The boards of directors of Columbia St. Mary's and Froedtert & Community Health today announced the approval of a joint operating agreement to form Progressive Health, an organization that will financially integrate, govern and lead the combined hospital systems.
"The name Progressive Health was chosen to reflect the system's strong forward-thinking ideas about how health care should be delivered," the hospitals said in a joint announcement.
The combined system includes an academic medical center that will ensure it remains on the leading edge of the research and technology that drive progress in health care.
The system will continue Froedtert's partnership with the Medical College of Wisconsin Physicians Group and create new links between the academic medical center and community hospitals.
William Petasnick, president and chief executive officer of Wauwatosa-based Froedtert & Community Health, and Leo Brideau, president and CEO of Milwaukee-based Columbia St. Mary's, will serve as co-presidents of Progressive Health.
Progressive Health will be led by a 16-member, community-based board of directors, which will be chaired by James Wigdale, chairman emeritus of Marshall & Ilsley Corp. Brideau and Petasnick will serve as members of the board. 
"Progressive Health will provide a tremendous opportunity to transform health care throughout this region," Brideau said. "It will be the premier health care system, leading advancements in patient quality and safety, avoiding duplication and enhancing our obligation to be good stewards of community resources."
"Progressive Health will offer our patients access to the latest technology, evidence-based care and highest standards of quality," Petasnick said. "We will focus on treating each patient's unique needs and strive to go beyond what is expected."
"The partnership between these outstanding community hospitals and academic medical center is absolutely the right thing for this community," Wigdale said. "As board chair of this new organization, I firmly believe Progressive Health will offer consumers a better choice, providing the highest quality care at the lowest cost while fulfilling our commitment to be good stewards of the community's resources."
"The Medical College of Wisconsin endorses the formation of Progressive Health and its strong commitment to academic medicine," said T. Michael Bolger, president and CEO, Medical College of Wisconsin. "This new organization will expand existing links between our academic medical center and community hospitals, providing patients throughout our region with greater access to Medical College faculty physicians."
Columbia St. Mary's and Froedtert & Community Health plan to continue to work through legal documents and regulatory review processes to complete the merger later this year. Additional information is available at www.ProgressiveHealthPartners.com.

Chicago-based CenterPoint Properties plans to build three more speculative industrial buildings in Pleasant Prairie along Interstate 94.
CenterPoint presented a conceptual plan and related documents to the Pleasant Prairie Plan Commission this week for the construction of the first building in the development, a 453,000-square-foot structure that will feature warehouse, distribution and office space on approximately 30 acres of land.
The Kenosha County site is along the south side of 116th Street, southeast of a VW-Audi Distribution Center.
The first building is proposed to have 50 truck loading docks and four drive-in overhead doors. Parking spaces to accommodate 52 semi-trucks are proposed on either side
of the building to the east and west.
The value of the first building, upon completion, is estimated to be near $20 million. CenterPoint expects to begin construction during the spring of this year.
During the meeting, documents also were considered to subdivide and rezone the property. The land is currently being used for agricultural purposes.
The plans will be forwarded to the Pleasant Prairie Village Board for final consideration.

NewPage Corp. announced today it will close the former Sora Enso North America paper mills in Niagara and Kimberly, Wis.
The Niagara pulp mill will be closed by the end of April, eliminating 319 jobs. The Kimberly mill will be closed by the end of May, eliminating 125 jobs.
The closures are part of a restructuring since Miamisburg, Ohio-based NewPage acquired Stora Enso's North American paper manufacturing operations.
NewPage spokeswoman Amber Garwood told SBT this morning that the firm will attempt to find jobs elsewhere in the company for employees whose jobs have been eliminated.
The company also announced it will close plants in Rumford, Maine, and Chillicothe, Ohio. Some of the work that was done at the Chillicothe converting facility will be shifted to the company's remaining Wisconsin plant in Wisconsin Rapids, Garwood said.
"These restructuring decisions will create the platform essential to become one company, remain competitive in the marketplace, serve our customers more efficiently and reach $265 million of synergies we have committed to achieve. Despite the permanent closures being announced today, we are merging the operations in a manner that will actually increase our 2008 North American production by 3 to 8 percent compared to the combined production in 2007," said Mark Suwyn, chairman of the board and chief executive officer of NewPage.

