Wednesday A.M. Report

Medtronic and St. Jude settle spat over executive: A former St. Jude Medical executive who defected to competitor Medtronic has settled a lawsuit with his former employer, court records show. After he abruptly left the company in May, St. Jude accused Joseph McCullough, a top sales and marketing executive, of violating a non-compete agreement, according to the Star Tribune, which reported the settlement. Court records show the case was settled on Sept. 20. Read full story

Minneapolis area home prices edged up in July: Minneapolis area home prices increased by 0.8 percent in July, according to new data released Tuesday from Standard & Poor’s Case-Shiller Home Price index. But prices in the Twin Cities metro area dropped when seasonally adjusted, by 1.2 percent, from June to July. The largest month-to-month gains were in Detroit (1.6 percent) and New York (1.3 percent) ahead of Minneapolis. July home prices were up 6.4 percent from 12 months prior in the Minneapolis metro. Read full story

Charges: St. Paul couple failed to report more than $1.2 million in business income: A St. Paul couple has been charged with felony tax crimes for not reporting more than $1.2 million in business income. The Minnesota Department of Revenue said Tuesday that Floyd Olson, 72, and Inger Olson, 75, failed to report between $150,00 and $330,000 in annual taxable income from their business, National Real Estate Traders, between 2004 and 2008. The Ramsey County Attorney’s Office earlier this month charged them each with five counts of failing to file tax returns for of those years. Read full story

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