Tuesday, December 15, 2009
Manufacturer recalls H1N1 flu vaccine
Health officials are recalling 800,000 doses of H1N1 flu vaccine for children after tests indicated they may not be potent enough to protect against the virus, according to a report today by The Associated Press.
The Centers for Disease Control and Prevention notified doctors about the recall of the doses manufactured by Sanofi Pasteur today. The doses are pre-filled syringes intended for young children, ages six months to almost three years.
Health officials had recommended children receive two doses, spaced about a month apart.
Health officials say it's not clear how many doses have already been given, but they do not think children need to be re-vaccinated, the AP reported. The lots passed potency tests when they were first shipped, but tests indicate the potency waned thereafter.
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Bank’s survey indicates optimism for 2010
Bruised by the Great Recession of 2009, businesses in Milwaukee and Waukesha counties nonetheless are optimistic about their prospects in 2010, according to a new report released today by First Business Bank.
The report indicated 65 percent of 566 businesses in the two counties expect to do better in 2010. Only 46 percent of businesses had expected better company performances for 2009.
This is the second year First Business has been conducted the economic survey of Milwaukee and Waukesha Counties.
“The survey indicates that there are some real challenges ahead,” said Dave Vetta, president and chief executive officer of First Business Bank-Milwaukee. “However, there is also real optimism which will serve our business community well.”
The First Business Economic Survey of Milwaukee and Waukesha Counties was sponsored by First Business Bank and Carroll University and was conducted by the A.C. Nielsen Center for Marketing Research at the University of Wisconsin-Madison School of Business
Nearly 50 percent of the businesses in Milwaukee and Waukesha counties expect to see an increase in sales and profitability in 2010.
“There is a certain level of confidence that the economy will turn around,” said Greg Kuhlemeyer, associate professor of business at Carroll University. “Firms have been able to weather a difficult year and are poised for a recovery.”
The survey also asked the businesses to assess how they fared in 2009 with in seven economic categories: sales revenue; profitability; total operating costs as a percentage of revenue; capital expenditures; number of employees; overall wage changes; changes in pricing; and operating capacity.
The results of the survey showed that all business sectors reported declines in all seven economic segments.
“There were definitely a lot of adjustments in the business community in 2009,” Kuhlemeyer said. “We saw some significant change, which in hindsight were not necessarily surprising or unexpected and are a reflection of the effects of the recession.”
Full survey results are available at www.firstbusiness.com/center/survey.
Manufacturers hopeful for recovery in 2010
A new ASQ (American Society for Quality) survey shows a majority of manufacturers are optimistic about a small economic uptick in 2010 at their organizations.
However, respondents believe further cost-cutting measures will continue to be implemented. The results show a majority of respondents (64.7 percent) in the manufacturing sector predict their organizations will experience some financial recovery in 2010. More than 1,000 manufacturing professionals around the world responded to the online survey in early December.
Other events that respondents predict their organizations will experience in 2010:
- 61.3 percent believe their organization will create processes to reduce costs.
- 44.8 percent expect a pay freeze.
- 41.4 percent predict a hiring freeze at their organizations.
- 35.2 percent will have mandatory budget cuts.
- 27.8 percent expect staff layoffs.
- 24.7 percent anticipate reduced employee benefits.
Respondents were also asked what one tip they would give to manufacturers to ensure revenue growth in 2010. The top four tips from respondents were:
- Continue to take part in continuous improvement practices and increase use of quality processes.
- Increase customer satisfaction.
- Implement more lean processes.
- Reduce costs.
"Since the manufacturing sector greatly impacts the economic climate, this survey may serve as a good predictor of the overall 2010 financial outlook," said Peter Andres, president of Milwaukee-based ASQ. "This information will also help ASQ keep a good pulse on the right tools and resources to better serve the needs of our members and customers in the new year."
BizTimes Money: Economist says U.S. economy is on ‘assisted living’
Although the U.S. economy posted growth for the third quarter of 2009 and is likely to show growth for the fourth quarter, the country’s economy is currently on “assisted living” because of the large amounts of cash the Federal Reserve Bank and U.S. Treasury are pumping into it, according to Eugenio Aleman, vice president and senior economist with Wells Fargo Economics. Aleman was the keynote at a recent meeting of the Milwaukee chapter of the Association for Corporate Growth (ACG). Read more about his predictions for 2010 in this week’s latest edition of the BizTimes Money bulletin.
