Minneapolis - St. Paul Business News

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Unity77
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Minneapolis - St. Paul Business News

Postby Unity77 » July 17th, 2012, 3:21 pm

I figured we should have a thread dedicated to MPLS - STPL area business news (positive and negative).

Recent news regarding Best Buy and now SuperValu has me a bit concerned about the impact on the region from lost jobs, the disappearance of one or both of these Fortune 500 companies, as well as any other negative affects. Any thoughts?

Lancestar2

Re: Minneapolis - St. Paul Business News

Postby Lancestar2 » July 18th, 2012, 11:28 pm

Unity77 wrote:I figured we should have a thread dedicated to MPLS - STPL area business news (positive and negative).

Recent news regarding Best Buy and now SuperValu has me a bit concerned about the impact on the region from lost jobs, the disappearance of one or both of these Fortune 500 companies, as well as any other negative affects. Any thoughts?

The loss of SuperValu would be HUGE IMO If Cub Foods went out of business (as in recent years they have been getting much more competition from Walmart centers (and of course Super Target) I wonder if they will survive? ...I assumed that Rainbow would have folded first but I think that Cub Foods still has a large hold on the grocery retail market (or at least I think they still do)

I personally have started to switch to Walmart center and even Cost co and Sams Club (large family with extra membership cards! :mrgreen: Shhh! ;) ) I just don't see how Supervalue can survive! (also as I used to work at target I know at 5 years ago they still bought their food items from Supervalue however when I left they were already talking about building a Target grocery distribution center Im sure they already made the switch which would only further hurt Supervalue by decreasing growth and profit margins.

It would be a shame if a huge company like maybe Kroger foods or Hy-vee Foods came in and bought up Cub Stores! we would loose our locally owned grocery store.

dmdhashw
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Re: Minneapolis - St. Paul Business News

Postby dmdhashw » July 19th, 2012, 12:18 pm

You'd be sad to see Cub go, yet you primarily patronize its main competitors. Interesting.

Lancestar2

Re: Minneapolis - St. Paul Business News

Postby Lancestar2 » July 20th, 2012, 9:51 am

dmdhashw wrote:You'd be sad to see Cub go, yet you primarily patronize its main competitors. Interesting.
yes, I do see what your getting at lol ...but being a broke college student I just gotta shop with my wallet and not about service and community. Sure once I start making a 30-50K annual salary I would gladly return! :mrgreen:

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Nathan
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Re: Minneapolis - St. Paul Business News

Postby Nathan » July 21st, 2012, 10:35 am

I think this is pretty good news, as a region we're a bit stagnant, but in the past few years we've moved up from ranking in the 50's to 22. Maybe just based on other cities' misfortune, but if we look good that gives us a better hand for future growth?

http://www.forbes.com/places/mn/minneapolis-st-paul/

Unity77
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Re: Minneapolis - St. Paul Business News

Postby Unity77 » July 24th, 2012, 11:13 pm

* McGladrey has announced that it will be moving its headquarters to Chicago. There won't be any local jobs lost, but there will be 300 - 500 workers added to Chicago over the next 5 years. McGladrey will be consolidating its Twin Cities offices this September when it moves 120 employees from its Bloomington office to its downtown MPLS office at McGladrey Plaza. The combined office will have about 500 employees.

* Wells Fargo Advisors is moving an unspecified number of employees from Minneapolis to St. Louis where it is renovating its downtown corporate office to hold an additional 400 employees.

mplsjaromir
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Re: Minneapolis - St. Paul Business News

Postby mplsjaromir » July 25th, 2012, 7:17 am

Hasn't McGladrey always been headquartered in Chicago.

Konante
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Re: Minneapolis - St. Paul Business News

Postby Konante » July 31st, 2012, 8:05 am

mplsjaromir wrote:Hasn't McGladrey always been headquartered in Chicago.
In effect, yes, but not technically. Both pieces of news from Unity77 are not good. Not in a "the sky is falling" way but disappointing nevertheless.

dmdhashw
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Re: Minneapolis - St. Paul Business News

Postby dmdhashw » August 3rd, 2012, 7:08 am


seanrichardryan
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Re: Minneapolis - St. Paul Business News

Postby seanrichardryan » August 3rd, 2012, 7:53 am

Great, they can deny coverage for routine dental work even faster!
Q. What, what? A. In da butt.

