January 18, 2002 - 3M reported its fourth-quarter and year-end earnings today amid announcements of plant closings and job cuts. The company's profits dropped, but analysts say the fall off was reasonable considering global economic weakness. Minnesota Public Radio's Andrew Haeg reports.
January 16, 2002 - US Bancorp is nearing the first anniversary of its merger with Firstar. The deal brought together two brothers in a bid to create a fast-growing regional bank. But one year on, the merger hasn't yet lived up to investors' expectations. Minnesota Public Radio's Andrew Haeg reports.
January 11, 2002 - The Ford assembly plant in St. Paul has survived a massive companywide restructuring. The company says it will not slow production at the St. Paul plant (nor will it) or lay off any workers there. The news brought relief to union officials at the plant. But that relief was mitigated by concern for colleagues who lost their jobs, and by concerns over the long-term future of the St. Paul facility. Minnesota Public Radio's Andrew Haeg has more.
January 8, 2002 - Three of Sun Country's creditors have forced the airline into bankruptcy court. They want the court to liquidate the airline so they can recoup more than three million dollars the airline owes them. The filing may jeopardize the airline's plans to resume operations under new ownership. Minnesota Public Radio's Andrew Haeg reports.
January 7, 2002 - Shortly after September 11th, there was widespread speculation of what form the next attack would take. Some thought it likely that terrorists would go after the heart of capitalism -- corporations. That speculation, coupled with new and evolving terrorist threats, spurred companies around the state to reassess and strengthen their security procedures. Minnesota Public Radio's Andrew Haeg has the first in our series of reports on How We've Changed.
January 7, 2002 - The Ford Motor Company plans to announce Friday a major restructuring plan. Analysts say the company will close some plants and cut as many as 20 thousand jobs. The restructuring isn't good news for the two-thousand employees at the Ford plant in St. Paul. But Union leaders in St. Paul say the facility and its workers will likely emerge from the restructuring unscathed. Minnesota Public Radio's Andrew Haeg reports.
January 1, 2002 - Shoppers in Minnesota and across the nation bought slightly more this holiday season than they did last year. Topping their lists were electronics and other home-related products. Analysts say the impulse to buy such goods gained strength after September 11, when many people appeared to feel that staying close to home was a good idea. The trend was good news for Twin Cities based retailers Target and Best Buy. Minnesota Public Radio's Andrew Haeg reports.
December 13, 2001 - The St. Paul Companies announced yesterday it would stop offering medical malpractice insurance. The announcement came as part of a broad cost-cutting initiative that included hundreds of layoffs. The decision to end medical malpractice insurance dealt a blow to many long-term care providers in Minnesota and across the country. For many nursing homes in the state, the St. Paul was the last company to offer insurance at reasonable rates. Minnesota Public Radio's Andrew Haeg reports.
December 12, 2001 - The largest private employers in downtown Minneapolis and St. Paul, American Express and the St. Paul Companies, have announced plans to lay off hundreds of employees. American Express says it needed to cut jobs because of a sharp downturn in the financial services industry since September 11th. The cuts at the St. Paul were part of a sweeping new restructuring plan. Minnesota Public Radio's Andrew Haeg reports.
December 7, 2001 - Sun Country Airlines laid off most of it's employees today. The layoffs were the latest in a series of moves the company made to limit its losses and to prepare itself for a buyout. The layoffs bring the total number of airline job cuts in the state to almost six thousand since September 11th. Minnesota Public Radio's Andrew Haeg reports.