(WisBusiness) THURS News Summary — 20 Nov. 2008

From WisBusiness.com …

— The state lost 5,600 jobs in October compared to the month before and had 9,400 fewer compared to the same month the year before.

The Department of Workforce Development reported the state’s seasonally adjusted unemployment rate for October was 5.1 percent, up 0.1 point from September. It was also 0.3 percentage points higher than October 2007.

Over the year, October 2008 showed a decline of 27,300 Wisconsin non-farm jobs. Goods producers were down 22,100, while service providers were down 5,200 over the year.

See the release:

http://dwd.wisconsin.gov/dwd/newsreleases/2008/unemployment/1008_state_lmi.pdf

— The Public Service Commission has two water rate hearings on the docket today.

The Village of Niagara Municipal Water Utility has a telephone hearing in Niagara and in Madison regarding its request to increase water rates. PSC staff recommended a 6 percent rate of return that would add $140,000 for the Marinette County village.

The City of Fitchburg water rate hike request will have a telephone hearing at Fitchburg City Hall and at PSC headquarters in Madison at 10 a.m. PSC staff recommended a water rate hike of 5.25 percent that would raise more than $230,000 for the Dane County city.

— The Dow Jones was down nearly 100 points in early trading this morning after closing below 8,000 on Wednesday.

Use the WisBusiness stock tracker to check the performance of Wisconsin stocks:

http://www.wisbusiness.com/index.iml?Article=137598

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Press Releases
· AG Van Hollen: Home improvement company and owner charged with theft by contractor and home improvement fraud
· Dept. of Workforce Development: Unemployed workers encouraged to file for benefits online
· Kira Sabin: Kira Sabin and Forté Madison announce dating makeover
· MillerCoors: Unveils $1 million in improvements to Milwaukee visitor center and historic caves
· TomoTherapy: Responds to Avalon Capital’s letter to board of directors
· UW-Madison: Students rewarded for entrepreneurial instincts
· Wisconsin Bankers Association: Responsible consumer spending ensures happy holidays & new year
· Wisconsin Institute for Leadership: WIL calls for economic stimulus package

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


TOP STORIES
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Housing slump cuts deeper at Kohler: The employee cutbacks continued Tuesday at Kohler Co., as Sheboygan County’s largest employer announced its third round of layoffs in slightly more than a month. Spokesman Todd Weber said the company cut 73 administrative positions at its corporate headquarters in Kohler, a move affecting kitchen and bath and corporate operations. He said the layoffs come as Kohler Co. is “still dealing with the prolonged housing slump and severely weakened economy that has resulted in lower levels of sales.” More than 200 employees have now been let go since mid-October.
http://www.postcrescent.com/article/20081120/APC03/811200519/1028

Miller Electric cuts 95 jobs: Miller Electric Manufacturing Co. plans to cut 95 jobs as a result of the economic downturn and slowing demand for its products. The announcement Wednesday is a drastic turn for the company, which employs about 1,500 people throughout its Fox Cities operations and has expanded and hired as many as 250 people during the last 18 to 24 months.
http://www.postcrescent.com/article/20081120/APC03/811200520/1028

General Dynamics to buy AxleTech: Aerospace and defense giant General Dynamics Corp. has agreed to purchase AxleTech International, but does not plan to reduce its work force or close plants, including a plant in Oshkosh that employs 250 workers.
http://www.thenorthwestern.com/article/20081120/OSH03/811200464/1167

NewPage continues recruiting effort for 25 engineering positions companywide, despite closures, loss of 200 Wisconsin Rapids area jobs: Almost a year after purchasing Wisconsin Rapids-based Stora Enso North America and announcing the collective elimination of more than 600 jobs companywide, NewPage is actively recruiting engineers.
http://www.wisconsinrapidstribune.com/article/20081120/WRT0101/811200552/1806&located=RSS

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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)
– Kohl’s turns advertising focus to online sites
http://www.jsonline.com/business/34788059.html

– Business gets on board with social media sites
http://www.bizjournals.com/milwaukee/stories/2008/11/17/story17.html?b=1226898000^1733747

ECONOMY (back to top)
– October unemployment rate sees only slight increase over 2007
http://www.madison.com/tct/news/stories/315164

– Milwaukee: Metro area expected to see 10-year job growth of 9.7%
http://www.jsonline.com/business/34743059.html

– Wisconsin ranks 20th for competitiveness
http://www.bizjournals.com/milwaukee/stories/2008/11/17/daily28.html

MANUFACTURING (back to top)
– Downtime planned at Appleton Coated
http://www.postcrescent.com/article/20081120/APC03/811200517/1028

– Chilling economic omens
http://www.jsonline.com/business/34788979.html

– Krenz & Co. building Germantown manufacturing plant
http://www.jsonline.com/business/34748614.html

LABOR (back to top)
– Swamped state agency urges unemployed to file online
http://www.postcrescent.com/article/20081120/APC0101/811200515/1004&located=RSS

– Shifting Gears: His future sounds, looks good
http://www.postcrescent.com/article/20081120/APC03/811200506/1028

– Overture Center laying off workers by year’s end
http://77square.com/citylife/features/story_315163

– Mid-West Family Broadcasting confirms layoffs
http://www.madison.com/wsj/home/biz/315112

– Health benefit costs to state employers rose 4%, survey says
http://www.jsonline.com/business/34745924.html

REAL ESTATE (back to top)
– Green Bay’s Main Street project nears end
http://www.greenbaypressgazette.com/article/20081120/GPG0101/811200686/1207&located=RSS

– St. Francis to receive Stritch campus plan
http://www.jsonline.com/business/34788069.html

– Architecture index reflects sharp decline in construction
http://www.jsonline.com/business/34742824.html

RETAIL (back to top)
– No doggie spa – this kennel is for dogs
http://www.madison.com/wsj/home/biz/315147

– Maserati dealership closes
http://www.jsonline.com/business/34743614.html

UTILITIES (back to top)
– Coal to sustain We Energies bills
http://www.jsonline.com/business/34788039.html

FINANCIAL SERVICES (back to top)
– Milwaukee, Madison-area accounting firms merge
http://www.jsonline.com/business/34742704.html

– Madison accounting firm merges with Reilly Penner & Benton
http://www.bizjournals.com/milwaukee/stories/2008/11/17/daily25.html

MANAGEMENT (back to top)
– Pete Coors to become Molson Coors chairman
http://www.bizjournals.com/milwaukee/stories/2008/11/17/daily33.html

BUSINESS COLUMNS (back to top)
– Tannette Johnson-Elie: Mentor-protégé program helps contractors land MMSD projects
http://www.jsonline.com/business/34714864.html

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

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