(WisBusiness) MON News Summary — 21 Dec. 2009

MON WisBusiness News Summary
21 December 2009
Exclusively for WisBusiness Subscribers


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From WisBusiness.com …

— The Dow Jones average goes into this holiday-shortened week down nearly 150 points from its open a week ago, starting the week at 10,328.

In Wisconsin, the truckmaker Oshkosh Corporation saw its stock price take a hit last week.

The company’s share price fell more than 9 percent in a week that saw the federal government announce a review of a multibillion dollar Oshkosh contract.

— A new report from the Institute for Wisconsin’s Future finds Wisconsin’s community banks have used federal assistance to help stabilize the state economy during the recession.

Twenty Wisconsin banks received TARP assistance and the 17 smaller banks that received TARP funds have as a group been Wisconsin’s strongest in terms of increased lending, stable capital, and maintenance of employment. These seventeen banks used the federal TARP funds to increase their lending, boosting small business activity around the state.

See more on the IWF report: http://wispolitics.com/index.iml?Article=180159

— The state utility commission says all of Wisconsin’s 118 electricity providers met renewable energy standards for the year.

The Public Service Commission says that means they’re on their way to meeting the increased standards they need to hit in 2015.

State utilities currently generate nearly five percent of the state’s electricity from renewable resources.

They’ll be required to be at 10 percent in 2015.

See more from PSC: http://www.wisbusiness.com/index.iml?Article=180180

— Gov. Jim Doyle plans to announce funding to help create and retain jobs in Waukesha County during a visit to Dickten Masch Plastics LLC in Nashotah. The announcement is set for 2:30 p.m.

TOP STORIES
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Bucyrus announces $1.3 billion deal: Bucyrus International will become the world’s largest mining equipment manufacturer after a $1.3 billion acquisition announced Sunday night. South Milwaukee-based Bucyrus said it is buying the mining division of Terex Corp., a move that could double Bucyrus’ market from roughly $15 billion to more than $30 billion a year in potential equipment sales.
http://www.jsonline.com/business/79775847.html

Amcore reaches agreement with lender: Amcore Financial, parent of Amcore Bank, on Friday announced an agreement with its lender, JP Morgan Chase Bank, concerning a previously disclosed technical default under its $12.5 million credit facility.
http://host.madison.com/wsj/business/article_1e460cc4-ec12-11de-bd96-001cc4c002e0.html

Environmental group challenges Rosendale Dairy: An environmental group says laws to protect the environment are lagging so far behind the times as to threaten the lives of Wisconsin residents, and the agency empowered to make a difference is shirking its duties.
http://www.thenorthwestern.com/article/20091221/OSH0101/912210345/1987/

Engine plant might close sooner than planned: union leader : Chrysler might be considering closing the Kenosha engine plant sooner than planned, a local union official said on Friday. Glenn Stark, UAW Local 72 president, said the company wanted to add up to 82 temporary employees here after Jan. 1 to boost production by 30 percent. That could lead to the Kenosha plant closing earlier in the fourth quarter 2010 than the original December 2010 date, he said.
http://www.kenoshanews.com/home/engine_plant_might_close_sooner_than_planned_union_leader_6983829.html

Pentagon pact saves jobs at Oshkosh Corp.: Just as the recession was threatening the Oshkosh Corp. with ruin, after builders stopped ordering drywall lifters and cement mixers, and cities stopped buying fire engines and garbage trucks, the little-known specialty truck company went after a long-shot Pentagon contract.
http://host.madison.com/ct/business/article_ccc376bc-ec22-5cd8-af4a-fd92fdfa409a.html

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VISIT BIZOPINION FOR BUSINESS-RELATED COMMENTARY

See commentary from around the state and columns from WisBusiness contributors Jennifer Sereno, Kevin McKinley, Tom Burzinski, Gregg Hoffmann, Tom Still and Steve Jagler:
http://blogs.wisbusiness.com/bizopinion

