The Wisconsin state government closed its books on fiscal year 2008 with a $2.5 billion deficit, the largest in the state's history, according to the Wisconsin Taxpayers Alliance, a nonprofit, nonpartisan group dedicated to policy research and citizen education.
The deficit figure was reported in the state's Comprehensive Annual Financial Report (CAFR) prepared by the state controller and audited by the Legislative Audit Bureau.
"It usually goes unnoticed, but each year at this time, the state issues its Comprehensive Annual Financial Report (CAFR) prepared by the state controller using generally accepted accounting principles (GAAP). This year's CAFR puts the state's 2008 GAAP deficit at $2.5 billion. Relative to population or state income, Wisconsin has the largest GAAP deficit of all 50 states," the Wisconsin Taxpayers Alliance reported.
Wisconsin has reported GAAP deficits for almost two decades, regardless of who was governor or which party controlled the legislature. A new development, however, is the size of the deficit and the direction it is headed.
To obtain a copy of the Wisconsin Taxpayers Alliance's report, titled, "Unmentioned news story of 2008?" send an e-mail to wistax@wistax.org.

Time Warner Cable Inc. is alerting its subscribers that it has been unable to reach a new contract agreement with Viacom Inc., and the result may be that 16 of Viacom's MTV Networks stations will go dark for Time Warner customers tonight at 12:01 a.m.
The stations that will be inaccessible, unless an 11th-hour agreement is reached, will be: Nickelodeon/Nick at Nite, MTV, VH1, Spike, TV Land, Comedy Central, Noggin, MTV2, VH1 Classic, Logo, MTV Hits, MTV Tr3s, Nick Too, Nicktoons, The N and Palladia.

In a statement at its web site, Time Warner Cable told customers:
"We are negotiating earnestly, honestly and fairly with MTV Networks, but so far have been unable to reach an agreement or get an extension. MTV Networks may pull these channels from your lineup on January 1st.
"MTV Networks wants our customers to pay millions more.  They are currently demanding price increases that are nearly triple the rate of increase under our current agreement. These increases would be excessive even in a strong economy, but given the current conditions, it's simply not fair to our customers.
"MTV's demands are outrageous and would force our customers to pay millions of dollars more per year. MTV's networks are not worth so much more today than they were yesterday, especially given the fact that their ratings are mostly declining in recent years.  
"Much of their popular programming is also available for free online. In this economy, we don't believe it's appropriate to ask our customers to pay so much more for programming with declined ratings or that's available for free.
"We've successfully negotiated hundreds of programming agreements with other cable networks, many within the last few months. Our hope is that we will come to an agreement with MTV Networks that is fair to our customers."

In response, Viacom issued the following statement:
"The move by Time Warner Cable to force such channels as Nickelodeon, Comedy Central and MTV off the air is another example of a cable company overreaching for profit at the expense of its viewers.
"The renewal we are seeking is reasonable and modest relative to the profits TWC enjoys from our networks. We have asked for an increase of less than 25 cents per month, per subscriber, which adds up to less than a penny per day for all 19 of MTV Networks' channels.
"We make this request because TWC has so greatly undervalued our channels for so long. Americans spend more than 20% of their TV viewing time watching our networks, yet our fees amount to less than 2.5% of what Time Warner generates from their average customer.
"Throughout the country, we have negotiated equitable license agreement renewals, or are in the final stages of renewals, with virtually every cable and satellite carrier. Nevertheless, Time Warner Cable has dismissed our efforts at a fair compromise and has effectively chosen to deny its customers some of the most popular TV shows on the air.
"As a result, we are sorry to say that for Time Warner Cable customers our networks will go dark as of 12:01 on January 1st, denying Time Warner customers shows like Dora the Explorer, SpongeBob SquarePants, The Daily Show with Jon Stewart, The Colbert Report, and The Hills.
Ultimately, however, if Nickelodeon, Comedy Central, MTV and the rest of our programming is discontinued - over less than a penny per day - we believe viewers will see this behavior by their cable company as outrageous. Time Warner Cable subscribers who are being handed a January 1st $3 monthly increase in Raleigh, Orange County, Los Angeles, and New York City are simultaneously facing the removal of beloved shows across 19 channels.
"We find it a shame that Time Warner Cable remains unreasonable at this time. We hope its leadership will have a change of heart and will seek to negotiate a fair renewal agreement."

