Insight News

Tuesday
Oct 21st

Business

Minnesota Department of Commerce collects $1 million in penalties from national settlement

The Minnesota Department of Commerce collected $1 million in penalties this week from a national mortgage settlement announced in February. Forty-nine states including Minnesota joined the $25 billion settlement which involves the nation’s five largest national mortgage lenders: Bank of America, JP Morgan Chase, Wells Fargo, Citibank, and GMAC/Ally Financial.

“The mortgage crisis has left in its wake a path of foreclosures and financial distress for hundreds of thousands of Minnesota families,” said Commerce Commissioner Mike Rothman. “Over the last seven years nearly 136,000 Minnesota homes have gone into foreclosure, and one out of every 905 homes in Minnesota received a notice of foreclosure last month.

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Best Practices: Decide Delete Decline

Start every day with a list?  Yawn.  Actually refer to the list throughout the day?  Okay, sure.  Start every day by crossing off most of what is on that list?  Now we’re talking!

People who manage time for a living say the best list is the one that frees us up to tackle the items that matter:  what will have the most impact over the shortest period of time?  In three quick steps, you can have more summer in your days, more vacation in your summer and more productive work hours when not working isn’t an option.  Simply decide, delete and decline.

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Interview TMI: Make a long story shorter

Something everyone knows, but it’s nice to be reminded:  People who interview people for jobs enjoy asking questions.  They do it naturally, and enjoy it, actually.  So, the next time you’re in the interview hot seat, refrain from telling lengthy, exquisitely detailed stories, and instead let the interviewer lead the conversation.

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Unique public-private partnership in China: GREATER MSP and State Trade Office join forces to stimulate export and attract investment

Recently, the Minneapolis Saint Paul Regional Economic Development Partnership (GREATER MSP) and the Minnesota Trade Office (MTO) unveiled their co-located offices in Shanghai. 

The Greater MSP China Center aims to increase foreign direct investment in the Greater Minneapolis Saint Paul metropolitan area as well as promote trade between member companies and China while the Minnesota China Trade Office will focus on increasing Minnesota exports to China with the goal of stimulating the Minnesota economy and creating new economic opportunities through foreign direct investment for the entire state of Minnesota. 

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Finding confidence and contacts at conferences and trade shows

Anna writes, “I won a fellowship to attend a weeklong conference.  I am overwhelmed.  My resume is pending critique from the career services department at school, I am waiting to find out which companies will be at the conference so I can figure out how to woo them into hiring me, and I have finals right when I come back.  I know this conference will be highly educational but I am most nervous about how to dress business casual.  I should be studying my wind power and electrical engineering knowledge, but I am more worried about finding shoes to go with the suit my sister sent me.  The whole concept is foreign to me!”

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Minnesota leads the way in $146 million nationwide settlement agreement

Minnesota leads the way in $146 million nationwide settlement agreement

A settlement agreement between the American International Group, Inc. (AIG) and its affiliates with all states and the District of Columbia has become fully effective, Commissioner Mike Rothman announced recently.  Minnesota was one of eight leading states to conduct a Multistate Market Conduct Examination that revealed AIG misrepresented its workers’ compensation insurance premiums to reduce their taxes and assessments, resulting in the $2.1 million settlement for the State of Minnesota.

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This is how success looks: Maynard Jackson International Terminal at Hartsfield-Jackson International Airport

This is how success looks: Maynard Jackson International Terminal at Hartsfield-Jackson International Airport

6pm:

We are sitting in the 2nd floor food court at the new international terminal at Atlanta’s airport. We are glad to be here because this is what Ambassador Andrew Young talked about when he addressed the Minneapolis Urban League annual gala on May 31st.

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