Thursday P.M. Report

September building permits up 38% from last year: A promising trend for the Twin Cities new housing market continued as September planned units were 38 percent higher than in September 2009 and 31 percent higher from this August. The declared value of September permits also jumped 43 percent, compared with 2009, and 15 percent more than last month, putting the Twin Cities region ahead of many other metro areas. Read full story

Clearwire launches 4G service for Twin Cities: Clearwire Corp. has launched a 4G wireless internet service for the Twin Cities. The network is available for consumers and businesses. It will also be used by Sprint for its 4G, or fourth-generation, mobile phones. Clearwire, based in Kirkland, Wash., said its network covers nearly 2.1 million people in the Twin Cities area. The territory includes the Interstate 494 and 694 loop around Minneapolis and St. Paul. Read full story

Malcom Bell gets 6 years for wire fraud in Petters case: Malcom Bell, a 45-year-old Illinois hedge fund manager who played a role in Tom Petters’ fraud scheme, was sentenced today in federal court in St. Paul to six years in prison on one count of wire fraud. Bell, who lives in Highland Park, Ill., pleaded guilty to the charge in October 2009. In his plea agreement, Bell admitted to obtaining more than $200 million from people investing in Petters Co. Inc. in 2008. Read full story

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