The U.S. Army Corps of Engineers, Detroit District, has awarded the first contract for seven planned projects that will upgrade U.S. Department of Veterans Affairs (VA) facilities in Wisconsin and Michigan.
The $2.29 million contract award will be used to renovate a vacant wing of a Civil War-era building for the human resources department of the Clement J. Zablocki VA Medical Center in Milwaukee. This is the first time the Detroit District will supervise construction for the VA.
Nuvo Construction Co., a Milwaukee-based business, was awarded $2.29 million to completely renovate the 16,000-square-foot wing on the medical center's campus for the VA Great Lakes Health Care System or Veterans Integrated Service Network 12.
"Providing updated working areas for the human resources department will assist the VA in keeping a fully-staffed operation that directly affects care of veterans," Patrick Kuhne, the Detroit District’s project manager for the Milwaukee and six other VA projects, said. "Improved facilities, whether a hospital or administrative building, translates to better and more efficient care to our veterans."
Six more VA projects are expected in the future - one more in Milwaukee, two in Detroit and one each in Ann Arbor, Battle Creek and Saginaw, Mich.
The Milwaukee medical center project is expected to last 230 days as the wing will undergo structural work to repair leaks, windows and roof repairs.
Additionally, new plumbing will be installed, the emergency sprinkler system will be relocated, a new heating and cooling system will be installed, the wing will be rewired, a drop ceiling will be added, the interior will be painted, new carpeting will be laid and new office cubicles will be erected. The work will also include asbestos abatement.
"This is a complete renovation that will involve structural work to accommodate a new office layout," said William Merte, the Detroit District's chief of the Construction, Cost and General Engineering Branch. "We are ready to support the VA in any design and construction project as requested."

The Middleton Doll Company announced Tuesday that its shareholders approved a stock split that will enable the firm to become a privately held company.
Shareholders who hold fewer than 1,000 shares prior to the stock split transaction will have their partial shares cashed out at 50 cents per share on a pre-split basis. Shareholders who hold 1,000 or more shares prior to the stock split will continue as shareholders of the company after the transaction.
The stock split transaction is scheduled to take effect Jan. 9, 2009. In conjunction with the stock split, the company intends to deregister its common stock and preferred stock. After the split, the company will no longer be required to file reports with the U.S. Securities and Exchange Commission.
The Waukesha-based company currently operates in two segments, consumer products and financial services. The consumer products segment is comprised of Lee Middleton Original Dolls, Inc., a designer and marketer of lifelike collectible and play dolls, and License Products Inc., which does business as FirsTime Manufactory, a designer and marketer of clocks and home decor products that are sold to major national retailers.
Middleton Doll's financial services segment is comprised primarily of the remaining assets of the lending and real estate leasing business of its former subsidiary, Bando McGlocklin Small Business Lending Corp., now owned by Lee Middleton Original Dolls. The company does not intend to continue in the financial services segment after the remaining financial services segment's assets are sold.

Applications are being taken for women interested in becoming the next Alice in Dairyland.
"Alice in Dairyland is the spokesperson for Wisconsin's signature industry - agriculture, which is a $51.5 billion industry," said Ashley Huibregtse, the 61st Alice in Dairyland. "As Wisconsin's agricultural ambassador, you are a public relations professional, marketing specialist, and educator. If you enjoy delivering speeches, conducting media campaigns, meeting people, traveling, and working with school children, this is a great opportunity for you."
Alice in Dairyland is a one year, full-time contract position with the Wisconsin Department of Agriculture, Trade and Consumer Protection. The 62nd Alice in Dairyland will begin work June 1 after being selected in Racine County during the finals May 13-15.
She will travel about 40,000 miles as a spokeswoman for Wisconsin's food, fiber, and biofuel industries. Additionally, she will present hundreds of speeches, provide more than 100 media interviews, and visit schools throughout the year.
Applicants must be Wisconsin residents and at least 21 years of age by June 1. The position requires the ability to discuss Wisconsin's agricultural commodities, products, and issues facing agriculture in both rural and urban settings, with public speaking skills being essential.
Applications are due by Friday, Jan. 16, at 4:30 p.m. The application is available here for downloading. It may be submitted by email to Nicole Breunig (nicole.breunig@wi.gov) or by mail to DATCP-DAD, ATTN Nicole Breunig, P.O. Box 8911, Madison, WI 53708-8911.

A federal judge has rejected Hobart's appeal of the Oneida Tribe of Indians' plan to purchase the Thornberry Creek Golf Course near Green Bay, allowing the transfer of property to occur. Judge William Griesbach issued a ruling on Dec. 23 upholding a decision from the bankruptcy court that allows the tribe to buy the golf course with the restrictions placed on the property by the village. Read more in BizTimes Milwaukee's daily roundup of headlines from newspapers across the state at www.biztimes.com/#news.

On the final trading day of the year, the stock market staged a morning rally in today's abbreviated session. Advancers outnumbered decliners this morning. The largest local advancers in the BizTimes Stock Index were Strattec Security Corp. (up $2.71 to $15.71), Kohl's Corp. (up $1.31 to $36.11) and Manpower Inc. (up $1.10 to $33.87). The largest local decliners this morning were Weyco Group Inc. (down $1.08 to $31.79) and Johnson Outdoors Inc. (down 77 cents to $4.90).

Most real estate investors believe the market will not recover until well into 2009, according to a new survey conducted by Colliers Investment Services Group, a division of Boston-based Colliers International, a leading global real estate services firm. Read more in the latest edition of the BizTimes Real Estate Weekly bulletin.

Employers should beware of new regulations related to the Americans With Disabilities Act and the Family Medical Leave Act that will go into effect in January. Read more in today's Milwaukee Biz Blog by consultant Rob Lapota.