— Wisconsin’s unemployment rate for June was 9.2 percent, up one half of a percentage point from the 8.7 percent rate in May. Those new numbers from the state show a loss of 123,000 jobs since June 2008. But state secretary of Workforce Development Roberta Gassman says there was also some hopeful news as the state added more than 10,000 manufacturing jobs from May to June. See the DWD release: http://dwd.wisconsin.gov/dwd/newsreleases/2009/unemployment/0609_state_lmi.pdf — Badger Meter, Inc. reported record earnings for the second quarter of 2009. Net earnings were a record $7.75 million, a 10.2 percent increase from earnings of $7 million for the same period in 2008. Richard A. Meeusen, chairman, president and CEO of Badger Meter, said the record second-quarter earnings reflected favorable pricing for raw materials, including copper and other commodities, and the company’s ongoing emphasis on cost containment. The gross profit margin was 39.3 percent for the second quarter of 2009, compared to 35.3 percent for the same period in 2008. See the earnings release: http://www.businesswire.com/news/home/20090716006273/en — Gov. Jim Doyle plans to make an announcement today concerning the future of the Chicago-Milwaukee-Madison rail line “that will generate local jobs.” The announcement is set for 10:30 a.m. at the Dane County Regional Airport in Madison. Doyle has been pursuing American Recovery and Reinvestment Act funds for a high-speed rail line connecting Madison to Chicago. — U.S. Ag Secretary Tom Vilsack said a total of $760 million has been made available for approved but previously unfunded USDA direct farm ownership and operating loans while appearing with U.S. Transportation Secretary Ray LaHood and Doyle at a “Rural Tour” stop at the La Crosse Interstate Fair. “President Obama provided a welcome boost to rural economies around the country when he signed the Supplemental Appropriations Act because it has critical funds that will enable local producers to access necessary capital,” Vilsack said. “USDA will deliver these loans to producers as quickly as possible to meet the capital needs of farmers and ranchers.” See more coverage of the “Rural Tour” stop: http://www.wispolitics.com/index.iml?Article=164720 — Vilsack got an earful from about 250 organic farmers and their supporters concerned about what they consider unfair practices by big corporations in the dairy industry. “In general, organic farmers are very positive about what is coming out of the Obama administration so far,” said Cornucopia Institute’s Mark Kastel. “We realize they inherited a mess from the Bush administration. “What we want is for Secretary Vilsack to know the gravity of the situation that many organic farmers are facing right now,” said Kastel, whose organization advocates for organic farming. See more: http://wisbusiness.com/index.iml?Article=16472 — The Wisconsin Farm Bureau Federation asked Vilsack for a temporary change to the federal Milk Income Loss Contract program to give extra assistance to dairy farmers from now through September. Vilsack also heard from U.S. Sens. Herb Kohl and Russ Feingold, who signed a letter urging Vilsack to help farmers by increasing the purchase price for products under the federal Dairy Price Support program. See the Farm Bureau release: http://www.wfbf.com/archivej/htmArchive/showPage.aspx?page=15627.htm&id=15627 TOP STORIES U.S. Bancorp ends participation in TARP : U.S. Bancorp of Minneapolis, parent company of U.S. Bank, announced the bank has ended participation in the U.S. Treasury’s Troubled Asset Relief Program (TARP). Fired UW pharmacist took more than 27,000 tablets of narcotics, reports say: A University of Wisconsin pharmacist fired for drug abuse pilfered more than 27,000 tablets of powerful narcotics from the cancer clinic he worked for, according to a case file released by the state regulatory agency that disciplined him last month. Union chief says Merc management is exploiting poor economy, blaming workers: Mercury Marine Union President Mark Zillges said he believes the company is trying to bust the union and take advantage of workers in a bad economy. “I don’t see (Mercury President) Mark Schwabero reopening his contract,” said Zillges, a die caster and 25-year company employee. Wisconsin unemployment climbs in June: Unemployment in Wisconsin increased to 9.2 percent in June.
************************************************************ 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) – Renaissance Learning reports boost in profits
ECONOMY (back to top) – State lost 123,000 jobs in past year – Lang Holdings files for bankruptcy reorganization MANUFACTURING (back to top) – French workers threaten to blow up machines at Oshkosh Corp. subsidiary
LABOR (back to top)
INVESTING (back to top)
REAL ESTATE (back to top) – Condo plan would end consideration of 20th Avenue-Main Street connection – Wisconsin Realtors Association offers online project to help people avoid foreclosures
AGRIBUSINESS (back to top) – Emotions Run High During Vilsack’s Wisconsin Visit
TRANSPORTATION (back to top)
REGULATION (back to top) – Monona’s chicken ordinance continues to generate controversy
UTILITIES (back to top)
HEALTH CARE (back to top) – Janesville hospital construction to begin in October
FINANCIAL SERVICES (back to top)
PRESS RELEASES (back to top) For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82 |
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