A tax-delinquent brownfield at 3316 N. Palmer St. in Milwaukee will soon be the home of a 52,900-square-foot addition to Medovations, a multi-national manufacturer of medical products.
The company's primary manufacturing plant and offices are located in a 90,000-square-foot building just to the west at 102 E. Keefe.
The City of Milwaukee worked with Medovations to grow the central city-based
business, through acquisition and remediation of a blighted brownfield near the
company’s manufacturing facility.
In anticipation of the expansion, Medovations added 12 new employees to its 42-member team. The company hires nearly all of its employees from the inner city and provides on-the-job training.
"We are actively working with Milwaukee businesses to identify opportunities to
grow," said Milwaukee Mayor Tom Barrett. "Through a partnership with the U.S. EPA (Environmental Protection Agency) and State of Wisconsin, we were able to invest $242,000 to not only clean up a brownfield, but to leverage a $3 million business expansion and add jobs to our economy."
Established in 1982, Medovations manufactures cardiothoracic catheters, gastrointestinal dilatations systems, neurological irrigation products and aspiration/irrigation catheters. The Medovations expansion adds to a growing list of companies expanding along Milwaukee's 30th Street Industrial Corridor. Masterlock Company LLC, DRS Technologies Inc., Capitol Stampings Inc. and Astronautics Corp. of America each have invested in facility upgrades in the neighborhood.

ACCO Brands Corp. will shutter its 100,000-square-foot manufacturing plant in Pleasant Prairie at 10303 80th Ave. early next year.
The facility employed up to 150 workers as recently as last year. However, the company made cuts in early 2007 and this August, when it laid off 75 employees from its General Binding Corp. division.
The remaining 30 workers were told about the closure last week, said ACCO spokesman Rich Nelson.
"We are consolidating what we do there in some of our other facilities in East Texas, Pennsylvania and Wheeling, Ill.," he said.
At least five of ACCO's employees have already been reassigned to positions in Wheeling, Nelson said, and the company is looking for other available positions for employees from Pleasant Prairie. Some of the company's employees from the August and 2007 layoffs were relocated to Wheeling, he said.
Lincolnshire, Ill.-based ACCO Brands is one of the world’s largest suppliers of branded office products.

Concerned that banks are not passing along funds from the federal bailout of the financial services industry to consumers and businesses, the Federal Reserve board and other bank regulators urged banks today Wednesday to lend more freely to creditworthy borrowers.
The Federal Reserve, the Department of the Treasury, the Federal Deposit Insurance Corp. (FDIC), the Office of the Comptroller of the Currency and the Office of Thrift Supervision issued a joint statement to the banking industry today.
"The ongoing financial and economic stress has highlighted the crucial role that prudent bank lending practices play in promoting the nation's economic welfare. The recent policy actions are designed to help support responsible lending activities of banking organizations, enhance their ability to fund such lending, and enable banking organizations to better meet the credit needs of households and business. At this critical time, it is imperative that all banking organizations and their regulators work together to ensure that the needs of creditworthy borrowers are met," the agencies stated.
"The agencies expect all banking organizations to fulfill their fundamental role in the economy as intermediaries of credit to businesses, consumers, and other creditworthy borrowers. Moreover, as a result of problems in financial markets, the economy will likely become increasingly reliant on banking organizations to provide credit formerly provided or facilitated by purchasers of securities. Lending to creditworthy borrowers provides sustainable returns for the lending organization and is constructive for the economy as a whole," the agencies stated.
Meanwhile, U.S. Treasury Secretary Henry Paulson said today the Feds plan to turn their attention to non-bank industries that may be in need of economic stimulus or rescue.
In related news, Fannie Mae, Freddie Mac and other mortgage firms announced Tuesday they will rewrite the terms on some overdue mortgages so the homeowners won't pay more than 38 percent of their monthly income.
Modifications could include deferring some of the principal owed, lowering interest rates or extending maturities to as much as 40 years.
"Foreclosures hurt families, their neighbors, whole communities and the overall housing market," said James Lockhart, director of the Federal Housing Finance Agency. "We need to stop this downward spiral."
Under the new program, mortgages on owner-occupied homes that are at least 90-days past due, with a loan-to-value of 90 percent or more, will be eligible for the modifications. Also, homeowners who owe more on their home than it is worth will be eligible. Borrowers should contact their mortgage company to determine if they are eligible for the streamlined mortgages.
Meanwhile, the National Association of Realtors (NAR) has adopted principles that recommend continued government involvement in the secondary mortgage market.
"As the leading advocate for housing issues, NAR developed these principles for consideration by the 111th Congress and the new presidential administration in light of disruptions in the credit markets and the conservatorship of Fannie Mae and Freddie Mac," said NAR president Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, Texas. "NAR believes that the federal government must continue to play a role in the mortgage markets to insure the continued flow of capital."

