From WisBusiness.com …
— Belgian brewer InBev has announced it will buy its American rival, St. Louis-based Anheuser-Busch for $52 billion.
The acquisition means control over America’s largest brewer — and the No. 2 worldwide — moves overseas. Anheuser-Busch has more than 48 percent of the American market share with beers that include Bud Light.
August Busch IV, Anheuser-Busch President and CEO, said he was pleased with the deal.
InBev first bid for Anheuser-Busch on June 11. Its beers include Stella Artois and Becks. The sale must be approved by shareholders and European and U.S. antitrust regulators.
The merger will produce the world’s largest brewer and the fourth-largest consumer product company worldwide. The companies said all U.S. breweries will remain open.
— The Mississippi River is an environmental gem, tourist attraction and transportation and shipping route all in one for Western Wisconsin.
But, it can be awfully tough to get across if you start having bridge problems. A ferry service should be at least explored to see if it could take some traffic and stress off the bridges.
See Gregg Hoffmann’s column at http://www.wisbusiness.com/index.iml?Content=202
— Mithridion, a Madison startup drug development company, has begun Phase 1 clinical trials on its first drug candidate, MCD-386.
The small-molecule compound is designed to treat Alzheimer’s patients, stopping or slowing the progression of the processes believed to cause brain cell death.
See release: http://www.wisbusiness.com/index.iml?Article=130915
— The Midwest unit of the Air Line Pilots Association (ALPA) says Midwest Airlines is not bargaining in good faith and refuses to budge from its request for drastic pay cuts.
Faced with substantial losses caused by skyrocketed fuel prices that are crippling the airline industry, Midwest Airlines is demanding that its pilots take pay cuts of 45 to 65 percent.
A junior captain’s annual salary would drop from $120,000 to $31,000. A Midwest senior captain’s salary would drop from $150,000 to $79,000 under the company’s proposal.
See story: http://www.biztimes.com/daily
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Lab Safety Supply, Inc. Acquires Highsmith, Inc.
Ladish Acquires Aerex Manufacturing
Lt. Governor Lawton and Wisconsin Farmers Union Join Forces to Advise State Farmers on Opportunities for Them in Carbon Trading
Marketplace 2008 to Showcase Wisconsin Minority Business Awards
MGD 64 to Sponsor National Triathlons
MyWeather Announces Unique Weather Application for iPhone and iPod Touch for Apple App Store
OWN Statements on Justice Ziegler’s Participation in Menasha Corp. Case
Toyota Brings ‘Highway to the Future: Mobile Hybrid Experience’ to Hybridfest 2008
For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82
Mithridion Announces Commencement of Phase I Clinical Trial of Investigational Drug for Alzheimer’s Disease
Companies Maintaining Realistic Outlook of Recession Impact on Insurance Claims, According to Wausau-Sponsored Survey
Harley-Davidson to Acquire MV Agusta Group Expanding Presence in Europe
Johnson Controls and IBM Develop Software Solution to Help Data Center
Union fears Midwest Air near bankruptcy: Pilots representative accuses airline of not bargaining in good faith… The corporate parent of Midwest Airlines appears headed toward a Chapter 11 bankruptcy filing, the head of the company’s pilots union said Friday. Jay Schnedorf, chairman of the Air Line Pilots Association’s Midwest Airlines chapter, reached that conclusion based on the company’s response to the union’s proposal on possible wage cuts. In a statement issued to chapter members, Schnedorf said Midwest Air Group Inc., the airline’s corporate parent, is not bargaining in good faith. The airline disagreed with the union’s characterization in a statement of its own.
Tavern League a force to be reckoned with: In the bars and restaurants of most Wisconsin cities, the influence of the state’s tavern league hangs in the air. Wisconsin, unlike every state that surrounds it, allows smoking in its taverns — a testament to the clout of the Wisconsin Tavern League, one of the most powerful special-interest groups in the state. “They are able to stop things that they don’t like and they are able to get much of what they want,” said Mike McCabe, executive director of the government watchdog group the Wisconsin Democracy Campaign. “I don’t think there’s any interest group that bats 1000, but their batting average is pretty high. That’s a testimony to the industry’s influence.”
