From WisBusiness.com …
— A top Madison real estate exec says the $700 billion effort to salvage toxic mortgage-based securities, which he termed “taking the stinky meat out of the refrigerator,” could help “get the fear out” of the U.S. housing market.
But Dave Stark of 100-year-old Stark Co. Realtors added the national housing market isn’t out of the woods yet and may not see an uptick until next spring. He’s comforted by a favorable interest rate climate, noting that the last time he saw these kinds of troubles was in the double-digit high-interest times of the early 1980s.
Stark, however, stressed that the Madison housing market, while sluggish, isn’t in the crisis that’s being experienced in states like Nevada, Florida, California and Arizona. Real estate, he says, is “inherently local.”
He says so far sales are down and there’s too much inventory, but that housing prices in Dane County are holding their own.
The presidential election is adding negativity.
“Getting the election over with will be a good thing,” he told a luncheon organized by WisBusiness.com, Madison Magazine and the Madison Club.
— Dane County is hosting host the second in a series of seminars intended to help women and minorities interested in starting or improving their own businesses.
The free seminar, titled “Marketing Strategies on a Tight Budget,” will be held Oct. 23 from 5 p.m. until 7:30 p.m. at the Alliant Energy Center.
See details: http://www.wispolitics.com/index.iml?Article=138158
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Markets routed in global sell-off: Stock prices collapsed around the world on Monday amid growing fears that the credit crisis would trigger a global recession. The wave of selling swept through markets despite a scramble by governments to tackle the crisis, leading to rampant speculation that co-ordinated emergency rate cuts by the Federal Reserve and other central banks might be in the offing.
Oscar Mayer to lay off 19 here: A Kraft Foods layoff being announced Monday will result in 19 employees losing their jobs at Madison-based Oscar Mayer, according to plant officials. Sydney Lindner, associate director of corporate affairs for Kraft Foods at Oscar Mayer, told The Capital Times that the workforce reduction at Oscar Mayer will be in the office and that hourly plant employees will not be affected. The reduction is scheduled to take place in November.
Mototron sold to Colorado company: Brunswick Corp. announced Monday it would sell its Oshkosh-based MotoTron subsidiary to Woodward Governor Co.., of Ft. Collins, Colo. Mototron, with about 80 employees in four locations including a plant on Marion Road in Oshkosh and another in Ft. Collins, specializes in software and processes used to develop control systems for marine, power generation, industrial, and other engine equipment applications. The company projects 2008 sales of about $17 million.
Cranberry producers work to foster Japanese market: Cranberry producers have their sights set on a new market — Japan. The U.S. Cranberry Marketing Committee is working to promote the fruit throughout the world — a measure that could boost business in central Wisconsin, local industry leaders said.
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ECONOMY (back to top)
– Citi, Wachovia, Wells temporarily halt litigation
– Retail experts offer chilly forecast for holiday sales growth
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– Koss 1Q sales down 9 percent
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INVESTING (back to top)
– Districts had some warnings about risky investments, documents show
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– Lack of icebreakers on Lake Michigan could disrupt winter deliveries
RETAIL (back to top)
– CBCs setting a new trend as it goes smoke-free
– Harsh economic climate forces family-run Karcz to close
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REGULATION (back to top)
– Fond du Lac: Council discusses smoking ban issue
TOURISM (back to top)
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UTILITIES (back to top)
– Plan seeks to show students water industry
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FINANCIAL SERVICES (back to top)
– Anchor BanCorp files to raise capital, ups loan loss provision
MANAGEMENT (back to top)
– Schuenke changed corporate culture, grew NML
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BUSINESS COLUMNS (back to top)
– David Williams column: Don’t burst bubble of bottomless budgets!
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