— The push to reform health care is already forcing drug, device and diagnostic companies to make changes in how they do business, a panel of experts said Wednesday at the 2009 Biotech Vision Summit held in Middleton. The theme of the event, appropriately, was “thriving in turbulent times.” It was hosted by BioForward, the Madison-based biotechnology association. No longer can firms simply “launch and hope,” products, said David Lee, head of Health Economics in the Americas for GE Healthcare, a company with $17 billion in annual sales. Now, he said, they must be able show that what they are developing has a market, has the potential to make money and can produce positive outcomes for patients. While that might help keep costs down, it could also mean there will be less breakthrough innovation, he predicted. See more: http://www.wisbusiness.com/index.iml?Article=172841 — MadisonVerve.com launched its new printed “Scene & Style” magazine with a party at Plan B nightclub in Madison last night. The magazine is a pocket guide featuring restaurants, bars and social events around the Madison area. WISC anchor Carleen Wild introduced the publication in front of the capacity crowd of 350. Publisher James Tye said the publication will only include lifestyle advertising, and be geared toward “taste-makers” in the Madison area. See more at http://www.madisonverve.com — A new survey shows almost two-thirds of Wisconsin residents support the use and production of biofuels, but less than half think the government should subsidize their development University of Wisconsin researchers found partisan differences in opinions about government assistance for the industry. About 60 percent of Democrats support the use of government subsidies for biofuels research, but less than 40 percent of Republicans agree. But a majority from both parties believe that without government pressure, the oil industry will never invest in biofuel development. See details: http://www.wisbusiness.com/index.iml?Article=172791 — A state manufacturer of kitchen appliances says an increase in demand is leading it to increase shifts at a facility in Wisconsin. Sub-Zero/Wolf is calling back 165 hourly employees to its factory near Madison and plans to hire 60 salaried workers. The hourly employees will be back in November, with other hirings continuing over the following six months See details: http://www.wisbusiness.com/index.iml?Article=172738 — DaneCountyMarket.com reports that September Dane County foreclosure filings increased by 82 percent from the number of filings registered in September of 2008, according to data maintained by the Wisconsin Circuit Court. A total of 184 new foreclosures were filed in September compared to 101 in September of 2008. That’s a new record for Dane County, eclipsing the previous record of 161 foreclosures in July. See details: http://danecountymarket.com/article.jsp?id=151 TOP STORIES
Midwest governors bank on green jobs : Midwest governors are betting that investments in clean energy technology can help replace more than 1 million manufacturing jobs lost this decade. Equity firm buys 46% of JohnsonDiversey: A New York City-based private equity firm has agreed to purchase a 46 percent stake in JohnsonDiversey Inc. of Sturtevant for $477 million in a transaction that will result in the “Johnson” portion of the company name being dropped under a revamped corporate identity. Sub-Zero recalling hundreds of workers: Upscale appliance manufacturer Sub-Zero Inc. said Wednesday that it is recalling more than 200 workers because of increased demand for its Sub-Zero and Wolf products. Farmers may soon get reprieve from market swings: State and national farm union leaders say they agree with the U.S. Department of Agriculture’s decision to restructure the dairy industry to take some of the sting out of cyclical markets that have buffeted farmers over the last decade.
************************************************************ See commentary from around the state and columns from WisBusiness contributors Jennifer Sereno, Kevin McKinley, Tom Burzinski, Gregg Hoffmann, Tom Still and Steve Jagler: ************************************************************
BIOTECH (back to top) – Inquisitiveness of Milwaukee native leads to a Nobel prize – Innovation leads the way for Prodesse’s big payday
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MANUFACTURING (back to top) – Growth at Full Compass leads to new $13.5 million building – Harley museum exhibit to feature work of MIAD students
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REAL ESTATE (back to top) – Milwaukee: City receives federal funds to develop 30th St. corridor – Milwaukee: The Point on the River hits 50% condo sales mark
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