(WisBusiness) THURS News Summary — 18 Sept. 2008

From WisBusiness.com …

— Nine Wisconsinites are on the latest Forbes magazine list of the 400 wealthiest people in the country. Topping the Wisconsin list is Eau Claire’s John Menard, whose $5 billion estimated net worth placed him No. 68 overall, making him the only Wisconsin resident in the top 100.

Next on the list were Herbert Kohler and Donald Schneider, who both ranked No. 105 with an estimated $3.5 billion each in net worth.

See the full Wisconsin list:
http://www.forbes.com/lists/2008/54/400list08_The-400-Richest-Americans-Wisconsin_7Rank.html

— Expanding business opportunities for the state’s minority-owned companies is the focus of Marketplace 2008, the 27th annual governor’s conference on minority business development, which will be held on Oct. 2 at the Wyndham Milwaukee Airport & Convention Center in Milwaukee.

This year’s keynote speaker is Mike Thompson, president and CEO of Fair Oaks Farms, LLC. Thompson is a veteran of the McDonald’s system for over 20 years, holding various positions in supply chain and operations for the fast food giant.

For more information about Marketplace 2008, or to register go to the Marketplace website – http://marketplace.wi.gov/

— Actuant Corp. announced the signing of an agreement to acquire the stock of the Cortland Companies. The purchase is subject to customary regulatory approvals and closing conditions, and is expected to close within 30 days. Total consideration for the transaction is approximately $230 million, which will be funded from Actuant’s cash and revolving credit facility.

— The state reached a new 25-year gaming compact with the Ho-Chunk Nation that resolves a 4-year-old dispute.

The tribe will pay the state $60 million up front and then make annual payments starting in 2009.

The tribe and state have been at odds over the gaming compact since the Supreme Court in 2004 invalidated portions of the deals Gov. Jim Doyle had reached with the state’s tribes that have casinos.

*See the DOA release:
http://www.wispolitics.com/index.iml?Article=136308

*See the Ho-Chunk release:
http://www.wispolitics.com/index.iml?Article=136310

— Waste Management of Wisconsin has set a deadline of 4 p.m. Sunday for Teamsters Local Union 200 to act on the company’s Sept. 10 contract offer.

See the Waste Management press release:
http://www.wisbusiness.com/index.iml?Article=136403

**********************************

WISPOLITICS.COM/WISBUSINESS.COM: “DIAGNOSING A POLICY FIX TO U.S. HEALTH CARE”

WisPolitics.com/WisBusiness.com is convening a half-day conference Friday, Sept. 19 at the Alliant Energy Center Exhibition Hall in Madison to bring together national, state and Canadian experts to discuss how health care providers, insurance companies and policy makers are addressing proposed health care changes this election year.

The event is open to the public. Individual tickets cost $60 each. Tables are available for purchase on a first-come, first-served basis at a cost of $450. Student discounts also are available. The ticket price includes two meals.

For ticket information, contact Jim Greer at 608-237-6296 and [email protected]

Initial sponsors for this event include the Partnership to Fight Chronic Disease (PFCD), Marshfield Clinic/Security Health Plan, Dean/St. Mary’s and Takeda Pharmaceuticals North America, Inc. The government of Canada is an event partner.

See more: http://www.wispolitics.com/index.iml?Article=135065

****************************************
THANKS TO OUR WISBUSINESS SPONSORS

****************************************

QUICK LINKS
Use these links to jump directly to a news summary topic
Technology | Biotech | Economy | Manufacturing | Labor | Small Business | Investing | Real Estate | Agribusiness | Transportation | Retail | Regulation | Tourism | Utilities | Health Care | Financial Services | Management | Business Columns |

Press Releases
· Actuant Signs Agreement to Acquire the Cortland Companies
· Clifton Gunderson: Presents free webinar on building effective tax strategies
· Dept. of Agriculture, Trade and Consumer Protection: Grant-writing for farmers, farm businesses is topic of two autumn workshops
· Dept. of Agriculture, Trade and Consumer Protection: Up and comers: Dairy goats are focus of three October events
· Dept. of Commerce: Register for state’s premier MBE event – Marketplace 2008, October 2 in Milwaukee
· Harley-Davidson, Inc. declares dividend
· Kohl’s: Donates $500,000 to the American Red Cross for Hurricane Ike relief efforts
· Modine expands commercial separated combustion unit heater line with launch of tubular heat exchanger design
· Trane: Barron, Wis., school, community center and hospital share energy efficient wood-fired plant for HVAC needs
· UW-Madison: Feyzi named new director of physical sciences laboratory
· UW-Madison: Students move easily to emerging technologies
· Waste Management: Presses for action on contract offer

