Tuesday, January 6, 2009
BBB launches new letter grade system to rate businesses
To help consumers make better-informed decisions on where to spend their money, the Wisconsin Better Business Bureau today announced it is assigning letter grades to local businesses ranging from A+ to F.
The letter grade system replaces a less-detailed scale of "satisfactory" or "unsatisfactory" and represents the BBB's degree of confidence that a business is operating in a trustworthy manner and will make a good faith effort to resolve customer concerns.
Consumers can research the grades of millions of businesses throughout the United States and Canada, including almost 68,000 Wisconsin businesses, by reviewing BBB Reliability Reports.
The reports are available online and free of charge.
The majority of the Wisconsin companies (27,750) are rated at a B-, although more than 3,500 rate at an A+ and almost as many rate at an F.
In addition to noting a company's letter grade, the BBB Reliability Report also includes details about integrity and performance, such as the number of complaints a business has received, its response to complaints and details on any government actions against the business.
"Given the current tough economic conditions, consumers literally can't afford to make bad buying decisions," said Randall Hoth, president and chief executive officer of the Wisconsin BBB. "These reports make it extremely easy and convenient for consumers to research and compare local businesses - before they buy."
BBB's proprietary ratings formula takes into account 16 weighted factors, using objective information and actual incidences of a company's behavior that have been verified and evaluated by BBB professionals. Specific issues affecting a company's rating are described in detail in BBB Reliability Reports, including: the company's overall complaint history with BBB; whether complaints have been resolved in a timely manner or the business has demonstrated a good faith effort to resolve them; how long the business has been operating and whether it meets appropriate competency licensing; government actions against the business related to marketplace activities; advertising issues evaluated by BBB; whether the business is a BBB Accredited Business and has committed to BBB standards.
As part of its strategy to build trust in the marketplace, BBB also recently changed the way businesses affiliated with the organization are designated, from "BBB Member" to "BBB Accredited Business." The "Accredited" designation highlights the fact that businesses have been evaluated by BBB and have contractually agreed to meet and uphold BBB's high standards for integrity and reliability when dealing with consumers.
For more information or further inquiries, contact the Wisconsin BBB at www.wisconsin.bbb.org or (414) 847-6000.
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Columbia St. Mary's opens new brain disorder center
Patients suffering from a brain disorder known as Chiari malformation (CM) can now be treated in the new Wisconsin Chiari Institute that has been opened by Columbia St. Mary's Health System.
The new institute, located in Milwaukee's Prospect Medical Commons, is one of just a handful of such facilities in the world dedicated to the care and treatment of CM.
The Wisconsin Chiari Institute is led by Dr. Dan Heffez, a nationally renowned neurosurgeon regarded for his surgical skill and ability in the management of complex conditions such as CM.
"Chiari malformation is a serious neurological disorder in which the inferior part of the brain, the cerebellum, protrudes out of the base of the skull and crowds the spinal cord, putting pressure on both the brain and spinal cord and causing a variety of symptoms," Heffez said.
It has been estimated that the CM occurs in less than 1 percent of the population, but the increased use of diagnostic imaging has shown that it may be much more common than previously thought.
CM is usually a congenital defect, but on occasion may be precipitated by a spinal drain or spinal tap.
"On average, by the time we see a patient, they have been to maybe 10 different doctors over several years. They are desperate and at their wits end, trying to find an answer," Heffez said.
The Wisconsin Chiari Institute is located at 2311 N. Prospect Ave. Additional information is available at www.wichiariinst.org.
Auto dealer Safro dies
Jack Safro, one of the Milwaukee area's most prominent auto dealers, died Monday night from a heart attack at his Pine Lake home in Waukesha County.
Jim Tessmer, vice president of the Jack Safro Group of dealerships, said funeral arrangements are pending for Safro.
Safro, 72, started his business in 1962 with a dealership in Pewaukee.
Today, his company operates five dealerships: Jack Safro Toyota in Brookfield; Jack Safro Ford & Lincoln Mercury in Oconomowoc; Lexus of Brookfield; Lexus North Shore in Brookfield and Glendale; and Infiniti North Shore in Glendale.
