June 9, 1998 - Wall St. today lost some interest in the merger of Norwest Corporation and Wells Fargo. The stocks of both companies declined in heavy trading. At the same time, Minnesotans are sorting out what it means to lose the headquarters of another large Minnesota corporation. Bill Catlin has this report. Norwest officials say it makes sense to go to California, which has nearly 4 times the new company's deposits as Minnesota. The move affects 830 corporate jobs, out of Norwest's Minnesota workforce of ten thousand. The Midwest banking operations will remain headquartered here. Bill Cooper, the head of TCF Financial says he was surprised that Norwest would agree
June 8, 1998 - Minneapolis based Norwest corporation announced today it is merging with San Francisco based Wells Fargo and Company, and moving the headquarters to California. The 34 billion dollar deal creates the nation's 7th largest banking company. Minnesota Public Radio's Bill Catlin reports. In recent months many observers have expected a Minneapolis bank to announce a merger with Wells Fargo, but most speculation focused on Norwest's neighbor, US Bancorp. Norwest officials have been saying they felt no pressure to be part of a big merger, despite a wave of mega-deals this year in the banking and financial services industries. Still more surprising was the decision to put the new company's headquarters in San Francisco. The new Wells
June 3, 1998 - This weekend, at the D-F-L convention in St. Cloud, democratic candidates will vote yes for a political prize whose value is in dispute. The D-F-L and Republican endorsements represent the choice of people who are active in party politics, but the endorsements are no guarantee of winning either the primary election in September or the general election. Minnesota Public Radio's Bill Catlin reports. --------------------------------------------------------- | D-CART ITEM: 2313 | TIME: 4:08 | OUTCUE: SOC --------------------------------------------------------- The endorsement typically bring with it party money, voter and donor lists, get-out-the vote activities, and sample ballots; political assets that otherwise would cost candidates hundreds of thousands of dollars. Hen
May 28, 1998 - Twin Cities United Healthcare announced it is merging with another major national health care firm, Kentucky-based Humana. Officials with the companies say the 5 and a half billion dollar deal will result in an unspecified number of jobs cuts. The company will be based in Minnesota, and retain the United Healthcare name, but observers say it's unlikely to have much affect on consumers or the health care industry in the state. Minnesota Public Radio's Bill Catlin reports.
May 12, 1998 - Last month, three massive mergers shook the banking and financial services industries, not only because of their size .... but because of the rapid fire pace of announcements. None of the companies involved is a major player in consumer banking in this state, but the situation has many observers wondering if Minnesota companies will be next. Experts say the merger fervor affects a financial services industry that is an important and large part of the region's economy. Bill Catlin has this report. SFX cars on highway. As you approach downtown Minneapolis the city's skyline is literally defined by the financial services industry. The do
May 6, 1998 - A group out to reduce tobacco use in Minnesota says the state should get tough on enforcing the law which prohibits smoking under age 18. In addition Minnesota Decides wants to ban smoking in bars and restaurants. The group is described as "a community health partnership" led by Blue Cross and Blue Shield of Minnesota. Anti-smoking activists welcome the report. They say Minnesota has fallen behind other states in smoking prevention. Minnesota Public Radio's Dan Olson reports. --------------------------------------------------------- | D-CART ITEM: 7175 | TIME: 4:13 | OUTCUE: "...SOC --------------------------------------------------------- We brag about surviving cold winters and coping with mosquitoes and we point with pride to our 25 year old anti smoking law. The Minnesota Clean Indoor Act, the first in the nation, regulates smoking in public places including restuarants and work sites. Most winters are still cold and mosquitoes still bite but the state's anti smoking effort has been
April 30, 1998 - A new government report says teen birth rates have declined in Minnesota and the nation as a whole in the first half of this decade. Minnesota participated in the trend and historically has teen birth rates significantly lower than the nation's as a whole. However, African American teen pregnancy rates in Minnesota are among the highest in the nation. Those numbers are NOT declining, even though THEY ARE nationally. Minnesota Public Radio's Bill Catlin reports: Teen birth rates declined from 1990 to 1996 nationally, to about 55 per one thousand 15 to 19 year old females. IN the first half of the 90's Minnesota's teen birth rate dropped 13 percent, a bigger drop than the national decline of 8 and a half percent. Rebecca Wright saw some of the trends a
April 21, 1998 - NOTE--THIS STORY (WHICH AIRED AT 6:50 A.M. TUES 4/21) INCORRECTLY IDENTIFIED A COMPANY. THE WRONG NAME, "INTERLINK," IS IN THIS SCRIPT. THE CORRECT NAME IS NETLINK INTERNATIONAL. WE RAN A CORRECTION THE NEXT MORNING IN THE SAME TIME SLOT. --CATLIN Minnesota is short on workers in many parts of the state. State officials say the shortage is most apparant among low and high skill job classes, with the information technology industry hit hardest. 'I-T' Companies report they are turning down business for lack of computer software and hardware engineers. Minnsota Public Radio's Bill Catlin has more.
April 10, 1998 - State lawmakers refused to enact limits on bank service charges this legislative session. In the last several years, consumer groups have issued numerous reports blasting banks for increasing fees and adding new ones at a time of record industry profits. As Minnesota Public Radio's Bill Catlin reports, legislative proposals to reign in bank fees drew more attention and support this year than they have in the past, but none survived. Jordan Ash says he's actually encouraged. Ash is the banking organizer at the activist group ACORN. He's the point man in ACORN's campaign to force banks to reduce bounced check and other fees the group says unfairly hit low
April 3, 1998 - The National Weather service issued a preliminary report indicating extraordinarily wide and long-running tornados were responsible for the damage in Comfrey, Le Center, and St. Peter on March 29, 1998. The review identified a total of seven seperate tornadoes which hit Brown, Nicollet, Le Sueur, Rice, and Dakota counties. Two, or possibly three, of the tornadoes were especially destructive "multiple vortex" tornadoes.