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After a year-and-a-half drafting process, the city of Madison and its consultants are ready to present an overview of the initial draft of the new city zoning code.Citizens interested in this process can view and respond to the draft of the new code during three community meetings this week. The meetings will take place on Monday, June 22 and Wednesday, June 24, and will include city staff and representatives from Cuningham Group, Architecture, P.A., the consultants that have been assisting the city with the project.

From high-profile development projects like Union Corners on East Washington Avenue, the BioAg Gateway north of the Beltline between U.S. 51 and Interstate 90 and the Central Library downtown to inventive online services for local businesses, the city's Economic Development Division is not short on ideas for improving Madison's relationship with business. But what the city and local businesses can afford in time and money will likely curtail what Madison can implement over the next year. The ideas stem from the three- to five-year strategic economic development plan the City Council passed in August 2008, shortly before stock markets crashed and the country -- Madison included -- settled into a major economic recession.

Madison police would enlist parental permission to search for guns in their children’s bedrooms in one part of a multifaceted plan outlined Thursday by Mayor Dave Cieslewicz. The search and seizure proposal is one of a long list initiatives — some new and some old — that Cieslewicz wants examined in the wake of a sharp increase in gun violence on the south and west sides of Madison this year.

From the front porch of his 19th century home on the quiet, tree-lined 1300 block of East Wilson Street, Dan Wehrman often can hear the comments of bicyclists pedaling past. "People come off the east side bike path and say things like, 'God, I just love this street,' " says Wehrman, 61, a homeowner there since 1992. So do most residents. A block off bustling Williamson Street and just around the corner from the iconic Crystal Corner Bar, the East Wilson/Schley Pass/Dewey Court area is unique

Gail Berberich’s dream home would be a lot sweeter if she could take advantage of the historically low interest rates banks are offering. But because the two-bedroom, 2½-bath ranch is atypical by design, Berberich says she can’t refinance because she can’t get an appraisal. She can’t get an appraisal because, in the wake of a nationwide mortgage meltdown, the rules for valuing a home have gotten a lot tighter. “I am so angry,” said Berberich, a small-business owner who has never missed a mortgage payment and boasts a credit score in the low to mid-700s. “We’re doing all the right things. We’re paying our bills.”

One local real estate agency is offering people the chance to learn about this year’s valuable federal tax credit for first-time home buyers in a free online Webinar they can watch wherever they have Internet access. "People won’t have to leave the comfort of their own home, or wherever they have computer access," said Jim Todd, general sales manager for Madison-based Coldwell Banker Success. "Our intent really is to provide education about the credit. Most people, quite frankly, don’t understand it." Todd will offer the one-hour program at 7 p.m. Tuesday for up to 1,000 participants. He will focus on the basics of the tax credit, worth up to $8,000 and good on purchases through Nov. 30 — as well as explain other potential buyer incentives, such as an abundant, affordable housing inventory and the low interest rates available now.

There will be an open house from 4:30 to 7:30 p.m. on Thursday at St. Mary’s Sun Prairie Emergency Center, which will open July 1. ...

Given the suspected link between fossil fuel emissions and global warming, Madison Gas & Electric picked the ideal location Thursday to tout gasoline-free driving: an asphalt parking lot on a 90-degree summer scorcher. With a noon sun blazing, the local utility unveiled an electric car charging station behind its headquarters building on East Main Street -- one of six stations planned around town.

The economy may be in its worst slump in decades, but at least one industry is still sprouting new companies and adding jobs in the Madison area. Technology companies boosted their revenue by more than $500 million in 2008 and added about 1,000 jobs over the previous year, according to a survey by Madison Gas & Electric.

The troubled U.S. economy hit its first turning point in January, when the stock market began to inch back up, but it will be early 2010 before unemployment eases much, Michael Knetter, dean of the University of Wisconsin-Madison School of Business, told a conference on Monday. Knetter was one of the main speakers at a half-day conference on economic recovery presented by the Foley & Lardner law firm at the Fluno Center, on the UW-Madison campus. Knetter called the slump "the worst post-World War II recession that we’ve ever had," saying a higher percentage of workers have lost their jobs than in the 1981-82 recession.

A science education center in Monona, funded in part with a $500,000 taxpayer grant slipped into the state budget with little scrutiny, could serve as a national model for teaching young people about climate change, organizers said. "Climate change is the single biggest issue that’s going to affect our lives, and it’s not just global warming,” said Terry Kelly, chairman of the Aldo Leopold Nature Center, which is developing the $2.7 million, 4,000-square-foot classroom addition and interactive laboratory on its campus.

By fall 2010, the Madison area can expect about 200 new full-time jobs as part of an initiative by the Veterans Health Administration (VHA) to improve billing and collections activities.
The new jobs will come from a consolidation of billing and administrative activities from VA hospitals around the midwest which will help expand the North Central Consolidated Patient Account Center (CPAC) in Middleton. The site for the new facility, which will incorporate all 130 current employees plus more than 200 additional employees, is still being chosen but will be somewhere in the Madison metro area, said Loretta Gulley, director of North Central CPAC.

Passenger traffic in May at the Dane County Regional Airport is up compared to this time last year, but freight traffic remains lower than last year, according to the monthly activity report from the airport. The number of passengers flying out of the airport increased about 2.7 percent, from 63,789 passengers in May 2008 to 65,507 passengers in May 2009.
Passengers arriving here increased 4.5 percent from 61,930 in May 2008 to 64,736 in May 2009. Freight handled has decreased significantly since May 2008.

The Kenosha County community of Pleasant Prairie, home to LakeView Corporate Park and other business parks, hopes to develop an incubator for technology-oriented business start-ups. The 2009-'11 proposed state budget, which is pending in the Legislature, includes a $700,000 grant for what has been dubbed the Pleasant Prairie Technology Incubator Center. The state Department of Commerce grant would be provided only if the center obtains matching funds of $700,000 from other sources.

Those other funds could come from the private sector, a federal grant, or a tax incremental financing district, in which Pleasant Prairie would provide money to be repaid through the incubator's property taxes. That's according to Todd Battle, president of the Kenosha Area Business Alliance, which is leading the effort to develop the incubator.

High-end women's fashion boutique Valentina is opening a store in Milwaukee's Historic Third Ward, possibly as soon as the end of July. That's the word from building owner Robert Joseph, who told me he's signed a lease with Valentina's owners for 1,300 square feet next to the Anthropologie store, 301 N. Broadway.

"This is an exciting addition to the Third Ward," Joseph said Thursday. Valentina's operators, mother and daughter Cheryl Chirchirillo and Gina Frakes, couldn't be immediately reached for comment. My colleague Doris Hajewski profiled Valentina in a March article. Valentina has stores in Mequon and Brookfield. But Doris, queen of all retail news, blogged earlier this month that the Brookfield store is to close June 30.

