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Development News for the week 1/24/09 to 1/30/09
MARCUS WON'T INCLUDE BUS, BIKE FACILITIES IN FAR EAST SIDE COMPLEX
Marcus Corp. won't have to include special bike and bus facilities at its proposed 16-screen movie theater complex on vacant land at U.S. 151 and Nelson Road.
The Madison Plan Commission Monday night OK'd a rezoning to allow development of a 47-acre parcel on the city's far eastern fringe. Milwaukee-based Marcus hopes to have the entertainment complex, including 12 lanes of bowling and a sports bar, open for the Christmas season of 2009. The project includes 900 surface parking spaces. There also is no transit service to the theater, which would employ 10 full-time and 250 part-time staff members.
BIZ ADVOCATE OFF TO STRONG START
The city of Madison's new economic development director appears energetic and knowledgeable - especially when it comes to regional cooperation and high-tech economic development. The hiring of Timothy Cooley last week suggests Madison is making progress on the important task of encouraging job creation and high-paying jobs. Cooley told the State Journal editorial board Tuesday he'll advocate for a friendly-business climate at City Hall. He also spoke optimistically about Madison eventually creating a one-stop shop for developers and others business people who need help navigating the city's bureaucracy.
MONONA MENARDS TO EXPAND
The Menards store in Monona could be getting bigger and that could help the redevelopment of the East Broadway corridor. The Eau Claire-based home-improvement company has submitted plans to the city of Monona for a $2 million to $3 million project that would increase the size of the store, create a new drive-thru warehouse and move some businesses to make way for the expansion.
MATC ENVISIONS NEW AREA CAMPUS MEANWHILE, THE COLLEGE WILL RENT SPACE IN THE FORMER FAMOUS FOOTWEAR HEADQUARTERS.
A vision for Madison Area Technical College's future that would include a new campus and a more welcoming "front door" at the Truax campus will be presented to the college's board today.
The 10-year plan would attempt to create identities for each of the campuses - including one proposed for either the Southwest Side or the Highway 18-151 corridor - based around programming, establishing Truax, on the North Side, as the flagship campus and its Downtown location as an applied and fine arts campus.
LIMBO ON LANGDON STREET THE CITY COUNCIL WILL MAKE THE FINAL CALL ON ACACIA HOUSE'S PROPOSED OVERHAUL
The Acacia Fraternity house, a stately three-story Tudor revival built in 1927 at 222 Langdon St., is badly in need of expensive repairs.
To pay for the redevelopment, the fraternity has formed a joint venture with the Alexander Company that calls for a new five-story apartment with 18 units to be built in a gravel parking lot fronting Lakelawn Place.
SMALL BUSINESS AN IMPORTANT ECONOMIC ENGINE
Small business is generally recognized to be a significant component of metropolitan economies and a major generator of new jobs. Consequently, the encouragement of entrepreneurial activity is an important element in many economic development efforts. There are many ways to measure small business. According to the U.S. Small Business Administration, Wisconsin had 116,137 small employers in 2005, representing 98 percent of the state's employers and 53.5 percent of its private-sector employment.
UW HOSPITAL PAYS MADISON FOR CITY SERVICES
UW Hospital will give $810,197 this year to the city of Madison as part of an $8.2 million payment for municipal services for state-owned buildings from the state of Wisconsin - a rare arrangement among nonprofit hospitals in the state. The payment includes UW-Madison facilities. The payment includes UW-Madison facilities.
Meriter Hospital and St. Mary's Hospital, nonprofits that are also exempt from property taxes, don't make such payments. Some nonprofit hospitals in Wisconsin and in other states make the payments, experts say, but national groups involved in the issue said they don't know how many.
MADISON'S HENSHUE CONSTRUCTION TO LAY OFF 66
Third-generation family business Henshue Construction, Inc. is the latest local casualty of the economic downturn. Henshue will lay off approximately 66 employees and permanently close its facility at 313 W. Beltline Highway on March 30, the Department of Workforce Development announced Tuesday. "Henshue has provided you with as much advance notice as was practicable under these circumstances," Henshue's court-appointed trustee Michael Polsky wrote in a letter sent Tuesday to the DWD, "considering the fact that Henshue is facing unforeseen business circumstances." State law requires employers to give 60 days' notice before a mass layoff or closing.
NEW MORTGAGES MORE PEOPLE GETTING LOW RATES AREA BANKS AND CREDIT UNIONS ARE SEEING A BOOM IN REFINANCING.
Mortgage money is cheaper these days but harder to get for some borrowers. So while homeowners flock to area banks and credit unions to apply for refinanced mortgages, hoping to cash in on low interest rates, not everyone can reap the benefits. Many who face foreclosure will be shut out because the higher fees assessed to borrowers with lower credit scores often wipe out the value of refinancing.
LOW RATES NOT REFLECTED YET IMPACT ON HOME SALES?
Low mortgage interest rates haven't boosted home sales yet, but real estate agents are optimistic that will happen. Last month, the sale of 285 homes and condominiums in Dane County represented an 18 percent decline from 348 sales in December 2007, according to a preliminary report by DaneCountyMarket.com, a Web site that tracks the local real estate market.
NEW CONSTRUCTION IN MADISON AREA DOWN 13% IN '08
New construction in the Madison metropolitan area dropped 13 percent in 2008 from 2007, according to statistics released Monday by McGraw-Hill Construction.
Residential construction took a huge hit in 2008, down 37 percent from a year before, while non-residential construction actually went up 10 percent from 2007. Total building dollar figures in the three-county metro area, including Dane, Columbia and Iowa Counties, showed $936,835,000 in construction activity in 2008 compared to $1,080,028,000 in 2007. Residential construction in 2008 totaled $341,320,000 compared to $537,734,000 in 2007, while non-residential construction totaled $595,515,000 in 2008 compared to $542,294,000 in 2007.
5.3M REMODEL OF STATE OFFICE BUILDING OK'D
The $5.3 million remodeling of the fourth floor of the GEF 3 state office building was unanimously approved Monday by the state Building Commission but not without a few questions raised about the price tag. Commission member Terry McGuire said the estimate to renovate 23,840 square feet of the 31-year-old General Executive Facility 3, 125 S. Webster St., "looked more like $200 a square foot," than the $75 per square foot quoted to the nine-member commission Monday by Peter Maternowski of the Division of State Facilities.
MARCUS WON'T INCLUDE BUS, BIKE FACILITIES IN FAR EAST SIDE COMPLEX
Marcus Corp. won't have to include special bike and bus facilities at its proposed 16-screen movie theater complex on vacant land at U.S. 151 and Nelson Road.
The Madison Plan Commission Monday night OK'd a rezoning to allow development of a 47-acre parcel on the city's far eastern fringe. Milwaukee-based Marcus hopes to have the entertainment complex, including 12 lanes of bowling and a sports bar, open for the Christmas season of 2009.
