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Wednesday A.M. Report

Court upholds plans for $2B transmission line, FSI plans stock offering, J.D. Power rates Delta average for customer satisfaction, and local attorney pleads guilty to fraud.

Court upholds plans for $2 billion transmission line: The Minnesota Court of Appeals on Tuesday upheld plans for a nearly $2 billion project that would build three high-voltage transmission lines in central and western Minnesota. The Citizens Energy Task Force and the United Citizens Action Network argued the CapX2020 project of 600 miles of power lines is not needed and that other feasible alternatives would create less environmental harm. A group of 11 utilities, said the lines are needed to deliver more wind energy from the Dakotas and western Minnesota. Read full story

FSI plans stock offering: FSI International plans to offers 5.4 million shares of its common stock in an underwritten public offering at a price of $3.05 per share. The Chaska-based company, which manufactures capital equipment for the microelectronics industry, said it will use the proceeds for general corporate and working capital purposes. Read full story

J.D. Power rates Delta average for customer satisfaction: Delta Air Lines was “average” in J.D. Powers and Associates’’ annual 2010 North America Air Satisfaction Study. J.D. Power surveyed more than 12,000 airline passengers on seven measures. The Atlanta-based airline scored 640 out of 1,000 points, placing it just below the average for the seven traditional network carriers. Read full story

Local attorney pleads guilty to fraud: Michael Margulies, a former partner at Lindquist & Vennum, pleaded guilty Tuesday in federal court in Minneapolis to fraud and admitted embezzling roughly $2 million from the Minneapolis law firm. Margulies, 56, pleaded guilty to one count of wire fraud. He faces a potential maximum sentence of 20 years in federal prison. Read full story