Employers and human resource managers interested in starting or improving an employee wellness program are invited to attend the first-ever BizTimes Media Wellness Summit on Thursday, Feb. 25. The program will feature a strong lineup of employee wellness experts, as well as employers who will share their insights about how they have implemented wellness programs. The Wellness Summit is designed for company owners, human resource managers and other executives interested in forming workplace wellness programs. For additional information, visit www.biztimes.com/wellness.

Toyota Motor Corp. shares fell more than 7 percent to $72.63 today on reports that U.S. Transportation Secretary Ray LaHood is advising owners not to drive any of the millions of Toyota vehicles involved in recent recalls until they can be repaired.
LaHood's warning came this morning in testimony before a House Appropriations subcommittee on transportation. LaHood said his advice to owners is to "stop driving it. Take it to a Toyota dealer because they believe they have a fix for it."
Toyota is sending out a fix to the sticky acceleration problem to dealers, but the company’s reputation for reliability and quality has been damaged.
LaHood told reporters earlier in the day that Toyota owners should contact their dealer immediately and "exercise caution until repairs can be made.”
Toyota’s stock has been reeling since the recalls were first announced.
The stock market dipped slightly today after beginning the week with strong sessions on Monday and Tuesday.
Local stocks in the BizTimes Stock Index also cooled off today. The largest local decliners this morning were Manpower Inc. (down $1.09 to $54.11) and Rockwell Automation Inc. (down 60 cents to $49.05). The largets local advancers this morning were Johnson Controls Inc. (up 27 cents to $29.71) and Twin Disc Inc. (up 14 cents to $9.82).

Milwaukee Magazine will move its offices from its longtime location at 417 E. Chicago St., in Milwaukee’s Historic Third Ward to the Warehouse No. 1 building at 126 N. Jefferson St., also located in the Third Ward, according to sources.
Milwaukee Magazine will move into a 6,239-square-foot office space on the first floor of the Warehouse No. 1 building. The space was formerly occupied by Capital H Group, which was acquired last year by Findlay, Ohio-based The RightThing.
The Warehouse No. 1 building also is the location of the BizTimes Milwaukee offices. The 74,640-square-foot building is 105 years old.
The one-story, 42,141-square-foot building at 417 E. Chicago St., where Milwaukee Magazine’s offices are currently located, is owned by the Kathleen D’Acquisto Irrevocable Trust, according to city records.

Serigraph Inc, a West Bend-based specialty printer, has secured more than $7 million from the U.S. Department of Agriculture’s Business & Industry Loan Guarantee program to help finance an expansion.
The company said the USDA federal stimulus money will support its business growth strategy for 2010 and help minimize financial risk. As a result of the financing, the company was able to retain 462 employees and intends to hire up to 50 to accommodate new projects.
Ridgestone Bank assisted Serigraph in obtaining the financing. M&I Bank provided a revolving line of credit to Serigraph.
"We were pleased to be able to work with Serigraph to support their efforts to adjust to the current economic conditions and prepare to continue on the road to recovery," said Bruce Lammers, chief executive officer of Ridgestone Bank.

The Milwaukee Community and Economic Development Committee has approved a resolution to create a task force to assess the perceptions and image of greater Milwaukee and help to identify funding for ongoing branding in the future.
Milwaukee Alderman Terry Witkowski, primary sponsor of the resolution, says the task force will help establish an entity that is responsible for creating and maintaining Milwaukee’s image.
“Although a brand identity is important for tourism and conventions, in this global economy, a first-class city like ours needs a stable and recognizable identity for doing business,” Witkowski said.
For years, reports have shown that nationally people have mis-indentified that Milwaukee is in Minnesota or identified Milwaukee as Minneapolis, Witkowski said. In the most recent study, many people failed to respond on questions about their perception of Milwaukee, presumably because they have no perception of or knowledge of Milwaukee, Witkowski said.
“We cannot lure new businesses to the area if no one knows we exist,” Witkowski said. “If the Water Council, M-7 and Milwaukee Gateway Aerotropolis Corp. and others working to bring businesses and jobs to Milwaukee are to succeed, we need to be better known and identifiable.”
The resolution calls for the group to indentify the agency that will be responsible for advancing Milwaukee’s brand. Currently, many groups work on promoting greater Milwaukee, but no one has the sole responsibility for it or for improvement of its image.
The task force is slated to deliver its recommendations to the Milwaukee Common Council within the next year and consists of 24 designated members, including the mayor, the Common Council president, representatives from General Mitchell International Airport, the Greater Milwaukee Committee, the Milwaukee 7, VISIT Milwaukee and others.

