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Campus & State
Gedney Pickles files for Chapter 11
M.A. Gedney Co., the 121-year-old Chaska-based pickle and condiment company, filed for Chapter 11 bankruptcy protection late Tuesday. Company attorney William Kampf said Gedney has about $28 million in liabilities.
Gedney attributed the filing to the debt load from its 2000 acquisition of the Massachusetts-based Cains pickle business. At the time, Gedney said the purchase would help it become a national player in the $615 million retail pickle industry. The company long has been a dominant pickle brand in the Upper Midwest.
Gedney said it will continue to ship retail and wholesale products as it reorganizes its finances. The company will maintain current employment.
Wellstone faces million-dollar ad
Americans for Job Security, a Virginia-based interest group that opposes the reelection of Democratic U.S. Sen. Paul Wellstone, has made an unprecedented $1 million ad buy that will fill the airwaves in the last two weeks before the election, according to Wellstone campaign officials.
Campaign manager Jeff Blodgett said the buy is so large that it may equal what Wellstone and Republican rival Norm Coleman and the two state parties each are expected to spend on media in the closing weeks. Blodgett said his biggest concern is that no one knows who funds the mysterious group, which has found a legal loophole that apparently allows it to keep its donors secret.
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