From WisBusiness.com …
— Gov. Jim Doyle is vowing to refill Lake Delton, which was nearly drained yesterday when it cut through a road, ripped out a new channel to the Wisconsin River and washed away four homes.
Touring the disaster scene on Monday afternoon, Doyle said that the lake is crucial to the $1 billion annual tourism industry in nearby Wisconsin Dells. He said that the state will go to work immediately to figure out how to replenish the lake.
He expects a decision to be made in the next day or so. The lake is known as the home of “The Tommy Barlett Show,” which is one of the most popular attractions in the Wisconsin Dells area.
— Doyle says the flooding situation across the state is “very bad and, we are worried about it getting worse.”
Doyle was in Oak Creek yesterday surveying flood damage wrought by last weekend’s heavy rainfalls. He said in an interview with MSNBC that Milwaukee area homes were besieged by flooding and that small creeks have been turned into “raging big rivers.”
Doyle said he was thankful that there was no loss of life or serious injuries reported, but that there was “an awful lot of damage throughout the whole state.”
“Amazing to watch people pull together,” Doyle said. “People have been out all night sandbagging … neighbors have helped out neighbors. If there’s anything that’s good that comes from these kinds of challenges, it’s just watching people in Wisconsin pull together.”
See video of Lake Delton emptying:
http://www.nbc15.com/home/headlines/19663084.html#
— Madison’s Third Wave Technologies is being sold for $580 million to Massachusetts-based Hologic Inc.
The transaction should be completed this fall. Third Wave, which has about 180 employees, will remain in Madison and retain most of its employees, a Hologic spokesman said. The only layoffs expected may be in overlapping corporate areas.
The sale price of $11.25 per share represents a 24 percent premium to Third Wave’s average trading price over the last three months, officials said.
Hologic makes women’s health care products. Third Wave is developing tests to screen for human papillomavirus and recently submitted applications to the Food and Drug Administration.
See the Hologic release:
http://www.wisbusiness.com/index.iml?Article=128230
— A bipartisan group of Congressmen, including U.S. Rep. Ron Kind (D-La Crosse), will join a broad coalition of interests today to unveil “breakthrough legislation” designed to make health care insurance more available and affordable for the 47.1 million employees of the nation’s 5.8 million small businesses and for 14.1 million self-employed individuals.
Kind said the Small Business Health Options Program (SHOP Act) would lower health care costs for small businesses by allowing them to band together to obtain lower premiums, provide tax credits for small business owners to offset contributions to employee premiums and ban health status rating in order to protect businesses from large rate increases simply because one employee gets sick.
See story: http://www.biztimes.com/daily/2008/6/9/#congressmen-to-unveil-breakthrough-health-care-legislation
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Press Releases
Alliant Energy advises caution around flooded homes & businesses
Community Members Demand DNR Upholds Law and Protects Lake Michigan
EPA Reaches Agreement With Mercury Marine on Clean-Air Violations
Hologic to Acquire Third Wave Technologies
Milwaukee’s General Mitchell International Airport Contracts for PASSUR Field Condition Reporting Module for Operations
Project Summer Targets Employment Opportunities for Youth with Disabilities
The Chronicle of Higher Education and Sonic Foundry Partner to Webcast Executive Leadership Forum
Zizzo Group Promotes Scholler to Associate Creative Director
For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82
TOP STORIES
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More bad news for Janesville GM plant: At least 300 employees likely will lose their jobs at the General Motors plant in Janesville this summer, a grim Brad Dutcher, incoming local union president, said Monday after another blow hit employees at the plant, targeted for closing by 2010. May sales of sport utility vehicles “continued to deteriorate,” GM spokesman Chris Lee said. So, when the Janesville factory downsizes from two daily shifts to one in July, instead of expanding the remaining shift to 58 vehicles an hour, as earlier planned, it will hold production to the current 44 vehicles an hour. “It’s certainly a lower cost alternative since we don’t have to rebalance the assembly line,” Lee said. GM won’t estimate the latest job loss, even though union officials are out with their projection.
http://www.madison.com/wsj/home/biz/290512
Madison biotech Third Wave to be bought for $580 million: Third Wave Technologies is expected to stay in Madison even though a Massachusetts medical diagnostics company plans to buy the company, experts say. Hologic, a Bedford, Mass., company with sales last year of $738 million and more than 3,500 employees, said Monday it will buy Third Wave for $580 million cash, or $11.25 a share. Third Wave will become a Hologic subsidiary. “The combination of Hologic and Third Wave brings together two great companies that employ complementary technologies but share a common mission: to help save the lives of women,” said Jack Cumming, chairman and chief executive of Hologic, in a written statement. Hologic, founded in 1985, makes products such as mammography and breast biopsy systems, and ultrasound bone density screening machines.