Around the State and Points Elsewhere
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TAPCO to move to Brown Deer
Traffic and Parking Control Co Inc. (TAPCO), an Elm Grove company that is benefiting from an increased desire for traffic safety and energy efficiency in the United States and internationally, is moving to larger headquarters in Brown Deer to accommodate business growth. TAPCO is doubling its size in its new headquarters and expanding its workforce. The company is renovating a former printing plant at 5100 W. Brown Deer Road., where it expects to move into the 128,000-square-foot building in March.
U.S. Bank working on redevelopment plan for parking structure
Milwaukee -based U.S. Bancorp is examining the possibility of redeveloping the 900-space parking structure located to the south of its 42-story office tower in downtown Milwaukee.U.S. Bank hired Brookfield-based Hammes Co. to help create a redevelopment plan for the parking structure. U.S. Bank has been working on the project with Hammes since last fall.
Seven developers respond to RFP for "net zero energy" development in Bay View
Seven development firms responded to a request for proposals from the city of Milwaukee for the former Army Reserve site in the Bay View neighborhood. The city solicited proposals for the purchase and development of the 5.6-acre site at 2372 S. Logan Ave. The developers that responded to the RFP include: Minneapolis-based Sherman & Associates, Milwaukee-based HD Development, the Housing Authority of the City of Milwaukee, Milwaukee-based Direct Current, North Carolina-based Traditional Neighborhood Design, Milwaukee-based New Land Enterprises and Milwaukee-based Vetter Denk.
First Pabst brewery residents move in Friday
Madison-based Gorman & Company announced that the first new apartment residents will move into its Blue Ribbon Lofts, in the former Pabst brewery complex, on Friday. Madison-based Gorman & Company announced that the first new apartment residents will move into its Blue Ribbon Lofts, in the former Pabst brewery complex, on Friday, Jan. 30.The first commercial office tenant, The Albion Group, in the complex moved into their new quarters in the former Boiler House building at 1243 N. 10th St, in the heart of the old Pabst Brewery, over the holidays. More than 25 employees occupy the first floor space, which was completed in late December.
Local retailers will get preference at The Brewery
Joseph J. Zilber announced that as part of the fourth phase of his redevelopment of the former Pabst brewery complex, local retail merchants will be given location priority and rental and/or build out assistance at the project. Zilber is transforming the former brewery complex into a mixed-use urban neighborhood. He has gutted and sold some of the buildings to other developers. "Today I am announcing the fourth phase of our development process, which is to give priority, in terms of retail space consideration with available assistance on rent and/or build out costs to retail establishments whose owners live and/or have retail establishments in Milwaukee and southeastern Wisconsin," Zilber said.
AUTO INDUSTRY LAYOFFS CONTINUE IN WISCONSIN
The Department of Workforce Development announced Monday that J.L. French Automotive Castings, Inc. plans to lay off many workers at its Taylor and Gateway Facilities in Sheboygan within the next few weeks. "The timing of this notice is occasioned by a sudden, dramatic and unexpected decline in J.L. French's customer production schedules which was not previously foreseeable," the company said in its notice to the DWD. J.L. French said it plans to permanently layoff 297 employees from its Sheboygan facilities. Most of those are union employees and the company said it will honor bumping and transfer rights. J.L. French is a prime manufacturer of aluminum castings for the automotive industry and others and last year announced it had obtained a contract to produce a new line of V6 engines for Hyundai at its Gateway facility.
Oshkosh Corp. cuts 1,050 more jobs
Oshkosh Corp. a manufacturer of specialty vehicles and vehicle bodies, today announced it has eliminated 1,050 more jobs and reported a first-quarter net loss of $20.6 million, or 28 cents per share, compared with a net income of $37.3 million, or 50 cents per share, in the same period a year ago.
The company's quarterly sales fell to $1.39 billion from $1.50 billion a year earlier. Oshkosh Corp.'s latest job cuts, which reduced its work force by 7 percent, come atop a previous round of 1,400 layoffs last summer.
BILL HAS $4.3 BILLION FOR STATE PROPONENTS SAY STIMULUS PLAN WILL KICK-START ECONOMY
The House version of a federal economic stimulus bill would deliver more than $4.3 billion to Wisconsin over the next two years, under details of the bill released Friday.
That figure includes nearly $18 million for Madison schools and millions more for other local districts. "I'm very pleased by this. We know this is a difficult time, but at the same time there are needs that our children have that can't go unmet," said Dan Nerad, Madison schools superintendent. "I'm very hopeful. I'm very optimistic and we'll see what comes."
Resident wants to move, save houses from being razed
Resident wants to move, save houses from being razed. Numerous obstacles remain for project to gain approval. The city has plans to demolish four residential buildings to make room for a new fire station on Underwood Avenue, but one resident has proposed moving two of the homes to a property on Wauwatosa. Mark Rider, an engineer with project management experience, said saving two buildings — a single-family home at 1531 and a duplex at 1613/1615 Underwood Avenue — makes good fiscal sense because it would cost the city less to remove two properties, less tax revenue would be lost and it would reuse resources. Development Committee.
GREAT WOLF GETS LOAN RESPITE
Great Wolf Resorts late Friday said it has negotiated another extension of the mortgage loan on its Mason, Ohio, property. The Madison indoor waterpark resort developer initially faced a Nov. 30, 2008, maturity date for its $76.8 million mortgage loan on the Ohio resort. But after two short-term extensions, Great Wolf now will have until Nov. 30, 2009, to pay off the loan, with some additional terms.
IBM CENTER TO BENEFIT STATE FACILITY WILL EMPLOY 1,300 IN DUBUQUE, IOWA
If Wisconsin ever was in the running for an IBM service center expected to employ up to 1,300 workers, state and local economic development officials weren't aware of it.
The computer giant said last week that it was opening the $100 million facility in Dubuque, Iowa, just across the Mississippi River from the Badger state and about 90 miles southwest of Madison. "IBM did not contact us" about the project, said Tony Hozeny, a spokesman for the Wisconsin Department of Commerce. Officials with Thrive, an eight-county economic development group covering south-central Wisconsin, also said it was never approached
Business zoning, funding aid exists
Business zoning, funding aid exists. Janesville Road project could prompt owners to make upgrades. Loans, grants, special rezoning options and the expertise of city officials are all available to help property and business owners who will be affected by Waukesha County’s reconstruction. Loans, grants, special rezoning options and the expertise of city officials are all available to help property and business owners who will be affected by Waukesha County’s reconstruction of Janesville Road, scheduled for 2011 and 2012.
Developer: Market looks good for hotel
Developer: Market looks good for hotel. A Pennsylvania developer told Brookfield’s Common Council that he was excited about bringing an extended-stay Hyatt hotel to the city, but some neighbors and aldermen at a Jan. 20 public hearing said they had concerns about the need for the hotel and... its effect on neighbors. Rob Cicco of Pittsburgh-based Oxford Development said Oxford plans to build a 129-room extended-stay Hyatt Summerfield Suites on the southern section of Executive Drive west of Brookfield Square.
Residents worry about plans for park expansion
Residents worry about plans for park expansion. City wants to protect park; neighbors fret about traffic. The city wants to rezone a portion of Lilly Heights Park in northeast Brookfield but neighbors are concerned about how a potential expansion of the park would affect area traffic. Lilly Heights Park is a 34-acre facility off Lilly Heights Drive west of Lilly Road and north of Capitol Drive. The city plans to convert Lilly Heights Park, presently designated a neighborhood park, to a regional park by adding more facilities and parking at the site.
