April 2008 - Rochester Business News & Events

Former Maple Grove CEO found guilty of tax evasion

MINNEAPOLIS -- The former millionaire chief executive of a Maple Grove-based company has been found guilty of tax evasion

Published Wed, Apr 30 2008 8:30 PM by Postbulletin.com Local Business

IBM increases dividend 25 percent

IBM increased its dividend payout 25 percent Tuesday, reflecting the technology company's confidence that it can thrive even with an uncertain economy.

Published Wed, Apr 30 2008 10:20 AM by Postbulletin.com Local Business

Fed expected to cut rates 1 more time, then pause

WASHINGTON -- The Federal Reserve, which began the year aggressively fighting a severe credit crunch and economic weakness, may push the pause button after delivering perhaps one more quarter-point cut in inter

Published Wed, Apr 30 2008 10:13 AM by Postbulletin.com Local Business

Economy grows by only 0.6 percent in first quarter

WASHINGTON --The bruised economy limped through the first quarter, growing at just a 0.6 percent pace as housing and credit problems forced people and businesses alike to hunker down. The country's economic growt

Published Wed, Apr 30 2008 10:13 AM by Postbulletin.com Local Business

Construction manager picked for Mower County justice center

A Rochester construction firm will help Mower County with its estimated $30 million justice center in downtown Austin.

Published Wed, Apr 30 2008 9:00 AM by Postbulletin.com Local Business

Home prices sink at record clip; foreclosures keep mounting

NEW YORK -- In a bad omen for sellers and lenders this spring home selling season, the erosion of house values is accelerating and foreclosure filings are doubling, new data showed Tuesday

Published Wed, Apr 30 2008 8:20 AM by Postbulletin.com Local Business

Wrigley deal is 'a classic Warren Buffett move'

CHICAGO -- When Mars Inc. needed a few billion dollars to help fund its acquisition of Wm. Wrigley Jr. Co., it turned to investing legend Warren Buffett, a man who not only has a famous sweet tooth but also happens to be sitting on m

Published Wed, Apr 30 2008 8:04 AM by Postbulletin.com Local Business

Countrywide loses $893 million in 1Q

LOS ANGELES -- Countrywide Financial Corp., the nation's largest mortgage lender and servicer, said Tuesday it lost $893 million during the first quarter due to a sharp increase in its provision to gird against unpaid home mortgage l

Published Wed, Apr 30 2008 8:04 AM by Postbulletin.com Local Business

Minnesota farmers getting late start due to spring snows

ST. PAUL -- Lingering winter weather is giving Minnesota farmers a slow start to planting what could be one the most profitable corn crops in recent years, according to a new report from the U.S. Department of Agriculture. The USDA r

Published Tue, Apr 29 2008 6:10 PM by Postbulletin.com Local Business

Minnesota lawmakers want Northwest to pay up if HQ, jobs lost

ST. PAUL -- Two bills requiring Northwest Airlines to forfeit airport rent reductions and speed up repayment of a $245 million loan have cleared a Minnesota House panel

Published Tue, Apr 29 2008 6:05 PM by Postbulletin.com Local Business

48-hour strike at Scottish oil refinery ends

EDINBURGH, Scotland -- Workers returned to the Grangemouth oil refinery in central Scotland on Tuesday after a 48-hour strike that forced the closure of a major North Sea pipeline system. UNITE, Britain's largest un

Published Tue, Apr 29 2008 9:10 AM by Postbulletin.com Local Business

Rushford firm specializes in nanoparticle coatings

RUSHFORD -- Dan Fox has taken ideas and turned them into money-making realities for companies like TRW Automotive and Benchmark Electronics. "I see something that

Published Tue, Apr 29 2008 9:09 AM by Postbulletin.com Local Business

InBev to raise beer prices

BRUSSELS, Belgium -- The brewer of Stella Artois and Beck's beer said Tuesday it is raising prices to offset soaring costs for raw ingredients such as malt, barley and aluminum

Published Tue, Apr 29 2008 8:50 AM by Postbulletin.com Local Business

S&P: Home prices fell 12.7 percent in February

NEW YORK -- A closely watched index shows that U.S. home prices fell by 12.7 percent in February vs. last year, with 17 of the 20 metro areas reporting record annual declines.

Published Tue, Apr 29 2008 8:35 AM by Postbulletin.com Local Business

Without stock options, UnitedHealth CEO Hemsley's pay drops

MINNEAPOLIS -- The CEO of UnitedHealth Group Inc. saw his total pay drop 29 percent last year as he went without any new stock awards, according to a company filing on Monday. Chief Executive Stephen Hemsley took in

Published Tue, Apr 29 2008 8:23 AM by Postbulletin.com Local Business