Ideas

Growth in mining, strong replacement demand for products in the United States and a continued focus on cost management helped Caterpillar Inc. deliver record quarterly profits of$1.6 billion, or $2.37 per share in the first quarter, up from $1.2 billion, or $1.84 per share, in the same period a year ago.

First Business Financial Services Inc., the Madison-based parent company of First Business Bank and First Business Bank-Milwaukee, reported first quarter net income of $2.2 million, or 84 cents per share, up from $1.3 million, or 52 cents per share, in the same period a year ago.

Milwaukee-based Robert W. Baird & Co. Inc. posted record revenues of $925 million in 2011, up 9 percent from 2010, according to the company's annual report.

PLC Holding of France has acquired Wisconsin Oven Corp., an East Troy-based manufacturer of industrial ovens for the aerospace, automotive, composite and finishing industries.

The PNC Financial Services Group Inc. announced that its board of directors has elected William Demchak to be president of the corporation and its principal banking subsidiary, PNC Bank, National Association.

Milwaukee M&A advisory firm Cleary Gull has acted as advisor for PMT Indsutries LLC, which was recently acquired by W.T. Walker Group Inc.

Promontory Point Capital, a Milwaukee investment banking boutique, has served as financial advisor for QuickCable, which was recently acquired by Tonka Bay.

A suit brought by Milwaukee headphone manufacturer Koss Corporation against Milwaukee-based Park Bank moved forward Monday following a hearing in the case.

Manufacturing activity in southeastern Wisconsin and northern Illinois picked up slightly in April, according to the Marquette University Manufacturing ISM Report on Business.

Wisconsin Gov. Scott Walker today announced Transform Milwaukee, which he described as an “historic and comprehensive” initiative aimed at growing the economy in the City of Milwaukee.