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BizTimes Daily

Friday, January 15, 2010

Text donations raise funds for earthquake victims in Haiti

In the first 36 hours after the earthquake struck Haiti this week, donations for relief made via text messages on mobile phones surpassed $7 million, setting a new record.
The text codes are being managed by the Mobile Giving Foundation, a nonprofit organization dedicated to helping other nonprofits raise funds through mobile phones.
The $7 million represents a mobile-giving record for funds raised for a single cause, dwarfing the $400,000 total collected in August 2005 in the aftermath of Hurricane Katrina and $200,000 collected in December 2004 for tsunami relief efforts.
The American Red Cross has estimated the earthquake killed 45,000 to 55,000 people in Haiti, while millions more have been injured or left homeless without food or water in the most impoverished nation in the Western Hemisphere.
By texting a keyword to a designated short code via a mobile phone, a micro-donation of $5 or $10 can be made to aid the Haitians affected by the tragedy. The donation appears as a charge on the donor's carrier bill.
Donation codes include: text the word "Haiti" to 90999 to donate $10 on behalf of the American Red Cross; text the word "Yele" to 501501 to donate $5 on behalf of the Yele Foundation; text the word "Haiti" to 20222 to donate $10 on behalf of the Clinton Foundation Haiti Relief Fund; text the word "Haiti" to 85944 to donate $10 on behalf of the International Medical Corp.; and text the word "Haiti" to 25383 to donate $5 on behalf of the International Rescue Committee.
Verizon Wireless said its customers alone have pledged more than $1 million by texting to the Red Cross number.
Donations also can be made directly to the Red Cross International Response Fund at www.redcross.org or by calling 1-800-733-2767.
Kohl's Corp. today announced a $250,000 donation to the American Red Cross to help the earthquake victims.
"As a family-focused department store, our hearts go out to the tens of thousands of families impacted by the catastrophic damage caused by this week's earthquake," said Julie Gardner, Kohl's executive vice president and chief marketing officer. "The loss is great, the need is immense, and Kohl's is proud to be in a position to help during this tragedy."
The Salvation Army in Milwaukee is accepting monetary donations to assist in the effort via visit www.SAmilwaukee.org.
North Shore Bank today announced it is collecting financial donations on behalf of the Salvation Army's Haiti Earthquake Relief Fund. Contributions can be made at any North Shore Bank office.
"We wanted to do something to help our customers and neighbors make a positive difference during this difficult time for the people in Haiti," said Steve Steiner, senior vice president for North Shore Bank. "The donations will certainly help those hit hardest by the recent earthquake, and we encourage people to give what they can to help the Salvation Army assist those who have been affected."
Outpost Natural Foods Cooperative is sponsoring a drive to raise money for those devastated by the earthquake. Outpost Natural Foods will match the first $1,000 donated now through Sunday, Jan. 31.
Good Harvest market also will match any donations made at their locations in Waukesha or Milwaukee’s Historic Third Ward. Money raised will go to "Hope For Haiti", which touches over 500,000 Haitians each year with education on nutrition and health care. The organization is supplying doctors, nurses, medical supplies and equipment to the affected areas, but needs funds to help pay for these efforts. For more information, visit http://www.hopeforhaiti.com.
Adm. Mike Mullen, the chairman of the U.S. Joint Chiefs of Staff, said he expects 9,000 to 10,000 American troops will be in Haiti and off its shore by Monday to help distribute aid and prevent potential rioting.
President Barack Obama is expected to announce today that former Presidents George W. Bush and Bill Clinton are joining forces to lead fundraising for relief in Haiti.

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Briggs to reimburse employees for salary cuts during 2009

Briggs & Stratton Corp. announced today it will reimburse salaried employees for 75 percent of wages lost during a temporary wage reduction from July 1 through Dec. 31, 2009.
The company implemented a 10-percent pay reduction for all of its domestic salaried employees in mid-2009 and also suspended its 401(k) contributions during that time.
"We had some difficult decisions to make during the recession and our employees really pulled together as a team to help the company," said Todd Teske, president and chief executive officer. "While there is still a lot of uncertainty with the economy, we are in a position to pay back our employees for a portion of their lost salaries."
On Jan. 1, 2010, the company also restored its employees' salaries as well as the company's 401(k) matching contributions.
"We will see how the upcoming spring selling season goes before we make a decision as to whether or not we can repay the remaining 25 percent," Teske said. "We will try very hard to make that happen."
The company said key executives will only become eligible for reimbursement after all salaried employees are reimbursed 100 percent.
Teske began his newly appointed position as president and CEO on Jan. 1, 2010.
"During this fiscal year, we have had to make some difficult decisions. I really appreciated the way our employees pulled together to not only help us through these difficult times, but also make us a stronger enterprise for the long-term. It is remarkable what people can do when they band together. I am grateful for their hard work and pleased that we can repay them now for at least some of the salary decreases from the last six months," he said.

National City names Baka to lead corporate banking in Wisconsin

National City, now a part of Pittsburgh-based PNC Financial Services Group Inc., today announced the appointment of A. James Baka as senior vice president for corporate banking in Wisconsin.
Baka leads the Wisconsin corporate banking team in offering clients expertise in business financing, personal wealth management, global treasury services, capital markets, institutional asset management and international services.
Baka has 39 years of banking, financial services and corporate leadership experience, with more than 25 years in southeasten Wisconsin. His experience includes serving as senior vice president and managing director for middle market commercial, international and investment banking at Bank of America in Wisconsin and previously as senior vice president and chief financial officer for Ariens Company in Brillion. Most recently, he was the senior vice president of finance, strategic planning and corporate development at Alto Shaam in Menomonee Falls.
"Our customers will benefit from Jim’s wealth of experience in banking and his prior corporate leadership in some of Wisconsin’s top companies,” said Beth Wnuk, president of Wisconsin banking for National City. “We are committed to providing our clients with a deep understanding of their needs and offering the best credit and financial solutions.”
PNC is the fifth-largest bank in the nation.

