Wisconsin Business News

Wisconsin Energy earnings climb 39%
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Wisconsin Energy Corp. said second-quarter earnings rose 39%, aided by a return to more normal weather and additional income from the company's $1.2 billion investment in its new Oak Creek power plant.

Small machine shops hit hard by flooding
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Ken Dragotta and Cecil Edirisinghe aren't sure they can survive the knee-deep sewage that inundated their precision machining and motor manufacturing businesses last Thursday.

Central States probe finds millions of dollars missing
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Millions of dollars are believed missing from the Central States Mortgage Corp., a discovery that likely will lead to litigation aimed at recovering the cash, according to the receiver for the defunct firm.

Business school dean to head UW Foundation
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University of Wisconsin-Madison business school dean Michael M. Knetter is the new leader of the University of Wisconsin Foundation.

Bankers Life settles with state over annuity sales
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A Chicago insurance company will forfeit $1.5 million and offer restitution to 5,700 Wisconsin residents to settle an investigation into alleged unsuitable annuity sales and do-not-call list and home solicitation violations.

Waukesha developer gets state grant to build dormitory
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Clysmic Properties will receive a $400,000 state grant for environmental remediation at the site of a planned dormitory at Carroll University, the state Department of Commerce said Wednesday.

Sheboygan start-up certified for tax credits
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Surgical Site Solutions Inc. has been certified as a qualified new business venture from the state Department of Commerce, which makes investors in the Sheboygan company eligible to receive as much as $1 million in tax credits.

Bankruptcy filings in state up 16% at midyear
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Bankruptcy filings in Wisconsin rose 16% during the first half of this year, an increase lawyers say was driven largely by consumers and small-business operators who couldn't find enough work in the slow economy to keep up with their debts.

State awards Palermo tax credits to complete expansion
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Milwaukee pizza maker Palermo Villa Inc. will get $342,000 in tax credits from the state Department of Commerce to complete a $22 million expansion and create 56 jobs.

Exact Sciences on track for new studies
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Madison-based Exact Sciences says the performance of its non-invasive DNA test for colon cancer put the technology on track for further studies.

Rockwell earnings triple in quarter, strong China growth cited
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Rockwell Automation Inc., a bellwether of manufacturing, reported net income more than tripled in the latest quarter.

Worries trump upbeat earnings
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New York— The disconnect between Wall Street and Main Street is growing.

Businesses feel impact of fire, rain
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It is expected to take crews six weeks to fix the sinkhole and the damage it caused to utility lines under the street, closing the key East Side intersection to traffic.The back-to-back misfortunes have left some business owners wondering what's next.

Manufacturing slowed a bit in June but still stronger than a year ago
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The pace of manufacturing in the Midwest slowed some in June but was still much stronger than a year earlier, according to a report Tuesday from the Federal Reserve Bank of Chicago.

Harley introduces new three new cycles for 2011
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Harley-Davidson Inc. has introduced three new motorcycles for 2011, including a Sportster meant for shorter and inexperienced riders.

International Automotive Components Group to cut 167 jobs in Sheboygan
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International Automotive Components Group, a $3 billion a year global auto-parts supplier, will close its plant in Sheboygan by the end of the year and eliminate 167 jobs.

Foodservice business lifts Manitowoc earnings
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Manitowoc Co. posted better-than-expected quarterly results Tuesday, although its crane division sales were down 31% from a year ago.

Fiserv second-quarter earnings fall
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Earnings at Fiserv Inc. (FISV) fell by 9.3% in the second quarter, a result affected by a one-time gain in the same quarter year ago.

Flooded Eaton plant to remain closed until Monday
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The Eaton Corp. facility at 4201 N. 27th St. in Milwaukee will remain closed until Monday as crews work to clean up flood damage at the site, a company official said.

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