Dollar Tree coming to City of Delafield - Will fill vacant space at Walmart Center
Dollar Tree coming to City of Delafield - Will fill vacant space at Walmart Center. A Dollar Tree store will open at the Walmart Center shopping center near the Highway 83 and I-94 later this year, according to the property managers of the shopping center. A 1,100-square-foot Dollar Tree store will open at the Walmart Center shopping. The new tenant will fill vacancies created by a series of business closings that included Blockbuster Video, Board Wurx, the Little Gym and WG&R Sleep shop.
Oconomowoc on track with high-speed rail plan
Oconomowoc on track with high-speed rail plan. When it comes to supporting rail service between St. Paul, Minnesota and Chicago, Oconomowoc's city leaders are all aboard. When it comes to supporting rail service between St. Paul, Minnesota and Chicago, Oconomowoc's city leaders are all aboard. With the unanimous support of both the Common Council and Public Services Committee, Mayor Maury Sullivan became of one 17 mayors from Minnesota and Wisconsin who signed a letter addressed to Minnesota Congressman Tim Walz recommending support of a plan that includes two goals: the immediate addition of a second daily train between Chicago and St. Paul and the implementation of the Midwest Rail Initiative.
Development News for the week 1/17/09 to 1/23/09
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Three new buildings proposed at Badger Bus depot site
The owners and operators of the Badger Bus depot are proposing a major redevelopment of their property at the corner of West Washington Avenue and Bedford Street. Plans call for razing the existing bus depot and constructing three new buildings to include 84 luxury apartments, 12,500 square feet of retail space and parking for 110 vehicles both above and below ground. The buildings would range in height from three stories along West Main to five stories along West Washington. The bottom floors would have commercial space and entries for individual townhouse units, said Randy Bruce of Knothe & Bruce architects.
Plan for Sun Prairie Woodman's grocery delayed
The construction of a Woodman's Food Market in Sun Prairie will be delayed after the Janesville company announced Wednesday that it wants to first build its second Milwaukee-area store. Clint Woodman, vice president of the 12-store discount food chain, said he envisions a 225,000-square-foot Woodman's at the corner of highways C and 151 within the next five years, possibly by late 2011 or 2012, instead of by next year.
Associated reports drop in earnings
Associated Banc-Corp of Green Bay, parent company of Associated Bank, reported net income of $165 million, or $1.29 per common share, for 2008, down from $286 million, or $2.23 per common share, for the previous year.
During the fourth quarter, the company reported net income of $14 million, or 11 cents per common share, down from $65 million, or 51 cents per common share, for the same period of 2007.
Amcore reports fourth-quarter loss
Amcore Financial of Rockford, Ill., parent company of Amcore Bank, reported a net loss of $97.8 million for 2008, including a net loss of $32.1 million during the fourth quarter. The loss per diluted share was $4.32 for the year and $1.42 for the quarter. The fourth quarter's net charge-offs were $55.9 million, up from $4.8 million during the fourth quarter of 2007. The provision for loan losses was $57.5 million, up from $6.4 million a year ago.
MORE STATE WORKERS LOSE JOBS, INCLUDING 101 CIRCUIT CITY EMPLOYEES HERE
The slumping economy claimed another huge chunk of Wisconsin employees this past week, according to the latest list of layoff notices released Tuesday by the Wisconsin Department of Workforce Development. In all, 1,159 employees at five companies will lose their jobs, with four of the five layoffs involving retail chains and only one layoff coming from a manufacturer.
CITY PICK 'N SAVE TO BE COPPS SOUTHWEST SIDE GROCERY ALSO IS BEING RENOVATED
When renovations are completed at the Pick 'n Save store on the city's Southwest Side, there will be more checkout lanes, larger deli and meat counters and an expanded frozen foods section. The 55,000-square-foot store in the Maple Grove Shopping Center also will get a new name but one familiar to area shoppers.
VACANCIES COMPANIES WITH MADISON ROOTS CLOSE SHOP
The "For Sale" signs haven't yet gone up but General Electric could soon be seeking a buyer for an $11 million building in the Old Sauk Trails Business Park in Middleton. Unveiled with much fanfare in 1999, the 167,000-square foot building at 726 Heartland Trail has been the home of Lunar Corp., one of the area's first "high-tech" success stories. The company makes machines that measure bone mineral density.
Madison's TomoTherapy partners with Hitachi in Japan
TomoTherapy, the Madison-based radiation therapy company, is partnering with Hitachi Medical Corp. to market and sell TomoTherapy's Hi-Art cancer treatment system in Japan. The distribution agreement was announced by TomoTherapy officials on Tuesday. "This agreement represents a significant opportunity for us to reach new customers and help advance the quality of cancer care across Japan, the second-largest radiation therapy marketplace in the world," said Fred Robertson, TomoTherapy chief executive officer.
Passenger totals at Dane County Regional Airport increase in December
Passenger traffic rose last month at the Dane County Regional Airport, according to an activity report issued this week. The number of departing airline passengers was up 5.7 percent to 61,681 from December 2007 while the number of arriving passengers was up 1.7 percent to 57,418. The higher numbers came despite flight cancellations for 1.5 days in December due to fog, said airport spokeswoman Sharyn Wisniewski.
UW School of Business forums push 'green' economy
With the hope of both protecting the environment and creating good-paying jobs in the state, UW-Madison's School of Business will offer a "Sustainability Meets Entrepreneurship" series to provide UW students and members of the community access to experts on clean technology, alternative energy and a "green economy."
"There are tremendous opportunities that lie ahead in building green industry in Wisconsin," said Lt. Gov. Barbara Lawton, who was instrumental in getting the series up and running. "I think this is an area where we're going to see sustainable job creation -- jobs that are going to stay."
Capital Newspapers cuts staff
Capital Newspapers, which publishes the Wisconsin State Journal and The Capital Times, said Monday it is reducing its staff by about 12 full-time equivalent positions, most from the two newsrooms. Company leaders cited the difficult economy as a move for the downsizing, which will come from a combination of voluntary and involuntary job reductions. Employees losing their jobs will receive a severance package comparable to previous reductions, based on years of service.
New West Side home could be first in state with highest LEED rating
The dark colors and modern design of a new two-story house on Madison's West Side contrast with the pastels and traditional frame design of surrounding homes. An architect and retired engineer are hoping the home they're building at 3730 Ross St. will be the first house in Wisconsin to qualify for the highest LEED (Leadership in Energy and Environmental Design) platinum rating by the U.S. Green Building Council. The platinum rating requires at least 93.5 points on a checklist that includes about 45 energy and environmental categories.
Around the State and Points Elsewhere
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Kohler making more job cuts
The recession continues to take a heavy toll on Kohler Co., where company officials confirmed Monday that 188 employees were laid off in the fourth round of job cuts to hit the company since October. The affected workers, who are part of the company's global power group and corporate operations, were let go Friday, according to company spokeswoman Kristine Cristina. They include 112 production employees and 76 administrative workers.
