Reporter | Business, Research

Business reporter Patrick Kennedy covers executive compensation and public companies. He has reported on the Minnesota business community for more than 20 years.

Kennedy also has written about nonprofit organizations and mergers and acquisition activity.


Sleep Number sales slump as company plans to close 30 stores.

The mattress industry has been in decline for more than a year.


UnitedHealth Group's CEO made $25 million in 2023

A cybersecurity attack may cost UnitedHealth Group billions, but their CEO made $25 million before the attack.


Vista Outdoor gives American investors another chance to raise their bid

Vista's board still prefers the deal with Prague-based Czechoslovak Group but urged MNC Capital to raise its offer.


Thrivent has found a way for everyday folks to get a piece of the private equity market

Investors can pay as little as $50 a month to join Thrivent's popular asset allocation funds, which will now carry private equity investments.


Conservative lawmakers lead objections to Vista's deal to sell Federal ammunition to Czech firm

Pressure being put on Treasury Secretary Janet Yellen and federal panel that must approve foreign investments in U.S. businesses.


New Brighton's APi Group continues its expansion with $570M acquisition

The addition of Tampa-based Elevated Facility Services Group is APi's largest acquisition since its 2021 acquisition of the Chubb fire and security business.


Xcel CEO Bob Frenzel awarded $9M retention bonus

Bob Frenzel's compensation is down because of stock awards and bonuses being lower than in 2022.


Archie Black's $20M payday, his last and biggest leading SPS Commerce

Black retired as CEO of SPS Commerce in October after 22 years leading the Minneapolis-based software company.


Indian Motorcycle gets a refresh as it's riding its biggest success

Polaris Industries is rebooting its most popular model. The success of the Indian Scout helped Polaris turn its first annual profit on motorcycles.


Bright Health CEO's bonus grew to $1.95M amid slashed workforce

The company, which was founded in Minnesota, cut its workforce by more than half after exiting the health plan business.