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Read today's Business News
Nearly six in ten minnesotans report negative well-being
June 25, 2008: MINNEAPOLIS--(BUSINESS WIRE)--Most Minnesotans are struggling to achieve satisfactory health and well-being according to initial state results of the Gallup-Healthways Well-Being IndexSM announced today. When asked to evaluate their lives, 52 percent of the respondents polled in daily surveys conducted since January are classified as struggling and an additional six percent are suffering. Factors contributing to these findings include negative workplace environments and difficulty making positive health decisions about modifiable health behaviors like diet, exercise and stress.
The Gallup-Healthways Well-Being Index initiative, which is representatively surveying 1,000 Americans each day for the next 25 years, is a new and unprecedented effort to provide a daily pulse of individual and collective health and well-being, as well as solutions for a healthy America. Based on the World Health Organization’s definition of health, the initial Minnesota findings of the Gallup-Healthways Well-Being Index were shared with an invited group of Minnesota leaders from health, business and government at an event in downtown Minneapolis.
“This is a crucial metric to allow state and local governments, employers and ultimately individuals to benchmark their well-being status and then take measurable action to improve it,” said Kevin McConville, Gallup Regional Managing Partner.
Additional key findings from the more than 2,800 Minnesota residents surveyed since January:
60 percent of Minnesota residents are either overweight (39 percent) or obese (21 percent).
71 percent of Minnesota residents have one or more health conditions, compared to 78 percent nationally.
29 percent report they are not able to perform their usual activities on one or more days last month due to illness.
ACM adds top industry executive to its leadership team
June 25, 2008: Minneapolis, MN (via press release) — ACM announced the selection of healthcare industry veteran Mary P. Bryngelson as the company’s new Executive Vice President of Business Development. An experienced leader in product development, operations, and client service management, Ms. Bryngelson will focus on strategically linking the essential components of ACM’s infrastructure—including technology, call center operations, compliance, and administration—to support corporate growth, business goals, and client needs.
“We are extremely fortunate to have Mary join our Executive Team and to be adding her wealth of experience to our work in serving ACM’s industry-leading clients,” David J. McLean, Ph.D., ACM’s Chief Executive Officer said. “As a key member of the Executive Team, I personally look forward to working directly with Mary as we continue to drive innovation in the way that drugs and services are priced, paid for, and delivered to healthcare consumers.”
Ms. Bryngelson previously headed up the Minnesota Business Unit of American Healthways, Inc. as Regional Vice President Operations, and also has held various executive positions at Prime Therapeutics, ican Inc., and UnitedHealth Group.
Meritas names Jean-Paul Bignon chair-elect
June 25, 2008: MINNEAPOLIS--(VIA PRESS RELEASE)--Meritas, a global alliance of business law firms, announces that Jean-Paul Bignon has been appointed as the organization’s chair-elect. Meritas has 164 business law firms located in 64 countries, encompassing more than 6,500 lawyers.
Bignon will actively take over as chair of the Meritas Board of Directors in April 2009, serving in this elected position for two years. In that role, he will be a key leader in Meritas’ global strategy. Prior to being named chair-elect, Bignon served as a member on the Meritas Board of Directors for two years. Bignon will take over the chair position from Ken Kallish of Minden Gross LLP in Toronto, Canada.
“Jean-Paul has demonstrated that he has the leadership and experience necessary to serve in this highly respected and valued position,” said Tanna Moore, president and CEO of Meritas. “He will be an exceptional advocate for Meritas across the world.”
Bignon is currently a partner at Paris-based Bignon Lebray & Associés, a Meritas member firm since 1996. Bignon specializes in advising medium-sized and major companies and defends their rights in the case of litigation, more precisely in real estate and commercial domains. During his tenure as chair-elect of Meritas, he will remain entrenched in his regular client work with Bignon Lebray.
“I know that I have the full support of our current chair Ken Kallish and of our president and CEO, Tanna Moore,” said Jean-Paul Bignon. “I am thrilled to work with both of them to take Meritas to even greater heights for the benefit of all of our members around the world.”
Datacard names new CEO
June 26, 2008: MINNETONKA, Minn.--(BUSINESS WIRE)--The Board of Directors of Datacard Group, the world leader in secure ID and card personalization solutions, announced that Todd Wilkinson has been named President and CEO. Mr. Wilkinson succeeds Mr. Jeffrey J. Hattara, who has announced his resignation.
Chief financial and administrative officer for Datacard Group since 2006, Mr. Wilkinson has played a critical role in propelling the company to its current success.