Restaurateur Russell Davis is reviving plans for a downtown development overlooking the Milwaukee River, just south of the Highland Ave. foot bridge.

The Common Council's Zoning, Neighborhoods and Development Committee on Tuesday is to consider a request to grant Davis a one-year purchase option for the city-owned vacant lot, at 1027 N. Edison St. Davis, who operates Vecchio Bar and Grille, Riverwalk Boat Tours and other local businesses, in 2007 proposed an eight-story building with a restaurant, banquet hall, office condos and residential condos. But that $10.6 million development, called Edison Green, didn't proceed because of the declining demand for condos, Davis said Thursday.

Bayside — The village's efforts to undertake several core "green" initiatives to enhance the energy efficiency of its facilities and operations, promote environmental stewardship in the community, and provide leadership in enhancing environmental friendliness has earned an honor. The Milwaukee Business Journal selected the village of Bayside as its first-ever Green Community of the Year. The six areas of focus include building; village operation and procedures; infrastructure; community; regulation and communication. The specific initiatives include:

Plans to build moderate-income apartments in Milwaukee's Bay View neighborhood hit a roadblock Monday when a city panel designated the existing property as having historical value.

The Historic Preservation Commission's unanimous ruling means developer General Capital Group will need commission approval to demolish part of the former Greenebaum tannery. General Capital wants to tear down part of the property to build the 60-unit Hide House Lofts.

A housing development proposed for Milwaukee's Bay View neighborhood would produce the same amount of energy as it consumes, if the project goes forward.

The city Housing Authority is proposing the $40 million development, dubbed Eco-Bay, for the former Army Reserve site at 2372 S. Logan Ave.

While some city officials have encouraged company 4S to rework Stonewood Village redevelopment plans to preserve a historic farmhouse on the site, at least one is now worried another pressing issue will arise: the density of use on the site.

The Brookfield Plan Commission recently asked developer 4S to seek a variance that would allow a drive aisle to be diverted around the farmhouse, known as the Siepmann home. The original plan for the site called for the building to be torn down or moved.

The Wisconsin Chapter of NAIOP, which represents commercial property developers, is among the business groups unhappy with the proposed state budget.

The state chapter has written a letter to state legislators, saying the 2009-'11 budget proposal contains "some of the most anti-economy, anti-development legislation seen in decades." The development industry is "limping on a broken leg and these policies kick out our crutches," the letter says.

Amcore Financial Inc. (AMFI), the holding company at Amcore Bank, announced on Friday a consent agreement with federal regulators intended to improve the bank's operations and financial health. Amcore, based in Rockford, Ill., has banking assets of $5.3 billion with 74 locations in Wisconsin and Illinois. The consent agreement calls for the bank to raise capital and to revise and maintain a liquidity risk-management program. The bank also said it was in default under a $20 million credit agreement with JPMorgan Chase Bank. JPMorgan advised the company that it does not expect to pursue any "remedies" at this time, Amcore said.

Employers in the Milwaukee area cut nearly 45,000 jobs in the last year, setting the employment level below where it was in 1997, according to preliminary figures released Wednesday. The loss of more than 5% of area jobs since May 2008 was the deepest cut for Milwaukee in 41 years of records.

Milwaukee may have an opportunity to shape the future of Wisconsin eminent domain cases. A current case facing the common council includes a dispute between owners of a private parcel of land and the city that wants the land to be developed. Rafael Cetina, who wants to keep his land, said the city is unfairly taking it to give it to Pete’s Fruit market, a nearby grocer, using eminent domain. The sticking point, according to area experts, is the designation of the property as blight. The city’s Zoning, Neighborhoods and Development committee voted to designate the fenced in grass parcel of land as blight.

It's been a tough economy, but there are 50 small companies in the area that collectively have added more than 1,700 jobs over the last two years and nearly doubled their sales to $621 million. They're the Future 50 of the Metropolitan Milwaukee Association of Commerce, and they're a reminder that opportunity is present even during recession. "They've all found ways to serve their customers better, for less money and more simply, and that's the equation," said Tim Keane, director of Marquette University's Kohler Center for Entrepreneurship.

Republic Airways Holdings is acquiring Milwaukee-based Midwest Airlines from TPG Capital, a private equity firm. The transaction is subject to regulatory approvals and is expected to be completed in four to six weeks. Republic will acquire 100 percent of the equity of Midwest and TPG’s $31 million secured note from Midwest.

Madison — A budget that closes the biggest deficit in Wisconsin history with tax increases, one-time federal stimulus cash, cuts in aid for schools and local governments, and furloughs for state workers was passed by the state Senate early Friday. On a 17-15 vote, the Senate approved the $62-billion spending plan at 12:33 a.m. Seventeen Democrats voted for it; Democrat Sen. Jim Sullivan of Wauwatosa, who is expected to be in a tough re-election fight next year, joined 14 Republicans in voting against it. Republican Sen. Alan Lasee of De Pere was absent. The vote sent the budget to the State Assembly, where leaders said they will debate it Friday night. Like the Senate, the Assembly cannot change it.

Considering the view from the 13th floor's sun-splashed party deck, you can see why developers of a new apartment tower at North Mills and West Johnson streets had the nerve to dub it "Grand Central." "We're in the dead center of campus," says John Leja, pointing out landmarks during a tour of the more than $20 million apartment project last week. "There's the chemistry building and the education building, and there's where the new Union South will go. "Scheduled to open in August and with all but a handful of the 155 units rented, Grand Central is the most expensive residential development launched in Dane County in the past two years. It joins the 359-unit Lucky Apartments, which opened last August in the new University Square, along with a half-dozen other apartment towers that have sprung up in the past decade near the UW-Madison campus.

A proposal to redevelop the Badger Bus terminal site at the corner of West Washington Avenue and Bedford Street was approved. The Madison Plan Commission Monday night approved plans for 82 luxury apartments units and 12,000 square feet of retail space in three buildings in the Bassett neighborhood. The development would force closing of the bus terminal at 2 S. Bedford St., but that issue fell outside the review of the commission. "I don't like to see the bus station going away and that's not to say it's not an important matter," said commission member Tim Gruber.

A University Square grocery store could open in October, said Jeff Maurer, former president of Pierce's Supermarkets of Baraboo... The 18,000-square-foot store would have all retail space on the first floor, with the second floor allocated to back-room operations and storage. Maurer said he’s working to finalize negotiations with the developer, Executive Management of Madison, and some city approvals are needed, including a license to sell alcohol.

