Monday, February 12, 2007
New health insurance network forms in Brookfield
Trilogy Health Insurance Inc. is forming a new health care insurance provider network to provide discounted rates to self-funded employers in northeastern and southeastern Wisconsin.
The network, which will be based in Brookfield, is expected to be available by April 2007.
Trilogy is the first Wisconsin-domiciled health insurance company to be launched in several years. The company was formed to provide fully-insured health insurance to small businesses in northeastern and southeastern Wisconsin that are seeking a return to local high-touch management and customer service.
Fiserv Health, a business group of Brookfield-based Fiserv Inc., today announced an agreement to become exclusive administrator of the new provider network.
"Combining a strong network with our flexible service model gives employers a new and viable option for controlling health care costs while providing excellent health care to their plan members," said Jay Anliker, president of Fiserv Health Plan Services. "Best of all, Fiserv Health and Trilogy are keeping health care local, which is what our clients and providers have been requesting."
Fiserv Health will assist Trilogy by providing claims processing and additional administrative services through Avidyn Health, Innoviant Prescription Benefits Administration and ppoONE.
"Our network was built upon long-standing relationships with health care providers and physicians who feel strongly about the benefits of local management and service," said Bill Felsing, Trilogy Health Insurance president and chief executive officer. "Providers know our reputation for quality and service and we are confident they will be eager to work with Fiserv Health, a company known for its responsiveness and common sense."
Trilogy Health Insurance also will sell fully insured health insurance featuring the network to small businesses, beginning in April.
Management, customer service and medical underwriting will be provided locally from Trilogy's Brookfield, headquarters, which will have 20 employees this year.
"And we do hope to grow," Fiserv Health spokeswoman Susan Ford-Hoffert told SBT this morning.
Trilogy's proprietary network, Trilogy Health Networks, provides competitively discounted rates.
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Barrett ponders Wisconsin collegiate basketball showcase
In his state of the city address this morning, Milwaukee Mayor Tom Barrett said his top two priorities for this year will be reducing crime and "putting more people to work," but it was his "special fantasy" that raised the most eyebrows.
"I would love to see Miller Park the location of a basketball tournament that would showcase all four of our state's Division I schools: Marquette, UWM, (UW) Madison and (UW) Green Bay," Barrett said. "It would be great for the schools, the alumni and Milwaukee. And it would allow us to showcase Miller Park for a future NCAA Final Four tournament."
In summarizing his priorities, Barrett said, "To have a safer, stronger Milwaukee, we need more family-supporting jobs. Since 2004, we've been successful in using our resources to grow businesses and add jobs. As a result, more than 10,000 jobs have been added or are on their way."
Barrett pointed to Captel Inc.'s plans to open a call center in downtown Milwaukee and create 600 jobs and Manpower Inc.'s plans to move its corporate headquarters to downtown Milwaukee, as examples of businesses bringing jobs to the city.
Barrett also said the city needs existing businesses to remain successful here. He expressed support for Midwest Air Group Inc., which is trying to fend off a hostile takeover bid from Orlando, Fla.-based AirTran Holdings Inc.
"Hang in there Midwest, Milwaukee's behind you," Barrett said.
Barrett also expressed support for the Falk Corp., the Menomonee Valley manufacturer that experienced a massive explosion in December that killed three workers.
"We will continue to work … to make sure that the Falk Corp., a rock solid business in our community for over 100 years, grows stronger than ever here in Milwaukee," he said.
Barrett said he has dedicated a full-time position within city government to put 1,500 teens to work this summer in his summer jobs program.
He announced that last week the city finalized the sale of the Bacher Farm property on the northwest side to the federal government for the Milwaukee Job Corps facility, for a national vocational job training program run by the U.S. Department of Labor, which will open in 2009.
Also, Barrett said that local and state leaders must reach a consensus on how to spend $91.5 in federal transportation funds.
"We can't afford to sit and wait any longer," he said. "In the coming days, I will offer a plan that will move Milwaukee's public transit system forward to meet today's needs."
Roundy's to expand into Chicago market
Roundy's Supermarkets Inc., the Milwaukee-based parent company of Pick 'n Save stores, today announced it plans to invade the Chicago market by opening a new store at the New City YMCA site at 1515 North Halsted.
The store will be "one of many stores the grocery chain will open over the next three years in the Chicago area," the company stated today.
"Our expansion into Chicago marks an extremely positive time in our company's history," said Robert Mariano, chairman and chief executive officer of Roundy's, who began his grocery career in Chicago and rose to become the president of Dominick's Supermarkets in Chicago.
Several of Roundy's key investors are based in Chicago.
"As we continue to grow in Wisconsin and Minnesota, we recognize an opportunity to expand into the Chicago market to fill a need for more unique grocers," Mariano said.
