Milwaukee’s water, business and elected leaders will come together for “Water for Haiti,” Milwaukee’s Benefit for Haiti, which will take place Thursday from 5 to 6:30 p.m. at the Discovery World Pilot House, 500 N. Harbor Drive.
Parking will be free.
The hosts for the event will include Milwaukee Mayor Tom Barrett, State Rep. Pedro Colón, Milwaukee Common Council President Alderman Willie Hines Jr., the Milwaukee 7 Water Council, the Southeastern Wisconsin Watersheds Trust and Discovery World at Pier Wisconsin.
All donations raised will go to the American Red Cross International Disaster Relief Fund. To donate, visit www.redcrossinsewis.org.

Marshall & Ilsley Corp. today reported a fourth quarter net loss of $259.5 million, or 54 cents per share, which capped a fiscal year in which it lost $858.8 million, or $2.46 per share.
The company’s net loss for 2009 was actually an improvement over its 2008 performance, when the firm lost $2.0 billion, or $7.92 per share. The financial results for 2008 a goodwill impairment charge of $1.5 billion after-tax.
"Our aggressive approach to managing credit continued to impact M&I's financial results during the fourth quarter of 2009," said Mark Furlong, president and chief executive officer of the Milwaukee-based parent company of M&I Bank.  "Despite the loss, there are some encouraging signs that credit quality has stabilized and core earnings trends have improved. M&I remains committed to returning the company to profitability as soon as possible."
M&I's average loans and leases totaled $45.3 billion for the fourth quarter of 2009, decreasing $4.9 billion or 10 percent compared with the fourth quarter of 2008. When adjusted for the targeted reduction in the corporation's construction and development portfolio, loans fell $1.2 billion or 3 percent vs. the same period last year.
In a conference call with analysts this morning, M&I executives expressed confidence that the company’s performance is improving.
The company’s nonperforming loans were down for the second consecutive quarter. The $205 million decrease of nonperforming loans in the last quarter was down 9 percent form the previous quarter.
 “We continue to remain aggressive in dealing with tough credit issues,” Furlong said. “As we move into 2010, we intend to leave no struggling asset unaddressed. We are glad to put the last two years behind us.”
Greg Smith, chief financial officer for the company, said, “We are building confidence that a recovery is underway at M&I. our non-performing loans continue to decline.”

U.S. Bancorp today reported fourth quarter net income of $602 million, or 30 cents per share, up from $330 million, or 15 cents per share, in the same period a year ago.
The Minneapolis-based parent company of U.S. Bank said its most recent quarter’s growth was driven by record total net revenue of $4.4 billion, the result of strong year-over-year growth in both net interest income and fee revenue.
The company's results were impacted by two significant items: $278 million of provision for credit losses in excess of net charge-offs and $158 million of net securities losses.
For the full fiscal year, U.S. Bancorp reported 2009 net income of $2.2 billion, down from $2.9 billion in 2008.
U.S. Bancorp chairman, president and chief executive officer Richard Davis said, "U.S. Bancorp's fourth quarter and full year 2009 earnings fully reflected the strength and quality of the Company, as we achieved record total net revenue for both the quarter and the year. The strong growth in net revenue, the result of our expanding balance sheet and fee-based businesses, as well as recent investments in our branch network and various growth initiatives, was the primary driver behind the increase in fourth quarter earnings compared with the same period of 2008.”
Looking forward, Davis said, “Given the company's diversified revenue mix, stable businesses, industry-leading performance, capital generation, and its dedicated employees, I am confident that we will continue to grow and prosper in the coming year, as we continue to serve our customers, support our communities, assist the government in their efforts to stimulate and strengthen the economy, and create long-term value for our shareholders, all of which will serve to further distinguish U.S. Bancorp as one of the strongest leaders in the financial services industry today."

