How's that Hope and Change working out for you?
SkipperLiner closes: recession sinks boat maker; 55 lose jobs
By SAMANTHA MARCUS smarcus@lacrossetribune.com | Posted: Saturday, May 1, 2010 12:00 am
SkipperLiner Industries Inc. shut down operations Friday after suffering under the weight of a recession owner Noel Jordan called "just too long."
The French Island company permanently laid off 55 employees in Wisconsin and eight in Arizona, some of whom had only recently been hired.
Foreclosure rates surge, biggest jump in 5 years
Apr 15, 6:32 AM (ET)
By ALEX VEIGA
LOS ANGELES (AP) - A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.
RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago. In addition, households facing foreclosure grew 16 percent in the same period and 7 percent from the last three months of 2009.
AT&T will take $1B non-cash charge for health care
Mar 26, 3:38 PM (ET)
By BARBARA ORTUTAY
NEW YORK (AP) - AT&T Inc. will take a $1 billion non-cash accounting charge in the first quarter because of the health care overhaul and may cut benefits it offers to current and retired workers.
The charge is the largest disclosed so far. Earlier this week, AK Steel Corp., Caterpillar Inc., Deere & Co. and Valero Energy announced similar accounting charges, saying the health care law that President Barack Obama signed Tuesday will raise their expenses. On Friday, 3M Co. said it will also take a charge of $85 million to $90 million.
Local unemployment at 26-year high, but experts see job growth ahead
By Chris Hubbuch chubbuch@lacrossetribune.com | Posted: Thursday, March 18, 2010 12:00 am
The La Crosse metro area lost jobs in January even as the state saw a net gain, with local unemployment climbing to 8 percent, its highest rate in 26 years, according to figures released Wednesday.
FACT CHECK: Premiums would rise under Obama plan
Mar 17, 5:45 AM (ET)
By RICARDO ALONSO-ZALDIVAR
WASHINGTON (AP) - Buyers, beware: President Barack Obama says his health care overhaul will lower premiums by double digits, but check the fine print.
Premiums are likely to keep going up even if the health care bill passes, experts say. If cost controls work as advertised, annual increases would level off with time. But don't look for a rollback. Instead, the main reason premiums would be more affordable is that new government tax credits would help cover the cost for millions of people.
Listening to Obama pitch his plan, you might not realize that's how it works.
Unemployment rises in 30 states in January
Mar 10, 12:54 PM (ET)
By CHRISTOPHER S. RUGABER
WASHINGTON (AP) - Unemployment rose in 30 states in January, the Labor Department said Wednesday, evidence that jobs remain scarce in most regions of the country.
New home sales hit record low in January
Feb 24, 11:15 AM (ET)
By MARTIN CRUTSINGER
WASHINGTON (AP) - Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.
The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual sales pace of 309,000 units, the lowest level on records going back nearly a half century. The big drop was a surprise to economists who had expected sales would rise about 5 percent over December's pace.
First-time jobless claims rise unexpectedly
Feb 4, 9:41 AM (ET)
By CHRISTOPHER S. RUGABER
WASHINGTON (AP) - The number of newly laid-off workers filing initial claims for jobless benefits rose unexpectedly last week, evidence that layoffs are continuing and jobs remain scarce.
Big bucks for K St. in 2009
By Kevin Bogardus - 01/21/10 06:00 AM ET
K Street prospered in 2009 despite the lingering recession, as many firms reported sharp revenue increases thanks to a busy Democratic agenda.
On Wednesday, at least 19 firms reported growth in their lobbying revenue from 2008 to 2009, according to new records released under the Lobbying Disclosure Act. Lobbyists credited the surge in revenue to Washington actively looking to turn around the downturn as well as an aggressive legislative agenda by the incoming Obama administration and substantial Democratic majorities in both houses of Congress.
Area’s jobless rate rises to 6 percent
By STEVE CAHALAN | scahalan@lacrossetribune.com | Posted: Thursday, December 24, 2009 12:15 am
The La Crosse metropolitan area’s unemployment rate rose to 6 percent in November from 5.9 percent in October, the Wisconsin Department of Workforce Development said Wednesday. The unemployment rate also was up from 4.2 percent in November 2008.
Federal Salaries Explode
Posted by Chris Edwards
That’s the subject of a USA Today analysis, which reveals an outrageous increase in salaries at the top levels of the federal workforce. I’ve been complaining about excessive federal pay for some time based on one set of data, and now Dennis Cauchon provides strong support for my thesis using a different set of data.
Trane eliminates 21 salaried jobs in La Crosse
By STEVE CAHALAN | scahalan@lacrossetribune.com | Posted: Thursday, December 10, 2009 1:55 pm
Trane eliminated 21 salaried positions at its La Crosse operations this week because of the continued slowdown in orders and expectations that the slowdown will continue into 2010, a spokesman said this afternoon.