The company's first full-size Chicago store will be about 80,000 square feet on two floors and will feature fresh offerings in produce, meat and seafood, bakery and deli. In addition, the store will provide a selection of prepared foods for breakfast, lunch and dinner, natural and organic products and homeopathic remedies.
Roundy's state-of-the-art, 1.1 million-square-foot distribution center in Oconomowoc, will serve the company's Chicago area stores.
M&I plans another acquisition
Marshall & Ilsley Corp., the Milwaukee-based parent company of M&I Bank, is continuing its spree of acquisitions by signing a definitive agreement to buy Minneapolis-based Excel Bank Corp.
Excel, with $633 million in consolidated assets, has four branches in the Twin Cities area. Under the agreement, Excel shareholders will receive $9.08 in cash and $4.89 in M&I common stock for each share of Excel common stock, or a total of $13.97. The transaction value is approximately $105 million.
The transaction is expected to be completed in the third quarter of 2007, subject to the affirmative vote of Excel's shareholders, regulatory approvals and other customary closing conditions.
"Excel has been a very important correspondent banking relationship for M&I, and we are particularly pleased that the Excel team is joining M&I," said Mark Furlong, president of Marshall & Ilsley.
Excel Bank Minnesota, founded in 1965, has grown its total assets from $267 million to $615 million over the past five years.
The transaction will be the latest in a series of acquisitions by Marshall and Ilsley, which last year acquired United Heritage Bankshares of Florida Inc. of Orlando, Gold Banc Corp. Inc. of Leawood, Kan., and Trustcorp Financial Inc. of St. Louis, Mo.
Marcus Corp. to manage new Twin Cities hotel
Marcus Hotels and Resorts, a division of Milwaukee-based Marcus Corp., today announced that it has been selected to manage a new Hilton Hotel under construction in Bloomington, Minn., an upscale suburb of Minneapolis.
Corporate Property Associates 16-Global, an affiliate of W.P. Carey & Co. LLC, is funding construction and will own the 256-room hotel, which is expected to open in January 2008.
In addition to managing the property, Marcus will provide pre-opening and technical services under a long-term contract. Minneapolis-based M.A. Mortenson Co. and Walsh Bishop Associates Inc. are the general contractor and architect, respectively. Denver-headquartered Design Force Corp. is the interior designer.
"We have extensive operating expertise throughout the country, especially the upper Midwest, and will use all of our resources to position this hotel as the finest property in Bloomington and a leading hotel in greater Minneapolis," said Bill Otto, president of Marcus Hotels and Resorts. "The hotel has great visibility in a very upscale location surrounded by high-end retail and boutique shopping, with more than 8 million square feet of office space within several miles. The property is convenient to the airport, Mall of America and downtown Minneapolis."
Located at the southwest quadrant of Interstate 494 and France Avenue, the hotel will feature the upscale ChopHouse restaurant concept developed by Marcus Hotels and Resorts.
"We believe that pairing the Marcus management team with the Hilton brand name and worldwide reservation system will position the property strongly in the market," said Jason Fox, W.P. Carey director. "Being able to locate a quality hotel in the upscale suburb of Bloomington, which has high barriers to new development, also is a plus."
The 11-story brick and glass building will feature 9,100 square feet of meeting space, capable of accommodating groups of up to 500 people.
Marcus Hotels and Resorts owns or manages 18 hotels and resorts with more than 4,500 rooms, with two additional properties currently under development.
Forward Wisconsin faces uncertain future
The future of Forward Wisconsin, a 20-year-old public-private economic development initiative, is uncertain as it faces uncertain funding and the loss of its executive director.
Pepi Randolph, an attorney who has been head of Forward Wisconsin for two-and-one-half years, will become national vice president of sales and marketing for the Potawatomi Business Development Corp., starting April 1.
The corporation handles investments for the Forest County Potawatomi tribe, which runs Milwaukee’s the Potawatomi Bingo and Casino in Milwaukee.
Tony Hozeny, a spokesman for Wisconsin Commerce Secretary Mary Burke, said the Forward board of directors will meet Feb. 16. “Beyond that, we have no comment,” he said.
Matt Canter, a spokesman for Gov. Jim Doyle, said Doyle is “looking at a number of ways to improve targeted business improvement efforts."
Jerry Franke, president of Wispark LLC and vice chairman of the Forward board, also was reluctant to discuss the future of Forward Wisconsin.
Randolph he said it was “a little disheartening that we didn’t get more support from the Legislature" for Forward Wisconsin.
To read the full story, visit WisPolitics.com, a media partner of SBT.
Sensient caps strong year
Sensient Technologies Corp. today reported fourth-quarter net earnings of $15.4 million, or 33 cents per share, up substantially from $1.4 million, or 3 cents per share, in the same period a year ago.
The Milwaukee-based company's quarterly revenue grew to $272.8 million from $252.9 million a year earlier.
