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Monday P.M. Report

Minnesota fourth for job market growth, Western Petroleum to be sold Medica partners with OptumHealth on accounts, and General Mills sells bakery chain.

Minnesota is fourth in nation for job market growth: Minnesota has added more jobs in the past year than all but three states, according to new federal employment data. With 23,200 new jobs from July 2009 through July 2010, Minnesota trailed only Texas, Indiana and Massachusetts in employment gains, figures from the U.S. Bureau of Labor Statistics show. Thirty-one states — including Minnesota — increased their nonfarm employment totals between July 2009 and July 2010. Nineteen states suffered declines, while Wyoming was unchanged. (The number of states adds to 51 because the federal report includes the District of Columbia.) Read full story

Western Petroleum to be sold for at least $95 million: Eden Prairie-based Western Petroleum Co. will fetch at least $95 million in a sale to World Fuel Services Corp., the companies said today. Miami Springs, Fla.-based World could pay up to $20 million above that price depending upon the value it places on Western’s assets at closing. Western is one of the largest independently owned petroleum marketing companies in the United States, with 2009 volumes of more than 500 million gallons of gasoline and diesel fuel and about 100 million gallons of aviation fuel. Read full story

Medica partners with UnitedHealth’s OptumHealth on health savings accounts: Medica is turning to UnitedHealth Group’s OptumHealth subsidiary to enhance the types of consumer-directed health plans it’s able to offer to business’ workers. The partnership with OptumHealth Financial Services is expected to start Jan. 1. OptumHealth would provide health savings accounts, health reimbursement accounts and flexible spending accounts to Medica’s consumer-directed health plan customers. Read full story

General Mills sells Delicity bakery chain: General Mills is selling its Argentinian bakery chain, the company said last week. The Golden Valley-based food manufacturer said in a news release that it plans to sell Delicity’s brands, rights and five company-owned shops to Argentina restaurant chain owner Tentissimo Group. Another 54 shops are operated by franchisees. Delicity opened in 1986, and was acquired by General Mills as a Pillsbury Co. holding in 2001. Read full story