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Business Intelligence for the New North

‘Tis the season for integrating newly acquired and merged businesses. We profile a handful of recent corporate marriages from NE Wisconsin.

When business owners retire Financial Planning

BUY

Right to Work in WI Guest Commentary

SHAREHOLDERS CONSUMERS

February 2015 | $3.95

SELL

SHAREHOLDERS CONSUMERS

ACCOUNTING

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mergers acquisitions

SELL BUY

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STOCKS

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ACCOUNTING

Business Intelligence for the New North

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February Features 16 COVER STORY

Mergers and acquisitions

‘Tis the season for integrating newly acquired, merged businesses

20 INSURANCE

Insuring the Future

STOCKS

SELLInsuring

20

Center for Insurance and Risk Management helps fuel the next generation of insurance industry specialists

24 FINANCIAL PLANNING

When business owners retire

Financial planning and foresight critical to ensuring maximum value on your largest asset when retirement comes calling

30 HEALTH CARE

The Common Good

NE Wisconsin health care providers give better service by making sure the only overlap comes from bandages

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Departments 4

From the Publisher

6

Since We Last Met

10 Build Up Pages 29 Guest Commentary 34

Professionally Speaking

36 Who’s News 40 Business Calendar 41 Advertising Index 42 Key Statistics

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NNB2B | February 2015 | 3


From the Publisher

Shifting out of reverse

Fox Cities risk moving backward if Appleton City Council doesn’t approve land purchase for convention center An important lesson I’ve learned from 18 years of covering local government and two years serving as an elected official on the Oshkosh Common Council is that it just takes one decision to launch a community forward, or to send it back in time behind smaller, up-and-coming neighbors. I was reminded of this characteristic of local politics in January when Appleton’s City Council rejected a plan to purchase a downtown parking lot owned by Outagamie County for the purpose of constructing much needed convention space. The plan hardly caught council members by surprise. After nearly five years of high-profile discussion among various Fox Cities leaders, there had appeared to be consensus across the community both for support of such a convention center as well as the proposed funding model to build it. Contingencies were built into the land purchase agreement to ensure minimal risk to city taxpayers in the event other neighboring communities didn’t approve a 2 percent room tax increase to help fund the project, or in the event the public-private partnership driving the expo center construction couldn’t strike a deal with the adjacent Radisson Paper Valley Hotel to operate the facility. The city included the full $2 million sticker price in its 2014 capital budget to purchase the property – and when that transaction didn’t occur in time – rolled the funds over into the 2015 budget. It’s a well-thought out, safe and sensible decision to make to enhance the economic vitality of downtown Appleton. But the Appleton Common Council’s surprise decision in early January erupted from no visible controversy surrounding the project, as well as no explanation from dissenting council members why they didn’t support it. It’s a decision that could push Appleton and the Fox Cities backward as other northeast Wisconsin communities upgrade their convention facilities to become more competitive in the state meetings market. Fortunately, a subsequent council vote later in January gave the matter some needed life support as elected officials voted to reconsider the matter, sending it back to the city’s Community and Economic Development Committee for further examination. A supportive recommendation from that group – fully composed of council members – and a subsequent affirmative vote from the council could still 4 | February 2015 | NNB2B

enable some progress on this effort during 2015. The projected economic impact of the more than $20 million expo center speaks for itself. Providing an estimated $6.5 million into the local economy annually – an estimate that’s assuredly conservative – fuels everything from downtown Appleton drinking and eating establishments to hotels, potential new development and property tax base across the region. The prospect of the exposition center helped sell ethnic festival organizer Matt Miller and his partners to purchase McGuinness Irish Pub as of this past Jan. 1. The popular downtown Appleton establishment is located cornerwise from the proposed location for the expo center development off of Lawrence Street behind the Paper Valley Hotel. Miller acknowledges the prospect of a new convention center played a significant role in his partners’ due diligence.

After nearly five years of highprofile discussion ... there had appeared to be consensus across the community both for support of such a convention center as well as the proposed funding model ... “There’s no question that the convention center discussion was a supporting factor in buying the business,” Miller said, noting some disappointment in the council’s decision so soon after becoming a new business owner. “It was surprising more than anything. I don’t think there was any belief that this wasn’t going to be approved.” Miller wouldn’t say whether any similar council decision prior to the completion of his business transaction would have sunk the deal to buy the popular Irish pub and restaurant – and fortunately he doesn’t have to consider such a prospect. But who knows how many other business owners in downtown Appleton – current or prospective – put the brakes on further investment in their enterprises until there’s more resolution on the fate of the expo center. It illustrates the fragile economic ecosystem that can be irrevocably impacted by seemingly simple decisions from local elected officials. It’s a significant responsibility of which to be cognizant, and certainly not one assumed recklessly, lest that elected official is willing to send their community back in time.

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Sean Fitzgerald Publisher & President x sean@newnorthb2b.com Carrie Rule Sales Manager x carrie@newnorthb2b.com Kate Erbach Production Contributing writers Rick Berg J. S. Decker Lee Marie Reinsch Chief Financial Officer Vicky Fitzgerald, CPA

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1call2build.com ARCHITECTURE I FUNDINGNNB2B I CONSTRUCTION I SERVICE | February 2015 | 5


Since We Last Met

Since We Last Met

Since We Last Met is a digest of business related news occurring in the Greater Green Bay, Fox Cities, Oshkosh and Fond du Lac areas in the one month since the previous issue of New North B2B.

December 22 Pacon Corp. in Appleton was awarded up to $484,000 in state job creation tax credits from Wisconsin Economic Development Corp. to help with its $8 million plant renovation and equipment purchase project which could add almost 60 new jobs in the Fox Valley. The provider of school supplies and educational aids is also spending $700,000 on workforce training during the coming year to upgrade the skills of its 500 employees. December 26 Residents of the Town of Menasha began circulating a petition to incorporate into a village, the first step in launching the formal incorporation process. Organizers of the incorporation initiative plan to submit the petition to the Winnebago County Circuit Court in April, which would then set the stage for a state Department of Administration review. The town of Menasha is the second largest unincorporated

town in Wisconsin behind Grand Chute, with an estimated population of more than 18,000. Nearly 11,000 residents live in the area targeted for incorporation, which would ultimately require referendum approval by property owners in that area on the town’s west side. The town provided $85,000 in its 2015 budget to fund the incorporation process. January 6 The board of directors for Moraine Park Technical College in Fond du Lac appointed Bonnie Baerwald, the college’s vice president of finance and administrative services, as its interim president following the mid-December announcement from Sheila Ruhland that she accepted a job in Tacoma, Wash. A certified public accountant, Baerwald joined Moraine Park in 1993 after working as a senior auditor at the public accounting firm Grant Thornton LLP in Fond du Lac. She’s served in a variety of financial roles within the college during the past 21 years.

2007 February 6 – Neenah Paper, Inc. announced it would acquire Fox Valley Corp., which owns Fox River Paper Company in Greenville, a leading domestic producer of premium fine papers. 2003 February 14 – The Wisconsin Association of Realtors announced the resale market for homes in 2002 was the strongest in history. There were 109,000 total existing home sales for the year and a 5.7 percent jump in median price to $134,300, according to the association’s data. 2005 February 4 – The City of Neenah received a $500,000 state Brownfields grant to clean up a contaminated site downtown for Alta Resources Corp. to expand. The total investment for this project is $31.4 million 2006 February 1 – VF Partners of Appleton purchased the Valley Fair Mall from Youth Futures for $2.3 million, with the intent to raze the mall to make room for a Copps Food Center.

6 | February 2015 | NNB2B

2010 February 4 – The Fond du Lac Arts Council was awarded a $30,000 Community Impact Grant by the Fond du Lac Area Foundation to plan a proposed downtown Arts, Education and Entertainment District. A consulting firm retained by the arts council will prepare a comprehensive vision for the district, which includes retail shops, restaurants, a hotel and cultural attractions on and within a few blocks of Main Street in the heart of Fond du Lac’s downtown. 2013 February 20 – Green Bay Mayor Jim Schmitt reported the governor pledged $2 million from the state’s upcoming 2013-15 capital budget toward the proposed expansion of the KI Convention Center downtown. The project is adding more than 30,000 square feet to the existing 44,000-sq. ft. facility.