The stock market showed few signs of life today, plummeting for the third consecutive day this week. The Dow Jones Industrial Average was down more than 300 points by mid-morning. Local stocks in the BizTimes Stock Index also were in the red this morning. The largest local decliners were Bucyrus International Inc. (down $2.09 to $22.84), Kohl's Corp. (down $1.66 to $29.03) and Harley-Davidson Inc. (down $1.52 to $17.75). A handful of local stocks resisted the carnage, led by Weyco Group Inc. (up 67 cents to $26.76) and Fiserv Inc. (up 39 cents to $32.38).

Best Buy Co. became the latest national retail company to show distress today.
The Minneapolis-based consumer electronics retailer lowered its fiscal 2009 guidance today because of the fast-paced meltdown in consumer spending since the end of summer.
Best Buy cut its full-year outlook through Feb. 28 to a range of $2.30 to $2.90 a share, from a prior range of $3.25 to $3.40 a share. Stock shares of Best Buy fell nearly 8 percent to $22.02 in early-morning trading. Since Sept. 12, the company's stock price has tumbled more than 46 percent.
Brian Dunn, president and chief operating officer of Best Buy, said, "In 42 years of retailing, we've never seen such difficult times for the consumer. People are making dramatic changes in how much they spend, and we're not immune from those forces. That's why it's critical that we manage our spending, while preserving key growth initiatives. Having said that, we believe that our strategic indicators remain strong. We continue to see improvements in employee turnover, customer satisfaction and market share - and our commitment to our strategy of customer centricity is unwavering. In fact, given recent announcements by competitors, we believe we have even greater potential to serve new customers and to capture market share in the months and years ahead."
"Since mid-September, rapid, seismic changes in consumer behavior have created the most difficult climate we've ever seen," said Brad Anderson, the company's vice chairman and chief executive officer. "Best Buy simply can't adjust fast enough to maintain our earnings momentum for this year."
Last week, Circuit City Stores Inc. filed for bankruptcy after announcing it is closing 155 stores across the nation. Previously, bankrupt Linens 'n Things Inc. announced plans to go out of business.
The retailers' distress is taking a toll on the companies that own shopping malls. On Tuesday, General Growth Properties Inc., which owns Mayfair Mall in Wauwatosa, warned that it may soon run out of cash and may be forced to file for bankruptcy.

AirTran Airways, a subsidiary of AirTran Holdings Inc. today announced that it now charging customers $15 for their first checked bag.
The new charge take effect today, although travelers who purchased tickets on or before Nov. 11 will not be charged for their first checked bag.
AirTran Airways will continue to charge $25 for a second checked bag and $50 for each additional bag.
Orlando, Fla.-based AirTran said business class travelers and A+ Rewards Elite members will be exempt from the first bag charges and will continue to be exempt from second bag charges.

Think Green Bay, and you're likely thinking Packers, Cheeseheads, brats and frozen tundra, right?
One Green Bay ad agency is determined to to replace such iconic images with a more rounded representation of what life and commerce are really like in Titletown USA.
Arketype Inc. has created a new multimedia news release for Greater Green Bay that features a new "Better Half" video about the Greater Green Bay (visit www.prnewswire.com/mnr/arketype/35840).
Entirely economics driven, the new branding effort targets workforce development and the recruitment of new residents and new businesses to the area while reinforcing community pride. The campaign's messages reflect the area's work/play/life balance using a variety of marketing mediums including TV spots, print ads, online ads, networking, video, and a website, www.betterbythebay.com.
Arketype president Jim Rivett is the catalyst behind the video. The need to brand Green Bay first occurred to Rivett's firm five years ago when it experienced resistance recruiting outside talent to the area.
"Candidates had a very narrow perception of Green Bay that was just football and winter," Rivett said. "They weren't aware of the great quality of life, affordable living, short commutes, and that we have four seasons. Instead, Green Bay had acquired a brand image by default. We all love our cheeseheads and football. We simply felt it was time our community take control of that image and promote the entire lifestyle story."

