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• Would the merged corporation continue its charitable and caring connection with our community? 
• Would we lose jobs?
• Would we lose community leaders?

Just as the Journal Sentinel article did, let’s run through a few comparisons of the two metropolitan areas that in 2001 were competing for headquarters real estate and headquarters leaders.

Labor Costs
According to the U.S. Bureau of Labor Statistics, mean hourly wages for applicable occupations are 17% to 26% higher in Minneapolis than in Appleton.
Advantage: Appleton

Health Care Costs
From a GAO report released in 2005, but analyzing 2001 prices, physician prices in Appleton are 9th highest of all U.S. metropolitan areas analyzed. Minneapolis compares well, at the 140th highest of areas analyzed. Overall Spending per Enrollee is also analyzed. Appleton is not included there, but the best ranking for a Wisconsin city is Duluth-Superior, at 63rd highest. Minneapolis per enrollee costs rank at 195th highest.
Advantage: Minneapolis

Taxes
Corporate taxes are a minor issue for Thrivent, as they are a tax-exempt fraternal benefit society. Income and sales taxes, however, are important for their employees.
Sales tax: Minneapolis 7.15%, Appleton, 5%
Income tax, marginal rates, 2006, married filing jointly
Minnesota, 7.05%, $29,980 - $119,100; 7.85%, > $119,000
Wisconsin, 6.5%, for taxable income of $24,430 – $183,210; 6.75% > $183.210
Advantage: Appleton (hard to believe…)

Housing Affordability
Money Magazine’s “Best Places to Live” stats:
Appleton
Median family income, 66,264
Median home price, 144,473
Home price as multiple of median family income: 2.18
Minneapolis
Median family income, 54,966
Median home price, 259,308
Home price as multiple of median family income: 4.72
Advantage: Appleton

Crime
According to the 2006 Morgan Quinto crime rankings, Appleton is the 5th safest of 344 MSAs ranked. Minneapolis is the 345th safest community, coming in ahead of dead-last Detroit, but behind even crime-ridden Milwaukee at 318th.
Advantage: Appleton

Airport Facilities
Well this is pretty obvious. “Commercial Operations” in 2006 (essentially, the number of commercial flights) as recorded by the FAA, were 5,482, Appleton, 326,077, Minneapolis. Appleton’s general aviation activity (private, business planes) is relatively high however, and compares well with Minneapolis.
Advantage: Minneapolis

Quality of Life, Business Climate
Here one could go nuts looking at figures and rankings. And the rankings found have methodologies that vary all over the board. I checked out the 2007 Business Facilities Rankings Report, appearing in the July, 2007 edition of the Business Facilities periodical. Here’s a smattering of results:

• States with the best quality of life: Minnesota ranks 7th, Wisconsin is not in the top 10.
• Manufacturing momentum in the U.S.: Minnesota shows up as 8th highest, Wisconsin is not in the top 15. 
• Biotech strength in U.S., overall depth: Minnesota ranks 10th, Wisconsin is not in the top 10.
• Biotech strength, medical devices and equipment: Minnesota ranks 2nd, Wisconsin ranks 10th. 
• Most educated workforce: Minnesota ranks 2nd, Wisconsin ranks 4th. 
• Education climate (for e.g., K-12 pupil-teacher ratios): Wisconsin ranks 7th, Minnesota is not ranked in the top 10.

Advantage: Minneapolis

Minneapolis won
Thrivent Financial is a Wisconsin Corporation chartered as a fraternal benefit society. Minneapolis was chosen as its headquarters location - “Principal Executive Offices” are at 625 Fourth Avenue South, Minneapolis, Minnesota, 55415.

So, did Appleton lose jobs?
(Though contacted repeatedly, Thrivent did not respond to inquiries; the numbers below are via the Chamber of Commerce.)
AAL employees pre-merger, 1,858.
Appleton Thrivent employees today, 1,836 (including Thrivent Financial Bank employees)

So, it would appear the Appleton office did not lose a significant number of employees. Good! We have, however lost leaders.
Top Executive Positions

• Chairman, President and CEO, Minneapolis
• Sr. VP, Financial Services Operations (David Anderson), Appleton 
• Sr. VP and CFO, Minneapolis 
• Sr. VP, Fraternal Operations, Minneapolis
• Sr. VP, Marketing, Minneapolis 
• Sr. VP, Human Resources, Minneapolis 
• Exec. VP, Marketing and Products, Minneapolis 
• Sr. VP and Chief Information Officer, Minneapolis
• Sr. VP, General Counsel and Secretary, Minneapolis 
• Sr. VP, Communications, Minneapolis 
• Exec. VP and Chief Administrative Officer (Jon Stellmacher), Appleton 
• Sr. VP and Chief Investment Officer, Minneapolis 
• Exec. VP, Field Distribution, Minneapolis

Two Appleton survivors, David Anderson and Jon Stellmacher, serve on multiple boards and committees in the Fox Valley. Though seemingly stretched thin (!), their service is much appreciated, as is the volunteer service of countless Thrivent employees.

Did we lose a corporate friend and partner? Depending on your interests and passions, we will all see this differently. In 2001, AAL was the larger company measured in members and value of policies in force. From the exercise above, it would seem Appleton had more than a fighting chance as a headquarters city! But apparently this little old northeast Wisconsin berg didn’t quite make the grade when held up to big, big sister Minneapolis.

Stay tuned as the Denver-Milwaukee beer headquarters competition plays out….

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