The state Department of Commerce has given a $1 million loan to Exact Sciences Corp. to move its headquarters and operations to Wisconsin from Massachusetts, Gov. Jim Doyle's office said Thursday that it will move from the Boston area to Madison's University Research Park. The publicly traded company is developing a noninvasive DNA test to screen for colon cancer. The test can be administered at home and then sent to a lab. The at-home test hasn't begun clinical trials, so it would take at least a few years to bring the product to market. Kevin T. Conroy is president and chief executive of Exact Sciences, and Maneesh K. Arora is senior vice president and chief financial officer. Last year, the two steered the successful sale of their Third Wave Technologies Inc. in Madison to Hologic Inc. for about $580 million. Exact Sciences plans to use the money it receives from the state for the purchase of equipment and for working capital.

The Madison Urban Design and Planning Commission recently approved Steinhafel's Furniture's plan for building a free-standing 99,726-square-foot furniture store on approximately 14.5 acres of land adjacent to East Towne Mall. Company president Gary Steinhafel said the Waukesha-based firm will sign a short-term lease to occupy the former Steve and Barry's retail clothier location in Madison's East Towne Mall. Steinhafel's is planning to build a new furniture superstore nearby. "East Towne Mall presents a unique short-term opportunity for us to enter the east side of Madison with our best selection of products. The location will make shopping more convenient while planning our new store," he said

Dane County home sales in May continued to trail last year’s figures for total sold and sales price, although the latter gap began to close a bit.

The South Central Wisconsin MLS on Wednesday reported 543 home and condominium sales in Dane County in May, compared to 653 in May 2008, for a decline of 17 percent. From January through May this year, there were 1,656 sales in Dane County, compared to 2,057 in the same period last year, for a decline of 19 percent.

US 14 - between Cross Plains and Mazomanie - in western Dane County will be detoured to through-traffic beginning June 22. The highway will remain open to local traffic and motorists will still have access to businesses and residences within the work zone. “US 14 is open for business and will remain open through the summer,” said WisDOT project supervisor Jeff Gust. “We encourage motorists to support their local businesses during this challenging time.”

The city Board of Harbor Commissioners wants more details on a proposed University of Wisconsin-Milwaukee facility, including details on how the building would provide public access at its proposed downtown lakefront location. The board's Finance and Personnel Committee on Tuesday met to discuss the request for additional information. The board is to decide whether to negotiate with UWM over its request for an expanded lease at the former Pieces of Eight restaurant site. UWM wants to build the headquarters for its new School of Freshwater Sciences on the site. But concerns have been raised about how that facility would provide public access to the lakefront.

An upscale pizzeria and lounge may soon be opening at the long-vacant building that once housed a downtown Heinemann's Restaurant. Dick's Pizza and Lounge plans to open at 730 N. Milwaukee St. after it obtains a tavern license and remodeling work is finished on the building. The construction work is to be done by July, according to a tavern license application submitted recently to the City Clerk's office. The application was submitted by Dick's Pizza LLC, which is owned by Adam Kirchner and TWG Management LLC. The registered agent for Dick's Pizza is Thomas Wackman, part owner of Charro restaurant, 729 N. Milwaukee St., and other downtown nightspots.

The owners of the Sydney Hih building are being given one more month to present to the Historic Preservation Commision their plan to convert the vacant property on Milwaukee's Park East strip into offices, shops and apartments. Robert Ruvin, owner of Ruvin Development Inc., and David Florsheim were told at Monday's meeting that commission members are getting a bit antsy with the developers seeking continual delays on the commission deciding whether to designate the property as historic. "We want closure in a month," commission Chairman Matt Jarosz said. The developers recently began making facade improvements to the Sydney Hih, 300-318 W. Juneau Ave. They are compiling cost estimates for renovating the vacant building, which was built in four connected stages, beginning in 1876.

Plans for a moderate-income apartment development in Milwaukee's Bay View neighborhood hit a road block Monday when a city panel designated the property as historic. That ruling by the Historic Preservation Commission means developer General Capital Group will need commission approval to demolish a portion of the former Greenebaum tannery. General Capital wants to tear down part of the former tannery complex to build the 60-unit Hide House Lofts. The property now has interim historic status, which would last for six months. However, General Capital plans to appeal that ruling to the Common Council. The former tannery, 2625 S. Greeley St., now known as the Hide House, includes space that has been renovated into artists’ studios and other new uses.

Glendale 's Community Development Authority met in a closed session recently to discuss options on dealing with real estate investor Anthony Palermo's Glen Bay Plaza. Those options could include an eminent domain action, in which Glendale would buy the property over Palermo's objections, said City Administrator Richard Maslowski. Those discussions, however, are at a "very preliminary" stage, he said. Palermo couldn't be reached for comment.

The 160-room Aloft hotel, which is being built overlooking the Milwaukee River in downtown Milwaukee, would receive a $200,000 city loan to help pay for environmental cleanup work under a proposal to be considered Thursday by the Redevelopment Authority. The money would come a revolving loan fund that was created with grants from the U.S. Environmental Protection Agency. The money would be lent to Milwaukee River Hotels LLC, which owns the Aloft, which is just north of W. Juneau Ave. Milwaukee River Hotels is making a $27.8 million investment in the project, according to authority documents. The hotel is to open by the end of the year.

The former home of Foster Pontiac, 3636 S. 27th St., might be redeveloped for retail use, according to information disclosed at Thursday's city Redevelopment Authority meeting. The Foster property is within a proposed tax incremental financing district on S. 27th St., between W. Morgan and W. Howard avenues. The authority approved proposed boundaries for the district. A project plan for the district will later be created, and will include a proposal to spend city funds within the area. The city will recover its money from property taxes paid by new development. The district's borders and future project plan will need Common Council approval.

The city of West Allis will receive up to $4.1 million in state funds to address damage caused by last June's floods. Some of that money could go to a redevelopment project along 84th Street and Greenfield Avenue. The city of West Allis will receive up to $4.1 million in state funds to address damage caused by last June's floods. But not all of the money will be used to rebuild or repair existing structures. In the case of an old foundry washed out by flooding, the city is eyeing a redevelopment project that could spread elsewhere along a busy commercial corridor, city officials said. "The grant funds will bring new life to the impacted 84th and Greenfield corridor," Alderman Thomas Lajsic said in a news release.

Cudahy has shelved plans to use eminent domain to acquire a pair of taverns, which would have been taken over in advance of new development. City officials have opted not to declare eminent domain on two bars: Wayne's on Packard and Dusty's Place. Last year, Common Council and Community Development Authority members decided to look into the feasibility of exercising eminent domain, the lawful power to take private property for public use by the process of condemnation, on the properties in an attempt to enhance the aesthetics of the area.Mark Wiener, a developer for ERRS, was planning to build an upscale "live-to-work" complex next to the taverns. The development was to have allowed homeowners an opportunity to operate businesses in the same building as their residence.

