July 13, 2000 - DFL Senate candidate Mark Dayton has started his advertising blitz, spending more than 300-thousand dollars on television ads running statewide this week. Dayton is the third Democrat to buy up large chunks of airtime before the September primary. Attorney Michael Ciresi has had ads on the air for months, and DFL'er Rebecca Yanisch just finished a big television ad buy. In the latest in our series of Ad Watches, Minnesota Public Radio's Laura McCallum talks with analyst Dean Alger about the Dayton and Yanisch ads...
July 14, 2000 - General Mills got its start in 1866 when Cadwallader Washburn built his first flour mill on the banks of the Mississippi. Three years later Charles Pillsbury arrived in Minnesota and bought a mill himself. David Wiggins is a historian at the Minnesota Historical Society. He's come by the studio this morning. Historian David Wiggins.
July 17, 2000 - Consultants to the Metropolitan Airports Commission say if American Airlines buys Minnesota-based Northwest, the Twin Cities would likely remain a hub. But they say there would be fewer flights and airfares would probably increase. Today the MAC voted unaminously to oppose the United US Airways deal which industry observers say would trigger consolidation throughout the airline industry. Minnesota Public Radio's Mark Zdechlik reports...
July 17, 2000 -
July 17, 2000 - Golden Valley-based General Mills Inc. is buying control of Minneapolis-based Pillsbury in a 10.5 billion dollar stock-for-stock deal that would create one of the world's largest food companies. General Mills will issue 141 million new shares of common stock to Diageo, Pillsbury's London-based parent company, in exchange for control of Pillsbury. The combination would nearly double the size of General Mills to about $13 billion in annual sales. Daniel Peris is an analyst with Argus Research.
July 17, 2000 - General Mills' acquisition of Pillsbury is just the latest merger in a wave of corporate consolidation. Professor Lawrence White teaches Economics at New York University. He says unlike the 1980s, when most deals were an attempt to restructure a company's finances ... mergers today are often the result of new business opportunities.
July 17, 2000 - The fate of Northwest Airlines may not be known for weeks or months. But a number of observers say Northwest holds considerable leverage over American Airlines in merger negotiations. The two airlines began talks days after United Airlines stunning announcement in May that the nation's biggest air carrier had reached an agreement to buy US Airways. That deal has shaken up the airline industry, and may yet be rejected by federal regulators. Any sale of Northwest would probably mean a huge payday for the company's two most prominent investors, Al Checchi and chairman Gary Wilson. Minnesota Public Radio's Bill Catlin reports.
July 17, 2000 - General Mills has made it official -- it's acquiring hometown rival Pillsbury from British food and drinks firm Diageo for 10-and-a-half billion dollars. It's not the first time British and American interests have swapped Twin Cities food companies. Minnesota Public Radio's Andrew Haeg reports.
July 17, 2000 - General Mills has agreed to buy Pillsbury from British foods company Diageo (dee-AZH-ee-oh). Minnesota Public Radio's Andrew Haeg reports. The announcement came at the start of the business day in London: Diageo agreed to sell Pillsbury to General Mills for a total of 10-point-five billion dollars in cash, stock and debt. The deal is expected to be completed by the end of the year, thereafter General Mills will become the world's fifth-largest food company, with nearly 13-billion dollars in annual sales. In a statement General Mills said it will cut some jobs. It will sell off Pillsbury's North American Green Giant canned vegetables division. It also said it would sell Pillsbury's North American baked goods division. And the company says it plans to cut general and administrative staff in the next two years. But did not say how many people will lose their jobs. General Mills employs 38-hundred people in the Twin Cities; Pillsbury 32-hundred. The merger will almost double General Mills in size. It also brings a major corporate headquarters home to Minnesota, after a string of departures. General Mills management says its optimistic that by acquiring Pillsbury's brands, like refrigerated dough boy products and Haagen Dazs ice cream, it will become a contender in an increasingly global and competitive food industry.
July 18, 2000 - Minnesotans could see higher fares and fewer flights from the Twin Cities if Northwest is acquired by American Airlines. That's according to a report published this week by a Metropolitan Airports Commission consultant. The fate of Northwest may not be known for weeks or months. But some analysts say other possible mergers in the airline industry could have an impact on any negotiations. Darryl Jenkins is Executive Director of the Aviation Institute at The George Washington University. He's on the line now.