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Wednesday P.M. Report

Twin Cities among 97 major metros losing jobs, Target to sell Kindle at all stores, Jury deliberations start in Wells Fargo case, and Midwest economy index hits 4-year high.

Twin Cities among 97 major metros losing jobs: Ninety-six of the nation’s 100 biggest markets — Minneapolis-St. Paul included — lost private-sector jobs between April 2009 and April 2010, according to a report released this morning by the U.S. Bureau of Labor Statistics. Minneapolis-St. Paul lost 25,400 private sector jobs between April 2009 and the same month this year, the 14th most among the top 100 markets. The Twin Cities fared better on a percentage basis. The market had more than 1.4 million private-sector jobs in April 2010, down 1.74 percent decline from a year ago. That ranked in the middle of the pack among major markets. Read more

Target to sell Kindle at all stores: Target Corp. announced today that it will begin selling Amazon.com Inc.’s Kindle e-reader in all 1,740 of its retail stores starting June 6. Minneapolis-based Target become the first brick-and-mortar retailer to carry the Kindle in April, when it began selling the product at its flagship downtown Minneapolis store and 102 stores in south Florida. The devices sell for $259 each, the same price as on Amazon’s website. Read more

Jury deliberations start in Wells Fargo case: A Ramsey County District Court jury was expected to start deliberating today on whether Wells Fargo & Co. owes $400 million to several local nonprofits that claim the banking giant mishandled their investments, according to a Star Tribune report. The nonprofits suing are the Minneapolis Foundation, Minnesota Medical Foundation, Minnesota Workers’ Compensation Reinsurance Association, and Robins, Kaplan Miller & Ciresi Foundation for Children. Robins, Kaplan Miller & Ciresi partner Michael Ciresi is acting as attorney for the plaintiffs. Read more

Midwest economy index hits 4-year high: A Midwest economic indicator has risen to its highest level in four years. The May Business Conditions Index for the Mid-America region was 64.2, up from 61.7 in April. It was the sixth straight month of growth for the index, which is based on a survey of supply managers in nine states including Minnesota. An index above 50 signals economic growth in the months ahead. Read more