— Both the Dow Jones Industrial Average and Wisconsin stocks as measured by the WisBusiness.com Stock Tracker start the week up from where they started a week ago. The Dow opened today at 8,500, more than 200 points higher than its opening of 8,277 last week. And the WisBusiness portfolio of 70 companies with substantial operations in Wisconsin opened at 1,459 — up more than 50 points from its starting point of 1,405 last week. Two manufacturing companies with Wisconsin ties have earnings releases slated for this week: Modine Manufacturing, maker of heating and cooling equipment, releases its quarterly earnings tomorrow and mining equipment manufacturer Joy Global releases its earnings on Wednesday. Also this week: Kohl’s announces its May sales figures on Thursday. See the WisBusiness Stock Tracker for details on state stocks: http://www.wisbusiness.com/index.iml?Article=140042 — GM filed for bankruptcy this morning and plans to use $30 billion in government assistance to help finance its restructuring effort. See a White House fact sheet for background on the adminstration’s plan for GM: http://www.wisbusiness.com/index.iml?Article=160204 — A vast majority of people in the world live within 10 miles of their food sources, but in the United States much of the food travels as far as 2,000 miles from the farm to the table. While that system allows Wisconsinites to eat relatively fresh fruits and vegetables in wintertime, it adds costs, has adverse environmental effects through transportation, raises questions about health and “food security” and takes money out of the local economy. As transportation costs increase, and other factors change, such a system looks unsustainable over the long run. So, groups around the state are in various stages of organizing and running community food systems. See more on Wisconsin’s local food options in a new GreenBiz column from Gregg Hoffmann: http://blogs.wisbusiness.com/bizopinion/2009/06/greenbiz-buying-local-food-helps.html — Eastbay has filed notice that it plans to close its Green Bay call center on July 31, resulting in 222 permanent layoffs. See the filing: http://www.wisbusiness.com/1008/090529eastbay.pdf ************************* WISBUSINESS.COM / WISPOLITICS.COM FORUM JUNE 10 — Planes, Trains, and Automobiles (and Ships): Shaping Southeastern Wisconsin’s Transportation Future — WEDNESDAY, June 10, 7:15 AM at Discovery World at Pier Wisconsin, Milwaukee Hear major decision-makers debate the future of passenger rail, highway expansion, the port of Milwaukee and Mitchell Field in light of stressed state and local budgets and commuters’ continuing search for the best way to get to work. Confirmed panelists include Milwaukee County Exec. Scott Walker, Milwaukee Mayor Tom Barrett; Rep. Cory Mason, D-Racine and a member of the Legislature’s Joint Finance Committee; and Rep. Jeff Stone, R-Greendale and a member of the Assembly Transportation Committee. Initial sponsors for the event include UW-Milwaukee, Wisconsin Urban & Rural Transit Association and HNTB. The event is open to the public, and the price is $30 per person. But WisPolitics.com and WisBusiness.com subscribers, the UW-Milwaukee community, and members of MMAC and Discovery World will be able to attend for $20 per person. The price includes the breakfast buffet but not parking. Call Debra Jordan (414) 287-4127 or e-mail djordan@mmac.org to register. Online registration is also available: http://mmac.org/display/router.asp?docid=488&event=1227&startDate=06/10/09 Additional sponsorships are available as well. For sponsorship information, contact Jim Greer at 608-237-6296 or webmaster@wisbusiness.com ************************* TOP STORIES Anchor gets one-year extension on U.S. Bank debt : Anchor BanCorp Wisconsin has been granted a year’s extension on its $116.3 million loan from U.S. Bank, which was due in full on Friday. Payday Lending Act would limit loan rates: The chairman of the State Assembly committee on consumer protection has introduced the Payday Lending Consumer Protection Act, which supporters said will provide Wisconsin consumers protections against predatory lending by limiting interest rates for consumer loans to 36 percent annually.
************************************************************ See commentary from around the state and columns from WisBusiness contributors Jennifer Sereno, Kevin McKinley, Tom Burzinski, Gregg Hoffmann, Tom Still and Steve Jagler: ************************************************************
BIOTECH (back to top) – Energy executive plans six biofuel stations
ECONOMY (back to top)
MANUFACTURING (back to top) – Bill would require manufacturers to recycle electronics – East Troy company’s engines provide power and heat – Pain of GM bankruptcy would be felt in Wisconsin
LABOR (back to top) – Public employers modifying health benefits
SMALL BUSINESS (back to top)
INVESTING (back to top)
REAL ESTATE (back to top) – Aurora sells two more medical buildings to raise cash
AGRIBUSINESS (back to top) – Family at the forefront of Wrightstown dairy – Cross Country: Kellercrest Holsteins not your average dairy farm
TRANSPORTATION (back to top) – Frontier adds a fourth flight from Milwaukee to Denver
RETAIL (back to top)
REGULATION (back to top)
TOURISM (back to top) – Taxpayer money used as lure for conventions
FINANCIAL SERVICES (back to top) – Two Catholic Knights’ ratings downgraded – Virchow Krause will be known as Baker Tilly – Cassville bank must fix policies MANAGEMENT (back to top)
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