From WisBusiness.com …
— Kevin Mansell, a 26-year Kohl’s Corp. veteran who has served as president since 1999, has been named president and chief executive officer of the company. He will continue to serve on the Board of Directors.
Mansell, 56, succeeds Larry Montgomery, 59, who will remain chairman of the board and will hold full-time management responsibilities for the organization’s strategic growth and talent management initiatives. Montgomery will continue to manage Kohl’s human resources, legal and real estate departments.
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— UW System President Kevin Reilly has asked the Board of Regents to endorse his proposed 2009-2011 UW operating budget request and its proposed $124 million spending increase.
The proposal includes an increase of nearly $88 million in state GPR plus a $36 million increase in fees, funded largely through tuition. Of that, $73 million would cover anticipated cost increases, while the remaining $51 million would go toward the UW’s Growth Agenda.
Reilly said asking for a funding increase could be problematic given the state’s shaky financial picture, but he noted that Gov. Jim Doyle had specifically exempted the UW from budget instructions ordering state agencies to cap spending increases. Doyle indicated he would permit a GPR increase for the UW for programs and research focused on economic development.
UW Associate Vice President Freda Harris noted that the operating budget as proposed would add access to the UW for more than 7,000 additional students.
Reilly added that while a number of factors remain unresolved with regard to setting tuition, including a faculty pay plan and funding of veterans’ tuition remission, the UW estimates the budget will result in tuition increases of 5 to 6 percent in the next two years — hikes similar to the current budget.
If approved, the budget request will be forwarded to the Department of Administration in September for consideration in the next state budget.
— Abbott Laboratories plans to eliminate 1,000 jobs, including some at its Lake County headquarters just across the Wisconsin state line in Abbott Park, Ill.
The jobs cuts will come as part of a restructuring of the company’s diagnostic business, even though the business is growing, according to a report the company filed with the U.S. Securities & Exchange Commission this week.
The drug and medical device company expects the restructuring plan, to be implemented over the next four years, to generate more than $150 million in annual pre-tax savings.
Abbott said the cuts will be made globally, but the company declined to say how many jobs will be cut in Illinois.
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For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82
Wiley blasts WMC’s influence: In an incendiary parting shot, outgoing UW-Madison Chancellor John Wiley reopened a feud with conservatives in and out of the Capitol by accusing the state’s largest business lobby of undermining support for the school in the Legislature. Wiley’s essay in the September 2008 issue of Madison Magazine criticized Wisconsin Manufacturers & Commerce for pursuing policies he said limited the flagship public school’s growth and presented the biggest roadblock to the state’s economic success. “Our politics has become poisonous swill, and the most influential voice for the business community has been taken hostage by partisan ideologues,” he wrote.The essay comes within days of Wiley’s replacement, Carolyn “Biddy” Martin, taking the school’s reins and is the latest in a series of criticisms of the business lobby.
New UW stem cell bank launched: The WiCell Research Institute, a private, not-for-profit supporting organization to the UW-Madison, is launching its own stem cell bank to distribute cell lines beyond the 21 lines eligible for federal funding and distribution through the National Stem Cell Bank. “We are establishing the WiCell Bank to grow, test, store and distribute cell lines that the National Stem Cell Bank currently is unable to offer since it is limited to the 21 human embryonic stem cell lines approved for federal funding,” said Erik Forsberg, executive director of the WiCell Research Institute. WiCell hosts the National Stem Cell Bank for the National Institutes of Health under a federal contract.
Oshkosh Corp. opens parts plant in Texas: Oshkosh Defense, a division of Oshkosh Corp., on Thursday hosted a grand opening of its newest manufacturing facility in Killeen, Texas. The facility manufactures aftermarket components for the Oshkosh Heavy Expanded Mobility Tactical Truck, which is used by the U.S. Army. The 230,000-square-foot facility employs 37. Oshkosh Corp. is the parent of Pierce Manufacturing, which employs about 1,750 people at facilities in Grand Chute and the Town of Menasha.