For the full year, the company reported consolidated revenue increased 7.3 percent to $1.1 billion.
The increase in annual revenue was driven by higher sales in its color segment and record sales within its flavors and fragrances segment. Foreign currency exchange rates also had a favorable impact on the company's revenue.
"Our major business segments enjoyed good volume growth and improved product mix during 2006," said Kenneth Manning, chairman, president and chief executive officer of Sensient. "This was an outstanding year, and I expect our businesses to continue to perform well in 2007."
Bablitch joins Quarles & Brady
Steve Bablitch, who recently served as secretary of the Wisconsin Department of Administration and was a key figure in both the Tommy Thompson and Jim Doyle administrations, has joined Quarles & Brady LLP as a partner.
Bablitch will be based in the law firm's Milwaukee office will focus his practice on corporate and health care law.
"To have an attorney of Steve Bablitch's caliber and experience join Quarles & Brady is
a great thing for our firm and our clients," said Patrick Ryan, the firm's managing partner. “Steve is a talented lawyer who brings to our practice and our clients valuable perspective from his experience in government, as general counsel and then chairman and CEO of a Fortune 1000 company, as a prosecutor and from his many years in the private practice of law."
Prior to providing counsel to Jim Doyle, Bablitch was secretary of the Wisconsin Department of Corrections Tommy Thompson.
"While I enjoyed my government service, I am excited to continue my legal career with
Quarles & Brady," Bablitch said. "This is a wonderful opportunity to be part of one of the most experienced and respected law firms in Wisconsin and the entire nation, and I look forward to working with the Firm's clients and lawyers."
Bablitch's corporate experience includes serving as Chairman of the Board and Chief
Executive Officer of Cobalt Corp. and its subsidiary companies, including BlueCross & BlueShield United of Wisconsin.
Davis to receive lifetime achievement award
Former Green Bay Packer defensive lineman Willie Davis will receive the inaugural Mother Kathryn Daniels Conference Center (MKDCC) Lifetime Achievement Recognition Award.
The award will be bestowed on Saturday, Feb. 24, at the Milwaukee Art Museum.
Davis, Packer defensive captain under Vince Lombardi during the Packer Super Bowl championships years of the 1960s, will be honored for his years of community service, business success and athletic accomplishment.
After his playing career, Davis earned a master's degree in business administration from the University of Chicago. Early in his post-football business career, he landed the largest Schlitz Beer distributorship on the west coast and later founded All-Pro Broadcasting, leading to ownership of radio properties in Los Angeles, San Bernardino, Temecula, Denver, Seattle, Houston and Milwaukee.
Davis still maintains 50 percent ownership of the Milwaukee Radio Alliance, including stations 1290 WMCS-AM, 93.3 WJZI-FM and FM 102 One, WLUM-FM.
"The Daniels Center is honored and humbled to recognize such a living legend as Mr. Willie Davis," said Bishop Sedgwick Daniels. "His years of exemplary leadership in the athletic and business communities must be saluted and appreciated in this generation. His accomplishments epitomize the real meaning of success and he is a prototype for our present and future generation of youth."
Davis has served on the corporate boards of Johnson Controls Inc, K-Mart, Wisconsin Energy Corp.Strong Funds, Dow Chemical and the Green Bay Packers. His current board memberships include MGM Mirage, Manpower Inc., Sara Lee and the Alliance Bank of California.
Davis established empowering initiatives such as the Willie Davis Scholarship Fund Inc. which has awarded some $750,000 to high school graduates over the past 20 years, and Milwaukee's annual Christmas Family Feast, which feeds 5,000 yearly on Christmas day.
Honorary chairs for the inaugural award event are Dennis Kuester, chairman of Marshall & Ilsley Corp., Ted Kellner, president of Fiduciary Management, and Henry Loos, partner at Quarles & Brady LLP.
The Lifetime Achievement Recognition Award program is a fundraising event for the Mother Kathryn Daniels Conference Center (MKDCC). Proceeds raised from the event will provide essential support for the continuance of programming and services assisting youth and families in the Bishop's Creek neighborhood near 35th and Hampton Avenue in Milwaukee.
For more information, contact MKDCC executive director Billy Young at (414) 466-1800, ext. 5154.
Local stocks lose some luster
The BizTimes Stock Index dropped 2.56 points to close at 181.74 Friday, and local stocks bounced around in a volatile session of early morning trading today. The largest local decliners this morning were MGIC Investment Corp. (down $1.25 to $64.29) and Joy Global Inc. (down 76 cents to $45.64). The largest local advancers this morning were Gehl Co. (up $1.00 to $27.90) and Actuant Corp. (up 79 cents to $50.45). The BizTimes Stock Index was created by Small Business Times and is monitored by North Shore Bank. The index, which measures the stock values of publicly held companies based in southeastern Wisconsin, is updated daily and can be viewed at www.biztimes.com.



