Debt and Equities
Famous Dave’s of America Inc., Minnetonka, has received a letter from Nasdaq that it no longer complies with Nasdaq listing rules. The resignation of two directors earlier this year caused the Audit Committee to fall out of compliance with listing standards. The notice has no immediate impact on the company’s listing on the exchange, and the company expects to regain compliance when it elects a new director later this year.
Enbridge Energy, Calgary, Alberta, said that its planned replacement of a major crude oil pipeline known as Line 3 between Hardisty, Alberta, and Superior, Wis., is expected to cost $7.5 billion. The U.S. portion of the project, which is mostly in northern Minnesota, would cost $2.6 billion. Enbridge will replace all the pipe from a 1960s-era pipeline that has a history of leaks; the replacement is expected to be in service in 2017.