(WisBusiness) THURS News Summary — 6 Nov. 2008

From WisBusiness.com …

— Only five of 20 Milwaukee metro area business activity indicators registered improvement in September over year-earlier levels, according to a monthly report by the Metropolitan Milwaukee Association of Commerce. September’s improvements matched the number of upward pointing indicators posted for August.

“The jobs recession affecting the local economy has deepened in recent months, with employment declines double their year-to-date trend,” said Bret Mayborne, economic research director for the MMAC. “September’s numbers do not fully reflect the economic impact of the financial crisis that struck in the month’s second half, thus the near-term economic trend is likely to weaken in coming months.”

See more:

http://www.wisbusiness.com/index.iml?Content=82

— MMAC is strongly considering a challenge to the legality of the sick leave ordinance OK’d Election Day by voters.

“As you know, serious questions have been raised by many, including the City’s own Attorney, about the legality of this sick leave mandate ordinance. It is the MMAC’s intention to take a close look at these issues and strongly consider a court challenge to prevent this ordinance from going into effect,” the MMAC said in a statement. “To that end, today we filed …(a) ‘Notice of Claim’ to the City of Milwaukee, informing the city of our intent to pursue these legal questions.”

Milwaukee voters overwhelmingly approved the measure by a 68 percent to 32 percent margin. The measure is a binding referendum requiring employers to provide paid sick leave to their employees.

See more:

http://milwaukee.wispolitics.com/index.iml?mdl=articles.mdl&Issue_ID=3506#art10300

— Milwaukee County supervisors intend to move forward in pressing the state to allow a one-cent sales tax increase, after voters narrowly approved an advisory referendum.

“The people have spoken, and we’ve heard them loud and clear,” said Chris Larson, county supervisor and spokesperson for the Quality of Life Alliance. “Democracy has won the day.”

Should the tax be approved by the state, it is projected to generate $130 million in revenue, over half of which would go to fund transit, parks and recreation, and emergency medical services, which are currently funded through the property tax levy. With the increase, Milwaukee County’s sales tax would be 6.6 percent, the highest in the state.

The referendum passed 51 to 49 percent.

County Executive Scott Walker has fought the proposal, saying it would turn Milwaukee County into a “tax island,” and that it’s not guaranteed to lower property taxes. He vetoed similar proposals three times, but the board overrode his latest veto in September by a 13-to-6 vote, sending the proposal to the ballot.

Read more:

http://milwaukee.wispolitics.com/index.iml?mdl=articles.mdl&Issue_ID=3506#art10301

— Great Wolf Resorts Inc. announced that Kim Schaefer, currently the company’s president and chief operating officer, will become chief executive officer effective Jan. 1. Randy Churchey, who has served as the company’s interim chief executive officer since May 2008, will resign from that position on Jan. 1 and remain as a director on the company’s board.

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Press Releases
· Alliant Energy to Present at the Edison Electric Institute Financial Conference
· Appleton to Release Third Quarter 2008 Financial Results
· FOR FOOD INDUSTRY LEADERS, A MEETING WORTH ITS SALT
· Great Wolf Resorts Announces New CEO
· Great Wolf Resorts Reports Third Quarter 2008 Results

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


TOP STORIES
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MillerCoors cuts 269 jobs: MillerCoors LLC said Wednesday it has cut 269 jobs so far as part of its efforts to save money. The joint venture between SABMiller’s U.S. unit and Molson Coors Brewing Co. said it was on track to cut $500 million in spending over the next three years, and would realize $50 million in savings by the end of June, which is earlier than it had expected.
http://www.greenbaypressgazette.com/article/20081106/GPG03/811060640/1247′

Number of E-85 Pumps in Wisconsin to Grow: The National Governors Association recently announced a partnership between General Motors and Wisconsin to help build additional E-85 ethanol pumps in the state. Wisconsin currently has just over 100 stations that have pumps which provide E-85, a renewable fuel made right here in Wisconsin that contains 85-percent ethanol and 15-percent regular petroleum.
http://www.wisconsinagconnection.com/story-state.php?Id=1341&yr=2008

