At a time when many of the nation's largest banks and insurance companies are going to the federal government with requests for bailouts, Northwestern Mutual Life Insurance Co. is gliding through the recession and remains a vital cog of the Milwaukee region's economy. Conservative investment strategies and avoidance of the subprime mortgage market have positioned "The Quiet Company" to weather the economic storm. Read more in the cover story of this week's BizTimes Milwaukee. The new issue also features a story about Oak Creek's high hopes for the vacant Delphi plant site, the Manufacturing Spotlight and a report about how commercial real estate veterans are helping their younger colleagues keep up their morale during the economic downturn.

The U.S. economy lost 524,000 jobs in December, putting an alarming exclamation point on the worst year for job losses since World War II, the U.S. Labor Department reported today.
Nearly 2.6 million jobs were lost in 2008, including 1.9 million in just the past four months. The job losses are the most in any calendar year since 1945.
The nation's unemployment rate rose to 7.2 percent, the highest rate in 16 years. The number of people unemployed increased by 632,000 in December to 11.1 million.
"The economy is the jaws of a depression," said Peter Morici, professor at the University of Maryland School of Business and former chief economist at the U.S. International Trade Commission. "Unemployment increased to 7.2 percent in December; however, factoring in discouraged workers, unemployment is closer to 9.4 percent. Add workers in part-time positions that cannot find full-time employment, and the hidden unemployment rate is 14.5 percent."
The report sent the stock market into another freefall. The largest local decliners in the BizTimes Stock Index this morning were Kohl's Corp. (down $1.67 to $37.66), Manpower Inc. (down $1.60 to $33.12) and Harley-Davidson Inc. (down $1.56 to $16.02). Only a handful of local stocks managed to post meager gains this morning, led by Merge Healthcare Inc. (up 6 cents to $1.35) and Johnson Outdoors Inc. (up 3 cents to $5.65).

Julia Taylor, president of the Greater Milwaukee Committee, has been added to the featured speaker panel of the 2009 Northern Trust Economic Trends Breakfast to be presented by BizTimes Milwaukee on Wednesday, Jan. 1.
The event, which will provide insights about the year ahead in business, will take place at the Italian Community Center in downtown Milwaukee.
Taylor will provide a sneak peak of 2009 from the perspective of some of the region's largest employers. The GMC's mission is to keep southeastern Wisconsin the best community to live, learn, work and play. The GMC's membership includes 185 business, labor, academic, philanthropic, nonprofit and civic leaders.
In addition to Taylor, the speaker lineup for the conference will include:
* Michael Knetter, dean of the University of Wisconsin School of Business in Madison, will return to provide his macroeconomic outlook. Knetter, a former economic advisor to Presidents George H.W. Bush and Bill Clinton, will have some especially timely and critical insight at the 2009 event.
* Richard Meeusen, chairman, president and chief executive officer of Milwaukee-based Badger Meter Inc., will discuss the challenges and opportunities facing Wisconsin's manufacturers in 2009. Meeusen says Milwaukee's proximity to Lake Michigan will provide economic opportunities for the region. Badger Meter has grown to become a global company. The firm's stock is now traded on the New York Stock Exchange.
* Jane Cooper, founder, president and chief executive officer of Milwaukee-based Patient Care, the nation's leading advocacy company that helps employees navigate the health care system and become better consumers, will discuss the future of health care. Patient Care's clients include Assurant Health, Harley-Davidson Motor Co., MillerCoors LLC, Briggs & Stratton Corp., Regency Hospital Company and Midwest Airlines. Cooper founded her company in New Orleans in 2001. Cooper and her company fled to Milwaukee after Hurricane Katrina struck in 2005. Previously, Cooper was the CEO of the Community Physicians Network in Madison, Wisconsin, where she led a financial turnaround of the regional Independent Physician's Association (IPA). She also founded Advantage Health Plan, a regional preferred provider organization (PPO) and health maintenance organization, which grew to $280 million in annual revenues and 300 employees. Cooper also served as the chairman of the American Association of PPOs. She will discuss the future of health care in America.
* Jerry Shereshewsky, chief executive officer of Grandparents.com, will travel from New York City to Milwaukee to join the panel and speak about how Wisconsin businesses will have incredible opportunities to market their products and services to the growing population of baby boomer grandparents. This generation has wealth and is more vibrant, healthy and dynamic than any preceding generation of grandparents, according to Shereshewsky, who is a legend on New York's Madison Avenue. Shereshewsky invented the Mellow Yellow brand of soda. After stints among the "Mad Men" with Wunderman, Burson Marsteller, the Bertelsmann Music Group (BMG) and Yoyodyne, Shereshewsky became one of the driving forces in the growth of Yahoo!, where he spent almost nine years overseeing marketing for the Yahoo! Media Sales Group. Shereshewsky, a graduate of the University of Wisconsin in Madison, served on the board of directors of the Direct Marketing Association (DMA), as well as the Dean's Advisory Board at the UW School of Business.
To register to attend the event, visit www.biztimes.com/trends.

