Job openings at U.S. public and private-sector employers increased by 193,000 in January to a seasonally adjusted 2.7 million, the highest level in nearly a year, according to the U.S. Labor Department.
Job openings increased 7.6 percent, the second consecutive monthly increase and the highest level since February 2009.
In January, the number of workers hired rose by 83,000 to a seasonally adjusted 4.08 million. Meanwhile, the number of workers who left their job fell by 73,000 to 4.12 million. The number of layoffs fell by 159,000 to 1.89 million, a 21-month low.
Wall Street reacted favorably to the data with modest gains by mid-morning, before declining slightly around noon. The largest local gainers in the BizTimes Stock Index this morning were Harley-Davidson Inc. (up 91 cents to $27.59) and Bucyrus International Inc. (up 87 cents to $66.50). The largest local decliners this morning were Wisconsin Energy Corp. (down 14 cents to $49.72) and Johnson Controls Inc. (down 6 cents to $31.61).

The results of MRA-The Management Association’s Economic Outlook and Business Strategy Survey of more than 500 Midwestern companies paints a picture of optimism tinged with caution.
While more than six in 10 companies believe their sales will be greater in 2010 than 2009, the March 2010 report shows that more cost-cutting measures are anticipated than were reported in 2009.
According to the survey, 43 percent of companies believe they will be hiring in 2010, compared with only 9 percent in the June 2009 survey.
When asked in June about anticipated 2009 sales, 72 percent forecast a decrease in 2009 sales compared with 2008 levels. Now in the first quarter of 2010, only 12 percent anticipate a decrease in sales compared with 2009 and 61 percent predict an increase.
Many companies reported decreased staff counts in June 2009, likely tied to decreasing revenues. With revenue predicted to increase, more companies are planning to increase their staff counts, either by recalling laid off workers, adding temporary workers or hiring new employees, particularly in quarters one and two.
In March 2010, additional cost-cutting tactics are back on the table. The measures most frequently cited are: reduce work hours; require furloughs; shift larger share of health care costs to employees; reduce or suspend 401(k) match; reduce or eliminate bonuses/profit sharing; and hiring freezes.

MF Acquisition Corp. Inc., which is a wholly owned subsidiary of NOG Inc., a Milwaukee-based company with interests in forging, fabricating and machining,, has entered into an agreement to purchase the assets of Milwaukee Forge.
Milwaukee Forge entered state Chapter 128 receivership in February.
The agreement with MF Acquisition is expected to be filed in court later this week. It has been agreed upon by Milwaukee Forge’s secured lender and its receiver, attorney Michael Polsky.
If the agreement is approved, NOG Inc. will purchase the assets of Milwaukee Forge, continue operations on its site and hire substantially all of its employees, Jim Mitchell, chief executive officer of NOG, said in a prepared statement.
NOG owns a forging facility in Kentucky, which has similar operations to Milwaukee Forge, said Dave Lauer, chief financial officer of the company. Many of the firm’s managers worked at Interstate Forging Industries, which was formerly headquartered in Milwaukee.
“The Milwaukee Forge situation looked like an opportunity to expand our offerings in our forging group,” Lauer said. “We will do our best to retain the customers and hire the employees there to try and make it a sustainable business.”
NOG also hopes to hire the managers of Milwaukee Forge.
Milwaukee Forge, if it is acquired by NOG, will operate as a stand-alone entity at first. Eventually, some synergies between it and the firm’s Kentucky forging company may be realized, Lauer said.
Lauer declined to disclose the purchase price that MF Acquisition and the receiver have agreed upon. That price will eventually be disclosed if the purchase is finalized in April, he said.
“We’ve been identified as the stalking horse bidder,” Lauer said. “Until the closing, which is expected at the end of April, the potential is there that someone could offer more money (for the company).”

Although consumer complaints nationwide rose 9.7 percent in 2009, the number of complaints against Wisconsin companies dropped nearly 8 percent, according to the Better Business Bureau (BBB).
In 2009, the Wisconsin BBB processed 15,027 complaints, which was a 7.7 percent decrease from 2008. New car dealers were the top complaint category, receiving 439 complaints in 2009, roughly the same number it received in 2008. Mail order and catalog shopping services were number two with 435 complaints, although it was a significant improvement from its 2008 mark of 589 complaints. Rounding out the top three are complaints against department stores, which totaled 353 (a 19 percent drop from 2008).
“Although complaints received by BBB offices throughout North America are on the rise, Wisconsin companies are fairing much better,” said Rand Hoth, president of the Wisconsin BBB. “Generally, consumer satisfaction with Wisconsin companies has significantly improved, especially when compared to companies outside of Wisconsin.”
Nationally, the cell phone industry received the largest number of complaints in 2009 with 37,477, a 2.1 percent increase over last year. The cable & satellite TV industry ranked second with 32,616 complaints, an 8.7 percent increase over the previous year. Rounding out the top three, banks received 29,920 complaints, a 42.3 percent increase over the previous year.
For a complete industry breakdown of all complaints filed with the BBB in 2009, and previous years, go to www.bbb.org/us/statistics.