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January 7 The City of Appleton Common Council turned down an opportunity to purchase land owned by Outagamie County on which a public-private partnership would construct the proposed Fox Cities Exhibition Center. The 8-to-6 vote against spending $2 million already budgeted for the property downtown adjacent to Radisson Paper Valley Hotel means proponents of an exhibition center may need to look elsewhere to construct the more than $20 million facility, which would allow the Fox Cities to attract larger conventions than it currently can accommodate. The day following the council’s decision, Outagamie County Executive Tom Nelson presented a counter offer to sell the property to the city for $1 in exchange for an agreement to build a parking structure for county employees. That offer was still under consideration as of B2B’s press deadline for this edition. January 7 JC Penney announced plans to close its Oshkosh store in April, effectively laying off 79 employees. The company also announced it would close its department store in Racine. The state Department of Workforce Development is preparing staff from the Fox Valley Workforce Development Board to deliver job search, career planning and resume assistance as well as job training to affected workers. January 7 A $10 million multi-family housing project to redevelop a more than 100-year-old former woolen mill on the banks of the Fox River near downtown Appleton was set back when the city’s common council rejected a request to rezone the two-acre property by a 9-to-6 vote. Oshkosh developers Andy Dumke and Cal Schultz proposed a 60-unit apartment complex called Woolen Mills Lofts in an area known as the industrial flats below the downtown. Though the project was endorsed by the city’s plan commission, council members voting against the project cited concerns regarding pedestrian safety, limited parking and limited greenspace. January 9 The U.S. Department of Labor reported 252,000 new jobs were created in December, dropping the national unemployment rate to 5.6 percent. Job gains occurred in professional and business services, construction, food services and drinking places, health care and manufacturing. For the entire 2014 fiscal year, nearly 3 million jobs were created nationwide, the highest amount of job growth since 2001. January 10 HSHS St. Mary’s Hospital Medical Center on Green Bay’s west side closed for nearly 24 hours after a water main break began flooding the basement boiler room, shutting the boilers down and leading to a loss of heating capabilities. Emergency room visitors were re-routed and about 50 patients were

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NNB2B | February 2015 | 7


Since We Last Met

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transferred to HSHS St. Vincent Hospital on the east side of the Fox River in Green Bay. St. Mary’s reopened the following morning. January 13 The Port of Green Bay reported 2014 shipping season total cargo of 2.3 million metric tons, a 3 percent increase from 2013 totals. Substantial materials shipment increases during 2014 occurred with petroleum coke, limestone and other petroleum products including ethanol, diesel and gasoline. Port officials projected coal shipments could decrease by 24 to 40 percent during the 2015 shipping season, primarily because Georgia-Pacific Corp. implemented a new natural gas-fired boiler for its manufacturing facilities in Green Bay, replacing older coal-fired boilers. January 14 The board of trustees for Northeast Wisconsin Technical College approved an April 7 referendum asking property owners in the district to borrow $66.5 million to expand and renovate campuses in Green Bay, Marinette and Sturgeon Bay. An estimated $53.5 million would be used for the Green Bay campus to enhance facilities and equipment for its IT, manufacturing, digital arts, business, public safety and construction programs. About $10 million is earmarked for the Marinette campus and an additional $3 million for the Sturgeon Bay campus, both to expand its manufacturing and health field programs. The annual property tax impact of approving the referendum would increase the district’s mil rate by an additional 5 cents, or an increase of $5 for every $100,000 of equalized property value. January 15 4imprint Inc. in Oshkosh was awarded up to $1 million in state economic development tax credits as part of a $10.8 million expansion project. The 100,000-sq. ft. addition to its distribution center and a separate 25,000-sq. ft. expansion of its downtown corporate headquarters will allow the direct marketer of promotional products to create as many as 150 new jobs. Both expansion projects should be completed this summer. The tax credits from Wisconsin Economic Development Corp. will be paid out over the next three years based upon the actual number of jobs created. January 15 Mid Valley Industries in Kaukauna informed the state Department of Workforce Development that it might possibly close its operations in March if the company is not sold through receivership proceedings. Closure of the metal fabricator of precision parts to manufacturers in the defense, energy, marine and paper industries would effectively lay off 110 employees. State Workforce Development is preparing staff from the Bay Area Workforce Development Board to deliver job search, career planning and resume assistance as well as job training to affected workers. n

8 | February 2015 | NNB2B

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NNB2B | February 2015 | 9


Build Up Fond du Lac

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Build Up

Indicates a new listing

Fond du Lac 1 - 859 W. Johnson St., Fond du Lac Panda Express, a new restaurant building. Project completion expected in February. 2 - 77 N. Pioneer Road, Fond du Lac Hampton Inn, a three-story, 73-room hotel facility. 3 - 625 W. Rolling Meadows Dr., Fond du Lac

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4 - 55 Holiday Lane, Fond du Lac Holiday Inn Express, an 86-room hotel facility. 5 - 300 Block of Camelot Dr., Fond du Lac Grande Cheese Company, an 87,000-sq. ft. new corporate headquarters and research center. Project completion expected in early 2016.

Holiday Inn, a nearly 5,000-sq. ft. addition to the existing conference and banquet facility. Project completion expected in May.

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9 2 0 . 7 3 3 . 3 1 3 6 y 866.966.3928 y www.newbt.org 10 | February 2015 | NNB2B

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Build Up Oshkosh

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Oshkosh 6 - 3500 N. Main St., Oshkosh Bemis Healthcare Packaging, a 162,790-sq. ft. addition to the existing manufacting facility and office complex. Project completion expected in late fall. 7 - 1522 S. Koeller St., Oshkosh Ross Dress for Less and Sports Authority, a 37,000-sq. ft. retail center. Project completion expected in July. General contractor is Bayland Buildings of Green Bay.

9 - 1705 S. Washburn St., Oshkosh FloorQuest, a multi-tenant retail building to include a flooring store. Projects completed since our January issue: • Ultratech Tool & Design Inc., 210 W. Scott St., Fond du Lac. • Agnesian Healthcare Dialysis, 305 Camelot Dr., Fond du Lac. • Tube Fabrication & Color, 2601 Badger Ave., Oshkosh.

8 - 1560 S. Koeller St., Oshkosh Noodles & Company, a 5,200-sq. ft. multi-tenant retail center to include a restaurant. Project completion expected in June. General contractor is Bayland Buildings of Green Bay.

www.newnorthb2b.com

NNB2B | February 2015 | 11


Build Up Fox Cities Build Up

Fox Cities

Indicates a new listing 1 - 719 Industrial Park Ave., Hortonville Piping Systems Inc., a 65,000-sq. ft. addition to the existing industrial facility. Project completion expected in spring. 2 - N1043 Craftsmen Dr., Greenville F.C. Dadson, a 38,500-sq. ft. addition to the existing industrial warehouse. Project completion expected in February. General contractor is Keller Inc. of Kaukauna. 3 - 2925 Victory Lane, town of Grand Chute Bergstrom Automotive Used Car Supercenter, a 42,474-sq. ft. body shop and car dealership office. Project completion expected in February. 4 - intersection County Road BB & Casaloma Dr., town of Grand Chute Werner Electric Supply Co., a 250,000-sq. ft. corporate office and distribution center. Project completion expected in late fall. General contractor is Consolidated Construction Company of Appleton. 5 - 4001 W. Spencer St., town of Grand Chute Bay Area Granite & Marble, a 5,250-sq. ft. showroom and office. Project completion in February. General contractor is James J. Calmes & Sons Construction of Kaukauna. 6 - 3920 W. Spencer St., town of Grand Chute Grand Chute Fire Station No. 2, a new fire station. 7 - 2445 W. College Ave., town of Grand Chute Bergstrom Kia, a 23,064-sq. ft. new automotive dealership. 8 - 1818 N. Meade St., Appleton Appleton Medical Center, a two-story, 7,500-sq. ft. addition to the existing hospital for a hybrid operating room. 9 - 3925 Gateway Dr., Appleton Fox Valley Hematology & Oncology, a 60,000-sq. ft. cancer treatment facility. Project completion expected in summer. 10 - 1735 Nixon St., Little Chute Shapes Unlimited, a 31,430-sq. ft. addition to the existing industrial facility. 11 - 1200 Maloney Road, Kaukauna Team Industries, a 29,140-sq. ft. addition to the existing industrial facility. Project completion expected in February. General contractor is Keller Inc. of Kaukauna. 12 - 3200 E. Calumet St., Appleton Auto Zone, a new commercial retail building. 13 - W5298 State Road 114, Harrison Countryside Auto Transport, a 7,260-sq. ft. addition to the existing service center. Project completion expected in February. General contractor is James J. Calmes & Sons Construction of Kaukauna. 14 - N8770 County Road LP, Harrison Lake Park Sportzone, a 32,000-sq. ft. indoor athletic facility to include basketball and volleyball courts. Project completion expected in February. 15 - 420 7th St., Menasha Menasha High School, two separate additions totaling 46,603 square feet of educational space, as well as interior renovations to the gym, locker rooms and swimming pool. Project completion expected in summer.

