(WisBusiness) FRI News Summary — 3 Oct. 2008

From WisBusiness.com …

— The state Department of Commerce has issued its 2008 Annual Economic Development Programs Report, detailing the benefits and results of the state’s economic development programs.

The report was prepared in response to a 2006 Legislative Audit Bureau review of Wisconsin’s economic development programs. It includes details on the economic development programs administered by Forward Wisconsin; Wisconsin Department of Agriculture, Trade and Consumer Protection; Wisconsin Department of Commerce; Wisconsin Department of Natural Resources; Wisconsin Department of Tourism; Wisconsin Department of Transportation; Wisconsin Housing and Economic Development Authority; Wisconsin Technical College System; and University of Wisconsin System.

See the report: http://www.commerce.state.wi.us/bd/BD-Act125-2008.html

— Lt. Gov. Barbara Lawton will serve as head of a National Lieutenant Governor’s Association mission to China. Lawton leaves on Saturday for the eight-day trip to the cities of Beijing, Chengdu, Mianyang and Shanghai.

“There is no way you can participate in a global economy without an understanding of China and building relationships with China,” Lawton told WisPolitics. She said this will be her first trip to Asia.

Gov. Jim Doyle traveled to China and Japan on a trade mission last year. He also recently traveled to Germany.

See the press release:


— Business leaders from around Wisconsin stressed minority diversity and partnerships with larger firms at Milwaukee’s 27th annual Marketplace Trade Fair Thursday, saying they were key strategies for guaranteeing future economic growth for Wisconsin and its small businesses.

President and CEO of Fair Oaks Farms LLC Michael Thompson delivered the keynote speech to a roomful of nearly 350 area minority business representatives.  He said he could sum up the importance of Wisconsin’s cooperation with small minority businesses in two words: “economic growth.”

Thompson said that smaller businesses have the agility and responsiveness to compete in today’s ever changing marketplace. He also shared his belief in the power of minority diversity in business, saying it nourishes the creativity and inventiveness that are necessary in the business community.

Thompson also encouraged young enterprises to build partnerships with larger firms to enhance diversity in the business environment.

Thompson said his company provides meat products for a number of corporations including McDonald’s, Wal-Mart and Panera Bread, adding that they average $200 million in annual revenue.

— The Department of Commerce honored four Wisconsin companies and named the winners of the Outstanding Business (large and small company) Award, Rising Star Award and Good Citizen award at a special reception in conjunction with the Marketplace Trade Fair. The four awards are made to Wisconsin-based ethnic minority businesses (as defined by the state of Wisconsin).

See the list of award recipients:




Dave Stark of Stark Company Realtors on the State of Housing Industry

The next WisBusiness.com Luncheon at the Madison Club, organized by the Madison Club, Madison Magazine, and WisBusiness.com, is slated for Monday Oct. 6 at 11:45 a.m.. The guest is Dave Stark of Stark Company Realtors in Madison. http://www.starkhomes.com/aboutstark.html

The event is open to the public, and the price for lunch is $19. Call the Madison Club to register at (608) 255-4861. The luncheon starts at 11:45 a.m. and ends at 1 p.m.

See more: http://www.wisbusiness.com/index.iml?Article=137157



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Press Releases
· Alliant Energy: Committed to biofuels investment and new ‘green’ economy
· DWD: Secretary Gassman applauds success of people with disabilities as state, nation observe National Disability Employment Awareness Month
· Gov. Doyle: Doyle testifies before Trade Commission on unfair dumping of lightweight thermal paper
· Lt. Gov. Lawton: To lead mission to China
· RedPrairie: RedPrairie Performance Management introduced in Southeast Asia
· Sierra Club: Setting the record straight – Sierra Club and Alliant Energy
· Wisconsin Bankers Association: Banks applaud Senate action on stabilization package
· Wisconsin Hospital Association: Health care workforce shortages expected to intensify within the decade

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


Wells Fargo buying Wachovia in $15 billion stock swap: In an abrupt change of course, Wachovia said Friday it agreed to be acquired by San Francisco-based Wells Fargo & Co. in a $15.1 billion all-stock deal, trumping rival suitor Citigroup’s plan to acquire Wachovia’s banking operations. A key difference is that the Wachovia deal will be done without government assistance, while the Citigroup deal would have been done with the help of the Federal Deposit Insurance Corp. “This deal enables us to keep Wachovia intact and preserve the value of an integrated company, without government support,” Robert Steel, Wachovia’s president and chief executive, said in a statement.

