Ditech layoffs continue in St. Paul

Ditech Financial informed St. Paul and state officials recently that it will dismiss 116 workers as it moves more operations elsewhere.

The home loan provider sent a letter this month to St. Paul Mayor Melvin Carter, Ramsey County Commissioner Jim McDonough and the state economic development agency about the latest terminations.

They followed a round of 117 layoffs announced last summer for Ditech, located in Landmark Towers on St. Peter Street close to Rice Park.

"Management has determined that it is in the best interests of the company to consolidate our mortgage servicing operations in company locations other than St. Paul," Elizabeth Monahan, human resources chief at Ditech Holding, wrote in the letter. "Presently we have no definite plans to close the St. Paul site. However, the transition of work from St. Paul to other company locations is anticipated to result in jobs losses at the St. Paul site throughout 2018."

Many of the job losses would occur before the end of June. The current round of layoffs started March 5 and is expected to continue through August.

There also is a chance Ditech may close its St. Paul office.

In February, Ditech's parent company, Walter Investment Management Corp., emerged from Chapter 11 bankruptcy reorganization. The Pennsylvania-based firm changed its name to Ditech Holding Corp.

Minnesota celebrated the start of the 2018 commercial shipping season this week by opening the Port of Duluth-Superior to cargo ships that will deliver iron ore to customers along the Great Lakes, port and mining officials announced Wednesday.

Duluth Seaway Port Authority officials said the five ships departing the harbor will load iron ore from across Minnesota's Iron Range and Marquette, Mich., and deliver to steel mills on the lower Great Lakes. With the assistance of an ice breaking tugboat, the Erie Trader/Clyde S. VanEnkevort left the Duluth port Tuesday to load iron ore at the Canadian National dock in Two Harbors.

The first five ships will head across Lake Superior to Sault Ste. Marie, Mich., to await the opening of the Soo Locks on Sunday.

The Duluth Seaway Port Authority estimates the Twin Ports could begin seeing their first inbound "lakers" arrive a day later, depending on ice conditions. The port is used by nearly 900 vessels each year and moves an average of 35 million tons of iron ore, coal, grain, limestone, cement, salt and equipment cargo. Shipping from the Port of Duluth-Superior creates about 11,500 jobs and contributes $1.5 billion to the regional economy. Given last year's booming shipments, expectations are high.

Kelsey Johnson, president of the Iron Mining Association of Minnesota, said the shipping season opener is an exciting time for iron mining and the region. "Each shipping season we are reminded of the interconnectedness of mining in our daily lives and with its regional economic impact," she said. "This is a great day for Minnesota iron, American steel, and all our regional ports."

Through September 2017, iron-ore shipments from Duluth jumped 36 percent to 13.7 million tons from the same period in 2016. The uptick was a sign that most Minnesota taconite plants have revived following a severe downturn in 2015 and 2016 that displaced 2,000 Iron Rangers.

Dee DEPASS

GearJunkie, founded in 2006 as a column on outdoor activities and equipment that has grown into an online business approaching $2 million in revenue, is moving its headquarters from Minneapolis to Denver.

Founder Stephen Regenold said despite the move of several people to Colorado, the Minneapolis operation is expected to grow to 10 people this year as it builds a marketing agency to complement its editorial work.

"Our strategy is to scale the operation and to stake a claim in Colorado as the base of our editorial operation," Regenold said.

GearJunkie's communications agency in Minneapolis will focus on projects, content and marketing services, led by Vice President Ryan Johnson.

The GearJunkie Media division in Minneapolis will focus on consumer content and development for brand partners, Johnson said.