(WisBusiness) THURS News Summary — 5 Mar. 2009

From WisBusiness.com …

— In the new edition of the Federal Reserve’s Beige Book, the Fed’s assessment of U.S. economic activity remains bearish, and the Chicago branch said “the expectation of most contacts was for economic activity to remain weak into late 2009 before slowly beginning to recover in 2010.”

Across several economic sectors, reports from finance, industrial manufacturing, tourism, housing, and agriculture show lower prices for commodities, easing pressure on consumers, and slight increases in wages in the Midwest. “Agriculture producers benefited from declining input prices on net, but these were not large enough to offset slower sales and lower product prices, which put downward pressure on profit margins and land values,” according to the Chicago Fed Branch. Spring planting is still an open question, “though shifts toward soybeans and away from corn are likely to occur,” according to the report.

The Chicago Fed reported auto dealers reported increases in used car sales and continued gains in auto services, despite depressed new car sales. Unemployment continued its rise in the region, but many employers decreased hours in order to retain employees, protecting trained staff once the upturn arrives. “Hiring activity remained low, outside of lower-end retail companies, healthcare, environmental related businesses and highly skilled professionals in financial services and information technology,” according to the report.

See more soon at http://www.wisbusiness.com

— American Express announced a permanent layoff of 72 workers at the Amex Assurance office in Ashwaubenon. The layoff is scheduled to take place between May 8 and Sept. 1.

See the state filing: http://www.wisbusiness.com/1008/090304amex.pdf

— The Wisconsin Bio Industry Alliance has announced partnerships with three of the nation’s largest biofuel organizations the American Coalition for Ethanol, Growth Energy, and the Renewable Fuels Association.

“Our members made the strategic decision to take a more active role in the national discussion about the future of bio fuel,” said Joshua Morby, executive director of the WBIA.

See more: http://www.wisbusiness.com/index.iml?Article=151073

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HOW THE FEDERAL STIMULUS AFFECTS WISCONSIN, WITH GARY WOLTER

Thursday, MARCH 12, 2009

11:45 a.m. at the Madison Club

Gary Wolter is serving as head of the Wisconsin Office of Recovery and Reinvestment.  He is also chairman, president and CEO of Madison Gas and Electric. 

The 2009 luncheon series is sponsored by The Wisconsin Bankers Association, The Ho Chunk Nation, WHD Government Affairs, Flaherty & Associates, Wal-Mart and Xcel Energy.

The event is open to the public, and the price for lunch is $15 for WisPolitics.com subscribers and Madison Club members, $19 for the general public. Call the Madison Club to register at (608) 255-4861. The luncheons start at 11:45 a.m. and ends at 1 p.m.

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THANKS TO OUR WISBUSINESS SPONSORS

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QUICK LINKS
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Press Releases
· Dairy Business Association: Farmers Union not held to environmental standards of CAFOs
· Dept. of Revenue: Wisconsin citizens filing early, electronically
· K-Sun Corp.: Receives SCEDC business award
· Knupp & Watson: Receives Best of Show
· LaBreche: Announces marketing stimulus package
· MMAC: Get connected to MMAC March events
· Office of the Commissioner of Insurance: February 2009 administrative actions
· Shakespeare Wealth Management Inc.: Reardon offers top 10 financial tips — Tip # 6: When life gives you lemons, make lemonade
· TDS Telecom: Praises President Obama’s nomination to the Federal Communications Commission
· THE Right Side of Wisconsin: Has been relaunched as THE Right Side of Wisconsin Blog Network
· UW-Stevens Point: UWSP to host 5th annual nowHERE Design Conference
· Wisconsin Bio Industry Alliance: Partners with national organizations
· Wisconsin Counties Association: Federal stimulus package and transportation
· Wisconsin Farmers Union: Testifies on Working Lands Initiative

For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82


TOP STORIES
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Treasury launches program to prevent foreclosure: As many as 9 million borrowers might be able to stay in their homes under a loan modification program launched Wednesday by the Obama administration.
http://www.bizjournals.com/milwaukee/stories/2009/03/02/daily51.html