In a prepared statement, the company said today, "Jack has many long-term employees because of his belief in treating them like family. There are over 375 employees, many having over 20 years with the company. His philosophy for customer satisfaction was to treat everyone as a guest in his home."
Primum launches Case Study Shop to market businesses
Milwaukee-based Primum Marketing Communications has launched the Case Study Shop, a new division that helps businesses tell their success stories in print, web and video formats.
"In a choppy economy, we're bullish on the idea that companies can gain market share if they can demonstrate an ability to deliver," said Colin Hutt, director of the Case Study Shop director. "A case study is a cost-effective method for communicating results. Companies tell us that they want to do case studies, and they also tell us that getting them done is a struggle. No agencies we know of in the country really specialize in them."
The Case Study Shop can help businesses with all aspects of creating case studies, including research, interviews, writing, template design and video production.
For more information, visit www.casestudyshop.com.
Wisconsin native appointed to key Ex-Im Bank post
Fond du Lac native John Richter has been named senior vice president of the small business division of the Export-Import Bank of the United States (Ex-Im Bank).
Ex-Im Bank is the official export-credit agency of the United States.
Richter is responsible for leading all Ex-Im Bank activities to identify and educate U.S. small-business exporters in order to attract them to the bank's product offerings.
He chairs Ex-Im Bank's Small Business Committee and manages Ex-Im Bank's network of regional branches and the units engaged in outreach to minority- and woman-owned businesses, partner identification and training, as well as small business product development. He continues to have a special focus on bringing private sector practices and a client service orientation to Ex-Im Bank.
"John Richter's knowledge of international trade finance, combined with his enthusiasm and demonstrated rapport with small-business exporters, foreign buyers and our lender partners is an unbeatable combination," said James Lambright, Ex-Im Bank chairman and president.
Richter's 30 years of international management experience includes executive positions with Mercury Marine, a division of the Brunswick Corp., where he was responsible for marketing, sales and credit in national and international markets. He has also worked in that capacity for the Master Lock Company and a division of Uniroyal Corp.
In fiscal 2008, Ex-Im Bank authorized $3.2 billion in direct support of U.S. small businesses as primary exporters.
Awards will honor the best of downtown Racine
Downtown Racine Corp. (DRC) is accepting nominations for the 2008 Downtown Racine Annual Achievement Awards.
These awards recognize individuals, businesses and organizations who have contributed to the vitality of downtown during the past year. The awards will be presented at the Downtown Racine Corp. annual meeting on Tuesday, Jan. 27.
Nominations are now being accepted in the following categories: the Downtown Showcase Award, the Downtown Champion Award, the Corporate Citizenship Award, the CPR Award and the Best New Small Business Award.
Nomination forms are available at the DRC office at 425 Main St. or can be obtained on-line at http://www.racinedowntown.com/document/2008NominationForm.pdf. Nominations should be submitted to the DRC by 5 p.m. on Thursday, Jan. 15.
Walker names Takerian for interim Public Works post
Milwaukee County Executive Scott Walker announced that Jack Takerian, current director of facilities management and operations for the county, will serve as interim director of the Department of Transportation and Public Works.
Takerian will take over the responsibilities of George Torres, who resigned to become the chief executive officer of La Causa Inc.
Walker said the county has begun for a nationwide search to find a successor for Torres.
Bill Tietjen will be acting as fleet manager under a personal services agreement pending the hire of a permanent fleet manager. Dave Schaning, assistant director of facilities management and operations, will assume Takerian's role as facilities director during the transition.
Barrett picks Tabak as new communications director
Milwaukee Mayor Tom Barrett announced the appointment of Jodie Tabak to be his communications director.
Tabak previously was Barrett's special assistant and was accountable for managing the daily operations of the mayor's office since 2004.
"She has served Milwaukee residents and the mayor's office with great professionalism and passion during her five-year tenure. Her keen understanding of municipal government, the administration's initiatives and the great challenges and opportunities facing our community are a tremendous asset to this office," Barrett said.
