BizTimes Daily

Tuesday, April 22, 2008

Engineers top list of 'Hardest Jobs to Fill'

Engineers, machinists and skilled trade workers are among the nation's most challenging positions to fill, according to a new survey of employers by Milwaukee-based Manpower Inc.
"From our research it is clear that across the country employers are experiencing a mismatch between the talent their businesses need and the skills and abilities potential employees possess," said Jonas Prising, president of Manpower North America.
The 10 Hardest Jobs to Fill, as reported by U.S. employers for 2008, are:
1. Engineers
2. Machinists/Machine Operators
3. Skilled Trades
4. Technicians
5. Sales Representatives
6. Accounting & Finance Staff
7. Mechanics
8. Laborers
9. IT Staff
10. Production Operators
For the third consecutive year, sales representatives, technicians, accountants/finance staff and machinists remain on the Hardest to Fill list, confirming that job seekers with specific skill sets are still in demand.
Second on the list in 2006, engineers found themselves in the No. 1 position this year, after dropping off completely in 2007. Employers also are finding it difficult to fill openings for skilled trades people, IT staff and production operators, all new to the 2008 list.
To succeed in the contemporary world of work, employers must not only encourage current employees to re-skill and up-skill to ensure they meet workload demands, but also refine their recruitment and retention strategies for a new generation of workers, Manpower said.
"While job categories have shifted on the list, it is clear all companies must have a plan for transitioning from baby boomers to younger generations," said Melanie Holmes, vice president of World of Work Solutions for Manpower North America. "It is essential for companies to find a balance where they are attracting and retaining aging workers while still developing innovative recruiting programs targeting young professionals, especially those interested in technical and trade careers."
Current trends in hiring also point toward employers focusing on more than simply finding an individual who has the role-specific competencies required to fill an opening. "Companies want employees who have the soft skills, work ethic and culture traits that fit their company," Holmes said. "Hiring managers recognize the high cost of hiring the wrong individual for their organization so they are taking more time to find the right fit, even for these hard to fill positions."

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AirTran suspends growth program after brutal quarter

Less than a year after it was rebuffed in its hostile takeover bid for Midwest Airlines, AirTran Holdings Inc. today announced it is suspending its growth plan after it incurred a loss of $34.8 million, or 38 cents per share, in the first quarter.
The Orlando, Fla.-based parent company of AirTran Airways Inc. attributed the loss to record-high fuel costs, which are inflicting financial carnage across the airline industry.
The average price per gallon of fuel increased 49.3 percent to $3 in the first quarter compared to $2.01 in the first quarter of 2007. the company's fuel expense was $268 million, up $102 million from the same period of the prior year.
Going forward, the company has increased its fuel hedge positions to cover approximately 50 percent of its fuel needs for the remainder of the year.
"Advanced bookings for the summer look very strong, however, we are nonetheless concerned with the continued rise in fuel prices, particularly towards the end of this year," said Kevin Healy, senior vice president of marketing and planning for AirTran. "Given the current environment we will execute on a plan that will result in the suspension of our growth plans beginning in September 2008 and continuing at least through 2009. We will remain focused on positioning ourselves to be successful in a high fuel environment by reducing costs and improving efficiencies. At the same time we will continue our focus on increasing unit revenues, introducing more ancillary revenue programs, such as the optional advance seat assignment fees, and maximizing the revenue production associated with our A+ Rewards frequent flier program."
"Despite record revenues, record high fuel costs remain a tremendous challenge for all airlines," said Bob Fornaro, AirTran's president and chief executive officer. "We remain committed to serving our customers, reducing costs and profitably managing our company going forward. We are proud that AirTran Airways crew members have maintained our focus on a high operational and service standard while achieving the No. 1 ranking in the 2008 Airline Quality Rating report. By focusing on what we do and doing it better than anyone else, AirTran Airways will continue to be well-positioned for the future."