Milwaukee-based Rockwell Automation Inc. today announced it has reached an agreement to acquire substantially all of the assets and business of Xi'An Hengsheng Science & Technology Company Limited, a privately held engineering firm in China.
Xi'An Hengsheng Science & Technology delivers automation solutions to the electrical power and other heavy process industries in China. Financial terms of the acquisition were not disclosed.
Located in Xi'An, China, Xi'An Hengsheng Science & Technology Company Limited serves customers in the power, petrochemical, coal mining, chemical and oil markets. The company conducts much of its business in the fast-growing regions of middle and western China with an installed base of approximately 300 customers.
"This acquisition is a vital step in continuing to provide world-class design and delivery service to our customers throughout China," said Tom O'Reilly, managing director, Rockwell Automation, Greater China. "It is also another example of how Rockwell Automation is helping China save energy, reduce emissions, protect the environment and achieve a sustainable economy."
Xi'An Hengsheng Science & Technology Company co-founder Han Liqing, said, "The relationship with Rockwell Automation will strongly enhance our ability to deliver automation solutions and technology to heavy process industries throughout China. We have excellent long-term relationships with our customers and the western China business community. By combining our local knowledge with the global technical expertise, broad product portfolio, and financial strength of Rockwell Automation, we will increase our ability to serve customers."
The acquisition is expected to be completed during the first calendar quarter of 2009.

Merge Healthcare, a West Allis-based medical imaging solutions provider, today unveiled mobile technology that enables patients and health care professionals to view digital medical images on an Apple iPhone or iPod.
The software enables mobile access to such CT, MRI, X-ray and other images.
Merge Mobile is breakthrough technology intended to help health organizations and clinicians improve quality of care, reduce costs and improve responsiveness to patients. Today, radiologists and physicians have access to patient medical images from computers connected to their practice management or PAC (picture archiving and communications) systems.
Applications built upon Merge Mobile technology will enable radiologists to view emergency cases directly from their iPhone or iPod touch, consult with colleagues and, when necessary, forward critical findings directly and securely to a patient's referring physician.
"Merge Healthcare will usher in a new era of mobile healthcare by bringing advanced medical imaging information to the fingertips of physicians," said Justin Dearborn, Merge Healthcare's chief executive officer. "Merge Mobile leverages the rapid convergence of mobile and medical technology development to empower new approaches in healthcare delivery and coordination."

Robert Pyles has been elected president of McDonald's Restaurants of Southeastern Wisconsin, a cooperative of the 125 restaurants located in southeastern Wisconsin.
Pyles will be the first African-American operator in Milwaukee to hold the position in the organization.
Born and raised in Alabama, Pyles started working for McDonald's in 1991 as a part-time crew person while in the United States Air Force. In 1997, Pyles became a restaurant manager and, one year later, Pyles and his wife Betty began their journey as McDonald's owner/operators.
Pyles' ownership grew from one to nine stores during his first four years and now has 550 employees in nine Milwaukee restaurants.
Pyles also is president of the McDonald's Central City Network in Milwaukee and leads the Milwaukee chapter of the Black McDonald's Operators Association. Pyles also is a pastor at Foundation of Prayer Evangelical Ministries.
In addition to Pyles, McDonald's Restaurants of Southeastern Wisconsin Board of directors includes McDonald's owner/operators Charles Conn, Waukesha; Steven Kilian, West Bend; Jeffrey Steren, Whitefish Bay and Milwaukee; and Claudia Waskow, Waupun.
 "We congratulate Robert on this achievement,” said Kilian, who is past-president of the co-op. "Robert's dedication to McDonald's, his overall vision and his commitment to the community are unmatched qualities that will serve the co-op continued success in the future."
McDonald's USA LLC has 13,700 restaurants across the nation, more than 80 percent of which are independently owned and operated by local franchisees.

The Milwaukee area's office vacancy rate rose to 15.6 percent during the third quarter, up from 14.7 percent in the second quarter and 14.3 percent in the first quarter, according to new data from New York-based Reis Inc., which provides commercial real estate market information. Read more in the new edition of the BizTimes Real Estate Weekly bulletin.

Public Service Commission voted Tuesday to deny Alliant Energy's plan to build a coal-fired plant at its Nelson Dewey Generating Station property in Cassville. As a result, Alliant's plans to shut down one of three coal-fired generators at its Sheboygan power plant have been scrapped. Read more in SBT's daily roundup of headlines from newspapers across the state at www.biztimes.com/#news.

Milwaukee's General Mitchell International Airport is one of the top-rated airports in the nation. Should Milwaukee County turn over the oversight of the airport to a private company? Take today's BizTimes Poll and view the results so far at www.biztimes.com.

Change most definitely is in the air, but the advantages of incumbency are protecting many of the entrenched in Congress, according to Jim Burkee, author of today's Milwaukee Biz Blog.