Wednesday, October 7, 2009
Obama's health care reforms gather new momentum
President Barack Obama's push for health care reforms is gaining renewed public support, according to new polls, and also is attracting the support of some prominent Republicans, including former Wisconsin Gov. Tommy Thompson.
The latest New York Times/CBS News poll found that nearly two-thirds of Americans support the creation of a public option to compete with private insurance plans.
The latest Associated Press-GfK poll has found that opposition to Obama's health care reforms dropped dramatically in just a matter of weeks. The public is split 40-40 on supporting or opposing the health care legislation, the poll found. An even split is welcome news for Democrats and a sharp improvement from September, when 49 percent of Americans said they opposed the congressional proposals and just 34 percent supported them.
The White House released a joint statement of support from Thompson, a Republican who served as President George W. Bush's secretary of health and human services, and Richard Gephardt, a former Democratic Congressional leader.
"The bill that the Senate Finance Committee will vote out for consideration by the full Senate this week is another important step toward achieving the goal of health care reform this year. It moves us down the path of providing affordable high-quality health care for all and expanding coverage for millions," said the joint statement by Thompson and Gephardt. "Failure to reach an agreement on health reform this year is not an acceptable option. Inaction will only increase the burden of rapidly rising health care costs and care denied for millions of American families. Inaction will increase the crushing burden of rising health costs on American businesses that are struggling to create jobs and lead America's economic recovery. It is time for action."
Meanwhile, former Senate Majority Leader Bill Frist, a Republican physician from Tennessee, said in a Time magazine interview that were he still serving in Congress he would vote for the health care bill.
The White House also released a statement by Arnold Schwarzenegger, California's Republican governor, urging the passage of national health care reforms, and New York Mayor Michael Bloomberg, a former Republican who is running for re-election as an independent, also voiced his support of reforms.
Obama met with 150 doctors from around the country at the White House on Monday.
The Senate Finance Committee, the last of five panels in Congress to move on health care legislation, aims to vote within days on a health care reform bill.
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Senate approves $27 million for Milwaukee area defense projects
The U.S. Senate today approved Wisconsin Sen. Herb Kohl's request to direct $27.8 million in federal funding toward national defense projects involving companies in southeastern Wisconsin.
The projects are included in the Senate version of the fiscal 2010 Defense Appropriations Bill. Kohl is a member of the Senate Appropriations Committee, and had identified the Wisconsin projects as priorities for funding.
"These programs will give our military the updated technology they need to operate at home and abroad. This funding creates more energy efficient equipment that will save both the military and taxpayers money," Kohl said.
As part of the appropriations legislation, Kohl received approval for:
- $3 million for advanced corrosion protection for military vehicles and equipment at PPG Industries Inc. in Oak Creek. The research will apply state of the art, high performance, environmentally friendly, anti-corrosion technologies and specialty materials for use in military applications.
- $4 million for cogeneration for enhanced cooling and heating of advanced tactical vehicles at Modine Manufacturing Co. in Racine. The project will capitalize on prior technical breakthroughs for evaporator and condenser design to produce demonstrators that can be rapidly transitioned to active tactical vehicle programs. The program will use CO2 instead of more traditional Freon for air conditioning.
- $2.4 million for enhanced medical situational awareness at Shoreland Inc. in Milwaukee. The project will continue to develop a worldwide network accessible through a hand held device that will guide members of the military anywhere in the world to the nearest and best medical facility.
- $2.6 million for integrated alternative power systems at Eaton Corp. in Milwaukee. The project will design, develop and build the smart nodes for an electric distribution system that balances power sources for optimal security and power efficiency by enabling a reconfigurable power network, also known as a microgrid.
- $6 million for large format lithium ion battery at C+D Technologies in Milwaukee. The project will develop the large batteries the Army needs to meet the demands of its new vehicles.
- $2.4 million for microdrive for future HVAC systems at DRS Technologies in Milwaukee. The project will develop small, light, and cooler drive systems that can react smoothly to temperature variations on ships.
- $3.4 million for the fan coil assembly of the future at DRS Technologies in Milwaukee. The project will create the fan coil assemblies that will give the Navy 25 to 50 percent more cooling capacity, while also reducing weight by 25 to 50 percent and lowering noise.
- $4 million for fire and blast resistant materials for force protection at Triton Systems in a joint venture with Marquette University to develop a spray on coating that will provide improved blast resistance while also reducing smoke and toxic fumes in the event of fire.
