The Rotary Club of Milwaukee will announce over lunch today that it has exceeded its goal of raising $400,000 to create the Milwaukee Rotary Centennial Arboretum, a 40-acre “living classroom” that will extend from North Avenue to the Locust Street, stretching upward through Riverside Park.
The Arboretum, which Rotarians believe will become Milwaukee’s “Central Park,” will be bounded on the west by the Milwaukee River and the east by the Oak Leaf Trail. Wheelchair accessible trails - 3.5 miles in all - will run through the area, connecting the river trails to the community.
James T. Barry III, president of Colliers Barry and past president of the Rotary Club of Milwaukee, will announce today that the club raised more than $430,000 for the project.
“I am very pleased that Rotary will celebrate its centennial anniversary with a contribution that will dramatically enhance the riverfront and the community - a contribution that is in keeping with our strong history of community giving,” Barry said. “In partnership with the Urban Ecology Center, the River Revitalization Foundation and Milwaukee County Parks we seized this once-in-a-lifetime opportunity to convert old industrial land along the revitalized Milwaukee River into a natural jewel for the city - a living forest classroom that our grandchildren will be able to enjoy and share with their grandchildren many generations to come.”
The Rotary Club of Milwaukee followed a participative process during 2008 to identify projects of expanding worth in Milwaukee that could be suitable for the largest financial commitment members will have been asked to consider. The club’s board selected the Milwaukee Rotary Centennial Arboretum project presented as a collaborative effort with the Urban Ecology Center, the River Revitalization Foundation and Milwaukee County.
The Arboretum will feature multiple entry points with prominent entrance archways recognizing the civic investments by members of the Rotary Club of Milwaukee over the past 100 years. The Arboretum will be dedicated to recreation, research and teaching, as it serves as the first and only arboretum in the Milwaukee metropolitan area.
More than 100,000 visitors are expected annually, and most or all of the area’s 12 colleges and universities are assumed to be part of ongoing research efforts.  Hundreds of trees will be planted, replacing gravel and brush that now consume the property. Long-term maintenance requirements will be the responsibility of the Urban Ecology Center as part of its 99-year lease with Milwaukee County as the property owner.
In addition, the Rotary Club of Milwaukee awarded $100,000 from the RCM Community Trust for reconstruction of the schoolyard at Brown Street Academy.

In an unprecedented move by faith-based institutional shareholders, at least 21 U.S.-based health industry companies are the focus of shareholder resolutions asking them to publicly disclose the total compensation packages of their top executives, including their health care packages, compared with that of their lowest paid U.S. workers.
Among the insurers, medical device makers and other companies receiving the resolutions are many of the leading opponents of Congressional action on health care reform.
The 30 investors filing the resolutions belong to the Interfaith Center on Corporate Responsibility (ICCR), which has an estimated 300 faith-based institutional investor-members with assets in excess of $100 billion.
The 21 companies receiving the shareholder resolutions are: Aetna; AIG; Allstate; Amerisource Bergen; Amgen; Cardinal Health; Cigna; Coventry Health; General Electric; Humana; Lilly (Eli) & Co; Lincoln National; McKesson; Medco Health Solutions; Medtronic; Stryker; The Travelers Corp.; 3M; UnitedHealth Group; UNUM Group; and WellPoint.
ICCR executive director Laura Berry said: "Shareholders, the government, citizens and investors are increasingly concerned about seemingly out of control growth in compensation packages for top executives at U.S. corporations, including those in the health industry. When the causes of skyrocketing health care costs are examined, this growth in health industry compensation is clearly a factor. These packages often reveal an accelerating pay gap between highest and lowest paid employees. Compounding this disparity, many employers have shifted a greater share of the overall health costs onto employees and their families. This makes lower-wage employees bear the burden of increased premiums, higher deductibles and out-of-pocket expenses. This can lead to particularly egregious disparities when it comes to health industry companies that are simultaneously fueling health care expenses, opposing needed health care reform in Congress and covering fewer and fewer Americans."
Capuchin Rev. Michael Crosby, coordinator of the Wisconsin, Iowa, Minnesota/Coalition for Responsible Investment and a member of ICCR's Health Care Working Group, said, “Pay disparity is an important issue because costs in the market-based health industry have been much higher than other industries. Insurance companies and medical systems companies have been highlighted as among the most aggressive in challenging health care reform efforts in the United States. The filers believe health care costs will increase even more if universal health care fails. This will mean even higher costs and even fewer people covered by the health care system. This has led the faith-based shareholders in these companies to seek data whether there already may not be excessive compensation packages (including health care benefits) for the top executives within these companies vis-a-vis their lowest paid workers."
The Wisconsin organizations participating in the effort include: Diocese of Green Bay; Dominican Sisters of Hope; Franciscan Sisters of Perpetual Adoration, LaCrosse; Province of St. Joseph of the Capuchin Order (Midwest Capuchin Franciscans); SSM Finance Inc. of Brown Deer, School Sisters of Notre Dame, Milwaukee Province; School Sisters of St. Francis, U.S. Province, Milwaukee; and Sisters of St. Francis of Green Bay.
Separately, on Nov. 10, 60 ICCR members announced they are asking 36 major companies - including Merck, Wal-Mart, McDonald's, AT&T, IBM and General Electric - to state publicly if the U.S. Chamber of Commerce speaks for them in its “aggressive campaign to kill efforts to overhaul the U.S. health care system.” All of the companies had previously agreed at the urging of shareholders to embrace health care principles that are now inconsistent with the anti-reform stance of the U.S. Chamber on health care legislation, the ICCR said.
The ICCR (http://www.iccr.org) is a coalition of approximately 300 faith-based institutional investors, representing well over $100 billion in invested capital.

