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Turning a Hit Tv Show Into a Branded SHEA: THE RESTAURANT GURUS | A SWEET SPOT FOR CANDY MAKERS FEBRUARY 2013 TCBMag.com TURNING A HIT TV SHOW INTO ❱ A BRANDED BUSINESS COLOSSUS. Andrew Zimmern, at his new MinniBar concept in MSP International Airport’s Concourse G. $$$ $$ $ 1942 1965 1988 2012 Red Gold had a vision. We helped make it happen. Brian Reichart had a vision to grow his family’s tomato products manufacturing company far beyond its Midwest roots. To secure the fi nancial backing and get the business support he needed, he turned to BMO Harris Commercial Bank. We’ve partnered with Red Gold for more than forty years, helping make the Reichart family vision a reality. bmoharris.com/redgold BMO Harris Bank N.A. Member FDIC www.studio-120.com 800.759.0992 [email protected] F E B RUA RY 2013 Contents Cover Photo by Travis Anderson 34The Business Behind Bizarre By Adam Platt How Andrew Zimmern is Sweet Land morphing a hit By Fran Howard cable show into The birthplace of the Milky Way, Minnesota has a a diversified, rich history in the candy business. Now even some branded network of 28 old favorites are getting a fresh look. businesses. FEATURES 42The Recipe By Adam Platt Capital Dreams Shea has figured out By Brad Allen what it takes to suc- Cornerstone Capital Management’s Andy ceed in perhaps the Wyatt bet that a ‘dream team’ of money managers toughest business out could get Wall Street’s attention. It just took a little there--restaurants. 46 longer than expected. CAPITAL OF CORNERSTONE ANDERSON; COURTESY TRAVIS BY OF ABDALLAH; COURTESY (CLOCKWISE) PHOTOS RUBINSTEIN SARA BY MANAGEMENT; 2 TWIN CITIES BUSINESS tcbmag.com FEBRUARY 2013 Four Degrees of Freedom DBA • MBA • MMIS • MPNA Doctor of Business Administration • Master of Business Administration • Master of Management Information Systems • Master of Public and Nonprofit Administration Our graduate programs give you the freedom to choose your style of learning—on campus, online, or a combination of both—with our commitment to the highest standards for all types of instruction. The most affordable high-quality doctoral and master’s programs in the Upper Midwest. College of Management choose.metrostate.edu/com/tcb 612.659.7290 A member of the Minnesota State Colleges and Universities system 9 Letters/Where Are They Now? BANKING & CORPORATE FINANCE 51 Financing’s New Rules 10 Editor’s Note By Denise Logeland SEC rulemaking is needed before last year’s JOBS Act can be fully implemented. Once it is, who will use this new 12 Intelligence Report route to capital? Minnesota business leaders plan to scale back this quarter due to politics and taxes, among other factors. 14 Starters Startup Miinome wants you to help you market your DNA. • Minnetonka’s own Stuffie was a holiday hit. DEPARTMENTS • • Northern Tool+Equipment makes a manly merger. INFORMATION TECHNOLOGY • Are federal regulations crushing community banks? 57 The Many Uses of Big Data By Jack Gordon The deluge of digital information is being mined to 22 Concierge predict which cereal the public will buy, where crime will occur, and how By Melinda Nelson Where to take out-of-town guests willing to to run for president. brave the February wind chill. 23 Personal Brand By Melinda Nelson Executive matchmaking services can help SPECIAL FOCUSES SPECIAL busy professionals accomplish their strategic romantic objectives. 24 Spotlight • Blooma • Twin Cities Public Television • GovDelivery 48 Northern Exposure By Gene Rebeck Four stories of Duluth businesses tell how the city scraped the rust off the recession. 49 Performing Philanthropy By Sarah Lutman Just like businesses, nonprofits need to know 64 Manager’s Menu when it’s time to fold. By Mary Connor Randy Witt helps restaurant managers keep an eye on the fryers in their kitchens, with online information portals. 71 Corner Office By Mark Sheffert How to change today’s number-one bad habit, COLUMNS thinking “What’s in it for me?” LOGISTICS AND TRANSPORTATION 67 The Big Rigs 72 Open Letter By Mary Connor The 15 largest trucking companies in Minnesota. By Vance Opperman Minnesota is poised to become the place where diabetes is cured. TWIN CITIES BUSINESS, Vol. 20, No. 7. © 2013 MSP Communications. The opinions of columnists are their Correction: Virtelligence founder Akhtar Chaudhri’s last own. Unsolicited manuscripts or artwork will not be returned unless accompanied by a self-addressed, stamped name was misspelled in January’s Small Business Success envelope. Telephone 612-339-7571. Fax 612-339-5806. E-mail: [email protected]. TWIN CITIES BUSINESS (ISSN 1072-673X) is published monthly, except semi-monthly in December, by MSP Communications, 220 S. Sixth Stories feature. St., Suite 500, Minneapolis, MN 55402-4507. Subscriptions available for $24.95 per year; foreign subscriptions, $169.00 per year; back issues, $8.00. To subscribe or change address, visit tcbmag.com/subscriptions.aspx. For back issue requests, contact [email protected] or 612-339-7571. Periodicals postage paid at