Nationally, the potential obstacles to a full economic recovery are plentiful. They range from continued softness in the manufacturing, retail, high-tech, banking, airline and automotive sectors to rising unemployment, health care costs, energy costs and a possible war in Iraq.
Yet, nearly two-thirds of businesses surveyed by the Metropolitan Milwaukee Association of Commerce recently expect to see rising sales levels in 2003.
The optimism exists, even though Wisconsin’s health care costs and taxes are among the highest in the Midwest, and state and local governments are essentially broke.
After three consecutive horrid years on the stock market, are southeastern Wisconsin businesses merely whistling past the graveyard?
Only time will tell.
"The present economic recovery is likely to continue into the New Year, but has failed to give evidence of gathering momentum," noted Bret Mayborne, MMAC’s economic research director.
Underlying the optimism of local business people is a collective concern for a cadre of speed bumps in the road to economic growth: Will Wisconsin ever get a grip on its skyrocketing health care costs? Will the state be able to reduce its tax burden? What can be done to stem the loss of manufacturing work to China? How can Wisconsin companies deal with pressures to keep their prices down, while their costs are escalating?
Economic Trends 2003, this special section of Small Business Times, examines the near future of the local economy by tapping into the insights of various industry leaders.
Several of those insiders are scheduled to speak at the Northern Trust Economic Trends 2003 breakfast, Jan. 10 at The Country Inn in Waukesha.
The program is presented by the Independent Business Association (IBA) of Wisconsin and Small Business Times.
The speakers at the event include:
— Keynote speaker Michael Knetter, the dean of the University of Wisconsin in Madison School of Business.
— Steven Chamberlin, president of C.G. Schmidt Inc. Construction, Milwaukee.
— Ken Riesch, president and chief executive officer of R&R Insurance Services Inc., Waukesha.
— Jeffrey Reigle, president and CEO of Regal Ware Inc., Kewaskum.
— Clif Perryman, president, Milsco Manufacturing Co., Milwaukee.
— US Rep. Mark Green, (R-Green Bay).
The event is sponsored by Humana, Time Warner Telecom, von Briessen & Roper, and WISN-AM 1130.
The panel discussion is moderated by Small Business Times editor David Niles.
Jan. 10, 2003 Small Business Times, Milwaukee