“The Board is confident that Todd Wilkinson is the right leader to provide the strategic focus and drive for execution that will be necessary to take the company to the next level,” said Lars Nyberg, Chairman of the Board of Directors for Datacard Group.
About Mr. Wilkinson:
Prior to joining Datacard Group Mr. Wilkinson served as chief financial officer for GE Healthcare Financial Services – HPSC, in Boston, Massachusetts. Mr. Wilkinson has also held financial management positions with GE Fleet Services in Eden Prairie, MN, GE Auto Financial Services in Barrington, IL, and USG in Chicago, IL.
A graduate of the GE Experienced Financial Leadership Program, Mr. Wilkinson also holds a master of business administration and a Bachelor of Science degree from Northern Illinois University.
Jeff Hattara, in his eight years with Datacard, guided the company to consistent growth culminating in record levels of revenue and profitability this past fiscal year.
“On behalf of the Board of Directors and the Quandt Family, I would like to extend our sincere appreciation to Jeff Hattara for his leadership,” said Mr. Nyberg.
Daniel S. O'Neill named vice president of strategy and sales of the Bloomington Convention and Visitors Bureau
June 26, 2008: BLOOMINGTON--(VIA PRESS RELEASE)--Daniel S. O'Neill has been named vice president of strategy and sales of Bloomington CVB. The Convention and Visitors Bureau attracts and secures meetings, events and tourists for Bloomington - Home of Mall of America and its 37 hotels.
O'Neill, 37, has for the past seven years acted as director, growth catalyst at Bolin Marketing heading the agency's new business sales efforts and working on Radisson Hotels and Resorts, Country Inns and Suites, Bloomington CVB, Caribou Coffee and other national accounts.
“Dan is an innovative leader who I have known for many years, he will challenge us to think different and evaluate the current way we do business”, says CVB CEO Bonnie Carlson.
Dan O’Neill said, “I am honored to join the incredible leadership team and staff at the BCVB. The BCVB has an exciting future and I am dedicated to maintaining the heart and soul of what has made it successful. My goal will be to innovate new ways of bringing the great story of Bloomington to the tourism and meeting industry.”
New ownership group purchases Russell Associates
June 26, 2008: Le Sueur -- (via press release) --Russell Associates announced that a new ownership group led by Jerry Van Oort, has acquired the assets of William Russell Associates, Inc. dba Russell Associates. Russell Associates under its new ownership, will service and support customer contracts and honor supplier agreements. The acquisition includes the use of Russell Associates name, its superior custom training design and development process, Computer Based Interactive Training (CBIT), its web-based branded tools and products: the intRAtrain Learning Management System (LMS); intRAtrain courseware for personal and professional development, SafeTrain, a turn-key safety and compliance training system; and e-CT, a web-based electronic certification testing program.
“We see a very bright future for Russell Associates”, stated Jerry Van Oort, new CEO. “The company will continue to be on the leading edge when designing, developing, and delivering custom solutions, solutions that harness technology, capturing its effectiveness and its efficiencies to fill business needs and achieve business objectives, resulting in enhanced productivity, lowered costs, and improved ROI. We will be aggressive in pursuing new and inventive uses of technology that add value to our relationship with customers”.
AAA predicts slight decrease in Fourth of July travel
June 27, 2008: BURNSVILLE, Minn.--(BUSINESS WIRE)--For the first time this decade, AAA estimates a decline in the number of Americans traveling during the Fourth of July holiday. However, AAA projects 40.45 million Americans will still travel during the July 4th weekend, down 1.3 percent, or nearly 550,000 Americans, from the 41 million who traveled last year. This is the second consecutive holiday in 2008 where a year-to-year decrease was forecasted. AAA projected a nearly one percent drop in holiday travelers for Memorial Day. The forecast includes U.S. residents traveling 50 miles or more from home.
“While the numbers of travelers are a bit lower than last year’s levels, more than 13 percent of the U.S. population will be on the road this holiday weekend despite record gas prices. Many will be taking advantage of travel bargains that are being offered by hotels hoping to boost last minute business,” said Gail Weinholzer, director of public affairs.
More than 34.2 million Americans (almost 85 percent of travelers) intend to travel by automobile, a 1.2 percent decrease from the 34.6 million people who drove to their destinations last year. Approximately 4.54 million Americans (11 percent of travelers) expect to travel by airplane, a 2.3 percent decrease from the 4.64 million who flew last year. Nearly 1.7 million plan to travel by train, bus or other mode of transportation.
