Tuesday P.M. Report

Report: Twin Cities’ average income fell 4 percent in 2009: The recession has taken a chunk out of the pocketbooks of people in the Twin Cities: The per capita personal income in the area was $45,750 in 2009, down 4 percent from the previous year, according to recently released U.S. Department of Commerce data. The drop in personal income in the Twin Cities was larger than the 2.8 percent decline seen across the 366 U.S. metro areas included in the study. About two-thirds of the metro areas experienced a decline between 2008 and 2009. Despite the drop, the Twin Cities’ average income is above the national average of $40,757. Read full story

Viper Motorcycle moving to Alabama: Cue up the Lynyrd Skynyrd. Viper Motorcycle Co. is pulling up stakes in the Twin Cities and moving its operations to Auburn, Ala. Hopkins-based Viper, a manufacturer of high-end motorcycles, said today that it will move to Alabama as soon as possible. It plans to start full production there next year at a new, 63,000-square-foot facility that the city of Auburn will lease to Viper at Auburn Technology Park West. The company plans to create 100 jobs in Alabama over the next two years; Viper had six when it filed its annual report on April 15. Read full story

Granite City reduces losses in Q2: Granite City Food & Brewery’s second-quarter loss was nearly 80 percent smaller than in the same period last year as the restaurant chain boosted sales and cut administrative costs. St. Louis Park-based Granite City reported today that it saw a loss of $579,734, or 8 cents per share, for the quarter ended June 29. That compares to a loss of $2.5 million, or 94 cents per share, for the same quarter last year. Read full story

North Metro Realtors Association, St. Paul Area Association of Realtors to merge: The North Metro Realtors Association and St. Paul Area Association of Realtors plan to merge, a move leaders of both organizations say will produce savings. Those savings will mostly involve combined technical services and better deals with vendors providing training for the groups’ members, said Mandy Boldt, the North Metro association’s spokeswoman. Boldt said there are no plans at this time to cut staff. The combined organization will have more than 6,800 members. Read full story

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