Another Busy Year for Bankruptcies

Bankruptcy filings jumped almost 30 percent in Wisconsin in 2009, on top of a 35 percent increase in filings in 2008. “Unemployment would absolutely be the No. 1 issue,” said Milwaukee-area bankruptcy attorney Robert Waud, who said his practice had its busiest year ever. Read the Milwaukee Journal Sentinel article.

Wells Fargo Touts Confidence in Customers

Breaking from the cautious, even downbeat forecasts of rivals like JPMorgan Chase & Co., Wells Fargo used words like “favorable” and “confidence” about its future amid tentative signs that its loan defaults are close to a peak or already have peaked. But banking analysts say that ongoing problems could still hold back recovery, according to the Milwaukee Journal Sentinel.

WBA Economic Forecast: Slow Growth Ahead

While the economy should grow at a rate of about 3 percent, most of the major gains to be had from the stock market rebound already have occurred, University of Wisconsin-Madison Business School Dean Michael Knetter told about 500 business people gathered for the annual Wisconsin Bankers Association (WBA) Economic Forecast Luncheon at the Monona Terrace Convention Center. Read more in the Milwaukee Journal Sentinel.

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Wisconsin State Journal
Milwaukee Business Journal
WisBusiness.com
Wisconsin Radio Network

Fed Economist to Speak at Ag Forum in Madison

The effect of the recession on Wisconsin’s agriculture community will be examined at a forum open to the public in Madison on Jan. 20. An economist with the Federal Reserve Bank of Chicago, ag economists and commodity specialists will be the featured speakers, according to a news release.

Rough Spots, But Recovery, Ahead

The Federal Reserve Bank of Minneapolis recently reported that the Upper Midwest should see a gradual economic recovery this year. “We’re slowly on the mend,” regional economist Toby Madden said. But bankers worry about commercial real estate – what Robert Cera of Baylake Bank in Sturgeon Bay, Wis., referred to as “the next shoe to drop.” Read more in the Green Bay Press-Gazette.

Wisconsin Businesses Optimistic for Year Ahead

Businesses in Milwaukee and Waukesha counties are optimistic about 2010, according to a new report released by First Business Bank. The report indicated 65 percent of 566 businesses in the two counties expect to do better in 2010. Read the story in the Small Business Times of Milwaukee or listen to a podcast from a panel discussion about the survey.

Business Survey Reflects Optimism

A majority of business owners are optimistic about 2010, according results of a survey released by First Business Bank at the invitation-only First Business Economic Forum. Read more at WisBusiness.com.

Economic Discussion Can Be Viewed Online

Results from the 2009 First Business Economic Survey will be released during a panel discussion in Waukesha on Dec. 15. Although registration is closed, those interested can still watch streaming video of the event at www.BizTimesChannel.com, the Small Business Times of Milwaukee reported.

‘Major Opportunities Exist’ for Banks

“Bank credit is still [an] engine of long-term growth in this economy. … Until banks have the capability begin making loans again, growth will be slowed. However, as with any decline in the industry, major opportunities exist for new banks to be formed or other types of investments to fill the role,” writes Dr. Phil Greenwood, CPA, in his blog. Greenwood provides management advisory and development services to middle market and early stage enterprises in the area of strategic planning, finance, and accounting and is a faculty member at the University of Wisconsin-Madison’s School of Business.

Economy makes getting a job quite a job

At 10.2 percent, the nation’s jobless rate is the highest since April 1983 and almost double the post-World War II average of 5.6 percent. (Unemployment peaked at 25 percent during the Great Depression.) Since the recent recession began two years ago, more than 8 million Americans � 5.2 percent of the labor force � have lost their jobs, writes columnist Tom Saler in the Milwaukee Journal Sentinel.