Minneapolis Business News - Local Minneapolis News | The Minneapolis / St Paul Business Journal 
Lender for Twin Cities' largest hotel, Hilton Minneapolis, schedules foreclosure proceedings
The lender behind the largest hotel in the Twin Cities, the Hilton Minneapolis, has set a date to begin the foreclosure process for the property. The lender plans to begin foreclosure proceedings on Oct. 11 "after failed modification discussions," according to a financial filing. Fernandina Beach, Fla.-based Haberhill owns the 821-room Hilton in partnership with Chicago-based Walton Street Capital LLC. The financial filing connected to the property’s commercial mortgage-backed securities detailed…
Locally-owned retailer Pet Evolution is well on its way to making its national franchise goals a reality. Scot Ziessman opened Pet Evolution's first franchise store in St. Cloud in June and its second in Blaine at the end of September, which joined the two corporate-run locations in Woodbury and Arden Hills. He's planning two others in Eagan and Lakeville. A self-described "serial franchisee" who owns four Massage Envy spas, Ziessman serves as Pet Evolution's regional developer for Wisconsin and…
Twin Cities suburbs make 'Best Places' rankings from Fortune, Money
A pair of Twin Cities suburbs on opposite sides of the metro area have drawn praise from two new rankings of great places to live. Fortune magazine, in an inaugural ranking of 25 best cities in the United States for families, picks the northeast metro city of Woodbury as No. 14. Meanwhile, Chanhassen makes a repeat visit to the venerable Money ranking of "Best Places to Live." Fortune's new ranking highlights areas in the U.S. where multigenerational families are most likely to have access to…
Target details October Deal Days, gets head start on Amazon for holiday discounts
Target Corp. (NYSE: TGT) on Monday shared more information about its plans for its October Deal Days event, including what products will be on sale for the holiday-season kickoff promotion. But the most important detail may be a decision made by Target rival Amazon.com. The Minneapolis-based retailer said this year's Deal Days will offer four times as many sales offers as last year, with discounts on popular holiday items like Xbox consoles from Microsoft Corp., toys from Walt Disney Co. and kitchen…
2023 40 Under 40 nominations are open for top young Minneapolis/St. Paul business leaders
The Minneapolis/St. Paul Business Journal has opened nominations for the 2023 40 Under 40 awards, our annual recognition of the region's high-achieving young business leaders. Judges will select 40 honorees under the age of 40 based on their professional accomplishments, community contributions and demonstrated leadership. Past recipients include Minnesota Timberwolves and Minnesota Lynx President Ethan Casson, WCCO radio host Jason DeRusha, Turnsignl founder Jazz Hampton and Peace Coffee CEO Lee…
Building expansion among new upgrades coming to MSP's Concourse G
The Metropolitan Airport Commission is moving ahead with plans for the airport's Terminal 1.
5 ways to make pharmacy benefits better for HR managers
One of the coolest parts about working in HR is being able to help employees improve their health and well-being through impactful health benefits. But, sadly, one of the most challenging aspects of being in HR can be choosing and managing health benefits. That’s partly because of all the administrative things that can go wrong, and the momentous responsibility of making the best, most cost-effective choice. And that’s especially true when it comes to prescription drug benefits, where costs…
Why company bosses should brush up on biochemistry
Company leaders can often get away without knowing much about science. But a basic understanding of the science behind pharmaceuticals can boost your bottom line when it comes to health benefits. Here’s how. A high-priced category of drug therapies for rare or chronic diseases, known as specialty drugs, drives employers’ health plan costs up fast. Often of biological origin, with complex molecular structures, these drugs require medical oversight, patient support and expert handling and administration.…
As threats escalate, businesses turn to continuity planning
Over 83% of risk managers updated their business continuity plans in 2021, while 77% of risk leaders believe new challenges and threats are rapidly emerging in business, according to a 2021 global risk management study by IT services company Accenture – indicating that continuity planning is an ever-increasing priority among businesses. Planning for a fast-paced and rapidly changing business environment is a challenging task but it is crucial to business success. One way to ensure companies are…
4 questions to ask before signing your next pharmacy benefits contract
The very idea of managing pharmacy benefits might make you nauseous. That's because drug prices are skyrocketing, creating significant challenges for your company's bottom line. You may think that your pharmacy benefit manager (or PBM) – who is responsible for handling contractual relationships between drug manufacturers, health insurance providers, pharmacies and patients – would negotiate the best possible deals for everyone involved. Unfortunately, recent reports from the PBM Accountability…