From WisBusiness.com …
— The Dow Jones average fell sharply immediately after the opening bell, before recovering somewhat. It was down about 300 points as of 9 a.m.
— Several companies have notified the state about a combined 290 layoffs, although not all of those are expected to be permanent.
*Tecumseh Power Systems announced 70 permanent layoffs in Grafton and 20 in New Holstein, resulting in the closure of both locations. The layoffs are expected to occur between between Dec. 8 and June 30. The layoffs include salaried employees and hourly warehouse workers.
*Marinette Marine announced 137 layoffs beginning Oct. 26. The company attributed the layoffs to the failure to win one military contract and the postponement on the decision of another. An uptick in business or reconsideration of military contracts could mitigate the layoffs.
*Wick Builders in Marshfield said it is permanently laying off 63 workers beginning in late December due to a significant downturn in business.
— Menzie Chinn, a professor in the Robert M. La Follette School of Public Affairs and the Department of Economics at the University of Wisconsin-Madison, will discuss “The Global Financial Crisis: What You Need to Know Now” in a lecture sponsored by the UW-Madison Center for World Affairs and the Global Economy.
The talk will be held at noon on Thursday, Oct. 30, in the Capitol Conference Room at Grainger Hall, 975 University Ave. The event is free and open to the public.
— Read a new advice piece on how Internet-based phone systems can help a business with sales and customer satisfaction: http://www.wisbusiness.com/index.iml?Article=139798
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**NOV. 18: A post-election look at where the state economy is heading**
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Featuring: Commerce Secretary Richard Leinenkugel, former Commerce Secretary Cory L. Nettles of Quarles & Brady, Competitive Wisconsin Director and former Commerce Secretary William McCoshen, state Sen. Ted Kanavas, a member of the Senate committee on economic development, and UW-Madison political scientist Ken Goldstein.
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Presented by WisPolitics.com/WisBusiness in cooperation with Competitive Wisconsin, MMAC and Discovery World. Quarles & Brady is an initial sponsor of the event.
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Press Releases
· AG Van Hollen: Credit repair: How to do it yourself and avoid a scam
· American Cancer Society: Fond du Lac passes comprehensive smoke-free ordinance
· Dept. of Commerce: Fifteen communities receive Wisconsin Waterfront Revitalization grants
· Dept. of Commerce: Gov. Doyle announces rural economic development loan
· Dept. of Workforce Development: DWD Sec. Gassman elected to national position
· Wisconsin Bio Industry Alliance: Biodiesel basics #15: Biodiesel use approved by machine manufacturers
For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82
TOP STORIES
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Report could help push Kenosha casino forward: The Menominee Indian Tribe of Wisconsin is hoping that a controversial report siding with the tribe’s plan to open a grandiose $808 million off-reservation casino and entertainment complex at Dairyland Greyhound Park in Kenosha will help push the federal government to approve the proposal. The $50,000 report, funded entirely by the tribe, has at least one Kenosha-area lawmaker and longtime Kenosha casino opponent, the Forest County Potawatomi Community, raising questions about the report’s validity. The controversy is heightened by the fact that the study came out of the University of Wisconsin-Madison’s La Follette School of Public Affairs, which is known as an objective institution.
http://www.bizjournals.com/milwaukee/stories/2008/10/27/story3.html?b=1225080000^1722003
Obama sticks up for Midwest Airlines workers: Barack Obama is a busy man these days. But not too busy to express concern about the treatment of unionized employees of the airline that provided the plane that got him from campaign stop to campaign stop last summer. Earlier this year, Obama and his campaign crew jetted around the country on a plane chartered from Wisconsin-based Midwest Airlines, which Wisconsinites of course thought was cool. But Obama does not think it’s cool that Midwest officials have proposed wage and benefits cuts for its flight attendants.
http://www.madison.com/tct/news/311056
State workers may not be insulated from frigid economy: The national economic downturn could put a chill on state salaries and lead to fewer state workers. Gov. Jim Doyle has warned that the state budget could be heading into the red by $3 billion. Todd Berry, president of the research group the Wisconsin Taxpayer’s Alliance, said the state’s finances could have repercussions on state jobs
http://www.greenbaypressgazette.com/article/20081024/GPG0101/810240640/1207&located=RSS
Stimulus could pay off in state : Wisconsin companies that make equipment used in road and bridge building could benefit from the proposed federal economic stimulus package that would likely include billions of dollars for infrastructure improvements. Critics of the plan, including the chief economist for the U.S. Department of Transportation, say such projects are too slow getting started to energize the economy any time soon. The $150 billion plan unveiled last week by House Speaker Nancy Pelosi (D-Calif.) would pour federal funds into construction projects that could be up and running within 90 days.
