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Honoring Five Lifetimes of Achievement in Minnesota Business WHAT KILLED THE CONDO MARKET? ; INSIDE AMAZON SHAKOPEE ; LIQUOR LYLE’S: AN ORAL HISTORY JULY 2015 TCBMag.com HONORING FIVE LIFETIMES OF ACHIEVEMENT IN MINNESOTA BUSINESS Bright ideas, bright people, better world. We’re excited to celebrate the accomplishments of the 2015 Minnesota Business Hall of Fame Honorees. These executives embody the creative and trailblazing spirit that makes Minnesota — and the world — a better place. We’re inspired every day by their commitment, fresh thinking and drive to improve the way we work and live. We thank you for your contributions to our community. Bravo! Visit ey.com ©2015 Ernst & Young LLP. All Rights Reserved. ED None. Reserved. All Rights LLP. & Young ©2015 Ernst CONTENTS JULY 2015 Page 26 Liquor Lyle’s clientele draws from all social strata, from media stars and insurance salesmen to tattooed musicians. FEATURES DEPARTMENTS 22 Northern Exposure 8 Starters A Tale of Two Rails > Bottle rockets, the key to revenue growth? A project in Duluth is evidence of major changes in the global economy. > Venerable Lee’s Liquor Lounge passes the torch. By Gene Rebeck > Downtown’s condo drought. 26 Tales from the Black Hole 13 Concierge Liquor Lyle’s has been a beloved watering hole for decades—and it’s still raging. On the Town By Chris Clayton > Give your out-of-town clients another vantage point on the Twin Cities with a memorable evening on an outdoor patio. 30 Minnesota, You Will Be Assimilated By Melinda Nelson Amazon comes to Shakopee. By Burl Gilyard 14 Plugged In 34 PeopleNet’s Data Highway Opportunities in networking this month. Leading the trucking industry from cowboys of the road to data-driven drones. By Sam Schaust By Phil Bolsta 15 Beyond These Pages COVER 39 Minnesota Business Hall of Fame TCB’s CFO Forum, plus what’s happening online this month. Celebrating Five Lifetimes of Achievement By Suzy Frisch, Fran Howard, Adam Platt and Gene Rebeck 16 Life Style Kinky Boots kicks up its heels; more amor from Cuba at Sommerfest. TRENDING 55 MANUFACTURING The Minnesota innovation tradition Despite challenges, businesses continue to find solutions. AUG NEXT MONTH By Nancy Crotti A helping hand > Twin Cities Business looks at mighty mentors who have made a difference. 60 BANKING A Tougher Row to Hoe Commodity prices mean challenges for farmers and rural lenders. By Burl Gilyard TWIN CITIES BUSINESS, Vol. 22, No. 11. © 2015 MSP Communications. The opinions of columnists are their own. Unsolicited manuscripts or artwork will not be returned unless accompanied by a self-addressed, stamped envelope. Telephone 612-339-7571. Fax 612-339-5806. E-mail: [email protected]. TWIN CITIES BUSINESS (ISSN 1072-673X) is published monthly by MSP Communications, 220 S. Sixth St., Suite 500, Minneapolis, MN 55402-4507. Subscriptions available for $24.95 per year; foreign subscriptions, $169.00 per year; back issues, $10.00. 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, and at additional mailing offices. POSTMASTER: Send all UAA to CFS. (see DMM707.4.12.5); NON-POSTAL AND MILITARY FACILITIES: send address corrections to TWIN CITIES BUSINESS, Subscription Processing, P.O. Box 5846, Harlan, IA 51593. 2 TWIN CITIES BUSINESS tcbmag.com JULY 2015 .org SPONSORED BY: Archives tcbmag.com/issues The Ann Bancroft Foundation raised nearly $125,000 at the 2015 dreamXchange, > The State of Innovation: 50 “firsts” that Minnesota gave the world. triggering a match of $50,000 from The Barry Foundation. Thanks to our sponsors and 400 > How one visit fromDiners, Drive-Ins and Dives can change a guests – and the $175,000 raised – we can restaurant forever. continue fulfilling our mission: to support Minnesota girls age 5-high school graduation > PsyBar helps prevent workplace peril and conflict. in pursuit of their dreams through grants, mentorship, and alumnae networking. 1251195_14953 4.5625x7.875 4c It works for banking on your busy schedule Photography by Travis Anderson COMMENTARY 6 Editor’s Note Navigating to Greatness 17 Personal Brand By Roshini Rajkumar How Fit Is Your Brand? 