(WisBusiness) WED News Summary — 5 Nov. 2008

From WisBusiness.com …

— The Public Service Commission is due to hold its biennial Strategic Energy Assessment today to evaluate whether Wisconsin’s current and future electrical supply is adequate to meets the state’s needs from 2008 through 2014.

The hearing will field such questions as:
-Anticipated growth in energy demand.
-Planned new construction of generation and major transmission lines.
-Need to purchase power from outside sources.
-Types of fuels they plan to use.

The PSC will write a draft report assessing the adequacy and reliability of the state’s electrical supply. Utilities, advocacy and interest groups and the general public are invited to submit oral and written testimony to comment on the draft. The PSC will issue a final report and submit it to the Legislature in early 2009.

— Milwaukee voters have overwhelmingly approved a binding referendum requiring employers to provide paid sick leave to their employees. It was backed by 69 percent of voters with 31 percent opposed.

Milwaukee 9to5 Director Amy Stear, whose group got the measure on the ballot, called it a “great win” that will help with people’s health, economic well-being and ability to take care of loved ones who get sick.

“We’re very happy for our community and city that families in Milwaukee are going to enjoy a healthier, more economically stable city in the future here,” Stear said.

MMAC President Tim Sheehy wasn’t surprised by the result, but said it will hurt Milwaukee’s ability to attract and retain jobs.

“I don’t view this as an advantage in selling Milwaukee as a place to attract and expand jobs,” Sheehy said, noting that employers could choose to locate somewhere they would not have to pay the added expense.

See more: http://www.wisbusiness.com/index.Iml?Article=140822

— Columbia St. Mary’s Inc. has laid off 74 employees, which officials say is part of a systemwide initiative to reduce costs because of the economic downturn.

“As employers cut back on health benefits, and as workers are losing their jobs we find that fewer patients are seeking care; and for those that we do care for we are paid less for the services we provide,” Leo Brideau, president and CEO of Columbia St. Mary’s, said in a written statement.

The layoff was immediate and did not affect any physicians or registered nurses, said Kathy Schmitz, spokesperson for the Milwaukee-based system.

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Press Releases
Celebrate National Adoption Month with Jockey Being Family
· Regal Beloit Reports Record Sales and Earnings for the Third Quarter of 2008
· Regal Beloit to Present at the Robert W. Baird & Co. Industrial Conference
· STUDENT ENTREPRENEURS WORKING TO GREEN THE ECONOMY
· ViewCast Streaming Encoder Gives Milwaukee Suburb an Ideal Solution for Delivering PEG Programs
· Weyco Reports Third Quarter Sales And Earnings
· Zizzo Group: Jamie Szwiec joins Zizzo Group’s public relations team as account executive
· Zizzo Group: Kristin Settle joins Zizzo Group’s public relations team as account manager

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


TOP STORIES
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TCF will join in bank-rescue program: TCF Financial Corp. said Monday it will participate in the U.S. Treasury Department’s financial rescue program, becoming the latest area bank to take federal money in return for stock. Wayzata, Minn.-based TCF (NYSE: TCB), which has 27 branches in Wisconsin, said it received preliminary approval from the Treasury to participate in the voluntary program. Under the agreement, the Treasury would make a $361 million investment in senior perpetual preferred stock of TCF.
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily15.html

Columbia St. Mary’s cuts staff: Columbia St. Mary’s Inc. laid off 74 employees Monday, which officials say is part of a systemwide initiative to reduce costs because of the economic downturn. “As employers cut back on health benefits, and as workers are losing their jobs we find that fewer patients are seeking care; and for those that we do care for we are paid less for the services we provide,” Leo Brideau, president and CEO of Columbia St. Mary’s, said in a written statement.
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily16.html

TomoTherapy completes acquisition of Chinese firm: Madison-based TomoTherapy Inc. on Tuesday announced it has finalized an agreement to acquire privately held linear accelerator manufacturer Chengdu Twin Peak Accelerator Technology Inc., based in Chengdu, China. Terms of the deal were not disclosed.
http://www.madison.com/tct/business/312907

Area awards highlight strong growth in lean times: Northeastern Wisconsin manufacturers continue to prosper in the face of a downturned economy. Five will be recognized Thursday night by the Green Bay Area Chamber of Commerce with Manufacturing Awards of Distinction. “Things are strong. We’ve had a really, really strong influx of new business,” said Chris Moore, owner and president of N.E.W. Industries Inc. of Sturgeon Bay.
http://www.greenbaypressgazette.com/article/20081105/GPG03/811050659/1247