The Fox Point Village Board took the first steps toward condemning property for an easement at Willow Court Condominiums on Tuesday. The Fox Point Village Board took the first steps toward condemning property for an easement at Willow Court Condominiums on Tuesday. Water and sewer mains run under or near the buildings in the 400 block of Willow Court. Director of Public Works Scott Brandmeier said the mains should be moved because they would present a danger to the buildings if they fail. The complex was built 40 years ago. Condominium owners in April expressed concerns about the plan and the special assessments that would be charged to them to pay for the work. The board passed a resolution to allow the relocation of the sewer and water mains to a new easement that it will obtain by condemnation, if necessary.

Oak Creek - The city will purchase 255 acres of land near Oakwood Road and Howell Avenue and promptly sell some of the property to the Oak Creek-Franklin School District and much of it to a developer. The property, mostly farmland owned by the Milwaukee Metropolitan Sewage District, is on the southwest corner of Oakwood Road and Howell Avenue. The Common Council in its May 19 meeting unanimously approved spending $7 million to purchase the land and get it back on the city's tax rolls after more than 20 years off. The School District plans to purchase 50 acres of the land and potentially construct a new high school on the site. District officials have said Oak Creek High School is at its ideal capacity and they have started to get residents' thoughts on building a second high school.

Harris Bank, which acquired Ozaukee Bank and Merchants and M&M Bancorp in 2008, has opened its Wisconsin district office in 10,500 square feet of space at 1000 N. Water St. in downtown Milwaukee. About half of the space was formerly occupied by Lincoln State Bank, one of the banks operated by M&M Bancorp. The bank now occupies the former Lincoln State space on the building's first floor, as well as offices on the second floor of the building. Harris' retail and commercial lending operations will remain on the first floor. Administration and related functions are located on the second floor, including the offices of Tom Bolger, president of the Wisconsin district and Jill Haupt, regional president.

Construction workers at the Pabst brewery redevelopment project held a topping off ceremony this week for the 8-level, 880-space parking structure. The $16.5 million parking structure was assembled in less than 16 weeks with 700 pieces of precast concrete, weighing as much as 20 tons each. The construction of the parking structure will be complete in November, said Zilber's assistant Mike Mervis.

Alleged creditors are assailing Lang Holdings Inc., the Delafield-based supplier of calendars, stationery and specialty gifts. Since April 9, four lawsuits have been filed against the firm or its unit, the Lang Cos. LLC in Wisconsin or in California. Each accuses Lang of reneging on its financial obligations. All told, the actions allege Lang has failed to pay more than $2.5 million it owes. Lang Holdings CEO and President Laurie Gilner said in a message that the company doesn't comment on legal matters but is "working to resolve these items."

Waukesha Tool & Stamping LLC has leased a 42,900-square-foot industrial facility at 2076 First Ave., Grafton, to house a newly purchased business, it was announced Wednesday. The building, leased from from Grafton Investments LLC, will house Parkview Metal Products, which now operates in Lake Zurich, Ill. Waukesha Tool, based in Sussex, announced in May its acquisition of Parkview. Pete Slezak, of Colliers Barry, brokered the transaction.

City officials are considering an ordinance that would ban property owners from installing gravel driveways and parking lots. The issue came up during a recent Common Council meeting after Mayor Al Richards voiced concerns that a homeowner on East Denton Avenue tore up a chunk of grass in his yard and installed a gravel parking area. "I think that's unsightly," Richards said. The Common Council referred the issue to the Board of Public Works, which briefly discussed the issue May 11, but took no action. Building Inspector Craig Vretenar said a city ordinance requiring residents to use asphalt or concrete for driveways and parking lots was changed about six to seven years ago to allow homeowners to save money by installing gravel instead.

A new farmers' market is set to open this month in Madison's Meadowood neighborhood. Meadowood residents and community members came up with the idea last year and the Madison-Dane County Health Department and other local groups pursued the project, said Kim Neuschel, public health nurse for Madison. Last week, the group was awarded $10,835 by the Community Development Block Grant Commission to establish the Southwest Farmers' Market.

Foreign real estate investors say they expect to see a recovery in the U.S. real estate market by the end of the second quarter of 2010, according to the results of a new survey released today by the Association of Foreign Investors in Real Estate (AFIRE). Completed in the past month among the association's nearly 200 members, the survey was conducted by The James A. Graaskamp Center for Real Estate, University of Wisconsin - Madison. This is the first mid-year survey to be conducted by AFIRE.

Governor Jim Doyle today announced that 15 community projects would share $7,045,000 in Community Development Block Grant (CDBG) funds from the American Recovery and Reinvestment Act (ARRA) to support infrastructure and business development projects. "These Recovery and Reinvestment Act funds will create opportunities for hardworking families and strengthen infrastructure throughout Wisconsin," Governor Doyle said. "These infrastructure and business development projects will help us to create good jobs and grow the economy of our state."

Members of Wisconsin’s congressional delegation will meet today with Chrysler Group Deputy CEO Jim Press in Washington, D.C. U.S. Sens. Herb Kohl and Russ Feingold and Reps. Paul Ryan and Gwen Moore will discuss the future of Chrysler’s engine plant in Kenosha, currently slated to close in October 2010. State officials confirmed Wednesday that Gov. Jim Doyle and several state officials flew to Detroit on Tuesday to hand-deliver a proposal to General Motors, aimed at persuading the automaker to build a new car in Janesville.

President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern America's troubled financial institutions, proposing the most ambitious revision since the Great Depression. The goal is to prevent a recurrence of the economic crisis that erupted in the United States and exploded last fall with devastating consequences still reverberating around the world. Unlike the government's temporary ownership stake in automakers and major financial companies, the regulatory changes set to be announced Wednesday are designed to be permanent. They could result in a major realignment of power and authority among government agencies that set the rules for banking, lending and investing and touch American lives through daily transactions, from credit cards to mortgages and mutual funds.

High-speed rail plans in California and the Midwest appear to be front runners in the race for $8 billion in stimulus cash based on federal criteria released Wednesday that favor projects with established revenue sources and multistate cooperation. California voters last November approved nearly $10 billion in state bonds that could be combined with federal money to build 800 miles of high-speed track. Eight Midwest states have cooperated closely to promote a network, with Chicago as its hub, that would join 12 metropolitan areas within 400 miles.