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


TOP STORIES
*************

A.O. Smith to build new factory in India: A.O. Smith Corp. today announced plans to locate the headquarters of its A.O. Smith India Water Heating Private Limited venture near Bangalore, where it plans to begin construction of a residential water heater manufacturing plant.
http://www.biztimes.com/daily/2008/9/17/ao-smith-to-build-new-factory-in-india

Actuant to buy Cortland for $230M: Actuant Corp. of Butler said Wednesday that it has agreed to buy Cortland Companies, a New York City firm that produces electro-mechanical and steel cables and umbilicals, for $230 million. Actuant (NYSE: ATU), a diversified industrial company, will acquire the stock of Cortland from an investor group led by Cortec Group, a New York City-based private equity investment firm. The purchase price will be funded from the company’s cash and revolving credit facility.
http://www.bizjournals.com/milwaukee/stories/2008/09/15/daily30.html

************************************************************
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
************************************************************

ECONOMY (back to top)
– State’s minority business conference ahead
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080918/GPG03/809180610/1247

– Wisconsin pension fund declines; effect unclear
http://www.madison.com/wsj/topstories/305414

– Milwaukee County pension fund drops 6.4% since start of year
http://www.jsonline.com/story/index.aspx?id=796255

MANUFACTURING (back to top)
– Mazomanie seeks tenant for Synergy printing company plant
http://www.madison.com/wsj/home/biz/305409

LABOR (back to top)
– NewPage mills have openings in Kimberly
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080918/GPG0101/809180590/1207&located=RSS

SMALL BUSINESS (back to top)
– Madison: Goben’s proposal to open used car lot hits wall
http://www.madison.com/tct/business/305240

INVESTING (back to top)
– Brady profits rise, but firm lowers ’09 outlook
http://www.bizjournals.com/milwaukee/stories/2008/09/15/daily23.html

REAL ESTATE (back to top)
– RDA lays over vote on new Waterfront developers
http://www.thenorthwestern.com/apps/pbcs.dll/article?AID=/20080918/OSH03/309180013/1128&located=RSS

– Council kills renovation plans for Houdini Plaza
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080918/APC0101/809180493/1004&located=RSS

– Milwaukee: City to present development plan for southeast side
http://www.jsonline.com/story/index.aspx?id=796207

AGRIBUSINESS (back to top)
– State Agencies Begin Massive Emerald Ash Borer Survey
http://www.wisconsinagconnection.com/story-state.php?Id=1131&yr=2008

– WFU Calls for COOL to be Properly Implemented
http://www.wisconsinagconnection.com/story-state.php?Id=1132&yr=2008

RETAIL (back to top)
– Manitowoc: Shoppers can ‘expect great things’: New Kohl’s department store set to open Sept. 28
http://www.htrnews.com/apps/pbcs.dll/article?AID=/20080918/MAN0101/809180432/1358&located=RSS

– Onalaska: Buffalo Wild Wings to open Monday
http://www.rivervalleynewspapers.com/articles/2008/09/18/business/00cahalan.txt

REGULATION (back to top)
– Brown County Board votes to try again on Packers lease deal
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080918/GPG0101/809180590/1207&located=RSS

– States urge MillerCoors to axe alcoholic energy drink
http://www.bizjournals.com/milwaukee/stories/2008/09/15/daily34.html

– Madison: City takes a close look at liquor licenses
http://www.madison.com/tct/news/stories/305440

TOURISM (back to top)
– Ho-Chunk tribe, Wisconsin reach gambling deal
http://www.madison.com/tct/news/stories/305378

UTILITIES (back to top)
– Hearings will look at possible WPS rate hikes
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080918/GPG03/809180609/1247

FINANCIAL SERVICES (back to top)
– Mortgage refinancing booms
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080918/APC03/809180526/1028

MANAGEMENT (back to top)
– Affinity names leader in Chilton
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080918/APC03/809180523/1028

– Johnson Controls adds officers
http://www.bizjournals.com/milwaukee/stories/2008/09/15/daily33.html

– Aurora executive Don Nestor plans to retire on Dec. 31
http://www.jsonline.com/story/index.aspx?id=796224

Media Partners
Channel3000
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

(c)2008 WisBusiness.com.
All rights reserved. Reproduction or retransmission of this publication, in whole or in part, without the express permission of WisBusiness.com is prohibited. Unauthorized reproduction violates United States copyright law (17 USC 101 et seq.), as does retransmission by facsimile or any other electronic means, including electronic mail.