The average American consumer expects to spend $1,595 on holiday shopping – that’s 10% less than last year. A third plan to use gen AI to help them shop. DELOITTE: https://fluence-media.co/4quJXLh
One in four American employees say they lack career advancement opportunities. GALLUP: https://fluence-media.co/3WDbvjE
St. Paul’s Suni Lee walked the runway last night at the Victoria’s Secret Fashion Show. WATCH: https://fluence-media.co/4q4M1cq
Smucker is suing Trader Joe’s saying the chain’s crustless sandwiches are too similar to the Minnesota-invented Uncrustables. READ: https://fluence-media.co/46UdsOJ
Today’s WCCO Radio morning take at 6:20 with Vineeta Sawkar. LISTEN: https://fluence-media.co/3LbRXjM
On Sunday Take, State Demographer Susan Brower warns of slow growth and increased pressure on public budgets. LISTEN: https://fluence-media.co/42Bprhz
Blois
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LIST: The battle for Minneapolis Mayor is one of the ten “most important, compelling, and competitive” races in the country this year, according to Ballotpedia. SEE: https://fluence-media.co/43jvtDN
US BANK: Via finimize, VERBATIM: “[Minneapolis-based] US Bancorp pulled in $7.32 billion in revenue last quarter—easily topping expectations of $7.15 billion. Profits followed suit, with diluted earnings per share up 18% from a year ago, and net income climbing nearly 17% to $2 billion. The bank’s net interest income of $4.22 billion highlighted steady loan demand, while fee revenue jumped almost 10% to set a new high.” READ: https://fluence-media.co/4nQRnqb
MORE: Via The Wall Street Journal, VERBATIM: “For the latest period, its provision for credit losses totaled $571 million, up from $557 million a year earlier but shy of the $587.5 million quarterly provision analysts had forecast. The rise in the provision was largely due to loan portfolio growth, U.S. Bancorp said. Average total loans for the third quarter were $5.1 billion, 1.4% higher than in the same period of the prior year, thanks to increased commercial loans to financial institutions and a lift in credit card loans tied to higher spending volume.” READ: https://fluence-media.co/42KXKTA
CRYPTO: Via Reuters, VERBATIM: “U.S. Bancorp said on Wednesday it had formed a new unit focused on digital assets and money movement to speed up development as well as grow the revenue from emerging digital products and services . . . The goal of the new organization is to develop digital products and make more money from the growing areas in finance such as stablecoin issuance, cryptocurrency custody, asset tokenization and digital money movement.” READ: https://fluence-media.co/4nai5cj
ECONOMY: The Federal Reserve released its Beige Book this week – a snapshot of economic conditions released eight times per year. From the Minneapolis Fed section, QUOTE: “Ninth District economic activity was slightly down since the previous report. Employment was flat to slightly down, and wage growth was moderate. Prices increased modestly. Manufacturing and commercial real estate were flat; consumer spending, tourism, construction, residential real estate, and energy activity decreased; and agricultural conditions weakened. Activity among minority- and women-owned business enterprises continued to decline.” READ: https://fluence-media.co/4ok5UKK
GRANTS: Via DEED, VERBATIM: “The Minnesota Department of Employment and Economic Development (DEED) today announced over $20.7 million in grants through the Small City Development Program (SCDP) that will support economic development in 33 cities and counties in Greater Minnesota, rehabilitating nearly 300 properties.” LIST: https://fluence-media.co/3KLy2Z5
ENDORSEMENT: Via news release from the Robbins campaign, VERBATIM: “Rep. Kristin Robbins, candidate for Governor of Minnesota, announced strong public support from current and former elected officials around the state. These leaders share the belief that Robbins is the most qualified to lead Minnesota, citing her proven track record, integrity, energy and vision for the state’s future.” QUOTE: “Kristin listens, leads with common sense, and genuinely cares about the people she serves,” said Rep. Dave Baker. “She has a proven record of bringing people together to get results, has consistently fought for policies that strengthen our communities, and makes government work for Minnesotans –- not the other way around.”