State government, school boards and other public municipalities and counties may have to increase contributions to employees pension funds by nearly 6 percent under a recommended hike to be voted on Thursday. The increase before the state Employee Trust Funds board would start in 2010 and affect about 90 percent of the 263,000 active workers in the state retirement system. If approved, the base contribution rate would go from 10.4 percent to 11 percent, which is a 5.8 percent increase. Most employers, including the state, cover the entire amount, said board spokesman Matt Stohr. The state has a fund set aside to pay for contribution rate increases, though it's unclear how that will affect the state's $6.6 billion budget shortfall. The governor's budget director did not immediately return a message seeking comment Wednesday.

Stocks surged today after the Conference Board proclaimed that the U.S. recession is "losing steam" and a slow recovery should begin by the end of the year.
The Conference Board said its index of leading economic indicators rose 1.2 percent in May, the second consecutive monthly increase. "The strengths among its components continued to exceed the weaknesses this month. Vendor performance, the interest rate spread, real money supply, stock prices, consumer expectations, and building permits contributed positively to the index, more than offsetting the negative contributions from weekly hours and initial unemployment claims," the Conference Board reported. Meanwhile, manufacturing firms in the Philadelphia region reported their best business conditions since September, the Federal Reserve Bank of Philadelphia said today. The Philly Fed index improved to negative 2.2 in June from negative 22.6 in May.

Some Kenosha Chrysler workers will return next week to their jobs before full production returns on a limited basis to the engine plant later this month, union officials said Wednesday night. Glenn Stark, president of United Auto Workers Local 72, said about 100 people, including team leaders, select machining employees, engineers, office and clerical and maintenance crews, will start next week.

Council orders furloughs, balks at snow fee increase

Milwaukee aldermen on Tuesday ordered two-day unpaid furloughs for thousands of city employees, a move that would shut down most city offices July 2 and Sept. 8. But the workers' unions have threatened to fight the move, leaving the eventual outcome - and the ultimate savings - uncertain. At the same time, the Common Council narrowly defeated a $9.15 snow-and-ice fee increase, approved a 3.8% water rate increase and rejected a move to trim firefighting crews - all issues likely to come up again soon. Most of the action came on a $14.1 million package of budget changes from Mayor Tom Barrett. Facing a 2010 shortfall projected at $90 million or more, Barrett has said he is trying to build a 2009 surplus that would help provide a cushion for the next two years.

In the latest sign that the economic recession is hurting local government in Waukesha County, the Common Council has approved unpaid employee furloughs and other measures aimed at managing a $600,000 shortfall. The city also is postponing until Jan. 1 the installation of a new police chief. Mayor Scott Klein said he was confident that the emergency measures approved by aldermen Monday night would stabilize the city's $12 million budget for this year. Klein, however, also said officials would revisit the issue regularly to determine if more adjustments are needed. "This will be a work in progress," he said. Waukesha County and the City of Brookfield had previously announced voluntary employee furloughs, while the City of New Berlin imposed spending and hiring freezes because of the economic slowdown.

Mayor George Scherck has proposed a wage freeze for the city's 277 employees to help Neenah close a $1 million budget gap. The freeze would apply to the mayor through 2014 and to other employees through 2010. "The wage freeze on nonunion employees will be implemented immediately while a freeze on union employee wages will depend on negotiations with the city's unions because contracts are settled through 2010," Scherck said. About 60 percent of the employees are union members. The mayor met with union representatives last week to ask for concessions. He said city employees cannot remain immune from what other workers are experiencing.

The vast majority of employers in Wisconsin and northern Illinois expect their businesses to either improve or remain the same in the third quarter, according to the latest survey by QPS Companies, a Brookfield-based staffing and recruiting firm. QPS surveyed more than 300 manufacturers, banks, printers, distributors and information technology firms throughout the region as part of its regular employment forecasting survey. According to the survey, 87 percent of local companies expect their business to improve or remain the same in the third quarter. Forty-one percent expect business to improve, while 46 percent expect business to remain the same and 13 percent expect business to decline. The numbers are an improvement over the second quarter, when 54 percent expected conditions to decline.

Despite the billions of dollars that have been pumped into banks by the U.S. Treasury Department's Troubled Asset Relief Program (TARP) and related programs, merger and acquisition-related lending in Milwaukee and around the country is difficult to obtain, many of those within the deal community say.

Wisconsin employers cut 133,800 jobs in the last 12 months, the biggest one-year setback ever and in percentage terms the deepest dip in more than 50 years. Preliminary payroll data released Thursday by the Wisconsin Department of Workforce Development show the state with fewer jobs last month than it had in May 1999. Year-to-year job losses were widespread, touching every major private-sector industry except educational and health services. Manufacturers led all industries, with a cut of 61,500 jobs, or 12.5%, since May 2008.

The restart of production at the Kenosha Engine Plant will amount to a "three-week job interview" as workers await word on whether the new management of Chrysler Group will keep the factory running after next year, a union leader said Wednesday.

It was nearly five years ago that Madison Mayor Dave Cieslewicz removed a $25 million renovation of Central Library from the 2005 capital budget, citing financial constraints and more pressing needs for branch libraries across the city. The project would have given the aging 1960s building at 201 W. Mifflin St. a major expansion -- adding 47,000 square feet with a third story and underground renovation -- as well as a makeover, putting in more windows for natural lighting and gray slate to cover its motley brown exterior.

The Barbara Hochberg Center for Jewish Student Life, 611 Langdon St., is now the largest Hillel in the country, said Greg Steinberger, executive director. “The first reaction from the few students and people who have come through it is tremendous,” Steinberger said. “It’s exciting and beautiful and frankly, it’s huge.” With a distinctive exterior of stainless steel, glass, and Jerusalem stone, the almost 40,000-square-foot building, including parking, more than triples the size of the old facility.

Amid pay cuts, furloughs and larger class sizes, UW System officials see one silver lining in the otherwise harsh state budget: a big investment in new buildings. The Legislature's Joint Finance Committee has approved 36 major UW System building projects, including new residence halls, state-of-the-art research laboratories and academic buildings.

Fourteen homes in three neighborhoods will be showcased in this year’s Parade of Homes sponsored by the Madison Area Builders Association. The event, which starts Saturday and ends June 28, will feature five homes in Bristol Gardens in Bristol, two homes in Middleton Ridge at Misty Valley and seven homes in Southbridge The Kilkenny Addition in Waunakee.

The three-member Public Service Commission on Thursday gave unanimous preliminary approval to American Transmission Co.'s plan to build a 32-mile, 345-kilovolt transmission line across the county, from west of Middleton to the town of Christiana. The line will skirt the Beltline, rather than meander through the rural western and southern parts of the county, and it will be built entirely above ground. But commissioners took steps they said would protect the appearance of the UW Arboretum and the use of the Odana Hills Golf Course.

