Monday, April 29, 2013
Saturday, April 27, 2013
Weekend Reading
Why Not Worry About The Deficit Right Now?
The Great Tax Cut Experiment
Government Interest Expense on Debt Outstanding Relative to GDP
Best Craft Brew States In America
7. Wisconsin, 75 craft breweries
With a Major League Baseball team called the Brewers, it's a safe bet you'll find a good beer to drink in Wisconsin. Sure, Wisconsin's home to the likes of Pabst Blue Ribbon -- hardly a craft beer -- but you'll find a slice of microbrew heaven at Ale Asylum in Madison, Lakefront Brewery in Milwaukee and plenty more.
With a Major League Baseball team called the Brewers, it's a safe bet you'll find a good beer to drink in Wisconsin. Sure, Wisconsin's home to the likes of Pabst Blue Ribbon -- hardly a craft beer -- but you'll find a slice of microbrew heaven at Ale Asylum in Madison, Lakefront Brewery in Milwaukee and plenty more.
Thursday, April 25, 2013
Interstate Job Fraud
State and local governments waste billions of dollars each year on economic development subsidies given to companies for moving existing jobs from one state to another rather than focusing on the creation of truly new positions, according to a study released today by Good Jobs First, a non-profit, nonpartisan research center based in Washington, DC.
“What was long ago dubbed a Second War Between the States is, unfortunately, raging again in many parts of the country,” said Greg LeRoy, executive director of Good Jobs First and principal author of the report. “The result is a vast waste of taxpayer funds, paying for the geographic reshuffling of existing jobs rather than new business activity. By pretending that these jobs are new, public officials and the recipient companies engage in what amounts to interstate job fraud.” [Study: States Waste Billions Luring Jobs from Each Other]Good Jobs First report, The Job Creation Shell Game:
This study describes how state and local governments waste billions of dollars each year on economic development subsidies given to companies for moving existing jobs from one state to another rather. It also looks at how the existence of relocation subsidies emboldens some large companies to demand large job blackmail subsidies to stay put. The report offers policy recommendations to address the problem.For more on wasteful corporate subsidies, see Good Jobs First's Paying Taxes To The Boss:
As Americans file their state income tax returns this month, some may dislike paying taxes but most take heart from the fact that their dollars support public schools and colleges, roads and transit, health care and public safety. However, for some people, the personal income taxes they see deducted from their paychecks aren’t supporting public services. Indeed, this is true for workers at more than 2,700 companies in 16 states.
Nearly $700 million is getting diverted each year. And it is very unlikely that the affected workers are aware, given that no state requires that the diversion be disclosed on pay stubs.
Where is the money going? To the employers of those workers. A growing number of states are diverting revenue traditionally devoted to funding essential government services to pay for lavish subsidy awards to corporations for job creation or sometimes simply job retention. The practice of redirecting large portions of the state personal income tax (PIT) withholding deducted from paychecks means many workers are, in effect, paying taxes to their boss.
Along with the worker deception, many of the programs are entwined with two of the most controversial practices in economic development: the economic war among the states and job blackmail. Many PIT diversions are paying corporations to simply relocate existing jobs from one state to another; others are used by states when they capitulate to companies that threaten to move to another state.
Monday, April 22, 2013
Sunday, April 21, 2013
Selling Entrepreneurialism
With all this talk of entrepreneurialism as the savior for the Wisconsin economy, I thought it might be interesting to take a look at some Wisconsin companies - size, performance, etc. Wisconsin, especially for its size, is home to numerous renowned, global, and Fortune 500 companies. Many are older, well-known companies, but there are also many newer, up-and-coming businesses.
Opening new businesses for the sake of claiming whatever number of new businesses have opened doesn't mean much if the majority of those companies close within a year or two. Studies have shown that although Wisconsin may not create as many companies, the ones that are born here tend to last and grow better than those in many other states. "The numbers suggest that Wisconsin is doing well when it comes to nurturing those companies that do get launched there," Eric Thompson, a University of Nebraska researcher, said. "Your entrepreneurs tend to be good at staying in business."
