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Madison Wisconsin State Journal (Newspaper) - April 21, 1994, Madison, Wisconsin
Wisconsin state journal business editor Robert l. Franzmann 608 252-6153trends area briefs Small business a amp a 2f Mutual funds of Stock listings 6f Home building rebounds lunar corp. Of Madison announced that total revenues for the Quarter ending March 31, Rose to $8 million from $6.6 million a year ago. Net income for the Quarter increased to $2 million or 35 cents per share compared with net income of $1.2 million or 21 cents per share a year ago. The increases in sales and Revenue for the Quarter were primarily due to Strong sales of the Achilles product line. For the nine months Densi ometry sales Rose to $20.7 million from $18.2 million a year ago. Net income for the nine months increased to $4.1 million or 72 cents per share from $3.9 million or 70 cents per share. Lunar develops products for the diagnosis monitoring and treatment of osteoporosis and other diseases. Manitowoc co. Plans to close one of its two Crane plants Here and initiate a second round of permanent layoffs. Up to too employees in the Crane division will soon lose their jobs in addition to too Laid off earlier this month said Fred Butler chief executive officer of the company Manitowoc employs about 1,600 people in Wisconsin including about 1,000 in the Crane division which is known As Manitowoc engineering. The company a Wisconsin operations also manufacture commercial ice and refrigeration equipment and repair ships. Briefs compiled by Elaine Winter units boast of amenities by Chris Martell Wisconsin state journal Wilson Bay apartments a 35-unit project at the Corner of West Wilson and Bassett streets is nearing completion and will be available for rental in june. Developed by Robert Keller and Joseph Krupp it contains units ranging in size from 500 to 1,100 Square feet. Apartments in the three Story building will rent from $550 for a studio to $1,150 per month for the most expensive two bedroom two bathroom unit. Among the amenities Are underground parking Bay windows in Many units balconies 9-foot-High ceilings an elevator and washers and dryers in All but the studio apartments. A a it a a very traditional design and there is lots of detail in the common areas a Krupp said. A it feels like an old hotel City approval of the $2.3 million project was Uncertain for a while because of controversy about one of the three old houses the Wilson Bay apartments will have units ranging from 500 to 1,100 Square feet which will be available in june. That were demolished to make room for the building. Preservation officials argued that an 1862 vernacular italianate Brick House had historical significance. Krupp said it would have Cost about $200,000 to move and renovate it. A we made a lot of attempts to relocate it but it did no to make eco nomic the partners said a Market study showed Strong demand for upscale apartments in the area. A there is nothing else with amenities like this for people who want to walk to work downtown or on state Street a Keller said he predicted the Bassett neigh boyhood would no longer be dominated by students who have been moving closer to Campus into new apartments. A this had been student housing since the 1960s," said Keller. A the Bassett housing Stock was More than too years old and even when it was new it was not necessarily High Quality that limits the redevelopment possibilities a Good portion of what goes into that area in the future will have to be new Wilson Bay apartments was designed by sign amp a an Atlanta architectural firm and was built by Krupp construction. Gain to 1.31 million. But with arrival of More temperate weather in March starts jumped 12.1 percent to a 1.47 million rate the Commerce department said wednesday. That was even higher than the 1.41 million rate that Many analysts expected. Every Region in the nation posted gains led by a 30.4 percent jump in the Midwest. A if rates had not gone up March would have been even better a Seiders contended. According to surveys by the Federal Home loan mortgage corp., rates averaged 7.75 percent in March up from 7.14 percent a month earlier. They hit 8.47 per but Many builders fear rising interest rates cent two weeks ago but dipped Back to 8.26 percent last week. Meanwhile Treasury Secretary Lloyd Bentsen said recent Federal Reserve moves to boost Short term interest rates would slow economic growth from 3.5 percent this year to just 3 percent. However in remarks to a Senate appropriations subcommittee he avoided any direct criticism and said he supported the purpose of the increases. A they Are trying to set a policy to permit expansion to continue without increasing inflation and non inflationary sustainable growth is a goal we All want a he said. But Bentsen contended the Rise in Long term rates which have been accompanied by Sharp declines in the financial markets defied logic. The mortgage Bankers association predicted wednesday the fed would boost Short term rates three More times this year. A the fed is doing the right thing a executive vice president Warren Lasko told reporters adding that when the financial markets see the a correctness of the moves a Long term rates will moderate. But that will take time Lasko said predicting that Mort please see Economy Page 3f vector suspends 4/13/92 9/28 12/21 3/15 8/7 8/30 11/22 4/11/94 totals induce All new residential construction and nonresidential construction permits issued Tor at least $100,000. Areas Are Madison. Fitchburg Monona Middleton and Sun Prairie Middleton group asks Bank charter Neal Brunner president of Brunner amp associates a Middleton financial services company has filed an application with the office of the Wisconsin commissioner of banking for a Bank charter in Middleton on behalf of a group of local investors. Brunner indicated the group is interested in forming an Independent Community Bank in Middleton with local ownership and an Active local Board of directors. Several locations for the Bank Are being considered. Brunner said when the charter is granted the Bank will open immediately in temporary quarters while a permanent Home is being built. James Champy co author of the new York times Best seller a or engineering the corporation a manifesto for business revolution a will discuss what corporations need to do to survive in the global marketplace at a Day Long seminar sponsored by the us Madison