By Dawn Peake
Originally ran: January 1, 2006
Business leaders have a multiplier effect. They inspire their generation as well as the next to become leaders not only in their industries, but the community. In this issue, ROI Central Minnesota recognizes five individuals younger than 40 who have emerged as business leaders in the area and positioned themselves to make a lasting impact. Their leadership, innovation and commitment to community inspires peers and shapes the area economic landscape.
"You have to start thinking about the future," said Jack Militello, a director of the master's in business administration program at the University of St. Thomas. "Good leaders do need to think far in advance — as far as their thinking can take them."
These business leaders look at what it will take to make the community stronger and then do it.
"We have a great tradition of that around this area, and there is a need for that tradition to be kept alive," Militello said.
Leadership and legacy are not simply about building wealth, but also giving a piece of it back.
These five leaders dedicate time not only to their work in the office, but also to the community. They serve on area nonprofit organization boards, remain active in their industry and give their resources to drive projects forward.
Read on to learn more about what makes them tick.
The St. Cloud-area economy moved from recovery to expansion with employment gains in the year after the loss of 2,670 jobs at the liquidated Fingerhut Companies Inc.
Minnesota-based Arctic Cat Inc. announced plans to open an engine factory in St. Cloud by 2007.
Work was underway on an Anderson Trucking Service Inc. headquarters, a $10 million project near Interstate Highway 94 and Opportunity Drive in south St. Cloud.
Hurricane Katrina ravaged Louisiana and Mississippi. Less than a month later, Hurricane Rita shut down much of the region's energy infrastructure.
Crude oil prices soared to $70 a barrel after hurricanes shuttered Gulf refineries and offshore sources of energy.
General Motors Corp. and Ford Motor Co. saw their debt downgraded.
Auto parts maker Delphi Corp. filed for bankruptcy protection.
Delta Air Lines Inc. and Northwest Airlines Corp. took refuge in bankruptcy.
President George Bush nominated Ben Bernanke to replace Federal Reserve Chairman Alan Greenspan.
On March 23 a 16-year-old student at Red Lake High School shot and killed 10 people and injured seven. He killed himself afterward.
Former WorldCom Inc. CEO Bernard Ebbers and onetime Tyco International Ltd. CEO L. Dennis Kozlowski were sentenced to lengthy prison terms after jury trials on corporate fraud charges.
Google Inc.'s profits soared, as shares of the Internet search giant soared above $400.
Wal-Mart Stores Inc. launched a public relations blitz in an attempt to turn back repeated criticism about its treatment of workers.
Telephone companies made a big push into broadband competition, taking on cable television companies.
Martha Stewart completed a five-month jail sentence after her conviction for lying to the government about a stock sale, and her return home put her back in the spotlight.
Federated Department Stores, parent of Macy's and Bloomingdale's, took over rival May Department Stores, owner of the Lord & Taylor and Marshall Field's chains.
Procter & Gamble Inc. bought Gillette Co., marrying some of the biggest names in consumer products.
Source: Times archives