Xcel proposes expansion of Becker coal-fired plant

Xcel proposes expansion of Becker coal-fired plant

Xcel Energy wants to boost capacity and reduce emissions at its coal-fired Sherco power plant in Becker, Minn., with a $900 million expansion. The proposal would add 140 megawatts of electricity to Sherco’s current 2,400-megawatt capacity and use state-of-the-art technology to reduce emissions of mercury, nitrogen oxides, sulfur dioxide and soot, Xcel officials said Thursday. Minneapolis-based Xcel is expected to ask the state Public Utilities Commission this fall for permission to adjust its rates to recover the cost of the expansion. The PUC won’t decide the case until 2008. If it agrees, construction could begin that year and be completed by 2012.

UnitedHealth reprices execs’ options

UnitedHealth Group Inc. said former Chief Executive Officer William McGuire along with other current and former executives entered into an options repricing agreement with the company on Dec. 29. They entered into the agreement “to avoid potential surtax liability,” Minnetonka-based UnitedHealth said Thursday in a filing with the Securities and Exchange Commission. The executives include Stephen Hemsley, the new CEO, and the heads of several business units: Tracy Bahl, Lois Quam, Robert Sheehy and David Wichmann. The agreement also covers Patrick Erlandson, formerly chief financial officer, and David Lubben, who retired as general counsel and secretary in October.

Alliant wins Homeland Security contract

Alliant Techsystems won awards for rifle and pistol ammunition from the Homeland Security Department with potential value of more than $90 million. The five-year awards include an order valued at as much as $75 million to supply rifle ammunition to the Immigration and Customs Enforcement division, said Bryce Hallowell, spokesman for Edina-based Alliant. Work on the contracts will be performed by facilities in Anoka and Lewiston, Idaho.

Mosaic delays filing 2Q financial results

Mosaic Co., North America’s second-largest fertilizer producer, said it needs more time to prepare financial results for its most recent quarter because of a new accounting system. Its shares fell the most in six months. Results for Mosaic’s second quarter ended Nov. 30 were originally to be released Jan. 9, the Plymouth-based company said Thursday. Mosaic said it plans to file the results by Jan. 16, which is within the extension period permitted by Securities and Exchange Commission rules. Mosaic shares fell 74 cents, or 3.4 percent, to $20.91.


Richard Kramp on Wednesday took over as chief executive officer of St. Paul-based Synovis Life Technologies, succeeding Karen Gilles Larson, who retired after 18 years with the medical-technology company. She continues to serve as a Synovis director. The transition was first announced in June.


Pinnacle Airlines, which is a regional carrier for Northwest Airlines, flew 11 percent more passengers and fuller planes last year than in 2005. The Memphis, Tenn.-based airline flew nearly 9 million passengers in 2006, compared with 8.1 million in 2005. ”¦ Duluth-based Ikonics said it acquired the Image Mate line of screen-printing products from Franklin International of Columbus, Ohio, for $380,000 in cash, plus other considerations. ”¦ Verizon Wireless has expanded its high-speed wireless EV-DO Internet network beyond the Twin Cities metro area to St. Cloud. ”¦ Minneapolis-based Community Reinvestment Fund, a nonprofit organization that connects community development lenders with the capital resources of Wall Street, said MetLife has provided the CRF with a $5 million social investment loan.


Winmark Corp.: John Morgan, chairman, bought 9,000 shares Dec. 27 at $19.75 per share; holds 1,281,271 shares. Paul Reyelts, director, sold 6,000 shares Dec. 27 at $19.75-$19.80 per share; holds 20,000 shares.

Patterson Cos.: Lynn Askew, vice president, sold 3,500 shares Dec. 22 at $36.02 per share, option related; holds 7,829 shares.

Possis Medical Inc.: James Gustafson, vice president, sold 2,400 shares Dec. 22 at $12.76-$12.85 per share; holds 7,448 shares.

Vital Images Inc.: Jeremy Abbs, vice president, sold 4,500 shares Dec. 27 at $36 per share, option related, 10(b) b 5-Plan; holds 6,355 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.

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