(WisBusiness) TUES News Summary — 8 July 2008

From WisBusiness.com …

— The stock of Marshall & Ilsley Corp., the parent company of M&I Bank, tumbled to a new 52-week low of $12.50 Monday.

This was the first day of trading after the company announced on Thursday it expects to report a second quarter net loss of $1.50 to $1.60 per share as it absorbs up to $900 million in losses in the deteriorating housing market.

The company’s 52-week high is $48.37. It has been extremely vulnerable to the housing meltdown because it decided to expand in Arizona and Florida, two markets that have been hardest hit by the bursting of the housing bubble.

M&I will report 2008 second quarter financial results on July 16.

The corporation has said it expects to return to profitability in the third quarter of 2008.

See story:

— Kohl’s Department Stores has announced its 2008 back-to-school marketing campaign designed to appeal to a cross-generational group of shoppers.

The campaign will be “Inspired by the Artists…worn by you.”

The campaign will feature strong-performing juniors’ and young men’s denim brands connected with relevant musical artists, including: Lenny Kravitz and Levi’s; Avril Lavigne designing Abbey Dawn; Hayden Panettiere and Candie’s; Plain White T’s and Urban Pipeline; The Red Jumpsuit Apparatus and Tony Hawk; and Vanessa Carlton and So.

See story: http://www.biztimes.com/daily/2008/7/7/#kohls-unveils-back-to-school-campaign

— Tom Still, head of the Wisconsin Technology Council, boosts ethanol in an appearance on the statewide TV show “UpFront with Mike Gousha.”

Still calls corn-based ethanol “a bit of a transitional fuel” but says ethanol from papermaking and timbering could make the alternative energy future bright for Wisconsin. “We’ve got a lot of it in Wisconsin,” Still says.

Find video and audio: http://www.wisn.com/upfront/16802507/detail.html



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Press Releases
Caroling, Tree Trimming, and Cookie Decorating in July?
Governor Doyle Announces Industrial Revenue Bond Allocation in Milwaukee
Governor Doyle Announces Packers’ Chemical Relocating in Wisconsin
Great Lakes Bioenergy Research Center Hires Scientific Programs Manager
Local governments receive share of fuel tax, registration fees
PDQ Purchases Building for Headquarters

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


New North hopes lower sales tax spurs sales: A consortium of counties in northeastern Wisconsin are hoping low sales taxes will help spur sales to tourists from Illinois. The group — called New North — is targeting tourists from Chicago. That city’s sales tax rate jumped up to 10.25 percent this month. The economic development group, which represents 18 counties, wants to remind Illinois residents who vacation in Wisconsin that there are lower sales tax rates here. New North spokesman Josh Morby says a campaign aimed at tourists is on the way. He says the campaign could include broadcast and print ads as families gear up for back-to-school shopping.

USDA releases some Wisconsin CRP land for grazing: U.S. Agriculture Secretary Ed Schafer announced Monday that he is releasing Conservation Reserve Program acres for livestock grazing in counties recently designated as Presidential Disaster Areas because of flooding. Some of those acres include land in Wisconsin, which will allow grazing only in counties designated as primary and contiguous disaster areas and only because of flooding. “We have a crisis situation in the Midwest and other parts of the country that calls for drastic action,” said Schafer. “Major flooding along the Mississippi River and its tributaries came at one of the worst times for agriculture. Flood waters inundated thousands of acres that cannot be salvaged for production this growing season, and it happened at a time of record crop, food and fuel prices.”

Packers’ Chemical moving plant to Grant County: Packers’ Chemical Inc., a chemical blending manufacturing company, is moving its factory from Missouri to Wisconsin, Gov. Jim Doyle said Monday. Packers’ Chemical will receive $65,000 in Community Development Zone tax credits to construct and equip a new facility in Kieler, in Grant County. The company is committing to the creation of 27 new jobs under the $3.4 million project. “Manufacturing is a cornerstone of our economy, and it’s important we continue to invest in projects that will keep our manufacturing base strong and growing,” Doyle said in a press release.

