The Great Lakes Water Compact is at a standstill in Wisconsin, but that does not change the fact that much of Waukesha County needs new options for its drinking water supplies. As the debate drags on, Waukesha County could go thirsty. Read more in the cover story of the new edition of Small Business Times. In a special point/counterpoint edition of the Milwaukee Biz Blog today, state Rep. Jon Richards (D-Milwaukee) and Sen. Mary Lazich (R-New Berlin) debate the merits of the Great Lakes Water Compact. Other highlights of this week's SBT include a story about a significant void at the Milwaukee Public Market, a story about a new generation taking over at Burghardt Sporting Goods, an update on the rebirth of Wisconsin Avenue and a look at a succession plan at Doering Leasing Co.

Thousands of Wisconsin businesses are owned and managed by baby boomers who will be reaching retirement over the next 20 years. What then? What will be the "Next Stage" for their business?
The Small Business Times will explore the answers to those questions when it conducts an M&A Forum, titled "The Next Stage," on Thursday, March 27, from 7:30 to 11 a.m. at The Pfister Hotel, 424 E. Wisconsin Ave.
The event will examine different exit strategies, including recapitalizations, employee stock ownership programs, management buyouts, sale to private equity firms, mergers with strategic partners and more.
Business owners are invited to attend the conference to learn more about their options. In addition, professionals such as attorneys, accountants, bankers, consultants and others who provide services to business owners are invited to attend the event.
The keynote speaker of the forum will be Mark Herndon, president of Dallas-based Parkwood Advisors LLC, a diversified professional services firm focused on M&A, investment banking and private equity investing. Herndon also is the co-author of "The Complete Guide to Mergers and Acquisitions: Process Tools to support M&A Integration at Every Level."
The event will include breakout sessions from 9:15 to 10 a.m. and from 10:15 to 11 a.m., presented by Emory & Co., The PrivateBank and Reinhart Boerner Van Deuren S.C., sponsors of the event.
For more information and to register online, visit http://www.biztimes.com/cal/sbt-events/2008/3/27/m-a-forum-the-next-stage.

Azana Salon & Spa, located at 200 N. Moorland Road in Brookfield, plans to add a second location in the Fountains of Franklin development at South 51st Street and Rawson Avenue in Franklin.
"We are very excited to open our second and largest location to better serve the residents of Franklin and the surrounding communities," said Tami Swaine, president of Azana Salon & Spa. "We anticipate that our current clients will appreciate the added convenience of our new location. The Fountains of Franklin was the right choice for us because of the outstanding demographics, its central location with the south suburbs of Milwaukee and the planned unique, upscale atmosphere it offers."
The Franklin Azana Salon & Spa will be in a two-story, 11,450-square-foot building. By comparison, the Brookfield Azana is about 9,000 square feet.
Construction for a 21,600-square-foot building, which will include the Fountains of Franklin Azana, a cosmetic surgeon's office, a 3,200-square-foot Snap Fitness center and an upscale tanning boutique, is expected to begin this spring and be complete in November.
Equitable Development LLC is developing Fountains of Franklin, which is anchored by a 61,700-square-foot Sendik's grocery store.
"We are very pleased to be joined by Azana, the premier salon in Brookfield, which will now become the premier salon and spa of the southern suburbs of Milwaukee," said David Hintzman, president of Equitable Development. "We are also currently working with a 4,000-square-foot European bistro, a fine dining restaurant and a variety of specialty shops. The future of the city of Franklin is here now. The projects underway: Northwestern Mutual (office expansion), a five-story Staybridge Suites (hotel) Sendik's Food Market, Azana Salon and Spa and the Wheaton Franciscan hospital are evidence that this area is hot."

Wisconsin Department of Commerce Secretary Jack Fischer today announced the appointment of Aggo Akyea as director of the Bureau of Minority Business Development.
"Aggo Akyea has demonstrated the passion, talent and experience to be an authentic asset to my management team as we move forward in promoting the development of minority businesses," Fischer said.
Akyea has been the minority business enterprise program manager at the Wisconsin Department of Transportation since 2006, providing consultation to minority businesses in order to maximize their prime and subcontracting opportunities within the department's state-funded purchasing and construction projects. He served as marketing and certification consultant for the Department of Commerce from 1991 to 2006, certifying minority firms for participation in public sector contracts and organizing and conducting the annual Marketplace Trade Fair.
He earned a master's degree in business administration, economics and finance from St. John's University in New York.

Wisconsin's Native American tribes gave the state nearly $196 million in gambling revenue over the last three fiscal years, according to a state audit released Thursday. Read more in SBT's daily roundup of headlines from newspapers across the state at www.biztimes.com.

The United Community Center is serving multiple generations on Milwaukee's south side. Read more in the new edition of the SBT Nonprofit Spotlight. To view a list of charities throughout southeastern Wisconsin, visit the SBT Nonprofit Directory.

The Franklin Economic Development Commission recently hosted the annual Franklin Business Appreciation networking event at Proteus Packaging. View a photographic slideshow of the event in the latest edition of SBT Around Town.

Busy readers of the BizTimes Daily can get a jumpstart on the snowy Easter weekend by reading the latest edition of the OnMilwaukee.com Weekend Preview. OnMilwaukee.com is a media partner of Small Business Times. The latest forecast from the National Weather Service is calling for eight to 15 inches of snow by tonight. Flights at General Mitchell International Airport were being cancelled this morning as the snow began piling up on the runways.

The BizTimes Stock Index finished a rocky week by recovering .65 points to close at 149.05 Thursday. The largest local gainers Thursday were Kohl's Corp. (up $2.75 to $45.55) and Harley-Davidson Inc. (up $2.47 to $38.23). The largest local decliners Thursday were Bucyrus International Inc. (down $4.78 to $98.02) and Joy Global Inc. (down $2.33 to $62.04). The market was closed in observance of Good Friday today. 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.