From WisBusiness.com …
— A state that has experienced historic floods and the announcement of a major plant closing within the past two weeks could use some good news. The Wisconsin Technology Council’s Tom Still says perhaps it’s found in the steady growth of Wisconsin’s biotechnology industry.
When the Wisconsin delegation shows up on the floor of the San Diego Convention Center for this week’s BIO international convention, it will have fresh success stories to swap with the 20,000 or so attendees.
Read Still’s take on the stories Wisconsin has to promote:
http://blogs.wisbusiness.com/bio/2008/06/wisconsin-will-attend-bio-with-success.html
— The Wisconsin “BioTheater” returns to the conference this year with a line up of 16 presenters representing some of Wisconsin’s top biotech companies and organizations.
Company presentations will take place over the course of two days, with a pavilion appearance by Gov. Jim Doyle and special guest Steven Burrill.
See the presentation schedule:
http://blogs.wisbusiness.com/bio/2008/06/wisconsin-biotheater-returns-for-second.html
— Go to the WisBusiness BIO Blog for updates from the convention, set to run from today through Friday: http://blogs.wisbusiness.com/bio/
See more on the BIO convention:
http://www.bio2008.org/
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- Madison Gas & Electric
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Press Releases
Allen Edmonds Tent Sale to Benefit Area Flood Victims
ARI Announces Third Quarter Results
As Airline Baggage Fees and Travel Hassles Mount, Consumers Look to Alternatives for Transporting Luggage
BloodCenter of Wisconsin, BioTrove Partner for Accelerated Blood Genotyping
Food Banks Respond to Catastrophic Midwest Flooding
GemEx Systems Garners Innovation Award
Insurance company ordered to pay record penalty
Lemonweir Valley Telephone Company General Manager Named WSTA President
Magnetek to Present at Capstone Investments Second Annual Small-Cap Investor Conference
Mortgage Guaranty Insurance Corporation Enters Into Reinsurance Agreement
Restoring Confidence in Mortgage Industry, New Area Agency Protects Homebuyers and Homeowners
Roadrunner Transportation Services Capitalizes on Growth
Storm and flood victims may qualify for tax relief
USDA’s Organic Factory Farming Scandal Continues to Unravel
For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82
TOP STORIES
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Annuity sales lead to penalty, restitution: Penn Life agrees to pay state $925,000 under settlement… Pennsylvania Life Insurance Co. has agreed to pay a record penalty of $925,000 to the state and to offer restitution to up to 2,200 people in Wisconsin to settle allegations of inappropriate sales of annuities. The Wisconsin Office of the Commissioner of Insurance announced the agreement with Penn Life, a subsidiary of Universal American Financial Corp., late Monday afternoon. The settlement affects as many as 2,200 people, most of them seniors, who were sold more than $55 million in annuity products since 2000, according to the insurance commissioner’s office.
http://www.jsonline.com/story/index.aspx?id=762709
SNE to lay off more than 300 workers: Window and door manufacturer SNE Enterprises has told state officials that it will lay off more than 300 employees at its plant in Mosinee because of the deterioration in the housing industry. The filing of a Worker Adjustment and Retraining Notification (WARN) notice with the Wisconsin Department of Workforce Development comes just weeks after it notified that state of plans to lay off 185 employees in Mosinee. SNE Enterprises said it is laying off 305 production employees and terminating 10 nonproduction employees because of “continuing deterioration of business conditions in the housing industry,” according to the notice.
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/16/daily3.html?surround=lfn
Corn drowns just as global demand soars: Flooding sinks farmers’ efforts to fill food, fuel needs… The devastating Midwest floods are creating waves of economic pain with crops ruined, corn prices pushed to record levels and a damper put on expansion of the ethanol industry. Instead of cashing in on the harvest this fall, many farmers will be turning to crop insurance and federal assistance to cover their losses as thousands of acres of prime Wisconsin farmland resemble small lakes. Meanwhile, development of ethanol refineries – seen by some people as an economic development panacea in rural communities – has been suspended at a dozen plants around the country, a trade group said Monday. High corn prices, and now questionable supplies, have made the ethanol business less attractive.
http://www.jsonline.com/story/index.aspx?id=762739
MGIC secures $50B reinsurance pact: Private mortgage insurer MGIC Investment Corp. of Milwaukee said Monday that it has entered into a reinsurance agreement with an HCC Insurance Holdings Inc. affiliate that will provide backing for up to $50 billion in qualifying new insurance written by the end of 2010. The agreement covers new insurance written between April 1, 2008 and Dec. 31, 2010, and is subject to two, one-year extensions that may be exercised by Houston-based HCC (NYSE: HCC). MGIC management believes that substantially all of the insurance that the company currently is writing qualifies under the reinsurance agreement.
