(WisBusiness) TUES News Summary — 20 Jan. 2009

From WisBusiness.com …

— Modine Manufacturing Company has announced the layoff of approximately 170 employees and contractors from its Racine headquarters. This represents approximately 25 percent of the workforce in Racine and crosses all levels of the organization.

See the Modine press release:

http://www.businesswire.com/news/home/20090119005495/en

— Oconomowoc-based Paragon Development Systems Inc. announced that it has acquired Provident Technologies Inc.

The Sheboygan-based Provident Technologies has engineering and sales divisions in Sheboygan, Madison and Milwaukee. The company is also an authorized sales and service repair facility for Hewlett Packard and Samsung printers, HP workstations, laptops and tablet PCs.

All Provident staff will be joining PDS as part of the acquisition, including COO Angela Daniels, who will head PDS’s provisioning and platform management software services as a director in the computing architecture group. As part of the transition, PDS will maintain an office in the Sheboygan area indefinitely.

See the PDS release for more:

http://www.wisbusiness.com/index.iml?Article=146181

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REGISTER NOW: Focus on Midwest Energy II conference set for Feb. 23 in Madison

— Agenda includes U.S. Rep. Baldwin, Obama environmental adviser Learner as keynoters —

U.S. Rep. Tammy Baldwin, D-Madison, and Howard Learner, a senior energy and environmental adviser for Barack Obama’s presidential campaign, will highlight a “Focus on Midwest Energy” conference on Monday, Feb. 23 at Madison’s Monona Terrace. 

The half-day event in Madison will assemble key business, government and research representatives to explore energy issues in light of the changing political landscape in Madison and Washington, D.C., and look ahead to the future of Midwest energy policy. This is the second annual energy event organized by WisPolitics.com and WisBusiness.com .

Details and registration info:

http://www.wisbusiness.com/index.iml?Article=145732

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Press Releases
· AT&T Wisconsin: Joins “Share our Strength” in the fights against childhood hunger in Milwaukee and Waukesha
· Equitable Reserve Association: Receives highest membership standards from national association
· Paragon Development Systems, Inc.: PDS acquires Provident Technologies
· WEA: Moody named president of WEA Trust

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


TOP STORIES
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Modine cutting 25 percent of Racine work force: Modine Manufacturing Co. said Monday that it is cutting its work force at its Racine headquarters by 25 percent, or about 170 jobs. In Europe, the thermal management products company has begun the process of significantly reducing the work force in its Bonlanden, Germany-based European headquarters and TechCenter. The actions are part of Modine’s restructuring program focused on reducing selling, general and administrative costs and other steps to restore profitability to its global operations, which have been severely impacted by the current worldwide economic crisis.
http://www.bizjournals.com/milwaukee/stories/2009/01/19/daily8.html

Kohler Co. lays off 188 more employees : Kohler Company has laid off 188 more employees in the fourth round of job cuts since October. Company spokeswoman Kristine Cristina said Monday the affected workers were let go Friday and were part of the company’s global power group and corporate operations. The layoffs included 112 production employees and 76 administrative workers.
http://hosted.ap.org/dynamic/stories/W/WI_KOHLER_LAYOFFS_WIOL-?SITE=WIMAD&SECTION=HOME&TEMPLATE=DEFAULT

Wheaton adds to system layoffs: By the end of January, Wheaton Franciscan Health Care will eliminate approximately 100 more positions, bringing the total number of layoffs at the hospital system to 250 since September, officials said Monday. Physicians and associates of the Glendale-based system received a letter Jan. 13 informing them of the additional cuts, said Anne Ballentine, Wheaton spokeswoman.
http://www.bizjournals.com/milwaukee/stories/2009/01/19/daily14.html

Wisconsin unemployment rates remain below national average: Dennis Winters, chief of the state’s Office of Economic Advisors, said the economic recession seems to be an equal opportunity destroyer destined to affect most segments of the economy. Unlike the direct hit the state’s manufacturing sector took in the early 2000s, Winters expects this recession to ripple through most segments. “What’s a little different about this economy is the recession is pretty broad. Just about everything across the board has been hit,” Winters said. “Other than growth in energy producing states, the only sector that’s showing any growth is the health care and private education sector.”
http://www.thenorthwestern.com/article/20090118/OSH03/901180390/1167

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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)
– Consumer Reports readers rate Verizon, AT&T best, Charter worst
http://www.madison.com/tct/business/433516

– AWR acquires Mequon firm
http://www.bizjournals.com/milwaukee/stories/2009/01/19/daily4.html

– Paragon buys Provident Technologies
http://www.bizjournals.com/milwaukee/stories/2009/01/19/daily6.html

– Paragon Development Systems acquires Sheboygan firm
http://www.jsonline.com/business/37824029.html

ECONOMY (back to top)
– The Washington Post: The growing foreclosure crisis
http://www.madison.com/tct/business/433341

– Temporary layoffs reach 17-year high nationwide
http://www.postcrescent.com/article/20090120/APC03/901200461/1028

MANUFACTURING (back to top)
– Improvements ahead for Bay Shipbuilding
http://www.greenbaypressgazette.com/article/20090118/GPG03/90118014/1247

– Allen Edmonds unsure if Obama will wear its shoes
http://www.bizjournals.com/milwaukee/stories/2009/01/19/daily7.html

– State firms participate in Obama inauguration
http://www.jsonline.com/business/37826579.html

– Rexnord buys another water-engineering firm
http://www.jsonline.com/business/37853844.html

LABOR (back to top)
– Historic inauguration trumps work at some companies
http://www.madison.com/wsj/topstories/433572

– Capital Newspapers cuts staff
http://www.madison.com/wsj/home/biz/433574

SMALL BUSINESS (back to top)
– Career profile: Business grows into full-blown spa
http://www.greenbaypressgazette.com/article/20090119/GPG03/901190482/1247

INVESTING (back to top)
– Bemis Co. will report its earnings Jan. 27
http://www.postcrescent.com/article/20090120/APC03/901200463/1028

AGRIBUSINESS (back to top)
– Bruins: Farmers Still Benefiting from Use Value Tax Law
http://www.wisconsinagconnection.com/story-state.php?Id=74&yr=2009

RETAIL (back to top)
– Madison Pick’n Save will convert to Copps name
http://www.madison.com/wsj/home/biz/433538

– Calling it quits: Wayne and Audrey Yapp are closing their Mount Horeb antiques store after 27 years
http://www.madison.com/wsj/home/biz/433198

TOURISM (back to top)
– North Star Casino unveils expansion
http://www.wausaudailyherald.com/article/20090118/WDH03/901180393/1618

– Brewers sell 1 million tickets in record time
http://www.bizjournals.com/milwaukee/stories/2009/01/19/daily13.html

UTILITIES (back to top)
– Zilber Ltd. strikes natural gas in Texas
http://www.bizjournals.com/milwaukee/stories/2009/01/19/daily9.html

– Alliant unit completes Michigan wind farm
http://www.bizjournals.com/milwaukee/stories/2009/01/19/daily5.html

HEALTH CARE (back to top)
– Merged banks have a new name: Westbury
http://www.jsonline.com/business/37833919.html

FINANCIAL SERVICES (back to top)
– Survey of state bankers finds pessimism
http://www.jsonline.com/business/37853829.html

– State venture capital funds raised no money in 2008
http://www.jsonline.com/business/37826259.html

Media Partners
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—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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