Caring for the aged is costly. A new survey co-conducted by a division of UnitedHealth Group concludes that caring for aging relatives costs families far more than previously estimated. Evercare, a division of the Minnetonka HMO, and the National Alliance for Caregiving surveyed 1,000 adults caring for somebody older than age 50, the New York Times reported Sunday. It found the average caregiver spends about $5,500 out-of-pocket per year, double the previous estimate.
Arctic Cat announced this morning that it has hired a former GE and Home Depot executive to serve as president and chief operating officer. Claude Jordan, 52, was president of Home Depot’s At-Home Services business from 2003 to 2008, during which sales grew more than 300 percent, the company said. Jordan will relocate soon to Minnesota from his current home in Georgia. He begins work immediately with the Thief River Falls-based manufacturer of ATVs and snowmobiles.
C.H. Robinson Worldwide has helped Subway move a lot of lunch meat over the years. Now, the Eden Prairie transportation company has been named the eatery’s “Supply-Chain Partner of the Year,” according to eTrucker.com. Technology from C.H. Robinson technology helps Subway “plan, optimize and control their shipments.”
Target Corp. has been trying to lure shoppers lately by emphasizing its low prices. But Benjamin Taylor, writing at Brick Financial Management’s Third Pig blog, argues the Minneapolis retailer should instead raise prices. People value items based on price instead of pricing items based on value, Taylor writes. “Thus Target has a competitive advantage over Wal-Mart in the minds of most consumers during better economic times.”
More unsolicited advice for Target: George Gutowski at the Financial Skeptic blog says the company needs to decide if it’s a “merchant retailer or a financial institution.” He says credit-card losses are becoming a “major factor” in the company’s recent profit declines. He speculates borrowers might not make payments on the card a priority if they run into difficulties. “You have to believe they will deal with Visa and MasterCard first.”
Do you have an inside scoop or news tip about a Minnesota company? Spotted something interesting in your RSS reader? Drop Business Agenda a note at dhaugen [at] minnpost [dot] com.