Olsen’s Mill to be sold at auction: Aiming for “minimized chaos,” Green Lake County Circuit Court Judge William McMonigal approved a temporary restraining order against former Olsen’s Mill Inc. executive Paul Olsen and directed the appointed receiver to sell the grain buyer and seller as a whole.
http://www.thenorthwestern.com/article/20090305/OSH03/903050360/1167

Amex Assurance to cut 72 jobs: The company notified the state Department of Workforce Development that the jobs will be eliminated between May 8 and Sept. 1. It said the terminations are permanent.
http://www.greenbaypressgazette.com/article/20090305/GPG03/903050605/1247

Joy Global profits rise, but orders drop: Joy Global Inc. reported increased income for the fiscal first quarter, driven by strong profitability in both its underground and surface mining equipment businesses, but saw bookings drop and warned of a future scaling back of production.
http://www.bizjournals.com/milwaukee/stories/2009/03/02/daily45.html

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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
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TECHNOLOGY (back to top)
– SGI layoffs include 18 locally
http://www.leadertelegram.com/story-news.asp?id=BJC5DC48IoH

– Solar incentive quickens payback
http://www.jsonline.com/business/40757437.html

ECONOMY (back to top)
– MillerCoors: Venture hinges on Lite
http://www.greenbaypressgazette.com/article/20090305/GPG03/903050603/1247

MANUFACTURING (back to top)
– Neenah Paper to give report on finances
http://www.postcrescent.com/article/20090305/APC03/903050488/1028

– R.R. Donnelley lands another huge order
http://www.postcrescent.com/article/20090305/APC03/903050462/1028

– Cruisers Yachts gets a boost
http://www.greenbaypressgazette.com/article/20090305/GPG03/903050600/1247

– Wisconsin Cheese Originals promotes specialty cheesemakers
http://www.madison.com/wsj/home/biz/441617

SMALL BUSINESS (back to top)
– Racine firm produces Galileoscope to promote astronomy
http://www.jsonline.com/business/40719872.html

INVESTING (back to top)
– MGIC says it may sell securities
http://www.bizjournals.com/milwaukee/stories/2009/03/02/daily54.html

– U.S. Bancorp chops dividend by 88%
http://www.bizjournals.com/milwaukee/stories/2009/03/02/daily46.html

REAL ESTATE (back to top)
– Condo project co-owned by embattled ex-mortgage executive faces foreclosure
http://www.jsonline.com/business/40756442.html

– 2 more sue to cancel purchases in Park Lafayette condo development
http://www.jsonline.com/business/40756502.html

AGRIBUSINESS (back to top)
– Marron Foods Recalls Instant Non Fat Dry Milk Boxes
http://www.wisconsinagconnection.com/story-state.php?Id=279&yr=2009

RETAIL (back to top)
– Sun Prairie Target plans grand opening Sunday
http://www.madison.com/wsj/home/biz/441572

– Kohl’s take risk with Britney as Candie’s sponsor
http://www.jsonline.com/business/40756452.html

TOURISM (back to top)
– Waterpark industry conference on surviving the economy canceled – due to the economy
http://www.madison.com/wsj/home/biz/441574

– Sports Show exhibitors feel economy will keep sportsmen closer to home
http://www.jsonline.com/sports/outdoors/40761377.html

HEALTH CARE (back to top)
– Health center in Howard adding services
http://www.greenbaypressgazette.com/article/20090305/GPG03/903050597/1247

FINANCIAL SERVICES (back to top)
– Secura Insurance ties policy sales to breast cancer research
http://www.postcrescent.com/article/20090305/APC03/903050461/1028

MANAGEMENT (back to top)
– Kimberly-Clark CEO received $8.9M in 2008
http://www.greenbaypressgazette.com/article/20090305/GPG03/903050604/1247

– Actuant cuts executive pay, suspends 401(k) contributions
http://www.jsonline.com/business/40751887.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

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