Prior to joining the Barrett administration, Tabak worked as a special events/communications project manager for the Harley-Davidson Motor Co. and as a regional coordinator for the Muscular Dystrophy Association.
Tabak replaces Eileen Force, who recently left the administration to take a position at Robert W. Baird & Co. Inc.
Brooke VandeBerg replaces Tabak as special assistant to the mayor. VandeBerg was previously manager of constituent relations. Alexis Peterson is the new manager of constituent relations.
Portage manufacturer acquires Michigan firm
Penda Corp., a Portage-based manufacturer and marketer of thermoformed solutions, has merged with Durakon Industries Inc. of Lapeer, Mich.
Durakon is a supplier of advanced thermoformed automotive components.
The name of the new entity will remain Penda Corp., and the headquarters will be in Portage.
Both companies supply parts to the automotive industry. Penda is a portfolio company of Resilience Capital Partners. Durakon is a portfolio company of Littlejohn & Co. LLC.
"Combining the core competencies, capacities and complementary channels to market of Penda and Durakon will create a leading heavy gauge thermoformer with a strong technology base, sufficient capacity for future growth and diversified market participation," said Ulf Buergel, president and chief executive officer f the combined companies.
State headlines: Oak Creek power plant builder seeks $40 million from Madison Gas & Electric
Madison Gas & Electric is being asked to pay another $40 million for its share of the cost of the Oak Creek coal-fired power plant. The company that is building the power plant, Bechtel Power Corp., says bad weather and other delays have raised expenses and put construction three to six months behind schedule for the first of two 615-megawatt generating units. Bechtel estimates, in a letter to project developer Wisconsin Energy Corp., that the power plant will cost nearly $2.7 billion, or $485 million more than the $2.2 billion price approved by state regulators, and says the owners should pick up the tab. Read more in BizTimes Milwaukee's daily roundup of headlines from newspapers across the state at www.biztimes.com/#news.
Stocks bounce back
The stock market bounced back into positive territory this morning as investors absorbed the news that President-elect Barack Obama is calling for more than $300 billion in tax cuts for families and individuals, as well as tax credits of $100 billion for businesses that hire more workers. The largest local gainers in the BizTimes Stock Index this morning were Bucyrus International Inc. (up 95 cents to $22.60) and Metavante Technologies Inc. (up 84 cents to $16.45). The largest local decliners this morning were Badger Meter Inc. (down $1.10 to $28.07) and Strattec Security Corp. (down 52 cents to $18.03).
BizTimes Money: Greenfield accounting firm acquires West Allis competitor
Nolan Accounting Center, a Greenfield-based accounting firm that focuses on small-business clients, has acquired West Allis-based Mitter Accounting & Associates Inc. Read more in this week's BizTimes Money bulletin.
Milwaukee Biz Blog: A free-market cure for insurance 'job lock'
Is there merit to the idea that all individuals should own their own insurance? Certainly many employers could/would still continue to subsidize premiums, but "job lock" would be a thing of the past, according to Jon Rauser, author of today's Milwaukee Biz Blog.
Gregory Marcus succeeds father at helm of company
The Marcus Corp. today announced that its board of directors has elected company president Gregory Marcus, 44, as chief executive officer of the firm.
His father, Stephen Marcus, 73, will continue to serve as chairman.
Gregory is the third generation of the Marcus family to serve as CEO of the Milwaukee theater and hospitality company, which was founded by Stephen's father, Ben Marcus, in 1935.
Gregory had been serving as president of the company since last January. As part of his additional responsibilities as CEO, the executives who are responsible for the firm's two main operating divisions, Bruce Olson, president of Marcus Theatres, and Bill Otto, president of Marcus Hotels and Resorts, will now report to Gregory.
Stephen will continue to serve on the company's investment committee and work on the development of the firm's strategic initiatives.
"Since joining the company in 1992, Greg has had a significant role in helping us get to where we are today. He is a strong leader who understands our business, our culture and our people. All of us who have worked with Greg throughout the years have experienced first-hand his enthusiasm, knowledge and pride in the company. I am confident that under Greg’s leadership we will continue to build on our 73 years of growth and success," said Stephen, who had been president and CEO since 1988.