Oshkosh Corp. does well in competition: Oshkosh Corp. has passed an important threshold in its running to supply the latest in blast-resistant vehicles to the U.S. military. The company announced that the joint light tactical vehicles it is jointly developing with Northrop Grumman Corp. have successfully undergone armor testing. The Department of Defense is expected to decide soon which industry competitors will continue into the 27-month technology development phase for the $40 billion program. One big advantage is the team’s incorporation of a diesel-electric drive system into the design, as it eliminates the need for a transmission and conventional drivetrain, which allows for creation of improved blast protection for the crew.

Midwest Airlines flight attendants could see significant pay cuts: They would earn less than counterparts at smaller airlines… Midwest Airlines Inc.’s flight attendants would earn less than their counterparts at the affiliated Midwest Connect regional carrier if the airline enacts proposed wage cuts that it says are needed to help avoid a Chapter 11 bankruptcy filing. Midwest flight attendants, now earning $17,000 to $39,000 annually, would find their pay cut to $13,000 to $25,000, representatives of their union said Monday. The airline is basing its wage cut proposal on the median hourly wages for flight attendants from regional airlines, including Appleton-based Air Wisconsin Airlines Corp., which flies United Express and other commuter services under contract…

Bialek to lead MSOE School of Business: Steven Bialek has been named chairman of the Rader School of Business at the Milwaukee School of Engineering. Bialek has served as interim department chair for the past two years, managing a staff of 11 full-time and 35 part-time faculty. He is also an associate professor and teaches in the areas of organizational behavior, leadership and project management. The MSOE Rader School of Business enrolls more than 200 undergraduate students and 125 graduate students in business management and information technology degree programs.


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)
– DirecTV launches on-demand service

– MyChart: Technology allows access to your records online

BIOTECH (back to top)
– New processing facility in Reedsburg to cash in on organic whey

ECONOMY (back to top)
– Ozaukee, Waukesha counties make Forbes list of best places to raise family

– Wausau Paper results to be released July 28

– Even deceased get stimulus money

MANUFACTURING (back to top)
– Komatsu Forest in Shawano carves equipment niche

– Derse secures funds for expansion in Milwaukee

– GM considers more cuts

LABOR (back to top)
– News industry woes may lead to layoffs at Isthmus

– Oshkosh Corp. subsidiary’s union continues strike

– Short commutes appeal to local working moms

SMALL BUSINESS (back to top)
– Coach’s has Southern kick

– Elmer’s piano-tuning business going strong

INVESTING (back to top)
– Dow up in early trading

REAL ESTATE (back to top)
– Garage entrance snags Sequoya Commons plans

– City preps for Pabst Farms boom

– Grafton trustees balk at buying hotel

AGRIBUSINESS (back to top)
– Groups want Senate hearings on dairy cooperative

– Number of large animal vets is on the decline in Wisconsin

– Crop Report: Yield Potential Still High for Corn, Soybeans

– Lt. Governor to Help Promote WFU Carbon Credit Program

TRANSPORTATION (back to top)
– $3.3M project at Outagamie airport paves way for larger aircraft

– AirTran fuels record traffic at Mitchell

RETAIL (back to top)
– American Girl plans Mall of America store:

– Angelic Brewing Co. closes

– Quillin’s to close West Avenue grocery store Wednesday

– Kohl’s taps Kravitz, Lavigne, others for 2008 back-to-school campaign

– Ben’s Cycle opens third expansion on Lincoln Ave.

REGULATION (back to top)
– USDA opens conservation land for grazing

– Madison zoning code in midst of badly needed remake

– Council approves non-union residency rules

TOURISM (back to top)
– Alliant Center’s Willow Island about to be concert central

UTILITIES (back to top)
– Natural gas customers could face sticker shock

HEALTH CARE (back to top)
– Meriter revamp will shift some services to site off Beltline

– National push to reform health care launches Tuesday

– Madison chiropractic clinic offers free care for GIs

– Samaritan work could top $9 million

– Blue Cross to disclose prices

– Analysts lower estimates for M&I

– Fed, SEC team up to help prevent financial risks

– Court rules against insurer in Dunn County case

MANAGEMENT (back to top)
– PDQ to move headquarters in Middleton

– SABMiller closes deal for Ukrainian brewer

– Legato moves into incubator

BUSINESS COLUMNS (back to top)
– Larry Avila: Economic bright spots are hard to see, but they’re there

Media Partners
Small Business Times
Madison Magazine

National Business Roundups ( back to top)
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–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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