The stock market resumed its positive traction this morning, as investors assessed the risks from the Dubai credit crisis and absorbed the news that signed sales contracts on existing homes in the United States rose for the ninth consecutive month in October.
The pending home sales index (PHSI) rose a seasonally adjusted 3.7 percent in October from September, the National Association of Realtors reported today. The index is up 31.8 percent compared with last October.
The index rose 6 percent in September.
Lawrence Yun, NAR chief economist, said home sales are experiencing a pendulum swing.
“Keep in mind that housing had been underperforming over most of the past year. Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually, but we were well below the 5-million mark before the home buyer tax credit stimulus,” he said. “This means the tax credit is helping unleash a pent-up demand from a large pool of financially qualified renters, much more than borrowing sales from the future.”
The PHSI in the Midwest the index rose 11.6 percent to 109.6 and is 36.6 percent higher than October 2008.
Yun cautioned that home sales could dip in the months ahead.
“The expanded tax credit has only been available for the past three weeks, but the time between when buyers start looking at homes until they close on a sale can take anywhere from three to five months. Given the lag time, we could see a temporary decline in closed existing-home sales from December until early spring when we get another surge, but the weak job market remains a major concern and could slow the recovery process,” Yun said. “Still, as inventories continue to decline and balance is gradually restored between buyers and sellers, we should reach self-sustaining housing conditions and firming home prices in most areas around the middle of 2010. That would mean broad wealth stabilization for the vast number of middle-class families.”
The Dow Jones Industrial Average rose more than 100 points early this morning, and local stocks in the BizTimes Stock Index shared in the rally. The largest local gainers this morning were Bucyrus International Inc. (up $1.48 to $53.25) and Manpower Inc. (up $1.05 to $49.94). The largest local decliners this morning were Weyco Group Inc. (down 24 cents to $22.93) and Strattec Security Corp. (down 19 cents to $14.51).