Milwaukee World Festival Inc. officials announced today that “Verge” is the winning name for Milwaukee’s new alternative and modern rock music festival.
“Verge” was the top vote-getter in an online naming contest.
The creator of the winning submission is Katie Kostuck, a resident in the greater Milwaukee area. A final event logo will be revealed in the weeks to come along with the official festival website, www.vergemusicfestival.com.
The current entertainment lineup features: Weezer, AFI, Three Days Grace, Crash Kings, Eagles of Death Metal, Cold War Kids, The Raveonettes, Rogue Wave, She & Him, Nico Vega, Reni Lane, Jaill, The Championship, Figureheads, Geri X, Pezzettino, 1956, Red Knife Lottery, Invade Rome, Revision Text and Juniper Tar.
In addition to the music, “Verge” will feature a pro-am skateboard and BMX competition, tattoo contest and more. Verge will kick off the summer festival season on Friday, June 4, and Saturday, June 5, at Henry Maier Festival Park. 

The Bon-Ton Stores Inc., with corporate headquarters in York, Pa., and Milwaukee, today reported fourth quarter net income of $80.3 million, or $4.34 per share, which was an improvement over a net loss of $87.7 million, or $5.22 per share, for the same period a year ago.
The company operates Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's, Younkers and Parisian stores.
In the fourth quarter of fiscal 2008, the company recorded charges of $25.9 million to reduce the reported value of long-lived and intangible assets and $108.5 million to provide a deferred tax asset valuation allowance.
For the full fiscal year, Bon-Ton Stores reported a net loss of $4.1 million, or 24 cents per share, compared with a net loss of $169.9 million, or $10.12 per share, for fiscal 2008.
Bud Bergren, president and chief executive officer of Bon-Ton Stores, said, "We recognized early on the challenges we were going to face in 2009. Initiatives were identified and implemented throughout 2008 and 2009 to improve our cost structure and better position the company for the weakened economy as well as for the longer term. We managed our inventory conservatively, which contributed to 350 basis points of gross margin improvement in the fourth quarter and 210 basis points gross margin improvement for fiscal 2009. We controlled expenses, reducing our selling, general and administrative expenses by approximately $70 million on a year-over-year basis. We believe that as a result of these actions our organization is more appropriately structured for the environment and we have emerged a stronger company at the end of the year than we were at the beginning.”

Blaine O’Connell, chief financial officer for Froedtert & Community Health, will retire effective Jan. 1, 2011, following a 30-year career in health care.
O’Connell has served as senior vice president of finance and CFO since the inception of Froedtert & Community Health in 2001. He joined the organization in January 1993 as vice president and CFO of Froedtert Hospital.
“It’s been an honor to work with Blaine O’Connell during my 17-year tenure at Froedtert Hospital,” said William Petasnick, president and chief executive officer of Froedtert & Community Health. “In 1993, Froedtert had a net worth of $60 million and cash totaling only $20 million. Under Blaine’s leadership, we developed and implemented a creative strategic financial plan and a capital development plan as a means of financing growth. Seventeen years later, Froedtert & Community Health is one of the most financially sound healthcare systems in southeastern Wisconsin, with a portfolio worth more than half a billion dollars and a AA- bond rating achieved by less than 15 percent of hospitals in the country.”
Froedtert has hired a national search firm to find O’Connell’s successor.

Several U.S. cities, including Madison and Marshfield, are trying to persuade Google to choose them to test an ultra-high-speed fiber network that would deliver Internet speeds to residents more than 100 times faster than most Americans can access. Read more in BizTimes Milwaukee's headlines from around the state at http://www.biztimes.com/#news.

Milwaukee-based American Signal Corp., which manufactures warning sirens, plans to move its operations to a larger building in the city. The company’s owner, president and chief executive officer Dale Moeller, recently purchased a 39,000-square-foot building at 8600 W. Bradley Road, Milwaukee. Read more in the new edition of the BizTimes Real Estate Weekly.

Archbishop Jerome Listecki was the featured guest at the Milwaukee Press Club’s Newsmaker Luncheon at the Newsroom Pub on Tuesday. To view a photographic slideshow of the event, visit the latest edition of BizTimes Around Town. Businesses and organizations can submit photos for consideration in BizTimes Around Town to art@biztimes.com.

Answer today’s BizTimes Poll question at www.biztimes.com.

George Washington warned us about the evils of party politics. More than two centuries later, his words ring truer than ever. Read more in BizTimes Milwaukee executive editor Steve Jagler’s Milwaukee Biz Blog today.

A local investor group led by current Milwaukee Forge president and chief executive officer David Mesick today announced that it will submit a competitive bid to purchase substantially all the assets of the Bay View-based forging company.
Mesick said that he has assembled a local investment group that plans to submit a bid in the upcoming April auction for control and ownership of the nearly 100-year-old company.
The group led by Mesick plans to submit a bid to compete against a bid by MF Acquisition Corp. Inc., which is a wholly owned subsidiary of NOG Inc., a Milwaukee-based company with interests in forging, fabricating and machining.
Milwaukee Forge entered state Chapter 128 receivership in February.
“Our local group is prepared to make a very strong bid, and we believe that it will be successful when the auction is completed,” Mesnick said. “Our investor group represents the best overall package, and it also is the best chance to retain the 100-plus jobs in Milwaukee and continue operating the company as a local business.”
Mesick said the local group will not consider shifting or consolidating Milwaukee Forge operations to other locations outside of the state and is committed to maintaining its Milwaukee-area roots.
Other competing bids for the company also may be submitted before the auction is held.