Tuesday P.M. Report

Delta sees higher Q3 passenger revenue: Fresh off its best financial performance in a decade during the second quarter, Delta Air Lines expects to report in its third quarter more passenger traffic and charges related to its Comair subsidiary. In an investor update filed today with the U.S. Securities and Exchange Commission, the Atlanta-based airline projected passenger revenue per seat mile to increase 15 percent as travel demand improves. Read full story

Petters’ former employees on hook to pay for Ponzi scheme: Dozens of former Petters Group Worldwide employees are now on the hook to help cover the $3.5 billion Ponzi scheme orchestrated by the defunct company’s top executive Tom Petters, according to a report in the St. Paul Pioneer press. Doug Kelley, the trustee in charge of the bankruptcy case resulting from the scheme, said about 70 letters have been sent out, requesting amounts ranging from about $5,000 to more than $2 million. Kelley said the hope is to work with the former employees, rather than sue them, to recover some of the lavish bonuses Petters doled out, even as he was defrauding his investors. Read full story

General Mills makes Working Mother magazine’s top 10: General Mills is one of the best companies for working mothers, according to Working Mother magazine, which placed the maker of Cheerios and Hamburger Helper in its top 10 list. Two other Minnesota-based operations, hotel company Carlson Cos. and McGladrey, made it onto the magazine’s 100 Best Companies list for 2010. General Mills is a perennial on the annual ranking; both Carlson and McGladrey have also appeared before. Read full story

Comments (1)

  1. Submitted by Robert Langford on 09/15/2010 - 01:43 pm.

    The header on the return of the money paid from the Ponzi scheme would better refect reality if it read “Employees who received stolen money are being asked to return it”, or something of the sort. Their gains were ill gotten, and they are not being asked to contribute anything that was rightfully theirs.

Leave a Reply