Hiring is expected to pick up in the Madison area in the third quarter, according to Manpower Inc.'s quarterly employment outlook survey. The Milwaukee-based global staffing giant reported Tuesday that 21 percent of Madison area companies interviewed plan to hire more employees in the third quarter, while 11 percent expect to reduce their payrolls. Another 64 percent expect to maintain their current staff levels, and 4 percent are not certain of their hiring plans.

Russ Darrow, chief executive and owner of Menomonee Falls-based Russ Darrow Group, said Wednesday that he plans to spend $1.5 million to remodel a building that will house a Chrysler-Jeep-Dodge dealership on Madison's east side. Darrow said he plans to create 25 jobs as a result. He expects the new dealership location on High Crossing Blvd. to be fully operational within a week to 10 days. The business will be open during the remodeling. Darrow owns the property. In recent months, another dealer had been using the site as extra space.

As Chrysler emerged from bankruptcy Wednesday with Fiat as its new owner, Russ Darrow in Madison promised customers little disruption as he opens a new Chrysler Jeep Dodge dealership on the Far East Side in about a week and hires 25 employees to help staff it. "We’re still going to be in business here in Madison," Darrow said. "We will still have access to our customers." Darrow was told last month by Chrysler officials that his Chrysler Jeep dealership at 6525 Odana Road was one of 789 Chrysler dealerships nationwide – including 18 in Wisconsin — whose franchises would not be renewed.

General Motors has notified a South Side Madison Chevy dealership that it will end its franchise with the company next year. Tom Thorstad, general manager of Thorstad Chevrolet, 1702 S. Park St., confirmed in a statement that GM sent the dealership a letter informing it of the bankrupt automaker’s intent to end the franchise no later than Oct. 31, 2010. The dealer has appealed GM’s decision and is “considering our options,” according to the statement. Thorstad declined to answer questions about the development Saturday night. After GM announced in April that it would close 1,000 to 1,200 dealerships, Thorstad said he was writing and calling GM staff to lobby for his dealership, which has been selling vehicles on the South Side since 1970.

Scrap metal dealers should be on the watch for anyone selling several hundred pounds of copper and aluminum, after thieves stripped the metal out of a large air conditioner sometime during the weekend on the east side. Madison police said the theft was noted Monday morning at a construction site in the 900 block of Williamson Street.

Aurora Wilkinson Medical Clinic in the new Aurora Medical Center in the Town of Summit will open Oct. 26, ahead of schedule, Aurora Health Care said Wednesday. Opening on the Summit campus, at I-94 and Highway 67, at the same time will be the new Vince Lombardi Cancer Clinic, which will move from its Oconomowoc location. The hospital part of the project remains on schedule to open early next year. The new medical clinic will replace the current one at 915 Summit Ave. in Oconomowoc. Urgent care services will continue to be offered there, and its pharmacy will remain open. The new medical clinic also will replace the Aurora Wilkinson Women's Center and the Aurora Vision Center in Oconomowoc.

Despite a deep recession, developer Wispark LLC on Thursday paid more than $5 million for an Oak Creek site where the firm plans to create one of the larger business parks in Milwaukee County. Despite a deep recession, developer Wispark LLC on Thursday paid more than $5 million for an Oak Creek site where the firm plans to create one of the larger business parks in Milwaukee County. The business park will be developed on 169 acres, south of W. Oakwood Rd. and west of S. Howell Ave. Allowing for green space and roads, the developable portion will be around 120 acres, said Wispark President Jerry Franke. That would be comparable to Wispark's GrandView Business Park, at I-94 and Highway 20, in Racine County.

Developer Dan Druml plans to build a 40,000-square-foot light manufacturing facility at 1966 S. 4th St., just east of I-94 and south of Burnham St. Druml operates River Corner LLC, which is seeking approval from the city Board of Zoning Appeals for the project. The board will consider the development at its Thursday meeting. Druml hopes to lease the building to one or more tenants, according to information filed with the board. The building would be a $2.5 million investment. Druml is a local franchisee of Paul Davis Restoration, a remodeling firm with locations throughout the United States.

A revised development plan for Stonewood Village shopping center, in Brookfield, has that city's Plan Commission divided. Some commission members like the revised proposal, which would preserve an 1865 farmhouse on the site. But others say the original plan provided better traffic flow. Brookfield Now, a sister publication, has the details.

A proposal to create property tax relief for some Wisconsin homeowners will face opposition from developers and real estate brokers, who say it will shift the tax burden to commercial properties. The proposal would be an amendment to the state Constitution, requiring approval from two consecutive annual sessions of the Legislature, as well as state voters in a ballot referendum. It would exempt the first $60,000 of a home's value from being figured into the homeowner's property tax bill for the local school district, said Joe Murray, a lobbyist for the Wisconsin Realtors Association. That will have a huge political appeal for many voters, Murray said at a Wednesday commercial real estate seminar, sponsored by the National Association of Industrial and Office Properties Wisconsin Chapter. He said it's estimated that the average homeowner would see a 20% drop in property taxes, amounting to a $570 annual savings.

The author of a report on clean-energy jobs across the country says states are competing heavily to attract businesses and create jobs in renewable energy, energy efficiency and related fields. To recap, the report found Wisconsin was losing jobs in the clean-energy sector between 1998 and 2007, at a time when those jobs were expanding nationwide. “ Wisconsin was somewhat of a rarity," she said. " Wisconsin was one a few states where that occurred.” Grange said she couldn’t comment specifically on the deliberations taking place in Madison concerning the state budget.

The sluggish economy is dominating the priorities for a lot of Wisconsin executives, and unease over the state's business climate is rising, according to a survey of 32 directors of Wisconsin Manufacturers & Commerce. The state's leading business group reports Thursday that most of the executives surveyed see the downturn as the biggest challenge to their companies and that many expect job cuts in the next year, as well as lower wage increases and less spending on training. So many of the respondents - 83% - cited the recession that such issues as health care and competition didn't even register among the prime concerns facing businesses. Some 41% forecast workforce reductions, compared with 16% in a similar survey the year before; 28% anticipated declining business conditions for their company in the next six to 12 months, up from 13% the year before.

Pending legislation to require Wisconsin developers to pay prevailing wage on projects receiving $1 million or more of public cash carves out an exception for developers of affordable housing. But, there's a catch, attorney Sarah Jelencic said at a Wednesday commercial real estate seminar, sponsored by the National Association of Industrial and Office Properties Wisconsin Chapter. Affordable apartments, aimed at low- and moderate-income seniors and families, are exempted only if they're not part of a mixed-use project, said Jelencic, of Foley and Lardner.

