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Wisconsin Business News


Provided by Milwaukee Journal Sentinel

Steinhafels to build furniture store, anchor new Greenfield development
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The new store will be near an older Steinhafels, which eventually will be demolished to make way for new development.

Free verse: Mayfair mall poets express your holiday sentiments
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Using information provided by the shopper, the poets pen an original poem in 15 minutes or so. Then they type it up on fine paper and offer it to the shopper, free of charge, to give as a gift.

Fed to be 'patient' on rate increases
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Washington— The Federal Reserve is edging closer to raising interest rates from record lows given a strengthening U.S. economy. But it will be"patient" in deciding when to do so.

Bielinski Homes plans City of Pewaukee apartment development
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A $9.5 million apartment development, totaling 117 units, is being proposed for a 34-acre site north of I-94 and west of Springdale Road, a former apple orchard owned by the Becker family.

Madison's Redox raises $350,000 in outside funding
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Redox, a Madison software development tool maker, said that $350,000 of outside funding has helped the company sign up four clients, with five more likely to begin using the company's product this week.

Madison tech company SmartUQ raises $1.8 million
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SmartUQ LLC, a Madison company that provides a faster way to do complex computer simulations, says it has raised $1.8 million, all from Wisconsin-based investors.

Harley recalls motorcycles with defective turn signal indicators
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According to the recall notice,“the rider may not be aware that a front turn signal is not working. And without working turn signals, there is an increased risk of a crash.”

Freshwater Plaza plan, financing win council OK
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The $48 million Freshwater Plaza mixed-use development planned for Walker's Point, and city financing help for the project, have received final approvals from the Milwaukee Common Council.The project, at S. 1st St. and E. Greenfield Ave, will feature a four-story, 72-unit apartment building with street-level retail space; a 42,000-square-foot Cermak Food Market; two additional retail buildings, and a future office building with a parking structure.Wangard Partners Inc. plans to begin construction next spring, with completion by spring 2016.Wangard's financing includes a $27.9 million bank loan, $3.2 million in equity, a $1 million state grant and $10.8 million in federal New Markets Tax Credits, which are provided for commercial developments in lower-income neighborhoods. That requires Wangard to set aside 20% of the apartments at below-market rents for moderate-income people.The $4.8 million in city funds will be paid back by Freshwater Plaza's property taxes. The city is financing an environmental cleanup at the former foundry site, as well as sewers, water mains and other public improvements.The council on Tuesday voted 14-0 to approve the project.

Joy Global 4Q earnings double; warns of 'challenging' 2015
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Commodity prices have declined, as an oversupply of materials has reduced the number of mining projects approved, the Milwaukee mining equipment manufacturer said.

Apple ipod ruling has no effect on the company's current practices
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A federal jury decided Tuesday that Apple didn’t compete unfairly when it sold music players and songs with copy-protection software that was incompatible with rival devices and music from competing online stores.

Indoor go-kart track proposed for former American TV site in Pewaukee
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An indoor racing rack, with go-karts that reach speeds of 50 mph, is being proposed for the former American TV& Appliance store in Pewaukee.

Wisconsin gets $2.5 million to improve health care payment system, quality
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The grant is from money allocated under the Affordable Care Act to test innovations that could make the health care system more efficient.

Former Lighthouse Development owner files for bankruptcy
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Brett Grasse estimated his debts at $10 million to $50 million, and his assets at $500,000 to $1 million.

More manufacturers upbeat about 2015 revenue growth, ASQ survey finds
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An international survey of manufacturers showed increasing optimism, with 83% expecting revenue growth in 2015, an increase from 64% in 2014.

Loan default could lead to sale of Downer Ave. buildings, theater
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Buildings that make up roughly half of the Downer Ave. business district— including the Downer Theatre — could be sold at auction after a foreclosure judgment was filed on the properties.

Southwest Airlines union leafleting at Mitchell International
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Transport Workers Union of America Local 555 represents more than 10,000 ground crew workers at Southwest Airlines. The union is picketing at 15 other airports on Tuesday.

Exact Sciences to sell 4 million shares in secondary offering
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The shares, which Exact previously sold to Jefferies LLC and Robert W. Baird& Co., will be sold to the public at a price of $25.75. The offering is expected to close on Dec. 19.

Cambridge Major Laboratories plans $20 million expansion
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Cambridge Major’s expansion will include a new administrative headquarters, as well as additions to its research and development and manufacturing capacity in Germantown.

ABC Supply acquires building-supply store operator
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Beloit's ABC Supply Co. Inc. has purchased Siding World, a Detroit-based company that operates 17 building-supply stores in Michigan, Indiana and Ohio.

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