The Mayline Group, a Sheboygan-based designer, manufacturer and distributor of innovative office furniture, has acquired the AVA Furniture Group (AVA).
AVA, headquartered in San Jose, Calif., is a designer and distributor of transitional and contemporary office furniture including veneer casegoods, office and lounge seating.  Founded in 2003 by co-owners Anthony Glaves and Brian McNay, AVA has built a successful and unique dealer distribution network covering 18 western states based on in-stock availability across a wide range of high quality casegoods and seating product lines.
Mayline is a portfolio company of Milwaukee-based Baird Capital Partners. Mayline produces technology centers sold under the Mayline, Tiffany Industries  and Kwik-File brand names.
"We have known Tony and Brian for a number of years and watched as they built a highly successful business." said Mayline president and chief executive officer Paul Simons. "This transaction allows AVA to build on its past success as the Mayline Group introduces the AVA casegoods and seating product lines to new distribution channels and to the other 32 states and Canada."

Gov. Jim Doyle announced a plan this week to help propel Wisconsin manufacturers into the next generation by focusing on efficiency and lean manufacturing principles.
Doyle said his plan, called Next Generation Manufacturing, will target $85 million in existing and new tax credits to leverage $1.6 billion in private capital investment, creating 5,000 new jobs and training 4,000 workers for the jobs of tomorrow.
"Wisconsin is home to the best manufacturing companies in the world," Doyle said. "To remain competitive, our manufacturers must continue to become leaner and more efficient. This plan will build on our success, helping Wisconsin manufacturers modernize and access the support they need to compete in the global economy."
The Next Generation Manufacturing plan is part of the next phase of Doyle's Grow Wisconsin agenda.
The plan will: provide $1.2 million to support Wisconsin Manufacturing Extension Partnerships to expand the number of Wisconsin manufacturers working to get lean; invest $750,000 and leverage $500,000 from the federal government to assist more than 100 small and mid-sized manufacturers across Wisconsin that have never used lean manufacturing techniques; and will create tax credits to help Wisconsin manufacturers train workers, create jobs and invest in the future.

Community First Credit Union of Appleton filed a complaint Tuesday in federal court against the U.S. Internal Revenue Service, seeking a refund of taxes paid on income from several insurance products.
The suit says the IRS is wrong to deem the products as falling outside the credit union's main mission and therefore taxable.
At issue is about $54,000 in taxes Community First paid in 2006 on income from the sale of credit life and credit disability insurance, and guaranteed auto protection (GAP) insurance. The IRS determined the product lines were subject to unrelated business income tax (UBIT).
Community First disagrees with that interpretation. The credit union's position is supported by both its state and national trade associations, the Wisconsin Credit Union League and the Credit Union National Association.
"Community First's mission - and that of all credit unions - is to provide financial services to our members on a not-for-profit, cooperative basis. The products at issue here are financial services, and they contribute to the financial stability of the credit union and our members," said Community First president and chief executive officer Catherine Tierney. "They are well within the purpose of credit unions and should not be taxable."
State- and federally chartered credit unions are exempt from paying federal income tax as not-for-profit, member owned financial cooperatives. State-chartered credit unions such as Community First, however, pay property, personal property, payroll and sales taxes and are subject to UBIT on income from unrelated business.
After receiving no response from the IRS for more than six months, Community First filed suit in the U.S. District Court for the Eastern District of Wisconsin.
"Taking on the IRS is a daunting task, but the bottom line is Community First is a credit union. We're doing this because it's the right thing to do for our members - and to protect the credit union difference," Tierney said.
Brett Thompson, president and chief executive officer of the Wisconsin Credit Union League in Pewaukee, said, "Credit unions are unique institutions. As not-for-profit cooperatives they have as their mission providing financial products that contribute to the financial well-being of their member-owners. The activities for which Community First paid the unrelated business income tax are in fact central to that mission - and to the mission of all credit unions who offer them. On that basis we whole-heartedly support the action taken by the credit union today … This lawsuit is about much more than money. In filing the suit, Community First is standing up for its members and the entire credit union movement to achieve a legal precedent that reinforces and preserves the ideals of credit unions as not-for-profit, member-owned institutions."

