— Having the wrong investors may be a worse problem for an entrepreneur than having no investors. That bit of advice was among those a panel of experienced entrepreneurs shared with attendees of a panel discussion on avoiding “killer mistakes” at the Wisconsin Entrepreneurs’ Conference Tuesday in Milwaukee. The conference runs through today and includes a series of panel discussions and presentations aimed at helping entrepreneurs be successful. Tom Still, president of the Wisconsin Technology Council, which is sponsoring the event, said about 350 people pre-registered and there was a sizable number of walk-ups. He said that’s about the same as last year and that he was pleased with the turnout given a roughly 23 percent decline in attendance at conferences nationally. “Even is the new up,” quipped Still. Kelly Fitzsimmons, CEO of HarQen, told attendees it’s important to choose investors wisely, lest one trade a problem of having no money with one of having a bad investor. “It can actually tank a business because you as an entrepreneur may lose your passion,” Fitzsimmons said. She noted that it can be hard to walk away from an investor, “but there is such a thing as wrong money.” See more from the conference: http://www.wisbusiness.com/index.iml?Article=161197 — Water park developer Jack Waterman took out a full-page ad in the Wisconsin State Journal urging Doyle and Dem legislative leaders to take the joint and several liability provision out of the state budget. Billing himself as a lifelong Dem, Waterman writes in his “open letter” that the guv and the Dem caucus are forcing “an unpalatable non-fiscal item” into the budget that is “jeopardizing not only this budget bill, but the hopes of getting our economy back on track.” He writes in the ad that the provision will cause small businesses to lay off workers, force insurance companies to increase their rates and lead to “runaway inflation to Wisconsin residents because the people we do business with will have to raise their rates to cover his nonsense provision.” Waterman, who opened Noah’s Ark and later the Great Wolf Lodge, asks that the provision be pulled from the budget and be considered as separate legislation to “let its merits determine its future.” The last line in the ad says it was authorized and paid for by Waterman, “not his wife, not his kids, not any special interest group. I’d just like to bring some common sense back to the democrats, ‘the way it used to be’!” See a scan of the ad: http://www.wispolitics.com/1006/090609_WSJ_Waterman_ad.pdf — President Barack Obama has promised sweeping reforms to the federal government’s procurement process for later this year, but several recent reforms have already changed the regulatory landscape for businesses contracting with the federal government. Through a combination of new legislation, administrative rulemakings related to the American Recovery and Reinvestment Act of 2009, and several new Executive Orders, the federal government continues to impose new compliance burdens onto contractors. See a rundown of recent actions in a new BizOpinion piece from attorneys Adam C. Briggs, Daniel J. Finerty and Margaret R. Kurlinski: http://blogs.wisbusiness.com/bizopinion/2009/06/government-contracting-reforms-continue.html — The U.S. international trade in goods and services deficit in April increased 2.2 percent to $29.2 billion, according to a release from the federal Economics and Statistics Administration. Exports declined 2.3 percent to $121.1 billion and imports decreased 1.4 percent to $150.3 billion. TOP STORIES Gardner Denver to close Sheboygan plant: Gardner Denver plans to close its Thomas Products Division plant in Sheboygan this summer, leaving 22 workers without jobs. MeadWestvaco to lay off 65 in Kenosha: MeadWestvaco Corp. plans to lay off 65 workers at its consumer and office products group plant in Kenosha. Hampel to expand Germantown factory, add employees: L.T. Hampel Corp. is expanding its Germantown factory and hire as many as 10 employees following a deal to sell its portable restroom products business. Decision expected Thursday on ATC power line : The state Public Service Commission is expected to rule Thursday on American Transmission Co.’s proposal to erect a 345-kilovolt line from west of Middleton to eastern Dane County.
************************************************************ See commentary from around the state and columns from WisBusiness contributors Jennifer Sereno, Kevin McKinley, Tom Burzinski, Gregg Hoffmann, Tom Still and Steve Jagler: ************************************************************
ECONOMY (back to top) – 10 banks to repay $68 billion in government bailout money – La Crosse ranked among 10 ‘best places to live’
MANUFACTURING (back to top) – GM executives to meet with Wisconsin delegation
LABOR (back to top) – Demand high for nurses, engineers, trade workers – Junemann to run for national AFL-CIO post
SMALL BUSINESS (back to top) – Cravings restaurant in Menasha a dream for owners – Lakefront Brewery rolling out Wheat Monkey Ale – Dealer gets out of Dodge – Four state entrepreneurial firms win business plan contest
INVESTING (back to top)
REAL ESTATE (back to top) – Oak Creek apartments sell for $10.6 million
AGRIBUSINESS (back to top) – Midwest farmers protest livestock ID system
TRANSPORTATION (back to top) – Midwest Airlines dropping nonstop service to Toronto
RETAIL (back to top) – Menswear store Harleys moving to Lakewood Building
REGULATION (back to top)
FINANCIAL SERVICES (back to top)
MANAGEMENT (back to top) – The Rep names new managing director – Davis, Whitacre to serve on new GM board PRESS RELEASES (back to top) For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82 |
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