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ECONOMY (back to top)
– Madison ranked third most secure place in U.S.
http://host.madison.com/wsj/business/article_812845bc-ec05-11de-b10f-001cc4c03286.html

MANUFACTURING (back to top)
– Chemical firm to bring 125 jobs to Pleasant Prairie
http://www.jsonline.com/business/79584157.html

– Local suppliers shine for Oshkosh Corp.
http://www.thenorthwestern.com/article/20091220/OSH03/912200390

– Wisconsin companies increasingly doing business in India
http://www.leadertelegram.com/business/local/article_d8281529-ca2d-5c56-af19-6e82cf51f7f3.html

– Appleton completes sale of C&H Packaging
http://milwaukee.bizjournals.com/milwaukee/stories/2009/12/14/daily95.html

– Bill would create Harley-Davidson license plate
http://milwaukee.bizjournals.com/milwaukee/stories/2009/12/14/daily87.html

LABOR (back to top)
– Federal funding provided summer jobs for 4,000 state youth, young adults
http://host.madison.com/wsj/business/article_e3e9141a-699f-5161-b41b-a2ae92774848.html

SMALL BUSINESS (back to top)
– Entries sought for Wisconsin business plan contest
http://www.postcrescent.com/article/20091220/APC03/912200514

– When disaster strikes, Kaye picks up pieces
http://www.greenbaypressgazette.com/article/20091221/GPG03/912210521

– Small-engine shop sees jump in repair jobs
http://www.wausaudailyherald.com/article/20091221/CWS03/312210116/-1/WDH03/

REAL ESTATE (back to top)
– Coldwell Banker evolves into regional real estate giant
http://www.postcrescent.com/article/20091220/APC03/912200507

– Marketing the benefits of green real estate
http://host.madison.com/wsj/business/article_3842ad9c-cf1c-5b15-916c-a86d1c19c49e.html

AGRIBUSINESS (back to top)
– Pork Producers to Publish ‘Buy Wisconsin First’ Directory
http://www.wisconsinagconnection.com/story-state.php?Id=1516&yr=2009

– Senators Pushing for Job Assistance Programs for Farmers
http://www.wisconsinagconnection.com/story-state.php?Id=1512&yr=2009

– Wisconsin Milk Production Up, U.S. Down in November
http://www.wisconsinagconnection.com/story-state.php?Id=1511&yr=2009

– Wausau: Ginseng grower survives change
http://www.wausaudailyherald.com/article/20091221/CWS03/312210117/-1/WDH03/

TRANSPORTATION (back to top)
– Republic CEO apologizes for comments about Milwaukee
http://milwaukee.bizjournals.com/milwaukee/stories/2009/12/14/daily94.html

– Mitchell expects more holiday travelers
http://milwaukee.bizjournals.com/milwaukee/stories/2009/12/14/daily86.html

RETAIL (back to top)
– Festival Foods plans $1M renovation of catering facility
http://www.greenbaypressgazette.com/article/20091220/GPG03/912200632

TOURISM (back to top)
– Malfunctioning ski lift inspected last month
http://www.wkowtv.com/global/story.asp?s=11697187

UTILITIES (back to top)
– Wisconsin Governor Jim Doyle backs off energy independence goal for University of Wisconsin
http://www.postcrescent.com/article/20091221/APC0101/912210438/1979/

– Wave Wind catches the wind energy wave
http://www.jsonline.com/business/79772847.html

PRESS RELEASES (back to top)
· DOT: Frozen road law goes into effect December 20 in northern Wisconsin
· First Business Bank: Economic survey of northeast Wisconsin reveals downturn has hit all business sectors
· Glass Doctor of Southeast Wisconsin: Expands service to Madison
· Potbelly Sandwich Works: Potbelly to warm up Wisconsin with franchise opportunity for neighborhood hangout
· PSC: Report shows Wisconsin electric providers meeting or exceeding renewable energy standards
· TDS: Receives $8.6M in stimulus funds to expand broadband access in Chatham, Mich.
· UW-Madison: Engineering students take out the trash, cash in on design competition

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

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