Owens closes both Shawano plants; 150 lose jobs
Press-Gazette • December 4, 2009
SHAWANO – Owens Inc., which makes doors and flooring at two locations in Shawano, closed both plants on Thursday, putting 150 people out of work.
Georgia-Pacific to lay off 158 at Green Bay's Day Street mill
By Richard Ryman • rryman@greenbaypressgazette.com • December 3, 2009
Georgia-Pacific's decision to lay off 158 workers at its Day Street tissue-converting facility in Green Bay is unexpected and devastating, according to a union leader at the mill.
"You see (layoffs) happening all around you, and you are always hopeful it doesn't strike your workplace," said Dennis Delie, president of United Steelworkers Local 213.
Rasmussen Consumer Index - Consumer Confidence Falls to Four Month Low
Wednesday, December 02, 2009
The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, fell three points on Wednesday to a four month low. At 69.0, the Consumer Index is down five points from a week ago and down seven points from a month ago. Confidence is now at the lowest level since July 24 and is up only nine points from the beginning of the year.
Economy's rebound not as strong as first thought
Nov 24, 9:07 AM (ET)
By JEANNINE AVERSA
WASHINGTON (AP) - The economy grew at a 2.8 percent pace last quarter, as the recovery got off to a slower start than first thought.
The Commerce Department's new reading on gross domestic product wasn't as energetic as the 3.5 percent growth rate for the July-September period estimated just a month ago.
Unemployment hits 10.2%
The unemployment rate spiked to its highest level since 1983, much worse than expected as employers continue to trim jobs despite other signs of growth.
NEW YORK (CNNMoney.com) -- The nation's unemployment rate rose above 10% for the first time since 1983 in October, a much worse jump than expected as employers continued to trim jobs from payrolls.
The reading, reported by the government Friday, is a sign of the continued weakness in the labor market even though the economy grew in the third quarter following the longest and deepest downturn since the Great Depression.
Inland Label announces layoffs
By Tribune staff | Posted: Saturday, October 24, 2009 12:15 am
Inland Label & Marketing Services in La Crosse on Friday announced layoffs at its label division due to lower-than-expected customer orders in 2009.
Franciscan Skemp cuts staff, hours
By TERRY RINDFLEISCH | Posted: Thursday, October 15, 2009 12:15 am
Franciscan Skemp Healthcare has eliminated jobs and reduced hours for some employees, saying fewer people are seeing their physicians or having elective surgeries.
Read the whole story here.
Unemployment rate to rise, could hit 10 percent
Oct 2, 7:16 AM (ET)
By CHRISTOPHER S. RUGABER and MARTIN CRUTSINGER
WASHINGTON (AP) - The unemployment rate hasn't topped 10 percent since June 1983, but it could return to that painful level soon - possibly as early as Friday, when the Labor Department issues its monthly jobs report.
Read the whole story here
Northern Engraving to close tool shop
By STEVE CAHALAN | scahalan@lacrossetribune.com | Posted: Tuesday, September 29, 2009 12:15 am
Sparta-based Northern Engraving Corp. says it plans to permanently close its Luxco Division tool shop at 2135 Enterprise Ave. in La Crosse because of significant and unanticipated decreases in sales and new tooling orders in the U.S. automotive and appliance industries.
Read the whole story here.
Chart to lay off another 90 employees
By STEVE CAHALAN | scahalan@lacrossetribune.com | Posted: Tuesday, September 15, 2009
Citing the slow global economy, Chart Industries Inc. is laying off 90 more employees at its Chart Energy and Chemicals division plant in La Crosse, effective Sept. 28.
Coupled with layoffs earlier this year, that will increase the number of idled employees to 212, or about 40 percent of the plant's workforce.
Read the whole story here.
Sales tax revenue declines for first time
The Associated Press | Posted: Monday, September 14, 2009 8:00 am
MADISON, Wis. - The amount of sales taxes collected by the state during the past year has dropped by about 4 percent - the first decline since Wisconsin began collecting the tax in 1962.
Consumers hit by economic hard times reduced spending, causing the sales tax to decline by about $4 billion in fiscal 2009.
Read the whole article here.
Jobless rate at 9.7 pct.; 216K jobs lost in Aug.
Sep 4, 8:36 AM (ET)
WASHINGTON (AP) - The unemployment rate jumped to 9.7 percent in August, the highest since June 1983, as employers eliminated a net total of 216,000 jobs.
Read the whole story here.
Associated Banc-Corp announces job cuts
By BARRY ADAMS | Wisconsin State Journal | Posted: Wednesday, August 26, 2009 7:00 am
MADISON - Associated Banc-Corp of Green Bay announced Tuesday it has cut positions from its workforce of 5,200.
Janet Ford, a spokeswoman for the parent company of Associated Bank, said the job cuts, which amounted to less than one half of a percent of the workforce, occurred over a series of days beginning last week. Officials did not release the number of jobs cut. The company has branches in Wisconsin, Minnesota and Illinois.
