NEW ORLEANS
- Imagine that your home was reduced to mold and wood framing by Hurricane Katrina. Desperate for money to rebuild, you engage in a frustrating bureaucratic process, and after months of living in a government-provided trailer tainted with formaldehyde you finally win a federal grant.Then a […]
Among the 183 people who were on the Interstate 35W bridge when it collapsed, Linda Paul is a victim with a difference.
At a hearing Wednesday at the State Capitol, Paul described her injuries and her decision just last week to seek counseling to deal with the aftermath — but then said she favored legislation that […]
Billionaire investor Warren Buffett
stepped into a debate about the emergence of sovereign wealth
funds, saying the government-controlled firms are fueled by U.S.
spending overseas, not political motives.
This is our doing, not some nefarious plot by foreign
governments, Buffett, the chairman of Berkshire Hathaway Inc.,
said yesterday […]
American International Group Inc.,
the worlds largest insurer by assets, posted its biggest
quarterly loss as a publicly traded company after an $11.1
billion writedown of guarantees sold to fixed-income investors.
The fourth-quarter net loss of $5.29 billion, or $2.08 a
share, compared with profit of $3.44 […]
American International Group Inc.,
the worlds largest insurer, fell in New York trading after
reporting the biggest quarterly loss in its 89-year history.
AIG dropped $3.29, or 6.6 percent, to $46.86 at 4:03 p.m.
in composite trading. The New York-based insurer late yesterday
posted a fourth-quarter net […]
Helphire Group Plc, a U.K. supplier
of rental cars and repairs for motorists involved in accidents,
fell the most in almost 11 years after first-half profit was
short of analysts estimates and debt almost doubled.
Helphire tumbled 41 percent to 172 pence, the most since the
companys […]
UnitedHealth pays to resolve IRS issues
UnitedHealth Group Inc. disclosed that it paid $106 million in December to resolve issues with the IRS related to accounting of historical stock-option grants and other compensation. The Minnetonka health insurer will pay another $20 million in the first quarter to resolve the tax issues in connection with tax years […]
AT THE TOP
The Prouty Project, Eden Prairie, named Grayce Belvedere Young president. She was senior director of leadership development at UnitedHealth Group.
TwinWest Chamber of Commerce, Plymouth, named Bruce Nustad president. He previously served as president and chief executive officer of the Twin Cities North Chamber of Commerce.
MOVING UP
Prima North America Inc., Champlin, promoted Carl Bryant […]
A bill to compensate victims of the Interstate 35W bridge collapse took its first legislative step Thursday morning by winning approval from a state House committee.
A proposal by Rep. Ryan Winkler, DFL-Golden Valley, to set up a Sept. 11-style fund passed the Government Operations Committee on a voice vote without dissent but not without debate.
Some […]
The Federal Reserve’s interest-rate cuts last month have failed to lower borrowing costs for many companies and households, increasing the chance of further reductions from the central bank.
Companies are paying more to borrow now than before the Fed reduced its benchmark rate by 1.25 percentage points over nine days in January, based on data compiled […]