Doyle praises Door County policies: State must preserve lakes, manufacturing… Door County, in the words of Gov. Jim Doyle, is a microcosm of the state, growing both its tourism and manufacturing industries while preserving the environment. Doyle made his remarks Friday at the Landmark Resort. Doyle, accompanied by state Tourism Secretary Kelli Trumble, spoke to about 60 people connected with the county tourism industry. Doyle outlined strategies to improve tourism in Door County and Wisconsin. Doyle touted the recent signing of the Great Lakes Compact as an opportunity to partner with the federal government. The lakes, he added, may now demand as much federal money as the Everglades.
Communities planned for life with fewer mills: The paper mill is closed. Not for the summer. Not for deer hunting. Not for maintenance. The mill here, which over the last 112 years helped build this village along the Wisconsin River, is likely closed for good. But the region, centered around Wisconsin Rapids about 100 miles north of Madison, may be more prepared for the blow than many communities. Redevelopment efforts over the last four years are getting national attention and providing a template for other towns that have lost major employers. “We ‘ve got to think differently because traditional ways of thinking aren ‘t going to compete against every other community who is losing its industry here in the Upper Midwest, ” said Dean Ryerson, a longtime civic leader and educator in the area.
Corn prices cutting into ethanol profits: For months, the country has debated how much ethanol production has to do with the skyrocketing price of corn. Now, the question can be turned upside-down: How much is the spike in corn prices affecting ethanol plants? According to the Chicago Board of Trade, the price of ethanol has risen 49 percent over the past year. The price of the corn used to create ethanol, however, has shot up 123 percent, pushed by the weak dollar, recent flooding and the increase in ethanol production, among other things. That leaves ethanol plants in a pickle, said Randy Fortenbery, UW-Madison professor of agribusiness. The price of ethanol depends more on demand and the price of gas than it does on the price of corn, meaning ethanol plants can’t necessarily pass increased costs on to the consumer, he said.
Anheuser-Busch agrees to be sold for $52 billion: Anheuser-Busch has agreed to sell itself to the Belgian brewer InBev for about $52 billion, the two companies confirmed Monday in a joint release, putting control of the nation’s largest beer maker and a fixture of American culture into a European rival’s hands. The board of both companies have approved the deal, the statement said. The all-cash deal, for $70 a share, will create the world’s largest brewer, uniting the maker of Budweiser and Michelob with the producer of Stella Artois, Bass and Brahma. Together, the two companies would have sales of more than $36 billion a year, surpassing the current No. 1 brewer, SABMiller of London.
WISBUSINESS FEATURED COLUMNISTS
– GREGG HOFFMANN: Contributor, WisBusiness.com
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– TOM BURZINSKI: IT executive and consultant
– Renewable synergy
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– Support for water innovation rated tepid
BIOTECH (back to top)
– Shawano looks into landfill gases as fuel source
– Parade kicks off Farm Technology Days
– Government will backstop Fannie Mae, Freddie Mac
– Harley-Davidson to announce earnings on Thursday
MANUFACTURING (back to top)
– UW-Rock reaches out to GM
– State legislative committee to look at overtime
– Midwest Airlines pilots, company dispute talks
SMALL BUSINESS (back to top)
– Lou’s Bootery to reopen in Suamico center
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INVESTING (back to top)
– June had good news for a select few
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REAL ESTATE (back to top)
– Slide continues for home sales, construction
AGRIBUSINESS (back to top)
– Corn Growers Comment on Farm Bureau’s Food Price Report
– UWP Researches Impacts of Ag Practices on Water Quality
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RETAIL (back to top)
– 2 Shopko Express stores open
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UTILITIES (back to top)
– Power out 2 days after swerving driver hits pole
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HEALTH CARE (back to top)
– GE’s health care unit healthy
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– Marine Bank’s parent denied transfer request
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MANAGEMENT (back to top)
– Hansen to join Heartland, Avastone
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BUSINESS COLUMNS (back to top)
– Mick Hager: Customer care is priority No. 1
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