City moves closer to creating housing authority
City moves closer to creating housing authority. The Cudahy Community Development Authority this month authorized a $10,000 contract with former Kenosha Mayor John Antaramian to creating a housing authority...
After reconsideration, new zoning district put on hold
After reconsideration, new zoning district put on hold. Classification approved with three trustees excused. A desire to keep a promise to residents on the eastern edge of the village has prompted the Germantown Village Board to reconsider an earlier decision to create a new zoning classification...
Rezoning needed for station as approvals run out of gas
Rezoning needed for station as approvals run out of gas. Andy’s would open at former 7-11 spot. After standing vacant for more than six months, an Appleton Avenue gas station that closed suddenly soon could reopen with a new name...
Senior apartment complex needs rezoning
Senior apartment complex needs rezoning. $6.3 million facility would have 76 units. A public hearing will be held next month to rezone less than two acres to accommodate a proposed three-story, 76-unit facility for seniors near the intersection of College and Packard avenues...
Office building could be demolished for senior complex
Office building could be demolished for senior complex. The Brown Deer Plan Commission will consider a revised certified survey map for the proposed 66-unit senior housing complex that would be built on the former Kohl’s Food Store site at Sherman Boulevard and Bradley Road...
RedPrairie stirs new city debate - Alderwomen say city needs to be more proactive
RedPrairie stirs new city debate - Alderwomen say city needs to be more proactive. The city should become more proactive in defining the future commercial development of 25 acres of land adjacent to Highway C and I-94 interchange, according to Alderwoman Michelle DeYoe.. The city should become more proactive in defining the future...
M&I seeks foreclosure on 52 Franklin condo units
M&I seeks foreclosure on 52 Franklin condo units. Marshall & Ilsley Bank has filed a foreclosure action against the developers of a condominium project in Franklin...
District’s Chapman land may soon change hands
District’s Chapman land may soon change hands. Sale would help finance new administrative center. The Greenfield School Board has approved a purchase agreement for $6.1 million for the sale of its Chapman Avenue district office property...
Merged banks have a new name: Westbury
Merged banks have a new name: Westbury. The bank formed by the merger of West Bend Savings Bank and Continental Savings Bank will be called Westbury Bank, top executives of the bank said Monday The new name, chosen with help from the marketing and communication firm Cramer-Krasselt, is intended to stress the nature of the merged bank and avoid sounding large and institutional, said Ray Lipman, who was chief executive of West Bend Savings and holds the same title at Westbury since the merger closed Dec. 3.
Gatehouse wanted $18 million in TIF for Palomar project
Dallas-based Gatehouse Capital wanted the city to provide $18 million in tax incremental financing (TIF) to assist its $158 million Milwaukee Hotel Palomar and Residences development in the Park East corridor, according to documents obtained from the city in an open records request by BizTimes Milwaukee.
State headlines: Reinhart Cos. may close seven stores
As many as 363 jobs could be lost at La Crosse-based Reinhart Cos. businesses by the end of March, according to filings with the state Department of Workforce Development. Read more in BizTimes Milwaukee's daily roundup of headlines from newspapers across the state at…
RedPrairie drops plans to move HQ to Delafield
RedPrairie Corp. has shifted course, deciding to cancel its plans to move its headquarters to a new building in Delafield. Instead, the company announced today, it has renewed its lease with Liberty Property Trust for its current space at the Crossroads Corporate Center along Interstate 94 in the Town of Delafield. “(Last) year, RedPrairie announced intentions to move to Delafield," Mike Mayoras, chief executive officer of RedPrairie, said in a statement to the media.
Milwaukee County issues RFP for Park East property
Milwaukee County has issued a request for proposals (RFP) for a 100,000-square-foot Park East corridor site along North Milwaukee Street, North Water Street, North Broadway and East Ogden Avenue. Chicago-based RSC & Associates originally planned to develop the block with housing and commercial space, but the company dropped those plans last summer and is still yet to begin construction on an adjacent Park East lot that it purchased from the county.
More retailers closing shops in Wisconsin
The recession is prompting retailers throughout Wisconsin to close stores and slash jobs, according to mandatory filings with the state Department of Workforce Development (DWD) this week. The DWD reported the following Worker Adjustment and Retraining Notification (WARN) notices as of Tuesday: Reinhart Retail Group, La Crosse, announced the closing of several of its nine stores and the elimination of 363 jobs in Ladysmith, La Crosse, Rice Lake and Cornell.
Cub Foods has announced the closure of four Wisconsin locations, eliminating a total of 319 jobs in Beloit, Green Bay and Madison.
Feds approve funds for Barrett's foreclosure plan
Milwaukee Mayor Tom Barrett has been notified by the U.S. Department of Housing and Urban Development (HUD) that the city's action plan to spend its $9.2 million Neighborhood Stabilization Program (NSP) allocation has been approved. The city's plan includes assistance for homebuyers purchasing foreclosed properties, rental unit rehabilitation, large project rental development, acquisition, rehabilitation and resale for homeownership, demolition of unsafe structures and a land bank.
PDS to acquire Sheboygan firm
Oconomowoc-based Paragon Development Systems Inc. (PDS) announced today it has acquired Provident Technologies Inc. of Sheboygan. Provident Technologies is a Novell Platinum partner specializing in identity management and Linux-based solutions with engineering and sales divisions in Sheboygan, Madison and Milwaukee. Provident also is an authorized sales and service repair facility for Hewlett Packard and Samsung printers, HP workstations, laptops and tablet PCs.
Foreclosure expert says housing market will rebound in ’09
The nation’s foreclosure hemorrhage has finally slowed and 2009 should see a significant decline in foreclosures as buyers return, pushing home prices up and fueling a real estate recovery, according to the 2009 Outlook from Foreclosures.com. “Recovery is underway. Affordable is back in the housing market,” said Alexis McGee, president of Sacramento, Calif.-based Foreclosures.com. “In 2009, housing will not only recover, but we’ll see buyers leap into this market in droves, depleting our housing oversupply, and actually put higher price pressures on the market.”
Harley says it will cut 1,100 jobs, after dismal fourth quarter
Harley says it will cuts 1100 jobs after dismal 4th quarter. Wisconsin 's jobless rate in December jumped to a level not seen for the month in more than 20 years.
The rate, an indicator of people unable to find work, climbed to 5.8% from 4.6% in December 2007. That was 0.5 percentage point higher than November and was the highest rate for December since 1986, according to Department of Workforce Development figures released Thursday.
Wisconsin jobless rate for December highest since 1986
Wisconsin 's jobless rate in December jumped to a level not seen for the month in more than 20 years. The rate, an indicator of people unable to find work, climbed to 5.8% from 4.6% in December 2007. That was 0.5 percentage point higher than November and was the highest rate for December since 1986, according to Department of Workforce Development figures released Thursday.
Critics and champions debate Wisconsin's attempt to woo Hollywood
Every year for the past decade, the biggest customer at the Columbus Antique Mall has been Famous Dave's barbecue. The franchise regularly bought up bric-a-brac to decorate the restaurants' walls.