http://www.madison.com/wsj/home/biz/290488
Possible 300 jobs in Point AIG: Almost 300 new workers could join the AIG-Travel Guard’s 750 current employees when its new headquarters opens next year. John Noel, the CEO of AIG, said the company is in the final stages of adding three large pieces of business and could bring on the new work force in six months. “This wasn’t in our dreams 24 years ago,” Noel said. “This is beyond any dream (my wife) Patty and I could have had.” The company broke ground last week on its new facility in the Portage County Business Park. The job growth is an anomaly in the current state and national economy. This month, General Motors announced it is closing a plant in Janesville and NewPage announced it will cut 200 jobs next year.
http://www.wausaudailyherald.com/apps/pbcs.dll/article?AID=/20080610/WDH0101/806100575/1981/WDHnews
Lake vanishes as residents watch; environment, economy imperiled: Lake Delton, a 267-acre water playland for thousands of tourists each summer, drained Monday after a portion of the sandy lakeshore was breached following heavy rains and took four houses with it. “The lake is gone,” said Greg Matthews, a spokesman for the state Department of Natural Resources’ South Central region. No injuries were reported. The dam itself held, but a section of shoreline did not, washing out Highway A and creating a 400- to 500-foot wide outlet to the Wisconsin River, 700 feet away. A swirling chocolate malt of angry liquid escaped through the gap, spreading into the marsh and carrying houses, trees and an upside-down pontoon boat with it.
http://www.madison.com/wsj/topstories/290293
Storms take toll on state’s rivers, farmers: Several parks, trails have been closed… The weekend deluge is beginning to run itself out on many rivers in southeastern Wisconsin. But conditions on many rivers still remain above flood stage. And the heavy rainfall also is exacting an early toll on the state’s farmers as produce crops lie in water-choked fields and traditional crops such as corn are struggling to take root. On the recreation front, several state parks and three popular state trails have been closed. In Sheboygan County, the state Department of Natural Resources closed Kohler-Andrae State Park through today because of storm damage and flooding on the Black River. Wildcat Mountain State Park in Vernon County was also evacuated and closed. Rocky Arbor State Park also is closed.
http://www.jsonline.com/story/index.aspx?id=760196
MillerCoors names more execs, prepares to open next month: MillerCoors is naming new executives as it prepares to begin business next month. Federal regulators approved the merger of the nation’s second and third-largest brewers, Miller Brewing Co. and Molson Coors Brewing Co., last week. The companies said blending their U.S. operations will help them compete against U.S. industry leader Anheuser-Busch Cos. The company is pulling from executives at Milwaukee-based Miller and Denver-based Coors. Incoming Chief Executive Leo Kiely said MillerCoors will be stronger than either company could be on its own. Kiely said the new company will be in place July 1. He said executives will decide which jobs are best kept in Milwaukee, Golden, Colo., or other locations. He didn’t say where the new headquarters would be.
http://www.lacrossetribune.com/articles/2008/06/10/wi/10wis.txt
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– TOM BURZINSKI: IT executive and consultant
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TECHNOLOGY (back to top)
– Scientists develop world’s fastest computer
http://www.wausaudailyherald.com/apps/pbcs.dll/article?AID=/20080610/WDH03/806100371/1618
BIOTECH (back to top)
– Evansville Biodiesel Plant Project Officially Scrapped
http://www.wisconsinagconnection.com/story-state.php?Id=705&yr=2008
– Cutting Edge Dairy Technologies to be Featured at FTD
http://www.wisconsinagconnection.com/story-state.php?Id=709&yr=2008
ECONOMY (back to top)
– Kikkoman to establish R&D center at UW-Madison
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/09/daily1.html?surround=lfn
MANUFACTURING (back to top)
– National Geographic to feature Pierce Manufacturing
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080609/APC03/80609120/1028
– GM to slow down line speed
http://www.gazettextra.com/weblogs/latest-news/2008/jun/09/gm-slow-down-line-spped/
LABOR (back to top)
– Employers hold off on hiring
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080610/APC03/806100480/1028
– Long, hot summer likely for job seekers
http://www.jsonline.com/story/index.aspx?id=760129
– Interns a win-win on the job
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080610/APC03/806100468/1028
– Some area employers plan to hire
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080610/GPG03/806100536/1247
– Union sticks to basics to keep edge