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16 - 600 Racine St., Menasha Boys & Girls Club of Menasha, a 33,000-sq. ft. community center for children. Project completion expected in May. 17 - 116 Main St., Menasha Menasha Senior Center, an addition to the existing community center.

Projects completed since our January issue: • Exclusive CPA, 930 Evergreen Dr., Kaukauna. • Kwik Trip, 1101 Gertrude St., Kaukauna. • Kwik Trip, 222 Lawe St., Kaukauna.

18 - 1050 Zephyr Dr., town of Menasha St. Mary Central Middle School, a new educational facility. Project completion expected in June. 19 - 916 Byrd Ave., Neenah Cross & Oberlie/Aquecs Inc., a 4,940-sq. ft. addition to the existing industrial facility.

www.newnorthb2b.com

NNB2B | February 2015 | 13


Build Up Greater Green Bay area 1&2

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Greater Green Bay area 1 - 2700 Lineville Road, Howard Lineville Intermediate School/Howard-Suamico Schools, an indoor swimming facility. Project completion expected in June. 2 - 2455 Lineville Road, Howard Zesty’s Frozen Custard & Grill, a new commercial restaurant building. Project completion expected in February. 3 - 1010 S. Military Ave., Green Bay Broadway Pre-Owned, Broadway Hyundai and Broadway Ford, three separate dealership facilities.

14 | February 2015 | NNB2B

Indicates a new listing

4 - 857 School Pl., Green Bay Bay Valley Foods, a 25,000-sq. ft. addition and remodel of the existing manufacturing facility. Project completion expected in May. General contractor is Consolidated Construction Company of Appleton. 5 - 301 E. Main St., Green Bay KI Convention Center, a 30,000-sq. ft. addition to the existing convention center facility. Project completion expected in summer.

www.newnorthb2b.com


6 - 100 E. Main St., Green Bay CityDeck Landing, a six-story, mixed-use development to include 76 residential units and 7,000 square feet of retail space on the first floor.

17 - 2000 American Blvd., De Pere a new commercial office building.

7 - 110 S. Adams St., Green Bay Initiative One, a complete refurbishment of the 10,500-sq. ft. former commercial space for new offices.

18 - 100 Grant St., De Pere St. Norbert College Gehl-Mulva Science Center, a 150,000sq. ft. education and research facility to house the Medical College of Wisconsin’s Green Bay campus. Project completion expected in spring.

8 - 617 S. Roosevelt St., Green Bay Bellin Home Care Equipment, a 5,400-sq. ft. addition and interior remodel of the existing retail facility.

19 - 1850 Enterprise Dr., De Pere ARMS Inc., a 20,500-sq. ft. addition to the existing warehouse for storage and offices. Project completion expected in May.

9 - 1820 Main St., Green Bay Fox Communities Credit Union, a new financial institution branch office. Project completion expected in May.

Projects completed since our January issue: • Culver’s Restaurant, 11820 Velp Ave., Suamico. • Bellin Health, 2714 Riverview Dr., Howard. • Lakeland College, 2601 Development Dr., Bellevue. • Astro Industries, 810 Parkview Road, Ashwaubenon. • Farm Products, 825 Pamela St., Wrightstown.

10 - 840 S. Huron Road, Green Bay Kwik Trip, a 500-sq. ft. addition and remodel of the existing convenience store and fuel station. Project completion expected in February. 11 - 1160 Kepler Dr., Green Bay Aurora Baycare Orthopedic & Sports Medicine Center, an addition to the existing orthopedic clinic for new offices. 12 - 839 Lombardi Ave., Green Bay Bank of Luxemburg, an 11,444-sq. ft. office building. 13 - 2077 Airport Dr., Ashwaubenon Austin Straubel International Airport, an extensive renovation of an existing 6,098-sq. ft. building to accommodate U.S. Customs operations. 14 - 2626 S. Oneida St., Ashwaubenon Mattress Firm, a 7,767-sq. ft. commercial retail building. 15 - 1333 Parkview Road, Ashwaubenon Fosber America, an addition to the existing manufacturing facility. General contractor is Bayland Buildings of Green Bay. 16 - 506 Butler St., De Pere De Pere Christian Outreach, a 5,116-sq. ft. addition to the existing retail store. Project completion expected in summer. General contractor is Keller Inc. of Kaukauna.

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NNB2B | February 2015 | 15


Cover Story

BUY

SHAREHOLDERS CONSUMERS

ACCOUNTING

SELL

‘Tis the season for integrating newly acquired, merged businesses Story by Sean Fitzgerald, New North B2B publisher

The end of the calendar year is often fraught with merger and acquisition activity as businesses scramble to complete transactions before Dec. 31.

&

STOCKS

Finding the right company to buy or the right partner to marry should be pursued with the same courting as any long lasting, successful marriage between two people. Reasons vary for bringing together two or more companies – whether through acquisition or through a merger of equals – including displacing a competitor from the market, gaining geographical footprint, acquiring new technologies or buying the ability to sell complementary products or services, said Scott Bushkie, a 16-year veteran business broker and owner of Cornerstone Business Services in Green Bay.

While Bushkie and his team work with both buyers and sellers, the vast majority of the more than 200 business deals he estimates brokering have been for business owners looking to divest themselves of their company and liquidate what oftentimes is their greatest asset. Sellers are plenty at the present time, creating a climate in which buyers can often leverage to their advantage. “Businesses looking to grow by buying a smaller company should be in pretty good shape because there’s a lot of Baby Boomers (business owners) out there looking to retire,” Bushkie said. Such transactions are often highly emotional for the sellers, who incorporate much of their personal wealth and associate much of their career definition into the business, Bushkie indicated, particularly in cases in which the selling entrepreneur started the company.

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“Many business owners’ identities are tied into the company, and they’re concerned about how to break from that identity,” he said. And while such transactions are often an exciting time for the buyer, seller and the parties coming together as equals, the process of the buyout or merger is hardly finished once the ink dries on all necessary legal documents. “That’s not the time to relax,” said Bushkie, who noted the integration strategy in the next six months following any merger or acquisition is crucial for the success of the corporate union. As follows, we profile a handful of recently completed business marriages from northeast Wisconsin, each which came in different shapes, sizes and flavors from one another. The leadership from each company shares the steps they took to prepare for the merger or acquisition, as well as their plans moving forward as a larger and stronger organization.

A “collaborative merger”

Mergers often occur quietly among few top-level executives until a final decision is made and the news is sprung upon employees and ultimately to customers. But nearly the opposite occurred with the unique merger between Oshkosh-based CitizensFirst, Neenah-based Lakeview and Brillion-based Best Advantage credit unions during 2014. The merger process was front-end loaded with due diligence, information and communication among 17 various crossfunctional employee teams who evaluated every aspect of financial institution matrimony from loans and deposits to benefits, wellness and culture. An estimated more than 1,300 hours of those meetings and various communications occurred during the latter part of 2013 before the intent to merge was formally announced in January 2014, said CitizensFirst President and CEO Kevin Ralofsky. While not the traditional sort of due diligence performed up front – such tasks are usually relegated as post-merger integration activities – the hours of meetings and collaboration beforehand allowed employees from all three organizations to break down every process to analyze, design and structure effective policies and practices for a combined financial institution. “We wanted to make sure we were checking off all the boxes before getting our organizations together,” Ralofsky said, indicating it wasn’t necessarily the easiest path to pursue, but it helped engender trust among all three organizations. “The way we did it was truly harder than forcing a square peg into a round hole.”

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Having essentially rewritten the employee handbook by borrowing the best practices from each of the three credit unions, the merger – which ultimately was finalized last May – was a merger in the truest sense of the term. The new board of directors is a combination of the boards from each three separate credit unions; all branch offices remained open; and nearly all employees were able to maintain their jobs if they were on board with the combined credit union’s newly defined values. “This isn’t an end game. It’s the building blocks for what’s to come,” Ralofsky said during a mid-January interview with B2B. A few days later, the credit union announced another similar collaborative merger, this time with La Crosse-based Community Credit Union. Once the merger with Community Credit Union is officially consummated in the next few months, the single credit union will sport combined assets of more than $710 million, 14 branch offices, and nearly 240 employees across the entire organization. With an increasingly complex regulatory environment and a consistent demand to upgrade multimillion dollar technology, it’s become more challenging than ever before to remain small in the financial services industry and continue to effectively service customers. Moving forward, the merged credit union adopted what it calls “patch values” that incorporate the Seven Cooperative Principles laid out by Rochdale Society in 1844 and acknowledged by cooperatives worldwide. It’s completely overhauled the manner in which it conducts staff learning and development, and Ralofsky said the credit union hires new employees differently than ever before, now boasting one interview for every 10 job applicants. With a recent annual rate of growth of 8 percent a year, Ralofsky believes other credit unions will proactively approach the collaboratively merged credit union – which is announcing a name change later in February – with a desire to get on board, just as did Community Credit Union. “We’re always looking to grow into new markets,” he said. “We’re hanging out our shingle to let others know we’re (growing and combining resources) in a different way.”