Rockwell to acquire California software company

Milwaukee-based Rockwell Automation Inc. announced today it has reached a definitive agreement to acquire Incuity Software, Inc., a privately held company that is a leading supplier of Enterprise Manufacturing Intelligence (EMI) software.
Headquartered in Mission Viejo, Calif., Incuity manufactures software that provides real-time intelligence for business decision support to improve operations and reduce production waste by providing valuable management insight into a company's operations.
Financial terms of the transaction were not disclosed.
"This acquisition is a key milestone in the continued expansion of our FactoryTalk software suite," said Kevin Roach, vice president of Rockwell Software. "Their newest software, IncuityEMI 2.6, easily integrates many disparate information sources from production operations and other enterprise systems. IncuityEMI 2.6 delivers unique insights into enterprise performance and key operational metrics, and empowers personnel to drill down and analyze the root causes associated with manufacturing problems. Combining Incuity's capabilities with the FactoryTalk integrated production management and performance suite will create tremendous value for our customers."
Doug Lawson, CEO, Incuity Software, said: "Getting enterprise manufacturing information into the hands of decision-makers now is a vital business need. IncuityEMI is the most innovative and exciting application in the market for this purpose. This acquisition combines our business with the resources, technology, customer base and global delivery capabilities of Rockwell Automation and will be good for our customers. Rockwell Automation is the perfect partner for Incuity."

Magnetek to sell off division

Magnetek Inc. today announced plans to sell its Telecom Power Systems business, which is based in Menomonee Falls.
The division, which generated approximately $16 million of Magnetek's total sales of $103.8 million in fiscal 2007, employs about 25 people in Menomonee Falls and another five people in a sales office in Dallas, Texas.
Magnetek said it will focus its efforts on enhancing shareholder value through investment in and growth of its core power control and systems businesses, as well as strategic acquisitions in its product lines serving the material handling, elevator, and alternative energy industries.
"Magnetek's strategy is to focus on our core businesses where we have growth opportunities and a sustainable competitive advantage," said Magnetek chief executive officer David Reiland.
As previously announced, Magnetek recently acquired the assets of Enrange LLC of Canonsburg, Pa., a wireless control manufacturer providing radio remote controls for the material handling, industrial, hydraulic and rock mining industries.
Beginning with the fourth fiscal quarter, Magnetk will account for the Telecom Power Systems business as a discontinued operation.

Snap-On cashes in on weak dollar with foreign sales

Snap-on Inc., a Kenosha-based manufacturer and marketer of tools, diagnostics, equipment, software and service solutions for professional users, today announced first quarter earnings of $56.6 million, or 98 cents per share, up from $39 million, or 67 cents per share, in the same period a year ago.
The company's net sales increased $15.9 million over prior year to $721.6 million, including $33.2 million from currency translation as a result of the company's continued geographic diversification initiatives. Forty-four percent of the company's quarterly sales came from outside the United States
"Snap-on's first quarter results clearly reinforce the strategic importance of our global scope and customer diversification initiatives, particularly in light of the more challenging economic environment in the United States," said Nick Pinchuk, Snap-on's president and chief executive officer. "Our broad and expansive product portfolio and global customer base, combined with the essential nature of the productivity solutions we provide to professional users, has us well-positioned to achieve a strong and sustainable platform for profitable growth. Our associates continue to make progress in executing our strategies to extend our brands to new customers, improve our global supply chain, strengthen customer service and reduce overall complexity and cost, and I thank them for their ongoing efforts and support. In that regard, I also want to thank our franchisees for their loyalty and their contributions in building a stronger Snap-on."

Twin Disc reports steady quarter

Twin Disc Inc. today reported fiscal third quarter net earnings of $7.9 million, or 70 cents per share, up from $7.5 million, or 64 cents per share, for the same quarter a year ago.
The Racine-based manufacturers' sales for the quarter were $85.8 million, down slightly from $86.4 million for the same period a year ago.
Michael Batten, chairman, president and chief executive officer of Twin Disc, said, "We are pleased with the results of the third fiscal quarter. Demand for our commercial and pleasure craft marine products continued to increase. Sales and orders of our commercial marine gears into Southeast Asia and the Gulf Coast of the United States remain strong, as do marine propulsion and boat management system sales into the Italian mega yacht market. The increase in marine product sales has helped to insulate the company from the softness that we continued to experience in the third quarter in the oil and gas transmission and industrial product sectors. Demand for our land based transmissions for military applications and Airport Rescue and Fire Fighting (ARFF) vehicles remains high."

