From WisBusiness.com …
The Governor’s Business Plan Contest has a new feature this year: a youth competition aimed at high schoolers with an entrepreneurial bent.
Tom Still, president of the Wisconsin Technology Council – which has hosted the competition for the past five years – said young people in Dane County can win money for coming up with good ideas for new businesses.
“It’s all about trying to help kids who have some entrepreneurial instinct pull together the elements of a business plan and also learn what it means to start a company,” Still said. “I think it can be a great learning experience for them with judging and prizes.”
If there is enough participation and interest this year, he said it will be expanded from Dane County to a statewide competition next year. The youth contest is sponsored by the Madison Community Foundation with a $5,000 grant. For details, see danecountyyes.com.
Interestingly, the team from the Platteville start-up Graphene Solutions, which was last year’s Grand Prize winner, included 17-year-old Phillip Streich. It is headed by CEO Phil Jackson and Jim Hamilton, a UW-Platteville chemistry professor, who worked with Streich – now at Harvard University – to develop purified carbon nanotubes and ultrathin graphite microsheets for use in electronics.
Daniel van der Weide, whose company Optametra, won last year’s IT division, said he benefited from participating in the competition because it “took us through process of increasingly detailed planning.”
He said the criticism received helped him focus and presentations “sparked interest from venture capital, further refining our business plan. The advice was priceless and we were contacted by groups outside of the state because of the press associated with the contest.”
The deadline for entering the contest is tomorrow at 5 p.m.
Read more soon at www.wisbusiness.com about the contest and past winners.
— The recession is being felt more in some Wisconsin counties than others.
While unemployment rates rose in all but two of Wisconsin’s 72 counties in December, the jobless rates vary widely, from 3.9 percent to 10.7 percent.
That low number is in Dane County, home to a lot of state and university employees and a growing tech industry. The high number, 10.7 percent, is in far-north Iron County, where the boom of past mining days has passed.
The only two counties that showed a lower unemployment rate in December from November were Green Lake and Florence. But the decline was small … with both down less than one percentage point.
See more from the DWD’s local unemployment report:
http://dwd.wisconsin.gov/dwd/newsreleases/2009/unemployment/1208_local_lmi.pdf
— Pacal Holdings LLC of La Crosse has notified the state about 89 temporary layoffs resulting from “a sudden and unexpected decline in business from a major customer.”
— A small-business owner in Madison is taking a unique challenge next month — he’s planning to live only off of products delivered by his company.
Jeremy Neren, the co-owner of Madtown Munchies, a late-night delivery service that offers 30-minute delivery of meals and snacks, plans to spend February eating and drinking only foods and beverages offered by Madtown Munchies
See his press release for details: http://www.wisbusiness.com/index.iml?Article=147319
— Real gross domestic product decreased at an annual rate of 3.8 percent in the fourth quarter of 2008, according to today’s advance estimate from the federal Bureau of Economic Analysis. The largest contributors to the decrease were a downturn in exports and a decrease in equipment and software.
See more below in TOP STORIES
**********************************
REGISTER NOW FOR MONDAY’S LUNCHEON
Featuring Kevin Conroy of Third Wave Technologies
The Madison Club, 5 E. Wilson St., Madison.
The next WisBusiness.com Luncheon at the Madison Club, organized by the Madison Club, Madison Magazine, and WisBusiness.com, is slated for Monday Feb. 2 at 11:45 a.m.. The guest is Kevin Conroy of Third Wave Technologies. To learn more about Kevin Conroy and Third Wave Technologies visit: http://www.twt.com
The event is open to the public, and the price for lunch is $19. Call the Madison Club to register at (608) 255-4861. The luncheon starts at 11:45 a.m. and ends at 1 p.m.
