Banking & Finance

West Milwaukee-based Rexnord Corp. reported a net loss of $2.2 million for the first quarter of its fiscal year, down from net income of $11.2 million in the first quarter of the previous fiscal year. Net sales were up 4.4 percent to $497 million.

Milwaukee-based Bank Mutual has planned a grand re-opening of its West Allis branch, 10296 W. National Ave., on Saturday, August 4.

Milwaukee-based Rockwell Automation Inc. reported fiscal third quarter profit of $190.7 million, up 6 percent compared to $179.5 million in the previous fiscal third quarter.

A strong early summer movie lineup and a recovering travel industry helped Milwaukee-based Marcus Corp. finish its fiscal year with record revenues, the company reported.

Milwaukee-based Journal Communications, which owns the Milwaukee Journal Sentinel, AM 620 WTMJ and Channel 4 TMJ4, was one of the biggest beneficiaries of the recall election for Gov. Scott Walker.

The U.S. economy grew at a modest pace during the second quarter as gross domestic product increased by only 1.5 percent, the U.S. Commerce Department reported.

Racine-based Johnson Bank has further extended its reach in the North Shore by hiring three new leaders at its Whitefish Bay branch.

David Schroeder has been named operating partner at Baird Capital Partners in Milwaukee.

Zach Brandon, director of the Wisconsin Angel Network, has been named vice chair of the national Angel Capital Association's public policy committee.
He will volunteer to coordinate a national public policy campaign that drives additional early stage investing across the country.

The federal government should put a strict “cap” on activities that banks and insurers do that get them in trouble.