August 8, 2008, 3:45 pm
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Business


Hutchinson Technology reports loss, but is encouraged by recent developments

For the second consecutive quarter, Hutchinson Technology Inc. reported a net loss Tuesday. But the news wasn’t all bad.

Wayne Fortun, president and CEO of the company that makes suspension assemblies for disc drives, told investment analysts that he’s encouraged by development in the company’s disk drive components and biomeasurement divisions.

“In our disk drive components division, we estimate we gained share in the overall market and as a result, we delivered a sequential increase in net sales,“ Fortun said during a conference call.


Before passing on your business, assemble your team of experts

Successfully passing on a family business is a team effort.

Both Neil Jensen, a 32-year veteran Hutchinson attorney, and Scott Ziegler, an accountant with Piehl, Hanson, Beckman for 10 years, agree the first step is to assemble a quartet of experts.

Jensen and Ziegler said an attorney, accountant, financial planner and insurance agent should all be consulted when one is preparing an intergenerational succession plan.


3M’s global strength enables record second-quarter sales and earnings

3M’s strong global portfolio enabled the company to report today second-quarter sales of $6.7 billion, an increase of 9.7 percent over the second quarter of 2007.

Net income was $945 million, or $1.33 a share, versus $917 million, or $1.25 a share in the corresponding period last year.

The company operates its largest North American manufacturing plant in Hutchinson.

3M’s three largest businesses — Industrial and Transportation, Health Care and Safety, Security and Protection Services — grew at double-digit rates.


County wants group to study economic development authority

The McLeod County Board wants a working group to look at the pros and cons of a countywide economic development association.

Tuesday, the board charged a group of four countywide EDA supporters to help draft a list of potential working group members. The EDA supporters include:
• Dan Ehrke, Glencoe Chamber of Commerce executive director,
• Brent Mareck, Winsted city administrator,
• Miles Seppelt, Hutchinson economic development director, and
• Kerry Venier, Silver Lake city clerk.


July 23, 2008 - 8:12am
New call center open for business

The first 10 call representatives working in Customer Elation’s new Hutchinson call center were at work last week in the company’s new facility on Fifth Avenue Southeast. The company plans to employ 100 people within two years.

For the complete story, see the July 22 print edition of the Hutchinson Leader.



New call center open for business

Its work force isn’t large at this point, but Customer Elation, the latest company to come to Hutchinson’s industrial park, is ready for growth when it comes.

The Bloomington-based in-bound, customer service center opened its 22,200-square-foot facility along Fifth Avenue Southeast last week. It currently rosters about 10 employees, but has room to eventually have 325 computerized work stations, president and co-founder Peter Hainey said Thursday.


State adds jobs, unemployment rate down slightly

ST. PAUL — Minnesota gained jobs for the second consecutive month in June, with employers adding 3,400 positions on top of the 2,500 jobs that were created in May, according to figures released last week by the Minnesota Department of Employment and Economic Development.

Those increases came after Minnesota employers trimmed 10,100 jobs in April. However, overall the state has added 1,900 jobs through the first half of the year, compared with a U.S. loss of 438,000 jobs during that period.


Oil pipeline construction on track

Construction of a new 24-inch, 300-mile crude oil pipeline is on schedule through McLeod County on its way to oil refineries in the Twin Cities.

According to Minnesota Pipe Line Co. spokesperson Patty Dunn, the pipeline route has been cleared and graded. Sections of pipe are being laid along the route and digging of the trench is scheduled to start within a week.

Dunn said McLeod County construction should be complete in several weeks, barring delays due to weather and other factors. The entire pipeline is scheduled to be finished and operational in October.


Anthony Jensen new Gold Country Seed CFO

Gold Country Seed, based north of Hutchinson along State Highway 15, has named Anthony “Tony” Jensen as its chief financial officer as of July 14.

“As our business continues to experience rapid growth, Tony’s experience will greatly assist our ability to manage our business,” Gold Country Chief Executive Officer Dennis Sjogren said.


Foundation’s mini-documentary judged best in state

The Southwest Initiative Foundation’s mini-documentary titled “Just Imagine” received the Marketing Award during the summer conference of the Economic Development Association of Minnesota.

Southwest’s communications specialist Karen Grasmon accepted the marketing award last month from Association President Cathy Bennett.


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