From WisBusiness.com …
— The nation’s stock market is already in recovery and gross domestic product should begin to recover in mid-2009, according to University of Wisconsin-Madison Business School Dean Michael Knetter.
High unemployment, however, will linger through the year, he predicted.
Knetter told Milwaukee Rotarians during their weekly luncheon on Tuesday that the change in the presidential administration is part of the reason for the market’s rebound.
“What we needed was a change of administration, a sense for the new team in charge and policy being developed to deal with the situation,” Knetter said.
He noted that Dem Barack Obama’s new administration does not have to deal with the day-to-day governance and has been able to focus on developing a plan to deal with the economic situation.
“Obama’s made great choices to go beyond his initial inner circle to bring in the very best people, and I’m sure they’ll have a good plan,” Knetter said. “And that has reduced uncertainty in the market.”
See more from Knetter’s speech: http://wisbusiness.com/index.iml?Article=144894
— In her 15 years as a member of Competitive Wisconsin Inc., Sue Marks has seen more than a few economic ups and downs on the local, national and international scenes.
Now that the state is in another recession, Marks – who became president of the broad-based group in December – said she hopes this “dip” is shallow and that the state recovers quickly. She also stressed that the state should not cut back its investment in education, which she sees as key to long-term growth.
Marks succeeded Tom O’Neill, a senior vice president at Marshall & Ilsley Corp.
Marks said Competitive Wisconsin’s mission is to promote public policy that creates a competitive economic climate favorable to high-paying jobs and higher per-capita income for Wisconsin residents.
See more from Marks in a new WisBusiness interview: http://wisbusiness.com/index.iml?Article=144856
— The Metropolitan Milwaukee Association of Commerce says economic indicators for the metro Milwaukee area improved modestly in November after hitting a record low in October. Three of 20 indicators tracked by MMAC improved in November, compared to the two indicators that showed improvement the month before.
But the area also saw a dramatic rise in unemployment for the month.
“Metro Milwaukee’s unemployment rate took a sharp turn upward in November, rising 0.8 percentage points from one year ago,” said Bret Mayborne, economic research director for the MMAC. “Prior to November the local unemployment rate was relatively stable, but in coming months the unemployment situation for the Milwaukee area is likely to deteriorate.”
Compared to November 2007, seven of 10 major job sectors saw declines while three saw improvements. The biggest decline — 6.8 percent — came in the construction, mining & natural resources sector while the biggest improvement — 1.6 percent — came in the educational & health services sector.
See the MMAC economic trends report for more: http://wisbusiness.com/1008/090106MMACnov.pdf
— The Wisconsin Farm Bureau Federation says the state saw a slight dip in the price of its 20-item “market basket” in the fourth quarter of 2008.
The organization tracks the retail price of 20 food items in 26 communities and the survey found the average cost of those 20 items in the fourth quarter of 2008 was $57.91, $1.11 less than the overall average of $59.02 in the third quarter of 2008. The price drop was the first one in 2008.
See more: http://wisbusiness.com/index.iml?Article=144899
— The Marcus Corp. announced that its board of directors has elected company president Gregory Marcus, 44, as chief executive officer of the firm. His father, Stephen Marcus, 73, will continue to serve as chairman.
See more from BizTimes Milwaukee: http://www.biztimes.com/daily/2009/1/6/#gregory-marcus-succeeds-father-at-helm-of-company
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· Wisconsin Farm Bureau Federation: Fourth quarter 2008, retail food prices decrease nearly 2%
For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82
TOP STORIES
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U.S.: Milwaukee loses 12,400 jobs in November: The Milwaukee-area labor market lost 12,400 jobs between November 2007 and November 2008, according to employment figures released Tuesday by the U.S. Bureau of Labor Statistics.
http://www.bizjournals.com/milwaukee/stories/2009/01/05/daily21.html
MMAC: Milwaukee economy continues decline: “Metro Milwaukee’s unemployment rate took a sharp turn upward in November, rising 0.8 percentage points from one year ago,” said Bret Mayborne, economic research director for the MMAC. “Prior to November the local unemployment rate was relatively stable, but in coming months the unemployment situation for the Milwaukee area is likely to deteriorate.”
http://www.bizjournals.com/milwaukee/stories/2009/01/05/daily25.html
Wolf Appliance lays off 79 hourly employees : Wolf Appliance has put 79 hourly employees on temporary, indefinite layoff since Monday. Chuck Verri, vice president of human resources for Sub-Zero Freezer/Wolf Appliance, said the layoff does not signal a major change. “We meet on a monthly basis and will adjust production in our various product lines,” he said. “In some cases, that means hiring folks; in some cases, temporary layoffs.”
