From WisBusiness.com …
— Wisconsin’s financial institutions aren’t stressed like those that participated in the subprime mess, but they’re affected nonetheless by a troubled economy and consumers that can’t pay their loans.
Still, Wisconsin banks and credit unions are safe, strong and ready to lend. That’s the assessment of a top state regulator — Michael Mach, of the Wisconsin Department of Financial Institutions.
Mach told a state Senate committee in Wauwatosa Tuesday that state financial institutions generally have strong capital reserves despite increased delinquencies and smaller interest rate margins on loans. He also predicted that this year would be a tough one and that conditions could limit lending.
Wisconsin Bankers Association President Kurt Bauer said the fourth quarter for banks — in his words — “may be the worst that we’ve seen in quite some time in Wisconsin.” But Bauer noted that low earnings are reflective of the broader economy and don’t mean that banks lent irresponsibly or are about to collapse. He also said deposits are increasing as people flee the stock market, helping banks capture market share for both deposits and loans.
Read more from the committee hearing: http://www.wisbusiness.com/index.iml?Article=147019
— Henschue Construction of Madison announced its closure effective March 30. The company filed for receivership under Chapter 128 in Dane County Circuit Court. Approximately 66 workers may be impacted.
— JL French provided the state with an update regarding layoffs at two Sheboygan facilities. The update added 40 additional workers to be laid off, on top of the 297 announced previously.
— Judge Thomas Cooper is scheduled to hear the Metropolitan Milwaukee Association of Commerce’s injunction request regarding Milwaukee’s sick leave law on on Feb. 6 at 10:30 a.m.
— The Department of Commerce is seeking nominations for the 2009 Governor’s Export Achievement Awards.
Nominations will be evaluated for innovation, effectiveness, and special effort in growing exports and enhancing employment, the economy, and the international prestige of Wisconsin. Nominations can be made by an employee of the firm or organization, or by a knowledgeable person from outside the organization.
The nomination deadline is 4:30 p.m. on April 10.
See details: http://wispolitics.com/index.iml?Article=146927
— The Wisconsin Governor’s Business Plan Contest is accepting entries online for the 2008 competition through the end of this week. To enter, contestants can submit 250 Word IDEA Abstract now through 5 p.m. Jan. 31, 2009. The contest’s Grand Prize is worth $50,000 in cash and services.
The contest is free to enter at http://www.govsbizplancontest.com.
Read a new Tom Still column about the contest: http://www.wisconsintechnologycouncil.com/newsroom/inside-wi/?Id=691
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The Madison Club, 5 E. Wilson St., Madison.
The next WisBusiness.com Luncheon at the Madison Club, organized by the Madison Club, Madison Magazine, and WisBusiness.com, is slated for Monday Feb. 2 at 11:45 a.m.. The guest is Kevin Conroy of Third Wave Technologies. To learn more about Kevin Conroy and Third Wave Technologies visit: http://www.twt.com
The event is open to the public, and the price for lunch is $19. Call the Madison Club to register at (608) 255-4861. The luncheon starts at 11:45 a.m. and ends at 1 p.m.
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Press Releases
· Community Advocates Public Policy Institute: U.S. job shortage reaches record level of 7 million
· Dept. of Commerce: Nominations sought for 2009 Governor’s Export Achievement Awards
· Dept. of Revenue: Free tax preparation assistance available
· Wisconsin Credit Union League: More consumers are discovering credit unions during tough economic times
· Wisconsin Ethanol Coalition: Tuesday Truth #26: New study shows even lower greenhouse gas emissions from ethanol
For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82
TOP STORIES
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HTI adds 100 to cuts: The Hutchinson, Minn.-based company announced 100 layoffs in Eau Claire earlier in January and another 100 in its earnings report Tuesday. After the layoffs, HTI will have about 1,150 employees in Eau Claire. The layoffs are effective immediately.
http://www.leadertelegram.com/story-news.asp?id=BJ1ETEQVI2D
Madison’s Henshue Construction to lay off 66: Third-generation family business Henshue Construction, Inc. is the latest local casualty of the economic downturn. Henshue will lay off approximately 66 employees and permanently close its facility at 313 W. Beltline Highway on March 30, the Department of Workforce Development announced Tuesday.
http://www.madison.com/tct/business/435136
State lawmakers focus on unemployment with State of the State today: Lawmakers took emergency action to deal with growing unemployment and keep tax dollars in Wisconsin on Tuesday, the day before Gov. Jim Doyle is expected to deliver a sober assessment of the state’s economy. The State of the State address today comes as the state deals with 5.8 percent unemployment, the highest since 1986, and a budget shortfall projected to reach $5.4 billion by mid-2011.
