Nonprofit, nonpartisan journalism. Supported by readers.

Donate
Topics

Friday P.M. Report

Best Buy rumored as possible buyer of RadioShack, Capella CEO made $2.3M in his first year, former Minneapolis Mayor Sayles Belton joins Thomson Reuters, C.H. Robinson CEO’s pay slips, and lawsuit blames Andersen Windows.

Best Buy rumored as possible buyer of RadioShack: Best Buy, which has been edging into the market of Radio Shack, could be a potential buyer of the Fort Worth-based retailer, according to a report by the New York Post. RadioShack is exploring a possible sale to Best Buy and other alternatives, the paper said. RadioShack  said today in a statement that the company does not comment on market rumors. Its stock price jumped nearly 9 percent today, hitting $23.75 in midafternoon trading. Read full story

Capella CEO made $2.3M in his first year: Capella Education Co. Chairman and CEO J. Kevin Gilligan received more than $2.3 million in total compensation for his first 10 months on the job, according to a regulatory filing. Gilligan, who took the helm at Capella on March 2, 2009, received a base salary of $464,423, plus a bonus of $20,000 for work he performed before officially starting his job. Most of his 2009 income, however, came in the form of stock and incentives. Read full story

Sharon Sayles Belton, former Minneapolis mayor, joins Thomson Reuters: Former Minneapolis Mayor Sharon Sayles Belton was hired by Thomson Reuters as legal business as vice president for community relations and government affairs. Sayles Belton will focus on issues that affect Thomson Reuters legal business and will lead company community-outreach and sponsorships from the firm’s Eagan office. She comes to the company from GMAC Financial Services, where she was director of community relations and corporate philanthropy. Read full story

C.H. Robinson CEO pay slips to $3.3M in ’09: C.H. Robinson Worldwide President and CEO John Wiehoff received $3.3 million in compensation last year, down from nearly $5.8 million in 2008. Wiehoff’s salary stayed flat at $400,000, but his stock-award compensation fell sharply year over year. He received $1.2 million in stock awards last year, down from $4 million in 2008. Read full story

Article continues after advertisement

Lawsuit claims Andersen windows caused mold and fungus growth: A new federal lawsuit claims Andersen Windows knowingly sold defective windows to thousands of Minnesota customers.Rural Sylvan residents Troy and Lorie Gratke sued the Bayport company after they found mold and fungus growing on the 11 Andersen 400 Series Tilt Wash vinyl-clad windows they installed in their new home less than four years earlier. A gap in the window seal let moisture inside the window, according to the complaint, rotting the wood windows from the inside and encouraging mold and fungus growth on the exterior. Read full story