Economic Development
Strattec caps strong fiscal year
Milwaukee-based Strattec Security Corp. reported fiscal fourth quarter net income of $3.2 million, or 97 cents per share, up from $2.7 million, or 81 cents per share, in the same period a year ago.
Magnetek’s profits rise
Menomonee Falls-based Magnetek Inc. reported second quarter net income of $3.2 million, or 99 cents per share, up from $1.2 million, or 37 cents per share, in the same period a year ago.
Drought takes toll on Briggs & Stratton
Milwaukee-based Briggs & Stratton Corp. reported a fiscal fourth quarter net loss of $8.4 million, or 18 cents per share, which was an improvement over a net loss of $17.8 million, or 36 cents per share, in the same period a year ago.
Kohl’s earnings dip
Kohl's Corp. reported second quarter net income of $240 million, or $1.00 per share, down from $299 million, or $1.08 per share, in the same period a year ago.
IMS earnings grow
New Berlin-based International Monetary Systems Ltd. reported second quarter net income of $98,647, up from $77,196 in the same period a year ago.
Rockwell acquires Chinese manufacturer
Milwaukee-based Rockwell Automation Inc. announced it has agreed to purchase the assets of the medium voltage drives business of Harbin Jiuzhou Electric Co. Ltd. of China for $83 million.
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Trade deficit stifles growth
Today, the Commerce Department reported the deficit on international trade in goods and services was $42.9 billion in June.
Wisconsin Bank & Trust to merge with First National
Heartland Financial USA has announced Wisconsin Bank & Trust will acquire First Shares Inc., the parent company of First National Bank in Platteville, for $11 million.
Chicago can’t be Milwaukee’s savior
Some big thinkers, looking for big answers for the troubles afflicting the Milwaukee economy, keep looking south to Chicago.
New hires and promotions
Jack Nelson has been hired as senior vice president- financial advisor sales manager at Johnson Financial Group. He has...