“The way we (pursued the merger) was truly harder than forcing a square peg into a round hole.” Kevin Ralofsky, president and CEO, CitizensFirst Credit Union www.newnorthb2b.com

NNB2B | February 2015 | 17


Cover Story The traditional acquisition Ashwaubenon-based Heyrman Printing wasn’t new to the practice of buying another printer when it acquired DC Printing in Sturgeon Bay this past December. In the latter part of 2013, the company purchased Green Bay Blue, a neighboring company just a few blocks down Holmgren Way from its facility, said Andy Heyrman, a fourth generation coowner of the printing company along with his father. Mergers and acquisitions are common in the printing industry, where smaller outfits are hard pressed to survive for the long term without acquiring someone else or being acquired. Heyrman said he took advice from a printing industry mentor that’s offered him bigger picture perspective since he stepped into an ownership role a little over a year ago. “When you look at doing an acquisition (in the printing industry), it’s a sales play, it’s a technology play, and it’s an equipment play,” Heyrman said. Heyrman Printing captured all three when it bought out the two owners of DC Printing late in 2014, expanding their footprint into the Door County market, where the tourism industry drives printing for everything from restaurant menus and lodging brochures to outdoor banners and specialty publications. The two previous owners remain on board as employees, which aligns with Heyrman’s strategy for integrating companies following the acquisition. “We try not to change much, knowing that each company has

its own way of doing things and its own culture,” Heyrman said, noting that they took a year to integrate Green Bay Blue operations fully into their own. Now with a total of three facilities, the company needs to balance its human resource practices across different cultures to ensure customer transactions with the printer remain seamless. With a number of printers in the marketplace preparing to sell in the next few years, Heyrman didn’t necessarily indicate his firm is in an acquisition mode, but if the right set of circumstances presented themselves, Heyrman said the 84-year-old company started by his great-grandfather could examine further growth. “We’re always open to talking, and if the right opportunity comes along, we’ll certainly consider it,” Heyrman said.

Employees taking over

Sometimes, the owner of the business wants to divest themselves of the asset, and the ideal buyers are those on the payroll. That’s particularly the case when the owner isn’t involved in the day-to-day operations of the business. This past October, Primadata President Mike Mapes heard from the company’s owners in Nashville that they planned to divest themselves of the Ashwaubenon-based variable data printing and mailing firm after they received an offer to sell the remainder of their company to a manufacturer of plastic gift, credit and debit cards. That buyer wasn’t interested in including the Primadata operations in its acquisition. Primadata’s owners approached Mapes about the possibility

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of putting together an equity group to take over the company, adding that they intended to divest themselves of it one way or another. “We knew at some point in the next two years they were going to sell us to another printer or merge us with someone else,” said Mapes, who served as the chief operating officer at the time.

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Mapes knew his team wanted to keep the company intact. It experienced strong double-digit sales increases from the previous year, as well as a substantial increase in profitability. “We had a strong rebuilding of our reputation among our past customers” Mapes said of Primadata’s recent success. And those aspects of the business were poised to grow further. Mapes teamed up with Steve Hurning, the company’s chief financial officer, and production manager Justin Barber, who’d been with Primadata for seven years. Mapes admits the three partners had little due diligence to scrutinize. The team already ran the 20-employee business on their own for the past two years, and were familiar with the clients, the equipment and the company’s debt service and financial position. The bit of diligence they did conduct was to work with an attorney to draft a partnership agreement among the three co-workers and to set up a buy-sell agreement with the sellers. Fortunately for the benefit of the entire transaction, the sellers were willing to finance the deal for five years at terms all parties found fair. “We put this together much quicker that way. It would have taken much more time if we had to seek other means of financing,” Mapes said. “They wanted to put us in a position to be as successful as possible. They want us to be able to repay the note, and they want us to be sustainable for the long term.” Ultimately, the acquisition – which consummated in December – was about as ideal of a process as could be transacted. Mapes attributed the successful transaction to the high level of comfort and substantial trust among the three buying partners and the seller. Looking ahead into the first few months of new ownership, Mapes emphasized effort will be placed on communicating to employees, customers and vendors that not much will change from the manner in which business has been conducted in the past. n www.newnorthb2b.com

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Insurance

Insuring

Center for Insurance and Risk Management helps fuel the next generation of insurance industry specialists Story by Rick Berg

For an industry steeped in actuarial data, the numbers are sobering: Every seven seconds, a Baby Boomer turns 60. Within the next 15 years, 50 percent or more of the insurance industry workforce will retire. In Wisconsin alone, that means more than 40,000 actuaries, underwriters and other insurance industry personnel will need to be replaced. In addition, the U.S. Department of Labor projects that insurance industry staffing needs will grow by more than 20 percent by 2020. All that adds up to a potentially crippling shortfall in staffing needs for an industry that contributes about 5 percent – more than $12 billion – to Wisconsin’s gross state product. For a state that ranks among the top 5 nationally in the number of insurance companies and employment, those numbers can’t be ignored. This doesn’t come as breaking news to insurance industry executives in the New North, home to several of the largest insurance companies in the state, including Secura Insurance in Appleton, Jewelers Mutual in Neenah, Society Insurance in Fond du Lac and Thrivent Financial in Appleton, among others. They have seen the personnel shortfall coming for years. Along with staff from New North Inc., they began 20 | February 2015 | NNB2B

discussing ways to fill the talent gap almost a decade ago. “Secura has had a long history of wanting UW-Oshkosh to create an insurance-related program,” said Garth Wicinsky, vice president of human resources at Secura. “Knowing how much of an economic impact the industry has in Wisconsin, coupled with the fact that the industry provides very good careers, we approached former UW-Oshkosh Chancellor Richard Wells years ago to sell him on the value of an insurance program.” Wells and other educators at the University of WisconsinOshkosh were listening. Starting in 2008, with finance professor Scott Beyer helping to lead the way, the university created the Center for Risk Management and Insurance. The Center is supported by Secura, Jewelers Mutual, Society Insurance and Thrivent, as well as Sentry Insurance in Stevens Point and Church Mutual in Merrill. Those six companies provide financial support and also serve as an advisory council.

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Rapid growth

The first class of 12 students enrolled in the center’s insurance and risk management program in 2009. The program has grown rapidly, with 136 students enrolled since 2009. The 2014-15 academic year has seen the most rapid growth, with 34 new students enrolled. “The trend has definitely been upward,” said Beyer, who now serves as executive director of the center. “There’s such a universe of career opportunities because of all the people in the industry retiring and so many of those positions not being backfilled.” To help meet the growing demand, the university added industry veteran Daniel Kugler last year to help lead the program. Kugler retired after 35 years in risk management at Snap-On Inc. to serve as director for the center. Kugler had already been involved in risk management education through his work over the past 15 years as risk-manager in residence with the Spencer Foundation, and as an adjunct professor at Concordia University. It was at a Spencer Foundation function that Beyer and Kugler connected. “I wasn’t looking for another opportunity because I enjoyed my work at Snap-On and at the foundation, but this seemed to be the next logical step,” Kugler said.

Insurance industry skills gap 9 U.S. Department of Commerce data show the insurance industry provided 81,086 jobs in Wisconsin in 2013. The Wisconsin insurance industry accounted for about $5.6 billion in compensation in 2013. 9 The insurance industry contributed $12.2 billion to the Wisconsin gross state product in 2011, accounting for 4.8 percent of the state GSP. 9 10,000 Baby Boomers a day are turning 65 and becoming eligible for full Social Security benefits. 9 Every seven seconds a Baby Boomer turns 60. According to analysis by the St. John’s University School of Risk Management, this means within the next 15 years, some 50 percent of the insurance industry employment will turn over. Half of the industry’s talent pool will be gone. 9 2014 U.S. Insurance Labor Outlook Study indicated actuarial, technology and underwriting jobs are some of the top roles that insurance carriers will need to fill. 9 Overall employment picture for insurance related occupations looks better than other industries. The unemployment rate in the insurance industry is under 2 percent. 9 The industry employs almost 1.45 million individuals. More than 62 percent of insurance carriers expect to increase staffing in next 12 months. 9 U.S. Department of Labor Occupational Outlook Handbook 2012-2013 predicted employment of insurance agents and actuaries will grow faster than average for all professions. Employment of actuaries is expected to grow by 27 percent.

