Company News
Published 08/29/01
Medtronic Inc., Fridley, has completed its acquisitions of
MiniMed Inc. and Medical Research Group Inc. MiniMed and
MRG will be combined to create Medtronic MiniMed, based in
Northridge, Calif.
Orphan Medical Inc., Minnetonka, said it received Food
and Drug Administration approval for an amendment to its
application for Xyrem, a treatment for narcolepsy, providing
additional data to address FDA safety concerns.
Active IQ Technologies Inc., Minneapolis, and Rooster.com
have agreed to jointly market agricultural products and
services. Active IQ is the parent of Red Wing Business Systems
and AgCHEK Accounting.
United Shipping & Technology Inc., Minneapolis, named
Vince Wasik chairman, replacing Peter Lytle, who retired.
Wasik is a co-founder and principal of private equity firm
MCG Global. United Shipping also named Alex Paluch a
director. Paluch is a general partner at investment firm East
River Ventures Partnership. Lytle will return to the Business
Development Group, Wazyata, where he is acting manager.
MilePoint.com, Minneapolis, an Internet company that
allows frequent travelers to use their miles and points as
payment toward online purchases, has added Chase Manhattan
Mortgage Corp. and CitiMortgage to its list of merchants.
NOTE: BOLD EMPHASIS ADDED BY ME jimS
The National Association of Securities Dealers has
announced the following disciplinary measures for alleged
violations of NASD rules and securities laws:
Protective Group Securities Corp., Minneapolis, and
principal Michael Flannigan were fined $25,000. Flannigan
was barred from association with any NASD member in any
supervisory capacity, based on the finding that the firm allowed
individuals not registered with Protective to engage in
Protective's securities business.
R.J. Steichen & Co., now known as Miller Johnson Steichen
Kinnard Inc., Minneapolis, was fined $19,505 without
admitting or denying that it permitted individuals to conduct a
securities business and to act in registered capacities when their
registrations had lapsed.
Michelle Marie Niska-Baird of Maple Grove was barred
from association with any NASD member without admitting
or denying that she directed a $498,672.24 wire transfer from
her employer, American Express Financial Advisors, to an
account she controlled, and converted the funds to her own use
and benefit.
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