PNC Financial Services Group Inc. has reached an agreement with U.S. banking regulators and the U.S. Treasury to repay the roughly $7.6 billion the bank holding company received under the Troubled Asset Relief Program (TARP), part of the Capital Purchase Program.
The bank also is planning to offer roughly $3 billion in common stock to investors.
PNC Financial Services Group is the parent company of Cleveland-based National City Bank, which it acquired in December, 2008. National City operates branches in the Milwaukee market.
PNC’s fourth quarter 2009 net income was $1.1 billion, or $2.17 per diluted common share, compared with net income of $559 million, or $1.00 per diluted common share, for the third quarter of 2009.
"During the most challenging economic environment of our time, the execution of the PNC business model resulted in exceptional 2009 performance," said James Rohr, chairman and chief executive officer of Pittsburgh-based PNC. "Our businesses performed well and customer growth and sales of products and services across the franchise were strong, giving us considerable momentum starting into 2010. We continue to focus on risk management and made significant progress in transitioning to a stronger balance sheet with strengthened loan loss reserves, liquidity and capital."
Earlier this week, PNC announced plans to sell PNC Global Investment Servicing, a provider of fund processing products and services, to BNY Mellon for about $2.3 billion. The transaction is expected to close in the third quarter of this year.
 “With signs of an improving economic environment and stabilizing financial system, we believe now is the appropriate time for us to redeem the preferred shares held by the U.S. Treasury,” Rohr said. “As a result, we are pleased to have reached an agreement with our regulators to return the taxpayers’ investment in PNC. These strategic actions are expected to improve the quality of our capital and position us for further growth. Collectively, we believe these actions are in the best interests of our shareholders, customers and employees.”

Brookfield-based Fiserv Inc. reported fourth quarter net income of $118 million, or 76 cents per share, up from $62 million, or 39 cents per share, in the same period a year ago.
The company’s quarterly total revenues grew to $1.06 billion from $1.04 billion a year earlier.
For the full year, Fiserv’s total adjusted revenue for the year decreased 1 percent to $3.87 billion from $3.89 billion in 2008.
"We finished the year with a strong fourth quarter highlighted by positive revenue growth, record December sales and superior free cash flow providing momentum as we enter the new year," said Jeffery Yabuki, president and chief executive officer of Fiserv. "In a challenging 2009, we delivered on our financial goals and enhanced our strategic position. These results reflect our industry-leading commitment to clients and the value of our integrated product offerings." 
Fiserv expects 2010 adjusted internal revenue growth to be in a range of 1 to 3 percent. "The strong finish to 2009 is another proof point that our strategy is working. Although we believe the environment in 2010 will remain tough, we expect to grow revenue, earnings and free cash flow while continuing to invest in solutions that will help our clients to be even more successful," Yabuki said.
 

Several properties owned by New Land Enterprises, including the Oriental Theatre and Landmark Lanes, are the targets of a new foreclosure lawsuit.
Local developer Boris Gohkman told WISN-Channel 12 that three properties in Milwaukee County are being targeted in the suit.
Gohkman said Madison-based Anchorbank filed a foreclosure suit against him and other partners. Anchorbank is seeking nearly $15 million owed on the loans, late fees and interest.
The Oriental Theatre, which is more than 75 years old, is still operating on Milwaukee’s east side.
Gokhman said the Hebhegger Building on Milwaukee’s east side and a property in Whitefish Bay also are targets in the suit.
Gokhman said New Land’s partners are confident they will come to a "mutually satisfactory conclusion" and continue with future development.
WISN-Channel 12 is a media partner of BizTimes Milwaukee.

Whitefish Bay-based Sendik’s Food Markets plans to open a Sendik’s grocery store at 3600 S. Moorland Road in New Berlin. Catch up on the latest real estate news in the BizTimes Real Estate Weekly bulletin.

Minnesota could be a major factor in deciding whether a high-speed rail route between Chicago and the Twin Cities goes through La Crosse or Eau Claire, Gov. Jim Doyle said. Read more in BizTimes Milwaukee's headlines from around the state at http://www.biztimes.com/#news.

Perhaps only in Milwaukee could an $810 million allocation from the federal government be controversial. But that’s what is happening with the high-speed rail project proposed to connect Milwaukee to Madison. The issue is sure to divide the local business community. Read more in today’s Milwaukee Biz Blog by BizTimes executive editor Steve Jagler.

Neenah Enterprises, Inc., one of the largest foundry companies in the United States and a large supplier of castings to the domestic municipal and industrial markets, has filed for reorganization under Chapter 11 of the the U.S. bankruptcy code. The company also said it has reached an agreement in principle with key creditors on reorganization that will reduce its debt by approximately $220 million while providing 100% recoveries for its suppliers and vendors.

"We've been going through efforts to streamline operations and reduce expenses over the last few years, with the intent of keeping sufficient liquidity to move operations forward," says Robert E. Ostendorf, Jr., President and CEO of NEI.  "We will emerge from this stronger and more financially sound than ever.  There is a bright future ahead for NEI."

The Company also announced that, pending the Bankruptcy Court's approval, it has received commitments for up to $140 million in debtor-in-possession (DIP) financing to fund continuing operations.  The financing will provide ample liquidity for the company and will allow it to continue funding its ongoing operations, including the payment of all employee wages and benefits in the ordinary course and the payment of all post-petition obligations to suppliers.

The Company filed a variety of customary "first day" motions with the Bankruptcy Court to enable it to continue business as usual during the restructuring.  These motions include requests to continue paying employee wages and benefits in the ordinary course and to continue all existing customer programs.