From WisBusiness.com …
— Unemployment rates decreased in five of the state’s 12 Metropolitan Statistical Areas in August compared to July. When compared to August 2007, rates were lower in two MSAs, higher in eight and unchanged in two. The Madison MSA had the lowest rate in August at 3.6. The Janesville MSA recorded the highest rate at 6.7 percent.
Unemployment rates decreased in 35 of Wisconsin’s 72 counties during the month of August, increased in 19 and remained the same in 18. Of the counties that saw increases, only Menominee County, which climbed 1.5 percentage points, had an increase of more than one percentage point. Marquette County recorded the greatest decrease in rate over the month, down 1.7 percentage points.
— Waukesha’s Spancrete Group provided notice to DWD detailing the temporary layoff of 25 percent of their workforce at their plants in Valders and Waukesha.
Layoffs at Valders are to take place before Nov. 14, affecting 126 workers. Waukesha layoffs are expected to occur before Dec. 12, with 105 affected. The company does not expect the layoffs to exceed six months.
— Hundreds of free classes and events that help consumers learn to manage their personal finances will be offered October 12-18 throughout the state during Wisconsin’s third-annual Money Smart Week.
The week is coordinated by the Federal Reserve Bank of Chicago, the Wisconsin Department of Financial Institutions, and the Governor’s Council on Financial Literacy. It is designed to educate consumers about money management and generate awareness of financial education available on a wide range of topics such as saving, investing and using credit wisely.
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Compromise close on $700 billion bailout as Bush plans White House summit seeking quick deal: President Bush is bringing presidential candidates Barack Obama and John McCain into negotiations on a $700 billion rescue of Wall Street as Democrats and Republicans near agreement on a bailout plan with more protections for taxpayers and new help for distressed homeowners. Senior lawmakers and Bush administration officials have cleared away key obstacles to a deal on the unprecedented rescue, agreeing to include widely supported limits on pay packages for executives whose companies benefit.
Joy Global acquisition expands market share in China: Joy Global Inc.’s acquisition of a Chinese mining machinery maker is expected to give the company an important foothold in the domestic market in China. Milwaukee-based Joy Global’s subsidiary, China Mining Machinery, is acquiring the outstanding shares of Wuxi Shengda, which employs about 450 people at its plant in Wuxi, China.
Legislators want study on cost of BadgerCare : Two Republican lawmakers Wednesday demanded inquiries into why an expansion of a state health program that wasn’t supposed to affect taxpayers could end up costing the state a projected $16 million this year. Assembly Speaker Mike Huebsch, R-West Salem, wrote to state health department officials asking for answers and Sen. Rob Cowles, R-Green Bay, separately called for a legislative audit into the new BadgerCare Plus initiative.
Lawmakers make pitch to reopen Kimberly mill: Representatives from Wisconsin’s Congressional delegation on Wednesday made another pitch to executives of Ohio-based NewPage to reconsider its decision to close its mill in Kimberly. U.S. Sens. Herb Kohl and Russ Feingold and U.S. Reps. Tom Petri, R-Fond du Lac, and Steve Kagen, D-Appleton, met in Washington with NewPage Corp. CEO Mark Suwyn to discuss the future of the Kimberly mill, which closed Sept. 8. Lawmakers urged Suwyn to reopen the mill or pursue the possibility of selling it.
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ECONOMY (back to top)
– Those near retirement are waiting out the financial crisis
– Unemployment on rise in metro Milwaukee
MANUFACTURING (back to top)
– Oak Creek plant escapes axe in PPG restructuring
– Amherst brewery business booming
– Manufacturing survey can be taken online
– Manufacturer of Year nominations open
– Miller Lite to be sold in aluminum bottles
LABOR (back to top)
– Union, paper firm renegotiate
– Shifting Gears: Decorator adds color to career; Layoff creates opportunity for retraining
SMALL BUSINESS (back to top)
– Puerto Rican flavor served up at Gali’s
REAL ESTATE (back to top)
– More riverfront condominiums in works for Appleton
– Cottage Grove residents grapple with growth-related issues
– Eble Ice Arena land to continue as park
AGRIBUSINESS (back to top)
– Feingold & Kohl Call on USDA to Clear Up 10-Acre Rule
TRANSPORTATION (back to top)
– Air travel hassles prompt execs to fly on their own
UTILITIES (back to top)
– Appleton: Council mulls more water plant fixes
HEALTH CARE (back to top)
– Can massage make mammograms easier?; Wausau study will examine whether process improves results
– UW Hospitals on ‘best of’ list for working parents
– Problems reported at 4 Wisconsin nursing homes
FINANCIAL SERVICES (back to top)
– Loans scarcer as crisis deepens
– Survey finds slower rise in cost of health benefits
– Chevy Chase Bank scores victory in predatory mortgage lending case
MANAGEMENT (back to top)
– Scheevel to Chair Foremost Farms USA
– Great Wolf’s COO named president, too
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