NI Holdings added to Russell index
NI Holdings (NASDAQ:NODK) of Fargo was recently added to the Russell 3000 Index and Russell 2000 Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes on June 26. Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. In the U.S. marketplace, about 99 percent of the U.S. equity assets are benchmarked by the Russell 3000, representing more than $8.5 trillion. The company will hold its membership until FTSE Russell reconstitutes its indexes in June 2018.
The annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000.
The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
Bursch Travel named 2017 Top 150 Workplace
Bursch Travel in Fargo has been named one of the Top 150 Workplaces in Minnesota by the Star Tribune. Top Workplaces recognizes the most progressive companies in Minnesota based on employee opinions measuring engagement, organizational health and satisfaction. The analysis included responses from over 69,000 employees at Minnesota public, private and nonprofit organizations.
Bursch Travel ranked 53rd on the small company list. While the survey was completed by only the company's Minnesota employees, Bursch Travel has 17 Upper Midwest locations in five states, including North Dakota, South Dakota, Nebraska and Wyoming. The company has 12 locations in Minnesota.
Entellus Medical to acquire Spirox
Entellus Medical, Inc., a medical technology company in Plymouth, Minn., has entered into a definitive agreement to acquire Spirox, Inc., a privately-held ENT medical technology company that develops, manufactures and markets the LATERA Absorbable Nasal Implant. Under the terms of the agreement, Entellus has agreed to acquire Spirox for $25 million in cash and 3.4 million shares of Entellus common stock, plus additional contingent payments over four years based on revenue growth. The transaction is subject to customary closing conditions, including the approval of the transaction by Spirox's stockholders. The transaction is expected to close early in the third quarter of 2017.
F-M Ambulance receives Lifeline Gold Plus Award
Fargo-Moorhead Ambulance has received the American Heart Association's Mission: Lifeline EMS Gold Plus Award. This award recognizes F-M Ambulance for implementing quality improvement measures for the treatment of patients who experience severe heart attacks.
Enclave Development, Botlink partner to use drones
Enclave Development and Botlink in Fargo have entered into a collaborative agreement to test and evaluate existing and potentially new uses for small Unmanned Aircraft Systems or drones in the construction industry.
Enclave Development has given permission for Botlink pilots to periodically fly drones over its construction sites and collect aerial imagery. Botlink will use its software to stitch aerial photos into high-definition orthomosaic maps and 3-D models Enclave Development employees can then use to analyze, collaborate and make more informed decisions about their projects. Botlink will collect aerial imagery from the beginning to the end of Enclave Development projects to demonstrate the usefulness of drones throughout the construction process.
Drekker earns medal
Drekker Brewing of Fargo received a bronze medal for its The Nightman Cometh beer in the American Imperial Stout category at the 2017 U.S. Open Beer Championship in Oxford, Ohio. The results were announced July 10.
The Village Family Service Center earns seal
The Village Family Service Center in Fargo recently received Charities Review Council's Meets Standards seal, a visual marker denoting nonprofit strength. Nonprofit organizations earn the Meets Standards seal by voluntarily participating in Charities Review Council's Accountability Wizard review process. This web-based tool is based on Charities Review Council's 25 Accountability Standards, a balance of nonprofit sector promising practices, public expectations, and legal requirements, representing the shared expectations between donors and nonprofits.
The review process examined four key areas: public disclosure, governance, financial activity
and fundraising. The Village's full review report is available at www.smartgivers.org, and the organization will also be listed in Charities Review council's bi-annual Smart Giver Newsletter.
Proof Artisan Distillers receives three gold medals
Proof Artisan Distillers of Fargo announced that its Minions Gin, Minions Old Tom Gin and Minions Barreled Reserve Gin were awarded gold medals in a recent National Spirits Competition in New York. The Fifty Best recently hosted a tasting, where 62 contenders were evaluated for the distinguished "Best Gin" awards for 2017. Since beginning production in early 2015, Proof Artisan Distillers has received a total of 12 national awards for its spirits.
Minnesota named third best state for business
Minnesota is America's Third Best State for Business in 2017, according to a new report by CNBC. Minnesota moved into the third spot this year, after placing fourth in 2016 and coming in first as America's Top State for Business in 2015. CNBC's annual study scores all 50 states on 66 measures of competitiveness, separated into 10 categories. These categories include workforce, economy, infrastructure and transportation, technology and innovation, education, cost of living, cost of doing business, access to capital, business friendliness and quality of life.