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Insurance “Thanks to the financial support we have from the industry, we were very fortunate to be able to hire someone like (Kugler) to help take us to the next level,” Beyer said. “He has a great background and when I first talked to him I could see that he was hungry to come in here and help out. He told me, ‘I want to help grow something,’ so we’re very excited about that.” “I’m very fortunate to be in this position, because I’ve seen for a long time the opportunities there are for students and the need in the industry, and this is something I see as very important for the industry,” Kugler said. “Really, I’ve been a lucky guy throughout my career. I have a passion for this industry and I want to help it grow.”

the future, there’s less time available for on-the-job training, according to industry executives. “What has attracted our partners to support the program is that it compresses the time frame necessary for them to train new employees they bring on board,” Kugler said. “We believe one of the benefits of having the insurance program is helping students understand there are very good career choices within the industry, and the specialized training will better prepare them for a career in the industry,” said Wicinsky of Secura Insurance.

Within the next 15 years, 50 percent or more of the insurance industry workforce will retire.

Industry-specific education

In the past, traditional business and finance education programs have provided much of the staffing needed by insurance companies and corporate risk management divisions. However, that educational background – which concentrated on capital markets and corporate finance – left out much of the specific expertise required for insurance industry positions such as actuaries and underwriters. With so many of those positions required to be filled today and in

UW-Oshkosh’s program is one of only a handful of insurance industry-specific programs in the United States. Others include Butler University (Indianapolis), Illinois State University, Indiana State University and Appalachian State University (Boone, N.C.). The UW-Oshkosh Center’s programs offer minors in insurance and financial planning, as well as risk management and actuarial, with courses in principles of risk and insurance, commercial insurance and advanced risk management. With the support of its industry partners, the center also offers scholarships, grants and internships. Kugler said the industry-specific education is only part of the

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value of programs like the one at UW-Oshkosh. “Programs like ours also help develop students who will have a true passion for the industry,” Kugler said. “We bring in risk managers and insurance people from other organizations to speak with the students so they can begin to see what these jobs are really all about. So, the insurance companies know that when they hire these students, they’re not only getting well-educated employees, but also people who have an understanding of, an interest in, and a passion for the industry.”

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Academic Year New Students Total Students 2009-10 12 12 2010-11 25 37 2011-12 31 68 2012-13 10 78 2013-14 26 104 2014-15 34 136

Industry investment is the key

In addition to the six active partners on the advisory council, Beyer noted Acuity Insurance in Sheboygan and West Bend Mutual have also provided internship and instructional support. “In a relatively short time, we’ve had a lot of success, and I credit a lot of that to the investment we’ve had from the industry,” Beyer said. “That has been a major driver. Beyond the financial assistance they provide, they also give us direction and feedback to make sure we’re meeting the industry’s needs.” “We support the center, knowing that the center supports the entire industry and not just Secura,” Wicinsky said. “We believe it’s in our best interest to have a well-educated future workforce. A graduate from the college of business at UW-O comes out with an accredited business degree, and a wellrounded perspective. Further emphasizing the insurance industry within the curriculum helps the entire industry position itself for future success.” “Because of the support we have from the industry, we can be assured that we’re aligned properly with what the industry needs,” Kugler said. “But, we can’t rest on our laurels. Now the devil is in the details and we have to continue to work very hard as we continue to expand awareness, build the program, and increase participation to be able to meet the workforce needs of the insurance industry.” n Rick Berg is a freelance writer and editor based in Green Bay. www.newnorthb2b.com

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Financial Planning

When business owners retire

Proper financial planning and foresight is critical to ensuring maximum value on your largest asset once retirement comes calling

Story by Lee Marie Reinsch

Many entrepreneurs and business owners aren’t eager to retire. That surprises their non-business-owning counterparts. “The average person is waiting for age 62 or 65, ready to walk out the door,” said Michael Scott of Independence Financial in Oshkosh. “But I can think of plenty of our business owners who are working into their 70s and even their 80s.” One clocked in until the day he passed away at 92. “They’re all completely financially sound and can quit whenever they want; they don’t need to be working, but it’s their whole life,” Scott said. “They created the business … it’s what they love. It’s their hobby. It is what they want to do.” While these stoic souls might not wish to check in to the Polident palace, many wouldn’t mind a couple days off here and there, or working fewer hours. 24 | February 2015 | NNB2B

“If you can figure out a way to take some of the stress off the business owners … now that’s appealing to them,” Scott said. Take Scott’s dad, Walter “Scotty” Scott, a septuagenarian, for example. They have worked together for almost 15 years, and Scott’s in the process of buying Independence from his dad. Even after 51 years with Independence, Scotty’s in no rush to join the gold-watch club. That’s OK with both of them. Scotty loves being a mentor to his son, being engaged in the community and doing meaningful work. “He’s the quintessential scenario of a business owner – their (work) is everything about them,” Michael Scott said of his dad. “Some clients he’s known for four and five decades. They’re not just clients, they’re his friends. He doesn’t want to give up the opportunities to meet with them.”

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Entrepreneurship as a retirement plan Ron Hasselbacher turned lemons into lemonade. After getting downsized 10 years ago from his job at a large northeast Wisconsin manufacturer, Hasselbacher found himself using a lot of ink on all the resumes he sent out. When the idea came up of buying into a franchise whose purpose is to recycle printer ink cartridges, he saw an opportunity. “It meant getting in on the ground floor, saving people money,” Hasselbacher said. “It was environmental, plus I wasn’t the fifth guy on the same block in same city making signs.” When he opened his Cartridge World franchise in 2005, his store in Oshkosh was only the second in the state. The other was in Appleton. Ten years later, however, that lemonade is nearing its best-by date.

Hasselbacher expected to run the business for 10 years while saving for his retirement. It’s been harder than he anticipated to find a buyer for his franchise, he said. “All my financial plans were in place by the time I was 55. It was just a matter of going out, earning some more money, establishing the business, and then selling it,” Hasselbacher said. “My only mistake was not trying to start to sell it when I was in the business for 9 years, and waiting too long to sell it,” he said. But perhaps waiting a while longer will help increase the value of his business once buyers start to come knocking. - by Lee Reinsch

No egg in the nest

Valuations: Informal and formal

“Small-business owners typically don’t save money for themselves because much of their profit goes back into the business, and how do you retire on that?” said Kate Thome of Thome Benefit Solutions in Neenah.

Often emotions rule. Business owners may overestimate. Sometimes they underestimate. Financial advisors can help owners get an objective estimate, based on similar companies within the same industry, for an informal valuation.

Some do well enough to put profits back into their business and save for retirement. “But for others, (their business) is what they have. That’s their retirement,” Thome said. “You need a revenue stream or a lump sum for retirement.”

Lending institutions do formal valuations, which may cost several thousand dollars. The institution will ask for information including three years’ worth of profit and loss statements and balance sheets.

Many don’t even take a salary. Instead, they draw from the company as needed. That has an effect on their Social Security benefits, because without wages and withholdings, they’re not contributing to the system, Thome said.

“Have your paperwork as clean as possible” for a prospective buyer,” Thome said. “This will position you for a better result from the buyer.”

Many small-business owners don’t get pensions, 401(k) plans or formal profit-sharing plans, and they may not even have much of a nest egg.

Others make it work to their advantage. “With some business owners, a lot of times they make a lot more money investing in their business than they can by saving,” said Scot Madson of Navigator Planning Group in Green Bay.

One of the first things Thome asks business owners is, “What if someone came in with a checkbook and offered to buy your business? How much would you sell it for?”

Everyone is different

Sales of small businesses usually fall into three fairly selfexplanatory categories: internal, external and family sales. They can take weeks or years, and each is as different as the people who are retiring.

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Financial Planning ‘For sale’ sign

The role Scotty plays at Independence illustrates one kind of retirement – the gradual one. There’s no gold watch, no ‘Congratulations, Old Fart’ banners, no office roast. The exiting business owner might stay on as the new one learns the ropes.

So here’s a no-brainer: You’re selling your business, you probably don’t want to take the lowest bid. So are there any ways to pump up the value of your business? Fresh paint, new welcome mat, Febreze?