****************************************
THANKS TO OUR WISBUSINESS SPONSORS
- University of Wisconsin-Milwaukee
- Madison Gas & Electric
- University Research Park
- Wisconsin Technology Council
****************************************
QUICK LINKS
Use these links to jump directly to a news summary topic
Technology | Biotech | Economy | Manufacturing | Labor | Small Business | Investing | Real Estate | Agribusiness | Transportation | Retail | Regulation | Tourism | Utilities | Health Care | Financial Services | Management | Business Columns |
Press Releases
· Bjorksten | bit 7: Bit 7 of Madison rebrands itself as Bjorksten to better reflect wider scope of capabilities
· Dane County Exec. Falk: Dane County poised to lead in new economy
· Dept. of Commerce: City of Milton delegated responsibility for erosion control
· Dept. of Commerce: Town of Amherst delegated to enforce commercial building codes
· Dept. of Workforce Development: December 2008 local unemployment rates announced
· InvivoSciences LLC: Wisconsin-based local biotech company InvivoSciences LLC and its platform technology grabs attention at the 2009 WBTshowcase
· Madison La Follette High School: Lancer Leap Gala Feb. 7 at East Side Club; proceeds benefit Madison’s only all-school booster club
· Madtown Munchies: The Madtown Munchies Challenge — ’28 days on munchies’
· Museum of Wisconsin Art: An evening of wine & roses set for Saturday, February 7, 2009
· Smoke Free Wisconsin: Gov. Doyle budget proposal for smoke free workplaces
· UW-Madison: Wisconsin Idea endowment going strong in its seventh year
· Wisconsin Farm Bureau Federation: ‘Farmer George Plants a Nation’ selected as book of the year
· Wisconsin Public Service: Kent Reinhardt named Merrill manager for Wisconsin Public Service
For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82
TOP STORIES
*************
GDP Falls 3.8 Percent; Drop is Less Than Expectations
The U.S. economy shrank at its fastest pace in nearly 27 years in the fourth quarter, government data showed, sinking deeper into recession as consumers and business cut spending. The Commerce Department on Friday said gross domestic product, which measures total goods and services output within U.S. borders, plummeted at a 3.8 percent annual rate, the lowest pace since the first quarter of 1982, when output contracted 6.4 percent. GDP fell 0.5 percent in the third quarter. These were the first consecutive declines in GDP since the fourth quarter of 1990 and the first three months of 1991. Analysts polled by Reuters had forecast GDP contracting 5.4 percent in the fourth quarter.
http://www.cnbc.com/id/28930790
Rexnord cuts 100 local jobs: Rexnord LLC said Thursday that it cut 100 jobs in the Milwaukee area this week, 75 of them at its Falk subsidiary in Milwaukee’s Menomonee Valley. Milwaukee-based Rexnord had about 1,300 employees in the Milwaukee area prior to the cuts, including about 700 at Falk, which manufactures industrial-size gears. The cuts involve a “range of job responsibilities from the floor to white-collar positions,” Rexnord spokeswoman Karen Schwenke said.
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily66.html
Layoffs made in Wausaukee, Delavan: About 200 workers at three Wisconsin companies have been or will be on layoff according to new layoff announcements made Wednesday by the Wisconsin Department of Workforce Development. Sixty-one workers at the Cuba City plant of Wausaukee Composites have been temporarily laid off and will be on layoff for two months, after the plant’s largest customer canceled a contract.
http://www.madison.com/tct/business/435499
Greenheck cuts another 155 jobs: A sharpening decline in commercial, industrial and school construction throughout the world triggered a second round of job cuts in as many months at Greenheck Fan Corp. An additional 155 production workers were told Wednesday that their last days on the job would be Feb. 6 or 13. Jon Krueger, the company’s vice president of human resources, said the company simply does not have enough business.
http://www.wausaudailyherald.com/article/20090130/WDH0101/901300672&referrer=FRONTPAGECAROUSEL
Oshkosh Corp. lays off 25 in Oshkosh and Appleton after posting first quarter losses: The company cut nearly 1,000 jobs as part of cost-saving measures, but only 25 positions were jobs based in Oshkosh and Appleton, Oshkosh Vice President of Marketing Ann Stawski said. “For our local staff, the defense and fire and emergency side continue to do well in Oshkosh and Appleton,” Stawski said. “We continue to see strong growth in markets that have been affected.”
http://www.thenorthwestern.com/article/20090130/OSH03/901300431/1167
Wisconsin’s jobless numbers jump 26.4%: The recession has hit Wisconsin hard the past year. In the wake of plant closures and work force reductions throughout the state, the number of people out of work rose to 179,600 in December, a 37,500 increase from 142,100 in December 2007, the state Department of Workforce Development reported today. That’s a 26.4 percent swing the past year.
http://www.postcrescent.com/article/20090129/APC03/90129094/1028
Boston Store cutting 100 area jobs : Boston Store’s corporate parent is looking toward a difficult year, but the struggling retailer’s decision to cut 1,150 jobs will help it adjust to changing economic realities, the company’s chief executive said. Bon-Ton Stores Inc., which is based in York, Pa., but has 700 corporate employees in downtown Milwaukee and 30 stores across Wisconsin, announced the job cuts Thursday.
http://www.jsonline.com/business/38608182.html
Strattec posts second-quarter loss: Strattec Security Corp. reported a fiscal second-quarter loss of $1.2 million and revealed that it cut 10 percent of its domestic salaried work force during the period. The Glendale-based automotive lock manufacturer had net income of $1.3 million for the fiscal second quarter of 2007, but reported a net loss for the most recent quarter, which ended Dec. 28, 2008, following a sharp decline in revenue.