http://www.madison.com/wsj/home/biz/431134
Kaplan Professional adds jobs in La Crosse: Kaplan Professional continues to expand its local work force, and has mostly completed its move to the fifth and sixth floors of the new Riverside Center II office building in downtown La Crosse. Kaplan had 72 employees in the area in late 2007, and about 180 early last summer. Today, it has about 250 employees in La Crosse and expects to have about 280 by April 1, said Andy Temte, division president and CEO.
http://www.rivervalleynewspapers.com/articles/2009/01/07/business/00cahalan.txt
Midwest Connect overtakes Midwest Airlines : When you book a ticket these days on Midwest Airlines, chances are better than ever you’ll actually end up flying on the carrier’s regional service, Midwest Connect. For the first time in its 20-year history, Midwest Connect is flying more passengers from Milwaukee’s Mitchell International Airport than the Midwest Airlines mainline carrier.
http://www.jsonline.com/business/37143359.html
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– TOM BURZINSKI: IT executive and consultant
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TECHNOLOGY (back to top)
– Virtual nursing: Electronic ICUs assist retention of nurses with experience
http://www.bizjournals.com/milwaukee/stories/2009/01/05/focus1.html?b=1231131600^1754399
ECONOMY (back to top)
– Surprise shutdown leaves radio station hanging
http://www.greenbaypressgazette.com/article/20090107/GPG03/901070696/1247
MANUFACTURING (back to top)
– Recession pushes scrap steel, aluminum prices all around
http://www.postcrescent.com/article/20090107/APC03/901070539/1028
LABOR (back to top)
– Business Beat: Erdman layoffs would have Marshall rolling in his grave
http://www.madison.com/tct/business/431193
– Employment drops less than 1 percent in Madison area
http://www.madison.com/wsj/home/biz/431144
– Action needed to address shortage of doctors
http://www.bizjournals.com/milwaukee/stories/2009/01/05/focus2.html?b=1231131600^1754403
– Hospital systems step up physician recruitment
http://www.bizjournals.com/milwaukee/stories/2009/01/05/focus3.html?b=1231131600^1754410
SMALL BUSINESS (back to top)
– Madison construction firm thrives despite economic downturn
http://www.madison.com/tct/business/431195
– SBA graduates 15 local firms from program
http://www.bizjournals.com/milwaukee/stories/2009/01/05/daily29.html
INVESTING (back to top)
– Artisan fund managers win Morningstar honor
http://www.bizjournals.com/milwaukee/stories/2009/01/05/daily28.html
REAL ESTATE (back to top)
– National Association of Realtors pending sales index drops
http://www.bizjournals.com/milwaukee/stories/2009/01/05/daily27.html
AGRIBUSINESS (back to top)
– Wisconsin Hog Numbers Down in Previous Quarter
http://www.wisconsinagconnection.com/story-state.php?Id=23&yr=2009
TRANSPORTATION (back to top)
– Charter airline Sterling Aviation adds midsize jet
http://www.jsonline.com/business/37144524.html
RETAIL (back to top)
– CVS Pharmacy to open in Franklin
http://www.bizjournals.com/milwaukee/stories/2009/01/05/daily23.html
REGULATION (back to top)
– Briggs, others face new lawsuits
http://www.jsonline.com/business/37181244.html
UTILITIES (back to top)
– Downtown Sheboygan briefly loses power
http://www.jsonline.com/news/milwaukee/37149074.html
HEALTH CARE (back to top)
– Area health-care providers face heavy financial burden
http://www.greenbaypressgazette.com/article/20090107/GPG0101/901070722/1978
– Vets see economy’s impact on pet care
http://www.leadertelegram.com/story-news.asp?id=BIR449RVHGL
– Meriter, University of Wisconsin hospitals plan to open abortion clinic
http://www.madison.com/wsj/home/local/431180
– Waukesha Memorial Hospital opens neurology unit
http://www.jsonline.com/business/37148204.html
FINANCIAL SERVICES (back to top)
– Bank plots aggressive strategy as it raises $24M in capital
http://www.greenbaypressgazette.com/article/20090107/GPG03/901070702/1247
MANAGEMENT (back to top)
– Schreiber Foods shakes up sales staff
http://www.greenbaypressgazette.com/article/20090107/GPG03/901070700/1247
– Gregory Marcus succeeds father as Marcus Corp. CEO
http://www.bizjournals.com/milwaukee/stories/2009/01/05/daily22.html
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