The issue of whether City Hall should be more aggressive in helping finance development, including a high-rise apartment building proposed for downtown, came up at Tuesday's meeting of the Common Council's Zoning, Neighborhoods and Development Committee. Ald. Robert Bauman said the city should consider a more aggressive approach in providing financing. That usually comes in the form of tax incremental financing (TIF) districts, where city funds are repaid by a new development's property taxes. Bauman said New Land Enterprises was ready to build a luxury apartment high-rise at the northeast corner of E. Kilbourn Ave. and N. Van Buren St. He said New Land had arranged for a constructon loan from a union pension fund.

There are now 10 separate lawsuits filed by people seeking to back out of their agreements to buy condominiums at the Park Lafayette development on Milwaukee's east side. Most of the suits, all pending in Milwaukee County Circuit Court, argue that developer Renaissant Lafayette LLC started construction on the project’s second tower before it reached the proper level of condo sales. As a result, Renaissant Lafayette broke its contracts with the buyers and should return their earnest money, the suits say.

Milwaukee restaurateur Marc Bianchini, operator of Osteria del Mondo and Cubanitas, is hoping to open a Mexican restaurant in the former Cameron's Steakhouse space at Bayshore Town Center.The proposal cleared the Community Development Authority on Tuesday in Glendale, but the financial parts of the deal aren't complete yet. Plans call for a high-end eatery named Coa that would include outdoor seating. Also approved Tuesday by Glendale is a plan for an upscale sporting equipment store, Erehwon Mountain Outfitters, for 12,000 square feet on the west side of the center, in the large building along Port Washington Road. Erehwon is a small chain that has stores in the Chicago area and an outlet store in Madison. The Erehwon deal also isn't set in stone yet.

The state budget the Legislature takes up this week would change your life, have the potential to change it or cost you more. You would have to buy more car insurance coverage, raising your premiums. Police could stop your car if they think you haven't buckled your seat belt. The state tax on a pack of cigarettes would rise 75 cents, to $2.52. There would be a new 75-cent monthly charge on each phone line. And you'd get less of an income tax break on capital gains profits. It also authorizes a 1% local sales tax in Milwaukee Co unty for a new regional transit authority, which would subsidize the county bus system and cost the average household $228 a year, according to the Legislative Fiscal Bureau.

Ten of the largest financial institutions in the nation were given the go-ahead by the U.S. Treasury Department today to repay $68 billion in funds they received as part of the government's almost $200 billion bank bailout program. "These repayments are an encouraging sign of financial repair, but we still have work to do," said Treasury Secretary Timothy Geithner in a statement. According to MarketWatch.com, the banks that are allowed to pay back the funds from the Troubled Asset Relief Program (TARP) are: J.P. Morgan Chase & Co.; Goldman Sachs Group Inc.; Morgan Stanley; American Express; Bank of New York Mellon; State Street; U.S. Bancorp; BB&T Corp.; Capital One Financial Corp.; and Northern Trust Corp. As part of the bank bailout program, known as the Capital Purchase Program, the 10 institutions eligible to repay TARP have the right to repurchase warrants the Treasury holds at fair market value.

The City of Cudahy submitted the winning bid in a Milwaukee County Sheriff's Department auction this week to purchase the 31.2-acre site of the failed Iceport development at the southeast corner of Nicholson and Layton avenues. The city's bid for the property was $10 million, but city officials said that since Cudahy held the $34.8 million mortgage for the property, the city will only have to pay the Sheriff's fee, which is under $500. The auction was the result of a foreclosure action that the city took against the Iceport developer, Sportsites LLC.

The City of Whitewater today announced that its Community Development Authority, in collaboration with the University of Wisconsin-Whitewater, has launched a campaign to attract businesses to the area. The theme of the campaign is "Discover Your Center of Opportunity," and it is targeting more than 6,000 businesses in the region bounded by Milwaukee, Chicago and Madison. The Community Development Authority worked with noted UW-Whitewater professor Dr. James Peltier and his company, Applied Research PhD, to develop the campaign's plan. Its first phase, which began recently, is a five-postcard direct mail campaign aimed at executives in the region.

Foreclosure rates in the metro Milwaukee area have decreased in April. Foreclosure rates in the metro Milwaukee area have decreased in April compared to April of 2008, according to First American CoreLogic, a collector of national, state and local data on home prices, foreclosure and delinquency activity, real estate sales volume and mortgage loan activity. According to recent data from First American CoreLogic on foreclosures for the Milwaukee-Waukesha-West Allis area, the rate of foreclosures among outstanding mortgage loans is 1.51 percent for the month of April, a decrease of -0.10 percentage points compared to April of 2008 when the rate was 1.61 percent. Foreclosure activity in Milwaukee-Waukesha-West Allis is lower than the national foreclosure rate which was 1.8 percent for April 2009, representing a 0.29 percentage point difference.

Monroe Street merchants are relieved that the city will postpone to at least 2011 a major street construction and resurfacing project between Regent Street and Odana Road originally scheduled for next year. "We all just had a really bad fourth quarter (in 2008) like everybody else," said Ellen Rosner, owner of Indigo Moon, 1809 Monroe St., a women's clothing store. "We felt that we could use another year to recover from the recession."

The Obama administration is dropping hints that a proposed Midwest high-speed rail network connecting Minneapolis, Madison and Chicago has a good chance of landing part of the $8 billion in federal stimulus earmarked for passenger trains. Vice President Joe Biden last week called the Midwest plan "one of the most comprehensive plans that have been put forward so far." These comments came following a White House meeting with eight governors, including Gov. Jim Doyle of Wisconsin.

There's an audible quality to the century-old, wide-board pine flooring that lets visitors know immediately they're inside a historic building. "We're going to clean up the floors, but we don't want to lose that squeak," says Kathy Gile, manager of the Patches & Petals quilting shop that now occupies the circa-1905 storefront that used to house a furniture store and funeral parlor here on Main Street.

Home sales in the metro area declined overall in May even as Milwaukee County saw its second straight month of gains, newly released figures show. The number of existing homes sold through Realtors in May declined 8.7% in the four-county Milwaukee area compared with the same month last year, according to numbers released Wednesday by Metro MLS Inc. of Wauwatosa Milwaukee County saw an increase in existing home sales of 1.9% in May, according to MLS data. Elsewhere across the metro area, Waukesha County saw a 20% drop, while Ozaukee County saw a 25% drop and Washington County saw a nearly 27% drop. There were 1,267 metro-area homes sold by Realtors during May of this year compared with 1,387 in the same month last year.

