Nonprofit, nonpartisan journalism. Supported by readers.


Friday A.M. Report

College City Homes liquidation sign of times for banks: College City Homes, a more than 40-year-old, family-owned homebuilder, has filed for Chapter 7 liquidation, buried under $4.6 million in debt. The bankruptcy lists Premier Bank Minnesota, which is owed $3.6 million, as the company’s largest creditor. It’s a big-dollar example of what is going on all over the Twin Cities: Small homebuilders fall into trouble and hammer small banks’ finances. Read full story

Report says Minnesota women face pay inequality: Despite making up nearly 51 percent of Minnesota’s workforce — among the highest ratio in the nation — women in the state continue to face a number of disadvantages with respect to their male counterparts, according to a report released Thursday. The Women’s Foundation of Minnesota, working in collaboration with the University of Minnesota Humphrey Institute’s Center on Women & Public Policy, found that white women earn 76 cents on the dollar, compared with white men in Minnesota. African-American, Latino and American Indians make 61 cents, 56 cents and 69 cents, respectively. Read full story

Former ATK CEO Murphy made $9 million last year: Daniel Murphy Jr., the former CEO of Edina-based defense contractor Alliant Techsystems, received $9.26 million in compensation last year, up from $6.84 million he was paid in fiscal 2009. Murphy stepped down as an executive officer in November 2009, citing personal reasons. He didn’t officially leave ATK, however, until the company’s fiscal year ended March 31. Read full story

Judge won’t block new turf at Metrodome, but fight continues: A Hennepin County judge has refused a request from the former supplier of turf in the Metrodome to stop the Metropolitan Sports Facilities Commission from installing a competitor’s product. The lawsuit was filed by Peachtree, Ga.-based FieldTurf USA last month in federal court in Minneapolis. Read full story

You can also learn about all our free newsletter options.

No comments yet

Leave a Reply