Credit unions in Wisconsin are joining a new program called "Invest in America," in which their members are eligible to receive discounted loans to buy cars from General Motors Corp. and Chrysler LLC.
Credit unions across the nation are making as much as $80 billion available for low-cost loans on new cars.
As part of "Invest in America," which will run through March 31, 90 million credit union members nationwide - including 2.2 million in Wisconsin - can gain access to GM's Credit Union Member Discount Program and Chrysler's Credit Union Member Cash discounts, as well as low-cost financing on new vehicle purchases.
In the program, GM is offering supplier price discounts, while Chrysler is offering rebates of $500 or $1,000 on eligible vehicles.
The program was piloted in a handful of states but had expanded nationwide to provide more consumers with affordable financing options. Non-members can join a credit union to access the discounts.
"Credit union members can feel good knowing they're saving money through these offers, but also because they're helping to reinvigorate the auto industry - a vital part of the U.S. economy," said Brett Thompson, president and chief executive officer of the Wisconsin Credit Union League.
Auto lending has traditionally been credit unions' "bread and butter," Thompson said.
"America's credit unions have billions to lend. They began in the United States during the Great Depression, and they seem to come into vogue when times are toughest," Thompson said.
Thompson said nonprofit credit unions are financially strong and ready to lend, while other institutions have restricted credit.
"In a down economy, more people are looking at used cars or simply not buying," Thompson said. "So, credit unions - which don't chase profits - provide an obvious solution to helping people opt for a new vehicle simply because the rates credit unions can offer will give consumers more car for their money."
For more information about the new program, visit www.lovemycreditunion.org.

Verizon Wireless announced today it has completed its purchase of Alltel Corp. from Atlantis Holdings LLC, creating the largest wireless carrier in the nation.
Verizon Wireless is a joint venture of Verizon Communications and Vodafone.
Consistent with the terms of the transaction announced on June 5, 2008, Verizon Wireless paid approximately $5.9 billion for the equity of Alltel.
The acquisition expands Verizon Wireless' network coverage to approximately 290 million people, nearly the entire United States population, and increases the company’s customers by 12.9 million, after conforming adjustments and before required divestitures.
The combined company has more than 83.7 million total customers. Approximately 2.1 million of those total customers are in markets that will be divested by Verizon Wireless in the coming months, as required by the Department of Justice (DOJ) and the Federal Communications Commission (FCC) as a condition of the merger approval.
In markets that will be retained and combined with Verizon Wireless’ operations, the company will continue to use the Alltel brand for the next several months, as it works to integrate networks, convert billing systems and upgrade high-speed wireless broadband service.
Alltel customers in markets to be retained will receive a letter during the next few weeks informing them about the purchase and the array of new and advanced services that will be available to them when they transition to Verizon Wireless.
Alltel customers do not need to take any action at this time. Customers' current service plans, prices and features, including My Circle, will remain the same throughout the transition.
Since Verizon Wireless and Alltel use the same technology platform, the vast majority of customers will be able to use their current handset after the transition to Verizon Wireless.
Basking Ridge, N.J.-based Verizon Wireless will re-brand Alltel operations in the retained markets in phases, beginning in the second quarter and continuing through the third quarter of 2009, as billing conversions are completed throughout the country. During the transition period, Alltel-branded stores will remain open to serve customers.
Alltel employees below executive level will continue in their present jobs as Verizon Wireless assesses staffing needs required to best serve customers and achieve synergies.
Verizon Wireless expects to realize synergies with a net present value, after integration costs, of more than $9 billion, driven by aggregate capital and operating expense savings. 