Until last year, that is, when the biggest spender was Universal Studios. The set decorator for "Public Enemies" shopped there daily while the John Dillinger biopic was shooting in Columbus last March. The production crew snapped up more than $5,000 worth of relics (for its Depression-era set) — everything from a fur coat to vintage furniture — at the three-floor, 82,000-square-foot megastore.
2 more state banks get federal funds
Two Wisconsin banks were included Thursday in a U.S. Treasury Department announcement of a $1.5 billion investment in 39 banks. The investment was made through the Capital Purchase Program, a part of the Troubled Asset Relief Program (TARP) to help stabilize and strengthen the financial system. Baraboo Bancorporation of Baraboo, parent company of Baraboo National Bank and the State Bank of Viroqua, will receive $20.7 million in TARP funds while First Manitowoc Bancorp, parent company of the First National Bank of Manitowoc, will receive $12 million.
Clear Channel cuts 1,850 jobs companywide
Clear Channel Communications, which operates seven Madison radio stations, cut 1,850 jobs in its corporate, outdoor advertising and radio divisions nationwide this week. Jeff Tyler, vice president and market manager of Clear Channel Radio Madison, referred all questions about Madison layoffs to officials at Clear Channel's national headquarters in San Antonio. But Clear Channel spokesman Ray Yeung said Clear Channel "is not breaking numbers down by geography or business function."
American Superconductor gets multimillion dollar Chinese wind order
American Superconductor Corp., which has its wind power unit based in Middleton, on Thursday announced that it has received a multimillion dollar order for 100 sets of its wind turbine core electrical components from China's CSR Zhuzhou Electric Locomotive Research Institute Co. Ltd. The Chinese firm will use the components in 1.65-megawatt wind turbines designed by American Superconductor's Windtec subsidiary. The announcement comes two days after Devens, Mass-based American Superconductor said it expects to report a fiscal third-quarter loss wider than Wall Street was expecting, due to higher-than-expected costs and a charge on excess inventory .
Microsoft to cut 5,000 jobs
Microsoft Corp. said Thursday it is cutting 5,000 jobs over the next 18 months, a sign of how badly even the biggest and richest companies are being stung by the recession. The layoffs appear to be a first for Microsoft, which was founded in 1975, aside from relatively limited staff cuts the software company made after acquiring companies. The company announced the cuts as it reported an 11 percent drop in second-quarter profit, which fell short of Wall Street's expectations. Microsoft shares plunged 7 percent in morning trading.
Development News for the week 1/10/09 to 1/16/09
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DAIRY SITE ON PARK ST. IS SOLD THE FORMER BANCROFT DAIRY SITE ON THE SOUTH SIDE IS PURCHASED BY A CHICAGO DEVELOPER.
A Chicago development company has purchased the former Bancroft Dairy site at the intersection of Fish Hatchery Road and South Park Street with aspirations for a hotel at the high-profile location. Wingra Point LLC, an affiliate of Clark Street Development of Chicago, said Friday that it had acquired the 3.3-acre former dairy. The purchase includes a parking lot on the other side of Fish Hatchery Road and a small grassy area along Park Street.
FITCHBURG MAY GET ALDI GROCERY
More stores, including an Aldi grocery, may open later this year in the Orchard Pointe development in Fitchburg. A developer for part of the 109-acre development, near the intersection of Verona Road and Highway PD, is also proposing a Famous Footwear shoe store and a Maurices clothing store.
A LARGE PORTION OF DANE COUNTY WORKERS LIVE OUTSIDE COUNTY
The U.S. Census reported that in 2006 more than 100,000 of the approximately 300,000 jobs in Dane County were filled by people living outside the county. However, only 36,000 jobs outside Dane County were filled by Dane County residents. The result was a net outflow of wages and salaries of $1.3 billion out of the county.
MAYOR: CITY WON'T PAY\ CIESLEWICZ REJECTS AN OVERTURE DEVELOPMENT CORP. PROPOSAL THAT ASKS THE CITY TO HELP PAY OFF CONSTRUCTION DEBT.
The arts boosters who own and run the $205 million Overture Center want the city to help pay off $28 million in construction debt. But as lenders press for a solution, city leaders say they will have no part of it.
CITY FINANCE PANEL: OVERTURE DEBT PLAN NOT GOOD FOR TAXPAYERS
Members of Madison's financial committee expressed the prevailing city view on a proposal to retire the Overture Center's debt -- it's just not a good deal for the Madison taxpayer. The city's Board of Estimates met Monday night to discuss the proposal offered in late December by the Overture Development Corp. (ODC), which currently owns the Overture Center, to retire the center's remaining $28 million in construction debt.
OVERTURE PLAN CALLED 'OUTRAGEOUS'\ THE BOARD OF ESTIMATES REJECTED A CALL TO HELP WITH THE CENTER'S DEBT.
Members of the city Board of Estimates made it clear that they don't like the proposal from the owner of the Overture Center that would put taxpayers on the hook for $12 million to help Overture pay off its $28 million construction debt. Mayor Dave Cieslewicz put the proposal, which he received in a letter last week from the ODC, on the Board of Estimates agenda so he could get some idea how to respond.
$4 MILLION TO OVERTURE DEBT THE MADISON CULTURAL ARTS DISTRICT BOARD WILL KICK IN ITS RESERVES AS BANKS PUSH FOR A PLAN.
Unlike the city, the entity that runs Overture Center will help pay off $28 million in construction debt on the facility. The public Madison Cultural Arts District Board, which runs Overture, on Tuesday unanimously agreed to use $4 million - all its reserves - in a "share the pain" approach to help resolve the debt problem.
OLBRICH MASTER PLAN PUSHED ONTO AGENDA DUE TO GARVER REFERENDUM
A controversial long-range expansion "master plan" for Olbrich Botanical Gardens could be acted on as early as Wednesday evening, months before originally planned, because a proposed April referendum on the redevelopment of the old Garver Feed Mill in east side Olbrich Park is pushing the agenda. The master plan was not added to the Park Board of Commissioners agenda until Friday. And while the addition was posted at the city clerk's office as required by law, it did not appear on the online Park Board agenda until Tuesday, because of computer programming glitches.
STATE, COUNTY FILINGS HIGHER THAN IN 2007
FORECLOSURES
Dane County 's 103 new foreclosure filings last month were up 41 percent from 73 in December 2007, according to DaneCountyMarket.com, a Web site that tracks the local real estate market.
MADISON BIOTECH EMD CHEMICALS TO CLOSE SEVENTY EMPLOYEES WILL LOSE THEIR JOBS; SOME WILL HAVE A CHANCE TO TRANSFER TO CALIFORNIA.
A 20-year-old Madison biotechnology company will close by Dec. 31. EMD Chemicals - formerly Novagen - 441 Charmany Drive, told its 70 employees Thursday their jobs will end and their work will be consolidated into the company's San Diego site, part of a major restructuring that will eliminate 300 jobs nationwide. Three Madison employees lost their jobs Thursday in the first phase of the restructuring.