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily67.html
Some Businesses See Boost Despite Economy
While most of the business world braces for the continuing economic downturn, there are some businesses in the area that said they’re doing better than usual. At Four Star Video Heaven in downtown Madison, rentals are up 30 percent compared to January numbers last year. … Another business that is going well is pizza company Papa Murphy’s. The company said its 2008 sales numbers increased 17 percent from 2007.
http://www.channel3000.com/money/18600495/detail.html
************************************************************
WISBUSINESS FEATURED COLUMNISTS
– GREGG HOFFMANN: Contributor, WisBusiness.com
– TOM STILL: President, Wisconsin Technology Council
– JENNIFER SERENO: Senior manager, Wood Communications Group
– STEVE JAGLER: Executive editor, Small Business Times
– TOM BURZINSKI: IT executive and consultant
************************************************************
TECHNOLOGY (back to top)
– Madison firm produces Super Bowl TV spot
http://www.madison.com/wsj/home/biz/435531
ECONOMY (back to top)
– Manitowoc Co. trimming 2,100 jobs in crane division
http://www.jsonline.com/business/38676722.html
– Oshkosh Corp. plans job cuts
http://www.postcrescent.com/article/20090129/APC03/301290057/1028
– City of Oshkosh remains below state unemployment rate
http://www.thenorthwestern.com/article/20090130/OSH03/901300427/1167
– Charter faces bankruptcy; Microsoft founder takes loss in investment in firm
http://www.madison.com/tct/business/435490
– No industry spared: More than 2,000 layoffs since start of 2009
http://www.bizjournals.com/milwaukee/stories/2009/02/02/story1.html?b=1233550800^1769652
MANUFACTURING (back to top)
– ITW reports 50% profit drop
http://www.postcrescent.com/article/20090130/APC03/901300524/1028
– First-quarter sales down 7% at Oshkosh
http://www.postcrescent.com/article/20090130/APC03/901300529/1028
– Jefferson Ethanol Plant Files for Chapter 11 Bankruptcy
http://www.wisconsinagconnection.com/story-state.php?Id=123&yr=2009
– Schlitz being brewed in Milwaukee again
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily64.html
LABOR (back to top)
– 61 workers at Wausaukee in Cuba City laid off temporarily
http://www.greenbaypressgazette.com/article/20090130/GPG03/901300632/1247
– Unemployment rates continue to climb
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily62.html
– Milwaukee-area jobless rate reaches record for December
http://www.jsonline.com/business/38612992.html
– Doyle signs unemployment measure
http://www.jsonline.com/news/statepolitics/38636592.html
SMALL BUSINESS (back to top)
– Co-owner of business plans ’28 Days on Munchies’
http://www.madison.com/wsj/home/biz/435537
INVESTING (back to top)
– Associated Banc-Corp to pay dividend
http://www.greenbaypressgazette.com/article/20090130/GPG03/901300633/1247
– Renaissance Learning takes impairment charge
http://www.madison.com/wsj/home/biz/435564
– Brunswick reports 4Q earnings loss
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily60.html
REAL ESTATE (back to top)
– Eaton seeks new site for R&D group
http://www.bizjournals.com/milwaukee/stories/2009/02/02/story3.html?b=1233550800^1769685
– Ruvin sues Palomar developer over failed condo/hotel plans
http://www.jsonline.com/business/38678652.html
RETAIL (back to top)
– Campus Street Sportswear buys Steve & Barry’s on State Street
http://www.madison.com/tct/business/435528
REGULATION (back to top)
– Delafield plan commission opposes 182-home subdivision
http://www.jsonline.com/news/38634112.html
UTILITIES (back to top)
– Texas college signs contract with Johnson Controls under climate initiative
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily58.html
– Wisconsin Energy to boost dividend by 25%
http://www.jsonline.com/business/38633457.html
HEALTH CARE (back to top)
– More relying on state health care programs
http://www.jsonline.com/news/statepolitics/38679047.html
MANAGEMENT (back to top)
– Eggen named senior VP for Dean Distributing
http://www.greenbaypressgazette.com/article/20090129/GPG03/901290630/1247
– Marcus reorganizes exec chef staff
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily61.html
Media Partners
—Channel3000
—Small Business Times
—Madison Magazine
—BusinessWeek
National Business Roundups ( back to top)
–YAHOO FINANCE: http://finance.yahoo.com/
–CNBC BUSINESS NEWS: http://www.cnbc.com
–ABC BUSINESS NEWS: http://abcnews.go.com/sections/business/
–GOOGLE NEWS: http://news.google.com/news/en/us/business.html
(c)2009 WisBusiness.com.
All rights reserved. Reproduction or retransmission of this publication, in whole or in part, without the express permission of WisBusiness.com is prohibited. Unauthorized reproduction violates United States copyright law (17 USC 101 et seq.), as does retransmission by facsimile or any other electronic means, including electronic mail.
