— DWD announced that Wisconsin’s unemployment rate for May was 8.7 percent. That’s down 0.1 percentage points from April’s 8.8 percent and lower than the national rate of 9.4 percent reported by the federal Bureau of Labor Statistics. The May rate was 4.5 percentage points higher than the rate of 4.2 percent for Wisconsin in May of 2008. From April to May, total Wisconsin non-farm jobs increased by an estimated 33,900 to 2,769,900. The May survey of Wisconsin households showed 4,700 more employed than in May, and 121,700 fewer employed than one year ago. See the DWD release: http://wispolitics.com/index.iml?Article=162166 — The former president and CEO of Third Wave Technologies Inc. is moving the Massachusetts company he now heads to Madison after receiving $1 million loan from the state Department of Commerce. “The assistance provided by the governor was a critical part of our relocation decision,” said Kevin Conroy, the company’s president and chief executive. “We know from past experience that Wisconsin, and the Madison area, in particular, is a great place to build a biotechnology company.” Exact Sciences Corp., a molecular diagnostics company focused on colorectal cancer, expects to make a significant investment in its relocated operations, creating as many as 150 jobs over five years. See the release: http://www.wisbusiness.com/index.iml?Article=162143 Conroy was a guest at a February WisBusiness Luncheon, where he expressed optimism about the long-term prospects of Madison’s tech sector: http://www.wisbusiness.com/index.iml?Article=148064 — For roughly 10 years, Wisconsin was on a utility building binge. Now, the push is for renewable and conservation efforts. With that comes a different debate and a different set of standards, says former state Public Service Commission general counsel and administrative law judge Edward Marion. “And I have confidence in the PSC,” he adds. “It has a very open process so that anyone who wants to get involved can do so. And the more people we have at the table, the better.” Marion, who finished a decade of PSC work in December, also has served as chief of staff for former Gov. Tommy Thompson. In addition, the well-traveled Marion has been a Dane County judge, works as an adjunct law professor at UW-Madison and helps run a new mediation program dealing with foreclosures in Iowa County. Go to http://www.wisbusiness.com more soon for more from a new interview with Marion — Wisconsin Manufacturers & Commerce is blasting Senate Democrats for passing a budget with “$3 billion in higher taxes.” The group’s new ad lists a number of tax increases approved in the budget, including capital gains. “Wisconsin is losing jobs. Our families are tightening their belts,” says the narrator. “And in Madison they’re going the other direction. Raising taxes, killing jobs.” WMC earlier this week released ads praising Assembly Dems for removing joint and several liability language from its budget, and urging Senate Dems to do the same. The Senate Democrats also removed joint and several liability from their budget package, but that isn’t mentioned in the commercials. See all the latest ads in Ad Watch: http://wispolitics.com/index.iml?Content=24 TOP STORIES Massachusetts company gets $1 million loan from Wisconsin to move to Madison : Exact Sciences Corp., a Marlboro, Mass. company working on a new way to screen for colorectal cancer, is getting a $1 million loan from the state of Wisconsin to move to Madison. Moore: Chrysler talks ‘difficult’: Describing talks as difficult, Rep. Gwen Moore said she’s not sure if Chrysler can be persuaded to keep a Wisconsin engine plant in Kenosha open for business. Unemployment in May dips to 8.7%: Wisconsin’s unemployment rate for May was 8.7 percent, down 0.1 percent from April’s 8.8 percent, and down 0.7 percent from March’s 9.4 percent, according to the state Department of Workforce Development (DWD) Secretary Roberta Gassman.
************************************************************ 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) – Another feature film to be shot in Milwaukee – Hal Leonard acquires Nashville music publisher – Wisconsin 1Q personal income down 0.7 percent
MANUFACTURING (back to top) – S&S Cycle gets $14 million in tax credits – General Plastics adds machines in expansion
LABOR (back to top) – Area’s job losses jump 60 percent – Wisconsin grants to fund training programs – More workers delaying retirement – 12 months of job losses take state to 1999 employment levels
SMALL BUSINESS (back to top)
REAL ESTATE (back to top) – Fond du Lac Ramada sold to California firm
AGRIBUSINESS (back to top) – Cross Country: Summer filled with lots of fun farm events
RETAIL (back to top) – Eddie Bauer files Chapter 11 bankruptcy – Steinhafels opening second Madison store – Kohl’s might slow expansion, analyst says
UTILITIES (back to top)
HEALTH CARE (back to top) – State might drop HMO contracts – Swine flu escalating in state – even in warm weather
FINANCIAL SERVICES (back to top) – Local credit unions face regulatory pressure to merge – M&I paying $21.4M dividend on TARP stock PRESS RELEASES (back to top) For these and more releases visit http://www.wisbusiness.com/index.iml?Content=82 |
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