By Brian E. Clark
RISING
Paint companies
The lead paint industry scored a major victory Monday in the first of
30-plus personal injury lawsuits brought in Wisconsin when a Milwaukee
County Circuit Court jury said that paint companies weren’t responsible
for harm claimed by a young man’s family. Another 20 similar suits are
pending around the country.
In a highly controversial 2005 decision that stemmed from the Milwaukee
case, the Wisconsin Supreme Court ruled that personal injury lawsuits
could be brought against manufacturers of paint and lead additives even
if the plaintiffs couldn’t prove which manufacturer was responsible for
the poisoning.
The Milwaukee jury agreed that Steven Thomas, now 17 and
developmentally disabled, ate lead when he lived in two older Milwaukee
homes as a toddler. However, the jury said Thomas’ brain wasn’t hurt by
the lead. It also said the therapy used at a hospital to get rid of the
lead did not hurt him.
See the WisBusiness.com story at
http://www.wisbusiness.com/index.iml?Article=109729
MIXED
Kraft Foods
Kraft Foods is reporting that rising dairy prices weighed down profits
for its most recent quarter, falling 20 percent from year-ago results
that included a one-time gain.
Despite results that were also affected by investments in new products,
the nation’s biggest food and beverage maker posted
better-than-expected revenues. Executives of the parent of Oscar Mayer
Foods of Madison said the costs to make its products are expected to
climb 9 percent this year.
Meanwhile, costs associated with making dairy products in North America
— including Kraft’s popular namesake cheeses — are up 40 percent in
the third quarter. Kraft shares closed Monday at $33.15, down from a
52-week high of $37.20.
FALLING
Gehl
West Bend-based Gehl Co.’s earnings fell 40 percent in the last
quarter. The construction equipment manufacturer reported net income of
$5.05 million, or 40 cents per share, down $8.3 million, or 67 cents
per share, from the same period last year.
The company said it has gained international market. It also announced
plans recently to build a $20 million headquarters and research and
development facility.
But North American sales were dragged down by countrywide problems in
the residential housing sector, the company said. Shares closed Monday
at $19.12, down from a 52-week high of $33.17.