Software company considers Delafield: RedPrairie had once planned to relocate in Park East area … Software maker RedPrairie Corp., which had once planned to move its corporate headquarters from the Town of Brookfield to downtown Milwaukee, is now focusing on a Delafield site that had been proposed for a shopping mall. RedPrairie executives are considering a site south of I-94 and east of Highway C owned by investor Robert Lang, according to real estate industry sources. Those sources, who asked not to be identified, said the Lang site is the preferred location for RedPrairie’s headquarters but also said a final decision has not yet been made. Representatives of RedPrairie contacted Delafield officials about a month ago to discuss the site, said Tim Schuenke, city administrator. He said the company has not submitted plans.
School Specialty earnings down: School Specialty on Thursday reported a 15 percent drop in net income, to $35.1 million, in its fiscal 2009 first quarter. Sales revenues during the first quarter reached $379 million, a 2 percent decline from one year ago. Earnings per share from continuing operations were $1.84 per share, 3 cents off the 2008 pace. David J. Vander Zanden, chief executive officer, said order volume for the quarter was in line with company expectations, although timing delays moved deliveries into the second quarter. “At this point in the back-to-school season we are seeing growth in orders in both our Specialty and Essentials segment, excluding adoption revenues,” he said in a statement. The company expects to recover from the delays, he said.
Briggs reintroduces Allis-Chalmers name: Briggs & Stratton Corp. said Thursday that it will reintroduce the Allis-Chalmers brand with two new lawn tractors to be sold at Simplicity dealers beginning this fall. The AC130 model will be available in two versions: a 23-horsepower unit with 42-inch mowing deck and a 24-horsepower tractor with a 46-inch mowing deck, Wauwatosa-based Briggs & Stratton said. The new 23-hp AC130 retails for approximately $1799; the 24-hp unit retails for approximately $1999. Allis-Chalmers first entered the farm equipment business in 1914 and, over the next 75 years, the company was responsible for many innovations in the farm equipment industry. The West Allis company went bankrupt and vacated its large industrial complex in that city in the 1980s.
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– New UW research reveals how male sex traits evolved
– Domestic Biofuels Study Committee Kicks Off Fact-Finding Mission
ECONOMY (back to top)
– Badger Mining pond leaked a foot of water over 117 acres in Jackson County
– Bon-Ton reports bigger loss
MANUFACTURING (back to top)
– NewPage to run paper machine into September
– Oshkosh Corp. to cut 1,440 jobs worldwide
– Metal-Era expands with $2 million facility
LABOR (back to top)
– Gannett Central to close press facility in Point
– Abbott Labs announces plan to cut 1,000 jobs over next few years
– July unemployment by the numbers
– Wisconsin workplace fatalities rose in 2007
SMALL BUSINESS (back to top)
– New business: The Consignment Shop
– Grafton Family Restaurant makes way for new owner
INVESTING (back to top)
– Economy stuck in low gear
– Local firm wins bid to design Job Corps campus in Milwaukee
– Luxury hotel developer wants $2 million from city
AGRIBUSINESS (back to top)
– New USDA Funds to Help Producers Protect Conversation Uses After Disaster
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– Commission calls for rebidding on airport project
– Marquette Interchange builders awarded $4 million bonus
– West Bend awaits state’s approval for electric cars
– Local bars, restaurants profit from Brewers’ success
– Gandrud gets Jeep franchise
– MillerCoors renews accord with Buffalo Bills
– Midwest Airlines behind on gate fees to Mitchell Airport
TOURISM (back to top)
– Great Outdoors Festival opens today in Oshkosh
UTILITIES (back to top)
– MATC meets wind challenge
HEALTH CARE (back to top)
– State requires new school vaccinations
– Out of options, CIB Marine seeks merger
– Allco Credit Union shows small profit after last year’s losses
– Wells Fargo aims another $1B at black-owned businesses
– Weigh before you pay: Debit or credit?
MANAGEMENT (back to top)
– Kohl’s CEO could earn up to $3.65 million
– Oracle CEO is highest paid
– BTN inks another cable deal; Charter still on sidelines
– Shopko donates $1 million to Concordia
– Jacque Georgia: Credit counselors offer many services
National Business Roundups ( back to top)
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–CNBC BUSINESS NEWS: http://www.cnbc.com
–ABC BUSINESS NEWS: http://abcnews.go.com/sections/business/
–GOOGLE NEWS: http://news.google.com/news/en/us/business.html
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