The number of people filing first-time unemployment claims in Wisconsin fell last week to 19,912, which was considerably lower than the 33,551 who filed for first-time claims in the prior week and lower than the 22,448 who filed claims in the same week a year ago.
The total number of Wisconsin residents with unemployment claims dropped last week to 177,788 from 195,530 in the previous week, according to the latest data from the Wisconsin Department of Workforce Development.
Wisconsin’s most recent seasonally adjusted unemployment rate now stands at 7.8 percent, compared with the national rate of 10.0 percent. The Wisconsin rate will be updated to reflect December’s totals on Thursday.
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Although the U.S. Supreme Court ruled Tuesday against a request to close off two navigational locks in Chicago to prevent Asian carp from reaching Lake Michigan, Wisconsin Gov. Jim Doyle and Attorney General J.B. Van Hollen are vowing to continue the fight to protect the Great Lakes from the invasive species.
Doyle and Michigan Gov. Jennifer Granholm called for an immediate summit between Great Lakes governors and senior White House officials to address the threat of Asian carp and other invasive species to the Great Lakes ecosystem and regional economy.
“We must act quickly to protect the Great Lakes, our region’s greatest natural resource, against the devastating threat of Asian carp. The Great Lakes are vital to our region’s future and the Army Corps of Engineers must immediately implement emergency measures to protect the Great Lakes against Asian carp,” Doyle said. “The Great Lakes grow industries and draw businesses to this region. They are essential to transportation and shipping, they drive recreation and tourism and they sustain cities. We look forward to working with the White House to protect this fragile ecosystem against Asian carp and other harmful invasive species.”
Van Hollen issued the following statement today: “With the authorization of the State Assembly, I moved expeditiously in the United States Supreme Court to join the State of Michigan's request for emergency relief aimed at preventing the invasion of Asian carp species into Lake Michigan. That motion was denied. The order denying the motion for a preliminary injunction does not end this case. The underlying petition remains pending, and I will continue to pursue legal remedies to stop Asian carp species from entering Lake Michigan and protect Wisconsin's interests. I continue to be concerned about the economic and environmental threat these fish pose to the Great Lakes and to Wisconsin specifically. The threat is real. Just yesterday, the Army Corps of Engineers announced two positive eDNA results for silver carp, both lakeside of the O'Brien Lock. I am pleased by Gov. Doyle's announcement demanding a meeting with the Obama Administration to address this issue. Perhaps he can convince the president of the gravity and urgency of the threat Asian carp pose to the Great Lakes.”

The Milwaukee Brewers today announced plans to celebrate the club’s 40th anniversary season in 2010, which include numerous special events and promotions both on and off the field.
The Brewers will host four “Retro Weekends” during the 2010 season, designating one decade to each weekend to highlight that specific era in Brewers history.
Each weekend will feature the return of alumni from those decades, and on the first three Fridays, the current Brewers will don retro Brewers uniforms from the celebrated era. On each Sunday of the Retro Weekend, all fans will receive a Bobblehead representing one of the greatest moments in the club’s history. To supplement the special uniforms and all-fan giveaways, the in-game experience during those Retro Weekends will include trivia, music and costume contests reflective of the particular decade.
A special 40th Anniversary logo is also being introduced today and will be featured on a patch to be worn on the Brewers home, road, and alternate uniforms throughout the 2010 season. Special apparel will also include the logo and will be available for the first time at Brewers On Deck (Jan. 31) and the Brewers Team Store by Majestic.
In addition, throughout the season, Brewers fans will have the opportunity to vote on the 40 greatest moments of Milwaukee Brewers baseball with the “40 Years/40 Moments” promotion.

The Oshkosh Plan Commission on Tuesday unanimously approved the creation of a tax incremental financing, or TIF, district that would help Oshkosh Corp. finance construction of a 150,000-square-foot paint shop. The company included city and state financial support in its bid in early 2009 for a $3.5 billion, five-year contract to build Family of Medium Tactical Vehicles for the U.S. Army. Oshkosh won the contract in August, but the Government Accountability Office later upheld a competitor's protest. The contract continues to be re-evaluated by the Army. Read more in BizTimes Milwaukee's headlines from around the state at http://www.biztimes.com/#news.

The stock market dipped sharply today, as investors reacted to some disappointing data about the U.S. housing market.
Housing starts fell 4 percent to a seasonally adjusted annual rate of 557,000 in December, the U.S. Commerce Department estimated today.
For all of 2009, an estimated 554,000 homes were started, down 39 percent from the 2008 total and the lowest on record since the end of World War II.
The Dow Jones Industrial Average fell by more than 200 points this morning, a day after Massachusetts voters elected Republican Scott Brown over Democrat Martha Coakley for the U.S. Senate, possibly spelling the end of President Barack Obama’s efforts to reform the American health care system.
The largest local decliners this morning were Joy Global Inc. (down $2.40 to $57.53) and Bucyrus International Inc. (down $2.22 to $53.65). The largest local advancers this morning were Johnson Outdoors Inc. (up 38 cents to $10.75) and MGIC Investment Corp. (up 19 cents to $6.68).

The top of executives of several of southeastern Wisconsin’s largest employers are supporting Gov. Jim Doyle’s plan to create a regional transportation authority to fund mass transit needs. The company leaders say a functioning mass transit system, including a Kenosha-Racine-Milwaukee commuter train, is essential to the region’s economic health. However, with Wisconsin’s 2010 gubernatorial race bearing down, the regional mass transit plan may be on the political clock. Read more in today’s Milwaukee Biz Blog by BizTimes Milwaukee managing editor Andrew Weiland.