Nonprofit, nonpartisan journalism. Supported by readers.

Donate
Topics

Thursday P.M. Report

Business index shows economic growth in Minnesota, General Growth Properties files to emerge from bankruptcy, Mosaic earnings fall short of expectations, and Maguire Agency buys house-moving insurer.

Business index shows economic growth in Minnesota: The state’s economy is growing again, according to a well-known economic indicator published today. The Mid-America Business Condition Index, which the University of Creighton releases each month, rated Minnesota business conditions at 62.5, up from February’s 62.3 and January’s 51.4. The index measures business growth and contraction on a scale of 0 to 100, with 50 representing neutral growth. March was the eighth straight month Minnesota’s index has stayed above the growt- neutral level. Read full story

General Growth Properties files to emerge from bankruptcy: General Growth Properties, owner of several Minnesota shopping malls, has filed a motion with a federal bankruptcy court in New York, requesting permission to emerge from Chapter 11 bankruptcy. The Chicago-based mall operator cited a $6.55 billion investment from three firms. General Growth Properties operates malls nationwide, including Ridgedale Center, Eden Prairie Center and Knollwood Mall in the Twins Cities, as well as Apache Mall in Rochester, Crossroads Center in St. Cloud and River Hills Mall in Mankato. Read full story

Mosaic Co.’s Q3 earnings fall short of expectations: The Mosaic Co.’s earnings fell short of analysts’ predictions in third quarter. Plymouth-based Mosaic earned $222.6 million, or 50 cents per share, in the company’s fiscal third quarter ended Feb. 28. That’s up 379 percent from the $58.8 million profit, or 13 cents per share, in the same period one year ago. Analysts polled by Thomson Reuters expected Mosaic earnings of 61 cents per share. Read full story

Maguire Agency buys house-moving insurer: A Roseville company that insures big moves announced one of its own today. Maguire Agency has bought Dave Pizur & Associates, a Waukesha, Wis., firm that insures the moving of houses and other large structures. Maguire did not disclose financial terms of the deal. Read full story