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Friday P.M. Report

Boston Scientific reportedly may unload divisions, ev3 CEO received $2.8M, Hecker girlfriend charged with lying, megamall Radisson sold, and suit claims owner drained millions from Buffets Holdings.

Report: Boston Scientific may unload divisions: Medical-device maker Boston Scientific is looking to unload its Target Therapeutics and neuromodulation units, according to a Bloomberg News report, citing a person with knowledge of the matter. Bank of America Corp. has been hired by Boston Scientific to advise on the possible sales, the source said. Boston Scientific has major operations in Arden Hills and Maple Grove. Read full story

Ev3 CEO received $2.8 million last year: Ev3 Inc. CEO Robert Palmisano received nearly $2.8 million in compensation in 2009, his first full year as top executive at the medical device-maker. Palmisano joined Plymouth-based ev3 in April of 2008 and received $4.4 million in compensation for that year. The majority of that amount came in the form of options awards. For 2009, Palmisano received a salary of $600,000, up from $441,153 for 2008. Read full story

Hecker’s girlfriend charged with lying under oath: Denny Hecker’s girlfriend has been charged with lying while under oath in the former auto dealer’s $767 million bankruptcy case, Minnesota’s U.S. Attorney’s Office said today. Christi Michele Rowan, 36, of Wayzata, was charged in federal court with bankruptcy fraud for testimony given on Oct. 13, 2009. Rowan was also charged with one count of bank fraud for allegedly attempting to defraud Endura Federal Credit Union while applying to finance a 2008 Land Rover in April, 2009. Read full story

Mall of America Radisson sold to private-equity firm: The Radisson Hotel, adjacent to the Mall of America, has been sold to a New York-based private-equity firm. The deal also includes the Water Park of America, which is attached to the Bloomington-based hotel. The buyer, Wheelock Street Capital, did not disclose terms of the deal in a press statement today. Read full story

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Suit alleges owner drained hundreds of millions from Buffets Holdings: Restaurant operator Buffets Holdings wants more than $39 million in fees back from its former owner, saying in a new federal lawsuit that private equity firm drained cash from the company as it struggled to remain solvent. According to the suit, filed in Minneapolis’ U.S. District Court Thursday by the bankruptcy trustee for Eagan-based Buffets Holdings, Caxton-Iseman took the unnecessary advisory and transaction fees and more than $225 million in dividend recapitalizations that left the Old Country Buffet operator with more debt than it could stomach. Read full story