Read the whole story here.
Door County shipbuilder notifies state of 405 layoffs
The Associated Press | Posted: Wednesday, August 26, 2009 10:05 am
STURGEON BAY, Wis. - Door County's largest employer has notified the state it plans to lay off hundreds of workers this fall.
Read the whole story here.
Recession prompts rush on MinnesotaCare
MINNEAPOLIS - The MinnesotaCare health care plan for the poor and working poor is struggling to keep up with the demand for applications fueled by the sour economy.
The Star Tribune reports today that applications are up 25 percent so far this year, and in July alone are up 43 percent from July 2008, to 5,473 applications.
Read the whole story here.
Federal deficit higher in July, $1.27T this year
By Martin Crutsinger, AP Economics Writer
On Wednesday August 12, 2009, 3:07 pm EDT
WASHINGTON (AP) -- The federal deficit climbed higher into record territory in July, hitting $1.27 trillion with two months remaining in the budget year.
The Treasury Department said Wednesday that the July deficit totaled $180.7 billion, slightly more than the $177.5 billion economists had expected.
AP IMPACT: Bad bridges passed up for stimulus cash
Jul 31, 6:44 AM (ET)
By BRETT J. BLACKLEDGE and MATT APUZZO
WASHINGTON (AP) - Tens of thousands of unsafe or decaying bridges carrying 100 million drivers a day must wait for repairs because states are spending stimulus money on spans that are already in good shape or on easier projects like repaving roads, an Associated Press analysis shows.
New jobless claims rise more than expected
Jul 30, 8:59 AM (ET)
By CHRISTOPHER S. RUGABER
WASHINGTON (AP) - The number of newly laid-off workers filing first-time claims for jobless benefits rose last week, the government said, though the increase was mostly due to seasonal distortions.
Consumer confidence falls further in July
Jul 28, 11:30 AM (ET)
By ANNE D'INNOCENZIO
NEW YORK (AP) - Americans' confidence in the economy soured further in July as worries about job security offset any enthusiasm about the resumed stock market rally that has helped bolster retirement accounts.
The New York-based Conference Board said Tuesday that its Consumer Confidence Index, which retreated last month, fell to 46.6, down from 49.3 in June. Economists surveyed by Thomson Reuters were expecting a reading of 49. It would take a reading above 90 to signal that the economy is on solid footing.
AP IMPACT: Dodd, Conrad told deals were sweetened
Jul 27, 9:52 PM (ET)
By LARRY MARGASAK
WASHINGTON (AP) - Despite their denials, influential Democratic Sens. Kent Conrad and Chris Dodd were told from the start they were getting VIP mortgage discounts from one of the nation's largest lenders, the official who handled their loans has told Congress in secret testimony.
Both senators have said that at the time the mortgages were being written they didn't know they were getting unique deals from Countrywide Financial Corp., the company that went on to lose billions of dollars on home loans to credit-strapped borrowers. Dodd still maintains he got no preferential treatment.
AP-GfK Poll: Great hopes for Obama fade to reality
Jul 21, 10:30 PM (ET)
By NANCY BENAC and TREVOR TOMPSON
WASHINGTON (AP) - That was fast. The hope and optimism that washed over the country in the opening months of Barack Obama's presidency are giving way to harsh realities.
An Associated Press-GfK Poll shows that a majority of Americans are back to thinking that the country is headed in the wrong direction after a fleeting period in which more thought it was on the right track.
Big Dem cash dump on eve of climate vote
Three House Democratic leaders who were whipping members on the climate change bill gave tens of thousands in campaign cash to party moderates around the time of the 219-212 vote on June 26, according to Federal Election Commission records.
It's impossible to tell if that torrent of cash was an attempt to schmear wavering Democrats -- or just part of the usual cash dump made by leaders on the eve of the June 30 quarterly fundraising deadline.
CBO Chief Criticizes Democrats' Health Reform Measures
Director Says Proposed Changes Would Increase Health Care Spending
By Lori Montgomery
Washington Post Staff Writer
Thursday, July 16, 2009; 2:25 PM
Instead of saving the federal government from fiscal catastrophe, the health reform measures being drafted by congressional Democrats would increase rather than reduce public spending on health care, potentially worsening an already bleak budget outlook, the director of the nonpartisan Congressional Budget Office said this morning.
Business Beat: More manufacturing jobs leave state
Mike Ivey — 7/10/2009 5:57 am
Back when high-rise condos were all the rage and banks were loaning money to anything with a pulse, the announcement that a Stoughton manufacturing firm was laying off dozens of workers would have generated big news here.
These days, it hardly qualifies as a brief.
But reports that Zalk Josephs Fabricators plans to shed a quarter or more of its roughly 90 employees by fall is just the latest in a drumbeat of sour economic developments in the heartland.
Post new comment