New Berlin-based HK Systems Inc. today announced the appointment of Michael Gonzalez to the chief executive officer.
Gonzalez had been serving as president and chief officer of the firm, which is North America's most experienced automated material handling and supply chain software total solutions provider. The company's product and service offerings include automated storage and retrieval systems, automated guided vehicles, conveyance, sortation, customer services and supply chain software solutions.
Effective immediately, Gonzalez will oversee the company's sales and marketing management, manufacturing operations management, engineering management, project management, human resources, accounting services and legal counsel. He also will join the HK Systems board of directors.
Gonzales succeeds John Splude, who will assume the position of executive chairman and will be responsible for the company's domestic and international acquisition strategy and growing HK Production Logistics, a new subsidiary providing turn-key integrated warehousing and order fulfillment management solutions for organizations experiencing supply chain complexity.
Splude said, "I have known Mike Gonzalez for more than 15 years and since joining HK Systems as president and chief operating officer, he has provided outstanding operational vision and guidance. On behalf of the HK Systems organization, we are excited to have him as our chief executive officer."
"I am excited to lead HK Systems toward our strategic vision of being a world leader in providing integrated supply chain solutions," Gonzalez said. "We have a dedicated team, known for its creativity and execution excellence. With their support, we will continue to design, implement, and support premier industry solutions that enable our customers to achieve extraordinary business results."

The Pleasant Prairie Village Board on Thursday approved the issuance and sale of $6 million in general obligation promissory notes to pay for project costs related to the frontage road system being constructed to serve the Uline Inc. and Abbott Laboratories properties.
The money will be used to fund the village's work in its tax incremental district (TID) #2.
Uline is constructing a new corporate headquarters campus just west of Interstate 94 in Pleasant Prairie, and the Pleasant Prairie board approved a development agreement for land owned by Abbott Laboratories, north of the Uline site.
"We began watching for favorable borrowing conditions in late 2008 but delayed issuing the notes until January to take advantage of traditionally lower interest rates after the start of the new year," said Kathy Goessl, finance director for the village. "This strategy, in addition to our recently upgraded credit rating, will save over $500,000 in interest costs."
The newly issued notes will mature in six years, by September of 2015. The debt will be repaid with property taxes from businesses within the district.
Uline will move its headquarters across the state line to Pleasant Prairie from Waukegan, Ill. The facility will consist of 218,000 square feet of office space and 1 million square feet of distribution space.

West Bend-based Commerce State Bank announced it will open Commerce State Bank of Cedarburg this spring at the corner of Washington Avenue and Lincoln Boulevard, as the anchor tenant in the Bloch Plaza Building.
Cedarburg resident Joe Fazio, who is chairman and chief executive officer of Commerce State Bank, said, "With the significant changes in ownership of Ozaukee County's community banks, we see the need for a locally owned bank in Cedarburg. Nearly all our shareholders live in southeast Wisconsin; many from Cedarburg and Ozaukee County."
Joining Fazio at Commerce State Bank of Cedarburg will be Marci Hauck, client services representative/business coordinator, and Mary Hazell, operations manager.
Commerce State Bank opened in fall of 2005 and has grown to $275 million in assets.

The physicians of Northern Lake Medical Ltd., a primary care practice with clinics in three northern Illinois communities, announced they will join the Milwaukee-based Aurora Health Care system.
The five internal medicine physicians serve patients through clinics in the Lake County communities of Gurnee, Lindenhurst and Fox Lake.
"The Northern Lake Medical physicians have built a reputation for high-quality care and excellent service, and we look forward to working with them and their patients," said Jeff Bailet, M.D., president of Aurora Medical Group.
Mark Tucci, M.D., president of Northern Lake Medical, said he and his colleagues were attracted to Aurora because it is a physician-led organization that emphasizes continuous quality improvement.
"We know that Aurora Health Care will support our practice and work with us to ensure that our patients receive outstanding care," Tucci said. "Aurora is a fully integrated system of care that can provide all of the services our community may need."
Patients of Northern Lake Medical will have access the hospital services available at Aurora Medical Center in Kenosha.
Nick Turkal, M.D., Aurora's president and chief executive officer, said, "A growing number of Illinois residents are seeking health care services in Wisconsin, and our Kenosha hospital's proximity to communities in northern Illinois makes it an attractive option."
Bailet said, "The corridor between Kenosha and Chicago's northwestern suburbs is developing rapidly, and people are routinely crossing the state border for health care, employment, shopping, recreation and other purposes."
All of Northern Lake Medical's 43 employees will become employees of Aurora Medical Group.

