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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TOP STORIES
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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.
http://www.ft.com/cms/s/0/c9a27b24-93d1-11dd-b277-0000779fd18c.html
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.
http://www.madison.com/tct/news/308164
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.
http://www.thenorthwestern.com/apps/pbcs.dll/article?AID=/20081007/OSH0101/810070413/1128&located=RSS
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.
http://www.wisconsinrapidstribune.com/apps/pbcs.dll/article?AID=/20081007/WRT0101/810070637/1806&located=RSS
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ECONOMY (back to top)
– Citi, Wachovia, Wells temporarily halt litigation
http://www.bizjournals.com/milwaukee/stories/2008/10/06/daily8.html
– Retail experts offer chilly forecast for holiday sales growth
http://www.bizjournals.com/milwaukee/stories/2008/10/06/daily7.html
– Northwest Wisconsin receives state economic development funds
http://www.bizjournals.com/milwaukee/stories/2008/10/06/daily6.html
– Branding campaign finds area support
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20081007/GPG03/810070527/1247
– Trade fears may hurt Midwest, study says
http://www.jsonline.com/story/index.aspx?id=803057
MANUFACTURING (back to top)
– Koss 1Q sales down 9 percent
http://www.bizjournals.com/milwaukee/stories/2008/10/06/daily9.html
– After successful launch, Miller brand fizzles to Bud Light Lime
http://www.jsonline.com/story/index.aspx?id=803058
INVESTING (back to top)
– Districts had some warnings about risky investments, documents show
http://www.jsonline.com/story/index.aspx?id=803120
REAL ESTATE (back to top)
– Study: Downtown Madison could support $100 million, 400-room hotel
http://www.madison.com/wsj/home/local/308248
AGRIBUSINESS (back to top)
– First Frost of the Autumn Finally Hits Wisconsin Crops
http://www.wisconsinagconnection.com/story-state.php?Id=1209&yr=2008
– State Onion Production Looks to be Down
http://www.wisconsinagconnection.com/story-state.php?Id=1210&yr=2008
– Will crisis reach farms?
http://www.jsonline.com/story/index.aspx?id=803056
TRANSPORTATION (back to top)
– Lack of icebreakers on Lake Michigan could disrupt winter deliveries
http://www.jsonline.com/story/index.aspx?id=803150
RETAIL (back to top)
– CBCs setting a new trend as it goes smoke-free
http://www.thenorthwestern.com/apps/pbcs.dll/article?AID=/20081007/OSH0101/810070418/1128&located=RSS
– Harsh economic climate forces family-run Karcz to close
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20081007/GPG03/810070529/1247
– Cellcom store to be earth-friendly
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20081007/GPG03/810070528/1247
– Whitefish Bay bread retailer closes shop
http://www.jsonline.com/story/index.aspx?id=803047
REGULATION (back to top)
– Fond du Lac: Council discusses smoking ban issue
http://www.fdlreporter.com/apps/pbcs.dll/article?AID=/20081007/FON0101/810070364/1289&located=RSS
TOURISM (back to top)
– Selig revels in Miller Park success
http://www.bizjournals.com/milwaukee/stories/2008/10/06/daily1.html
UTILITIES (back to top)
– Plan seeks to show students water industry
http://www.jsonline.com/story/index.aspx?id=803048
HEALTH CARE (back to top)
– McCain vs. Obama: A tale of two different health plans
http://www.bizjournals.com/milwaukee/stories/2008/10/06/focus1.html?b=1223265600^1711278
– Children’s Hospital is going lean
http://www.bizjournals.com/milwaukee/stories/2008/10/06/focus3.html?b=1223265600^1711301
– Health insurance premiums rise slowly, but deductibles jump
http://www.jsonline.com/story/index.aspx?id=803074
FINANCIAL SERVICES (back to top)
– Anchor BanCorp files to raise capital, ups loan loss provision
http://www.bizjournals.com/milwaukee/stories/2008/10/06/daily3.html
MANAGEMENT (back to top)
– Schuenke changed corporate culture, grew NML
http://www.bizjournals.com/milwaukee/stories/2008/10/06/story8.html?b=1223265600^1711132
– Foley to step down as State Journal editor
http://www.madison.com/wsj/topstories/308185
BUSINESS COLUMNS (back to top)
– David Williams column: Don’t burst bubble of bottomless budgets!
http://www.fdlreporter.com/apps/pbcs.dll/article?AID=/20081005/FON04/810050312/1348/FON03
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