The “Economic Indicators: An Update for the 7 Rivers Region” breakfast will be held April 2 at UW-La Crosse.
It couldn’t come at a better time. It’s been a tough winter, and I’m not just talking about snow and cold. Economic times have been difficult in Western Wisconsin, but also in Phoenix, Arizona, the one-time boom town from where I am writing this column, and practically every region and community across the country.
Depending on where you live, your area likely is in a severe recession, a moderate recession or at best a downturn. This affects the psyche of everybody, from business people to their customers. Often, the depression that invades those psyches makes it that much tougher to recover from bad economic times.
The regional consumer sentiment index dropped from 102.7 in the April 2007 survey to 79.1 in February 2008, while the national index fell from 89.2 to 70.8 during that period.
T.J. Brooks, UW-L associate professor of economics, will discuss those economic indicators for the region.
“It’s because of the ongoing troubles in the financial markets and the housing markets,” Brooks told the La Crosse Tribune in explaining why consumers’ psyches are down.
But, business will bounce back. People will spend money again, and perhaps more intelligently, without going into as large deficit spending as in recent years.
Several people who study the economy and function within it will be on the agenda for the breakfast meeting. Tom Still, president of the Wisconsin Technology Council, and a fellow WisBusiness.com columnist, is one of them.
Still is an upbeat guy, who has done a lot of work in promoting technology development in the state, regional economic development and entrepreneurship. All will end up playing big roles in an economic turnaround.
Joining Still will be three people who have been entrepreneurs in the Western Wisconsin region. Mark Platt is president and CEO of Multistack Inc. Founded in 1989 in West Salem, the firm makes commercial air-conditioning equipment — mainly water chillers, an integral part of air-conditioning systems. The company moved to Sparta in 2006 after building a new facility there.
Sue Kolve-Feehan is owner of Sue Kolve’s Salon & Day Spa in Onalaska, and of The Salon Professional Academy in Onalaska. The latter teaches students about hair, skin and nails so they can go to work in salons.
Steven Blue is president and CEO of Miller Felpax Corp. in Winona. The company makes parts for railroad locomotives, railcars and highway crossing control systems.
All these people have been through the wars before. They have survived economic downturns and moved on to build successful companies. Like most entrepreneurs, they are problem solvers. Times like these are not reasons to get depressed. They provide challenges for true entrepreneurs.
Another good thing about these type of folks is that you get reality-based, practical, experience-based ideas, not just the spin that so often comes from those involved in the political world.
We’re hearing too much of the latter — from the Bush Administration positive spin that could only come from somebody with blinders on to the three remaining major presidential candidates.
The event will be from 7 a.m. to 9 a.m. at the University of Wisconsin-La Crosse Cleary Alumni and Friends Center. The regional forum also will be available live at two other locations — Jake’s Northwoods in Sparta and the Tandeski Center at the Minnesota State College-Southeast Technical campus in Winona. Cost is $20 at any location.