TRAFFIC JAM COMMUNITY CAR, MADISON'S CAR-SHARING SERVICE, HAS SOME COMPETITION
John McNamara used to curse a blue streak when the city snowplow truck would leave a big pile at the foot of his east side driveway. But this winter, McNamara is having the last laugh.
U-Haul car-sharing service expands in Madison
A car-sharing service run by U-Haul is beefing up its presence in Madison. U Car Share began a year ago as a pilot program in Madison and 12 other cities. Six PT Cruisers are available at the U-Haul center at
TOO MANY BUILDERS IN CITY ARE 'IGNORING' EROSION RULES\ USE OF FINES, STRONG ENFORCEMENT WILL BE PART OF REWRITTEN CITY ORDINANCE.
Builders who violate Madison's erosion laws on commercial construction sites will be facing tougher enforcement, including the possibility of more citations and fines, according to engineering officials who are rewriting the city's ordinances on the issue. "We've educated enough," said Larry Nelson, the city's chief engineer. "But it's time to move into enforcement like we do with anything else."
GREAT WOLF SHARES FALL ON MORTGAGE LOAN CONCERNS
Shares of Madison-based Great Wolf Resorts Inc. sank on Monday after the company announced another short-term extension for its Mason, Ohio-based resort's mortgage loan, but at slightly less favorable terms for the company. Great Wolf shares dropped 62 cents, or 25.1 percent, to close at $1.85. The stock has lost more than three-fourths of its value in the past year, dropping more sharply in recent months as investors' concerns have mounted that the company will not be able to repay the loan.
Great Dane is expanding to Wausau
The Great Dane Pub & Brewing Co. has been looking for an East Side location but its newest restaurant and brewery will be in Wausau. The Madison-based company, with three...
Charter subsidiaries miss interest payments
Charter Communications Inc. announced that two of its business units have...
GE to close Lunar office in Madison
The former Lunar Corp., now known as GE Healthcare Lunar, will be closing operations at 726 Heartland Trail in Middleton in June and...
Cub Foods to close Verona Road store
Cub Foods said today it will close its store at 4761 Verona Road by mid-March. The grocery store chain, based in Stillwater, Minn., cited a difficult economic environment in announcing the closing of the store...
Anchor BanCorp approved for federal cash
Anchor BanCorp Wisconsin is in line for funds from the federal government, and the Madison financial institution says the money may offer a helping hand to developers and home buyers who have fallen behind on their mortgage...
Anchor BanCorp taking $110M of federal bailout money
Anchor BanCorp said late Friday that it has received preliminary approval of its application to participate in the federal government's bailout for lenders...
Plan would put Olympic cycling events in Madison, Tyrol Basin
If Chicago succeeds in its bid to host the 2016 Olympics, several cycling events could be held in Dane County, local and state officials confirmed Thursday...
Humane Society lays off 40% of part-time staff
Hard times in 2008 led to layoffs this week at the Dane County Humane Society. Dane County Humane Society executive director Pam McCloud Smith confirmed Friday that eight part-time workers were laid off from the organization...
PSC: Great Lakes wind energy likely part of Wisconsin future
Today, a final report on the feasibility, economic potential and environmental impacts of developing wind energy on the Great Lakes was issued by…
Around the State and Points Elsewhere
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PLOVER FOOD PLANT TO CLOSE; 106 AFFECTED
Basic American Foods plans to close its Plover operations, with layoffs affecting about 106 workers to start in March. The state Department of Workforce Development said Friday that the company had filed a notice that the plant will close Sept. 1, but layoffs will begin March 13.
ANOTHER 400 JOBS LOST IN BELOIT, EAU CLAIRE
The economy has claimed another 400 jobs in Wisconsin. Alcoa Wheel Products in Beloit is shutting its doors starting in March, putting 300 employees out of work, while Hutchinson Technology in Eau Claire is laying off 100 employees, also beginning in March.
BELOIT FACTORY WILL CLOSE FOR 2 MONTHS
BELOIT - State officials say a Beloit factory will shut down temporarily, cutting nearly 300 jobs. The Department of Workforce Development reported Monday on the latest companies to file notices of upcoming closures.
FUNDS SOUGHT FOR GREEN PLANS
From retrofitting old homes for energy efficiency to linking Wisconsin cities with high-speed rail, turning the federal economic recovery plan green can create as many as 30,000 jobs in the state, according to a new coalition of government, environment and labor leaders. The Coalition for Wisconsin's Green Economy on Tuesday released a plan for targeting at least $2 billion of the anticipated federal recovery money to tackle projects that improve the state's energy independence, boost public transportation, repair crumbling water and sewer systems and redevelop impoverished urban areas.
WISCONSIN COALITION PUSHES FEDS FOR 'GREEN' JOBS
A coalition of Wisconsin environmental groups and government officials is asking President-Elect Obama and Congress to include projects in the coming economic stimulus package that would protect and improve the environment while creating good-paying jobs. Some of the proposals were already in the economic stimulus proposal that Gov. Jim Doyle presented in Washington, D.C., but the coalition is emphasizing projects that would lead to a "green economy" for the 21st century.
Circuit City to liquidate remaining U.S. stores
Circuit City Stores, the nation's second-biggest consumer electronics retailer, reached an agreement with liquidators on Friday to sell the merchandise in its 567 U.S...
M&I Corp. reports $403 million loss
Marshall & Ilsley Corp. posted a fourth-quarter loss and is instituting a cost-reduction plan that includes cutting jobs. The Milwaukee-based firm, which operates regional banks and investment...
M&I eliminates 830 jobs
Marshall & Ilsley Corp., Wisconsin's largest bank, today reported a 2008 fourth quarter net loss of $403.9 million, or $1.55 per share, and announced it will eliminate 830 jobs, or 8 percent of its workforce.
Roth Kase purchased by milk processor in Switzerland
Roth Kase, an award-winning, specialty cheesemaker in Monroe, has been purchased by Emmi, the largest milk processor in Switzerland. The acquisition took effect Jan. 1; terms were not disclosed. Emmi has owned a small...
Home foreclosures up 81% in U.S., 62% in Wisconsin
Home foreclosures skyrocketed across the country in 2008, up 81 percent nationwide from 2007 and up 225 percent from 2006, according to a national foreclosure tracking service...
Quad Graphics cuts 400 jobs in state
Quad Graphics, the third-largest printer in the United States with headquarters in Sussex, is laying off 400 Wisconsin workers immediately due to the downturn in the economy...
New zoning district could be spark plug
New zoning district could be spark plug. More flexibility for developers in business park. A new zoning classification in the village could help boost sales in the Germantown Business Park...
Subdivision proposal receives criticism
Subdivision proposal receives criticism. Neighbors, city officials say plan too dense for rural site. City officials and residents oppose proposed plans for a subdivision on 88 acres of the Harold DeBack farm on Racine Avenue...
School Board endorses Cardinal Stritch campus
School Board endorses Cardinal Stritch campus. St. Francis School Board members say a $150-million Cardinal Stritch University at the Cousins Center and adjacent We Energies property would be an asset to the community...