EMMER & WALZ: Via MPR, VERBATIM: “Before [Tim Walz] became governor, he was a Democratic congressman from a rural district. Before [Tom Emmer] went to Congress, he lost a nailbiter of a governor’s race in 2010. The two have never run against each other, but they fight like they have a head-to-head history. The public jabs are becoming more frequent between Minnesota’s top Democrat and top Republican. University of Minnesota political science professor Kathryn Pearson said the spat could have real ramifications for the people that Walz and Emmer serve.” LISTEN: https://fluence-media.co/3KQTETS
WEALTHIEST: 55401 is Minnesota’s wealthiest ZIP code according to an analysis of Census data by The Business Journals. SEE: https://fluence-media.co/47fCarH
BROADBAND: Comcast is rewriting the broadband playbook in the Twin Cities. From neighborhood networks to next-gen tech, we’re delivering community-first internet connectivity with no contracts, no surprises. The new Xfinity package means unlimited data, blazing-fast, reliable speeds and a 5-year price guarantee, plus free mobile for a year. It’s not the old Comcast — it’s a bold new era of connection. Let’s power the future, together. LEARN MORE: https://fluence-media.co/Comcast2025-1 (SPONSORED: Comcast)
FUEL: Via Minnesota Bio-Fuels Association, VERBATIM: “The Minnesota Bio-Fuels Association (MN Bio-Fuels) is urging retailers to apply for $4 million in available biofuel infrastructure grant funding from the Minnesota Department of Agriculture (MDA) before the application deadline next week on Oct 23 . . . On Aug 25, MDA announced it would be awarding approximately $4 million in cost share assistance through its Agricultural Growth, Research, and Innovation (AGRI) Biofuels Infrastructure Grant program to expand access to E15 and other higher blends of ethanol.” READ: https://fluence-media.co/47tJ264
PFAS: Via Lakeland PBS, VERBATIM: “A federal lawsuit filed Monday by the Leech Lake Band of Ojibwe accuses seven companies, including 3M and DuPont, of contaminating water on the reservation with PFAS, often called ‘forever chemicals.’ In the lawsuit, the band says that its culture, religious practices, and subsistence depend on the land and water resources on the Leech Lake Reservation, which has become contaminated with PFAS.” WATCH: https://fluence-media.co/3W9MpsC
POWER OUTAGES: Xcel Energy has a new Electric Outage Map, now available in both English and Spanish. QUOTE: “Our customers tell us how much they appreciate and rely on this feature. We’ve made user-friendly updates designed to help them stay informed and prepared, as part of our commitment to making energy work better.” MAP: https://fluence-media.co/3WBTvWR (SPONSORED: Xcel Energy)
BOOTCAMP: Via Twin Cities Business, VERBATIM: “Scott Litman and Dan Mallin know the challenges of early-stage entrepreneurship. About 20 years ago, the two founded MN Cup, an annual statewide competition for startups. Now, they’re expanding their range, set to work with an East Coast educational group known as Birthing of Giants on a program targeting the next phase in business leadership: when a company already has traction but must figure out how to grow. Birthing of Giants is producing a Minnesota spin-off of its MBA-level educational bootcamp next year under Litman and Mallin.” READ: https://fluence-media.co/3KP5GNz
GOLF: Via Racine County Eye, VERBATIM: “Shoop Park Golf Course, the nine-hole municipal course near the Wind Point Lighthouse on the shores of Lake Michigan, could get a dramatic redesign. On Jan. 21, 2025, the Racine Common Council approved an Option to Improve and Operate Agreement with Keiser Golf Group and the Leipold Johnson Golf Group. City officials gave the partners up to 12 months to conduct feasibility studies and present a redevelopment proposal, according to minutes from the meeting . . . Brothers Michael and Christopher Keiser, developers of the internationally recognized Sand Valley Resort near Wisconsin Rapids, are partnering with Craig Leipold, owner of the NHL’s Minnesota Wild and a Wind Point resident. Leipold’s wife, Helen Johnson-Leipold, leads Johnson Outdoors and is part of the SC Johnson family.” READ: https://fluence-media.co/3JcboZj
DULUTH: Via Northern News Now, VERBATIM: “After years of back and forth with the Lester Park Golf Course, the city’s planning commission hoped to take a step forward by recommending to the city council a transfer of the land over to the Duluth Economic Development Authority (DEDA). However, the decision was tabled because there were only six of the nine planning commission members in attendance, and a super majority of seven would be needed to pass the vote. Despite the decision being tabled, it didn’t stop community members from voicing their frustrations to city council.” WATCH: https://fluence-media.co/4975fYS
