From WisBusiness.com …
— Gov. Jim Doyle today today is scheduled to open the first of three research towers at the Wisconsin Institutes for Medical Research. The ceremony is set for 1 p.m. at the UW School of Medicine and Public Health in Madison.
— The state’s new fall tourism advertising campaign, the first as part of the branding strategy “Originality Rules,” will start this weekend.
The fall ads, to run through Oct. 31, will highlight what a state press release says is “the passionate, proud and spontaneous nature of Wisconsin’s people and the original ways they embrace fall.”
Adds Doyle: “Our state culture is one that nurtures creativity and originality, and not only makes Wisconsin a great place to visit, but also a great place to do business and raise a family. The fall tourism campaign showcases the original ways Wisconsin’s people celebrate fall, and resonates with so many key audiences — visitors, residents, employees and employers.”
— The Small Business Times in Milwaukee reports progress in Midwest Airlines’ voluntary restructuring plan.
According to the Milwaukee business publication, that will result in $60 million in additional financing and a new plan to outsource some Midwest Connect flights to Republic Airways Holdings.
The bad news is more Midwest pilots will be put out of work.
Timothy Hoeksema, Midwest Airlines chairman and chief executive officer, said $40 million of the additional financing has already been funded, with an additional $20 million committed to be funded upon completion of certain milestones in the airline’s restructuring plan.
The financing will come from TPG Capital, the Fort Worth, Texas-based investment firm that owns the majority of Midwest Airlines. Northwest Airlines Inc. owns a minority stake in Midwest.
Hoeksema said Midwest’s restructuring has focused on a strategy to serve its core business markets, cost reductions necessary to address high jet fuel prices and a soft economy, and revenue enhancement actions.
WISBUSINESS LUNCHEON MONDAY FEATURES A DISCUSSION ON THE CANADIAN CONNECTION
Georges Rioux, Canadian Consul General to Chicago
Monday, September 8, 11:45 am, The Madison Club
WisBusiness.com, The Madison Club and Madison Magazine present “The Madison Business Luncheon” on Monday, September 8, with featured guest Georges Rioux Canadian Consul General to Chicago.
Learn more about the Canadian Consulate General in Chicago: http://geo.international.gc.ca/can-am/chicago/menu-en.asp
This 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.
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· Binary Research: Announces Availability of Ghost Solution Suite 2.5 Training
· Deere & Company: Deere to Close Welland, Ontario, Factory and Transfer Production to Other Facilities
· Focus on Energy: Wisconsin College Students Get Turned on to Energy Efficiency
· Integrys Energy Group: Peoples Gas and North Shore Gas Urge Customers to Apply for LIHEAP Grants
· Johnson Controls: Announces 2008 Fourth-Quarter Restructuring Charge
· Joy Global Inc.: Announces Fiscal 2008 Third Quarter Operating Results
· Kohls: Kohl’s Corporation Reports August Comparable Store Sales
· National City Bank: Employees in Greater Milwaukee to Help Those in Need on Community Appreciation Day
· Office of Governor Doyle: Governor Doyle Launches New Fall Tourism Campaign
· Plexus: Announces Expansion In Hangzhou, China
· Procorp: hosts launch of Senator Feingold’s E4 Initiative
· Robert Half International: Milwaukee CFOs Forecast Increase in Fourth-Quarter Hiring
· Rockwell Automation: Rockwell Automation at Morgan Stanley Conference
· Senator Feingold: Kicks off E4 Initiative with Focus on Small Business Innovation
· Summit Credit Union: Kicks off JDRF Fundraising Campaign
· Target Commercial Interiors: Target Commercial Interiors Purchases Arizona Businesses
· Teamsters: Teamsters and Waste Management to Return to Negotiations
· TrafficCast International, Inc.: Appoints New CEO
· UW Madison: Baby’s Small Tamps Down Dad’s Testosterone Levels
· UW Madison: Student Group Explores the Treasurers of Lakeshore Nature Preserve
· UWSP: Economic outlook conference set in Wausau
· VCPI Names Will Belke Chief Innovation Officer
· Johnson Controls, Inc.: Announces 2008 fourth-quarter restructuring charge
· Ladish Co., Inc.: Announces long-term financing
For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82
Johnson Controls to cut jobs: Johnson Controls Inc., which makes building and automotive systems, said Wednesday it will cut jobs and consolidate manufacturing facilities as part of a plan to restructure its operations. As a result of the actions, which the company expects to largely complete by early 2010, Johnson Controls said it plans to take a pretax charge of $450 million to $500 million in its 2008 fiscal fourth quarter. Johnson Controls did not say how many jobs would be eliminated or which plants would be consolidated.
