best Buy's Hubert Joly made $16.8 million last fiscal year

CEO Pay Watch: Best Buy's Hubert Joly made $16.8 million last fiscal year

Joly has generally been rewarded for achieving goals in the company's Renew Blue long-term strategic plan.
New Regis CEO knows he has big turnaround job ahead

New Regis CEO knows he has big turnaround job ahead

The Edina-based company's stock is trading at its lowest point in nine years after posting another quarterly loss and declining revenue figure.

CH Robinson beats Wall Street estimates despite continuing competitive pressues

It beat projections with its first-quarter performance.
MyPillow lays off 140 workers because of slower sales

MyPillow lays off 140 workers because of slower sales

CEO Mike Lindell says a delayed advertising campaign has contributed to inventory glut.
TCF first-quarter earnings hit because of restructuring and technology costs

TCF first-quarter earnings hit because of restructuring and technology costs

President says bank is in "seventh inning" of auto finance business changes.

Evenstad family sells Upsher-Smith Labs generics business to Japanese firm for $1 billion

Upsher-Smith may add jobs after the transaction.
Select Comfort more than doubles first-quarter earnings per share

Select Comfort more than doubles first-quarter earnings per share

The results handily beat analysts' expectations.
Fastenal hits the mark on first-quarter earnings

Fastenal hits the mark on first-quarter earnings

The company saw a more than 6 percent increase in both sales and earnings.
CEO Pay Watch: Compensation for Buffalo Wild Wings' Sally Smith decreased 67 percent

CEO Pay Watch: Compensation for Buffalo Wild Wings' Sally Smith decreased 67 percent

Sally Smith Buffalo Wild Wings Inc. President, CEO Total compensation: $3,393,662 for the year ended Dec. 31, 2016 Salary: $875,000 Nonequity incentive pay: $374,605…
ASV construction equipment maker could be going public again

ASV construction equipment maker could be going public again

The Grand Rapids company filed papers for an IPO to raise $36 million.

H.B. Fuller opens R&D facility in India

The new center is part of a $20 million investment in the region.
CEO Pay Watch: Deluxe's Lee Schram made $7.4 million last year

CEO Pay Watch: Deluxe's Lee Schram made $7.4 million last year

Lee Schram Deluxe Corp., CEO Total compensation: $7,445,143 for the year ended Dec. 31, 2016 Salary: $925,833 Nonequity incentive pay: $1,083,745 Other compensation: $21,287…
CEO Pay Watch: Graco's Patrick McHale made nearly $8 million last year

CEO Pay Watch: Graco's Patrick McHale made nearly $8 million last year

Patrick McHale, Graco Inc., President, CEO Total compensation: $7,977,846 for the year ended Dec. 31 Salary: $772,900 Nonequity incentive pay: $466,021 Other compensation: $13,961 Exercised…
CEO Pay Watch: Ameriprise CEO earned $15.1 million in 2016

CEO Pay Watch: Ameriprise CEO earned $15.1 million in 2016

James Cracchiolo Ameriprise Financial Inc. Chairman, CEO Total compensation: $15,083,018 for the year ended Dec. 31. Salary: $1,025,000 Nonequity incentive pay: $6,258,000 Other compensation:…
CEO Pay Watch: Tennant's Chris Killingstad made $2.5 million last year

CEO Pay Watch: Tennant's Chris Killingstad made $2.5 million last year

H. Chris Killingstad Tennant Co. President, CEO Total compensation: $2,546,846 for the year ended Dec. 31 Salary: $710,517 Nonequity incentive pay: $783,359 Other compensation:…
Jay Z in collaboration with Twin Cities asset management firm

Jay Z in collaboration with Twin Cities asset management firm

Jay Z and the company formerly known as Imation Corp. are collaborating on a new subsidiary that will be part of Jay Z's entertainment company,…
Donaldson cautiously optimistic after beating Q2 expectations

Donaldson cautiously optimistic after beating Q2 expectations

CEO says stabilization of market conditions helped, but future's still uncertain.
Obituary: Peter Frechette, former Patterson CEO, also known for philanthropy

Obituary: Peter Frechette, former Patterson CEO, also known for philanthropy

Peter Frechette, former chairman and CEO of Patterson Companies, is considered "the modern day founder of the company." In his earlier life, as a U.S.…
CEO Pay Watch: Polaris' Scott Wine's compensation declined 70 percent in 2016

