Ideas

Greece’s expected default today on its International Monetary Fund loan payments and the resulting meltdown of its financial system and economy are dire, but they probably won’t have a huge negative impact on the U.S. economy, analysts say.

Every time the outlook has appeared gloomy for the prospects of an agreement for the public financing of a new arena in downtown Milwaukee, the various powers that be at the table have reassured me, “Relax. It will get done. It will get done, because it has to get done.”

A key measure of Milwaukee-area manufacturing activity once again indicated contraction in June. The seasonally adjusted Purchasing Managers Index was below 50 for now the third month in a row, according to the Marquette-ISM Report on Manufacturing.

When General Plastics Inc. president Robert Porsche bought the Glendale-based company in 1987, it had eight full-time employees, two customers and an 11,000-square-foot facility.

Onshoring has become a major trend in the United States. U.S.-based companies are increasingly pulling their overseas manufacturing efforts and setting up shop in the States. In fact, since 2010, more than 200 companies, most of which are U.S.-based, have brought back production that had been sent out of the country. In addition, foreign companies are increasingly bringing their manufacturing jobs to the United States. According to the Organization for International Investment (OFII), foreign investment in U.S. manufacturing totaled $493 billion from 2007 through 2012, as opposed to a total of $270 billion the previous six years.

Patrick Cudahy, a Wisconsin-based brand of Smithfield Foods, is beefing up its support of Summerfest with a new partnership that will introduce a bacon eating contest to the 11-day music festival.

Oconomowoc-based CL&D Graphics Inc. has named Mike Hokanson president.

Kenosha-based Jockey International Inc., known for men’s undergarments and women’s intimates, announced Tuesday the launch of men's and women's casual footwear. Jockey is partnering with New York-based footwear experts The Eastman Group to design, manufacture and market casual footwear, slippers, flip flops, and athleisure styles for men and women.

The board of directors of Eder Flag Manufacturing Co. Inc. in Oak Creek decided on Tuesday to no longer sell or manufacture Confederate flags.

Rexnord Corp. president and chief executive officer Todd Adams announced on Tuesday at the Water Summit that the company will establish the global headquarters of its Zurn business in the Reed Street Yards Water Technology Park located in Milwaukee’s Walker’s Point neighborhood.