DEBT AND EQUITIES MagStar Technologies Inc., Hopkins, set a record date of Jan. 14 for the previously announced 1-for-2,000 reverse split of the company's common stock intended to take the company private. The reverse split was originally announced on Oct. 5. Under the terms of the reverse split, each 2,000 shares of the MagStar's common stock will be converted into one share of common stock, and holders of fewer than 2,000 shares of common stock on the record date will receive 42.5 cents in cash per pre-split share.
NEW BUSINESS Shea Inc., Minneapolis, a marketing and design firm, is working with Hemisphere Restaurant Partners, a Minneapolis restaurant development company, on Flame -- Cooking With Fire, a new restaurant scheduled to open in May at the Plaza at Rosedale Center.
PERSONNEL MOVES General Mills Inc., Golden Valley, named Roderick (Rick) Palmore executive vice president, general counsel and chief compliance and risk management officer. Palmore will have responsibility for the company's legal activities, corporate ethics and compliance, and corporate security.
Land O'Lakes Inc., Arden Hills, said JP Ruiz-Funes has joined Land O'Lakes as senior vice president; Barry Wolfish was promoted to senior vice president for corporate marketing strategy; Mike Vandelogt was promoted to executive vice president and chief operating officer of the Winfield Solutions seed division, and Dave Seehusen was promoted to executive vice president of Land O'Lakes ag business development and member services.