CEO Pay Watch: Polaris' Scott Wine's compensation declined 70 percent in 2016

Scott Wine Polaris Industries Inc. Chairman, CEO Total compensation: $5,603,493 for the year ended December 31, 2016 Salary: $985,000 Nonequity incentive pay: $0 Other…
More companies embrace virtual annual shareholder meetings

More companies embrace virtual annual shareholder meetings

In the age of technology, some see cost savings and increased participation with the option.
Professional landscapers help Toro post record results

Professional landscapers help Toro post record results

The Bloomington firm beat analyst expectations with a "solid" first quarter.
Tennant announces $350 million deal for Italian company

Tennant announces $350 million deal for Italian company

The company's biggest ever acquisition was announced along with positive fourth quarter earnings.

Dental unit hampers Patterson results

The company also saw margin pressure in its animal health business.
Deluxe Corp. is buying Canadian company RDM Corp. for $70 million

Deluxe Corp. is buying Canadian company RDM Corp. for $70 million

Purchase of software maker will help the firm expand services to banks.
CEO Paywatch: Toro's Michael Hoffman made $21.5 million

CEO Paywatch: Toro's Michael Hoffman made $21.5 million

The fiscal year that ended Oct. 31 was Hoffman's last as CEO. Now retired, he remains as board chairman.
Select Comfort misses mark in fourth-quarter results

Select Comfort misses mark in fourth-quarter results

But the company says it already has seen a pickup in sales at start of 2017.

C.H. Robinson reports better-than-expect results in Q4

C.H. Robinson reported better-than-expected fourth-quarter results in what the company called a challenging transportation market. For the last several quarters the company has been contractually…
Minnesota corporate deals topped $50B in 2016

Minnesota corporate deals topped $50B in 2016

The St. Jude Medical blockbuster countered a slight decline from 2015.

Local money pros see Dow's close above 20,000 as a confidence boost

Local money pros see the 20,000 mark as good sign for investor psychology.
Better Business Bureau names Adams Loyd as president and CEO

Better Business Bureau names Adams Loyd as president and CEO

She will take over Jan. 30, replacing Dana Badgerow.
Great Clips CEO stepping down at end of year

Great Clips CEO stepping down at end of year

Long-term succession plan at hair salon chain results in promotions on leadership team.

H.B. Fuller ends fiscal year on a strong note

The industrial adhesives company reported 56 percent increase in net income during fourth quarter.
Founder of Eagan-based CaringBridge to retire

Founder of Eagan-based CaringBridge to retire

Mehring wants to spend time encouraging positive uses of technology.

Fastenal shares jump 5 percent as sales, profit gains resume

The company's shares jumped 5 percent and reached a 52-week high after the news Wednesday.
Minnesota sees fewest venture capital deals in a dozen years

Minnesota sees fewest venture capital deals in a dozen years

The deals raised $339.4 million for 23 companies.
Volatile outlook for stocks could benefit financial pros

Volatile outlook for stocks could benefit financial pros

Cheaper, passive investment options have ruled lately.
Minnesota investment professionals see the bull market marching on in 2017, but with more volatility

Minnesota investment professionals see the bull market marching on in 2017, but with more volatility

The Trump administration will usher in a lot of change that could propel the stock market and economy out of slow growth. But the participants in our annual Investors' Roundtable said there could also be some pain along the way.
Select Comfort's new bed tracks how you sleep, and then does something about it

Select Comfort's new bed tracks how you sleep, and then does something about it

Select Comfort and Resound were Minnesota's innovation winners at CES, the big tech trade show.
Valspar results affected by merger costs

Valspar results affected by merger costs

The company absorbs $19M in expenses for Sherwin-Williams deal, but still increases profits.
CEO Paywatch: Ron Konezny, Digi Interntional

CEO Paywatch: Ron Konezny, Digi Interntional

Ron Konezny, Digi International Inc. president, CEO Total compensation: $1,774,863 for the year ended Sept. 30, 2016 Salary: $465,000 Nonequity incentive pay: $776,550 Other compensation:…
H.B. Fuller cutting 40 local jobs as part of restructuring, 220 positions overall

H.B. Fuller cutting 40 local jobs as part of restructuring, 220 positions overall

The $17 million to $20 million restructuring is part of the company's 2020 strategic plan.
Bloomington-based Toro reports record annual earnings of $231 million

Bloomington-based Toro reports record annual earnings of $231 million

A strong fourth quarter put the Bloomington company over the top.
Donaldson's first-quarter earnings jump 50 percent

Donaldson's first-quarter earnings jump 50 percent

CEO is cautious, but firm sees encouraging signs.

