— Chrysler on Thursday revealed plans to close 789 dealerships, and media reports indicate GM is set to cut ties with another 1,100 dealers today. The Chrysler closures include 18 locations in Wisconsin. Chris Snyder, general counsel for the Wisconsin Auto and Truck Dealers Association said dealers are victims of problems they did not create. “There are dealers on this list who have been serving communities for decades,” Snyder said, adding communities will suffer because “we are going to lose some dealers, some members, communities are going to lose people who contribute to charities and quality of life in the communities where they live.” *See more in a WisBusiness story on the Chrysler plans: http://www.wisbusiness.com/index.iml?Article=158660 *See the list of affected Wisconsin dealerships: http://www.wisbusiness.com/index.iml?Article=158664 — Nearly 90 percent of survey respondents in a new report on philanthropy in Wisconsin reported their assets dropped in the last 12 months and over half of the grantmakers predicted a decrease in grant funding in 2009. Based on the survey results, it is projected that grantmaking budgets will decrease more significantly in 2010 than they will in 2009. The State of Philanthropy Report, underwritten by Northwestern Mutual Foundation, includes a detailed look at grantmaking in Wisconsin. *See more in a press release: http://www.wisbusiness.com/index.iml?Article=158715 *See the report: http://www.dfwonline.org/ — State Sens. Dan Kapanke, R-La Crosse, and Dale Schultz, R-Richland Center, will join Lancaster Mayor Jerry Wehrle, to visit Dubuque, Iowa, today to meet with Mayor Roy Buol and City Administrator Michael Van Milligen in an effort to examine how their city has garnered recent job growth and to tour the John Deere Dubuque Plant. See details on the trip: http://www.wisbusiness.com/index.iml?Article=158686 TOP STORIES 18 state Chrysler dealers in jeopardy; see full list of affected U.S. dealerships: Chrysler LLC wants to eliminate roughly a quarter of its 3,200 U.S. dealerships — including 18 in Wisconsin —by early next month, saying in a bankruptcy court filing Thursday that the network is antiquated and has too many stores competing with each other. MGIC pursues new operating strategy: MGIC Investment Corp. is pursuing a new operating strategy that its executives believe will enable the mortgage insurer to continue writing new policies despite capital constraints, the company’s chairman and CEO said Thursday.
************************************************************ See commentary from around the state and columns from WisBusiness contributors Jennifer Sereno, Kevin McKinley, Tom Burzinski, Gregg Hoffmann, Tom Still and Steve Jagler: ************************************************************
ECONOMY (back to top) – Chrysler to cut ties with Mueller – Area Chrysler dealerships not slated to close – Chrysler plans to cut area dealerships – Homebuilders, remodelers in Wisconsin see signs of recovery
MANUFACTURING (back to top)
SMALL BUSINESS (back to top) – Programs to help young entrepreneurs burgeoning
REAL ESTATE (back to top) – Foreclosures push Equitable into real estate
AGRIBUSINESS (back to top) – New panel a boost for Dane County farming
TRANSPORTATION (back to top) – US Airways to increase baggage fees
RETAIL (back to top) – Kohl’s gaining market share, CEO says
TOURISM (back to top)
UTILITIES (back to top) – Orion Energy reports $1.13 million fourth-quarter loss – Rate watch: CEO calls price hikes ‘most unwelcome’
HEALTH CARE (back to top)
FINANCIAL SERVICES (back to top)
MANAGEMENT (back to top) – Manitowoc Co. names Nolden as treasurer
BUSINESS COLUMNS (back to top) – Mike Ivey: Business Beat: Furloughs aren’t perfect, but they beat the alternative PRESS RELEASES (back to top) See commentary from around the state and columns from WisBusiness contributors Jennifer Sereno, Kevin McKinley, Tom Burzinski, Gregg Hoffmann, Tom Still and Steve Jagler: For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82 |
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