HWY 7: Via Bring Me The News, VERBATIM: “Drivers in the west Twin Cities metro are facing disruption this week due to the closure of Highway 7 in Minnetonka to prevent the development of a sinkhole. The highway is closed in both directions between Vine Hill Road in Shorewood and County Road 101 in Minnetonka, a stretch of road that runs north of Minnetonka High School.” READ: https://fluence-media.co/4qboeYo
EDINA: Via WCCO-Radio, VERBATIM: “Construction has had a crippling effect on businesses in Edina, especially in Grandview and 50th & France. To combat this the city implemented what’s called ‘Worth The Detour, Edina.’” QUOTE: “A second year in a row, construction has interrupted the flow of traffic to these businesses,” explains City Council Member Carolyn Jackson. “So we really felt, my goodness, this is such an important part of our town we have to do what we can to direct people there. Because they’re not only businesses but they’re also community builders there, and it’s very important that they thrive.” LISTEN: https://fluence-media.co/4nSXf2a
MINING: Via news release from Talon Metals, VERBATIM: “Talon Metals Corp. (TSX: TLO) (OTCID: TLOFF), the majority owner and operator of the Tamarack Nickel-Copper-Cobalt Project in central Minnesota, announced today that is donating nickel core samples from the Tamarack Nickel Copper Project to the Smithsonian National Museum of Natural History to be accessioned into the permanent collection.” READ: https://fluence-media.co/3JciEV0
MAGNETS: Via news release from Minneapolis-based Niron, VERBATIM: “Niron Magnetics today announced a project in collaboration with Stellantis to develop a new generation of electric motor designs for automotive use using magnets free of rare-earth elements. Niron’s breakthrough Iron Nitride magnet technology offers a promising alternative to traditional rare-earth-based magnets, helping to reduce dependence on foreign-dominated supply chains.” READ: https://fluence-media.co/4n99UNo
40 YEARS OF PARTNERSHIP: Flint Hills Resources and Ducks Unlimited (DU) are celebrating 40 years of partnership, a longevity landmark that makes Flint Hills one of DU’s longest-standing corporate partners. Working together over the past four decades, Flint Hills and DU have contributed to conserving more than 250,000 acres of wildlife habitat and natural areas in Minnesota and over 900,000 acres across North America. LEARN MORE: Flint Hills Resources and Ducks Unlimited Celebrate 40 Years of Partnership (SPONSORED: Flint Hills Resources Pine Bend refinery)
MEDIA: Via Twin Cities Business, VERBATIM: “For people who enjoy holding a newspaper in their hands, Dec. 31, 2025, will mark a new chapter in the demise of print newspapers. The Atlanta Journal Constitution will stop publishing print newspapers, and the Minnesota Star Tribune will shutter its printing plant in Minneapolis. The daily Star Tribune will print its paper in Iowa, but the much earlier deadlines will prompt more people to get rid of print subscriptions. The conversion to digital news also means the elimination of work for paper carriers, who for many decades were young boys. Serving a route taught paperboys to be responsible, and they also learned why factual news was important. Two paperboys I know grew up to be national leaders.” READ: https://fluence-media.co/4hccYHj
ST PAUL: Via Bring Me The News, VERBATIM: “A development that’s in progress around Allianz Field will bring new restaurants, an office building, hotel, flower garden and perhaps an ice rink to St. Paul’s struggling Midway neighborhood. Minnesota United team owner Dr. Bill McGuire shared an update on the United Village project at Snelling and University avenues during a neighborhood meeting last week. It’s the long-planned next phase of Allianz Field’s 34-acre site.” READ: https://fluence-media.co/3WEvyhB
DROUGHT: The new Drought Monitor out this morning shows 19% of the state is now in drought, up from 12% a week ago. 62% of the state is now considered abnormally dry or worse. MAP: https://fluence-media.co/3PP2Kzy
FRESH15: The latest season of Fresh15 includes interviews with new Minnesota House members. So far, five new members have shared their goals, background and fun facts before they take office in a historic session this January.
