(WisBusiness) THURS News Summary — 2 Oct. 2008

From WisBusiness.com …

— The nation’s credit markets may be all but locked up and the country’s finances teetering over an abyss, but Wisconsin’s economy is holding its own – at least for now.

That’s the assessment of David J. Ward, head of Madison-based NorthStar Economics and the acting chancellor at UW-Green Bay.

While the jobless rate has increased somewhat in Wisconsin in recent months, Ward called it surprising that more people have not been laid off. He said the unemployment rate is “nowhere near” what it was during the economic crises of past decades, though it is enough to make people “uncomfortable.”

Moreover, he said a state Commerce Department report released this week shows that although spending is flat, income is up half a percent, slightly more than the rate of inflation.

“But you can’t have a wobbly financial system and have that persist for long,” he said.

Nationally, though, “these are not good times… and if this (crisis) persists for long, everyone is going to take a hit,” including Wisconsin, said Ward, who holds a Ph.D. in economics from UW-Madison and also has served as an interim chancellor at UW-Oshkosh.

See more from Ward at www.wisbusiness.com

— Powered Green, a new Madison start-up, has launched a product the company says will let laptop users certify that their computers are essentially powered by renewable energy.

“We recognized people’s desire to reduce their environmental impact coupled with a lack of opportunity to express that commitment and identify themselves within the growing community of green devotees,” company co-founder Ted Durkee said.

The product — a small aluminum label called an “Energy Seal” — is currently on sale for $16 online and in Ancora Coffee Roasters stores in Madison. Of the $16 price tag, $14 goes to subsidize the production of enough energy from wind turbines to match or exceed the amount of energy a laptop uses over its lifetime. The other $2 pays for costs like the materials used in making the seal.

Read more about the company:

http://www.wisbusiness.com/index.iml?Article=137739

— Fashion Forward, a new WisBusiness advice column, debuts today.

Here’s an intro from the columnist:

My name is Mitch Bram. And I am the director of sartorial splendor with Tom James Clothing in Madison. The WisBusiness.com team and I will be working toward building a more Fashion Forward Wisconsin (that’s a riff on the state motto, folks). I look forward to sharing my advice and expertise on the subject of proper dress to ensure we all look and feel our best no matter what the occasion.

The first question he’ll address: Politicians aren’t always wearing ties … should I?

Read Bram’s answer:

http://www.wisbusiness.com/index.iml?Article=137769

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

NEXT WISBUSINESS.COM LUNCHEON SET FOR OCT. 6

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

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

NEXT CHECKPOINT SURVEY QUESTIONS DUE TODAY

Take advantage of an exclusive discount program for WisPolitics.com and WisBusiness.com Subscribers.

If you are a WisPolitics or WisBusiness subscriber, you’ll receive a 10 percent discount if you purchase two or more questions in the next monthly Checkpoint survey, a production of Wood Communications Group of Madison. That means the first question costs $900, and subsequent questions are $810 each.

The monthly “Checkpoint” survey of public opinion is a 500-person statewide random digit dial poll. The next survey is set to go into the field on Oct. 7.

Individual questions are due by Oct. 2. Contact Kennan Wood at Wood Communications Group. Call 608-259-0757 or e-mail [email protected]

****************************************
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
· Gov. Doyle: Announces $292,500 for Sigma Aldrich expansion
· Knupp & Watson: Announces more good for more non-profits
· State Treasurer Sass: Announces EdVest enhancements: Includes launch of industry-leading CD portfolios
· UW-Madison College of Engineering: Record career fair connects thousands of UW-Madison engineering students with recruiters
· UW-Madison: UW Credit Union joins UW-Madison scholarship effort
· UWM Foundation: Gregg Tushaus elected to the UWM Foundation Board of Directors
· Wisconsin Bankers Association: Bank group calls private ratings ‘flawed’
· Wisconsin Bankers Association: Wisconsin banks support deposit insurance increase

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


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

Senate clears financial industry rescue: After one spectacular failure, the $700 billion financial industry bailout found a second life Wednesday, winning lopsided passage in the Senate and gaining ground in the House, where Republicans opposition softened.
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20081002/APC0101/810020530/1004&located=RSS

Kohl, Feingold split on bailout package: Wisconsin’s senators were on opposing sides when the Senate passed a $700 billion bailout for the financial industry aimed at preventing the economy from going into a recession. Sen. Herb Kohl voted for the package Wednesday night while his fellow Wisconsin Democrat, Russ Feingold, was one of nine Democrats who voted against it.
http://www.thenorthwestern.com/apps/pbcs.dll/article?AID=/20081002/OSH0101/81001226/1128&located=RSS

Oshkosh Corp. lands $180M contract: The big orders just keep pouring in for Oshkosh Defense, a division of Oshkosh Corp. The company today announced a new contract of $180 million was awarded to supply 1,500 reducible-height armor kits to the U.S. Marine Corps Systems Command.
http://www.thenorthwestern.com/apps/pbcs.dll/article?AID=/20081002/OSH0101/310020007/1987