Doug Henwood elaborates, "The small business myth is probably the most durable and pervasive of all. It holds appeal across the political spectrum, from corporate lobbyists trying to sell tax breaks to postmodern New Agers trying to sell their vision of decentralization and local self-reliance...Small firms pay less than large ones, are less likely to offer health, pension, or child care benefits, and are often more dangerous to workers. With few exceptions, they're not all that innovative technologically...37% of the labor force changes its employment status every year...new jobs do not sprout in the greatest numbers at either fresh start-ups or small firms...Smaller employers do generate plenty of jobs, but they also destroy them in great quantities. If you add together creation and destruction, no clear picture emerges."
We also shouldn't forget that Montana, Vermont, Alaska, New Mexico, Mississippi, Idaho, Louisiana, and Kentucky are often ranked near the top of entrepreneurial lists. Yet these are hardly the places most would think of in regards to start-ups, innovation and technology.
From CNN Money
The Top Companies in Wisconsin on the 2012 Inc. 5000
The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the Top 75 companies by revenue, as determined by a voluntary submission of a qualifications form.
Wisconsin has 9 companies on Forbes Global 2000 (the 2000 biggest companies in four metrics; sales, profits, assets and market value).
Opening new businesses for the sake of claiming whatever number of new businesses have opened doesn't mean much if the majority of those companies close within a year or two. Studies have shown that although Wisconsin may not create as many companies, the ones that are born here tend to last and grow better than those in many other states. "The numbers suggest that Wisconsin is doing well when it comes to nurturing those companies that do get launched there," Eric Thompson, a University of Nebraska researcher, said. "Your entrepreneurs tend to be good at staying in business."
Doug Henwood elaborates, "The small business myth is probably the most durable and pervasive of all. It holds appeal across the political spectrum, from corporate lobbyists trying to sell tax breaks to postmodern New Agers trying to sell their vision of decentralization and local self-reliance...Small firms pay less than large ones, are less likely to offer health, pension, or child care benefits, and are often more dangerous to workers. With few exceptions, they're not all that innovative technologically...37% of the labor force changes its employment status every year...new jobs do not sprout in the greatest numbers at either fresh start-ups or small firms...Smaller employers do generate plenty of jobs, but they also destroy them in great quantities. If you add together creation and destruction, no clear picture emerges."
We also shouldn't forget that Montana, Vermont, Alaska, New Mexico, Mississippi, Idaho, Louisiana, and Kentucky are often ranked near the top of entrepreneurial lists. Yet these are hardly the places most would think of in regards to start-ups, innovation and technology.
From CNN Money
