Panel will shed light on financial crisis
Readers of the BizTimes Money bulletin are invited to attend a panel discussion featuring financial experts who will assess the U.S. economy and provide insights for investors at a Newsmaker Luncheon to be presented by the Milwaukee Press Club on Wednesday, Oct. 8.
The Newsmaker Luncheon will take place from noon to 1:30 p.m. at the Newsroom Pub in downtown Milwaukee, 137 E. Wells St.
The experts on the panel will include:
- Michael Sadoff, investment advisor at Sadoff Investment Management LLC, Milwaukee.
- Michelle Picard, vice president and principal at Geneva Capital Management Ltd.
- William McGinnis, a Chartered Financial Analyst and founder of W. McGinnis Advisors LLC in Milwaukee.
The panelists will discuss the factors that led to the American financial crisis, the policies needed to revive the economy and the most prudent strategies for investors in this turbulent time.
The Press Club presents the Newsmaker Luncheons monthly to shed light on issues of the day. The public is invited to attend the luncheons. The cost to attend is $15 for MPC members, $20 for non-members, $10 for students. Lunch is included. Pre-registration and advance payment is required and may be done online today at www.milwaukeepressclub.org.
Brady Corp. approves stock buyback plan
The board of directors of Milwaukee-based Brady Corp. recently authorized a share buyback program for up to 1 million additional shares of the company’s common stock.
The share repurchase plan may be implemented from time to time on the open market or in privately negotiated transactions, with repurchased shares available for use in connection with the company’s stock-based plans and for other corporate purposes.
"Brady’s continued strong cash flow provides us the flexibility to re-purchase shares opportunistically as markets allow, and reduce the dilutive effect of our equity-based incentive plans," said Brady chief financial officer Thomas Felmer.
Brady is an international manufacturer and marketer of complete solutions that identify and protect premises, products and people. Its products include high-performance labels and signs, safety devices, printing systems and software, and precision die-cut materials.
Middleton Doll Co. plans to deregister stock
The Middleton Doll Company’s board of directors has approved a plan to deregister the company’s common stock, thereby terminating its obligations to file reports with the U.S. Securities and Exchange Commission (SEC).
The transaction would be accomplished through a 1,000-to-1 reverse stock split of shares of the company’s common stock. All shareholders with less than one share after the reverse-split will have their partial shares cashed out at a price of 50 cents in cash per share on a pre-split basis. Shareholders with one or more shares after the reverse-split will continue as shareholders of the company, with any fractional share being rounded up to the next whole number of shares.
The proposed plan should result in a direct cost savings for the company in the near term because it no longer will be required to report to the SEC. Also, the plan will allow the company to avoid the substantial additional costs associated with the compliance and auditing requirements of the Sarbanes-Oxley Act.
The Middleton Doll Company currently operates in two segments, consumer products and financial services. The company’s consumer products segment is comprised of Lee Middleton Original Dolls Inc., a designer and marketer of lifelike collectible and play dolls, and License Products, Inc., which does business as FirsTime Manufactory, a designer and marketer of clocks and home decor products that are sold to major national retailers.
The company’s financial services segment is comprised primarily of the remaining assets of the lending and real estate leasing business of its former subsidiary, Bando McGlocklin Small Business Lending Corp., now owned by Lee Middleton Original Dolls. The company does not intend to continue in the financial services segment after the remaining financial services segment’s assets are sold.