http://www.greenbaypressgazette.com/article/20090128/GPG0101/901280690/1978
Oshkosh awarded $132M contract: Oshkosh Corp.’s defense division has received a $132 million order from the U.S. Army to provide 1,700 kits of additional armor on the new generation of heavy expanded mobility tactical trucks. The B kits will enable soldiers in the field to beef up the company’s HEMTT A4 trucks in Middle Eastern combat zones. The add-on kits are distinct and separate from integral A-kit armor that’s standard equipment. The HEMTT A4 trucks will be upgraded under a $1.2 billion, three-year contract awarded Oct. 31.
http://www.postcrescent.com/article/20090128/APC03/901280508/1028
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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)
– Blogs can draw customers deeper into businesses
http://www.jsonline.com/business/38514339.html
ECONOMY (back to top)
– Business Beat: A ‘generational’ shift in the economy
http://www.madison.com/tct/business/435053
– Business Watch magazine to end publication
http://www.madison.com/wsj/home/biz/435064
– Conference Board: Consumer confidence at all-time low
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily31.html
– UW Foundation endowment gained 5.5%
http://www.jsonline.com/business/38446099.html
MANUFACTURING (back to top)
– Firm makes ‘Terrible Towels’ for Steelers fans
http://hosted.ap.org/dynamic/stories/W/WI_TERRIBLE_TOWELS_WIOL-?SITE=WIMAD&SECTION=HOME&TEMPLATE=DEFAULT
– MillerCoors moves regional HQ to KC from St. Louis
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily28.html
LABOR (back to top)
– Injunction hearing on mandatory sick leave scheduled for Feb. 6
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily32.html
– Arbitrator rules against Midwest Airlines flight attendants
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily25.html
– State’s unemployment insurance reserve is drying up
http://www.jsonline.com/business/38455484.html
– Panel opens door to federal funding of jobless benefits
http://www.jsonline.com/news/wisconsin/38456764.html
SMALL BUSINESS (back to top)
– It’s a case of tradition for Manitowoc sausage maker
http://www.greenbaypressgazette.com/article/20090128/GPG03/901280684/1247
– Pewaukee winery joins growing number in state
http://www.jsonline.com/business/38514354.html
– Skipper Bud’s buys assts of bankrupt boat firm Heckel’s
http://www.jsonline.com/business/38512439.html
INVESTING (back to top)
– Neenah Paper reports quarterly dividend
http://www.postcrescent.com/article/20090128/APC03/901280505/1028
– Stark Investments to buy nearly all of Deephaven assets
http://www.jsonline.com/business/38495824.html
REAL ESTATE (back to top)
– Dark forecast for real estate
http://www.postcrescent.com/article/20090128/APC03/901280523/1028
– City seeks $10 million from state to deal with foreclosures
http://www.jsonline.com/news/milwaukee/38490424.html
AGRIBUSINESS (back to top)
– Sen. Kohl Proposes Nutrition, Rural Projects in Stimulus Bill
http://www.wisconsinagconnection.com/story-state.php?Id=110&yr=2009
TRANSPORTATION (back to top)
– Airlines see need for airfare discounts to fill seats
http://www.bizjournals.com/milwaukee/stories/2009/01/26/story9.html?b=1232946000^1766836
– Innovation Fuels forms joint venture
http://www.bizjournals.com/milwaukee/stories/2009/01/26/daily27.html
– Trucking companies take deep hit in recession
http://www.jsonline.com/business/38510009.html
RETAIL (back to top)
– Sales falloff means buyers market for car shoppers
http://www.thenorthwestern.com/article/20090128/OSH03/901280420/1167
– Culver’s to offer healthier fare
http://www.madison.com/wsj/home/biz/435127
– Schwartz closing lamented by local stores
http://www.bizjournals.com/milwaukee/stories/2009/01/26/story8.html?b=1232946000^1766829
REGULATION (back to top)
– Plan would limit bars in downtown Green Bay
http://www.greenbaypressgazette.com/article/20090128/GPG0101/901280719/1978
UTILITIES (back to top)
– Recession threatens wind power, industry group says
http://www.jsonline.com/business/38493439.html
FINANCIAL SERVICES (back to top)
– Wisconsin banks continue to lend, industry leaders tell state Senate
http://www.jsonline.com/business/38509999.html
MANAGEMENT (back to top)
– Knupp to be honored by Madison ad group
http://www.madison.com/wsj/home/biz/435067
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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