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Wednesday A.M. Report

Lender files for foreclosure on Hotel Ivy: Dougherty Funding has begun foreclosure proceedings on the Hotel Ivy and condominiums in downtown Minneapolis from the original developers. The Minneapolis-based firm filed two suits in Hennepin County district court Nov. 17 to start the proceedings. One action was related to the hotel, and the other was for the condo tower. Read full story

Trio of firms vie for transit hub: A selection committee representing the Ramsey County Regional Rail Authority will interview three teams of contractors competing to build the $150 million transportation hub at the Union Depot in downtown St. Paul. The teams are led by PCL Corp. of Edmonton, Alberta, Montenson Construction, Golden Valley, and Kraus-Anderson Construction Co., Minneapolis. Each team has several partners that are assisting with the design and engineering of the project. Read full story

Digi International CEO’s pay slips in ’09: Digi International Chairman and CEO Joseph Dunsmore received $800,533 in total compensation in 2009, down slightly from $889,748 in 2008, according to a filing with the U.S. Securities and Exchange Commission. Read full story

Local company recalls baby beds after 2 infants die: Amby Baby USA has recalled 24,000 hammock-style baby beds after two infants’ suffocation deaths, the U.S. Consumer Product Safety Commission  announced Tuesday. The CPSC said the Amby Baby Motion Bed was recalled because the “side-to-side shifting or tilting of the hammock can cause the infant to roll and become entrapped or wedged against the hammock’s fabric and/or mattress pad, resulting in a suffocation hazard.” Read full story

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