(WisBusiness) WED News Summary — 14 Jan. 2009

From WisBusiness.com …

— The fourth-quarter 2008 Wisconsin Biotechnology Index, a project of WisBusiness.com and the Wisconsin Biotechnology & Medical Device Association, slipped 10 points from the third quarter of 2008 to 254.24, out of a possible 400 points.

The drop was due largely to deepened concerns among the senior industry executives who responded to the survey about the availability of capital. Almost half (47.3 percent) of survey respondents rated the availability of capital as only fair, an increase of more than five percent from the previous quarter. Nearly 40 percent (38.2 percent) rated capital availability as poor, an increase of more than 12 percent from the third quarter. The senior biotechnology and medical device executives who responded to the survey don’t expect the capital markets to improve during the next 12 months. More than 85 percent (87.3 percent) of survey respondents believe the availability of capital will stay the same or get worse during the next year, roughly the same number as the third quarter.

Perceptions of the current condition of the state’s bioscience industry remain unchanged from the third quarter of 2008. Roughly three-quarters of those who responded to the survey said the Wisconsin’s industry is in good condition.

See more on fourth quarter results later at http://www.wisbusiness.com

Read more about the third quarter results, released in October:
http://www.wisbusiness.com/index.Iml?Article=139455

— Global yields of most biofuels crops, including corn, rapeseed and wheat, have been overestimated by 100 to 150 percent or more, suggesting many countries need to reset their expectations of agricultural biofuels to a more realistic level.

That’s according to a study, led by Matt Johnston and Tracey Holloway of the University of Wisconsin-Madison Nelson Institute for Environmental Studies and Jon Foley of University of Minnesota, that drew on actual agricultural data from nearly 240 countries to calculate the potential yields of 20 different biofuels worldwide.

See more on the study: http://www.wisbusiness.com/index.iml?Article=145682

— The number of mortgage foreclosure filings in Wisconsin jumped more than 21 percent from 2007 to 2008 — the second straight year such court filings increased more than 20 percent. That’s according to a new report from the state court system.

The report, released Tuesday, shows foreclosure filings statewide —  excluding central Wisconsin’s Portage County —  jumped from a little over 21,000 in 2007 to more than 25,500 last year. The largest numeric increase occurred in Milwaukee County, where foreclosure filings increased 14 percent to about 6,500.

State court officials say they’ve provided educational programs on mortgage laws and regulations for judges and court staff, and some judges have developed procedures to encourage settlements. They also say they’re talking with court systems across the country to find programs that speed fair settlements and relieve stress on the court system.

See details: http://www.wisbusiness.com/index.iml?Article=145664

— A new coalition headed by Midwest Environmental Advocates and Citizen Action of Wisconsin is urging state and federal leaders to invest billions in federal stimulus money toward “green” economic recovery projects.

The group, Coalition for Wisconsin’s Green Economy, held a news conference Tuesday in the Capitol to outline its “Blueprint for Wisconsin’s Green Economy,” which lists more than $2 billion in environmentally-friendly infrastructure projects that the group argues would create about 30,000 new jobs.

“We’re at a critical point where we can jump start our economy with targeted investments that build Wisconsin’s 21st Century green economy,” Madison Mayor Dave Cieslewicz said in a statement. He advocated, in particular, spending on mass transit projects, which accounted for a large segment of the infrastructure proposals.

Among the projects listed in the blueprint are the KRM commuter line and Chicago-Milwaukee-Madison high-speed rail line, as well as improved buses and terminals in Milwaukee. The plan also suggests improvements to Milwaukee’s sewer systems and hundreds of millions in public and private renewable energy projects.

“With clean air, fresh water, reduced poverty, green manufacturing, and green education, Wisconsin will emerge as a sign of hope for a secure and sustainable green economy,” the report says.

See the press release: http://www.wispolitics.com/index.iml?Article=145583

Read the Blueprint for Wisconsin’s Green Economy http://www.midwestadvocates.org/archive/blueprint/Blueprint%20for%20Wisconsin%20Final.pdf

— County Board Chairman Lee Holloway recommended to a county board task force that the county should consider forming its own transit authority, that others in the region could later join.

The task force, which is considering Southeastern Wisconsin Regional Transit Authority recommendations, was convened after after the RTA proposed in recommendations to the state that it become permanent and be allowed to levy a 0.5 percent sales tax to fund the KRM commuter rail line and local transit. The RTA includes Milwaukee, Racine and Kenosha.

The county however, is seeking it’s own 1 percent sales tax to fund transit, parks and emergency medical services.

Holloway told the task force that his goal is not to close the door on the KRM line or a regional RTA, but that the county needs to stabilize its own transit, parks and EMS systems and provide property tax relief as residents voted for on a Nov. 4 referendum. Holloway said Milwaukee has experience with rubber-tire transit and could provide expanded services to other areas without additional administrative expense.

See more: http://wisbusiness.com/index.iml?Article=145656

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