Verizon Wireless announced it invested more than $37 million in 2007 to enhance its digital network in Wisconsin.
The enhancements included building new cell sites, upgrading existing cell sites, increasing coverage area, and expanding its high-speed wireless broadband network to many new markets.
"Our mission in 2008 is to continue perfecting our network so that our customers can depend on us every time they pick up their wireless phones," said T.J. Fox, president of the Wisconsin/Illinois Region for Verizon Wireless.
Since the company was formed in 2000, Verizon Wireless has invested more than $222 million on improvements to its network in Wisconsin, including the following upgrades in 2007: 10 new cell sites were activated statewide to improve network coverage and capacity; equipment on 51 existing cell sites throughout the state was upgraded; and 65 permanent backup generators were installed at Wisconsin cell sites; to ensure network functionality during times of crisis.
The company also expanded its high-speed wireless broadband network in the greater Milwaukee, Madison and Fox Valley areas and now has a coverage area that spans approximately 7,500 square miles around the state with the upgraded network.

Avicom, a fast-growing business-to-business marketing communications firm in Waukesha, has hired Karl Robe to lead its public relations practice.
Robe will spearhead the company's aggressive growth initiatives in public relations.
"Karl has coached and counseled c-level executives from Fortune 100 companies to start-ups," said Tim Kubina, co-owner of Avicom. "His strategic acumen and public relations savvy will serve as a powerful complement to our full-range of services including advertising, promotions and new media."
Robe most recently led the public relations practice at Scheibel Hlaska Inc. in Milwaukee. His client roster has included professional services, manufacturers, healthcare, food services, energy and technology companies, for which he has managed relationships with media, government and community activists.
"Expect to see some new offers from Avicom in the near future," Robe said. "The Avicom partners fully support my leadership and growth plans. We should have some interesting news in the coming months."

Northern Trust Corp.'s fourth-quarter net income fell to $125 million, or 55 cents a share, from $170.8 million, or 77 cents a share, in the same period a year earlier.
The Chicago bank holding company, which operates an office in downtown Milwaukee, said its income was reduced by $94.2 million, or 42 cents a share, on its litigation accrual of $150 million related to an antitrust lawsuit settlement between Visa Inc. and American Express Co.
In October 2007, Northern Trust, as a member bank of Visa U.S.A. Inc., received shares of restricted stock in Visa Inc. as a result of its participation in the global restructuring of Visa U.S.A. Northern Trust and other Visa U.S.A. member banks are obligated to share in potential losses resulting from certain indemnified litigation involving Visa.
Excluding those charges, Northern Trust's fourth-quarter earnings increased 26 percent to 97 cents a share, boosted by strong growth in trust, investment and other servicing fees.
Northern Trust's operating income rose 28 percent to $219.2 million from $170.8 million. The company's quarterly revenue increased 25 percent to $972.8 million from $776 million.
For the full year, Northern Trust reported record net income per common share of $3.24 for 2007, an increase of 8 percent from $3.00 per share a year ago. Net income increased 9 percent to $726.9 million, up from $665.4 million last year.
Frederick Waddell, president and chief executive officer, said, "Our focused business model continued to generate excellent results in the fourth quarter amidst a challenging capital and credit market environment. Record operating earnings for the quarter and full year were driven by strong growth in trust, investment and other servicing fees, foreign exchange trading income, and net interest income, while the quality of our loan portfolio continued to be exceptionally strong. Northern Trust's success in the marketplace was evidenced by double-digit growth in client assets, with assets under custody increasing 17 percent to $4.1 trillion, global custody assets growing 23 percent to $2.1 trillion, and assets under management increasing 9% to $757.2 billion, versus last year. We enter 2008 in excellent financial condition with a continued focus on serving the needs of personal and institutional clients."