Fiserv Inc., the Brookfield-based global provider of financial services technology solutions, today introduced a new vertical-format Visa card, an innovative design option that displays all card information vertically rather than horizontally.
The breakthrough design captures cardholder interest and provides a new way to showcase an issuer's logo, the company said.
“Fiserv is continually innovating to deliver product and service enhancements that help clients differentiate their card offerings and grow transaction volumes," said Jorge Diaz, division president of Output Solutions, Fiserv. "Our clients are looking for creative ideas that stimulate card activation rates. Vertical cards have visual uniqueness to attract cardholders and encourage increased usage."
The vertical cards are one of several innovations from Fiserv in recent years, including:
The Card Collection, an exclusive offering of 78 card designs that reflect a broad range of lifestyle themes, money motifs and regional images. Pay-as-you-go ordering eliminates inventory carrying expense and risk of obsolescence.
MyCardCreation makes it simple and affordable for cardholders to create cards with their own pictures on them.
Contactless Cards, which can speed up checkout and maximize convenience by enabling a cardholder to simply hold the card near a terminal or tap the terminal instead of swiping the card.
"The key to increasing transaction revenue is giving cardholders the kinds of cards they'll reach to use over and over," Diaz said. “Fiserv continues to add equipment, processes and technology to provide innovative solutions - like the exciting new vertical cards - to please cardholders and help our clients achieve their card program goals."

Johnson Controls-Saft announced today that it has been chosen as the lithium-ion battery supplier for Azure Dynamic's Force Drive integration on the Ford Transit Connect Battery Electric Vehicle (BEV).
The all-electric van will be in production beginning in late 2010.
"Johnson Controls-Saft is committed to the commercialization of hybrid and electric vehicles," said Ray Shemanski, who leads the Johnson Controls-Saft joint venture and is vice president and general manager of Hybrid Systems for Glendale-based Johnson Controls Inc. "We are proud to be chosen for the BEV and we look forward to strengthening our partnership with both Azure and Ford Motor Company to advance these leading-edge technologies. This partnership is underscored by our investment of more than $600 million in manufacturing and infrastructure development."
Commercial transportation in an urban environment accounts for 12 percent of total miles driven, yet is responsible for 25 percent of total greenhouse emissions. The Transit Connect BEV would eliminate gas costs and enable fleet owners to more accurately forecast the cost of doing business. It has a targeted range of 80 miles on all-electric power, and is the first of four electric vehicles Ford plans to build in its global commercial vehicle program.
"We've worked with Johnson Controls-Saft on our Balance Hybrid Electric delivery and shuttle bus project, and are confident that their batteries offer a light, powerful design with a longer life than most current battery technologies," said Curt Huston, Azure Dynamics chief operating officer. "Both Azure and Ford have existing relationships with Johnson Controls-Saft, bringing further synergies to the project."
In addition to its work with Azure, Johnson Controls-Saft is in production with the Mercedes S-Class hybrid, currently on sale in Europe and the United States. Johnson Controls-Saft also will supply the Li-ion hybrid batteries for the BMW 7-Series ActiveHybrid available in 2010 and Ford's first plug-in hybrid electric vehicle available in 2012. The Transit Connect BEV will use the same battery technology that is currently installed in the Ford Escape test fleet of plug-in hybrid electric vehicles, also supplied by Johnson Controls-Saft.

Gov. Jim Doyle today signed into law legislation that will provide full public financing for Wisconsin Supreme Court campaigns.
Senate Bill 40 creates a democracy trust fund that will provide publicly-funded grants for qualifying Supreme Court candidates who voluntarily agree to abide by a spending limit of $400,000.
“We have all seen how interest groups can sway the outcome of Wisconsin Supreme Court Cases,” Doyle said. “This legislation is an important campaign finance reform that will ensure impartiality and public confidence in our state’s highest court.  I have long championed this reform and I am proud to finally sign it into law today.”
Governor Doyle also signed into law Assembly Bill 250, a bill that significantly strengthens the regulation and oversight of dog breeders and dog breeding facilities. This bill requires dog sellers, dog shelters and animal control facilities to be licensed, sets uniform standards for living conditions, and provides new penalties for those who don’t obtain licenses.
“With this bill, we are taking important steps to protect innocent animals from irresponsible breeders and shut down puppy mills in Wisconsin,” Doyle said. “We need to ensure all dogs have access to proper food, water, exercise, and enclosures.  And we need to end Wisconsin’s reputation as a safe haven for puppy mills.”