Spectrum Brands faces stock delisting: Struggling Spectrum Brands on Wednesday announced that it received a notice Tuesday from the New York Stock exchange that its stock is facing delisting. Spectrum, which has its Rayovac and Remington units based in Madison, said the NYSE notice stated that Spectrum was “below criteria” for the NYSE’s continued listing standards because both its average total market capitalization was less than $75 million over a 30 trading-day period and, at the same time, its stockholders’ equity was less than $75 million.
http://www.madison.com/tct/business/313018

We Energies seeks approval of renewable energy plan : We Energies asked state regulators Wednesday to approve a plan, projected to cost up to $69 million, to help it comply with a state mandate to boost the state’s supply of renewable energy by 2015. The Milwaukee-based utility company wants the state ruling to give it flexibility to buy wind turbines and acquire potential wind farm sites well before the Public Service Commission approves a wind power project. Customers would not be billed until after the wind power projects are built.
http://www.jsonline.com/business/33922159.html

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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)
– Phishing scam targets area residents
http://www.greenbaypressgazette.com/article/20081106/GPG03/811060636/1247

– Angel funding will outlast hard times, experts tell Wisconsin tech firms
http://www.jsonline.com/business/33943409.html

ECONOMY (back to top)
– New vehicle sales down here
http://www.madison.com/tct/business/313019

– Wisconsin business cool to Democratic control of state Capitol
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily25.html

MANUFACTURING (back to top)
– Neenah Paper reports decline
http://www.postcrescent.com/article/20081106/APC03/811060584/1028

LABOR (back to top)
– Shifting Gears: Scientist gets more personal
http://www.postcrescent.com/article/20081106/APC03/811060612/1028

– Midwest union grievances go to arbitrators this week
http://www.jsonline.com/business/33899769.html

SMALL BUSINESS (back to top)
– Session scheduled for new business owners
http://www.postcrescent.com/article/20081106/APC03/811060585/1028

– OverDrive Auto Repair relocates to Howard
http://www.greenbaypressgazette.com/article/20081106/GPG03/811060638/1247

REAL ESTATE (back to top)
– Green Bay: Ceremonies to mark relocations to Broadway district
http://www.greenbaypressgazette.com/article/20081106/GPG03/811060634/1247

– Green Bay seeks help with brownfields for redevelopment
http://www.greenbaypressgazette.com/article/20081106/GPG03/811060639/1247

– Veridian Homes held to expiring inclusionary zoning rule
http://www.madison.com/tct/business/312688

AGRIBUSINESS (back to top)
– Plan Would Guide CWD Management Efforts for Next 10 Years
http://www.wisconsinagconnection.com/story-state.php?Id=1342&yr=2008

– New Wisconsin Cheese Chef Ambassadors Add Midwest Flair
http://www.wisconsinagconnection.com/story-state.php?Id=1346&yr=2008

RETAIL (back to top)
– Capitol Square retail revival buoyed by high-end shops
http://77square.com/citylife/features/story_313067

– Saks closing Club Libby Lu retail outlets
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily32.html

REGULATION (back to top)
– MMAC files claim opposing sick leave mandate
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily31.html

TOURISM (back to top)
– Great Wolf reports in Madison report earnings increase
http://www.greenbaypressgazette.com/article/20081106/GPG03/811060637/1247

FINANCIAL SERVICES (back to top)
– Insurance open enrollment offers chance to change plans
http://www.greenbaypressgazette.com/article/20081106/GPG03/811060635/1247

– Share repurchases boosts Citizens Community earnings
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily24.html

– MGE Energy income up on investment gains
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily33.html

MANAGEMENT (back to top)
– Hefty pulled Blue Cross out of the ashes
http://www.bizjournals.com/milwaukee/stories/2008/11/03/story10.html?b=1225688400^1725876

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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