Banking & Finance

So long, 2012, a year in which the economy took two steps forward for every one step back, and welcome to 2013, a nestling born on the edge of a cliff. Here are some trends worth following.

Anchor BanCorp Wisconsin Inc., the Madison-based holding company for AnchorBank, has completed the prepayment of $150 million of Federal Home Loan Bank (FHLB) advances.

As Wisconsin gets closer to considering an early stage investing bill, it is important to get the basic principles right. Here’s my take on how to proceed on solid ground:

The state legislature will consider the creation of a new venture capital fund. Such a fund should be a public/private partnership, according to Sen. Frank Lasee.

Milwaukee-based Mason Wells announced it has closed on the acquisition of A&R Logistics Inc., a Morris, Ill.-based bulk transportation and logistics company.

Bolstered by a strong cast of fall movies, The Marcus Corp. today reported fiscal second quarter net earnings of $4.7 million, or 17 cents per share, up from $2.8 million, or 10 cents per share, in the same period a year ago.

Gladstone Capital Corp., a McLean, Va.-based investment company, today announced today it has invested $19.5 million in Allen Edmonds Shoe Corp. of Port Washington by purchasing a loan from one of Allen Edmonds' existing lenders.

The U.S. economy grew more quickly than previously stated in the third quarter due to stronger trade, faster health care spending and increased local government construction, the U.S. Commerce Department reported today.

As we approach the end of 2012, and with the holidays upon us, many Americans will be giving gifts in December by way of a check. This year is unique because the Fiscal Cliff is also upon us. Some people will be writing very large, multimillion-dollar checks to family members with the hopes of taking advantage of favorable tax conditions in advance of the Fiscal Cliff. Those taxpayers may become victims of their own generosity.

A second review presented to the Wisconsin Economic Development Corp.'s board of directors said the agency's problems stemmed from transferring duties from the old Department of Commerce.