The State of Wisconsin took ownership today of the Wisconsin Exposition Center at Wisconsin State Fair Park in West Allis.
The purchase from State Fair Park Exposition Center inc., approved earlier in the year by the State Building Commission, will allow the State of Wisconsin to obtain a $38 million asset at a cost of $13.9 million.
The Fair Park Board will operate the exposition business and make annual rental payments that will fund the state’s debt service cost.
Employees of the exposition center will be contracted by the Fair Park during the transition. Once state positions are approved, all employees of the Wisconsin Exposition Center will have the ability to interview for positions that will be publicly posted.
“The purchase of the Wisconsin Exposition Center is a tremendous opportunity for State Fair Park,” said Susan Crane, chairman of the State Fair Park Board. “The discounted purchase price will bring capital costs in line with revenues ensuring a viable ongoing exposition business benefiting the community while also promoting financial stability at the Fair Park.”
Built in 2002, the Wisconsin Exposition Center is the largest exposition center in Wisconsin with more than 200,000 gross square feet of contiguous exposition space.

Hammes Co.’s proposed 164,000-square-foot, $93 million expansion of the Edgewater hotel in Madison was dealt a major blow Monday by that city’s Landmarks Commission. With the commission’s vote, the project would now need the support of a supermajority of Madison’s City Council to be approved. Read more in BizTimes Milwaukee's daily roundup of headlines from newspapers across the state at www.biztimes.com/#news.

Wauwatosa-based Waterstone Bank and Kenosha-based Southport Bank have agreed to consent orders issued jointly by the Wisconsin Department of Financial Institutions (DFI) and the Federal Deposit Insurance Corp. (FDIC). Like many banks, both Waterstone and Southport have significant portions of their loan portfolios in real estate loans. With the collapse of the residential real estate market that began in 2007, both banks have taken significant losses. Read more in this week’s edition of the BizTimes Money bulletin.

Susan Marshall writes about the importance of gratitude and appreciation in today’s Milwaukee Biz Blog.

Madison-based Anchor BanCorp Wisconsin Inc. today announced it has entered into agreements with Badger Anchor Holdings LLC, in which Badger Holdings will make up to a $400 million investment in Anchor.
Badger Holdings is a newly-formed entity organized by Badger Capital, LLC, a private investment group led by investment banking specialist Steven D. Hovde, who has long-time ties to Madison.
"The robust combination of Anchor's strong brand, strategic branch network and leading mortgage origination platform present an attractive investment opportunity for us," said Hovde. "We are pleased to be partnering with this well-established institution in what has historically been a stable Midwestern marketplace, and look forward to working together to build upon Anchor's unique franchise."
Pursuant to the agreements, Badger Holdings will purchase from Anchor up to 483.3 million shares of common stock at 60 cents per share. Badger Holdings also will provide Anchor with a term loan of $110 million, which will be convertible into shares of the company's common stock at a conversion price of the lower of 60 cents per share or the market price at the time of conversion.
In connection with the transaction, the Anchor BanCorp also offer up to 166 million shares of common stock to its shareholders of record on Nov. 23, 2009, at a price of 60 cents per share.
Consummation of the transactions are subject to several conditions, including (1) resolution of Anchor's outstanding loan from U.S. Bank and others in the aggregate principal amount of $116 million; (2) conversion into common stock of the shares of preferred stock and warrants issued to the U.S. Treasury pursuant to the TARP Capital Purchase Program at an acceptable conversion rate; (3) shareholder approval; (4) receipt of all required regulatory approvals; and (5) the absence of certain material adverse developments with respect to the company and its business.
Upon the completion of these transactions, assuming the maximum number of shares are purchased by Badger Holdings, current Anchor shareholders would own less than 5 percent of Anchor's outstanding common shares, and Badger Holdings would own a majority. Badger Holdings will be registered as a savings and loan holding company.\
"Completion of these agreements will provide Anchor with capital in excess of levels required of us by our regulators. It also preserves Anchor as an independent company that can continue our mission of being a viable and healthy community banking organization," said David Omachinski, chairman of the AnchorBank and the company boards.
"We believe that this transaction is our best opportunity to return to profitability and growth," said AnchorBank chief executive officer Chris Bauer. "This new capital will enable us to help our communities recover and prosper."
Anchor BanCorp's stock is traded on the NASDAQ exchange under the symbol ABCW. AnchorBank fsb, the wholly-owned subsidiary, has offices located in Wisconsin.