http://www.dailyreporter.com/item.cfm?recid=20048781&snippet=t&forward=%2Fitem%2Ecfm%3Frecid%3D20048781%26snippet%3Df
SMALL BUSINESS (back to top)
– Platteville company wins business plan contest
http://www.jsonline.com/story/index.aspx?id=760185
– Seroogy’s tradition offers recipe for sweet success
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080610/GPG03/806100520/1247
INVESTING (back to top)
– Stocks finish widely mixed after Friday’s sell-off
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080609/APC03/80609046/1028
– Plexus Corp. investor day planned in Illinois
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080610/APC03/806100471/1028
REAL ESTATE (back to top)
– Ice & Expo Center investors seek local support
http://www.wausaudailyherald.com/apps/pbcs.dll/article?AID=/20080610/WDH0101/806100618/1981/WDHnews
– Construction starts on aquatic center
http://www.jsonline.com/story/index.aspx?id=760163
AGRIBUSINESS (back to top)
– Grain facility retracts request for permit in Texas
http://www.wausaudailyherald.com/apps/pbcs.dll/article?AID=/20080610/WDH0101/806100621/1981/WDHnews
– Weekend downpour causes crop damage
http://www.lacrossetribune.com/articles/2008/06/10/news/z05cropdamage10.txt
– Ag secretary renews effort to preserve farmland
http://www.lacrossetribune.com/articles/2008/06/10/wi/08wis.txt
– Wisconsin FFA Convention Kicks-Off in Madison
http://www.wisconsinagconnection.com/story-state.php?Id=704&yr=2008
– Crop Report: Dryer, Warmers Weather is Now Needed
http://www.wisconsinagconnection.com/story-state.php?Id=707&yr=2008
TRANSPORTATION (back to top)
– City votes to end wrap-around ads on buses
http://www.madison.com/wsj/home/local/290624
– Ferry transports more than 1,000 on first day of service
http://www.lacrossetribune.com/articles/2008/06/10/news/z07aaferry10.txt
RETAIL (back to top)
– Businesses pull tomatoes after salmonella scare
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080610/GPG0101/806100550/1978/GPGnews
– Remaining stores hurt by mall project, lawsuit says
http://www.jsonline.com/story/index.aspx?id=760160
REGULATION (back to top)
– Smoking ban on the table in Middleton
http://www.madison.com/tct/news/290457
– Judge seeks end to suit over land royalties
http://www.wausaudailyherald.com/apps/pbcs.dll/article?AID=/20080609/WDH03/806090380/1618
– WBIA Applauds Doyle For Supporting Renewable Fuels Standard
http://www.wisconsinagconnection.com/story-state.php?Id=706&yr=2008
– Congressman asks DOJ to halt Northwest-Delta merger
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/09/daily6.html?surround=lfn
– Mercury Marine agrees to settlement with EPA
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/09/daily3.html?surround=lfn
TOURISM (back to top)
– Dells resort guests cancel; shows and tours limited
http://www.madison.com/wsj/topstories/290589
– Overture crowds smaller than expected
http://www.madison.com/wsj/home/local/290596
– Capturing the Harley spirit
http://www.jsonline.com/story/index.aspx?id=760184
UTILITIES (back to top)
– Aldermen to review ‘brutal facts’ on fix for water plant
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080610/APC0101/806100473/1979/APCnews
– Appleton’s water plant could need $17 million in repairs
http://www.lacrossetribune.com/articles/2008/06/10/wi/11wis.txt
– Results show city had about 7.8 million gallons of sewer system overflow
http://www.journaltimes.com/articles/2008/06/10/local_news/doc484e6abd8778b000102286.txt
– Colby considers energy efficient schools
http://www.wausaudailyherald.com/apps/pbcs.dll/article?AID=/20080610/WDH0101/806100576/1981/WDHnews
HEALTH CARE (back to top)
– Death prompts care analysis
http://www.wausaudailyherald.com/apps/pbcs.dll/article?AID=/20080610/WDH0101/806100616/1981/WDHnews
FINANCIAL SERVICES (back to top)
– National City invests $4.8M in Brewery project
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/09/daily4.html?surround=lfn
MANAGEMENT (back to top)
– MillerCoors fills out roster
http://www.jsonline.com/story/index.aspx?id=760131
– Author challenges corporate thinking
http://www.wausaudailyherald.com/apps/pbcs.dll/article?AID=/20080610/WDH0101/806100639/1981/WDHnews
– Menasha Corp. CEO earns industry honor
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080610/APC03/806100470/1028
– Midwest names Malloy as Skyway president
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/09/daily7.html?surround=lfn
– Russ Britt: Businessman helped save Milwaukee Ballet
http://www.jsonline.com/story/index.aspx?id=760158
BUSINESS COLUMNS (back to top)
– Adam Dalke: Savings a key to financial stability
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080610/GPG03/806100528/1247
– Larry Avila: A diverse economic base is a good for Wisconsin
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080610/APC0701/806100466/1436/APC03
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