Here's a list of Wisconsin's largest public companies: 1. Johnson Controls Inc. – Glendale, WI – www.johnsoncontrols.com 2. Manpower Inc. – Milwaukee, WI – www.us.manpower.com 3. Kohl’s Corp. – Menomonee Falls, WI – www.kohls.com 4. Oshkosh Corp. – Oshkosh, WI – www.oshkoshtruckcorporation.com 5. Harley‐Davidson Inc. – Milwaukee, WI – www.harley‐davidson.com 6. Rockwell Automation Inc. – Milwaukee, WI – www.rockwellautomation.com 7. Fiserv Inc. – Brookfield, WI – www.fiserv.com 8. Manitowoc Co. Inc. – Manitowoc, WI – www.manitowoc.com 9. Wisconsin Energy Corp. – Milwaukee, WI – www.wisconsinenergy.com 10. Marshall & Ilsley Corp. – Milwaukee, WI – www.micorp.com 11. Bemis Co. Inc. – Neenah, WI – www.bemis.com 12. Alliant Energy Corp. – Madison, WI – www.alliantenergy.com 13. Joy Global Inc. – Milwaukee, WI – www.joyglobal.com 14. Snap‐on Inc. – Pleasant Prairie, WI – www.snapon.com 15. Bucyrus International Inc. – South Milwaukee, WI – www.bucyrus.com 16. A.O. Smith Corp. – Milwaukee, WI – www.aosmith.com 17. Regal‐Beloit Corp. – Beloit, WI – www.regal‐beloit.com 18. Briggs & Stratton Corp. – Wauwatosa, WI – www.briggsandstratton.com 19. Plexus Corp. – Neenah, WI – www.plexus.com 20. MGIC Investment Corp. – Milwaukee, WI – www.mgic.com 21. Metavante Technologies Inc. – Brown Deer, WI – www.metavante.com 22. Actuant Corp. – Butler, WI – www.actuant.com 23. Brady Corp. – Milwaukee, WI – www.bradycorp.com 24. Associated Banc‐Corp – Green Bay, WI – www.associatedbank.com 25. Modine Manufacturing Co. – Racine, WI – www.modine.com 26. Sensient Technologies Corp. – Milwaukee, WI – www.sensient‐tech.com 27. Wausau Paper Corp. – Mosinee, WI – www.wausaupaper.com 28. School Specialty Inc. – Greenville, WI – www.schoolspecialty.com 29. Marten Transport Ltd. – Mondovi, WI – www.marten.com 30. MGE Energy Inc. –Madison, WI – www.mgeenergy.com 31. Journal Communications Inc. – Milwaukee, WI – www.journalcommunications.com 32. Ladish Co. Inc. – Cudahy, WI – www.ladishco.com 33. National Presto Industries Inc. – Eau Claire, WI – www.gopresto.com 34. Johnson Outdoors Inc. – Racine, WI – www.johnsonoutdoors.com 35. The Marcus Corp. – Milwaukee, WI – www.marcuscorp.com 36. Anchor BanCorp Wisconsin Inc. – Madison, WI – www.anchorbank.com 37. Twin Disc Inc. – Racine, WI – www.twindisc.com 38. Badger Meter Inc. – Brown Deer, WI – www.badgermeter.com 39. Great Wolf Resorts Inc. – Madison, WI – www.greatwolfresorts.com 40. Assisted Living Concepts Inc. – Menomonee Falls, WI – www.alcco.com 41. Weyco Group Inc. – Milwaukee, WI‐ www.weycogroup.com 42. TomoTherapy Inc. – Madison, WI – www.tomotherapy.com 43. Bank Mutual Corp. – Brown Deer, WI – www.bankmutualcorp.com 44. Strattec Security Corp. – Milwaukee, WI – www.strattec.com 45. Renaissance Learning Inc. – Wisconsin Rapids, WI – www.renlearn.com 46. Waterstone Financial Inc. – Wauwatosa, WI – www.wsbonline.com 47. Tufco Technologies Inc. – Green Bay, WI – www.tufco.com 48. Magnetek Inc. – Menomonee Falls, WI – www.magnetek.com 49. Orion Energy Systems Inc. – Manitowoc, WI – www.oriones.com 50. Baylake Corp. – Sturgeon Bay, WI – www.baylake.com
Here's a list of Wisconsin largest public and private employers:
|
The Top Companies in Wisconsin on the 2012 Inc. 5000
| RANK | COMPANY NAME | 3-YEAR % GROWTH | REVENUE (millions) | STATE |
|---|---|---|---|---|
| 79 | Dynamic Recycling | 3,530% | $7.1 million | WI |
