— Madison economic development director Tim Cooley is the featured guest at today’s WisBusiness.com Luncheon, set for 11:45 a.m. at The Madison Club, 5 E. Wilson St., Madison. The event is open to the public, and the price for lunch is $19. Call the Madison Club to register at (608) 255-4861. See details: http://www.wisbusiness.com/index.iml?Article=156895 — Despite the threat of swine flu, investors are looking to keep the recent rally going. The Dow Jones Industrial Average went goes into today’s trading at a little above 8,212. That’s up about 136 points from last Monday’s open. State stocks as measured by the WisBusiness.com Stock Tracker’ went into today’s trading at about 1,428 after a slight gain Friday led by the stock of MGIC Investment, which gained 21 percent on the day. Still, this basket of state stocks is off about 13 percent from six months ago. How stocks finish up this week could have a lot to do with two important national announcements: On Thursday, results from so-called stress tests on major banks are to be released and on Friday come April unemployment numbers. Earnings are still coming in for big state corporations. First quarter earnings of Wisconsin Energy Corporation are due out Tuesday and Kohl’s releases its sales figures from April on Thursday. — Gov. Jim Doyle says the reported plan to close the Chrysler engine plant in Kenosha is “outrageous” and “unfair.” “This plan is contrary to what Chrysler has been telling us all along,” Doyle said Friday. “Now we find out through the news media that they may be shipping Wisconsin’s jobs to Mexico. This is outrageous. Wisconsin workers are willing to invest their hard earned tax dollars to help save Chrysler but it is unfair to ask those same workers to sacrifice their jobs to save a foreign plant making the exact same product.” Reports of the plant closing came the day after President Obama announced a Chrysler bankruptcy and partnership with Fiat he said would help save jobs. Rep. Robin Vos, R-Racine, said he wishes the company would reconsider given the history of the plant in the area, and the hard work local residents put in over generations to make the plant and Chrysler a success. “I won’t say that there haven’t been fears in southeast Wisconsin that this day would eventually come, and sadly it has,” he said. Vos, a member of the powerful Joint Finance Committee, said that the departure of Chrysler is “another indictment” of Doyle’s economic plan and “what he’s not doing to keep companies here and expanding in Wisconsin.” A list of Chrysler’s top 50 unsecured creditors filed as part of the bankruptcy declaration also includes $50 million owed to a Michigan branch of Johnson Controls Inc. See the filing: http://www.wispolitics.com/1006/090501chrysler.pdf TOP STORIES
Grede lays off 81 from Wauwatosa foundry: Grede Foundries Inc. told state officials this week that it has laid off 81 employees from its foundry in Wauwatosa since the end of January. Morgan to lay off 35 in Janesville : Morgan Corp., a manufacturer of dry freight and refrigerated truck bodies based in Morgantown, Pa., filed notice with the state Department of Workforce Development that it will lay off 35 employees by June 29 at its Janesville facility. UW tuition hike would generate $25M/year: The University of Wisconsin-Madison’s plan to increase tuition would allow the school to hire 235 faculty and staff. Chrysler to leave Kenosha: Attorneys for Chrysler LLC said the company will file a motion by this morning to sell substantially all of its assets to Italian automaker Fiat Group SpA, but that won’t include eight plants, including five that the automaker revealed it will shutter by the end of next year, including one in Kenosha.
************************************************************ 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)
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