— For the second quarter ended June 30, Great Wolf Resorts reported a net loss of $5.7 million, or 18 cents per diluted share, compared to a net loss of $4.1 million, or 13 cents per diluted share for the same period a year earlier. “Our new and expanded resorts performed well, despite the ongoing challenging economy,” said Kim Schaefer, chief executive officer. “Additionally, our repeat and referral guest business increased, along with the average length of stay. This performance underscores the appeal of our resorts in challenging economic cycles as more guests stay at our resorts for their primary vacations.” Schaefer added: “Looking ahead, we expect the operating environment to remain difficult. However, we believe our resorts will continue to outperform the broader hotel industry for the remainder of 2009.” See the Great Wolf release: http://www.businesswire.com/news/home/20090804005313/en — The Wisconsin Safety Council is hosting a conference on employee wellness to share best practices with employers. The conference will also focus on the latest updates to the Worker’s Compensation Law and the Federal Medical Leave Act. This seventh annual conference will be held at Waukesha County Technical College in Pewaukee today and tomorrow. See details: http://wmc.informz.net/wmc/archives/archive_384030.html — A survey from Marquette University and The QTI Group finds companies are concerned that budget cuts are taking a toll on employee engagement and recruiting efforts. “Many firms are concerned with the impact of pay and staffing cuts on the morale and effectiveness of the workforce,” said Marshall Heyworth, chief operating officer of QTI Consulting. “So they are trying to simultaneously enhance firm effectiveness and manage through very uncertain labor markets.” The survey of 74 companies in the seven-county Milwaukee area found that travel, employee training, educational reimbursement, and charitable contributions have all been cut significantly this year. “Combined with other pulse surveys we’ve conducted recently, it seems like many organizations are looking beyond the crisis mode we saw earlier in the year to position themselves for the economic recovery,” Heyworth said. See more on the survey: http://www.wisbusiness.com/index.iml?Article=166201 — Madison’s Central Business Improvement District will continue for another five years (2010-2014), based on results of a property owner vote certified by the Madison City Clerk’s Office. A Business Improvement District is a public/private economic development entity, authorized by state statute, which enables commercial property owners in a defined area to establish a special assessment, used to promote and enhance the district. Madison’s Central BID was established in 1999, and encompasses the greater State Street and Capitol Square area. See more: http://www.wisbusiness.com/index.iml?Article=166170 — A UW-Madison team has developed a new technique to increase fuel efficiency in diesel engines. The method blends standard gasoline and diesel fuel to decrease engine temperatures, lower emissions and increase gas mileage. Tests show the result could be an engine that’s noticeably more efficient than even the best performing diesel engine currently in production. If all U.S. cars and trucks could achieve the new fuel-efficiency levels, UW researcher Rolf Reitz says it would cut U.S. oil use by 4 million barrels of oil a day. See details: http://www.wisbusiness.com/index.iml?Article=166169 TOP STORIES Saputo to close Fond du Lac cheese plant: Saputo Cheese USA Inc. plans to close its plant in Fond du Lac by the end of the year, leaving 39 employees without jobs. Amcore gets waiver from lender : Amcore Financial of Rockford, Ill., parent company of Amcore Bank, said Monday it received a waiver from its lender, JP Morgan Chase, concerning the previously disclosed technical default under its credit facility. EAA says attendance up 12 percent this year: Attendance at the AirVenture 2009 convention increased 12 percent over last year, a figure officials at the Experimental Aircraft Association attribute to a popular line-up of aircraft and $4 million in grounds improvements.
************************************************************ 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) – Concordia installing solar power system
ECONOMY (back to top)
MANUFACTURING (back to top) – Morgan Aircraft finalizes 50-year lease plan – MillerCoors’ profits soar – Oshkosh contract creates hundreds of jobs
LABOR (back to top) – Mercury, union workers meet – University of Wisconsin System, union clash over access to staff – Minority construction firm formed
INVESTING (back to top)
REAL ESTATE (back to top) – Philanthropist Cudahy acquires Pieces of Eight lease – Area foreclosures reached record level in July
AGRIBUSINESS (back to top) – Reedsburg company starts line of whey protein products
TOURISM (back to top) – Six Flags posts deep Q2 loss – Fair park selects possible new track promoter – Milwaukee tourism chief Neilson to leave post Friday
HEALTH CARE (back to top)
FINANCIAL SERVICES (back to top) – UW Credit Union plans to buy bank building in Wauwatosa – MGIC alters insurance plan
MANAGEMENT (back to top)
BUSINESS COLUMNS (back to top) PRESS RELEASES (back to top) For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82 |
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