Regal acquires Dutchi motors: Regal Beloit Corp., a manufacturer of motion-control and power-generation products, says it has acquired Dutchi Motors B.V. for undisclosed terms. Dutchi is based in the Netherlands. It distributes Regal Beloit’s Hwada motor products and other industrial motors in Europe, South Africa, Russia and the Middle East.
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20081002/GPG03/810020636/1247

Modine to trim jobs, retiree medical benefits: Modine Manufacturing Co. is cutting jobs and eliminating post-retirement medical benefits as it restructures operations during a downturn in the automotive and truck industries. The company said Wednesday it plans to cut about 15% of the management positions at its Racine headquarters, including about 20 jobs. It also will discontinue post-retirement medical benefits for Medicare-eligible retirees, effective Jan. 1, resulting in $3.3 million in annual savings.
http://www.jsonline.com/story/index.aspx?id=801773

Super Steel named in $22M rail car contract: A commuter rail service that serves northern Virginia and Washington, D.C., has awarded a $22 million contract for 10 bi-level commuter railway cars that will be assembled at Super Steel Products Corp.’s plant in Milwaukee.
http://www.bizjournals.com/milwaukee/stories/2008/09/29/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
************************************************************

TECHNOLOGY (back to top)
– Badger shreds its way into the state spotlight
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20081002/GPG03/810020634/1247

– IT conference to be in Ashwaubenon
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20081002/GPG03/810020635/1247

– Avtex buys Delta Communications
http://www.bizjournals.com/milwaukee/stories/2008/09/29/daily32.html

BIOTECH (back to top)
– Locally made Botox competitor showing success
http://www.madison.com/tct/business/307459

ECONOMY (back to top)
– Manitowoc: Downtown boosters urged to dream big
http://www.htrnews.com/apps/pbcs.dll/article?AID=/20081002/MAN0101/810020488/1358&located=RSS

– Bailout bill needed to save economy, financial expert Gregory Valliere says
http://www.madison.com/wsj/home/biz/307481

– Foreclosures in southeastern Wisconsin jump 18% in September
http://www.jsonline.com/story/index.aspx?id=801772

– Federal foreclosure aid disappoints mayor
http://www.jsonline.com/story/index.aspx?id=801753

MANUFACTURING (back to top)
– Auto sales fall 27% on credit squeeze
http://www.jsonline.com/story/index.aspx?id=801795

– Johnsonville names Cramer-Krasselt agency of record
http://www.bizjournals.com/milwaukee/stories/2008/09/29/daily25.html

LABOR (back to top)
– Brewers fans quit work early
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20081002/APC0101/810020518/1004&located=RSS

– 38 trash haulers displaced in strike
http://www.jsonline.com/story/index.aspx?id=801755

– Suppliers gain insight at Manpower event
http://www.bizjournals.com/milwaukee/stories/2008/09/29/story17.html?b=1222660800^1706917

SMALL BUSINESS (back to top)
– Music memorabilia with a paycheck
http://www.madison.com/tct/business/307350

– Landmark lakefront eatery is up for sale, could close
http://www.jsonline.com/story/index.aspx?id=801754

INVESTING (back to top)
– Actuant lowers sales forecast
http://www.jsonline.com/story/index.aspx?id=801751

REAL ESTATE (back to top)
– Middleton office complex Esser Place has new look
http://www.madison.com/wsj/home/biz/307493

– SAFC gets tax credits for new building
http://www.madison.com/wsj/home/biz/307437

– UWM selects Mandel residence hall plan
http://www.bizjournals.com/milwaukee/stories/2008/09/29/daily36.html

AGRIBUSINESS (back to top)
– Prices drop for many Wis. farm products
http://www.htrnews.com/apps/pbcs.dll/article?AID=/20081002/MAN0101/810020490/1358&located=RSS

– September Milk Prices Expected to be Lower
http://www.wisconsinagconnection.com/story-state.php?Id=1192&yr=2008

– Production Up for Small Grains in Wisconsin
http://www.wisconsinagconnection.com/story-state.php?Id=1193&yr=2008

– Cranberry crop looks bountiful
http://www.jsonline.com/story/index.aspx?id=801796

TRANSPORTATION (back to top)
– Governor approves money for Wittman Regional Airport project
http://www.thenorthwestern.com/apps/pbcs.dll/article?AID=/20081002/OSH0101/810020509/1128&located=RSS

RETAIL (back to top)
– Kohl’s opens stores in South Florida, Montana
http://www.bizjournals.com/milwaukee/stories/2008/09/29/daily33.html

TOURISM (back to top)
– Bucks, Bradley Center negotiating new lease
http://www.jsonline.com/story/index.aspx?id=801760

FINANCIAL SERVICES (back to top)
– Madison credit union CUNA Mutual Group providing funds for new student loan program
http://www.madison.com/wsj/home/biz/307484

– Waunakee branch to close as part of merger
http://www.madison.com/wsj/home/biz/307415

MANAGEMENT (back to top)
– Press-Gazette promotes Madison bureau chief
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20081002/GPG03/810020627/1247

– Jaeger brings his energy to Bayshore
http://www.bizjournals.com/milwaukee/stories/2008/09/29/story10.html?b=1222660800^1706828

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.