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/16/daily6.html?surround=lfn
Striking Kewaunee Fabrications union to vote on new offer: Kewaunee Fabrications union employees, in week six of a strike, will vote on a new offer from the company at 10 a.m. Wednesday at Holy Rosary Church. Union officials and company spokespeople did not release details of the new offer. “We just got the proposal and will vote on it Wednesday,” Boilermakers Local 487 President Russ Castro said Monday. “There is improvement in the language and they shuffled the money around.” Employees say the strike is over fair wages and affordable insurance. Castro said an increase in insurance premiums ate up most of the company’s proposed increase. The company has been operating with temporary workers since May 19, the second week of the strike.
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080617/GPG03/806170590/1247
Anchor’s 4th-quarter earnings drop sharply on higher loan-loss provision: Madison-based Anchor BanCorp Wisconsin Inc., reported Monday that its fiscal fourth-quarter earnings fell sharply after it set aside more capital to cover potentially bad loans. Net income in the quarter ended March 31 fell to $5.6 million, or 27 cents per share, from $8.2 million, or 38 cents per share, last year. Analysts expected profit of 31 cents per share, according to Thomson Financial. The bank boosted its provision for bad loans to $10.4 million from $4.1 million last year. “We are facing an increase in the number of non-performing loans in our portfolio, making it prudent for us to add funds to our reserve for possible loan losses,” Chairman Douglas Timmerman said in a statement.
http://www.madison.com/tct/business/291828
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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)
– AT&T to offer new TV service in Valley
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080617/APC0101/806170491/1979/APCnews
BIOTECH (back to top)
– Stem cell research gets a $1M boost
http://www.thestar.com/News/Ontario/article/444349
ECONOMY (back to top)
– Miller parent reports gains
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080617/APC03/806170477/1028
– Patch Products puzzles hit the 100-million mark
http://www.gazettextra.com/news/2008/jun/16/patch-products-puzzles-hit-100-million-mark/
– Sluggish economy spurs more residents to seek help from social service agencies
http://kenoshanews.com/article_comments/view_comments.php?articleNum=3097358
– U.S.-Canada trade gap widens
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/16/daily13.html?surround=lfn
MANUFACTURING (back to top)
– Fire damages Pierce Manufacturing office
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080617/APC0101/806170495/1979/APCnews
– ARI reports a 3Q profit
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/16/daily5.html?surround=lfn
LABOR (back to top)
– Cleanup companies work overtime after the rains
http://www.madison.com/tct/news/stories/291786
– Workplace safety comes to fore
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080617/APC03/806170471/1028
SMALL BUSINESS (back to top)
– Street project could move up to appease EPIC
http://www.gmtoday.com/news/local_stories/2008/June_08/06162008_08.asp
– Unsold restaurant’s liquor license won’t be renewed
http://www.jsonline.com/story/index.aspx?id=762713
INVESTING (back to top)
– Stocks trade mostly higher as oil retreats
http://www.wausaudailyherald.com/apps/pbcs.dll/article?AID=/20080617/WDH03/806170399/1618
REAL ESTATE (back to top)
– Plan Commission approves hotel at Monroe and Regent
http://www.madison.com/wsj/home/local/291838
– Ambitious library plan gets a few critics 53 min
http://www.madison.com/tct/news/stories/291884
– Landowners challenge Lawrence Drive assessment plans
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080617/GPG0101/806170567/1978/GPGnews
– HUD announces foreclosure relief
http://www.lacrossetribune.com/articles/2008/06/17/news/04hud17.txt
AGRIBUSINESS (back to top)
– Farmers seeing a soggy outlook
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080617/GPG0101/806170572/1978/GPGnews
– Storms take toll on area crops
http://www.lacrossetribune.com/articles/2008/06/17/news/01crops17.txt
