Wisconsin Business News

Failed Walker's Point project triggers lawsuit
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An initial $600,000 investment in a Walker's Point hotel and apartment project that never was developed is at the center of a financial mess involving Milwaukee Laborers' Local 113.

Regal Beloit buys Milwaukee Gear for $80 million
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Regal Beloit Corp. said Friday it has acquired Milwaukee Gear Co. for $80 million cash.

Daglas named editor of Milwaukee Magazine
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Cristina Daglas, 27, has been named editor of Milwaukee Magazine.

Employers added 257,000 jobs; unemployment rate dips to 3 year low
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The nation's employers created more than a quarter of a million private-sector jobs last month and pushed the U.S. unemployment rate to its lowest level in nearly three years.

Modine stock falls on lower earnings forecast
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Modine Manufacturing Co. shares fell Friday after the company posted a 50% increase in quarterly earnings but missed analysts' estimates and said results for the full year would be weaker than expected, partly from the economic slowdown in Europe.

Spectrum Brands reports profitable quarter
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Spectrum Brands Holdings ( SPB), with brands such as Rayovac, Remington, Black& Decker and others, reported fiscal first-quarter profit on Friday of $13.1 million, or 25 cents a share, compared with a year ago loss of $19.8 million, or 39 cents a share.

Prices, unusual weather cool down heating bills
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Natural gas customers of the state's largest utility, We Energies, can expect to pay about 15% less than the $660 they paid last winter. That's a saving of about $100 on average.

Wisconsin Energy has record year
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Mild weather reduced fourth-quarter earnings for the parent of We Energies, but Wisconsin Energy Corp. still had a record year, thanks to its investment in new power plants.

January a mixed bag for retail
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In a month full of post-Christmas discounts and clearance sales, U.S. retailers posted mixed results in January.

Ryan, Republicans take Fed chief to task
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Ben Bernanke defended the Federal Reserve's decision to hold interest rates at record-low levels for the next three years, during a contentious hearing before federal lawmakers.

Bemis increases dividend 4.2%
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Bemis Co. increased its quarterly dividend by 4.2% to 25 cents a share from 24 cents, the Neenah-based supplier of packaging materials said Thursday.

Fiserv profit jumps 23%
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The Brookfield-based provider of financial technology posted net income of $143 million, or $1.01 per share, compared to $116 million, or 78 cents, in the fourth quarter of 2010.

Johnson Outdoors quarterly loss widens
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Johnson Outdoors Inc. said Thursday that its quarterly loss widened as military sales tumbled 66%.

Software firm Connecture hiring 25 in Waukesha, 75 more possible
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Connecture Inc., a growing health insurance software firm, is hiring for 25 jobs in Waukesha and expects to add another 75 this year.

Abrams named new CEO of Wisconsin Medical Society
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The Wisconsin Medical Society has hired William"Rick" Abrams as its new chief executive and executive vice president. Abrams, who will join the organization in early April, has served as executive vice president and executive director of the Medical Society of the State of New York since 2004.

Marcus acquires Duluth theater
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Marcus Theatres announced Thursday it will acquire the former Omnimax Theatre, located in the Duluth Entertainment Convention Center, adjacent to the company's 10-screen cinema in Duluth, Minn.

Kohl's January sales up 0.6%; increases earnings outlook
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Kohl's Corp. reported Thursday that same-store sales increased 0.6% for January, in line with the company's expectations, and raised its fourth-quarter earnings outlook as a result.

Snap-on reports solid fourth-quarter earnings
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With a healthy increase in tool sales, Snap-on Inc. on Thursday posted fourth-quarter earnings of $74.3 million, or $1.27 per share, up from $57.9 million, or 99 cents per share, a year ago.

National unemployment
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