Generac launches new line of industrial generators
Waukesha-based Generac Power Systems Inc. today unveiled Generac Industrial Power, a newly redesigned and re-engineered industrial product line of generators.
Product improvements include new engines, new enclosures, several ergonomic enhancements and aesthetic changes.
"The business of selling and supporting industrial generators is extremely demanding, requiring reliable and flexible solutions that are acceptable for our clients," said Noreen Brooker, senior channel manager at Generac. "The new Generac Industrial Power line of standby generators is a strong reflection of Generac's commitment to providing its customers with the most superior and reliable products that they demand."
At the heart of the new Generac Industrial generators are new industrial-certified, Generac-approved diesel engines from Fiat Powertrain Technologies (FPT) and Volvo powering the 60 to 400 kilowatt (kW) power range.
Other improvements include new enclosures that provide better sound attenuation, offer a rugged exterior coating with RhinoCoat and feature a gasket-free, interconnected roof joint panel that requires no additional caulking.
To enhance the branding of Generac Industrial Power products and make them easily identifiable in the marketplace, a dark gray has been designated as the new standard enclosure paint color and a new 'Generac Industrial Power' logo has been developed.
Delafield health venture raises $4 million in financing
Delafield-based My Health Direct Inc. today announced it has received $4 million in venture capital financing led by Chrysalis Ventures.
The company also announced that David A. Jones Jr., Chrysalis Ventures chairman and managing director, has joined the firm’s board.
My Health Direct is a provider of web-based access management solutions to health care providers and payers. The company’s platform enables users to search for, compare features of, and schedule appointments with health care providers broadly throughout an entire community or network. As a result, patients receive proper care quickly, while customers using My Health Direct cut costs by directing patients to the most appropriate healthcare professional.
“Since we founded the company in 2006, our Software-as-a-Service platform has helped hospitals significantly reduce overcrowding in their emergency rooms in a cost-effective manner,” said Jay Mason, founder and chief executive officer of My Health Direct. “With this new capital, we’re hiring sales and support professionals, and are focused on accelerating our expansion, both geographically and beyond the emergency room. We’re getting significant traction with health plans, state health agencies, managed care organizations and community health coalitions, who are interested in an easy-to-use tool that connects patients to the appropriate healthcare professional in a way that saves time and money.”
Founded in 1993, Chrysalis Ventures manages one of Mid-America’s largest funds for early-stage and growth investments with approximately $400 million under management. Focused on partnering with entrepreneurs to build enduring businesses in industries undergoing significant transformation, Louisville, Ky.-based Chrysalis has invested in over 60 companies.
Sensient expands in Costa Rica and China
Sensient Technologies Corp. has opened a new state-of-the-art facility in Alajuela, Costa Rica, and two additional plants in China.
The Milwaukee-based company said its new flavors center in Costa Rica will serve as the base of its Central American and Caribbean operations. The facility includes laboratories for beverage and dairy applications and savory flavors staffed by product application teams, and a quality control laboratory. The site will also develop products for local markets by blending flavors to fit local tastes.
Sensient’s new China facilities are located in Guangzhou and Shanghai. The new 62,000-square-foot Guangzhou location includes a four-story office and laboratory building, a manufacturing plant and a separate fragrance building. The facilities were built to Sensient's specifications when the company outgrew its original facility and relocated.
The facilities will produce colors, flavors, pharmaceutical coatings and fragrances, primarily for the Chinese market.
Kenneth Manning, chairman and chief executive officer of Sensient, said, "These new facilities highlight China's increasing role in Sensient's continued strategic growth. China's emerging middle-class constitutes an important new market for our products, one that has already begun to contribute to Sensient's growth and will gain in importance going forward."
Schmidt is new CFO at Potawatomi Bingo Casino
Potawatomi Bingo Casino has named Kurt Schmidt as chief financial officer.
As CFO, Schmidt will oversee all financial activities on the Milwaukee casino’s property, ensuring that all applicable laws, rules, regulations, controls and policies are enforced. He will also monitor operating results, profitability and performance of the casino.
“We are pleased to have Kurt join our leadership team.” said Potawatomi Bingo Casino general manager Mike Goodrich. “We look forward to utilizing his diversified skill set to support the long-term business plans of the Casino.”
Schmidt, a certified public accountant with a master’s degree from the University of Wisconsin-Milwaukee, has more than 30 years of experience in a variety of financial oversight roles, including his recent position as CFO with the Navajo Nation Gaming Enterprise, where he helped to build and manage six new casino properties.