| 398 | Quincy Bioscience | 937% | $12.7 million | WI |
| 544 | RevolutionEHR | 685% | $2 million | WI |
| 663 | Facility Gateway | 542% | $11.5 million | WI |
| 689 | Stella & Chewy's | 516% | $11.9 million | WI |
| 876 | Authenticom | 380% | $14.6 million | WI |
| 1019 | Commercial Bargains | 310% | $2.2 million | WI |
| 1131 | BizLab | 279% | $21.5 million | WI |
| 1251 | TRC Global Solutions | 247% | $25.2 million | WI |
| 1266 | Millennium | 243% | $28.1 million | WI |
| 1364 | Delta Media | 224% | $7.5 million | WI |
| 1506 | True Process | 197% | $7.8 million | WI |
| 1636 | Beyond The Office Door | 179% | $2.4 million | WI |
| 1692 | TMI Consulting | 170% | $3.2 million | WI |
| 1711 | Midwest Prototyping | 167% | $2.8 million | WI |
| 1753 | ESC Services | 163% | $3 million | WI |
| 1834 | Tim O'Brien Homes | 152% | $21 million | WI |
| 1959 | Forte Research Systems | 138% | $7.2 million | WI |
| 2048 | Heartland Business Systems | 129% | $135.7 million | WI |
| 2073 | Zeon Solutions | 127% | $9.1 million | WI |
| 2210 | SASid Insurance Development | 116% | $4.2 million | WI |
| 2225 | Solaris | 115% | $3.5 million | WI |
| 2550 | Centare | 95% | $10.3 million | WI |
| 2763 | Codeworks | 84% | $24.5 million | WI |
| 2877 | Networkers Funding | 79% | $3.3 million | WI |
| 2927 | Waukesha Metal Products | 76% | $27.3 million | WI |
| 2986 | JGear | 73% | $5.6 million | WI |
| 3038 | Elite Human Capital Group | 71% | $5.7 million | WI |
| 3215 | Batteries Plus | 64% | $164.8 million | WI |
| 3279 | Quest CE | 61% | $3.1 million | WI |
| 3339 | New Glarus Brewing | 58% | $26.4 million | WI |
| 3341 | ABC Supply | 58% | $4.6 billion | WI |
| 3405 | Campbellsport Building Supply | 56% | $57.2 million | WI |
| 3445 | New Resources Consulting | 55% | $16.7 million | WI |
| 3461 | First Edge Solutions | 55% | $9 million | WI |
| 3513 | Alpha Source | 53% | $18.6 million | WI |
| 3547 | Americollect | 52% | $6.8 million | WI |
| 3681 | Superior Support Resources | 47% | $5.3 million | WI |
| 3753 | Wireless Logic | 44% | $7.1 million | WI |
| 3763 | Synergy Consortium Services | 44% | $8.3 million | WI |
| 3788 | Ascential Service | 43% | $22.5 million | WI |
| 3794 | Doig | 43% | $12.1 million | WI |
| 3917 | OnCourse Learning | 39% | $24.4 million | WI |
| 4049 | DiscountRamps.com | 35% | $20.7 million | WI |
| 4087 | QPS Employment Group | 33% | $114.1 million | WI |
| 4121 | Symmetry | 32% | $12.2 million | WI |
| 4152 | TAPCO | 31% | $36.2 million | WI |
| 4154 | Batzner Pest Management | 31% | $9.1 million | WI |
| 4226 | Enviro-Safe Consulting | 29% | $2.9 million | WI |
| 4267 | Advanced Waste Services | 29% | $39.2 million | WI |
| 4303 | Standard Process | 27% | $124.4 million | WI |
| 4361 | Huberty & Associates | 26% | $3.4 million | WI |
| 4442 | Mantz Automation | 23% | $19.7 million | WI |
| 4475 | Prefinished Staining Products | 22% | $2.1 million | WI |
| 4487 | Jung Express | 22% | $9.3 million | WI |
| 4490 | Spectrum Industries | 22% | $29.9 million | WI |
| 4527 | Crystal Finishing Systems | 20% | $88 million | WI |
| 4577 | Goff's Enterprises | 19% | $6 million | WI |
| 4591 | Northwire - NWI Lab 360 | 19% | $47.9 million | WI |
| 4635 | InForm Product Development | 17% | $2.9 million | WI |
