Minnetonka, Minn.

The Minnesota business conglomerate that includes Polaroid Corp. among its many holdings was raided by the FBI last week, and federal agents in their search warrant alleged that the corporation’s CEO is “the key figure in a high-stakes fraud scheme.” Petters Group Worldwide, which bought Polaroid Holding Company in 2005, had its Minnetonka, Minn., headquarters raided last Wednesday, the Minneapolis Star Tribune reported. Polaroid Corp. declared bankruptcy in 2001, and had its assets acquired by an equity partnership that was later sold to Petters. The Polaroid brand name has subsequently been licensed out to other companies. According to the AP, the company

In an announcement that was more about “when” rather than “if” Polaroid has announced that they will be dropping the instant film technology they pioneered that spoke to a different generation of “instant gratification” seekers. The company is closing factories in Massachusetts, Mexico and the Netherlands and cutting 450 jobs as they have stated that they will now focus on newer ventures such as a portable printers for images from cell phones and Polaroid-branded digital cameras, televisions and DVD players. This closure of the aforementioned factories will leave Polaroid with 150 employees at its Concord headquarters and a site in the nearby Boston

They work hard; most play hard, but all are making a difference within their companies and beyond. They're the Dealerscope 40 Under 40 -- 40 men and women already recognized for their achievements early in their careers. Dealerscope is proud to introduce this year's 40 Under 40 profiles, representing the industry's best and brightest. Compiled by the Dealerscope Staff Nasser Abo Abdo President, Audiobahn, Inc., Buena Park, Calif. Age: 35 First industry job: In retail, at Stereo Center in Santa Ana, CA, 1981 Career history: Nasser was at Stereo Center for two years and in 1984 started his own retail store, Pacific Stereo. By

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