18 Performing Philanthropy By Sarah Lutman Targeting Gender Norms 20 Explanation of Benefits Our convenient banking options leave more time for business By David Burda At Wells Fargo it’s easy to get your banking done when and where it How Far Employers Can Go to Make You Feel Better works for you — so you can focus on running your business. We offer: 70 Marketing Mash-Up • More than 12,000 ATMs and approximately 6,200 retail banking By Glenn Karwoski stores coast to coast Call 1-800-Ask-Glenn • Phone bankers who are available 24 hours a day, 7 days a week 71 Corner Office By Mark W. Sheffert • Wells Fargo Business Online® with Bill Pay, Mobile Banking, Mobile So You Want to Climb the C-Level Mountain, Huh? Deposit, and Direct Pay* 72 Open Letter Reach us your way — stop by, call a local banker, or visit By Vance Opperman wellsfargo.com/appointments to make an appointment. The Billionaires Are Coming! Special Advertising Supplement A Roadmap for Driving Later in Life Clarification/Correction “50 Fabulous Firsts” (June) should have said that Earl Bakken introduced the first battery- operated external pacemaker; his technology helped Medtronic become the first to commercialize an implantable pacemaker. * Availability may be affected by your mobile device’s coverage area. “The New Economics of Renewable Energy” (June) should have stated that Xcel Energy © 2015 Wells Fargo Bank, N.A. Member FDIC. All rights reserved. (1251195_14953) passes on all solar garden extra costs to its entire energy customer base. JULY 2015 tcbmag.com TWIN CITIES BUSINESS 3 Is your business ... Twin Cities Business Magazine Staff Editor in Chief Publisher Dale Kurschner Shelly Elmore [email protected] [email protected] Executive Editor Adam Platt [email protected] Trending Editor Liz Fedor [email protected] Growing? Senior Writer Burl Gilyard [email protected] Online & E-Newsletter Editor Andre Eggert [email protected] Online & E-Newsletter Writer Sam Schaust [email protected] Northern Minnesota Correspondent Gene Rebeck [email protected] Copy Editor Judy Arginteanu [email protected] Moving? Design Director Chris Winn [email protected] Senior Account Executive Traci Auger [email protected], 612-336-9214 Senior Account Executive Kylie Engle [email protected], 612-336-9215 Account Executive Theo Johnson [email protected], 612-336-9211 Marketing and Events Manager Caitlin French [email protected], 612-336-9288 Sales and Marketing Coordinator Hailey Johnson [email protected], 612-373-9584 New? Contributing Writers Phil Bolsta > David Burda > Chris Clayton > Nancy Crotti > Suzy Frisch > Fran Howard > Glenn Karwoski > Sarah Lutman > Melinda Nelson > Roshini Rajkumar > Tad Simons > Mark W. Sheffert> Megan Wiley MSP Communications Chairman Dwight D. Opperman VP, Manufacturing & Delivery Systems CEO & General Counsel Mary K. Authier Vance K. Opperman VP, Creative Director Jayne Haugen Olson CFO Charles F. Thell VP, Finance & Administration John Bienias COO Nathaniel Opperman VP, Project Management Frank Sisser President Gary Johnson VP, Digital Director Kevin Dunn VP, Publishing Deborah Hopp Credit Manager Dave Gschlecht Manager, Social Media & Audience Office Manager Amanda Joslyn Engagement Carly Reynolds Senior Accountant Anne McPhillips Director of Insights Administrative Assistant Patty Mikres & Analytics Andy Block Production Manager Tim Dallum Social Media & Analytics Specialist Production Supervisor Paul Marihart Isabelle Wattenberg Production Assistant Allison Cook Corporate Circulation Director Digital Prepress Group Bea Jaeger > Steve Mathewson Director, Circulation Marketing > Bill Sympson Colleen Puent CMS Coordinator David Roberts Fulfillment Coordinator Valerie Asante Senior Web Developer David Waters Circulation Manager Carin Russell Web Developer Ricky Hannigan Circulation Assistant Anna Buresh Mobile Application & E-Newsletter Creative Marketing Group Developer Lauri Loveridge > Katie Shaw We can help with that. Network Administrator Steve Swanson > Janice Hamilton Assistant Network Administrator Matthew Nimmo Contact Us To subscribe > tcbmag.com/subscribe > [email protected] > 612-339-7571 To change an address or renew > tcbmag.com/myaccount > [email protected] > 612-339-7571 For back issues or missing issues > [email protected] > 612-339-7571 For reprints, PDFs > [email protected] > 612-336-9288 COPIERS & PRINTERS • MANAGED PRINT • IT SOLUTIONS For permission to copy > [email protected] > 612-336-9299 IP PHONES • ON-SITE MANAGED SERVICES To make event reservations > [email protected] > 612-336-9288 SOFTWARE & WORKFLOW TECHNOLOGIES To advertise > see account executive listings > or contact [email protected] > 612-336-9288 To submit a press release > [email protected] To pitch a story > see editorial staff listings or contact [email protected] > 612-336-9299 952.925.6800 • www.loffer.com 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 4 TWIN CITIES BUSINESS tcbmag.com JULY 2015 INDEX Names of companies and people in this issue are indexed to the first page of the articles in which they’re mentioned. PEOPLE Lehman, Matt ............................................................ 30 Waldron, Patrick ...................................................... 22 Medtronic ...................................................................55
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