State Business Briefs: State business climate ranked 13thWisconsin Business
-- Wisconsin’s business climate is the 13th best in the nation. That’s according to a new survey published today by Site Selection magazine, which deals with corporate real estate strategies and economic development.
Wisconsin’s business climate is the 13th best in the nation. That’s according to a new survey published today by Site Selection magazine, which deals with corporate real estate strategies and economic development.
Editor Mark Arend said the Badger State made a big improvement recently. He said Wisconsin was not in the Top-25 for at least the last two years. The magazine rated North Carolina as the top state for businesses to locate. Ohio was second, followed by Texas, Georgia, and Virginia. The state are ranked according to their tax burdens, numbers of new-and-improved business facilities, and opinions from those who select locations for companies.
Two Wisconsin-based national retailers report higher sales than what outside analysts expected for October. Kohl’s Department Stores of Menomonee Falls reported that its same-store sales jumped three-point-three percent for the four weeks ending last Saturday. Researchers at Retail Metrics expected only an eight-tenths-percent increase. Kohl’s said its Midwest stores performed the best, and children’s clothing was most popular. Bon-Ton, which owns a number of chains including Boston Store and Younkers, had a three-point-seven percent gain in its same-store sales through last Saturday. That’s almost twice as much as the two-percent gain projected by Retail Metrics. Bon-Ton is based in Milwaukee and York Pennsylvania. Its CEO, Brendan Hoffman, said ladies’-and-mens’ outer-wear had double-digit sales hikes, as did shoes and dresses. The weakest categories were furniture, home items, and intimate apparel.
The Wisconsin Investment Board says financier Carl Icahn’s offer to acquire all the outstanding common shares of stock in the Oshkosh Corporation would undervalue the company and wouldn’t be in the best interest of its investors. The board has turned thumbs down on the proposed takeover. Icahn was offered 32 dollars, 50 cents per share. The investment board says shareholders would benefit more if management at Oshkosh continues to put changes into place. The situation has become a proxy fight. The board announced yesterday it won’t tender any of its Oshkosh shares to Icahn and it won’t vote for any of his nominees for the company’s board of directors.