Stocks run out of steam

The stock market lost some momentum today, as investors reacted to a consumer confidence index that was not as positive as economists had expected.
The preliminary Reuters/University of Michigan consumer sentiment index rose to 72.8 from 72.5 in late December.
The largest local decliners in the BizTimes Stock Index this morning were Bucyrus International Inc. (down $1.56 to $64.04) and Joy Global Inc. (down $1.31 to $58.64). The largest local advancers this morning were Kohl's Corp. (up 26 cents to $51.88) and Ladish Co. (up 17 cents to $16.20).

Executives' salaries at large banks continue to soar

Major U.S. banks and securities firms are on pace to pay their executivs about $145 billion for 2009, a record sum that indicates how compensation is climbing despite public outcrites over Wall Street's pay culture, according to a new study by The Wall Street Journal.
An analysis by The Journal shows that executives, traders, investment bankers, money managers and others at 38 top financial companies can expect to earn nearly 18 percent more than they did last year - and slightly more than in the record year of 2007.
The conclusions are based on an examination of securities filings for the first nine months of 2009 and revenue estimates through year-end.
President Barack Obama is seeking to impose a tax on the largest banks to recover the taxpayer dollars that were given to the banks through the Troubled Asset Relief Program (TARP) that was approved by former President George W. Bush.

State headlines: Oconto yacht company recalls 100 workers

KCS International, the parent company of Oconto-based Cruisers Yachts and Rampage Sport Fishing Yachts, has hired back 100 employees to work on orders for both boat lines as well as production of a prototype 2011 yacht. Cruisers is one of the key employers in Oconto County. Read more in BizTimes Milwaukee's headlines from around the state at http://www.biztimes.com/#news.

Weekend preview

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.

BizTimes Nonprofit Weekly: Milwaukee school plans $12 million addition

St. Marcus Lutheran School in Milwaukee's Brewers Hill neighborhood plans to construct a $12 million expansion on its campus located at 2215 N. Palmer St. in Milwaukee. To read more of the latest news about southeastern Wisconsin's charities and philanthropy, visit the latest edition of the BizTimes Nonprofit Weekly bulletin.

Milwaukee Biz Blog: Beware of Feds with gifts

History professor Jim Burkee warns that Wisconsin should proceed with caution before accepting federal education funding. Read more in today's Milwaukee Biz Blog.

Greenberg is new president of Aurora Health Care Foundation

Aurora Health Care has appointed Bev Greenberg president of the Aurora Health Care Foundation.
In this new position, Greenberg will lead philanthropy and social responsibility for Aurora and will report to the foundation's board of directors.
Greenberg comes to Aurora after 30 years of experience in corporate social responsibility, team-building, strategic planning, development and marketing.
She most recently served as vice president of public affairs and regional local programming for Time Warner Cable in Milwaukee. During her 19-year tenure there, she was responsible for all internal and external communications, charitable contributions and community/government relations.
Prior to her career with Time Warner, she was vice president of development and marketing for the Zoological Society of Milwaukee County, leading both capital and annual development campaigns.
"Bev brings demonstrated leadership in philanthropy and a unique community perspective based on many years of leading successful and significant fund raising and community awareness campaigns," said Nick Turkal, Aurora's president and chief executive officer. "I valued her vision and leadership when she served as our board chair.  I look forward to her energizing and leading our philanthropic, community outreach and social responsibility efforts in her new position."
"I strongly believe in Aurora's mission to provide extraordinary health care to its patients," Greenberg said. "I recognize and appreciate the passionate Aurora caregivers whose service is critical to the health and well being of communities throughout the state.  Health care is a primary concern to all of us, and Aurora's unique model of integrated care works to deliver value to patients and communities. I feel privileged to join Aurora's dedicated team of professionals."

Haitian death toll rises; Barrett declares Monday to be "Haiti Relief Day' in Milwaukee

As the esimtate of the death toll from the earthquake in Haiti continues to grow, Mayor Tom Barrett announced today that Sunday, Jan. 17, will be Haiti Relief Day in Milwaukee.
Reuters is reporting this afternoon that the Haitian government now estimates that more than 40,000 people have been buried and another 100,000 people are believed to be dead.
Barrett is encouraging all of Milwaukee's residents to make financial donations to charities that are directly assisting in the humanitarian aid efforts following this week's earthquake in Haiti.
"This week's disaster has brought with it hardship and suffering for the people of Haiti," Barrett said. "I urge the people of Milwaukee, the region and the state to contribute whatever they can afford to assist in getting supplies such as food, water and medicine to the people of Haiti."
Barrett said the most important donation that residents can make is financial, which allows charities to purchase the necessary supplies needed for the relief effort. Two organizations that the city is partnering with are the American Red Cross and World Mission Ministries.
"With the Martin Luther King Holiday on Monday, it especially underscores the need for us to work together to help our fellow men and women who are most in need. I would like to thank everyone who has contributed so far to the relief effort, and I again encourage those who have not donated to please give whatever they can," Barrett said.
To donate:
American Red Cross - http://www.redcrossinsewis.org or call 1-800-236-8680
World Mission Ministries - http://www.archmil.org/offices/world-mission/haiti.htm.

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