The Milwaukee Brewers on Thursday announced an unprecedented partnership in which Potawatomi Bingo Casino will serve as the team's presenting sponsor.
Rick Schlesinger, executive vice president of business operations for the Brewers, said in the multi-year partnership, Potawatomi Bingo Casino will have local advertising and marketing rights and sponsorship radio and print material, on regular season game tickets, on both the home and visiting dugout tops, on the outfield wall pad, on rotational signs, on scoreboards, on banners and on the Miller Park plaza light poles.
The presenting sponsorship, the first of its kind in Wisconsin major league sports franchise history, will be referred to as "Milwaukee Brewers Baseball presented by Potawatomi Bingo Casino."
"It's a great way to start the new year," Schlesinger said. "We are looking forward to meeting Potowatomi's needs, exceeding expectations and creating a branding relationship."
Mike Goodrich, general manager of Potawatomi Bingo Casino, said, "What really sparked this business idea was the idea of raising awareness for business in the Menomonee Valley. That's what this is all about."

Two developers are pitching competing and dramatic proposals for a new Central Library in downtown Madison. T. Wall Properties has proposed a $46.5 million, nine-story mixed-use structure with the library on the second, third and fourth floors. The Fiore Cos. has proposed a $80 million plan with a new six-story library building and a hotel or office building on the site of the existing library. Read more in BizTimes Milwaukee's daily roundup of headlines from newspapers across the state at www.biztimes.com.

The federal bailouts are blurring the lines of distinction between capitalism and socialism, according to Einar Tangen, BizTimes Milwaukee's China correspondent. Read more in the latest edition of Tangen's Dispatches From China.

Busy readers of the BizTimes Daily can get a jumpstart on the weekend ahead by reading the OnMilwaukee.com Weekend Preview. OnMilwaukee.com is a media partner of BizTimes Milwaukee.

In today's Milwaukee Biz Blog, Milwaukee County Executive Scott Walker responds to criticism about his refusal to seek federal stimulus funding for the county.

Milwaukee County Board Chairman Lee Holloway announced this afternoon that he will submit a list of potential capital and infrastructure projects on behalf of the county to the Obama administration.

President-elect Barack Obama is calling for state and local governments to provide such lists of projects that could receive federal funds as part of his national economic stimulus plan to rebuild America's infrastructure, create jobs and ease the recession.

Wisconsin Gov. Jim Doyle and Milwaukee Mayor Tom Barrett have provided their "wish lists" to Obama.
Milwaukee County Executive Scott Walker has refused to provide such a list for his county, as he contends it would result in additional government spending.

Holloway said today he will bypass Walker and provide a list for Milwaukee County.

In a statement, Holloway said, "In the absence of leadership from the County Executive, I am stepping forward on behalf of the residents of Milwaukee County. By Thursday of next week, I will submit a list of capital and infrastructure improvements for consideration as part of the federal stimulus package. Governor Jim Doyle is working with the federal government on the Wisconsin’s economic stimulus projects, and I am working with him to ensure that Milwaukee County submits a list of projects to stimulate our local economy. This is a bigger issue than just Scott Walker. This is an attempt by the incoming Presidential administration to get our entire nation moving again. I do not want to see 71 other counties in Wisconsin and 49 other states receive stimulus funding while Milwaukee County is left behind."

Holloway's previous letter to Walker was posted as a Milwaukee Biz Blog earlier this week.
Walker's response to Holloway's letter also was posted as a Milwaukee Biz Blog.