Kohl’s opening 47 new stores: Kohl’s Corp. says it plans to open 47 more department stores by the end of the year, bringing its total number of stores to 1,000. Forty-five of the new stores — including the store in Manitowoc that opened this week — are being built according to a design that is Leadership in Energy and Environmental Design precertified at the silver level from the U.S. Green Building Council.

Appleton Papers makes its case: A German papermaker and its customers told a federal panel Thursday that Appleton lost ground in the lightweight thermal paper market because of missteps. Representatives from Koehler America Inc., Papierfabrik August Koehler AG and Mitsubishi HiTec Paper denied dumping their lightweight thermal paper at below fair market price in the United States. They appeared before the International Trade Commission, a quasi-judicial panel.

WHEDA suspends lending: Wisconsin’s affordable-housing agency has temporarily stopped issuing mortgages for single-family homes because it’s having trouble raising the money needed to make the loans — a situation it said is a direct result of the national financial system crisis. It’s the clearest evidence yet that the crisis on Wall Street is hitting Wisconsin’s Main Street.

$3.8 million grant will assist Janesville workers: Nearly 800 workers who have lost their jobs as a result of cuts involving General Motors in Janesville will be able to receive skills training and job search assistance as a result of a U.S. Department of Labor grant that was announced Thursday.


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

BIOTECH (back to top)
– Sigma-Aldrich unit gets tax credits for expansion

ECONOMY (back to top)
– Green Bay: Four area companies make Inc.’s top 5,000

– Milwaukee: Area businesses feel crunch

– Lawton to lead mission to China

– Of top 25 metro areas, Milwaukee is only one where home prices rose

MANUFACTURING (back to top)
– Stocks extend declines on drop in factory orders

LABOR (back to top)
– $3.8 million grant will assist Janesville workers

– Update: Laid-off paperworkers rally at the Capitol

– Midwest chief says outsourcing was necessary step

SMALL BUSINESS (back to top)
– The Buzz: No fishing, just dining at Spinners in Grand Chute

INVESTING (back to top)
– Market woes test investors’ mettle

REAL ESTATE (back to top)
– Developer plans $40M project for Ruby Farm

– Credit malaise postpones projects around Bradley Center

– Bradley Center development alone can’t keep Bucks, Payne says

– Residences at Hotel Palomar project delayed

AGRIBUSINESS (back to top)
– Wisconsin Cows Take Top Honors at WDE’s Jr. Jersey Show

– Dairy Expo exhibits show a dazzling array of products

TRANSPORTATION (back to top)
– Southwest Airlines to enter Twin Cities market

RETAIL (back to top)
– Madison: True Value on north side to have grand opening

– Halloween merchandisers hope for big year

REGULATION (back to top)
– Baraboo financial adviser gets year in jail

– Arbitrator rules against former president of George Webb chain

– Judge rules against Ashley

TOURISM (back to top)
– EAA marks 25th anniversary this weekendhttp://www.thenorthwestern.com/apps/pbcs.dll/article?AID=/20081003/OSH0101/810030472/1128&located=RSS

UTILITIES (back to top)
– eating budget’s bite to increase

HEALTH CARE (back to top)
– Health care reform remains a factor in national debate

– Waukesha rehab hospital to open Tuesday

– Slump doesn’t stop new bank opening

– Investment fund for 10 private Wisconsin colleges restricts cash withdrawals

– Meissers will buy existing Wisconsin bank

MANAGEMENT (back to top)
– Milwaukee: Downtown cheap place to park

– Charter CEO gets 25 percent raise, $2 million signing bonus

Media Partners
Small Business Times
Madison Magazine

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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