9/25 Morning Must Reads

Thursday's five most interesting stories printed on wood pulp.

St. Paul City Council turns into protest rally
Whoever thought calling the City Council meeting a "community input" session about the Republican National Convention must have had high hopes for people's ability to stay civil. City Council Member Dave Thune has been a supporter and advocate for the protesters, so it was pretty clear this wasn't going to be "yay ra ra" Republican celebration. Attendance at the session topped 150 and Thune's "plea for no cat calls" was ignored shortly after the session began. "The event had largely become a protest rally, with testimony alleging a broad array of police brutality and the suppression of civil liberties," according to the Pioneer Press. We don't think Mayor Chris Coleman truly knew what he was getting himself into. Police brutality, disappointing revenue for businesses and now potentially months or years of backlash.

And the flipside: Sheriff says St. Paul would be a charred and crumbling city of patriotism and anarchy without him
Ramsey County Sheriff Bob Fletcher tried to counter the St. Paul City Council meeting by reminding everyone how important he is. In other words, St. Paul wouldn't be standing without his impeccable work during the Republican National Convention. There were “eight hours of chaos and mayhem” on the streets, during the first day, he said, and if police hadn’t stopped the 500 troublemakers by nightfall, “this town would have been destroyed.”

“What Council Member Thune has indicated up to now is a huge sympathy for the anarchists,” Fletcher said. “We’re not going to be part of any gathering that implies that we should be sympathetic to the anarchists that were bent on destroying St. Paul.”

Thune responded: “I have never sympathized with law breakers, and I continue to not sympathize with lawbreakers.” St. Paul police were in charge of operations during the RNC, but Fletcher’s office played a key supporting role, including conducting a long-term inves tigation of the anarchist groups before the convention.

More cat fights! This one can only get better, especially when there are so many competing egos.

Twin Cities flips out over Petters raid, still know nothing
The federal raid at the Petters Group headquarters in Minnetonka made big headlines yesterday, but reports are still vague with very few details. Federal officials also raided Owner Tom Petters' home Wednesday, but no arrests have been made. The search warrant is still sealed in district court and the headquarters are back to a normal work day. Big rock, no splash? We'll have to wait and see.

Ameriprise: No worries, you won't get totally screwed
Breathe a sigh of relief, Ameriprise clients. Minneapolis broker-dealer Ameriprise said Wednesday that they will put up $33 million to protect 330,000 accounts. The accounts with frozen assets in the Primary Fund will be OK if the Reserve Primary Money Market Fund is liquidated for less than $1.00 per share. "With this additional action, we are addressing losses incurred through an investment option that has for decades provided an unquestioned safe haven for consumers' cash," said Ameriprise CEO Jim Cracchiolo in a statement. So... what about the rest of us?

Brainerd woman busted with illegal tunes could beat out record industry
A judge granted a new trial for Jammie Thomas of Brainerd after a verdict to pay $222,000 to record companies for sharing music online. The case made national news as the first Internet piracy law suit by the recording industry against a customer to go to trial. According to the Star Tribune: "U.S. District Judge Michael Davis said he erred in jury instructions and that his error 'substantially prejudiced' Thomas' rights, but he also implored Congress to reform copyright law to prevent similarly 'oppressive' awards in music file-sharing cases."


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