The funding measure was passed by the Senate and now goes to a House-Senate conference committee.
Wisconsin unemployment claims jumped last week
After several weeks of declining, the number of people filing first-time applications for unemployment insurance in Wisconsin rose last week.
First-time filers increased to 17,701 from 16,055 in the prior week. However, the number of ongoing filers dropped last week to 127,956 from 128,973 in the week before.
Wisconsin's seasonally adjusted unemployment rate stands at 8.8 percents, which is lower than the national rate of 9.7 percent.
Johnson Diversey gets new equity investor and new name
JohnsonDiversey Inc. announced today that a fund managed by Clayton Dubilier & Rice Inc. (CD&R) will invest $477 million to obtain a 46-percent equity interest in the Racine company as part of a broader recapitalization transaction valued at $2.6 billion.
The recapitalization will provide JohnsonDiversey with the financial flexibility to accelerate growth in the global commercial cleaning and hygiene market. In addition to the CD&R fund investment, the transaction contemplates a debt financing package of approximately $1.9 billion.
With annual sales of more than $3.0 billion into more than 175 countries, JohnsonDiversey is a leading global provider of commercial cleaning, sanitation and hygiene solutions. The company serves commercial customers in the building, retail, health care and food and beverage sectors, as well as large, public sector clients such as the National Health Service in the U.K. and the State of New York. Among its private-sector customers are The Coca-Cola Company, PepsiCo., Walgreens and global facilities services provider ISS.
"JohnsonDiversey is a market leader providing innovative products and services to meet the needs of a world increasingly concerned about health and hygiene," said Richard Schnall, a CD&R partner. "The management team has positioned the company for future growth, and we look forward to working closely with them to continue building on the company's competitive strengths and creating an even more valuable enterprise over the long term."
Under the terms of the agreement, the Johnson Family of Racine, will retain 50 percent ownership in the company, and S. Curtis Johnson will remain chairman. CD&R operating partner James Berges will serve as chairman of the executive committee. Unilever will also retain a 4-percentownership interest in the company. JohnsonDiversey will continue under separate agreements to sell and distribute into the commercial market certain Unilever and S.C. Johnson & Son Inc. consumer-branded products.
"This is an exciting development in the evolution of our company," Johnson said. "The Johnson Family is pleased to move forward with a proven business builder and strong equity partner of CD&R's caliber. The firm's integrity, culture and values align well with our own."
JohnsonDiversey president and chief executive officer Ed Lonergan said, "We've made great progress in recent years and continue to be our customers' partner of choice for superior and sustainable cleaning and hygiene solutions that protect human health and the environment. CD&R's investment provides both financial flexibility and access to the firm's significant operating expertise that will help us continue to achieve our long-term objectives."
JohnsonDiversey also announced it will adopt a new corporate identity that reflects elements of the strong global brand equity in the current name and also retains the depiction of a water lily in its logo, a reflection of the Johnson family's heritage of environmental leadership. The company's new name will be simplified to Diversey Inc., and its identity will be formally captured in the new tagline, "for a cleaner, healthier future."
"Our new identity will both acknowledge our rich heritage and offer a compelling view of the enduring benefits that our products and services provide," Mr. Johnson said. "Our people are inspired by the difference we make in people's lives."
Milwaukee Rep selects new artistic director
The Milwaukee Repertory Theater's board of trustees today announced that internationally acclaimed director Mark Clements will become the company's next artistic director.
Clements has directed at more than 100 major theaters in the United States and Europe, including productions in London's West End, 11 seasons as the artistic director of the Derby Playhouse in the United Kingdom and six seasons as associate artistic director for the Moving Theatre Company, founded by Vanessa and Corin Redgrave.
In the United States, his work has been seen at New York's Roundabout Theatre and Classic Stage Company; and at Philadelphia's Walnut Street Theatre. Clements, who is currently directing Oliver! at Walnut Street Theatre, will begin his debut season with The Rep in the fall of 2010.
"I'm really proud and honored to have this opportunity to help guide the artistic vision of one of the premier American theater companies and to become a part of the Milwaukee community," Clements said. "The Rep's actors and staff are among the best in the world, and I'm so excited to work with them, to extend the company's reach in Milwaukee and across the country and to find new ways for The Rep and its community to work together to create spectacular art."
