Ideas

Ninety-three employees will be laid off at the Eaton Corp.’s Watertown facility as a result of the permanent discontinuation of its printed circuit boards product line. The layoffs are expected to begin June 30 and continue in phases through Dec. 31.

James Luterbach Construction Co. Inc. plans to build a 72,000-square-foot industrial building on a vacant 11-acre site at 16100 W. Beloit Road in New Berlin, according to plans submitted to the city.

Glendale-based Sprecher Brewing Company will raise a glass to its 30th anniversary with the release of a number of new beverages, including a limited edition Honey Root Beer.

Employee Stock Ownership Plans (ESOPs) can be an attractive way for an owner to sell a company and for employees to gain an ownership stake. ESOPs are qualified retirement plans that buy, hold and sell company stock for the benefit of employees. One of the main reasons ESOPs are often dismissed by business owners (and their advisors) as a legitimate succession planning option is due to the many unfounded misconceptions about them. In reality, many businesses are a perfect fit for ESOPs, but the business owners will never know because they think selling to a private equity or other third-party buyer are their only legitimate alternatives. Discussed below are some of the most common myths associated with ESOPs (sometimes referred to as “ESOP fables”):

U.S. Sen. Tammy Baldwin (D-WI) kicked off the Manufacturing Jobs for America campaign on April 29 along with U.S. Sen. Chris Coons (D-DE) at an event in Washington, D.C.

Milwaukee-based vehicle access control products manufacturer Strattec Security Corp. announced that VAST LLC has executed a $12 million agreement to become a 50:50 joint venture partner with Minda Management Services Limited.

The Wisconsin Economic Development Corp. has announced it will make its trade representatives for 16 international markets available for one-on-one meetings at the Wisconsin International Trade Conference on Thursday.

David Kohler will succeed his father, Herbert Kohler Jr., as the next chief executive officer of Kohler Co.

The full-time employee turnover rate among Midwestern manufacturing companies is about 18 percent, according to new survey from MRA-The Management Association.

A key measure of Milwaukee-area manufacturing activity indicated contraction in April. The seasonally adjusted Purchasing Managers Index was below 50 for the first time since April 2014, according to the Marquette-ISM Report on Manufacturing.