Your business week, 7/26 – 8/2
Friends in low(er) places: MN insurers might be lowering their rates for MNSure plans.
- However, plans through employers or Medicaid will not be affected, only to plans that consumers purchase on their own.
- Learn more: Minnesota’s health insurance rates set to stabilize for 2018
Minneapolis
Slowing down: Target is pulling its sponsorship from NASCAR.
- Target pulled out of its IndyCar sponsorship last year as well.
- Target will instead focus its sports-marketing operations on soccer, for which there will be a brand new Twin Cities stadium next year.
A surcharge for healthcare?
- Kim Bartmann, who’s restaurant empire includes names like Red Stag Supper Club, Barbette, Tiny Diner, and more, will be raising prices to cover the cost of healthcare.
- Bartmann’s restaurants have offered health care since 1993, but rising costs have forced the change in pricing to cover the difference.
- It will be a separate line item on the bill.
- You’ll be doing more for your server than just leaving a tip.
Dinkytown’s longtime Loring Pasta Bar to close.
- Purchased by longtime managers of the dancing-and-pasta joint, it will be revamped an renamed LRx.
- More details to come.
St. Paul
A not-so-junior achievement in St. Paul: Junior Achievement, a nonproft that focuses on business literacy for K-12 students through project-based learning, is moving into St. Paul’s Midway neighborhood.
- The building, at 1745 University Avenue, was formerly a charter school. It is located next door to a YMCA, and only a block from a Green Line LRT stop.
Can’t get enough of the capital city: CNBC star Marcus Lemonis buys second St. Paul-based retailer.
- Lemonis, who already acquired Gander Mountain, is now proud owner of TheHouse.com
- TheHouse.com, which also specializes in outdoor goods (from outdoor sports gear to camping equipment), has been around (though without the .com originally) since 1982.
Hillcrest Golf Course will close on October 31.
- The 96-year-old, 110-acre course will be pitched to private developers.
- The closing reflects a local and national trend of waning interest in golf: almost 40 gold courses have closed in Minnesota over the past fifteen years.
Baby, goodbye: St. Joseph’s maternity ward in downtown St. Paul is closing.
- Competition from other hospitals (including United and Children’s Hospitals only a mile away) is the cause.
12welve Eyes Brewing now open in downtown St. Paul.
- The brewery, founded by three guys in glasses (clever, yes?), is located at garden level in the historic, Cass Gilbert-designed Endicott Building.
Metro
Rustica to close its mall location.
- Rustica Cookies and Creamery, an off-shoot of the popular Minneapolis bakery, won’t stick around its Mall of America digs.
- It was only open 8 months as part of MOA’s redeveloped north wing.
New $60 million complex coming to Richfield.
- Kraus-Anderson and Inland are behind the 6-building apartment project on the Minneapolis suburb’s north side.
- Exciting? Neighborhing Edina usually gets more of the development love.
368 new homes planned for Cottage Grove.
- Called Calarosa 1st Addition, the 145-acre development will include 288 single-family homes, and 88-quad homes.
- Quad homes are four single-level homes that are attached. Sort of like town homes.
Beyond
Juicy fruit? Apple’s revenue and profits far exceed expectations during recent quarter.
- Strong computer sales as well as digital services led to the boost.
- But really, everyone is waiting for the release of the new iPhone this fall.
- Surprising? Wall Street was concerned that interest in Apple products had been waning, especially as iPhone sales are stagnant in anticipation of the latest model.
