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BizTimes Daily

Saturday, March 31, 2007

Exclusives in this week's SBT

The most difficult job to fill, according to a new Manpower Inc. survey, is that of the sales representative. Small Business Times has compiled an in-depth report about the shortage of effective salespeople in Milwaukee in the cover story of this week's SBT, headlined "Dearth of a Salesman." The report examines the causes of the shortage and explores strategies for companies to attract and retain top salespeople. This week's SBT also includes an exclusive story about a luxury yacht that is headed for Milwaukee and will be available to rent for corporate outings. In addition, this week's edition features the SBT Luxury Vehicles Guide, in which several local business executives share their memories of their first and favorite automobiles. They also disclose what they're driving now and what they hope their next vehicle will be.

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Magnetek rounds off new management team

Magnetek Inc. today announced it is rounding off its new management team with some promotions and some new hires as the company continues to restructure after moving its corporate headquarters from California to Menomonee Falls.
Edward Butte has been named vice president and general manager of the company's Communications Power Systems Division. A career Magnetek employee, Butte most recently was vice president of product management and strategic initiatives and vice president of energy systems.
Succeeding Butte as vice president of energy systems is William Weber, who previously directed Magnetek's research and development group.
Succeeding Weber is Richard Wilder, who has joined the company as director of research and development. Wilder previously held positions at Rockwell Automation, ABB Drives Inc. and Allen Bradley.
Joining Magnetek as director of supply chain management is Bradley Taylor, who has worked in engineering, sales, marketing and global sourcing for over 20 years, most recently as director of materials for the Cherry Electrical Products Division of The Cherry Corp. in Pleasant Prairie.
In addition, Jolene Shellman has joined Magnetek as vice president of legal affairs and corporate secretary. Shellman was in private practice with the Varnum, Riddering, Schmidt & Howlett LLP law firm from 1997 until 2006.
Magnetek manufactures digital power and motion control systems used in material-handling, people-moving, wireless communications and energy delivery.
Magnetek president and chief executive officer David Reiland will be one of four CEO's featured in the Manufacturing Summit at the Wisconsin Business & Technology Expo on Thursday, May 3.

Spancrete acquires Florida company's assets

The Spancrete Group Inc. of Waukesha announced the recent purchase the assets of Florida Precast Industries Inc., a Sebring, Fla.-based manufacturer of Spancrete hollowcore floor and roof plank, precast stairs and precast landing slabs.
"The new Florida Precast Industries Inc. offers us a great opportunity for the long-term growth and future of the Spancrete family," said John Nagy, president and chief executive officer Spancrete. "Spancrete's 60-plus-year history has earned us the reputation of being on the leading edge of the precast industry and for providing first-rate service. We look forward to serving the area's precast construction needs."
Florida Precast Industries will continue to focus on residential, multi-family, commercial, industrial and institutional industry customers in central and southern Florida. The company employs more than 50 people.
Spancrete operates four precast concrete plants in Wisconsin and Illinois.

Boelter + Lincoln names new CEO

Boelter + Lincoln Marketing Communications (B+L) has named Jill Brzeski as chief executive officer, as John Lincoln retires after 32 years with the company.
Brzeski retains her role as president, which she assumed in 2004, becoming the first woman to ascend to the senior leadership position with the agency.
"I retire with the confidence that Jill will lead Boelter + Lincoln on a positive and progressive path," Lincoln said. "Jill has made significant contributions to the agency with her leadership abilities and business sense, and I'm certain that will continue."
Brzeski began her advertising career in 1985 with Boelter + Lincoln. She then held positions at other advertising agencies in the Milwaukee area before returning to B+L in 1999.
Boelter + Lincoln is a full-service marketing communications firm with offices in Milwaukee and Madison and annual billings of more than $29 million.

MMAC survey shows slow growth

The latest quarterly outlook survey by the Metropolitan Milwaukee Association of Commerce (MMAC) shows continued slow growth in the local economy. The full report is published in the print edition of this week's Small Business Times and also is available at http://www.biztimes.com/news/2007/3/30/mmac-survey-says-economy-continues-slow-growth.

Venture capitalist is bullish about Wisconsin

Paul Carbone, director of the Private Equity Group for Milwaukee-based Robert W. Baird & Co. Inc., is bullish on the Wisconsin economy. “Some people get off track when they see quarterly statistics deviate, or if the market gets the jitters, but we think the Wisconsin economy is strong and that there is capital out there to back companies,” Carbone said. Read more in an interview with WisBusiness.com, a media partner of SBT.

