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Thursday P.M. Report

Petters plans to appeal, Bush Foundation putting $40M into teacher prep, $14M raised in med-tech venture capital, and contract set for appliance recycling.

Report: Petters will appeal: Tom Petters plans to appeal the verdict that found him guilty on all 20 counts for his role in orchestrating a $3.5 billion Ponzi scheme, the Associated Press reported today. Petters’ defense attorney, Jon Hopeman, said his client’s push to win the case “is far from over.” Petters can’t officially appeal the decision until his sentencing, which is expected to occur in the next two months. Read full story

Bush Foundation to invest $40M for teacher prep: The Bush Foundation announced today it will provide $40 million in funding for teacher-preparation programs at 14 universities in Minnesota, North Dakota and South Dakota over the next 10 years. The “Teacher Effectiveness Initiative” aims to produce 25,000 teachers, representing nearly all of the new teachers needed in those three states for the next decade. Read full story

Med-tech startup Apnex raises $14M: Apnex Medical, which is developing an implantable medical device to treat sleep apnea, has raised $14 million in venture capital, the company announced today. The Roseville firm will use the funds to develop a new version of its device, which is implanted above the pectoral muscle, much like a pacemaker. The product stimulates nerves along the lower jaw, helping to dilate throat muscles and open a patient’s airway. Read full story

ARCA lands Great River fridge-recycling contract: Appliance Recycling Centers of America has been awarded a contract from Great River Energy to provide refrigerator and freezer recycling services for the utility’s residential customers. Under the program, members of its  electric cooperative will be eligible to receive a $35 incentive check for turning in operating but energy-inefficient refrigerators and freezers. Read full story