“While gas prices continue to take a toll on the traveler’s budget, the travel industry is responding with discounts, promotions and other incentives to get people traveling,” Weinholzer said. “Travelers should look for free gas card offerings, breakfast promotions, kids-eat-free deals, car rental discounts, and always ask about AAA discounts.”
AAA’s Leisure Travel Index, which is based on available rates, reveals that Fourth of July travelers can expect increases in other travel costs such as air fares, car rental rates, and other services that were previously complimentary such as checked bag
NatureWorks LLC announces management change
June 27, 2008: MINNETONKA --(BUSINESS WIRE)--Marc Verbruggen has been named the new president and chief executive officer of NatureWorks LLC. Verbruggen replaces Dennis McGrew, who had held the post since Jan. 1, 2006. McGrew will remain with the company in an advisory capacity.
NatureWorks LLC is the first company to offer commercially available low carbon footprint polymers derived from 100-percent annually renewable resources. Since 2007 it has been a joint venture of Cargill, a U.S.-based provider of food, agricultural and risk management products and services; and Teijin, a Japan-based provider of synthetic fibers; films and plastics; pharmaceuticals and home health care; trading and retail; and IT products.
Verbruggen comes to NatureWorks from Teijin subsidiary Toho Tenax America, where he served as president since 2004. Based in Rockwood, Tenn., the subsidiary makes carbon fiber for the industrial, automotive, aerospace and sporting goods markets. Prior to Toho Tenax America, he served as business manager, rubber goods, in Teijin Aramid in the Netherlands. Verbruggen, 48, holds masters and doctorate degrees in aerospace engineering and brings 20 years of marketing, sales and business leadership experience.
“Marc Verbruggen’s insights into the technical and commercial aspects of performance materials will be critical to elevating NatureWorks to the next level of business performance while also continuing to drive environmental progress through real solutions that offer better sustainable choices for today and the future,” said NatureWorks board member and Teijin Executive Vice President and Chief Marketing Officer Yosh Karasawa. “We also believe that Marc can increase leverage points with Teijin’s corporate capabilities to help the joint venture, deriving synergies from both parents to accelerate market development.”
Medtronic board elects Hawkins chairman
June 27, 2008: MINNEAPOLIS--(BUSINESS WIRE)--Medtronic, Inc. announced that William A. Hawkins, chief executive officer, has been named chairman of the board of directors, effective August 21, 2008, the date of the company’s annual meeting of shareholders. At that time, Arthur D. Collins Jr., chairman of the board, will retire from the board, consistent with the transition plan that was announced in February 2007. Collins has served as board chairman since 2002.
The company also announced that Kendall J. Powell, chairman and CEO of General Mills, will become chair of the board’s corporate governance committee, also effective August 21, 2008. In this capacity, Powell will serve as lead independent director.
Collins joined the company in 1992 as an executive vice president and president of Medtronic International. He was elected chief operating officer in 1994, president in 1996 and chief executive officer in 2001. Collins served as chairman of AdvaMed, the medical technology industry organization, from 2004 to 2006. He currently serves on the boards of The Boeing Company, Cargill and U.S. Bancorp. He also is a member of the board of overseers of the Wharton School.
superDimension closes $22 million financing
June 30, 2008: MINNEAPOLIS--(BUSINESS WIRE)--superDimension, Ltd., a private company that develops minimally invasive interventional pulmonology devices, has completed a round of private equity financing totaling $22.3 million. The company’s first product, the inReach System, provides minimally invasive electromagnetic navigation (similar to GPS) to distant regions of the lungs, enabling doctors to diagnose lung cancer at earlier stages and potentially provide more timely treatment. To date, the company has treated more than 3,500 patients. “This round of financing will accelerate the company’s investment in sales and marketing to meet and accelerate the growing worldwide demand for inReach,” said Daniel Sullivan, superDimension president and CEO.
HealthPartners receives $2.5 million research grant
June 30, 2008: BLOOMINGTON --(via press release) -- The National Institutes of Health awarded HealthPartners Research Foundation a four-year, $2.5 million dollar grant to help providers personalize and improve care for hypertension.
Dr. Patrick O’Connor and his research team will partner with researchers at the University of Minnesota and Kaiser Colorado to:
assess each physician’s pre-intervention patterns of care for hypertension
identify areas for potential improvement
provide each physician with personalized learning cases and feedback
assess whether care of actual patients subsequently improves
The study runs from June 2008 through May 2012.
