(WisBusiness) TUES News Summary — 15 April 2008

From WisBusiness.com …

— The impending loss of Famous Footwear’s headquarters and its 270 corporate jobs is unwelcome, but Madison officials shouldn’t lose too much sleep over it.

That was the somewhat surprising assessment of Mark Bugher, board chairman of the Greater Madison Chamber of Commerce. He delivered his assessment at a Monday luncheon sponsored by WisBusiness.com, Madison Magazine and the Madison Club.

“We understand that there will be disappointments along the way and that the overall economy in Madison will lose a Famous Footwear once in a while, but you’ll also pick up companies that you don’t expect,” said Bugher, director of Madison’s burgeoning University Research Park and a cabinet member under former Gov. Tommy Thompson.

See the full story: http://www.wisbusiness.

— Madison-based Sub-Zero Freezers & Wolf Appliances intends to furlough 235 full-time employees at two of its Wisconsin locations later this month because of lagging sales.

In a statement, Charles J. Verri, vice president of human resources, said that the layoffs will occur during the week of April 21 and will affect workers at the company’s Madison and Fitchburg facilities as well as those in Phoenix. About 200 local jobs are being cut, he said.

See story: http://www.channel3000.com/money/15878028/detail.html?treets=c3k&tid=2651032357813&tml=c3k_4pm&tmi=c3k_4pm_1_04000204142008&ts=H

— Delta Air Lines Inc. and Northwest Airlines Corp., squeezed by record high fuel prices and a slowing economy, are combining in a stock-swap deal that would create the world’s biggest carrier.

The boards of both companies gave the deal the go-ahead Monday.

Delta said the combined airline, which will be called Delta, will have an enterprise value of $17.7 billion. It will be based in Atlanta, and Delta CEO Richard Anderson will head the combined company.

Delta said the combined airline will have an enterprise value of $17.7 billion. It will be based in Atlanta, and Delta CEO Richard Anderson will head the combined company.

Northwest acquired a minority share in Midwest Air Group Inc., the Oak Creek-based parent company of Midwest Airlines, in January.

See story: http://www.channel3000.com/money/15873023/detail.html

— Business executives are invited to attend any of more than 30 free seminars designed to help them become better leaders and grow their companies at the BizTech Expo.

The fourth annual BizTech Expo, presented by Small Business Times, will take place Wednesday, April 30, and Thursday, May 1. More than 200 businesses and organizations will operate exhibit booths at the Expo.

See story: http://www.biztimes.com/daily/2008/4/14/#expo-will-include-free-business-seminars-for-company-leaders



WisPolitics.com and WisBusiness.com have four events scheduled for April and May at the Madison Club

— April 22: Dale Van Atta, author of the new biography “With Honor; Melvin Laird in War, Peace, and Politics.” (See an excerpt from the book: http://www.wispolitics.com/index.iml?Article=122814)

— May 5: Branding expert Marsha Lindsay

— May 6: Wis. Elections expert Robert Booth Fowler

See details on all the events:





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Press Releases
Alliant Energy Corporation Declares Common Stock Dividends
Madison Media Institute Students to Produce ‘Show on Screen’ at the CCA Convention in Las Vegas
MGIC Investment Corporation Schedules 1st Quarter 2008 Earnings Call
Wisconsin Power and Light Receives Public Service Commission of Wisconsin Approval to Purchase Neenah Generating Facility

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


Manitowoc Company agrees to $2.1 billion deal: The Manitowoc Company Inc. has agreed to purchase British food service equipment supplier Enodis PLC for $2.1 billion, the companies said Monday. The deal will give The Manitowoc Company, the largest ice machine maker in the United States, entry into two major new market segments — hot food service and food retail equipment. “The combination of Manitowoc and Enodis’ businesses will create one of the leading food service businesses globally,” said Terry Growcock, The Manitowoc Company chairman, in a statement. “We have long recognized the value that a combination of the food service businesses of Enodis and Manitowoc would create,” said Glen E. Tellock, The Manitowoc Company president and chief executive officer.

Sub-Zero to lay off 235 employees at Fitchburg and Phoenix plants: Sub-Zero/Wolf of Fitchburg, a manufacturer of high-end refrigeration and cooking appliances, will lay off 235 employees at its plants in Fitchburg and Phoenix, Ariz. Most of the layoffs will be at Sub-Zero in Fitchburg with a few at Wolf and some in Arizona, said Chuck Verri, the company’s vice president of human resources. “It’s no secret what’s going on in the economy and what’s happening with consumer confidence,” he said. “We’re building inventories too rapidly and we’ve got to do something to react.” Verri said employees were notified Monday and will lose their jobs on or after June 13. He said the slowdown in construction of high-end homes and condominiums is a major factor in the layoffs.

