From WisBusiness.com …
— The unemployment rate hit double digits in 12 Wisconsin cities in February, with Beloit again seeing the highest rate in the state. Beloit’s 16.9 percent unemployment rate was up from 15.2 percent in January. The other cities with double-digit rates were Appleton, Fond du Lac, Green Bay, Janesville, Kenosha, Manitowoc, Milwaukee, Racine, Sheboygan, Wausau and West Bend.
Overall, unemployment rates increased in 71 of 72 Wisconsin counties during the month of February; Kewaunee County saw no change in its 7.3 percent rate.
See details on local unemployment rates: http://dwd.wisconsin.gov/dwd/newsreleases/2009/unemployment/0209_local_lmi.pdf
— The Milwaukee Common Council voted 8-7 to approve an amended ordinance that creates wage standards and city resident hiring requirements for commercial developments that receive at least $1 million in financial assistance from the city of Milwaukee.
The heavily debated ordinance was discussed for more than two hours on the Council floor during the regular meeting at City Hall.
The approval means several changes are now in effect for development projects receiving at least $1 million in city assistance.
See more from BizTimes Milwaukee: http://www.biztimes.com/daily/2009/3/25/milwaukee-council-approves-wage-ordinance-for-commercial-projects
— The current economic slowdown is putting the squeeze on biotech start-ups, Promega deputy general counsel Sara Jensen said Wednesday.
“Cash is tight and your customers, your vendors and customers might fail, your business might fail, and we are seeing the effects of that every day,” she said.
She said over half of Promega’s sales are international, adding that sales to smaller biotech companies are “probably the largest single area where our sales are going down.”
Jensen made her comments as part of a seminar at the UW Law School titled “Global Financial Crisis: Implications for Wisconsin,” sponsored by the UW Center for World Affairs and the Global Economy (WAGE).
See more on the seminar soon at www.wisbusiness.com
— Attorney General J.B. Van Hollen announced that Northern States Power Company has agreed to reimburse the state Department of Natural Resources $1.3 million for its investigation into pollution from a site in Ashland.
See details: http://www.wispolitics.com/index.iml?Article=153329
— Madison’s Erdman was rated the nation’s top design-build company by Modern Healthcare’s 2009 Construction & Design Survey. The company has consistently ranked in the top two for the past eight years; this is the second consecutive year topping the list.
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Press Releases
· AFSCME: Members to lobby for investment in Wisconsin’s future
· AG Van Hollen: Northern States Power agrees to pay $1,300,000 to the Wisconsin Department of Natural Resources for recovery of contamination expenses
· Cooperative Network: Promotes rail reform legislation on Capitol Hill
· Dept. of Workforce Development: February 2009 local unemployment rates announced
· Northeast Wisconsin Technical College: Partners with Rasmussen College on bachelor completer program
· Rep. Fields: Proposes good faith efforts to avoid foreclosure
· U.S. Sen. Feingold: Announces stimulus funds to improve housing and create jobs
· U.S. Sen. Kohl: Bipartisan group of Senators introduce legislation to reduce cost share burden for manufacturing assistance centers
· Wisconsin Fair Trade Coalition: Milwaukee Common Council approves anti-sweatshop measure
For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82
TOP STORIES
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First Business Financial Services says no to TARP : First Business Financial Services of Madison, parent company of First Business Bank, will not participate in the federal Troubled Assets Relief Program (TARP).
http://www.madison.com/wsj/home/biz/444535
Central States Mortgage Co.’s layoffs allegedly unlawful: One of Wisconsin’s largest mortgage bankers is being investigated for possible violations of the state’s plant closure notification law. The Department of Workforce Development said Tuesday that the closure notification it received from Central States Mortgage Co. was dated the same day its Wauwatosa office shut down March 9, putting 107 employees out of work.
http://www.greenbaypressgazette.com/article/20090326/GPG03/903260602/1247
Jobless rate up in 71 of 72 counties: A new report says unemployment rates were up last month in 71 of Wisconsin’s 72 counties. The exception is Kewaunee County in east-central Wisconsin, where the rate remained unchanged at 7.3 percent.
http://www.postcrescent.com/article/20090326/APC03/903260522/1028
Marinette County hydroelectric plant sold: NewPage Corp. has sold its Little Quinnesec hydroelectric plant in Marinette County to an affiliate of a private equity fund co-managed by Northbrook Energy LLC of Chicago. Financial terms of the transaction were not disclosed in a press release.
http://www.bizjournals.com/milwaukee/stories/2009/03/23/daily35.html
Chrysler: Kenosha layoffs on hold : Workers at the Chrysler engine plant in Kenosha have until Friday to decide whether to accept buyout offers from the company, and until then layoffs planned at the factory are on hold, a company spokesman said. A round of indefinite layoffs affecting about 150 workers was scheduled to take effect Monday but those layoffs are on hold as the company reviews the situation, Chrysler spokesman Max Gates said.
http://www.jsonline.com/business/41824082.html
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WISBUSINESS FEATURED COLUMNISTS
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– TOM BURZINSKI: IT executive and consultant
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ECONOMY (back to top)
– Advance Little Chute’s new director has big plans
http://www.postcrescent.com/article/20090326/APC03/903260519/1028
– Madison ranked No. 3 among midsized cities
http://www.madison.com/wsj/home/biz/444513
MANUFACTURING (back to top)
– Madison company recalls trail mix
http://www.madison.com/wsj/home/biz/444452
LABOR (back to top)
– Milwaukee-area unemployment up to 8.1 percent
http://www.bizjournals.com/milwaukee/stories/2009/03/23/daily37.html
SMALL BUSINESS (back to top)
– Investigators find abuse in small business program
http://www.madison.com/tct/business/444443
REAL ESTATE (back to top)
– Cardinal Stritch won’t buy We Energies land in St. Francis
http://www.bizjournals.com/milwaukee/stories/2009/03/23/daily40.html
– Hartford development agency to buy 65 acres for business park
http://www.jsonline.com/business/41868577.html
RETAIL (back to top)
– After success in Madison, MyMenu expansion to include franchise
http://www.madison.com/wsj/home/biz/444530
– Steinhafels to open three small mattress stores
http://www.jsonline.com/business/41868587.html
REGULATION (back to top)
– Xcel Energy to reimburse DNR for pollution costs
http://www.jsonline.com/business/41845562.html
TOURISM (back to top)
– Taxes to stadium district down 11 percent
http://www.greenbaypressgazette.com/article/20090326/GPG03/903260607/1247
HEALTH CARE (back to top)
– ProHealth Care to work with Yale on study
http://www.bizjournals.com/milwaukee/stories/2009/03/23/daily42.html
– AARP honors St. Luke’s, Froedtert
http://www.bizjournals.com/milwaukee/stories/2009/03/23/daily41.html
– Madison firm debuts vision device at Eye Institute event
http://www.jsonline.com/business/41833372.html
FINANCIAL SERVICES (back to top)
– Northwestern Mutual names Schlifske president
http://www.bizjournals.com/milwaukee/stories/2009/03/23/daily44.html
MANAGEMENT (back to top)
– Paul Jones named new CEO at Shopko
http://www.postcrescent.com/article/20090326/APC03/903260529/1028
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