Journal Communications reports rocky quarter

Journal Communications Inc. today reported first quarter net earnings of $6.7 million, or 11 cents per diluted share, which was down sharply from $73.3 million, or $1.05 per share, in the same period a year ago.
The Milwaukee media company's first quarter of 2007 received a boost of $65.1 million from the sale of its Norlight Telecommunications Inc. subsidiary and clusters of its community newspapers and shoppers division.
The company's quarterly earnings from continuing operations were $6.3 million, down 23.7 percent from $8.2 million a year earlier.
For the first quarter of 2008, the company's revenue of $134.3 million decreased 6.2 percent from $143.2 million last year.
"The weak economy continued to negatively impact our advertising-based businesses in the first quarter of 2008, especially in the real estate and employment classified categories at the daily newspaper and at our Las Vegas, Ft. Myers/Naples and Tucson broadcast properties," said Steven Smith, chairman and chief executive officer of Journal Communications. "As revenue remains challenged, we are maintaining strict cost control and seeking operating efficiencies wherever possible. We remain focused on creating compelling local content across our media businesses. Nothing demonstrates this more convincingly than the Milwaukee Journal Sentinel's receipt of the 2008 Pulitzer Prize in the category of 'Local Reporting' for David Umhoefer's 2007 investigation of the Milwaukee County pension system."

County supervisors re-elect Holloway as board chairman

After 45 ballots in a seven-hour session, the Milwaukee County Board of Supervisors finally voted to re-elect Lee Holloway as board chairman Monday night.
Supervisor Michael Mayo Sr. was elected first vice-chair, and Supervisor Peggy West was elected second vice-chair.
"I’m pleased that my colleagues have entrusted me to continue serving as chairman of the Board," said Holloway, who has served as chairman since 2002. "I look forward to continuing my record as an inclusive chairman leading the way on important decisions facing Milwaukee County over the next four years."
Four new Supervisors, elected on April 1st, were also sworn-in Monday: Theo Lipscomb, 1st District; Christopher Larson, 14th District; Joe Sanfelippo, 17th District; and John Thomas, 18th District .
The next regular meeting of the Milwaukee County Board of Supervisors is scheduled for Thursday, May 22, at 9:30 a.m. in room 200 of the Milwaukee County Courthouse.

Finalists named for UW-Whitewater chancellor post

University of Wisconsin System president Kevin Reilly announced five finalists who are being considered for the position of chancellor at UW-Whitewater.
A 22-member search and screen committee, chaired by UW-Whitewater professor Jimmy Peltier, recommended the finalists to Reilly and a special committee of the UW System Board of Regents chaired by regent Danae Davis of Milwaukee.
The five candidates will participate in public forums from April 23 to April 30, where they will interact with faculty, academic staff, classified staff, students and community members. Reilly and the Regent committee will interview the finalists in Madison on May 7. The final appointment of a new chancellor must be confirmed by the full Board of Regents.
The finalists are: Nancy Kleniewski, Ph.D., provost and vice president for academic affairs at Bridgewater State College in Massachusetts; Alfred Guillaume Jr., Ph.D., vice chancellor for academic affairs at Indiana University South Bend; Kenneth Borland, Ph.D., interim president at East Stroudsburg University in Pennsylvania; Richard Telfer, Ph.D., interim chancellor, UW-Whitewater; and John Folkins, Ph.D., chief executive officer of Bowling Green State University Research Institute in Ohio.
The person chosen will become UW-Whitewater¹s 15th chancellor, succeeding Dr. Martha Saunders, who now serves as president of the University of Southern Mississippi.
For more information about the five candidates, the public forums and the entire search process, see www.uww.edu/chancellorsearch.

BizTimes Money: Lubar invests in Illinois firm

Lubar & Co., a Milwaukee family-based investment firm has purchased a 50 percent ownership interest in Shared Imaging LLC, a Streamwood, Ill. provider of diagnostic imaging systems and service for hospitals and health care providers. Read more in the latest edition of the BizTimes Money bulletin.

State headlines: 'Public Enemies' gives Oshkosh a windfall

Last week's filming of "Public Enemies" in Oshkosh brought an estimated $4 million of economic impact into the community. Part of the Universal Studios-movie, which is a 1930s-era gangster film starring Johnny Depp as John Dillinger, was shot in downtown Oshkosh. Read more in SBT's daily roundup of headlines from newspapers across the state at www.biztimes.com/#news.

Milwaukee Biz Blog: Congress should extend tax cuts

Congress should extend the Bush tax cuts, according to U.S. Rep. F. James Sensenbrenner (R-Wis.), author of today's Milwaukee Biz Blog.

Stocks plummet again

The BizTimes Stock Index dropped .23 points to close at 160.50 Monday, and local stocks declined sharply this morning. The largest local decliners this morning included Bucyrus International Inc. (down $2.78 to $121.37), Snap-on Inc. (down $2.32 to $52.96) and Gehl Co. (down $2.00 to $17.61). Only a handful of local stocks managed to post gains this morning, led by Twin Disc. Inc. (up $2.04 to $17.10) and Manpower Inc. (up 56 cents to $64.73). 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.

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