| 4659 | HUSCO International | 17% | $272.8 million | WI |
| 4743 | InPro | 13% | $93.4 million | WI |
| 4791 | Fi-Med Management | 12% | $6.4 million | WI |
| 4809 | Graphics Systems | 12% | $11.1 million | WI |
| 4872 | Seaway Printing Company | 9% | $5.1 million | WI |
| 4928 | Trident Contract Management | 8% | $8.8 million | WI |
| 4969 | Data Dimensions | 6% | $21.9 million | WI |
1. S.C. Johnson & Son Inc., Racine
2. U.S. Venture, Inc., Kimberly
3. Kohler Co., Kohler
4. ABC Supply Co. Inc, Beloit
5. Quad/Graphics, Sussex
6. Kwik Trip, Inc., La Crosse
7. Schneider National Inc., Green Bay
8. Ashley Furniture Industries, Inc., Arcadia
9. Sentry Insurance, Stevens Point
10. Uline, Pleasant Prairie
11. Menasha Corporation [1], Neenah
12. Charter Manufacturing Company Inc., Mequon
13. Green Bay Packaging Inc., Green Bay
14. Sargento Foods Inc., Plymouth
15. The DeLong Co. Inc., [4] Clinton
16. Robert W. Baird & Co., Milwaukee
17. Trek Bicycle Corporation, Waterloo
18. Appleton, Appleton
19. ACUITY, Sheboygan
20. Masters Gallery Foods, Inc., Plymouth
21. Johnsonville Sausage, LLC, Sheboygan Falls
22. Bergstrom Automotive, Neenah
23. West Bend Mutual Insurance Co., West Bend
24. Boucher Automotive Group, Greenfield
25. Greenheck Fan Corporation, Schofield
26. Miron Construction Co., Inc., Neenah
27. Rockline Industries Inc., Sheboygan
28. Lakeside Foods Inc., Manitowoc
29. Hydrite Chemical Co., Brookfield
30. Adelman Travel Group, Milwaukee
31. Windway Capital Corp., Sheboygan
32. The Boldt Company, Appleton
33. Husco International, Inc., Waukesha
34. Ewald Automotive Group, LLC, Milwaukee
35. J.P. Cullen & Sons, Inc., Janesville
36. Miller Compressing Company, Milwaukee
37. Edward H. Wolf & Sons, Inc., Slinger
38. Meridian Industries Inc., Milwaukee
39. JX Enterprises Inc., Pewaukee
40. Quality State Oil Co. Inc., Sheboygan
41. C.D. Smith Construction, Inc. *, Fond du Lac
42. Bauer Built Inc., Durand
43. Gehl Foods, Inc. *, Germantown
44. Werner Electric Supply Co., Neenah
45. First Supply LLC, Madison
46. Electronic Theatre Controls, Inc., Middleton
47. Palermo Villa, Inc., Milwaukee
48. Wausau Supply Company, Schofield
49. J.F. Ahern Co., Fond du Lac
50. Mayville Engineering Co. Inc., Mayville
51. Gustave A. Larson Company, Pewaukee
52. Gordon Flesch Company Inc., Madison
53. Everbrite, LLC, Greenfield
54. Hunzinger Construction Co., Brookfield
55. Serigraph Inc., West Bend
56. Herzing University, Milwaukee
57. Standard Process, Inc. [3], Palmyra
58. W.T. Walker Group, Inc., Milwaukee
59. Inland Power Group, Inc., Butler
60. Kolbe & Kolbe Millwork Co. Inc., Wausau
61. Placon Corporation, Fitchburg
62. QPS Employment Group, Brookfield
63. Derse, Inc., Milwaukee
64. Western States Envelope and Label, Butler
65. Baptista’s Bakery, Inc. *[2], Franklin
66. Zilber Ltd., Milwaukee
67. Miller-St. Nazianz, Inc., St. Nazianz
68. InPro Corporation * [5], Muskego
69. Badger Truck Center, Inc., Milwaukee
70. Holz Motors Inc., Hales Corners
71. Dental Associates, Wauwatosa
72. Engman-Taylor Company, Inc., Menomonee Falls
73. Eggers Industries, Two Rivers
74. Shorewest, Realtors, Brookfield
75. Super Steel LLC *, Milwaukee
Wisconsin has 9 companies on Forbes Global 2000 (the 2000 biggest companies in four metrics; sales, profits, assets and market value).