Red Barn to market ‘humanely produced’ milk: Label could be misleading, some say… A new line of milk produced in the Fox Valley and marketed as “humanely produced” is scheduled to go on sale Thursday at three Milwaukee-area stores. Although some consumers are expected to find the label appealing, some in the dairy industry said they are concerned it could be misleading. The milk from Appleton-based Red Barn Family Farms provides another choice for consumers concerned about animal care as well as milk quality, said Terry Homan, a veterinarian and founder of the company. “We truly believe that if the stable, or barn, itself produces a comfortable life and if cows are treated as a mother should be treated, the results will be obvious,” the company states on its Web site.

Study: Trout fishing reels in big bucks for area economy: Trout anglers have a $1.1 billion annual economic impact on the four-state area along the upper Mississippi River, according to a report released Monday in La Crosse. A study of the Driftless Area of Wisconsin, Minnesota, Iowa and Illinois commissioned by Trout Unlimited found more than 125,000 anglers visit the region annually, pumping about $650 million directly into the local economy.
That spending leads to about $465 million in indirect benefits as the money keeps circulating, the report said. U.S. Rep. Ron Kind, D-La Crosse, said trout fishing’s $1.1 billion economic impact “doesn’t come as too big a surprise” to him because of the large number of visitors drawn to the area.

Wisconsin foreclosure rate relatively low: The home foreclosure rate in Wisconsin remains well below other states. Figures released by RealtyTrac of Irvine, California Tuesday show one in 1,222 Wisconsin homes were in the foreclosure process in March, compared to one in every 538 homes nationwide. That puts the state 27th highest in the country. Nevada has the highest foreclosure rate at one in 139 homes. California is next with one in every 204 houses. Vermont has the lowest rate with one in 154,779 homes in March.

Delta, Northwest boards OK merger: Deal creates world’s biggest air carrier… Delta Air Lines Inc. and Northwest Airlines Corp., squeezed by record high fuel prices and a slowing economy, are combining in a stock-swap deal that would create the world’s biggest carrier. The boards of both companies gave the deal the go-ahead Monday. Delta said the combined airline, which will be called Delta, will have an enterprise value of $17.7 billion. It will be based in Atlanta, and Delta Chief Executive Officer Richard Anderson will head the combined company. Tom Miller, manager of Austin Straubel International Airport in Ashwaubenon, said Monday night it is too soon to know how the merger will affect airport services.


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)
– Innovation inspected

– State innovation group will meet Thursday

BIOTECH (back to top)
– Expert: Sustainability requires basic changes

ECONOMY (back to top)
– Consumers confront multiple problems

– Many avoid buying as housing pessimism grows

MANUFACTURING (back to top)
– Crane builder expands reach

– Bigger piece of pie sought

– Tyco Electronics closing Milwaukee plant

LABOR (back to top)
– FVTC gets high marks in job placement

SMALL BUSINESS (back to top)
– Carpentiers open Green Bay Sports

INVESTING (back to top)
– Stocks end quiet session down

REAL ESTATE (back to top)
– Allied Drive plan gets boost from state

– Lexington real estate agents move to Caldwell

– 1 in 7 fear missing mortgage payment

– Denial of housing tax credits dooms proposed Corinne Owens Square

– Plan for former Sinai building gets boost

– HomeSale affiliates with Coldwell Banker

AGRIBUSINESS (back to top)
– Search Continues for Emerald Ash Borer in Wisconsin

– State Crop Weather Report: Fields Remain Saturated

– Soaring Sawdust Price Hits Dairy Producers

TRANSPORTATION (back to top)
– Three alternatives for parkway unveiled

– Airline woes have impact throughout economy

– Transit center secures $7.5M in housing funds

RETAIL (back to top)
– Blockbuster makes offer for Circuit City

– Craft distillery plans move to Walker’s Point

REGULATION (back to top)
– Outdoor enthusiasts vote on wildlife rules

– Sportsmen weigh in on proposed state deer feeding, baiting ban

– Cleanup of PCBs enters 5th year

– Tax deadline arrives as most have already filed

TOURISM (back to top)
– Hundreds turn out for ‘Public Enemies’

– Employers see no ‘Depp drain’ on productivity

– Downtown Cambridge keeps small-town feel while continuing to attract visitors

– Door County’s Beowulf Lodge sold

UTILITIES (back to top)
– With winter past, utilities can now cut off service

– City water passes compliance tests

– Electric rates go up Tuesday – again

HEALTH CARE (back to top)
– Boomers head into health care system that’s inadequate for seniors

– Checking for deadly germ is contested

– Area health-care providers name new hires

– First Business earns state corporate award

– Build up your credit score

MANAGEMENT (back to top)
– Companies defer on energy saving

– New Medical Society president pushes affordability

– Marquette honors best business plans

– Penfield names new president

– Artisan co-founder Carlene Ziegler exits portfolio management

BUSINESS COLUMNS (back to top)
– Gail MarksJarvis: Stock pickers battered by economy’s blows

Media Partners
Small Business Times
Madison Magazine

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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