At the next Milwaukee Press Club Newsmaker Luncheon, Carlos Santiago, dean of the University of Wisconsin-Milwaukee, will discuss the future of the school, including his plans to develop a new engineering campus and business park on the Milwaukee County grounds.
The luncheon will take place at noon on Wednesday, Jan. 30, at the Newsroom Pub, 137 E. Wells St., in downtown Milwaukee. The public is invited to attend.
Santiago has raised more than $120 million in private money and has a pledge from philanthropist Michael Cudahy to buy the land needed to build the UWM Innovation Park in Wauwatosa.
Santiago envisions engineers from some of Milwaukee's most vibrant companies working alongside faculty and students from UWM to advance the region's technological capabilities and spur economic development.  He is seeking businesses to partner and help fill the 82-acre campus.
The public is invited to attend the luncheon. The cost to attend is $15 for Press Club members, $20 for non-members, $10 for students. Lunch is included. Because seating is limited, pre-registration and advance payment is strongly recommended and may be made online at www.milwaukeepressclub.org.

Wisconsin companies hoping to present at the 2008 Midwest Venture Summit in Chicago must submit their business plans by Jan. 30 for a chance to join companies that have raised more than $222 million in private equity funding in past years.
Opportunities are available for companies in various stages of growth, from early-stage start-up firms to series A+.  The fee for submission is $175
The summit is scheduled for March 17-18 in Chicago. 
The Wisconsin Angel Network, which is managed through the Wisconsin Technology Council, is represented on the summit steering committee. The Midwest Venture Summit attracts entrepreneurs and investors from a 13-state area, including Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Western Pennsylvania, South Dakota and Wisconsin.
This year's summit is expected to more than 100 investors. 
"We have a finite number of opportunities for companies to present, and know that our event guarantees exposure to VC's from all over the country. If you are a serious growth company looking for money, the Midwest Venture Summit is the place to be in March," said Maura O'Hara, executive director of the Illinois Venture Capital Association, and one of the summit organizers.
"This summit is another example of opportunities available for growth companies in the I-Q Corridor, which stretches from Chicago through Wisconsin and into the Twin Cities region of Minnesota," said Tom Still, president of the Wisconsin Technology Council. "Among other things, the 'I' in the I-Q Corridor stands for investment - and the Midwest Venture Summit helps make connections for entrepreneurs with accredited investors."
To learn more about the summit and to apply to present, visit www.midwestventuresummit.com.

A survey of the chief executive officers of 132 Wisconsin banks indicates that the majority do not foresee the state's housing market recovering for at least another 12 to 18 months. Read more in the new edition of the BizTimes Real Estate Weekly bulletin.

With the Packers in the national spotlight for Sunday's NFC Championship Game at Lambeau Field against the New York Giants, the City of Green Bay is getting a lot of attention this week, and business leaders say that's for the good, especially when recruiting top talent or raising the profile of a company or the community. Read more in SBT's daily roundup of headlines from newspapers across the state at www.biztimes.com.

Wealth manager Kevin Reardon offers some advice for 2008 in today's Milwaukee Biz Blog.

Local stocks bounced around today in a volatile session of trading. The largest local advancers this morning were Weyco Group Inc. (up $2.00 to $27.91) and Fiserv Inc. (up 90 cents to $50.94). The largest local decliners this morning were Bucyrus International Inc. (down $5.89 to $81.09) and Joy Global Inc. (down $2.74 to $58.27). 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.