— Despite the rise of “serial violence” from drug cartels in Mexico, the sales director for a Madison-based dairy equipment company says his company is having a good year there. “In 1986 you could go anywhere in Mexico,” said Jorge Prieto, Bou-Matic’s Asian and Latin American sales director. Now farms have gates and security checkpoints with guards. Workers wear uniforms and IDs and owners change their driving routes regularly to prevent drug gangs from kidnapping them or their families. Some farmers even moved to the United States to keep their families safe,” making it difficult to contact them for business purposes. Bus despite those problems, Prieto told an international business seminar in Madison that “2009 has been a good year for Bou-Matic Mexico.” “As of May 2009, our Mexican operations were at 2008 levels, which was an excellent year for Bou-Matic. By March many new projects were put on hold. Milk prices in Mexico went down substantially,” Prieto said, adding the second half of 2009 will be more difficult, due to imports of inexpensive U.S. milk. While the serial violence remains a danger, attorney Miguel Noyola of Baker & McKenzie said Mexico has instituted several reforms to improve itself as a place to invest and do business. See more from the seminar: — Caroline Barry, who recently graduated from Middleton High School, is the grand prize winner in the first Dane County YES! youth business plan contest. The contest is produced by the Wisconsin Technology Council and funded by the Madison Community Foundation and other sponsors. Barry’s solar-powered water purifier for use in developing countries was the top plan among the many entries submitted to the web-based business plan contest. The plan has earned a $2,000 cash prize award. See details on the other finalists: http://www.wisbusiness.com/index.iml?Article=162038 TOP STORIES
Midwest, California front-runners for $8B in high-speed rail funds: High-speed rail plans in California and the Midwest appear to be front runners in the race for $8 billion in stimulus cash based on federal criteria released Wednesday that favor projects with established revenue sources and multistate cooperation. Chrysler to restart Kenosha engine plant: Chrysler Group LLC announced Wednesday that it will restart seven assembly plants by the end of the month, with production at its Kenosha engine plant to also begin operating again to supply those assembly sites. Ratings cut for regional banks: Standard & Poor’s Ratings Services on Wednesday cut the credit ratings of 22 regional bank holding companies, including Associated Banc-Corp and three others with offices in the Green Bay metro market. Midwest Airlines reports $25M quarterly loss: Midwest Air Group Inc. lost $25.4 million in the quarter ended March 31 as a result of intense competition and the ongoing recession.
************************************************************ 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) – Sikorsky Aerospace opens Milwaukee service center
ECONOMY (back to top)
MANUFACTURING (back to top) – Kenosha Chrysler plant faces 3-week ‘interview’
LABOR (back to top) – Sick leave supporters ask city to join appeal of ruling that struck down ordinance
INVESTING (back to top)
REAL ESTATE (back to top) – Dane County home sales still down from last year
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RETAIL (back to top)
REGULATION (back to top) – State Senate approves budget that drops oil company tax, eliminates capital gains break – Lang Holdings under siege with creditor suits
TOURISM (back to top)
UTILITIES (back to top) – Johnson Controls wins $12M Maryland contract
HEALTH CARE (back to top) – Wausau child’s swine flu death is state’s 4th – Report: Health care costs to rise 9 percent in 2010 – Poll: Many worried about paying for health care, fear losing coverage – Local executive to lead GE’s $6B health care initiative
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