See the Report: DDR takes heat on Pabst Farms
See the Report: DDR takes heat on Pabst Farms. The cold didn't freeze out more than 200 people who came to a public informational meeting Tuesday night about the Pabst Farms Town Center.. The cold didn't freeze out more than 200 people who came to a public informational meeting Tuesday night about...
RedPrairie development proposal delayed - Developers not ready for February hearing
RedPrairie development proposal delayed - Developers not ready for February hearing. A partner in the proposed RedPrairie Technology Park development at I-94 and Highway C said a decision to postpone the building and zoning approval process does not mean the project is "in trouble" or that the developers are losing interest.. A partner...
'Shot in the arm' coming to downtown; Oconomowoc approves Rockwell Village
'Shot in the arm' coming to downtown; Oconomowoc approves Rockwell Village. Six buildings housing 36 condominium units, two levels of parking and a "niche" retail space will be what downtown merchant Laurel Whelan calls a "good shot in the arm for downtown Oconomowoc.". Six buildings housing 36 condominium units, two enclosed...
Closures & Layoffs (Jan. 11-17): Crippling Job Losses
Wausau Paper is closing down its Jay, ME, mill and relocating its converting equipment from its Appleton, WI facility to its Brokaw, WI and Brainerd, MN, ...
Palomar project failure a major blow to Park East corridor
Five years after the demolition of the Park East freeway, Milwaukee County's property in the corridor remains
Central city affordable housing development planned
Three-story building planned for vacant site at the northwest corner of North 27th Street and West Lisbon Avenue.
Retail developments land tenants
Several major retail real estate developments in southeastern Wisconsin are having success attracting tenants to fill small retail spaces.
Palomar project is dead
Dallas-based Gatehouse Capital has pulled the plug on the high-profile proposed Milwaukee Hotel Palomar and Residences development planned for the Park East corridor in downtown Milwaukee.
Three more Wisconsin manufacturing plants to close
Three more manufacturing plants in Wisconsin will close, eliminating nearly 500 more jobs. Alcoa Wheel Products has informed the Wisconsin Department of Workforce Development (DWD) that it will close its plant in Beloit, eliminating 293 jobs in March. Many of the affected employees are members of the United Auto Workers, Local 95.
Viroqua facility will close, move jobs to Tennessee
NCR Corp. recently told the Wisconsin Department of Workforce Development that it will close its Viroqua label printing facility in early March. All of the plant's 81 employees will lose their jobs as a result of the plant closure, the company said.
Development News for the week 01/03/09 to 1/09/09
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WISCONSIN MAY LOSE 65,000 JOBS IN '09 STATE REPORT SAYS RECESSION WILL LAST FOR MOST OF THE YEAR
Wisconsin will lose a stunning 65,000 jobs this year - four times as many as in 2008 - and state unemployment will reach 8 percent for the first time in 25 years amid a global recession, according to projections in a new state economic report. Businesses involved in manufacturing, trade, transportation and utilities are expected to shed the most jobs in 2009, but nearly all sectors will be affected, said John Koskinen, chief economist for the Department of Revenue, which released its quarterly economic report Friday.
NEIGHBORS CRY FOUL OVER FAR WEST SIDE DAY CARE
Frustrated residents of the far west side came out in force at the City Council meeting Tuesday night to voice concerns over the location of a proposed day care center. The council ultimately voted to delay action on approving the center to their next meeting, but not without a lengthy discussion on the public process and merits of the project.
DO TOUGH TIMES REQUIRE REVISITING TIF POLICY? WITH PROJECTS COMING TO A HALT, SOME QUESTION DISCOURAGING TAX BREAKS FOR DEVELOPMENT
Tax breaks for developers helped fuel Madison's downtown building boom of the past decade. Monroe Commons, Capitol West, University Square and Union Transfer - among other high-profile projects - all received city help by means of a tool called tax incremental financing (TIF). It worked so well, though, that critics feared developers might be getting too much of a good thing, and for two years, a number of City Council members and others have been pushing to make sure taxpayers get the most for their money and that subsidies go toward creating local jobs. TIF works by letting cities lend money to developers to help build projects and later recoup that money with the increased property taxes the improvements generate.
A VERY SUPER SUPERINTENDENT
DeFOREST - If there was any doubt that Jon Bales would be a good fit for the DeForest School District, it was quickly erased when he arrived here nearly a decade ago. The School Board had set up a program to solicit input from residents about the future direction of the district. Another superintendent might have been more eager to put his own stamp on the district. But Bales embraced the project, which led to a renewed commitment to technology, quality facilities and individualized learning programs.
Hilldale store not among 11 Macy's closings
Department store operator Macy's Inc. said Thursday it will close 11 underperforming stores in nine states -- affecting 960 employees...
Retailers, even Wal-Mart, not so jolly over December sales
Retailers reported dismal sales figures for December on Thursday as even Wal-Mart Stores Inc., one of the bright spots in the industry...
Four Lakes Label moving to Sun Prairie
Four Lakes Label, a Madison printing company, is moving to Sun Prairie...
State Supreme Court considers: How much money can a business owner take from a company?
Where do you draw the line — legally — on how much money business owners can take from their company? It's a key question that could result in a "radical" change in Wisconsin law, state Supreme...
Home sales decline 36 percent
Local home and condominium sales were down in November when compared to the previous year's figures. The South Central Wisconsin MLS reported Tuesday that Dane County's 213 home...
Great Dane is expanding at Hilldale
Bo Ryan will soon have new digs for his weekly radio show and beer lovers a little more space, too. The Badgers basketball coach and others who visit the Great Dane Pub...
Construction spending falls less than expected
U.S. construction spending fell less than expected in November as record activity on nonresidential projects helped offset another steep decline in housing...
Residents critique proposals to rebuild downtown library
The importance of keeping a street-level presence for Madison's Central Library and locating it on a main city corridor gave one developer a...
Competing developers defend their Central Library plans
Two competing developers say they have the superior plan for a new Madison Central Library. In response to questions from the Wisconsin State Journal, The Fiore Cos. and T. Wall Properties have offered the top 10 advantages of...
Some Madison area stores beat the bad economy odds
In early December about 100 local business owners attending an economic forum sponsored by the Greater Madison Chamber of Commerce were asked...
Study: Wisconsin needs more prisons
A new study says Wisconsin will need more than $1.2 billion in prison renovations and new construction in the next decade to keep up with ...
More prisons needed? Maybe not, says corrections secretary
A new study says Wisconsin will need more than $1.2 billion in prison renovations and new construction in the next decade to keep up with a growing number of prisoners...
East isthmus park plans ready for OK from railroad officials
Members of a task force designing a park for Madison's east isthmus say they're
Home sales still in the doldrums
Dane County 's housing market showed no signs of recovering in November, with sales, prices and new listings all down markedly compared to last November and even more from November 2006, the Realtors Association of South...
University of Wisconsin's new research site to be powered by the earth
The ground far below much of Madison is particularly efficient for creating geothermal heating and cooling, and the new Wisconsin Institutes for Discovery on the UW-Madison campus...
