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Thursday A.M. Report

Cirrus drops suit against L-3 Communications Avionics Systems: Cirrus Design Corp.has withdrawn a lawsuit that accused a former supplier of badmouthing the Duluth-based aircraft maker. U.S. District Judge Patrick Schiltz signed off on the dismissal on Wednesday. The supplier, L-3 Communications Avionics Systems of Grand Rapids, Mich., had not filed a response to the suit. L-3, Cirrus allegedly tried last month to get suppliers to bail on Cirrus, telling them that Cirrus’ controlling shareholder and largest creditor, Arcapita, planned to seek bankruptcy protection for Cirrus. Read full story

Caribou Coffee paid CEO Michael Tattersfield $1.5 million in 2009: Caribou Coffee paid CEO Michael Tattersfield $1.5 million in 2009, his first full year leading the Brooklyn Center-based company. Tattersfield, president and CEO of the Caribou since August 2008, earned a base salary of $441,346 in 2009. He also received $429,000 in stock awards and $662,019 in cash bonuses. Read full story

Byron printer fights $2 million bill for U.K. postage: A Byron printing company is fighting a $2.1 million postage bill that it says it doesn’t owe. According to a suit originally filed in Olmsted County District Court and moved Wednesday to Minneapolis’ U.S. District Court, Schmidt Printing has printed and shipped advertisements direct to consumers in the United Kingdom since 1999. Another company in the United Kingdom, Response Direct Publishing, paid the overseas postage due. But when it entered bankruptcy last April, the company apparently stopped paying the mail service to deliver the packets of cards containing advertisements. Read full story

Minnesota Twins name Pepsi exclusive soft drink provider of Target Field: The Minnesota Twins have named Pepsi as the exclusive soft drink provider at Target Field. The ballclub will grant Pepsi Beverages Co., a division of PepsiCo, exclusive soft drink pouring and marketing rights in the stadium for five years. The Twins did not disclose the value of the contract. Read full story

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