Konante
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Re: Minneapolis - St. Paul Business News

Postby Konante » August 3rd, 2012, 8:00 am

Great news! Flight back to the city from suburbia!

MNdible
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Re: Minneapolis - St. Paul Business News

Postby MNdible » August 3rd, 2012, 9:26 am

seanrichardryan wrote:Great, they can deny coverage for routine dental work even faster!
Ha!

1200onthemall
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Re: Minneapolis - St. Paul Business News

Postby 1200onthemall » August 3rd, 2012, 6:37 pm

Only 4 of the 19 Fortune 500 companies headquartered in Minnesota in 2012 were on the list in 1990.

United Health Group
Target Corporation
Best Buy
Supervalu
CHS
3M**
U.S. Bancorp
Medtronic**
General Mills**
Land O’ Lakes
Xcel Energy
Ameriprise Financial
C.H. Robinson Worldwide
Mosaic
Hormel Foods**
Thrivent Financial for Lutherans
Ecolab
St. Jude Medical
Nash Finch
** on the 1990 list

I have never been a fan of trying to "lure" companies to MN, I think we do a far better job creating new companies. Sure we have lost a few HQ's over the years and I am sure more will change but we have also created plenty of new ones.
 

NickP
Union Depot
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Re: Minneapolis - St. Paul Business News

Postby NickP » August 4th, 2012, 9:21 pm

Preach it man! I agree.

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Nick
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Re: Minneapolis - St. Paul Business News

Postby Nick » August 5th, 2012, 12:13 pm

That's a super good fun fact, actually.

mattaudio
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Re: Minneapolis - St. Paul Business News

Postby mattaudio » August 7th, 2012, 10:54 am

Land O'Lakes was on there in 1990. Also it's fascinating to see the time capsule that is the 1990 Fortune 500. It seems like half of the list was industrial/manufacturing, and many in industries which are antiquated now.

I'm trying to figure out which companies were in MN in 1990 but are now not on the list or non-existent... Honeywell, Control Data, etc.

dmdhashw
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Re: Minneapolis - St. Paul Business News

Postby dmdhashw » August 7th, 2012, 12:10 pm

Any opinions on Robert Schulze's plan to privatize Best Buy?

http://www.bizjournals.com/twincities/n ... faces.html

1200onthemall
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Re: Minneapolis - St. Paul Business News

Postby 1200onthemall » August 7th, 2012, 6:11 pm

mattaudio wrote:Land O'Lakes was on there in 1990. Also it's fascinating to see the time capsule that is the 1990 Fortune 500. It seems like half of the list was industrial/manufacturing, and many in industries which are antiquated now.

I'm trying to figure out which companies were in MN in 1990 but are now not on the list or non-existent... Honeywell, Control Data, etc.
Sorry, I missed Land O Lakes on the 1990 list

The MN HQ'd companies on the 1990 fortune 500 list include:


Lamd O Lakes
Honeywell
3M
General Mills
International Multifoods
Deluxe
Pentair
Bemis
Crazy Research
H.B. Fuller
Medtronic
Jostens
Toro

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FISHMANPET
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Re: Minneapolis - St. Paul Business News

Postby FISHMANPET » August 8th, 2012, 6:42 pm

I hope you meant Cray Research and not Crazy Research.

I refuse to believe that there was a company on the fortun 500 in 1990 called Crazy Research ;)

1200onthemall
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Re: Minneapolis - St. Paul Business News

Postby 1200onthemall » August 9th, 2012, 3:49 pm

FISHMANPET wrote:I hope you meant Cray Research and not Crazy Research.

I refuse to believe that there was a company on the fortun 500 in 1990 called Crazy Research ;)
Maybe that's why they are no longer around.....LOL
Sorry about that, and I didn't even have a gin-tonic in hand.


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