St. Paul, MN, Clarification:A photo (left) of Don Smithmier in Decem- and at additional mailing offices. POSTMASTER: Send all UAA to CFS. (see DMM707.4.12.5); NON-POSTAL ber’s “Black Book” feature should have included mention that AND MILITARY FACILITIES: send address corrections to TWIN CITIES BUSINESS, Subscription Processing, P.O. Box 5846, Harlan, IA 51593. it was taken by Minnetonka photographer Amber Johnson. RANDY WITT PHOTO BY CRAIG BARES; PHOTO COURTESY OF STUFFIE COURTESY CRAIG BARES; PHOTO BY WITT PHOTO RANDY 4 TWIN CITIES BUSINESS tcbmag.com FEBRUARY 2013 Feel good about your money. JNBA TCBusiness Feb.13.indd 1 1/2/13 2:51 PM ear 26th Y of Service Sure Stop Floor Safety “your fast and dependable solution to any slippery floors and steps” call 763 571-1769 We resolve slippery tiles, slippery epoxy plus slippery designed concrete! www.surestop.com Get more from Twin Cities Business at tcbmag.com. INDUSTRY EXPERTS Twin Cities Business is a publication of MSP Communications 220 S. 6th St., Suite 500, Minneapolis, MN 55402-4507 612-339-7571, fax 612-336-9220 Editor In Chief Publisher Dale Kurschner Shelly Elmore [email protected] [email protected] 612- 336 -9299 612-336 -9212 Executive Editor Adam Platt CONTACT US [email protected]; 612-336-9275 To subscribe Senior Editor tcbmag.com/subscribe Ann Harrington [email protected], 612-339-7571 [email protected]; 612-336-9298 To change an address Special-Sections Editor or renew Mary Connor tcbmag.com/myaccount [email protected]; 612-336-9293 [email protected], 612-339-7571 Northern Minnesota Correspondent For back issues or Gene Rebeck missing issues [email protected]; 612-655-8658 [email protected], 612-339-7571 Research Director For reprints, PDFs Christa Meland [email protected]; 612-313-1783 [email protected], 612-336-9288 Assistant Editor, Web For permission to copy Jake Anderson [email protected], [email protected]; 612-373-9576 612-336 -9299 Assistant Editor, Research To make event reservations Nataleeya Boss [email protected], 612-336-9288 [email protected]; 612-373-9544 To advertise Copy Editor See account executive listings or Judy Arginteanu contact [email protected], [email protected] 612-336 -9288 Editorial Intern Kenzie Zimmer To submit a press release [email protected]; 612-336-9294 Send to [email protected] Design Director To pitch a story Chris Winn See editorial staff listings or contact [email protected] [email protected], 612-336 -9299 Art Director Bret Ryan [email protected] Contributing Writers Senior Account Executive Brad Allen, Phil Bolsta, Tricia Connie Van Housen Cornell, Suzy Frisch, Jack Gordon, [email protected]; 612-336-9294 Fran Howard, Denise Logeland, Senior Account Executive Sarah Lutman, Melinda Nelson, Stephanie Coogan John Rash, Mark Sheffert, Tad [email protected]; 612-336-9215 Simons, Laura Sievert, Megan Wiley Account Executive Theo Johnson [email protected]; 612-336-9211 Marketing, Events Coordinator Caitlin French [email protected]; 612-336-9288 2-13 TCB MN6 LifeTWIN College.indd CITIES BUSINESS 1 tcbmag.com FEBRUARY 2013 1/14/13 9:27:08 AM MSP COMMUNICATIONS Chairman Dwight D. Opperman CEO & General Counsel Vance K. Opperman CFO Charles F. Thell COO Nathaniel Opperman President Gary Johnson VP, Publishing Deborah Hopp VP, Production & Design Mary K. Authier VP, Editorial Jayne Haugen Olson VP, Digital Media Kevin Dunn VP, Finance & Administration John Bienias Credit Manager Dave Gschlecht Office Manager Jessica Congdon Staff Accountant Anne McPhillips Corporate Circulation Director You’re Looking At The Fast Track Bea Jaeger Director, Circulation Marketing Colleen Puent To More American Jobs. Circulation Fulfillment Manager Rebecca Bogema Recently Oklahoma soybean farmer and racing enthusiast Brent Hajek Fulfillment Coordinator sped to an amazing 182-mph in a Ford Super Duty® pick-up truck Carrie Schulze Circulation Coordinator powered by B20 biodiesel. And biodiesel is performing in even more Carin Russell Circulation Assistant important ways. A recent economic study found that production of 1.1 Dan Henry billion gallons of biodiesel supports 39,027 jobs across the country and Web Developer Jay Nelson more than $2.1 billion in household income. Proof that biodiesel is going Web Developer/ Database Manager a long way to fuel our economy. David Waters Videographer/Assistant Technical Producer Kyong Ham E-Marketing Specialist Biodiesel is Here, Now. Bryan Roberts Digital Imaging Technician Robb Mitchell Digital Prepress Group Steve Mathewson, Bill Sympson Network Administrator Steve Swanson Asst. Network Administrator Shawn Little Creative Marketing Group Sponsored by the Minnesota Soybean Katie Shaw, Janice Hamilton, Adam Marks Research & Promotion Council Advertising Production Mgr. Tim Dallum www.biodiesel.mn Advertising Artists Dustin Miller, Lauri Loveridge, Paul Marihart, Corey Callahan FEBRUARY 2013 tcbmag.com TWIN CITIES BUSINESS 7 index Names of companies and people in this issue are indexed to the first page of the articles in which they’re mentioned.
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