http://www.jsonline.com/story/index.aspx?id=809601
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WISBUSINESS FEATURED COLUMNISTS
– 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
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TECHNOLOGY (back to top)
– Hal Leonard aims for ‘Rock Band’ gamers
http://www.bizjournals.com/milwaukee/stories/2008/10/20/daily44.html
BIOTECH (back to top)
– Madison’s Virent wins award for biorefinery development
http://www.madison.com/tct/business/310986
ECONOMY (back to top)
– 3rd quarter foreclosures in U.S. up 71 percent from 2007
http://www.madison.com/wsj/home/biz/310968
– Thousands of IRS stimulus checks lying unclaimed in state
http://www.jsonline.com/story/index.aspx?id=809599
MANUFACTURING (back to top)
– Mercury Marine hurt by low sales in third quarter
http://www.postcrescent.com/article/20081024/APC03/810240506/1028
– Brunswick, Mercury Marine post losses
http://www.bizjournals.com/milwaukee/stories/2008/10/20/daily42.html
– Cross Country: Raemisch Implement kicks into high gear
http://www.madison.com/tct/business/310959
– Strattec profits plummet nearly 100 percent
http://www.bizjournals.com/milwaukee/stories/2008/10/20/daily48.html
– Restructuring cuts Johnson Controls profit
http://www.bizjournals.com/milwaukee/stories/2008/10/20/daily40.html
– Stark invests in Virginia lens firm
http://www.bizjournals.com/milwaukee/stories/2008/10/20/daily39.html
LABOR (back to top)
– National job losses accelerate
http://www.postcrescent.com/article/20081024/APC03/810240508/1028
SMALL BUSINESS (back to top)
– The Buzz: Solea Mexican Grill expands in Menasha, Neenah
http://www.postcrescent.com/article/20081024/APC03/810240502/1028
INVESTING (back to top)
– Associated Banc-Corpto pay 32-cent dividend
http://www.greenbaypressgazette.com/article/20081024/GPG03/810240637/1247
– Journal Communications swings to 3rd-quarter loss
http://www.madison.com/tct/business/310946
– Covance 3rd-quarter profit rises 15 percent
http://www.madison.com/tct/business/310954
– Initial public offerings on hold
http://www.bizjournals.com/milwaukee/stories/2008/10/27/story1.html?b=1225080000^1721918
– Nervous investors turn to deposit accounts
http://www.bizjournals.com/milwaukee/stories/2008/10/27/story2.html?b=1225080000^1721943
REAL ESTATE (back to top)
– New Village Cooperative of Wausau offers seniors a different housing option
http://www.wausaudailyherald.com/article/20081024/WDH0101/810240479/1581&located=RSS
– Boardwalk work getting started
http://www.greenbaypressgazette.com/article/20081024/GPG03/810240636/1247
AGRIBUSINESS (back to top)
– Miller-St. Nazianz’s equipment not for hobby farming
http://www.greenbaypressgazette.com/article/20081024/GPG03/810240634/1247
– Madison firm lands contract to pitch Wisconsin cheese nationally
http://www.madison.com/tct/business/310940
TRANSPORTATION (back to top)
– Fuel costs drag AirTran to $107M loss
http://www.bizjournals.com/milwaukee/stories/2008/10/20/daily43.html
RETAIL (back to top)
– New owners of Wisconsin Rapids’ ShopKo Plaza Mall want to revamp building, attract more businesses to community
http://www.wisconsinrapidstribune.com/article/20081024/WRT0101/810240730/1806&located=RSS
REGULATION (back to top)
– Mayor Barrett opposes sick leave law
http://www.bizjournals.com/milwaukee/stories/2008/10/20/daily45.html
TOURISM (back to top)
– Great Wolf reducing the days it will be open
http://www.madison.com/wsj/topstories/311017
UTILITIES (back to top)
– Solar system being installed
http://www.greenbaypressgazette.com/article/20081024/GPG03/810240635/1247
– Madison: Thousands of area residents are without heat, light
http://www.madison.com/wsj/topstories/310996
– City unveils federal solar power initiative
http://www.jsonline.com/story/index.aspx?id=809631
FINANCIAL SERVICES (back to top)
– MGIC eliminates dividend
http://www.bizjournals.com/milwaukee/stories/2008/10/20/daily46.html
– Pewaukee’s Foundations Bank owners to buy Amerihome Mortgage Co.
http://www.jsonline.com/story/index.aspx?id=809598
Media Partners
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—Small Business Times
—Madison Magazine
—BusinessWeek
National Business Roundups ( back to top)
–YAHOO FINANCE: http://finance.yahoo.com/
–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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