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Wisconsin Business News


Provided by Milwaukee Journal Sentinel

Spring rebound drives optimism
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The U.S. economy rebounded heartily in the spring after a dismal winter, the Commerce Department reported Wednesday, growing at an annual rate of 4% from April through June.

Fed slows pace of bond buying
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Washington— The Federal Reserve is further slowing the pace of its bond purchases because it thinks an improving U.S. economy needs less help. But it's offering no clearer hint of when it will start raising its key short-term interest rate.

Journal, Scripps deal announced
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Newspaper group to be based in Milwaukee; broadcast company in CincinnatiJournal Communications Inc. of Milwaukee and E.W. Scripps Co. of Cincinnati will merge their broadcast operations while spinning off their newspapers into a separate company.

Journal, Scripps deal announced
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Journal Communications Inc. of Milwaukee and E.W. Scripps Co. of Cincinnati will merge their broadcast operations while spinning off their newspapers into a separate company.

Manitowoc Co. says quarterly profits dropped 19%
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The Manitowoc Co. saw profits slide 19% in the second quarter as rising sales in its food service equipment segment were offset by a drop in sales in the construction crane unit.

Master Lock acquires N.Y.-based Sentry Safe for $117 million
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Master Lock Co. acquired Sentry Safe, which calls itself the leading North American brand of security safes for residential and light commercial markets, it was announced Wednesday.

'Factoryless' label could change how U.S. counts manufacturing jobs
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Statisticians propose applying‘manufacturers’ to companies that design, market and distribute their products in the U.S. but have them made elsewhere.

Roadrunner Transportation earnings up nearly 40%
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A 39% rise in sales helped boost second-quarter earnings for Roadrunner Transportation Systems Inc., the company said Wednesday.

Cargill to close Milwaukee beef facility, cut 600 jobs
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In announcing the closing of its beef slaughterhouse in Milwaukee effective Friday, the company cited the“harsh reality” of the record-low U.S. cattle herd.

Regal Beloit reports earnings increase
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With improved sales in some of its businesses, including Milwaukee Gear, Beloit-based Regal Beloit Corp. on Wednesday reported a 10% increase in its second-quarter earnings.

Venture investments can be directed to certain companies, foundation says
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BrightStar Wisconsin Foundation Inc., which uses charitable donations to make venture investments in young Wisconsin companies, said Wednesday donors may now earmark contributions for investments in companies with ties to the University of Wisconsin - Madison.

Super Steel offers signing bonuses for experienced welders
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Milwaukee manufacturer Super Steel says it's having job fairs, Saturday and Aug. 6, for the purpose of hiring about 25 welders.

Quarterly profit doubles at Spectrum Brands
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Quarterly profits more than doubled for Spectrum Brands Holdings Inc. as sales rose in three of its four divisions, the maker of Rayovac batteries, Cutter insect repellent and many other consumer products said Wednesday.

Super Steel offering signing bonus for experienced welders
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Milwaukee manufacturer Super Steel says it's having job fairs, Saturday and Aug. 6, for the purpose of hiring about 25 welders.

Tech start-up lands $1.25 million in funding
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Abodo.com, a Madison start-up that offers online apartment listings, said Wednesday it has raised $1.25 million in a funding round led by American Family Ventures.

Rockwell earnings weaker than expected
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Shares for Rockwell Automation Inc. fell more than 5% at the start of trading Wednesday after the Milwaukee-based supplier of automation technology reported weaker than expected quarterly earnings.

We Energies parent warns that cool summer will hurt profit
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Wisconsin Energy Corp. said cost controls helped it offset the impact of a cool start to summer.

Chicago's Exelon Corp. to purchase marketing arm of Integrys Energy
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Integrys Energy Services is based in De Pere and has 280 employees.

We Energies ruling could shift costs to Michigan
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Regulators sided with a group of Wisconsin utilities that protested how much other utilities were paying We Energies to run its plant in Michigan.

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