Sun Prairie firm gets big contract: A Sun Prairie firm is being included in a $12 million contract to set up a new data center for the U.S. Food and Drug Administration. Comprehensive Computer Consulting, in partnership with EDS, has been awarded a five-year, $12 million contract to assist in the move of the FDA’s data center from Rockville, Md., to White Oak, Md
http://www.madison.com/tct/business/312782

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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)
– American Superconductor cuts loss, expects profit in first three months of 2009
http://www.madison.com/tct/business/312742

MANUFACTURING (back to top)
– Profit jumps at MillerCoors
http://www.jsonline.com/news/wisconsin/33891439.html

– Freedom company recognized as one of Valley’s manufacturers of the year
http://www.postcrescent.com/article/20081105/APC03/811050502/1028

– Papermaker Appleton honored by P&G
http://www.postcrescent.com/article/20081105/APC03/811050518/1028

– Orion earnings beat expectations; company lowers full-year forecast
http://www.jsonline.com/business/33842834.html

– TreeHouse posts slight profit rise, will close plant
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily18.html

– Regal Beloit 3Q profits rise
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily14.html

– Weyco 3Q profits, sales down
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily13.html

SMALL BUSINESS (back to top)
– Milwaukee partners launch Web site on a shoestring to showcase start-up businesses
http://www.jsonline.com/business/33860519.html

INVESTING (back to top)
– Bemis Co. declares stock dividend
http://www.postcrescent.com/article/20081105/APC03/811050517/1028

– Bellin’s bond rating affirmed
http://www.greenbaypressgazette.com/article/20081105/GPG03/811050662/1247

REAL ESTATE (back to top)
– Combined Locks expects slight tax hike for 2009
http://www.postcrescent.com/article/20081105/APC0101/811050522/1004&located=RSS

– Stevens Point: Proposed downtown apartment complex draws opposition
http://www.stevenspointjournal.com/article/20081105/SPJ0101/811050441/1657&located=RSS

– Green Bay Area Chamber of Commerce begins move to new building today
http://www.greenbaypressgazette.com/article/20081105/GPG03/811050660/1247

– Veridian Homes held to expiring inclusionary zoning rule
http://www.madison.com/tct/business/312688

– Architectural firm may move to Menomonee Valley
http://www.jsonline.com/business/33829014.html

– Milwaukee: Apartment building planned at Farwell, Kenilworth
http://www.jsonline.com/business/33824939.html

– Courtyard by Marriott planned near airport
http://www.jsonline.com/business/33826379.html

AGRIBUSINESS (back to top)
– Business Beat: Cheaper oil, financial meltdown toast ethanol industry
http://www.madison.com/tct/business/312848

TRANSPORTATION (back to top)
– Midwest more active in fuel hedging
http://www.bizjournals.com/milwaukee/stories/2008/11/03/story11.html?b=1225688400^1725888

RETAIL (back to top)
– Zimbrick challenges planned Honda dealership
http://www.madison.com/wsj/home/biz/312910

– Starbucks, Ben & Jerry’s, Krispy Kreme offer voters goodies
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily20.html

REGULATION (back to top)
– Update: FCC to probe pricing policies, channel moves of major cable firms, Verizon
http://www.madison.com/tct/business/312744

UTILITIES (back to top)
– WPS to interrupt power Thursday in Door County
http://www.greenbaypressgazette.com/article/20081105/GPG03/811050663/1247

HEALTH CARE (back to top)
– Diane Postler-Slattery, president and chief operating officer of Aspirus Wausau Hospital, receives Athena Award for her efforts to give opportunities to women
http://www.wausaudailyherald.com/article/20081105/WDH0101/811050452/1581&located=RSS

– Assisted Living Concepts’ earnings fall
http://www.bizjournals.com/milwaukee/stories/2008/11/03/daily19.html

FINANCIAL SERVICES (back to top)
– BLC Community Bank opens new business center in Green Bay
http://www.greenbaypressgazette.com/article/20081105/GPG03/811050661/1247

– Summit and Great Wisconsin complete merger
http://www.madison.com/wsj/home/biz/312777

MANAGEMENT (back to top)
– Great Wolf names new CEO
http://www.madison.com/wsj/home/biz/312929

– Stritch program training black leaders
http://www.bizjournals.com/milwaukee/stories/2008/11/03/story20.html?b=1225688400^1726118

Media Partners
—Channel3000
—Small Business Times
—Madison Magazine
—BusinessWeek

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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