Rep. Kari Rehrauer
Rep. Wayne Johnson
Rep. Julie Greene
Rep. Keith Allen
Rep. Peter Johnson
Follow on your favorite podcast platform, or at www.TheDailyAgenda.com/Podcasts. (SPONSORED: Minnesota Telecom Alliance)
DEER: Via MPR, VERBATIM: “The youth deer hunt opener kicks off statewide today, as well as the early antlerless-only season throughout other parts of Minnesota. And, according to the state Department of Natural Resources, the outlook for this year’s harvest is very good. The DNR attributes the favorable forecast to last season’s mild winter, which bolstered wild herd populations. But Blane Klemek, the DNR’s wildlife manager for the northwest region, said an abundance of acorns are also working to benefit herds in that area.” READ: https://fluence-media.co/4n1tjQ9
GINA MARIE’S: Via Bring Me The News, VERBATIM: “Gina Maria’s Pizza, with four locations in the Twin Cities suburbs, has abruptly closed all of its restaurants. While the restaurant had posted specials on social media as recently as Monday, its website now only contains a message letting diners know that it ‘has officially closed its doors.’” READ: https://fluence-media.co/4nUQTj2
RED COW: Via Minnesota Monthly, VERBATIM: “When I stepped into Red Cow’s reimagined North Loop location on opening day, a crowd of diners were already gathering near the hostess desk, emanating a chorus of oohs and ahs as they took in the new surroundings. A recurring question seemed to hang in the air— ‘is this really Red Cow?’” READ: https://fluence-media.co/3J2OS5a
TONIGHT: Via Axios, VERBATIM: “The ‘Purple Rain’ musical begins its run in Minneapolis Thursday. Why it matters: Minnesotans have a chance to experience this stage adaptation of Prince‘s Academy Award-winning love letter to his hometown before it attempts to make the jump to Broadway. The big picture: The highly anticipated show’s debut at the State Theatre comes at a challenging time for Broadway-bound shows.” READ: https://fluence-media.co/4hgZ0UD
NEXT WEEK: Via news release from Eden Prairie-based NVE, VERBATIM: “NVE Corporation (Nasdaq: NVEC) announced that it plans to release its financial results for the quarter ended September 30, 2025 on Wednesday, October 22, 2025 after the close of the Nasdaq Regular Market. The company will hold its quarterly conference call later that day at 4:00 p.m. Central Time.” READ: https://fluence-media.co/4njveA0
OCT 30: Via news release from New Brighton-based APi, VERBATIM: “APi Group Corporation (NYSE: APG) announced today that it intends to release its financial results for the three and nine months ended September 30, 2025, before the market opens on Thursday, October 30, 2025.” READ: https://fluence-media.co/4ncm7B5
OCT 30: Via news release from Minneapolis-based Ameriprise, VERBATIM: “Ameriprise Financial, Inc. (NYSE: AMP) plans to release its third quarter 2025 results at approximately 7:30 a.m. (ET) on Thursday, October 30, 2025. The company will host an investor conference call to review the results at approximately 9:00 a.m. (ET) on the same day.” READ: https://fluence-media.co/3KT3FzV
NEXT MONTH: Via news release from Minneapolis-based Sleep Number, VERBATIM: “Sleep Number Corporation (Nasdaq: SNBR) will release its fiscal third quarter results through September 27, 2025, before market open on Wednesday, November 5, 2025. Management will host its regularly scheduled conference call to discuss the company’s results at 8:30 a.m. ET (7:30 a.m. CT; 5:30 a.m. PT).” READ: https://fluence-media.co/47fEwH3
NEXT MONTH: Via Twin Cities Business, VERBATIM: “It was in 2021, during the Covid-19 pandemic, that the first Twin Cities Con kicked off, drawing in 2,500 attendees. This year’s run is projected to bring in around 40,000, says Ben Penrod, president of Nerd Street, the event production company that started the convention.” READ: https://fluence-media.co/3ILHNWA
FORUM: If you’re interested in having the Fluence Forum host a topic, please contact Blois Olson at bloisolson@gmail.com
LAKERS: Via Minnesota Monthly, VERBATIM: “Did you know Minneapolis was once home to the Lakers basketball team? This year marks the 65th anniversary of when the Minneapolis Lakers left town for Los Angeles. On April 26, 1960, team owner Bob Short announced the relocation of the franchise, citing box office struggles, the lack of a permanent home court, and the greener pastures of the West Coast.” READ: https://fluence-media.co/3W4Zsvn
BDAYS: MBP CEO Kurt Zellers, Star Tribune Publisher Steve Grove, fmr. legislators Larry Hosch and Dan Dorman
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