August 29, 2000 - A state-sponsored task force presented a report to governor Jesse Ventura today on the state of Minnesota's minority businesses. The group says minority and immigrant entrepreneurs have a tougher time obtaining financing and other assistance, and suggests several ways the state government can help. Minnesota Public Radio's Andrew Haeg reports.
August 2, 2000 - For the last month, 30 minority high school students from across the country have been in the Twin Cities to take part in a nationwide program that teaches students about the business world. The students met with corporate leaders and attended seminars at the University of Minnesota's Carlson School of Management. They're learning to write business plans and create product prototypes. The students wrapped up their stay yesterday at General Mills where they presented their new products to a group of judges. Minnesota Public Radio's Andrew Haeg reports.
August 1, 2000 - Last month, General Mills announced it would acquire Pillsbury from British food and drinks conglomerate Diageo (rhymes with Dimaggio). Federal regulators and shareholders of both companies still have to approve the ten-point-five Billion dollar merger, and that may not happen until December. But General Mills' management is already making decisions that may determine whether this merger will be one of the few that truly succeeds. Minnesota Public Radio's Andrew Haeg reports.
July 26, 2000 - Minorities make up about a quarter of the country's population, but own only a tenth of all businesses. In part, that's because many minority-owned companies lack the capital and social networks that are critical to the success of any business. With that in mind, governor Jesse Ventura convened a working group of business people and academics to identify the special obstacles facing minority entrepreneurs -- and come up with ways to overcome them. The group will present a report to the governor next month. Minnesota Public Radio's Andrew Haeg reports.
July 18, 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 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 13, 2000 - General Mills is in talks to buy Pillsbury from London based food and drinks conglomerate Diageo (dee-AHZ-ee-oh) for as much as 11-billion dollars. A deal is far from certain, and General Mills is not the the only potential buyer. But a sale would bring Pillsbury's corporate headquarters home, and could prevent another company from taking over General Mills. Minnesota Public Radio's Andrew Haeg reports.
July 12, 2000 - Minnesota has long been known for its concentration of medical device and food companies. Now a number of local entrepreneurs are building a cluster of new biotechnology businesses. Several companies have sprung up around the University of Minnesota to profit from new breakthroughs in genetics. Commercial breakthroughs could help assuage critics who say the U has lagged behind in capitalizing on technological developments. But biotechis new to Minnesota, and some fear the state lacks what entrepreneurs need to thrive. Minnesota Public Radio's Andrew Haeg reports.
July 10, 2000 - it is eliminating six thousand positions. A Honeywell spokeswoman says its unlikely any of those cuts will come from the company's Minneapolis divisions. That's because the company is reportedly targeting poor performing units, and the divisions based here in the Twin Cities are doing well. Minnesota Public Radio's Andrew Haeg reports.