SBA issues more than $2 million in loans: The U.S. Small Business Administration has approved more than $2 million in post-disaster recovery loans to residents, businesses and non-profit organizations in Winnebago County affected by the June flooding. As of Sept. 1, the SBA has approved $2.04 million in loans for 139 renters or homeowners in the county and $166,400 in loans for six businesses, said Carl Sherrill, communications specialist for the SBA.
Plexus opening second plant in China: Plexus Corp., a Neenah contract electronics manufacturer, said it has agreed to lease 106,000 square feet in the Shanghai area, where it will open its second plant in China and third in Asia. The new plant will be in the Binjiang Hi-Tech Park in Hangzhou. Plexus (NASDAQ: PLXS) has a plant in Xiamen, China, and one in Penang, Malaysia. With the new plant, Plexus will occupy 948,000 square feet of space in Asia.
Midwest Airlines secures $60 million in financing: Midwest Airlines has secured $60 million in financing and reached an agreement with Republic Airways Holdings to operate flights under the Midwest Connect brand as it continues to work to avoid a Chapter 11 bankruptcy filing. The move could also mean additional job cuts at Midwest, which already announced plans to cut 1,200 jobs, or about 40 percent of its work force.
Joy Global shares plummet 20% after earnings report falls short: Joy Global Inc.’s stock plunged nearly 20% in its steepest single-day decline in seven years Wednesday after the latest quarterly earnings from the Milwaukee-based maker of mining machinery fell short of Wall Street’s expectations. The company reported net income of $113.1 million, or $1.03 a share, in the three months ended Aug. 1, up 55% from $72.9 million, or 66 cents, a year ago.
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)
– High-Tech Industry Booming In Western Wisconsin
– Shifting Gears: Appleton inventor reinvents himself
– Guri Sohi: Madison likely to see more tech giants
BIOTECH (back to top)
– Imaging Biometrics LLC Receives Grant from the National Cancer Institute
ECONOMY (back to top)
– Rising beer costs passed on to drinkers
– Many retailers report sluggish August sales
MANUFACTURING (back to top)
– Gordon Aluminum Industries plant fire damage: $5M to $8M
– Smithfield to combat smell by raising stack
– Sparks from welders blamed for fire at Advanced Cast Stone
– Madison exercise equipment maker Bobby Hinds started with just a jump rope
REAL ESTATE (back to top)
– Marquette to establish Center for Real Estate
– (Plover) Land Intended For Water Ski Complex For Sale
AGRIBUSINESS (back to top)
– Dow AgroSciences Completes Acquisition of Dairyland Seed Co.
RETAIL (back to top)
– Steve & Barry’s to close Marshfield mall location
– Kohl’s same-store sales down in August
– When will Whole Foods finish what it started at Hilldale?
– Caledonia Street antiques store closes
TOURISM (back to top)
– Hats off to Harley’s party!
– Leinenkugels, BoDeans featured in state fall tourism spots
– Dells Summer Tourism Numbers Stay Steady
– Proposal promotes energy efficiency; Innovative rate structures part of WPS, Citizen’s Utility plan
– Two Rivers may erect wind turbine
– Official: Wind turbine impact on med flights marginal
– Plan for Appleton water plant fixes backed
HEALTH CARE (back to top)
– New name sought for health center (Brown County Mental Health Center)
– MAC Dental plans new De Pere office
FINANCIAL SERVICES (back to top)
– Not all banks doing poorly
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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