Magazine ranks Wis. children's hospital 3rd in U.S.
Children's Hospital of Wisconsin has been ranked No. 2 in emergency care and No. 3 overall by Parents magazine...
MADISON RANKS AMONG STATE'S TOP ECONOMIC ENGINES
The state of Wisconsin is facing a major budget deficit because of lower-than-expected tax collections during the recession. As the economy slows, incomes fall and tax revenues decline As the economy recovers, incomes and tax revenues will rise and help ease the budget deficit.
A TENSE BUT REWARDING CAREER\ FOR THREE DECADES, KITTY RANKIN WALKED A FINE LINE AS MADISON'S PRESERVATION PLANNER.
For three decades, Katherine Rankin's job has placed her amid the tension between Madison's impetus to build more new homes and businesses and its desire to preserve history. Now, as Rankin, 59, retires as the city's preservation planner, she said the tensions are as strong as ever.
OWNER WANTS TO GIVE OVERTURE CENTER TO CITY
Overture Center's owner wants to give the $205 million arts facility to the city of Madison or another entity for $1 as part of a complex deal to secure its long-term future, a letter obtained by the Wisconsin State Journal shows. City officials are balking about taking responsibility for the gleaming but financially strapped facility on the 200 block of State Street.
OVERTURE: WHO WILL TAKE IT? CITY OFFICIALS BALK AT $1 DEAL
Overture Center's owner wants to give the $205 million arts facility to the city of Madison or another entity for $1 as part of a complex deal to secure its long-term future, a letter obtained by the Wisconsin State Journal shows. City officials are balking at taking over the gleaming but financially strapped facility on the 200 block of State Street.
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."
ERDMAN LAYOFFS WOULD HAVE MARSHALL ROLLING IN HIS GRAVE
When a locally owned company is sold to outside investors, it seems the pink slips often follow. Unfortunately, that appears to be the case with the cutting-edge architectural and design firm founded here nearly 60 years ago by the late Marshall Erdman.
LEAN TIMES AHEAD\ UNIVERSITY COMMUNITY PREPARES FOR FUNDING CUTS
With almost certain state funding cuts coming down the pike, University of Wisconsin-Madison Chancellor Carolyn "Biddy" Martin recently took the unusual step of holding campus forums to give faculty, students and staff a chance to float ideas on how best to absorb revenue reductions. Perhaps even more unusual, people showed up - approximately 400 in all attended three mid-December forums, despite blistering cold and snow that, on one occasion, threatened to close down the university.
ECONOMY WATCH
A DAILY DATA UPDATE ON KEY ECONOMIC REPORTS\ CONSTRUCTION: The Commerce Department reported Monday that construction spending dropped by 0.6 percent in November, less than half of the 1.3 percent decline economists expected. A 4.2 percent fall in housing construction was partially offset by a 0.7 percent rise in nonresidential activity. AUTO SALES: Chrysler said Monday its December sales dropped 53 percent because of the recession and fewer fleet sales. Other decreases in December were: Toyota, 37 percent; Honda, 35 percent; Ford, 32 percent; General Motors and Nissan, both 31 percent.
WE ENERGIES DISPUTES BILL
Madison Gas & Electric is being asked to pay another $40 million for its share of the cost of the Oak Creek coal-fired power plant. The company that's building the power plant, Bechtel Power Corp., says bad weather and other delays have raised expenses and put construction three to six months behind schedule for the first of two 615-megawatt generating units. Bechtel estimates, in a letter to project developer We Energies, Milwaukee, the power plant will cost nearly $2.7 billion, or $485 million more than the $2.2 billion price approved by state regulators, and says the owners should pick up the tab. MGE will own 8.3 percent of the power plant. WPPI Energy, a wholesale power provider to municipal electric utilities, also will own 8.3 percent and faces similar potential charges.
Around the State and Points Elsewhere
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Stritch St. Francis plan faces crucial meetings
Stritch St. Francis plan faces crucial meetings. St. Francis - Cardinal Stritch University, which is moving on two fronts to expand its reach beyond the North Shore, faces a pivotal test in its quest to open a campus in St. Francis...
Study predicts financial drain if Cardinal Stritch builds
Study predicts financial drain if Cardinal Stritch builds. University disputes findings, says campus would be positive. Outside City Hall, a group distributed fliers warning residents that the city could lose millions of dollars if Cardinal Stritch University is allowed to create a South Shore campus here...
Overflow crowd forces city to cancel public hearing
Overflow crowd forces city to cancel public hearing. Cardinal Stritch campus proposal returns Feb. 2. After a crowd filled City Hall beyond its capacity, a public hearing on Cardinal Stritch University’s plan to build a South Shore campus at the Cousins Center was called off Jan. 5...
Condo proposal wins rezoning, with conditions
Condo proposal wins rezoning, with conditions. Developer seeking change to setback. Getting the Whitefish Bay Plan Commission to change the village’s setback requirements around the project is the next step for a 21-unit condo development along Santa Monica Boulevard...
Hotel height limit supported
Hotel height limit supported. City plans to set 77 feet as maximum. After a long controversy over how tall hotel and motel buildings should be allowed to be built, it seems New Berlin residents are comfortable with the current proposal that would limit the height to a maximum of...
Village addresses residents’ concerns in planning document
Village addresses residents’ concerns in planning document. Board approves 20-year vision for community. A comprehensive plan is in place to guide community development in Menomonee Falls through 2028...
Business Briefs
L ocal savings banks to merge. The West Bend and Continental savings banks will soon complete a merger, and pick a name, for a new Wisconsin bank with 27 branches and $650 million in combined assets...
Governors seek $1 trillion federal bailout
Five Democratic governors are asking the federal government for a $1 trillion boost, including $250 billion for education and ...
Beloit Daily News.
Alcoa cuts workforce worldwide, Beloit plant to close. Aluminum producer Alcoa Inc. is cutting roughly 13 percent of its global work force by the end of the year as it slashes costs in the face of a deteriorating world economy.
MORE LAYOFFS ANNOUNCED FOR ANDERSEN WINDOWS
Andersen Windows will be laying off 55 employees temporarily at the company's plant in the Stout Technology Park in Menomonie.
MILWAUKEE ONLY MAJOR US METRO AREA WITH RISING HOME PRICES
Bucking the national trend during the recession and housing market collapse, home prices in the Milwaukee area increased 5.3 percent from October 2007 to October 2008 according to New York-based Radar Logic Inc.'s Monthly Housing Market Report.
Design Specialties to expand
Design Specialties Inc. in Milwaukee will receive $81,000 in Community Development Zone tax credits from the Wisconsin Department of Commerce for an expansion project.
Report projects strong '09 for region's industrial market
Despite the recession, a recent report by Santa Ana, Calif.-based Grubb & Ellis Co. predicts lower vacancy rates, steady leasing activity and positive absorption for the southeastern Wisconsin industrial real estate market.
CVS store planned in Franklin
CVS Pharmacy plans to build a 13,225-square-foot store in the Sendik's West development at the corner of South 51st Street and Rawson Avenue in Franklin
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