Corn prices skyrocket with growing demand for ethanol

The U.S. Department of Agriculture released findings from its 2007 prospective plantings survey this morning, showing American growers' plans to plant more acres of corn this year - more than 90 million - than in any year since World War II.
That is an increase of 15 percent from last year's 78 million acres planted. The prospective planting survey is a strong signal of how this year's corn crop and prices will turn out, which can also affect livestock feed and consumer prices at the supermarket.
The USDA report shows growers' intentions to reduce soybean acreage by 11 percent from last year, to 67 million acres, in efforts to capitalize on soaring corn prices caused in large part by growing demand for ethanol.
As President George W. Bush pushes for increased ethanol production and use, corn prices have jumped to $4 per bushel from around $2 just two years ago.
High corn prices can spell trouble for livestock farmers, who need grains to feed their cattle, swine and poultry. The possibility of a rainy spring or a dry summer also has the market on edge, as either could drive demand and prices even higher. Eventually, high corn prices could lead to higher prices at the supermarket on meats and other corn-based foods.
"I want to emphasize that these are intentions of what people are going to look at planting. That can still change based on the weather situation as we move into the next two to three weeks," said Mark Schultz, vice president of Northstar Commodity, which provides commodity market analysis, trading and risk management services for growers, grain elevators, processors and investors around the world. "If it's ideal planting for corn, I expect those corn acres to go in. If it's not ideal planting, watch them switch back to soybeans."
Northstar Commodity is a division of AgMotion Inc., which is based in Minneapolis and has an office in West Bend.

Central Wisconsin unions approve contracts

Union members at two central Wisconsin manufacturing plants approved their new labor contracts Thursday. Read more in the daily roundup of business news headlines from newspapers around the state at www.biztimes.com.

Get a jumpstart on the weekend

Busy readers of the Biztimes Daily can get a jumpstart on their weekend ahead by reading the OnMilwaukee.com Weekend Preview. OnMilwaukee.com is a media partner of Small Business Times.

Milwaukee Biz Blog: Fire the county's economic development director

The Milwaukee County Economic and Development Division has a deficit of more than $3 million, and its director should be fired, according to County Supervisor John Weishan Jr., author of today's Milwaukee Biz Blog. A weekly bonus blog is posted SBT executive editor Steve Jagler at OnMilwaukee.com, a media partner of SBT.

 

Local stocks back in the tank

The BizTimes Stock Index recovered .45 points to close at 176.68 Thursday, but local stocks drifted back into negative territory this morning, as a dismal week of trading prepared to come to a close. The largest local decliners this morning were Johnson Controls Inc. (down 83 cents to $94.44) and Bucyrus International Inc. (down 57 cents to $51.31). The largest local advancers this morning were Harley-Davidson Inc. (up 48 cents to $58.83) and Manpower Inc. (up 46 cents to $73.85). 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.

Froedtert to partner with Columbia St. Mary’s

Froedtert Memorial Lutheran Hospital and Community Health and Columbia St. Mary’s Hospital have signed a letter of intent to form a new health care system partnership in Milwaukee.

Small Business Times has obtained a copy of a letter from Froedtert president and chief executive officer William Petasnick confirming that the two hospital systems planned for the partnership to be announced Sunday in the Milwaukee Journal Sentinel.

Spokesmen from Froedtert and Columbia St. Mary’s declined to comment on the partnership Saturday.

In his letter, Petasnick said, “The proposed partnership would unite our academic medical center and five highly regarded community hospitals into a single, financially integrated health system with a strong local board. Combining the tremendous strengths of both organizations would enhance geographic access, improve patient access to a broad array of physician services, enhance coordination of care across the new organization, rationalize the distribution of resources, help control the growth of health care costs by eliminating unnecessary duplication of services, foster collaboration around patient safety and quality and expand physician training opportunities and clinical research in collaboration with the Medical College of Wisconsin.”

Based in Wauwatosa, Froedtert and Community Memorial Hospital of Menomonee Falls came together in 2001 to form Froedtert & Community Health, a regional integrated hospital organization with two locations and multiple program sites. Froedtert & Community Health is also affiliated with United Hospital System (St. Catherine and Kenosha Hospital Medical Center) in Kenosha.

In addition, physicians from the Medical College of Wisconsin provide radiation oncology, cardiology, perinatology, and pathology services for Community Memorial Hospital.

Columbia St. Mary's is comprised of four hospitals: Columbia St. Mary's Hospital Milwaukee; Columbia St. Mary's Hospital Columbia in Milwaukee; Columbia St. Mary's Hospital Ozaukee in Mequon; and the Sacred Heart Rehabilitation Institute in Milwaukee.

Columbia St. Mary’s, sponsored by Ascension and Columbia Health Systems, also includes 30 medical clinics, a college of nursing, a partnership with the Orthopaedic Hospital of Wisconsin, the River Woods Outpatient Center in Glendale and Cathedral Square Urgent Care Center in downtown Milwaukee.

Columbia St. Mary’s is in the midst of building a new $417 million campus on Milwaukee’s east side that will include an 835,000-square-foot hospital, a 40,000-square-foot cancer center, two medical office buildings and parking structures.

Columbia St. Mary’s is led by president and chief executive officer Leo Brideau. It was not clear Saturday who will lead the new partnership.

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