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Monday A.M. Report

New Bremer financial CEO’s path out of recession, Brookdale sheriff’s sale Friday, Southdale Center owner reports lower revenue and income, Esten named CEO of U alumni group.

New Bremer financial CEO to capitalize on strong post-recession position: Patrick Donovan has a decision to make as he takes over as CEO of Bremer Financial Corp.: where next to expand the banking company within the Upper Midwest. The St. Paul-based financial-services company — owned by both its employees and the Otto Bremer Foundation — has made it through the recession better than many of its competitors, earning $65.2 million in 2009. Donovan wants to take advantage of that. Read full story

Brookdale sheriff’s sale planned for Friday: Brookdale Center in Brooklyn Center will be sold at a sheriff’s auction Friday in Minneapolis at 10 a.m. according to a public notice published by Hennepin County. The mall, which is owned by Brooks Mall Properties LLC, based in Coral Gables, Fla., is being foreclosed on through a voluntary foreclosure by its lenders. Read full story

Southdale Center owner Simon reports lower revenue and income in 09: Simon Property Group, which owns Southdale Shopping Center in Edina, reported slightly less revenue and income last year, according to earnings released Friday. Unaudited consolidated statements showed net revenues falling to $3.76 billion for the fiscal year ending Dec. 31, 2009, compared with $3.78 billion the previous year. Read full story

Esten named CEO of U of M Alumni group: The University of Minnesota Alumni Association has picked associate U of M athletics director Phil Esten to be its next CEO. He will replace longtime CEO Margaret Sughrue Carlson, who announced plans to retire in May. Esten, who has a doctoral degree in kinesiology from the U of M and has taught graduate level courses in the kinesiology department, was chosen through a national search process. Read full story