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Thursday P.M. Report

$870M Metrodome replacement plan unveiled, Wells Fargo practices probed, TCF warrants priced at $3, U.S. Bank launches Kansas center, and Park Nicollet names chief medical officer.

$870M Metrodome replacement plan unveiled:  The Metropolitan Sports Facilities Commission today unveiled plans for a $870 million, multi-use stadium on the current site of the Metrodome. The projected costs are about 11 percent less than an estimate of $954 million from early 2009 because of lower labor and materials costs. The latest plan calls for a 65,000-seat facility. Read full story

SEC investigating Wells Fargo practices: Federal regulators are looking into Wells Fargo & Co.’s securities lending practices after several Twin Cities foundations accused the San Francisco-based banking giant of losing their money on risky investments, according to a published report. Wells Fargo confirmed that it provided information to the U.S. Securities and Exchange Commission about its securities lending program. Read full story

Treasury prices TCF warrants at $3: The U.S. Treasury Department added $9.45 million to the U.S. bailout fund as it auctioned warrants for TCF Financial Corp. at $3 each. The transaction, which officially ends Monday, represents the last of the Treasury’s stake in the banking company. Read full story

U.S. Bank leases office for 1,100 employees in Kansas: U.S. Bank plans to lease a 185,000-square-foot building in Overland Park, Kan., for a new service center that will employ 1,100, the bank said today. The announcement came after J.P. Morgan Retirement Plan Service said it would move its 800-job headquarters from Kansas City to space leased on the sprint Nextel campus, also in Overland Park. The U.S. Bank Service Center there will  be one of the Minneapolis-based bank’s largest. Read full story

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Surgeon to become Park Nicollet’s chief medical officer: A Park Nicollet Health Services surgeon will become the St. Louis Park-based health provider’s chief medical officer, effective Jan. 1. Dr. Steven Connelly replaces Dr. David Abelson, who was promoted into Park Nicollet’s president post earlier this year. Read full story