– Crop Report Takes Closer Look at the Impact Last Week’s Flood
http://www.wisconsinagconnection.com/story-state.php?Id=735&yr=2008
– Diverting Stream Channel to Lake Delton Dam to Reduce Hazards
http://www.wisconsinagconnection.com/story-state.php?Id=736&yr=2008
TRANSPORTATION (back to top)
– Boost service, cut fares to save county transit system, consultant says
http://www.jsonline.com/story/index.aspx?id=762717
– Parts of interstate reopen
http://www.madison.com/tct/news/stories/291624
– Dangerous currents close locks in Appleton
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080617/APC0101/806170482/1979/APCnews
– Fuel cost siphons Allegiant Air’s ‘dynamic’
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080617/GPG03/806170582/1247
– Study looks at improving options for commuters
http://www.gazettextra.com/news/2008/jun/15/study-looks-improving-options-commuters/
– State to build crossover on I-94
http://www.jsonline.com/watch/?watch=1&date=6/17/2008&id=41676
RETAIL (back to top)
– Maxwell Street Days July 18-20
http://www.madison.com/tct/news/stories/291749
– Johnsonville Sausage opens brat stores in China to spur sales
http://www.madison.com/tct/business/291743
– Flooding dries up business for some
http://www.jsonline.com/story/index.aspx?id=762692
– Packers expand Lambeau team store
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/16/daily1.html?surround=lfn
REGULATION (back to top)
– Regulators back faster, less-costly PCB cleanup for Little Lake
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080617/APC0101/806170476/1979/APCnews
– Madison eyes first billboard condemnation
http://www.madison.com/wsj/home/local/291800
– Final plans OK’d for $9.2 million Allied Drive revamp
http://www.madison.com/tct/news/stories/291844
– State DNR enforces water quality protection for animals
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080616/APC03/306160052/1028
– Ruby Farms project takes twist
http://www.jsonline.com/story/index.aspx?id=762679
TOURISM (back to top)
– Sparta council to revisit Fort McCoy hotel proposal
http://www.lacrossetribune.com/articles/2008/06/17/news/z01spartahotel17.txt
UTILITIES (back to top)
– Alliant opts for cleaner coal plant
http://www.dailyreporter.com/item.cfm?recid=20048834&snippet=t&forward=%2Fitem%2Ecfm%3Frecid%3D20048834%26snippet%3Df
– Area roads to close for utility work
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080617/GPG0101/806170569/1978/GPGnews
HEALTH CARE (back to top)
– Attorney shields supervisors in health program
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080617/GPG0101/806170573/1978/GPGnews
– VA clinic named for Huempfner
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080617/GPG0101/806170588/1978/GPGnews
– Prevea names Fett to new post
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080617/GPG03/806170579/1247
– Health care skyrockets again
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080617/APC03/806170484/1028
– Ripon Medical Center to build new hospital
http://www.thenorthwestern.com/apps/pbcs.dll/article?AID=/20080617/OSH0101/80616136/1987
FINANCIAL SERVICES (back to top)
– Flood assistance available through FEMA
http://www.madison.com/tct/news/stories/291708
– Car insurance claims increase
http://www.jsonline.com/story/index.aspx?id=762677
– Wells Fargo deceptive, lawsuit claims
http://www.jsonline.com/story/index.aspx?id=762720
MANAGEMENT (back to top)
– George Will elected to Bradley Foundation board
http://milwaukee.bizjournals.com/milwaukee/stories/2008/06/16/daily4.html?surround=lfn
– Two finalists for city community development post
http://www.madison.com/wsj/home/local/291799
– Report: Comcast, Big Ten Network deal near
http://www.madison.com/tct/news/stories/291729
– WS Packaging gets certification
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080617/GPG03/806170580/1247
BUSINESS COLUMNS (back to top)
– Dana VanDen Heuvel: For Internet marketing, it’s all about linking up with others
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080617/GPG03/806170570/1247
– Arlen Boardman: Young Russians learning English for business
http://www.postcrescent.com/apps/pbcs.dll/article?AID=/20080617/APC0701/806170474/1436/APC03
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