The exiting owner may even become an employee or consultant. They might draw up an employment agreement that the former owner will stay on board for a few years and be paid a portion of the revenue. In exchange, the newbie gets firsthand training, and longtime customers who are accustomed to dealing with the former owner get a more gradual exposure to the new one owner, thus aiding in client retention. “Many times the relationship of the old owner is also purchased, because their connections and the name of the old owner have value to customers, who might just say ‘I don’t know (this new person),” Thome said. Sometimes, it’s better not to linger. If the business is sold outright, the new owner or management may not want the old owner sticking around. “They’re going to want a quicker transition, and you want to be able to walk out that door and let them run it their way, because sometimes to do things the way you’ve always done them might not fit with the new person,” Madson said. “That can create some conflict.”

“In addition to enhancing the customer experience coming in the front door, you can enhance the financial experience by finding profitability, of which there are two main drivers,” says Bob Mathers, a business attorney and accountant with the law firm Davis & Kuelthau in Oshkosh. They are: Earnings or cash flow, and the stream of benefits a buyer is expecting to get into perpetuity. If there’s a customer concentration issue – one customer accounts for too much of your revenue, rendering you feeling insecure should they take their business elsewhere – you might eliminate as much risk in the transaction as you can. People are willing to take risks if they believe the payoff could be worthwhile. Business owners can reduce the amount of risk for potential buyers by making things like expenses and income as stable as they can, by instituting long-term contracts with customers and creditors, such as professional service providers, so the buyer knows income will be steady, Mathers said. How the stock market is doing can even affect business sales. “A closely held business, for example, is a more risky investment than one in the public equity markets,” Mathers

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said. “This differential in risk can be material. Therefore, the investment in a closely-held business needs to have a materially higher reward to compensate the buyer for that additional risk.”

bringing in outside management,” Scott said. “Oftentimes, people seem to skip that role, thinking that if you own the business, you are supposed to run every aspect of it, and that’s not necessarily the case.”

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What’s it worth?

“If a business owner is selling over 10 years in installment payments (without a large down payment) there’s a significant amount of risk that the seller has, to make sure the buyer is going to be successful and that the payments are going to continue to be maintained,” Scott said.

The IRS, for example, uses what’s known as a hypothetical buyer and seller in valuing a business for estate-tax or gift-tax purposes.

Scott advises getting an accountant involved to figure out what the tax impact will be for both buyer and seller.

He suggests that the seller purchase life insurance on the buyer. “If three years into the process, the buyer drops dead, then the seller is (thinking) ‘There’s 7 years of payments I’m not getting.”

Don’t pretend you know everything

Don’t be afraid to hire outside help, Scott said. Say a family member is taking over the business but has little to no experience in running a company. “In those types of cases, we encourage them not to rule out

How much a closely held small business is worth depends on who you are and why you want to know. “People laugh at that, but it’s really the truth,” Mathers said.

“That number is lower than it would be if I were buying a business to take out a competitor,” Mathers said. “When we have family involved, sometimes we’ll use gifting transactions instead of sale transactions, and instead of optimizing the value of the business, sometimes we need to do things that will bring that hypothetical value down.” Minority-interest discounts and discounts for lack of marketability can lower that hypothetical value. “It’s an entirely different discussion than we would have with the client who just wants to pull out the cash and lie on the beach,” Mathers said. With families, succession plans can take a number of forms, including the gradual transfer of shares in the company, a

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Financial Planning series of gifts or the establishing of separate estates. A strategy called “opportunity shifting” can be useful, too. “Say I am an orthodontist and my daughter just got done with orthodontia school and we want to bring her into the practice. It’s too much money for her to buy, so what I might do is set up a separate company (for her), and the next patient who walks in signs the contract with her company instead of mine,” Mathers said. “I just opportunity-shifted that revenue stream to the daughter’s hands.”

Biggest no-no Retirement planning should start the first day on the job, said Thome. “They should have an exit strategy in mind as soon as they’re in business.” Thome meets with people who want to sell their business ‘next year,’ and that doesn’t often happen, she said. A proper sale takes time and may not necessarily be what the owner envisioned – one that’s quick, uncomplicated and superprofitable. “Even if it’s a family member working in the business, you transfer some share value over a period of years,” she said. And that takes planning. A gradual transition may be more tax-efficient than a cash sale, she said.

“Discussions (of succession plans and retirement) need to happen early and often. Business owners need to be flexible as their business changes and their needs change,” Thome said. “Remember, you’re building this (business) for a reason, and how will this translate to a retirement income stream … if you don’t plan?”

A functional family

Not all families get along, and when there are family businesses in the mix, misunderstandings, personalities and lack of clear planning can have them butting heads. They’ve been known to disown each other. Luckily, Michael Scott and his family get along. Scott makes it clear to his three siblings that he’s buying the business from his father, not being given it. “I said straight out of the gate that I want to make sure I buy it because I don’t want it to be a problem among family members,” he said. It’s never been a problem, and they all get along really well, as do he and his dad. “I’m more than happy to have my father continue to work,” he said. “It’s truly valuable to have him around.” Sounds like a win-win for all.

n

Lee Reinsch of Green Bay worked 18 years at daily newspapers before launching her freelance business, edgewise, in 2007.

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Guest Commentary

Right to Work is Right for Wisconsin By Scott Manley

As a country built on the principles of liberty and individual freedom, it’s common sense that workers should have the right to choose whether to join a labor union and pay dues. But that’s not always the case in Wisconsin. Right to Work laws give employees freedom in the workplace by protecting them from being forced to pay dues to a labor union as a condition of their hiring or continued employment. Twenty-four states guarantee workers this freedom, and Wisconsin should become the 25th state if we want to remain economically competitive. Beyond the free choice argument, there are compelling economic reasons why the Wisconsin Legislature should enact Right to Work. For example, during the ten-year period from 2004 to 2013, Right to Work states grew jobs at an average rate of 5.3 percent, according to the federal Bureau of Labor Statistics. That’s more than twice the rate of job growth in forced-union states of 2.1 percent. More specifically, Right to Work states grew 3.6 million jobs during that timeframe, far exceeding the total of 1.5 million in states without worker freedom. Right to Work states have also experienced higher wage growth. U.S. Department of Labor data from 2003 to 2013 show wages grew by 15.1 percent in Right to Work states, while wage growth lagged behind at 8.2 percent in forcedunion states. Although opponents argue that Right to Work results in lower wages, data suggests that workers in Right to Work states have more disposable income. After adjusting for the differences in cost of living between states, the National Institute for Labor Relations Research reports that 2013 per capita disposable income was $38,915 in Right to Work states, compared to $36,959 in forcedunion states. Their data suggests that dual income families in Right to Work states average nearly $4,000 more in disposable income than their counterparts in forced-union states. Right to Work states often receive preferred status from businesses looking to invest in economic development projects. For example, Area Development Magazine’s 2012 Annual Corporate Survey found about 75 percent of businesses rated locating in a Right to Work state as www.newnorthb2b.com

“important” or “very important.” That’s consistent with site selection consultants who say states are eliminated from consideration early in the process in about half the projects because they lack a Right to Work law. Enacting a Right to Work law in Wisconsin could open the door to new job creation projects much as it has in Indiana when they passed their law in 2012. The Hoosier State’s economic development agency has already attracted 107 companies that indicated Right to Work was a positive factor in their decision to consider Indiana. The result is more than 10,300 projected new jobs, and more than $3.4 billion in private sector investment. Wisconsin must pass a Right to Work law to put our state on a level playing field for these types of job creation projects or we will continue to lose out.

Although opponents argue that Right to Work results in lower wages, data suggests that workers in Right to Work states have more disposable income. Opponents frequently characterize Right to Work as a policy intended to place unions at an unfair disadvantage. However, the workers being forced to pay union dues against their will have a more compelling fairness argument. In reality, the argument that Right to Work is anti-union is not supported by recent labor data. Statistics from the U.S. Department of Labor show Right to Work states collectively added 57,000 union jobs between 2010 and 2013, while forcedunion states actually lost 248,000 union jobs over the same period. Recent data has shown Right to Work states creating more jobs, growing wages faster, and having more disposable income. It’s hard to imagine how any of those outcomes are bad for workers. If Wisconsin is serious about improving our business climate and growing jobs, we need to enact Right to Work, and give employees the freedom to choose in the workplace.

Scott Manley is vice president of government relations for Wisconsin Manufacturers & Commerce, the state’s chamber of commerce and leading business association representing 3,800 employers of all sizes and from all sectors of the economy. NNB2B | February 2015 | 29


Health Care

The Common Good Northeast Wisconsin health care providers give better service by making sure the only overlap comes from rolling on a bandage

Cumbersome care frustrates both patients and providers. Lately, collaboration between hospitals and clinics treats the sick and injured more efficiently to save everyone money. It’s a nationwide idea, but in September the federal government recognized a Fox Valley program for achieving the best care. That Pioneer Accountable Care Organization program is just one shining example. Several programs pool resources and avoid redundancy, and others champion education or treatment of the poor and under-insured.

