Company News

NEW BUSINESSMakeMusic Inc., Eden Prairie, has partnered with the Association of Music Parents (AMP). As a charter sponsor, MakeMusic will support AMP's mission to mobilize parents of school-aged students, as well as concerned citizens, teachers and music industry supporters. For $12 per year, AMP members get access to information and resources designed to help members keep their schools' music and arts programs strong.

DEBT AND EQUITIESGranite City Food & Brewery Ltd., Minneapolis, has completed its previously announced transaction with its controlling shareholder, Concept Development Partners (CDP), in which CDP invested an additional $6.5 million in exchange for 3.1 million shares of Granite City's common stock. Granite City also amended its credit agreement with Fifth Third Bank to increase its line of credit by $2 million, reduce the term loan repayment required upon completion of the CDP transaction to $1 million, and extend to Dec. 31, 2013, the date on which the line of credit will convert to a term loan.

General Mills Inc., Golden Valley, approved a quarterly dividend of 33 cents per share, an increase from 30.5 cents, payable Aug. 1 to shareholders of record on July 10.

PERSONNELChildren's Hospitals and Clinics of Minnesota, Minneapolis, announced plans to rebalance nurses across units and shifts and add about 20 nurse full-time equivalents (FTEs) in order to add flexibility to better meet the needs of every child requiring hospital care while honoring promises in its nurse union contract. To fix the imbalance under terms of its Minnesota Nurses Association contract, Children's will eliminate some positions, offering nurses the opportunity to rebid for other positions, take early retirement if eligible, take a temporary leave of absence or reduce their hours. However, the number of nursing positions created will exceed by 20 FTEs the number eliminated and greatly reduce overtime.