Northwest to reinvest $244 million 3Q profit

Northwest Airlines, flush with a near quarter-billion-dollar profit, said it plans to pump the income into upgrades and improvements that were put on hold during bankruptcy and a string of money-losing years. Officials said the $244 million in third-quarter earnings it posted last week is budgeted for new planes and back-to-basics spruce-ups. The Eagan-based carrier plans to replace worn-out ground equipment, refurbish customer-service areas and much more. The airline's to-do list reflects items Northwest hasn't been able to replace due to $4 billion in losses since 2001. Officials vowed that none of the money will be handed to Northwest executives as bonuses. At Detroit Metropolitan Airport, one of Northwest's major hubs, the airline will build a new cargo hangar and upgrade its WorldClub lounge, among other things. NWA traffic, capacity down last month

Northwest Airlines reported October traffic and capacity were both lower than the same month a year ago. The Eagan-based airline said traffic dipped 1 percent as it flew 5.98 billion revenue passenger miles last month, down from 6.04 billion in October 2006. Revenue passenger miles are the number of miles flown times the number of paying passengers. Capacity decreased 1.9 percent to 7.09 billion available seat miles, or the number of seats flown times the number of miles flown.Kohl's plans to build 'green' stores

Kohl's Corp. plans to make all its newly built stores environmentally friendly, meaning it will use sustainable materials and cut down on energy costs, starting with stores open next fall. The company plans to follow guidelines to earn Leadership in Energy and Environmental Design, or LEED, certification from the Washington-based U.S. Green Building Council, said Ken Bonning, executive vice president of logistics for Menomonee Falls, Wis.-based Kohl's. The changes will affect new stores the company builds, not ones that move into pre-existing buildings. The retailer plans to open 80 new stores in 2008.St. Jude heart therapy fails in study

A study released Tuesday suggests a subset of heart-failure patients who currently don't get a type of heart-device therapy made by Little Canada-based St. Jude Medical wouldn't benefit if they did. The study, which was funded by the local company and released at the American Heart Association Scientific Sessions 2007 in Orlando, Fla., looked at the impact for certain heart failure patients of cardiac resynchronization therapy, a feature of some implantable cardiac defibrillators that works to improve the heart's ability to pump by stimulating both the right and left sides of the muscle. The study found CRT did not improve peak oxygen consumption in the patients. While the report provides important information to doctors, Tim Nelson, an analyst with Piper Jaffray in Minneapolis, downplayed the impact for investors. St. Jude shares fell 74 cents to $39.92 on Tuesday.3M agrees to buy Atlanta's Bondo Corp.

Maplewood-based 3M Co. agreed to buy Bondo Corp., a manufacturer of auto body repair products, to boost sales at its largest unit. Financial terms weren't disclosed. Bondo, based in Atlanta, makes auto body filler, fiberglass repair materials and undercoatings for cars and boats. The deal is expected to close this quarter. Bondo employs 160 and is owned by Medina, Ohio-based RPM International Inc., maker of Rust-Oleum paints and DayGlo fluorescent colorants. Bondo will become part of 3M's automotive aftermarket division.

NAMES

US BioEnergy Corp., an Inver Grove Heights-based ethanol producer, said it has taken action to enhance the independence of the company's board. James Dauwalter was elected non-executive chairman, replacing Gordon Ommen, who continues as the company's CEO and president. Clifford Mesner has resigned from the board, effective Dec. 1.

BRIEFLY

Minneapolis-based PepsiAmericas Inc. and Purchase, N.Y.-based PepsiCo have completed the joint purchase of the remaining 20 percent of Sandora LLC, the leading juice company in Ukraine. ... Wings Financial Federal Credit Union, Apple Valley, announced an agreement with Eos Airlines to offer financial products and services to the U.S.-based employees of the trans-Atlantic carrier. ... Lake Area Bank, Lindstrom, Minn., signed an agreement with Anchor BanCorp Wisconsin to acquire the Minnesota assets of SC Bank. Terms were not disclosed. ... Wayzata-based Northern Oil and Gas Inc. agreed to acquire approximately 4,500 additional net acres in Mountrail County, N.D., increasing the company's leasehold interest in the county to 45,000 acres.

- Staff and wire reports