Education collaborative “There certainly is a lot of competition in health care. What has changed is the role of professionals,” explained Matt Hunsaker, dean of the new Medical College of Wisconsin Green Bay campus. “Education is a neutral space where all providers benefit.” The first group of 25 graduate students starts in July, and in two years enrollment will reach 75. The 200 being trained today at the Milwaukee campus, and 170 UW medical students in Madison, are simply not enough to meet demand in the state. According to a 2011 report by Wisconsin Hospital Association, by 2030 the state will need 2,000 more doctors.

Story by J.S. Decker

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“In Northeast Wisconsin we are constantly recruiting new physicians,” said Hunsaker. “If you recruit students in Wisconsin and they do medical school and residency in Wisconsin, the likelihood that they’ll practice in Wisconsin, historically, is 70 percent.” Slicing the cost of that education by $50,000 also helps, he said, since what takes four years to learn in Milwaukee will take three in Green Bay. There’s no summer break for these students.

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“University of Wisconsin - Green Bay and St. Norbert College are both providing some basic science professors who will be cross-trained in human medicine education to serve as faculty members,” he noted, and since St. Norbert’s science building was being remodeled anyway, it was natural to build an addition to house the basic science classes for MCW in De Pere. “Construction at our St. Norbert campus is completed but our space over at Bellin College is currently under construction.” Standardized patient rooms at Bellin College’s campus in Bellevue will host actors who know just what symptoms young doctors must ask about to make an accurate diagnosis. The consortium behind the new campus includes Bellin, Hospital Sisters Health System (St. Vincent and St. Mary’s hospitals), the U.S. Department of Veterans Affairs and Prevea Health. Eleven administrators are a fraction of the new jobs this new campus brings. “We’ll have several hundred people involved in different roles,” said Hunsaker, including volunteer instructors. “The physicians themselves are very altruistic in participating. Down the road, a student may be the very doctor who cares for us as we get older.” Prevea Health President and CEO Ashok Rai added, “You have the Baby Boomers getting older and they’re all going to require healthcare.” That’s a big factor behind every looming shortage the new satellite medical college aims to minimize. “We are offering financial support, and the opportunity for students to rotate within our clinics and hospitals to be taught by our physicians,” Rai said.

Training collaborative

After graduating, new doctors need to complete a threeyear residency, and for 30 years the Appleton clinic of the Fox Valley Medicine Residency Program has been a strong option. As of July, it will no longer be part of the University of Wisconsin Medical School, but will be affiliated with MCW under a partnership with ThedaCare and Ministry Health Care. “We may see a greater focus on the Fox Valley area,” says Dr. Mark Kehrberg, chief medical officer for Ministry Health Care in Menasha, but “Daily operations will not be significantly different.” Ministry and Affinity Health System contribute financial support through Graduate Medical Education funding from the federal government and offer physician mentors at hospitals and Affinity Medical Group clinics. Medical College of Wisconsin offers its resources, too, as the program aims to expand beyond the current 18 residents. “We also may create other physician training opportunities, such as rural training or more specialized tracks, and if this occurs more resources will likely be needed,” said Kehrberg. “This is not the only collaboration with ThedaCare and Ministry Health Care,” he continued. “In the Fox Valley we collaborate on a behavioral health program called Catalpa Health, with a mission of helping children and families improve their mental health and wellness. We also collaborate with ThedaCare on disaster preparedness, Gold Cross www.newnorthb2b.com

ambulance services, influenza vaccination of associates and physicians, and other efforts.”

Quality collaborative

Working smarter saves resources. That’s a major goal for the Accountable Care Organizations programs – also referred to as ACOs – which Bellin-ThedaCare HealthCare Partners got an early start on, and which the federal Centers for Medicare & Medicaid Services determined had the best results among 23 similar pioneer programs nationwide. Dr. Dean Gruner, president and CEO of ThedaCare, reported, “In the second year of the Pioneer ACO program, we received a target of $8,451 per beneficiary – and we beat that mark by more than 2 percent. This resulted in more than $3.2 million in savings for (Centers for Medicare & Medicaid Services).” Other initiatives in the Pioneer ACO Model and Medicare Shared Savings Program generated over $372 million in total program savings nationally for Medicare by fostering greater collaboration between doctors, hospitals and health care providers and kept patients healthy rather than treating them only when they were sick. George Kerwin, Bellin Health president and CEO, indicated

Accountable Care Organizations The theory behind collaborative care to improve patient health at a lower cost Accountable Care Organizations – or ACOs, for short – are a departure from more traditional methods of practicing medicine which financially discourage collaboration. Patients can often bounce around from provider to provider with the expectation that care is continuous. But it’s often difficult to guarantee that such care will be, and as such, the overall quality of care can diminish. Dr. Dave Krueger, executive director and medical director for BellinThedaCare Healthcare Partners, said the ACO model allows providers to earn more revenue by streamlining various aspects of a patient’s care and ultimately ensuring that the patient is healthier. “Traditionally, we don’t get paid to improve health,” Krueger said. “We get paid when we do something in healthcare. For example, when we devote resources to decrease complications and hospital readmissions, we also lose revenue. “By rewarding quality and cost outcomes, we are able to support things like care coordination programs that achieve these goals. The better we do, the more we get rewarded. In the past, we oftentimes would get financially punished when we made improvements in health. Now, under this new construct, it starts to make financial sense to drive these costs out of the system, and we now have the revenue to support the personnel and infrastructure to drive these changes. The end result is better care for our patients at a lower overall cost.”

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Health Care the pioneer program rewards healthcare organizations based on three areas that have long been a focus at his organization. “Bellin focuses on determining how we can simultaneously provide high-quality care, manage cost and create a positive patient experience in the communities we serve,” he said. Dr. Dave Krueger, executive director and medical director for Bellin-ThedaCare Healthcare Partners, said the two providers have a long history of collaboration. “About seven years ago, Bellin Health and ThedaCare and their 350 local independent affiliated physicians got together under this partnership, and this organization contracted with payers in the first several years to build a quality component into the contract so we would be rewarded if we performed well in quality.” What that evolved into is the Pioneer Accountable Care Organization. The network of physicians now totals 700, with coordinated care for 20,000 Medicare beneficiaries in northeast Wisconsin. The challenge from Centers for Medicare & Medicaid Services, Krueger said, led the partners to take accountability for a patient’s full cost of care and total outcomes. “In that contract,” he explained, “Patients who primarily were seeing physicians in our organization agreed to take responsibility for their care no matter where they went and that helped us achieve better outcomes no matter where they were going.” He put it simply: “The contract could pay me less than it did yesterday, but I could still make more money by streamlining things.” It’s a drastic change from old methods of health care delivery that discouraged collaboration. “When a patient goes to one health care provider, they do very well within their own space, but they’re not necessarily very well connected with other health care providers the patient is dependant upon. There usually ends up being a lot of additional things getting done,” Krueger added. A similar statewide partnership is About Health, which is mainly institutional accountable care organizations that came together: Aspirus (Wausau), Aurora Health Care, Bellin Health, Gundersen Health System (La Crosse), ProHealth Care (Waukesha County), ThedaCare and UW Health (Madison). In December the board of Marshfield Clinic decided to seek membership and it’s being considered now. Aurora Medical Center-Oshkosh President Jeff Bard said, “The seven health care systems, that together cover nearly 90 percent of the state’s population, are leveraging their collective resources and best-in-class practices to improve the lifetime health of people in the communities they serve.”