About 68 million American adults have hypertension. Effective treatment of hypertension, which includes avoiding salt, limiting alcohol, physical activity, weight management, and medications as needed, can substantially reduce the risk of stroke, kidney failure, heart failure, and heart attacks in those with this condition.
Minnesota employee benefits firm completes acquisition
June 30, 2008: ALBERT LEA --(BUSINESS WIRE)--Alliance Benefit Group Financial Services, Corp., announced today that it has completed its acquisition of Red Wing, Minnesota based RGS & Associates, Inc., an employee benefits consulting firm with an emphasis on healthcare. RGS & Associates, Inc. has changed its name to Alliance Benefit Group of Red Wing.
Alliance Benefit Group Financial Services, Corp. was very familiar with RGS & Associates and owner Ron Schiemann. “We have known of each other for some time, since we had some common clients,” stated Brad Arends, President and CEO at Alliance Benefit Group Financial Services, Corp.
The acquisition helps expand the healthcare practice for Alliance Benefit Group Financial Services Corp. “We have a fairly significant healthcare consulting practice and it is a robust and growing part of our organization. This acquisition complimented our existing practice,” Arends commented.
Ron Schiemann will operate the Alliance Benefit Group Red Wing office. “We work hard to offer our clients the best custom designed products and services available. To that extent I look forward to utilizing my experience and knowledge to build upon the already successful practice at Alliance Benefit Group Financial Services, Corp.,” stated Ron Schiemann at Alliance Benefit Group Red Wing.
AAA offers advice for traveling with children
July 1, 2008: BURNSVILLE --(BUSINESS WIRE)--Dealing with today’s gas prices can be stressful enough when planning a long trip in the car. Now add a few kids to the mix and figure out the safest way for them to travel. Unfortunately, traffic crashes remain the leading cause of death for kids ages 1-14.
If something just doesn’t seem right, visit CarSeatsMadeSimple.org. This site helps parents/caregivers choose the best seat for the child and the car – and install it correctly.
In addition, AAA Minnesota/Iowa offers these tips to make summer travel plans safe for children:
Seat all children until at least age 12 in the backseat.
Place infants until at least one year of age and 20 pounds in a rear-facing car seat.
Secure children from approximately age one to age four in a front-facing car seat.
Secure older children until 80 pounds and 4’ 9” tall in a booster seat.
Buckle your seat belt – everybody, every seat, every time.
Once you're on the road, it’s only a matter of time before you hear, “We're bored.” Additional planning can help kids remain occupied so the endless car ride turns into quality family time. AAA suggests the following traveling tips:
Create a special bag for each child that includes their hand-held games and music players, books, crayons, journals or small toys.
Bring a favorite pillow or blanket.
Bring plenty of snacks and drinks. It’s important for kids to be nourished if you experience delays or your vehicle breaks down.
Plan activities for the family to play - like letter and number games using license plates of other cars.
Make frequent restroom stops and give kids their much-needed physical activity.
Pack baby wipes for easy clean up of sticky hands without needing to stop.
JBL Companies launches management resolutions
July 1, 2008: EAGAN--(via press release)--JBL Companies Inc., announced that they have added a new division to their commercial real estate services firm called Management Resolutions LLC. Management Resolutions is an asset management consulting firm specializing in statutory receiverships, loan workouts, operational turnarounds and financial analysis.
The new Management Resolutions team consists of principals Jeffrey B. Larson, Dale Severson, Robert Bayer, MBA_&_CPA, and marketing support provided by Carissa Burg. This team has over 78 years of combined professional expertise in rehabilitating underperforming assets and organizations.
The mission of Management Resolutions is to create strategies and deliver solutions that enhance value. The principals of Management Resolutions are committed to client success and value creation. Through their combined expertise, real-world operational experience and complementary talents; Management Resolutions¹ principals offer cost effective, responsible, independent management of court-ordered receiverships, problem assets and portfolios with customized, timely reporting and analysis, translating into increased value of the managed asset.
Deluxe signs Preston Kelly as marketing partner
July 2, 2008: Minneapolis -- (via press release) -- Preston Kelly, formerly Kerker, has been named marketing agency partner for a Deluxe Corporation small business initiative that includes reinforcing Deluxe’s commitment to its small business customers by offering an expanded portfolio. The agency has created highly successful marketing campaigns for Piper Jaffray, Bremer Bank among other financial institutions.