His tenure in areas related to finance also has included positions at Tohono O’odham Gaming Enterprises, where he helped oversee three casinos, a hotel and convenience store; Ho-Chunk Casino in the Wisconsin Dells; and Dental Associates.
Demand grows for phosphate-free dishwasher detergents
Pacific Sands Inc., a Racine-based manufacturer of a broad range of environmentally-friendly cleaning products, announced today that the company is experiencing a marked increase in private-label inquiries and sales of phosphate-free automatic dishwasher detergent.
The company said the increase in business appears to be fueled in part by Wisconsin recently passing a ban on phosphates for all dishwasher detergents sold in the state. A growing consumer demand for eco-friendly cleaning products also accounts for a recent spike in demand, the company said.
"There are dozens of phosphate-based, privately-labeled dishwasher detergent brands on the market today that will be barred from sale in many states in the coming months," said Pacific Sands president Michael Wynhoff. "These companies are scrambling to find alternatives right now and we have them available."
"We are paving the way with new technologies that are giving us a head start over competing manufacturers. In many cases we're using new, plant-derived raw materials, and enzymes that are unique to the market," said Pacific Sands research chemist Marion (Mack) Myers. "We're not taking shortcuts like many manufacturers who are simply adding chlorine to their formulations."
Currently, the company's chemists are providing formulation and sampling for numerous potential private-label of both phosphate-free powder and gel formula for several million pounds of potential private-label orders.
The company's house-branded "OXY-Dish," is available for purchase at www.ecoGeeks.com.
Stritch names Bergemann as interim president
The Cardinal Stritch University board of trustees has chosen Kent Bergemann to be the interim president of the school, following the resignation of president Helen Sobehart.
Sobehart will be leaving her post as president on Dec. 31. She announced her decision Dec. 7, citing family and health concerns. Bergemann will assume his role as interim president on Jan. 1, 2010.
Bergemann is a retired executive with a 30-year career at Wells Fargo. He has been a trustee at Stritch for four years and has served on the academic and student affairs committee, the committee on trustees, the compensation committee and executive committee.
Bergemann will serve as interim president until a new president is selected. The school’s search process will begin immediately with the formation of a presidential search committee. Provost Dan Blankenship will continue to handle the academic affairs of the university and Tom VanHimbergen will continue as the executive vice president and chief financial officer.
“I am pleased to announce that Kent has been selected interim president,” said board of trustees chairman David Hawke. “His extensive leadership experience, financial acumen and deep personal faith are but a few of the reasons that give me every confidence that he will work very effectively with our entire leadership team as we continue our mission to transform lives through value centered education.”
“I am honored to be associated with the Stritch community and to now participate more closely with our talented and dedicated faculty and administrative team,” Bergemann said. “I am fully committed to the mission of this university to make a real difference in the lives of our students.”
Bergemann retired at the end of 2007 as district president of Wells Fargo’s southeastern Wisconsin retail and business banking operations. Upon his retirement, Wells Fargo regional president Lanny Little said, “Kent has been an outstanding leader and a valuable member of our team. He has modeled the client-centered and needs-based approach that we want to be known for. His team and his peers know him to be an intelligent, caring and highly effective coach.”
Quiet day on Wall Street
The stock market was flat today, as investors weighed the impact of President Barack Obama’s insistence Monday that America’s largest banks resume making more loans available to consumers and businesses.
The largest local advancers in the BizTimes Stock Index this morning were Joy Global Inc. (up $2.00 to $56.18) and Bucyrus International Inc. (up $1.51 to $54.19). The largest local decliners this morning were Kohl’s Corp. (down $1.23 to $54.79) and Rockwell Automation Inc. (down 67 cents to $47.39).
State headlines: Despite GAO decision, Oshkosh optimistic about contract
Oshkosh Corp. officials remain optimistic the company will retain a nearly $3 billion contract to produce medium-size tactical vehicles for the U.S. Army despite the Government Accountability Office's order for the Army to re-evaluate a part of Oshkosh's bid. Oshkosh's competitors for the contract - Navistar and BAE Systems - filed multiple protests to the $3 billion FMTV contract almost as soon as Oshkosh was awarded it in late August. Read more in BizTimes Milwaukee’s headlines from around the state at http://www.biztimes.com/#news.
Milwaukee Biz Blog: County capital projects create jobs
The accelerated building program included in the 2010 county budget does a great deal to help jumpstart the local economy with a $208.4 million investment in capital projects, according to Milwaukee County Executive Scott Walker, author of today’s Milwaukee Biz Blog.