business schools management Institute. A panel of nationally known business leaders including pleasant Rowland of the pleasant co. In Middleton Warren Haug Proctor amp Gamble Harry Jansen Kraemer jr., Baxter International David Sonstegard 3m and Obert Vattendahl United steelworkers of America will discuss How re engineering has made their organizations More efficient innovative and profitable. Jeff Greenfield Abc news analyst and syndicated columnist will present a Media View of the changing . Business climate. The conference will be held at us Madison on May 6. The Cost is $225. Call 800 292-8964 for More information. Downtown apartments near completion state journal photo Joseph w Jackson Iii Carl Weaver 70, who is planting com earlier than he Ever has checks his seeds to see How Well his planter is working. Early planting possible Farmer takes risk by sowing seeds before May i by Mike Flaherty agriculture reporter Oregon a Carl Weaver has been tilling the soil around the Oregon area for most of his 70 years and he a never seen it quite like this. Quot this is the earliest in be Ever planted Corn a he said this week As he throttled up the Ford tractor and gently lowered the planter to the seedbed head prepared in a 54-acre Field on the North Edge of Oregon. A ifs a risk planting Corn this Early. The Corn takes two weeks to come up and there a always a Chance it could come up and freeze off. Ifs happened before a he said. A a it a a risk. But farming is a its been a Good couple of weeks for those who depend on the soil for their livelihood. As of mid week about three fourths of the Small grains were planted and a great Deal of Spring Field work had been completed said Lee Gross Dane county Extension agent. With the lowering of weavers Case International six Row planter this week the Corn planting season also began. The Spring Progress of Wisconsin a 79,000 Farmers is largely the result of a relatively dry warm Spring that erased the olympic sized pools of water Farmers expected after last years deluge and a february that dumped almost As much Snow on Dane county As it receives during an entire Winter. The Wisconsin agricultural statistics service and the National weather service report that March brought almost no rain on the state a and april rainfall is already almost an Inch less than Normal. During a five year average South Central Wisconsin normally would have received two inches of rain since april i. Instead it has received 1.2 inches. The Sun has been shining too a but not much More than it usually does. The 30-year average temperature As of this week is 48 degrees a and this Springs average has been 50 degrees. A we like to see soil temperatures up Over 50 degrees before Corn planting starts a Gross said. A tradition says Corn planting Start until May i. But we be been pushing that a Little. We re now saying that the last week of april Isnit too weavers pushing even that recommendation. A the soil temperatures Arentt warm enough a he admitted. A but i want to get my Beans in Early this soybeans Are usually planted after the com. What Farmers such As Weaver will do this Spring is of no Small consequence to please see planting Page 2f recruiting by Paul Johnson assistant business editor a cutlery sales company that has had run ins with the state department of agriculture Trade and consumer Protection Over recruiting of salespeople will not be doing business in Wisconsin this summer a company spokesman said wednesday. Last month the state ordered vector marketing to disclose to Young people it is recruiting exactly what jobs Are being offered and what the jobs might actually pay. The Agency threatened to prosecute if there Are any violations. Last year the state filed a complaint against vector a division of alias corp. Of Olean n y., saying that vector recruited sales trainees typically College students by misleading them about the jobs. According to the complaint a the positions actually were As Independent contractors not employment with vector As was implied. A vector implied that an hourly wage would be paid when that was not the Case. A vector failed to Tell potential recruits that they would be strongly urged to buy $200 sales kits. A vector did no to Tell recruits that a minimum number of demonstrations would have to be completed before they were paid. Company officials said the complaint last year effectively shut Down vector in Wisconsin which had had about eight Branch offices employing up to 140 people in the state including one office in Madison. Erick Laine president of alias which has been in business for 45 years had said earlier this month that vector did Hope to set up shop in Wisconsin this year. At this time however vector does no to have an office Here. Laine said vector is working on How to recruit salespeople without violating the state order. Chris Panus vector Legal coordinator said wednesday that the company is changing its advertising and commission Structure to comply with the state and that has delayed its hiring a Recruiter in Wisconsin. He said it became a matter of timing and that the company is looking at autumn before restarting Here. He said vector has resolved similar complaints by two please see vector Page 2fdane county regional Airport passenger departures plane boardings x 1.000 4/13/9? 9/28 12/21 3/15 6/7 8/30 11/22 4/11/94by John d. Mcclain associated press Washington housing construction rebounded in March from a Winter slump but builders fear sales May be threatened by rising interest rates. David f. Seiders an economist with the National association of Home builders said a late March Early april Survey of 455 members found Many expressing con area construction spending millions of dollars Cern Over the increased Cost of mortgages. A obviously builders Are aware of How important rates Are to their businesses a he said. After spiking to a 1.61 million annual rate in december housing starts plunged 21.2 percent in january to 1.27 million because of the harsh Winter. Continued inclement weather held the rebound in february to just a 3.4 percent Dane county lob openings filed with Dane county Job service 4/13/92 9/28 12/21 3/15 8/7 8/30 11/22 4/11/94 unemployment compensation individual paid under All Benefit program in Dane county by the department of Industry labor and human relations 0 4/13/92 9/28 12/21 3/15 617 8/30 11/22 4/11/94 Wasj graphic if thursday april 21,1994
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