A coalition of health and environmental groups plans to stage protests today at nearly 30 Target stores across the U.S., urging the Minneapolis-based retailer to phase out selling toys, shower curtains and other merchandise packaged in or made out of polyvinyl chloride plastic. No protests are planned in Minnesota. The 60-some groups, led by the Center for Health, Environment and Justice, said Target has ignored its requests to follow the lead of Wal-Mart and other retailers in phasing out carrying products made from or packaged in PVC plastic, a suspected cancer-causing agent. In a statement, Target said it's studying the issue. "We need first to understand the availability of alternatives and suitability for mass production applications across a large number of product lines in order to make an informed decision about PVC,'' Target said.
Xcel praised for Colorado energy plan
Two years after environmentalists battled Xcel Energy Inc. over renewable energy in Colorado, the utility giant's one-time adversaries turned out Tuesday to praise the company. Members of at least three conservation and agriculture groups announced during a news conference that the Minneapolis-based utility is on a fast-track to meet the bulk of the goals in a voter-approved law on renewable energy eight years early. "The voters asked for more renewable energy and Xcel Energy stepped up to the plate," said Matt Baker, executive director of Environment Colorado. Pat Vincent, president and chief executive of Xcel-owned Public Service Co. of Colorado, said the utility will generate 10 percent of its power from renewable energy sources by the end of next year. Colorado voters in 2004 became the first in the country to require utilities get more of their power from renewable energy sources.
Hector shareholders approve buyout
Hector Communications, a Hector, Minn.-based provider of telephone, cable television and Internet access services, said its shareholders approved the takeover of the company by a consortium of Minnesota telephone companies. The company agreed to be acquired by the group — which includes Blue Earth Valley Communications, Arvig Enterprises and New Ulm Telecom — for $36.40 per share. The transaction is expected to close in 20 to 45 days. Another condition of the merger was satisfied on Oct. 4 when Alltel Corp. completed its acquisition of Mankato-based Midwest Wireless Holdings LLC, upon which Hector Communications received about $60.1 million for its ownership stake in Midwest Wireless.
IBM to cut jobs in reorganization
IBM, the Armonk, N.Y.-based computer company, said that 74 employees in its Rochester, Minn., office will either be laid off or looking for new jobs within the company as part of a reorganization of its hardware development division, which develops servers and microchips that go into IBM systems. The reorganization will result in almost 400 IBM employees seeking new positions, 100 of them currently based in Austin, Texas. Also experiencing layoffs will be IBM operations in three New York cities; Tucson, Ariz.; Raleigh, N.C.; and Burlington, Vt. Employees were notified of the change in early September and have until early November to find new jobs.
Navarre to take Tower-related charge
New Hope-based video game publisher Navarre said Tuesday that it will take a fiscal second-quarter charge as a result of Tower Records filing for Chapter 11 bankruptcy protection. Based on the results of an auction Friday of Tower assets, Navarre said it expects to take a charge of about 3 cents per share for the quarter ended Sept. 30. Analysts polled by Thomson Financial currently are forecasting second-quarter earnings for Navarre of 6 cents a share on revenue of $163 million. After the close of the auction, a federal bankruptcy judge approved the sale of California-based Tower Records to Great American Group, which plans to liquidate the music retailer.
BRIEFLY
Buca, the Minneapolis-based Italian restaurant operator, said restaurant sales increased 2.7 percent for the third quarter of fiscal 2006 compared with the same period last year. … Brooklyn Center-based Caribou Coffee said same-store sales fell 1 percent in the third quarter. … RNK Products, Burnsville, has been awarded a patent for its TR-1 telephonic stethoscope, which transmits over broadband communications networks and telephone lines. The U.S. Food and Drug Administration has approved the device. … Immedia, a Minneapolis-based maker of point-of-purchase advertising, said it has acquired an unspecified amount of the assets of Coon Rapids-based Allied Plastics, a unit of Forest Lake-based Frandsen Corp., for undisclosed terms. … Best Buy's Geek Squad unveiled a service that allows Geek Squad agents to diagnose and fix computer problems via online access.
