— Battered by the recession and a government-fueled stigma against corporate travel, hotels nationally have seen a dramatic decrease in revenues, Marcus Corp. President and CEO Greg Marcus told Milwaukee Rotarians today. But the factors causing a national drop could benefit Milwaukee, as companies look for a low-key alternative to hold meetings rather than places like Las Vegas, which generate negative publicity, he said. Marcus said hotels’ revenue per available room, a key industry performance statistic, has dropped 18.2 percent in the first four months of 2008 nationally. Milwaukee saw a drop of 18.8 percent for the first quarter, and he said Las Vegas was hit with about a 35 percent drop. “That’s a dramatic figure,” Marcus said, whose company owns 20 hotels nationwide, including the Pfister and Grand Geneva Resort & Spa, and a large Midwest theater chain. The declines have led to the loss of some 200,000 hotel jobs, many of them affecting low-education workers, Marcus said. Marcus attributed the decline not only to the recession, but also to criticism against corporate travel and retreats leveled by President Barack Obama and Congress against AIG and other companies that were receiving federal bailout money. See more at WisBusiness: http://wisbusiness.com/index.iml?Article=162575 — Gov. Jim Doyle is meeting with President Obama today at the White House to discuss methods to lower health care costs while improving quality and expanding coverage. See the release: http://www.wispolitics.com/index.iml?Article=162586 — New orders for manufactured durable goods in May 2009 increased 1.8 percent to $163.9 billion, according to a report from the federal Commerce Department. Overall shipments fell 2.1 percent to $169.9 billion, while non-defense capital goods shipments declined 0.3 percent to $56.3 billion. Inventories decreased 0.8 percent to $323.3 billion. TOP STORIES Midwest Airlines to be sold: Republic Airways Holdings is acquiring Milwaukee-based Midwest Airlines from TPG Capital, a private equity firm. The transaction is subject to regulatory approvals and is expected to be completed in four to six weeks. Lawmaker: GM may pick small-car plant this week; Janesville one of three in running: A Michigan congressman says General Motors Corp. could decide as early as this week where it will build a new line of small cars, with Janesville one of three factories in the running. Mercury Marine keeps quiet: The company, which employs nearly 2,000 in Fond du Lac, has been the subject of several reports that suggest leaders are making a decision on consolidating operations at either Fond du Lac or at Stillwater, Okla.
************************************************************ See commentary from around the state and columns from WisBusiness contributors Jennifer Sereno, Kevin McKinley, Tom Burzinski, Gregg Hoffmann, Tom Still and Steve Jagler: ************************************************************ TECHNOLOGY (back to top) – Networked Insights makes sense of Internet chatter about brands – Cooper Power Systems aligns with AT&T on smart grid sensors
ECONOMY (back to top)
LABOR (back to top) – Laid-off Wisconsin workers eligible for federal aid SMALL BUSINESS (back to top) – Pet grooming business opens
REAL ESTATE (back to top)
AGRIBUSINESS (back to top)
TRANSPORTATION (back to top) – Frontier Airlines to be bought by Republic Airways under bankruptcy plan
RETAIL (back to top) – Surge in gardening boosts garden centers’ business – ReStore to hold grand opening on Saturday
REGULATION (back to top)
TOURISM (back to top)
UTILITIES (back to top)
HEALTH CARE (back to top) – Doyle calls special session to change hospital
FINANCIAL SERVICES (back to top)
MANAGEMENT (back to top) – Bauer named new CEO of Anchor BanCorp Wisconsin Inc. – Kraft Foods president retiring; headed Oscar Mayer for decade
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