(WisBusiness) FRI News Summary — 10 Oct. 2008

From WisBusiness.com …

— The Dow Jones was briefly down more than 500 points shortly after this morning’s opening bell. At 8:45 a.m. the market had recovered somewhat and was down around 200 points.

President George W. Bush is scheduled to give an address on the economy around 9:30 a.m.

Watch the news column at www.wisbusiness.com for news throughout the day

— Gov. Jim Doyle is due to announce a medical research collaboration between Marshfield Clinic, University of Wisconsin School of Medicine and Public Health, Medical College of Wisconsin and UW-Milwaukee today at 3:30 p.m. at the Wisconsin Institute for Medical Research in Madison.

Doyle will be joined by representatives from each of the four institutions involved in the collaboration.

— Bremner Food Group provided the state with notice of a mass layoff effective Dec. 9 at its Ripon Foods location. The mass layoff will mean permanent job loss for 56 production and maintenance employees and nine administrative employees.

— The Menominee Nation continues to struggle economically 50 years after the federal government decided to terminate its status as a recognized tribe and the best option to improve its plight is an off-reservation casino, according to a new report compiled by three UW-Madison researchers.

The study was paid for by the tribe, which is seeking federal approval to turn a Kenosha dog track into a casino. The Forest County Potawatomi have opposed the project, which has been pending before federal regulators for some time.

Co-author Dennis Dresang said the researchers went into the study with no preconceived notions and the study was not influenced by the tribe’s desire to win approval for an off-reservation casino.

Read the report:


A spokesman for the Forest County Potawatomi says it’s “an incredible jump” to say that is the best option for the Menominee.

The Forest County Potawatomi has opposed the Menominee Tribe’s proposal to turn a Kenosha dog track into a casino. Ken Walsh noted the project has been tied to federal investigations of one of the original developers.

“The Menominee-funded study also fails to mention that the Kenosha proposed casino is funded by an East Coast Indian Tribe,” Walsh said in a statement. “The Mohegan Tribe of Connecticut has financed the project since its inception and is contracted to build and manage the casino if it is approved. Under their management agreement, the Mohegan will take hundreds of millions of dollars out of Wisconsin and back to Connecticut if the casino is approved.”



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Press Releases
· Menominee Indian Tribe of Wisconsin: UW report highlights importance of Kenosha casino as Menominee struggle to rise above termination’s lasting effects
· MMAC: Releases monthly economic trends report
· Office of the Commissioner of Insurance: Money Smart Week, Insurance and Financial Fair to be held October 17
· UW-Madison: Courses help growing railroad industry stay on track
· UW-Madison: Kenosha development could ease tribe’s social, economic woes, study finds

For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82


Worsening national financial health may infect Wisconsin economy, Fed bank executive says: he national credit squeeze is closely tied to local housing markets, said Eric Rosengren, president and chief executive of the Federal Reserve Bank of Boston. “I would say that in many parts of the country the fact that housing prices have gone down and real estate is softening has affected small banks as well as large banks,” he said in a phone interview. Rosengren, who earned his master’s and doctorate degrees in economics at UW-Madison, was in Madison Thursday to speak to students.

Ellsworth Corp. opens Brazil office: Ellsworth Corp., a Germantown distributor of adhesives, specialty chemicals, dispensing equipment and other products, said Thursday that it has established a subsidiary in Brazil to serve Latin America. Ellsworth Latin America Adesivos will operate out of a sales office and warehouse in Sao Paolo, Brazil. It will supply adhesives, sealants, coatings, encapsulants, tapes, dispensing equipment and UV and LED curing equipment to the growing automotive, electronic, medical and industrial markets in the Latin American marketplace.

Packers Delay Lambeau Expansion: The Green Bay Packers blame economic conditions for putting a planned $25 million expansion of Lambeau Field on hold. The plan announced in July would add an elevated plaza to the stadium’s south side and put in secure underground

Pierce lands $10.7 million order: Pierce Manufacturing announced Thursday that it was awarded a $10.7 million U.S. Army contract for 68 Pierce pumper rescue vehicles. The order also has provisions for up to 115 additional trucks, the company said. The order from the U.S. Army Tank-Automotive Command will support military personnel in Afghanistan and Iraq security forces.


GREGG HOFFMANN: Contributor, WisBusiness.com

TOM STILL: President, Wisconsin Technology Council

JENNIFER SERENO: Senior manager, Wood Communications Group

STEVE JAGLER: Executive editor, Small Business Times

TOM BURZINSKI: IT executive and consultant

TECHNOLOGY (back to top)
– Carbon-capture research is a growing field

BIOTECH (back to top)
– Experts: Genetics next medical frontier

ECONOMY (back to top)
– Crisis frightens Main Street

– U.S. consumer confidence plummets

MANUFACTURING (back to top)
– Brunswick cuts 1,400 more jobs

– Mining-equipment makers survive crisis

LABOR (back to top)
– Efforts to attract employers could take ‘several years’

– LDI to benefit from state grant

SMALL BUSINESS (back to top)
– Premium Link to merge with Vista

INVESTING (back to top)
– Merge could post 3Q profit

REAL ESTATE (back to top)
– Pieces of Eight site could become UWM facility

– Dane County building permits increase in September

– Menomonee Falls hotel project finally moves forward

– Gorman to buy two more buildings at Pabst complex

AGRIBUSINESS (back to top)
– The Towel Tote is a Dairy Expo success story

TRANSPORTATION (back to top)
– Gas prices in Madison among the state’s highest

RETAIL (back to top)
– The Buzz: Menasha’s Sliders Bar and Grill kicks off

– Meat market grinds to a halt; Hoffmann’s, a Cedarburg institution for 91 years, to close in November

– Sonic drive-in to open at site of former Rusty’s tavern in Middleton

– Apple computer shop moving to Near East Side

REGULATION (back to top)
– Green Bay stations keep close eye on cable dispute

– Little Chute windmill changes direction, will go downtown

– Milwaukee aldermen push community benefits ordinance

TOURISM (back to top)
– Milwaukee Mile faces cash problems, not closure, CEO says

– Dohmen foundation will fund new Zoo hippo exhibit

HEALTH CARE (back to top)
– Couple donates record-setting $5 million to Clinic research

– Mortgage rates dip below 6%

MANAGEMENT (back to top)
– Baird honors Bucyrus for management

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National Business Roundups ( back to top)
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