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Friday P.M. Report

Minnesota home sales drop 40 percent in July: Minnesota home sales dropped 40 percent in July, the Minnesota Associaiton of Realtors said today. MAR President Michael Hoffman said homeowners trying to sell face a “difficult marketplace” but said the decline wasn’t surprising, given the expiration of the federal homebuyer tax credit. “Although disappointing, it was expected that following the expiration of the federal tax credit, sales activity would slow for a few months,” he said. Read full story

Minnesota Cup finalists named: Finalists have been announced in the 2010 Minnesota Cup competition for business innovation. High Tech division finalists are Curation Station, GeaCom and Open Preferences. General division finalists are Fresh EcoHarvest, Fruchi and Go Home Gorgeous. Read full story

Opera stays in black despite attendance dip: A slight decrease in attendance couldn’t keep the Minnesota Opera from breaking even in 2010. The Minneapolis-based nonprofit said it played to 90.5 percent capacity in the fiscal year ended June 30, down from 2009’s 92.5 percent but still up from 87.4 percent capacity in 2008. The organization has broken even for the past eight fiscal years, including 2010. Read full story

Fight emerges over Madonna’s new Material Girl line at Macy’s: Madonna is facing a trademark infringement lawsuit over her Material Girl line of clothing sold at select Macy’s stores, including three in the Twin Cities area. California clothing company L.A. Triumph filed the trademark lawsuit Thursday, claiming it has been selling its own line of Material Girl clothing since 1997, according to a report from celebrity gossip site In its complaint, L.A. Triumph is asking that a federal judge declare that Madonna’s line creates “deception” in the marketplace. Read full story

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