Friday P.M. Report

Allianz Life Insurance reports $67M operating profit: Allianz Life Insurance Co. of North America said today that it posted a $67 million operating profit for the second quarter of 2010, slightly down from what it saw in the first quarter. It was also about a sixth of Allianz Life’s $415 million operating profit in the second quarter of 2009, when the markets were rebounding, versus the rough patch seen this year. Read full story

Target to open store in downtown Seattle: Add Seattle to the ranks of cities where Target Corp. is going downtown to open a store. The Minneapolis-based retail giant has bought 103,000 square feet of retail space, three stories. The site is about two blocks from Seattle’s popular Pike Place Market. Read full story

Valleyfair spending $9M on Peanuts-themed Planet Snoopy rides: Cedar Fair Entertainment plans to spend about $9 million to bring a Peanuts-themed amusement area to Valleyfair in Shakopee. Construction on Planet Snoopy is expected to start this fall, with plans to open the area in May 2011. The rides will take up the 7 acres presently occupied by Valleyfair’s Kidworks section. Read full story

Duluth restaurateur Wong dies: George Wong, a fixture in Duluth’s restaurant scene for more than 40 years, has died, according to a published report.Wong, 74, died Wednesday at St. Mary’s Medical Center, his wife, Kamlin, told the Duluth News Tribune. Wong opened the Jade Fountain in Duluth in 1968 and ran it for nearly 30 years before selling it in 1997. Read full story

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