The first project is expected to consist of three to five turbines just off the shore of Cleveland in Lake Erie. The project is being pushed by the Cuyahoga County government as a strategy to help develop a wind-power manufacturing industry in a state that's been hit hard by cutbacks in the auto industry, The first wind turbine development on the Great Lakes could be built within three years or so, experts on offshore wind power said during a conference Wednesday in Milwaukee. The first project is expected to consist of three to five turbines just off the shore of Cleveland in Lake Erie.

After years of booming construction on Wisconsin lakes, state officials on Wednesday proposed the first substantial rewrite of waterfront zoning regulations in four decades. The biggest change in the closely watched rule package would eliminate a controversial measure that often has limited property owners from making improvements to homes within 75 feet of the shoreline.

Schools in Menomonee Falls, Milwaukee and Racine were among 79 statewide that failed to meet accountability requirements under federal law for the second year in a row, the state Department of Public Instruction announced Tuesday. As schools identified for improvement, they face a possibly escalating series of sanctions, from allowing parents to send their children to higher-performing schools to providing tutoring for eligible students to restructuring.

Midyear Milwaukee County budget cuts and unpaid furloughs will mean longer grass and more uncollected trash in county parks, closure of two indoor pools this summer, a new $1 fee at wading pools, delayed response to senior citizens' calls and less public access to county buildings, supervisors learned Tuesday. Supervisors also discovered, to their surprise, that County Executive Scott Walker's administrators are prepared to send more than 300 layoff notices Friday as county unions mull a legal challenge to 35-hour workweeks that would start June 28.

The village will lay off 17 employees this month, immediately reduce spending in most departments and impose unpaid furloughs of one day a month for most employees until further notice to offset projected revenue reductions of $580,000, Administrator David Schornack said Monday. A dramatic drop in building activity reduced permit fees received by the village, at the same time that interest on investments dropped and local taxes collected on motel and hotel rooms declined, he said in describing the major revenue trouble spots in the 2009 budget.

Combine “the natural wonders of the upper Mississippi River,” an “active outdoor culture” and affordable housing and what do you get? Noticed.
U.S. News & World Report magazine has named La Crosse one of the nation’s 10 Best Places to Live, ranking with Albuquerque, N.M., Austin, Texas, and St. Augustine, Fla. “This is huge. To get on U.S. News’ list is an outstanding honor,” City Planner Larry Kirch said. “This confirms everything that community and business leaders have been working on for the past 10 to 15 years.” Magazine staff said its first annual listing of Best Places to Live was compiled by its editors, who chose from 2,000 locations nationwide. The cities are featured in the magazine’s July issue; the article also is available online.

The world's airlines will collectively lose $9 billion this year -- nearly double the previous projections -- and face a slow recovery as the economic crisis saps air travel and cargo demand, an industry body warned Monday. The International Air Transport Association, which represents 230 airlines worldwide, increased its loss estimate from the $4.7 billion it forecast in March, reflecting a "rapidly deteriorating revenue environment." Although there has been growing signs of a bottoming out of the recession, IATA said the industry was severely hit in the first quarter with 50 major airlines reporting losses of more than $3 billion. Weak consumer confidence, high business inventories and rising oil prices pose headwinds for future recovery, the association said during a two-day global aviation conference in Kuala Lumpur.

The brute force of the recession earlier this year turned back the clock on Americans' personal wealth to 2004 and wiped out a staggering $1.3 trillion as home values shrank and investments withered. Net worth, or the value of assets such as homes, checking accounts and investments minus debts like mortgages and credit cards, declined 2.6 percent in the first three months of the year, the Federal Reserve said Thursday. Those months were some of the worst of the recession so far for job losses, and the stock market sank to its lowest point of the year in March. Since then, some signs suggest the economy is stabilizing. Still, partly because of the carnage earlier in the recession, Americans are putting plans on hold until the economy improves.

President Barack Obama visits Green Bay on Thursday, as his administration begins a final push toward the most sweeping changes in the nation's health care system since Medicare was introduced in 1965. With Congress working to pass legislation by early August, the once-improbable goal of significant health care reform stands a chance of becoming a reality "The big story here is how far and how fast health care reform has come in 2009," said Jonathan Oberlander, a professor at the University of North Carolina-Chapel Hill, who has written extensively about the obstacles to such reform.

Marshall & Ilsley Corp. announced Thursday that it has begun a public offering of $400 million of its common stock for sale to the public. The bank, Wisconsin's largest, said it intended to use the net proceeds, estimated to be approximately $384 million, for general corporate purposes and may contribute some portion of the net proceeds to the capital of its subsidiaries, which will use the contributions for their general corporate purposes. The underwriters in the offering will be granted an option to purchase up to an additional 15% of the shares sold. Morgan Stanley Inc., and Barclays Capital Inc., are acting as joint book-runners for the M&I offering. The bank had said late last month that it would sell up to $350 million in common stock.

Seeking to cut costs by consolidating operations, Rockwell Automation Inc. will close two factories next year that together employ about 300 people. The Milwaukee-based firm plans to shut down its plant in Dublin, Ga., by July 2010 and its factory in Sumner, Iowa, about 80 miles northwest of Dubuque, the following December. The Dublin factory, with about 145 employees, makes printed circuit boards and other components for Rockwell's industrial automation products. Sumner, with 163 workers, turns out products for power controls and industrial automation. Production from the two plants will move to factories in Mexico, Wisconsin and Ohio. No jobs will be added in Wisconsin as a result, Rockwell spokesman John Bernaden said. Rockwell has not yet released its expected one-time costs to close the plants. Bernaden said he believed both factories are leased.

Wisconsin 's clean-energy economy is smaller than the national average and lost jobs between 1998 and 2007, a new report published Thursday says. Wisconsin employed more than 15,000 jobs in the clean-energy sector, according to a study by the Pew Charitable Trusts. But employment in the clean sector fell 5% during that decade, at a time the state's overall job growth was more than 3%, according to the report. As a result, the company ranks with Maryland, Utah and West Virginia as states where the clean-energy sector is described as “small and losing.” Despite that stark description, Wisconsin ranked well in one area, the report found. With 2,801 people employed in the energy efficiency field, Wisconsin employed more people in this area than all but five other states.

Gov. Phil Bredesen on Thursday expressed doubt about whether Tennessee can afford the financial demands from General Motors Corp. to select its Spring Hill plant to build a new small car. The Democratic governor said it became clear in meetings with GM officials this week that the bankrupt automaker wants a large cash payment from Tennessee to pick Spring Hill over Orion, Mich., or Janesville. Tennessee's incentive packages are usually heavy on long-term tax credits, training and infrastructure improvements. Bredesen said the state doesn't have "a lot of spare money available to make large upfront payments."