| MON WisBusiness News Summary
3 May 2010
Exclusively for WisBusiness Subscribers
From WisBusiness.com …
— The Dow Jones tumbled back below the eleven-thousand mark last week before recovering slightly.
It opens today at 11,008, nearly 200 points below last week’s open.
The WisBusiness index of state stocks lost ground as well. It opens today at 2,150, down 61 points from last week’s open. Part of that decline came from the mining equipment company Joy Global, which saw its stock price fall by nearly nine percent.
— Earnings season continues today with quarterly reports from the nursing home company Assisted Living Concepts and the manufacturer Regal-Beloit.
The resort company Great Wolf reports its results on Tuesday, as does the utility Alliant Energy.
Integrys Energy, the parent company of the utility Wisconsin Public Service, reports its results on Wednesday.
See more on state stocks:
— Republican U.S. Senate candidate Dick Leinenkugel, who served as commerce secretary under Democratic Gov. Jim Doyle, says he was a little surprised at the nature of the attacks he’s received from fellow Republicans over his decision to join the race, but defended his service to the state.
But Leinenkugel told “UpFront with Mike Gousha,” a statewide Sunday TV news magazine show produced in conjunction with WisPolitics.com, that he has thick skin and the attacks represent opponents being worried that he could actually be the one to win against U.S. Sen. Russ Feingold.
Leinenkugel, who described himself as a Reagan Republican, said he was chosen for the Commerce position because of his experience in management and business.
“Who would they rather have in that role?” Leinenkugel asked. “Somebody who understands business, is a conservative Republican, or somebody that is a Democratic partisan who doesn’t understand business?”
He pointed to a number of success the state had in attracting and retaining workers while he was leading Commerce despite the economic downturn. But he pointed to continued high unemployment and called for lowering taxes and reducing regulations in order to allow small businesses to create jobs.
“What we need to do is have economic policy in this country that allows small business to do what it does best, and that is create jobs,” Leinenkugel said.
While saying he doesn’t believe now is the time to move forward with high-speed rail, Leinenkugel defended his role in the state’s no-bid contract to purchase train sets from Talgo. He said his role was only to ensure the Spanish manufacturer would build the trains in Wisconsin.
— Also on the program, Democratic gubernatorial candidate Tom Barrett expressed his dismay that the Legislature failed to pass some form of a clean energy bill.
Barrett said that if both parties, and labor and business would have gotten together a bill could have passed.
“To me, this is an issue that’s crying out for leadership,” Barrett said, “and I want us to deal with this issue in a way that is going to reduce our dependency on foreign energy sources.”
Barrett said comments that “adult supervision” was needed on the issue was directed at the way things work in Madison, not towards anyone specifically.
“This was an issue that could have been resolved if people wanted to resolve it,” Barrett said. “But I’m not convinced people wanted to resolve it, on both sides of the aisle.”
Watch “UpFront” online: http://www.wisn.com/upfront/23418451/detail.html
— BIO 2010, the world’s largest biotech convention, kicks off today in Chicago.
See a preview of the convention:
See a schedule of events for the Wisconsin delegation and follow convention developments at the WisBusiness BIO Blog:
– State talking with Harley Davidson: The Governor says he’s not worried about the future of Harley Davidson in Wisconsin. The motorcycle maker recently told its workers that profit losses and growing expenses could force them to move production out of the Badger State. Governor Jim Doyle says he’s not surprised by the development because people have been putting off buying luxury items, such as motorcycles, because of tough economic times.
– Barrett says Harley wants to keep politics out of its negotiations
Job outlook up for graduates: After a few dismal hiring cycles, the job market is looking up, especially in certain fields, university career counselors say, as graduation nears. According to a survey by the temporary help provider Manpower Inc., 12 of 13 industry sectors have a positive employment outlook for quarter two, which means more employers expect to hire than fire or reduce staff.
– Graduating seniors hopeful yet realistic
– College in four years not that common anymore
Rockwell turns to outside vendors; Statement on support jobs is a ‘blockbuster’ to union: Rockwell Automation has told a union local that represents 150 south side manufacturing and support employees that their work will be performed by outside vendors, the union local’s president said Sunday. The company said it’s replacing company-employed cafeteria and building maintenance workers with outside vendors, as many local companies have done, but that any other replacements are not yet set.
Critics call paper gift ‘a bribe’: The paper mill that would host a new $255 million wood-burning plant to generate steam and electricity has donated about 7,500 reams of paper to the D.C. Everest Area School District. Critics of the power plant, who contend it will cause too much pollution in town, say the gift is an effort to influence how people feel about the project. … A spokesman for Domtar said the truckload of color, heavier weight paper used mostly for classroom projects was donated because it was stored in a warehouse and was getting outdated.
