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HS 01 this week,Wal-Mart had done nothing
<br /> s acquires Glyncotoward meeting those requirements and now
<br /> Inc.,a subsidiary of Forest probably doesn't have enough time.
<br /> en Corp.,acquired Glynco In addition, CityBusiness has obtained a
<br /> lin Minnetonka.Both compa- letter sent by the Minnesota Department of
<br /> acture sheet plastic products. - -Natural Resources to Wal-Mart that refers to FOI
<br /> tenon were not disclosed.The a Wal-Mart's decision not to complete the
<br /> I coroperations in Allied's expansion. The letter notifies the company
<br /> )lant, Aerate under the that its application to move a storm-water
<br /> ie.No layoffs are expected. outfall was consequently withdrawn.
<br /> advantage acquires IQ Wal-Mart also indicated to Oak Park Who
<br /> dvantage Inc.,Eden Prairie,has Heights city officials last year that it was
<br /> agreement to acquire Norcross, considering adding a grocery to its 90,000-
<br /> vare.Officials said the agree- square-foot store. The company has yet to
<br /> ompanies,which both produce file for the proper approvals, said Mayor o
<br /> 'Information Advantage to David Schaaf,adding,"They probably have
<br /> t t
<br /> venue and profitability and prod- enough land[to expand]." •
<br /> agreement,Information Wal-Mart has shelved the concept in this
<br /> ,e 1.96 shares of its common market for three to five years, said Bill
<br /> of IQ software.Given last Pearson, president of the United Food & ir
<br /> ce of IQ Software's stock and Commercial Workers Union Local 789 in
<br /> s outstanding,the acquisition St. Paul, which represents grocerystore
<br /> ated value of$65 million.The P
<br /> s pending shareholder approval, workers in the east metro and is watching i mpleted in October. Wal-Mart's moves closely.
<br /> The reason for Wal-Mart's delay is a
<br /> mon Hahn and Andy Sullivan combination of problems it would face here, •
<br /> at least in the short term,Pearson said.Wal-
<br /> 3 Mart currently doesn't have a good grocery
<br /> distribution center nearby,though it plans to
<br /> l Cit
<br /> INCUBATOR ,; , .
<br /> i from page 3 ho
<br /> o�_ .jo l Ilttion fund to support new businesses,an idea that
<br /> '' ,3 ` fits in well with federal requirements that
<br /> stu, a Y 9v f
<br /> banks reinvest in the communities in which.
<br /> 4an4and the ta0W�, - they are located. ,:
<br /> at the heart #fae spin •
<br /> &ott theInternalR "We can help this company and own a r
<br /> tors l thtc mpaniea , - part of it,"she said."It takes a while to be a : ( '
<br /> > ,, viable company—it is another way of lend- '-- Felt
<br /> Iders would receive one ing. Banks see it as Community LIST ;Mt
<br /> amtn firm f� �in�,�, Reinvestment Act-plus." —
<br /> dton.offlua said Grands . Jensen is also in talks with a new corpo s
<br /> d receive one share oftle-- ration.,. "'�_
<br /> ftrni tar e e y nve investors are at s o participants, although be an investor. Private =
<br /> tttty of the new,gaining com,•,g.. -., n,
<br /> catcu�•using a fomaila Jensen wants to keep the fund weighed .
<br /> • s'value�dear he toward its banking and utility base. For In' -depth local business
<br /> mpleted.Gransh
<br /> d areholders }- Despite its economic development bent, place to turn. CiltyBusi;
<br /> hap.13 percent of the new the fund is focused on making money for
<br /> µ f • investors.Attracting new ones will be easi-
<br /> er once one of the fund's graduates reaches Now you can get on the recen
<br /> the corporate acquisition or initial public. •
<br /> y on titleyour n Co lett
<br /> offering stage,he said.Comedicus is one of
<br /> the contenders, as is Med Link Medical, - Get Q free
<br /> ni1 )OitS� y
<br /> which sells surgical microscopes, and First ■
<br /> ay plans to occupy Circle Medical, which sells hypothermia n
<br /> adding when,its current machines.
<br /> ry Center runs vitt,to "Until you get that major hit,you have to
<br /> go but and convince people. Then they'll I
<br /> line up,"Jensen said. "What we offer is we
<br /> have one of the only funds in high-risk, T
<br /> high-reward ventures." ■
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