Patterson stock drops after disappointing quarter

The company missed expectations and lowered guidance for the year.
Stratasys shares drop sharply after disappointing third-quarter results

Stratasys shares drop sharply after disappointing third-quarter results

Revenue dropped for the fifth quarter in a row for the maker of 3-D printers.
Investors take stock of a Trumped-up market

Investors take stock of a Trumped-up market

Shaking off the campaign rhetoric, market watchers are embracing the prospect
Investors bet Trump will boost spending and cut taxes, Minnesota analysts say

Investors bet Trump will boost spending and cut taxes, Minnesota analysts say

American investors looked on the upside of Trump's victory, seeing the prospect of more spending and eased regulations.

Datalink Corp. will be acquired for $258 million by Insight Enterprises

Eden Prairie-based data center services provider merging with Insight Enterprises of Arizona.
Toro agrees to buy German maker of irrigation equipment and sprinklers

Toro agrees to buy German maker of irrigation equipment and sprinklers

Regnerbau Calw makes the Perrot brand.

Securian Financial Group to spend $142 million on Canadian acquisition

Securian Financial Group is making the largest acquisition in its history to expand outside the United States for the first time. St. Paul-based Securian is…
Select Comfort moving headquarters to downtown Minneapolis

Select Comfort moving headquarters to downtown Minneapolis

It's leaving Plymouth in the latest and one of the largest moves by companies into Minneapolis in the past few years.

Profits down for C.H. Robinson in the third quarter

C.H. Robinson Worldwide reported third-quarter results after the market closed on Tuesday. The Eden Prairie-based global logistics firm earned $129 million in the quarter or…

Slow industrial sector hurts Tennant's Q3 results

Golden Valley-based company expects revenue growth to return in fourth quarter.

Money managers say let politics be politics, not influence long-term investment plans

Money managers advise not trading your portfolio based on the election.
Who's Driving app aims to help parents in need of a carpool

Who's Driving app aims to help parents in need of a carpool

Funding troubles nearly put the brakes on a promising new product, but entrepreneurs say they have new momentum.

Venture capital investments down but still more than $10 billion

Five companies in the state receive funding even as national financing declined in Q3.

Fastenal's third-quarter earnings down slightly

The company just missed analysts' expectations; stock trading down.
C.H. Robinson acquires Australian freight forwarding business

C.H. Robinson acquires Australian freight forwarding business

The Eden Prairie company adds new region with deal costing more than $225M.
Deluxe Corp. launches web series to highlight its evolution to a small-business services firm

Deluxe Corp. launches web series to highlight its evolution to a small-business services firm

Deluxe hopes to display diversity of companies, spotlight own evolution.
IPO market remains a shadow of its former self

IPO market remains a shadow of its former self

Investment banks have not seen initial offering revenue this low since mid-1990s.

Level and Rocket55 form joint venture called Workhorse Content

Rocket55 and Level believe their joint venture offers better analytics, content.
Obituary: Rabbi Moshe Weiss survived the 'Shark Tank,' but true love was education

Obituary: Rabbi Moshe Weiss survived the 'Shark Tank,' but true love was education

Rabbi Moshe Weiss was a self-described “rabbipreneur” and inventor. He gained some fame when he appeared on the reality TV show “Shark Tank” in 2013,…

Donaldson fails to meet expectations for fourth quarter

Flat sale and a strong dollar limited income in the fourth quarter and for the year, but it's projecting a better 2017.
CEO Pay Watch: Regis' Dan Hanrahan made $2.6 million last fiscal year

CEO Pay Watch: Regis' Dan Hanrahan made $2.6 million last fiscal year

Dan Hanrahan Regis Corp. president and CEO Total compensation: $2,556,484 for the year ended June 30 Salary: $882,000 Nonequity incentive pay: $1,315,694 Other compensation:…

Cogentix receives $25 million infusion of capital from Accelmed Growth Partners

Accelmed transaction helps clean up Cogentix's balance sheet and gives it cash to add to portfolio of products.
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