Northwest Airlines said it has scaled back expansion plans for this year to no more than a 1 percent increase in available seat miles, compared with a previous plan to boost capacity by as much as 2 percent. Available seat miles refers to seats available for sale on a carrier. Northwest spokesman Roman Blahoski declined to comment on why the Eagan-based carrier is cutting its growth plans. Northwest Chief Executive Doug Steenland announced the change in expansion plans during an investor presentation in New York Wednesday. The airline's second-quarter cost per seat mile was the lowest among the six large U.S. network carriers, while its operating margin was the highest, Steenland said in his presentation. Northwest shares rose 14 cents to $17.65 Wednesday. Woodbury Trader Joe's opens Oct. 5
Woodbury, get ready for lots of $3 bottles of wine. Trader Joe's opens Oct. 5 at Woodbury Lakes. The California-based gourmet grocer is a sure bet to draw swarms of shoppers, just as it has in St. Louis Park and Maple Grove for its $3 Charles Shaw wine, inexpensive microwavable meals, trail mixes, organic and gourmet products. After the St. Louis Park store opened in spring 2006, officers directed traffic around the parking lot for months. It was the second highest volume opening weekend ever for the chain outside of Manhattan. Retail observers also anticipate that Trader Joe's could be a big enough draw to inspire A-list brands such as Abercrombie & Fitch, Anthropologie, P.F. Chang's China Bistro, Pottery Barn and Williams-Sonoma to open in Woodbury.Smaller Big Stone II costlier to run
A smaller version of a proposed coal-fired power plant in South Dakota likely would cost more to operate than the 630-megawatt plant originally planned until two Minnesota utilities announced they were backing out. The proposed Big Stone II plant now likely would have a generating capacity of about 500 megawatts, said Dan Sharp, a spokesman for the Big Stone II utility partnership. If a 500-megawatt plant were built, electricity likely would cost 5 percent more to generate, based on preliminary estimates, said Ward Uggerud, a senior vice president for Otter Tail Power of Fergus Falls, the lead Big Stone II utility. Partners and environmental critics of the plant were gearing up to present oral arguments Oct. 4 over transmission lines. The Big Stone II partners are asking that the hearing before the Minnesota Public Utilities Commission be delayed.Morrissey plans Minneapolis hotel
The company that runs the St. Paul Hotel is behind the Hotel Minneapolis opening next August in the Midland Building. Morrissey Hospitality is partnering with Hempel Properties of Maple Grove to develop the 224-room hotel at Fourth Street North and Second Avenue in downtown Minneapolis. The hotel will feature a conference center and signature restaurant and be a member of the Doubletree brand and Hilton Hotel network.
BRIEFLY
Wireless Ronin Technologies, a Minnetonka-based maker of digital-signage systems, said its common stock listing will move to the Nasdaq Global Market from the Nasdaq Capital Market, effective Friday. ... US BioEnergy Corp., an Inver Grove Heights-based producer of ethanol, said it was selected by Nasdaq as one of 17 companies that will be featured in the stock market's new advertising campaign. ... Arthur J. Gallagher Co., Itasca, Ill., acquired Spanjers Insurance Agency of Mendota Heights for an undisclosed amount. George Spanjers and his associates will continue to operate the retail insurance brokerage at its present location. ... Eden Prairie-based Cambria, the exclusive producer of natural quartz surfaces in the United States, said fashion icon Cheryl Tiegs will serve as the company's national spokesperson.
INSIDER TRADES
Datalink Corp.: Robert Beyer, vice president, bought 5,000 shares Sept. 12 at $4.59 per share; holds 10,000 shares. Greg Meland, chairman of the board, sold 1,200 shares Sept. 17 at $5 per share; holds 3,042,890 shares.
Lenox Group Inc.: Connrad Bringsjord, director and beneficial owner, bought 97,500 shares Sept. 12-14 at $4.99-$5.42 per share; holds 2,198,817 shares.
PepsiAmericas Inc.: Anne Sample, vice president, sold 47,400 shares Sept. 11 at $30.22-$30.53 per share, option related; holds 6,191 shares.
St. Jude Medical Inc.: Daniel Starks, chairman, sold 80,000 shares Sept. 12 at $46.01-$47.03 per share, option related, 10(b) 5-1 Plan; holds 6,004,792 shares.
Trading of company stock reported to the Securities and Exchange Commission, according to Bloomberg News; holdings include only common shares owned and do not include stock warrants or options.
- Staff and wire reports