Judy Hansen, chair of The Rep's artistic director search committee, said "Mark brings a new level of dynamic energy to The Rep and to Milwaukee, combining an international flair with a deep love of American theater."
Clements replaces current artistic director Joseph Hanreddy, who is leaving The Rep this spring after 17 years with the company.
"The board has identified an extraordinary artist and leader to become The Rep's next artistic director," Hanreddy said. "Mark Clements is a man of remarkable vitality, accomplishment, eloquence and vision. His substance, depth, energy and enthusiasm are palpable. He is also possessed of great generosity of spirit and is a thoroughly pleasant gentleman who promises to be a great asset to the community. I have no question that Mark's leadership will usher in a grand and glorious era of artistic accomplishment for The Rep."
Clements will stay in Philadelphia to direct Oliver! throughout its run and will visit Milwaukee frequently before moving permanently.
John Kordsmeier, president of The Rep's board, said the theater's 2010-11 season will be announced in the spring.
"Mark represents a new era, a new kind of artistic energy and a new way of creative, collaborative thinking that will build nicely on the incredible work Joe Hanreddy has done over nearly two decades with The Rep," Kordsmeier said.
Stocks take break after torrid start to week
The stock market cooled its jets this morning after two days of solid gains. The largest local decliners in the BizTimes Stock Index this morning were Rockwell Automation Inc. (down 78 cents to $41.07) and Koss Corp. (down 38 cents to $11.62). The largest local advancers this morning were A.O. Smith Corp. (up 77 cents to $39.90) and Kohl's Corp. (up 51 cents to $58.00).
State headlines: Norlen to reopen shuttered plant in Wausau
Norlen Inc. plans to reopen a shuttered manufacturing site in Wausau, expanding operations and adding up to 30 jobs by February. The metal-parts manufacturer's empty site on Wausau's west side will house automated painting, assembly and distribution of metal parts as well as manufacturing lines for boats and other fiberglass products. Read more in BizTimes Milwaukee's daily roundup of headlines from newspapers across the state at www.biztimes.com/#news.
BizTimes Real Estate Weekly: New downtown apartment complex is nearly fully leased
Reflecting a strong demand for apartments in downtown Milwaukee, One, the 83-unit apartment building that is the first phase of Mandel Group Inc.'s North End development, is almost completely leased. The development is located along the Milwaukee River in the Park East corridor. About 75 percent of the residents have moved to the building from outside of the city, said Mandel senior vice president Richard Lincoln. Read more in the new edition of the BizTimes Real Estate Weekly bulletin.
Milwaukee Biz Blog: Will Web 3.0 shatter your business plan?
Twitter marks the start of Web 3.0, which is going to make several business plans obsolete, according to consultant Kay Plantes, author of today's Milwaukee Biz Blog.
Congressional Budget Office says health reform bill could reduce federal budget deficit
Health care reform legislation drafted by a key Senate committee would reduce federal deficits by $81 billion over a decade and would lead to "continued reductions in federal budget deficits in the years beyond," the nonpartisan Congressional Budget Office (CBO) told Congress today.
President Barack Obama has said he will not sign a reform bill that adds to the national debt.
The CBO's assurance that the draft proposed for the Senate Finance Committee would meet that stipulation could clear the path for its approval. A committee vote on the bill could come as early as Friday.
The draft would expand coverage to 94 percent of all eligible Americans at a 10-year cost of $829 billion, the CBO said in its preliminary estimate.
Sen. Max Baucus (D-Mont.), the committee chairman and principal architect of the measure, said on the Senate floor, "This legislation, I believe, is a smart investment on our federal balance sheet. It's an even smarter investment for American families, businesses and our economy."
The Senate Finance Committee version of reform does not include a "public option" provision for the government to sell insurance in competition with private industry.
According to The Associated Press, the measure would require that millions of Americans purchase private insurance for the first time, and it would set up a new marketplace where policies would be available.
Federal subsidies would be available to millions of lower-income individuals and families to help defray the cost of coverage that would otherwise be out of their reach, the AP reported.
The legislation would prohibit insurance companies from denying coverage on the basis of pre-existing medical conditions, and restrict insurance companies' abilities to charge vastly higher premiums on the basis of age, gender or other factors.
The measure would be paid for through a variety of tax increases and spending cuts.
Democrats in the House and Senate are expected to consider the Senate Finance version, along with other committees' versions of the bill before the full Congress votes on a bill.