Deluxe, a Minnesota-based Fortune 1000 company, helps financial institutions and small businesses grow their businesses through a wide range of innovative products and services in fraud prevention, customer loyalty and brand building. Building on its heritage as a leading check provider, today, nearly 35 percent of Deluxe’s revenue comes from non-check related products and services.
“Deluxe has created and sustained one of the most successful brands in the history of the financial services industry,” said Preston Kelly President Chuck Kelly. “Moving forward, they understand the importance of anticipating and leading the transformation in small business. Now, Deluxe is recreating their market presence and relevance– while staying true to their brand heritage. We are honored to be their partners in this brand transformation.”
Verisae names new CFO
July 2, 2008: MINNEAPOLIS--(BUSINESS WIRE)--Verisae, a web-enabled, clean technology software and services company, announced today that Gregory A. Effertz has been named Chief Financial Officer, effective immediately. Effertz joins Verisae with over 20 years of executive experience, working across a variety of technology and retail sectors. This is a new position for Verisae, which showcases the ongoing success and development at the company.
Prior to joining Verisae, Effertz, 46, served as Chief Financial Officer of Retek Inc., a developer of innovative software solutions and services for the retail industry. During his tenure with Retek, Effertz helped lead the transition of the company from a 20 employee organization with annual sales of less than $10 million to a global enterprise with annual revenues approaching $200 million and the eventual sale of Retek to Oracle Corporation. More recently, Greg held the Chief Financial Officer position with Valtira, LLC, a privately held company that is a leading provider of on-demand integrated marketing tools as a service over the Internet.
“We are very excited Greg has joined the Verisae team,” said Dan Johnson, Chief Executive Officer of Verisae. “His financial experience, extensive background in technology and retail, and ability to help our business scale is an excellent fit. We are entering a time of tremendous growth and Greg’s track record with emerging software technology companies will serve us well.”
Timberwolves launch summer grassroots campaign
July 3, 2008: Minneapolis/St. Paul – (via press release) - This summer, the Twin Cities will be overrun by Wolves. The Timberwolves today launched the team's summer season guerilla marketing campaign for the remainder of the offseason (July-September). The Wolves will be prowling around communities all over the Twin Cities metro area, participating in more than 200 events such as community parades, festivals and charity events all summer long.
The Timberwolves summer marketing campaign is part of the team's celebration of the upcoming 20th season of Timberwolves basketball in the Twin Cities. With new players added to the roster, the Wolves will be storming communities and spreading the word about the team's exceptional young talent and drumming up excitement for a new era of Timberwolves basketball. Select events will include appearances by Timberwolves mascot Crunch, the Timberwolves Dance Team, the Hoop Troop Dunk Team and Timberwolves Shootout shooting contests.
"There is no offseason for Timberwolves basketball," said Timberwolves Senior Vice President of Marketing and Communications Ted Johnson. "Through this campaign we are taking a grassroots approach to reaching our fan base and continually building our brand."
The Wolves will kick off the summer marketing campaign tonight, July 2, with the Fourth of July music and fireworks festivities at the Hilde Performance Center in Plymouth. The event in Plymouth is in celebration of this year's 150th anniversary of Minnesota's statehood.
The Wolves will be busy throughout the Fourth of July weekend, making appearances at Fourth of July celebrations in Eagan, Edina and Richfield. Timberwolves appearances feature shooting contests, prize packs, free team merchandise and a chance to win 2008-09 season tickets.
As part of the summer marketing efforts, the Wolves last week debuted re-designed team logos.
SterilMed launches new Web site
July 3, 2008: Maple Grove--(VIA PRESS RELEASE)--SterilMed, Inc., the only company that offers both medical device reprocessing and equipment repair services, has recently launched a new website at www.sterilmed.com.
“We are pleased to provide this useful tool for our customers and for the public,” said Brian Sullivan, SterilMed CEO/president. “The site highlights how healthcare facilities can save money by extending the life of their single-use devices, medical equipment and surgical instruments. These savings can be redirected to other important investments such as indigent care and new life-saving technologies.”
The redesigned site also enables SterilMed’s repair and reprocessing customers an instant and secure way to easily access order status through a password-protected portal. Healthcare facilities can track their savings from reprocessing, evaluate medical equipment repair history and download summary reports. In addition to the site’s new technical features, the graphic design and interface present a dramatic improvement. We have streamlined the site’s navigation, making it more intuitive and user-friendly.
SterilMed is one of the leading medical device reprocessors, equipment repair service providers and pre-owned endoscope equipment specialists. They have earned a reputation for high quality and extensive technical capabilities.
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