Twin Cities Business

06/19/2026

St. Paul Corner Drug, one of the city's last independent pharmacies, says the busier it is, the more money it loses. The drugstore can’t break even on two-thirds of the prescriptions it fills. Hildie Hoeschen, the mail order and creative director, says pharmacy benefit managers (PBMs)—intermediaries that manage prescription drug costs for insurers, employers, and Medicare—provide St. Paul Corner Drug with reimbursement lower than the cost to buy inventory and fill prescriptions. PBM practices are one of the main reasons approximately 61% of independent Minnesota pharmacies have closed in the past decade.

Looking to turn a profit elsewhere, SPCD changed its business model in recent years. Learn more on our website, linked below.

Independent pharmacies have mostly closed in Minnesota, leaving drugstores like St. Paul Corner Drug to pick up the slack.

06/17/2026

The Oreo Blizzard is Dairy Queen's most popular Blizzard, and it has been for a long time. But Dairy Queen doesn't make Oreos. In this week's episode of The Twin Cities Business Show, the company's head of Research and Development, Jane Freidrich, shared with us how their team had to adapt after the formula for Oreos changed.

06/17/2026

As thousands of college graduates enter the workforce this summer, Minnesota’s Innovation Scholars program is helping some students get a head start in medtech, health care, and entrepreneurship.

The program, which recently celebrated its 20th anniversary, connects top undergraduate students from Minnesota private colleges with real-world commercialization projects from organizations including Mayo Clinic, NASA - National Aeronautics and Space Administration, and emerging medical technology companies. Participants work in multidisciplinary teams to evaluate new technologies, conduct market research, and develop business recommendations.

From patent research to startup collaborations, learn more on our website about how Innovation Scholars continues to build a talent pipeline that connects students with the state’s business community.

Through the Innovation Scholars program, students gain experience in advancing scientific breakthroughs and assessing product viability.

06/16/2026

The 2026 entrants to the Minnesota Business Hall of Fame have led in difficult, changing times, leaving their businesses and communities stronger. EisnerAmper’s Beth Kieffer Leonard, Opus’ Tim Murnane, Sunrise Banks’ David Reiling, Shea’s David Shea, and nVent’s Beth Wozniak made their marks in very different fields, but common denominators of respect and gratitude are manifest in those who know and work with them. We welcome them to this distinguished “club.” Read our profiles of each inductee below.

Honoring five Minnesota business leaders who've left lasting imprints.

06/16/2026

What would it take to tear down empty skyscrapers in the downtowns of Minneapolis and St. Paul? If a marketing push or residential conversion just won't take, what about a third option, a fairly taboo one that has taken up more and more of the conversation lately: demolition?

The sadly underutilized office tower would have to come down a floor at a time, top to bottom—basically construction in reverse. It would be imperative to contain debris, ensure public safety, protect neighboring buildings.

How much would that cost? Is this consideration seriously on the table? And under what circumstances (ahem, a new basketball arena) would it be financially feasible? Click the link below to read more.

It may sound simple, but the math is tricky.

06/12/2026

Nearly 40 years after its founding, Erpelding Wealth Management has made its first change in ownership. The Golden Valley-based firm, which today manages $2 billion in assets, transitioned ownership from founder Michael Erpelding to three partners. More on the story below.

In almost 40 years, Erpelding Wealth Management has grown from roughly 50 clients to 500 and $2 billion in assets.

06/12/2026

Artificial intelligence and data centers are stirring strong emotions in Americans, because many fear that AI will take their jobs and data centers will drive up the costs they pay for electricity and water. Entering the fray to take on these hot button issues are top executives of Ecolab. The St. Paul-based company will spend $4.75 billion to buy Calgary-based CoolIT so their technologies can be paired to efficiently cool the microchips in data centers and dramatically reduce water used in the centers.

TCB senior editor Liz Fedor spoke with Ecolab CEO Christophe Beck about the chip cooling challenge and the company's growth beyond data centers. Read the full story in our latest print magazine issue or on our website, linked in bio.

06/10/2026

"I worked my freaking ass off."

Want to know how Kris Lindahl got all of those billboards and built the business that he has today? "I was totally obsessive. Everything I had, every ounce of energy, even the days I wanted to quit, I woke up and kept going. And the reason why I did is because I knew that we were on the path of something bigger."

In this episode of The Twin Cities Business Show, Kris shares how he built his business into what it is today.

06/09/2026

After years of public disputes and failed proposals, and recent mediation sessions, the University of Minnesota Twin Cities, Fairview Health Services, and M Physicians have finally reached a set of detailed agreements that will govern their relationships for the next 10 years. The longstanding talks and major shifts in approaches taken by the University of Minnesota made this saga challenging to follow for many Minnesotans.

While these major issues were resolved by January, the parties still needed mediation help to achieve detailed bilateral agreements, such as one that governs the relationship between the University of Minnesota and Fairview. At the conclusion of the talks, the U of M didn’t buy back University of Minnesota Medical Center buildings. Instead, Fairview retains ownership.

A major element of the new overarching agreement is that Fairview will invest $1 billion in the medical center on the University of Minnesota's campus over 10 years. For doctors and patients, the agreement provides continuity. There was a reaffirmation of the U of M’s designation of M Physicians as the clinical practice for Medical School faculty and affiliated physicians.

All three organizations' boards will meet in the coming days to consider the respective agreements that would take effect on Jan. 1. For the full story, visit our website, which is linked in our bio.