VISIT BIZOPINION FOR BUSINESS-RELATED COMMENTARY
See commentary from around the state and columns from
TECHNOLOGY (back to top)
– First La Crosse gaming tournament and expo attracts 500
– Tech: Analysts see Palm purchase as a risky move for HP, ComputerWorld reports
BIOTECH (back to top)
– Biotech employment holds steady despite economy
– Biotech Busts And Breakthroughs
ECONOMY (back to top)
– Consumer spending advances sharply but incomes lag
– AP analysis: Economic stress drops in most areas
MANUFACTURING (back to top)
– Foundries emerging from economic meltdown
– Badger Meter to pursue global sales strategy
– Plover plant chosen for energy efficiency pilot program
– Briggs, Magnetek, Orion and Signicast execs say their operations are improving in 2010
LABOR (back to top)
– In depressed economy, unpaid college internships are on the rise
– Grass Roots: Is county EOC overreaching on immigration? Or doing its job?
– Census: Home workers grew
SMALL BUSINESS (back to top)
– Birdman of Monticello: Online business caters to devotees of growing pursuit
INVESTING (back to top)
– Stock futures rise, point to higher opening
– Battered bank stocks may boost portfolios
REAL ESTATE (back to top)
– Oshkosh: Davis Painting owner becomes industrial developer after buying large manufacturing complex
– Tax credit ends as home buyers, sellers make last-minute deals
– Especially for green homes, finding comparable sales is difficult
AGRIBUSINESS (back to top)
– State Cranberry Producers to Benefit From Large USDA Purchase
– Wisconsin businesses buzzing over new pure honey law
TRANSPORTATION (back to top)
– Will mayor’s European trip inspire changes for Madison cyclists?
– Toyota now faces 327 state, federal lawsuits
RETAIL (back to top)
– Flanner’s hopes store closing is temporary
– National Presto earnings climb 21.6%
– Johnson Outdoors earnings more than double
– Milwaukee: Urban supermarket opens on S.13th St. near Oklahoma Ave.
REGULATION (back to top)
– Smoking areas could change
– New law boosts penalties for those who scam elderly
– Department of Commerce sides with NewPage
TOURISM (back to top)
– Arrests Up At Mifflin Street Block Party
UTILITIES (back to top)
– Wisconsin Power & Light seeks two rate increases
– Brown County Citizens for Responsible Wind Energy steps up fight against wind turbines
– Minnesota to host 6 CapX2020 hearings; Residents this week can learn more about a proposal routing new high-voltage power lines through the area to a Mississippi River crossing at Alma, Wis.
HEALTH CARE (back to top)
– Gundersen to go ahead with major hospital expansion plan
– State fills mental-health gap left until nations health-care reform takes effect
– New online Wisconsin organ donor registry is popular
FINANCIAL SERVICES (back to top)
– FDIC fines former Ontario bank chief
– Proposed regulations take aim at automobile loans
– Tribal debt case weighs on lending
– Ridgestone Bank ordered to improve management, slash delinquent loans
MANAGEMENT (back to top)
– Executive Q&A: John Mitby of Axley Brynelson law firm
– First Monday Q&A: Nuclear is next big challenge
– New Medical College of Wisconsin president drawn to strengths, potential
– Small changes reduce business environmental impact
BUSINESS COLUMNS (back to top)
– Oil spill shows why we must plan for the worst
– Tom Saler: Goldman Sachs makes the case for financial reform
– John Torinus: State has to consider remaking its economy
– Column: Compounding a key part of successful investing
PRESS RELEASES (back to top)
· ActionCOACH Business Coaching: Founder and CEO Brad Sugars, world’s #1 business coach, appeared in Milwaukee on April 20, 2010
· AT&T Wisconsin: Employees team up with 200 students to help them experience benefits of staying in school
· Dept. of Workforce Development: Governor Doyle announces additional assistance for dislocated workers at Appleton Papers
· Gov. Doyle: Signs into law BadgerCare Plus Basic
· Madison Community Foundation: Spring grants total $1,022,256; focus on job development
· March of Dimes: Premier fundraising event benefits all babies
· Miron Construction Co.: Celebrates Arbor Day with First Lady Jessica Doyle and Mayor Dave
· Nicolet National Bank: Green shoots in Green Bay
· Quarles & Brady: Welcomes experienced health law attorney
· Reinhart Boerner Van Deuren: Reinhart helps make strides against breast cancer
· SecurityCoverage: Has strong start to 2010 and expands with a second office
· Sierra Club: Urges Governor Doyle to sign green building bill
· U.S. Sen. Feingold: Highlights health care tax credit for Wisconsin small businesses
· UW-Stevens Point: UWSP faculty member honored by Milwaukee Press Club
· UW-Stevens Point: UWSP in the midst of $40 million in construction/renovation projects
· UW-Stout: Students, faculty receive awards during Research Week
· Wis. Bankers Association: Consumer alert – telephone phishing attack in progress
· Wisconsin Safety Council: Companies honored for safety excellence
· Wisconsin Technical College System: Futuremaker grand prize winners announced
For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82