Community collaborative

In Oshkosh, Affinity’s Mercy Medical Center and Aurora Medical Center have shared cardiologists since 2010. They no longer need to compete against one another to attract the best talent. The cardiologists share privileges at both hospitals and the patients get treatment without worrying about the business behind it. The partnership ensures inpatient care at both locations at all hours, with a collaborative team of four interventional

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The entrance to the new Medical College of Wisconsin campus in the Gehl-Mulva Science Building at St. Norbert College in De Pere. Mike Dempsey

cardiologists, one nurse practitioner and one physician’s assistant. For the last 20 years, the UW-Oshkosh College of Nursing has provided primary care for uninsured and under-insured patients at its Living Healthy Clinic. Four full-time staff and seven volunteer doctors and nurses draw resources from Mercy Health Foundation, Oshkosh Area United Way, Oshkosh Area Community Foundation, a city block grant, Winnebago County Health and Human Services, J.J. Keller Foundation, U.S. Venture/Schmidt Family Foundation, John E. Kuenzl Foundation and Women’s Fund of Oshkosh. Aurora, Affinity and ThedaCare provide – on a rotational basis – free lab services and basic diagnostic services, and they all provide monetary grants to the clinic, said clinic director Leona Whitman. She said more people are insured since it became mandatory under the federal Affordable Care Act, but “Many of these people have high deductibles and find themselves unable to meet it. Our mission allows us to help serve this population and provide primary health care.” Recently the clinic started expanding its role in helping health care providers manage patients. For example, she said, “They have us do diabetic education. We are taking more of a proactive lead in helping the community get healthier.” Collaborations with free and community clinics to expand access to uninsured and underinsured residents is a signature focus of Aurora’s community benefit services statewide, said Priscilla Navis Buteyn, director of quality and education for Aurora Medical Center in Oshkosh. A new initiative offers funding for such community initiatives through its Better Together Fund. “The Fund is an invitation to eastern Wisconsin federallyqualified community health centers, free clinics like Living Healthy Community Clinic, and other services, to submit a proposal for consideration,” Navis Buteyn said. n J.S. Decker is a business journalist based in Oshkosh.

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Professionally Speaking

5 Questions to Ask Your Banker Tomorrow

Professionally Speaking is a paid promotional spot in B2B.

by Matt Bakalars of Fox Valley Savings Bank 920.379.9378 When was the last time you visited with your banker or were solicited to switch over your banking to another financial institution?

In the age of shiny offers and boisterous claims, how do you know how to pick the right banker for you? We’ve put together 5 simple questions to ask when interviewing your future or current banker to help ease your decision making process. 1. Are you prepared to meet my lending needs? When the time is right, and you need working capital to support the growth of your organization, make sure your banker has the local lending power to help your organization succeed.

2. Are you the right partner for my organization? Financial institutions come in all shapes and sizes. It’s important that you select the right banker for your current and future needs. Cookie-cutter services and experiences work for the big banks, but for FVSBank, delivering a custom experience is what we’re all about. 3. Are loans approved locally? If your banker doesn’t have local decisionmaking authority, what’s the point of working with them? Your banker should be there to support and understand your organization’s needs. 4. Who do I call if I need help? If you don’t know or if you have to get through assistants, secretaries and customer service call centers before you get to your banker, it’s time to start looking for a new financial partner. At FVSBank, we work hard to know each one of our clients, allowing us to give knowledgeable,

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responsive and personal service. When you need help: call me, email me, text me, stop by or come over for dinner! 5. How do you show value to your clients? Your business banker needs to be more than a banker, they need to be your partner. They should take the initiative on a regular basis to find opportunities that support your growth and success. At FVSBank, we don’t believe in “bankers’ hours.” We work during your hours. At FVSBank, we strive to create a business banking experience that is personal and exceeds your expectations. If you have questions, give me a call at the Oshkosh branch. Better yet, call my cell phone at 920-379-9378. I’ll return your call, even outside of “bankers’ hours.” Matt Bakalars is Vice President of Business Banking with Fox Valley Savings Bank.

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Professionally Speaking

NLRB moves forward with “Ambush Elections” Rule by Tony Renning of Davis & Kuelthau, s.c. 920.232.4842 Reader Question: What impact, if any, will the NLRB’s “ambush elections” rule have on union representation elections? Tony Renning: On December 12, 2014, the National Labor Relations Board (NLRB) issued its long-awaited final rule that overhauls the procedures for union representation elections. The changes are scheduled to take effect April 14, 2015, unless a court or Congress blocks enforcement of the new rule. A number of business groups and organizations have already filed suit to challenge the new rule. Representation elections are filed by employees, unions and employers seeking to have the NLRB conduct an election to determine if employees wish to be represented for purposes of collective bargaining with their employer. The NLRB investigates these petitions to determine if an election should be conducted and directs

an election, where appropriate. The most significant impact of the new “ambush elections” rule is the amount of time between when a union files a representation petition and an election taking place. Most union representation elections will now be held in a range of 10 to 21 days after a petition has been filed. The short time period for union representation elections, which have historically occurred over a five to six week period, will deprive employees of the opportunity to receive critical information prior to voting. In addition, the “ambush elections” rule essentially eliminates most employer rights during the representation process: (1) most disputes over voter eligibility and bargaining unit inclusion/exclusion will be resolved after the election; (2) employers must file a formal Statement of Position within seven days and risk forfeiting the right to pursue any issue(s) not included in the Statement of Position; and (3) employers must provide multiple lists containing employee personal information (e.g., home address, phone

Strategies for Dealing with Market Corrections

Professionally Speaking is a paid promotional spot in B2B. If you have a particular labor/employment law question, please forward your question to Mr. Renning at info@ newnorthb2b.com. If he responds to your email in a future issue, your name and company will be withheld to preserve your privacy.

numbers, electronic-mail address, etc.) to the union. The shortened time period for union representation elections place a premium on rapid response by employers to union organizing activity. Employers should develop a response to the shortened election time frame. For advice and counsel concerning union organizing campaigns, and other labor law issues, contact Tony Renning at (920) 2324842 or trenning@dkattorneys.com or any other member of the Davis & Kuelthau Labor and Employment Team. Tony Renning is a shareholder with Davis & Kuelthau, s.c. Mr. Renning provides counsel to private and public sector employers on a wide variety of labor and employment law matters. This article is intended to provide information only, not legal advice. For advice regarding a particular employment situation, please contact a member of the Davis & Kuelthau, s.c. Labor and Employment Team.

Professionally Speaking is a paid promotional spot in B2B.

by Jeff Hayes of Navigator Planning Group 920.406.8500

When markets are rallying and the sky seems to be the limit, it’s easy to believe the good news will last forever. Then the markets drop and it is an unpleasant surprise. The reality is that corrections are not unusual and are actually healthy and common within bull markets. Here are some strategies to use to survive stormy market conditions: PROACTIVE RISK MANAGEMENT One of the best defenses against investment losses is putting your risk management on the offense. It’s finding the right balance between risk and return for every individual. AVOID EMOTIONAL INVESTING Emotional decision-making can wreak havoc on even the best investment strategies when markets swing and nerves take hold. As an www.newnorthb2b.com

investor, there are two emotions you need to confront whenever you make financial decisions: fear and greed. Fear can cause us to abandon an investment strategy when the outcome is not what we want. Greed can cause us to chase investment fads and take on too much risk. One of the major benefits of working with a financial professional is that it is our job to act as the ‘voice of reason’ when emotions are running high. MAINTAIN CONSISTENCY IN INVESTING One of the most important factors in longterm investing is maintaining consistency and discipline over time. In our experience, time in the market is much more important than timing the market. Consistent investing is about making regular investments and adjusting your strategy as your needs and values change, as opposed to trying to time the market’s ups and downs.

THE BOTTOM LINE Market corrections are a natural part of the overall business cycle and it’s important to take them in stride. Declines also provide an environment to test your risk tolerance and ensure your financial strategies and asset allocation are aligned with your long-term objectives. It is our goal as financial representatives to help you put market movements in perspective and understand how your investment strategy fits into your financial goals. One of our most important roles is that of confidante, sounding board, and – dare we say – financial therapist. At Navigator Planning Group, we are ‘invested in you.’ Jeff Hayes, Navigator Planning Group, is a Registered Representative of SII Investments and can be reached at 920.406.8500 or jeff@ navigatorpg.com. Visit us at Navigatorpg.com. Securities and advisory services offered through SII Investments, Inc. Member FINRA/SIPC and a registered investment advisor. SII and Navigator Planning Group are separate companies.

NNB2B | February 2015 | 35


Who’s News

Incorporations

New North B2B publishes monthly new business incorporations filed with the Wisconsin Department of Financial Institutions. Brown County

Bill Daul Painting LLC, William M. Daul II, N4990 County Road E, De Pere 54115. A & J Lawn, Snow & Home LLC, Adam Zirbel, 733 N. Melcorn Cir., De Pere 54115. Van Den Heuvel Mill LLC, Gerald Van Den Heuvel, 1902 Little Rapids Road, De Pere 54115. Precision Tax Group LLC, Mark E. Soderlund, 1251 Scheuring Road, De Pere 54115. Edit Salon LLC, Amber Brown, 1169 Cass St., Green Bay 54301. Bay Mechanical Systems LLC, Michael Cain, 1050 Glory Road, Green Bay 54304. Good & Faithful Servant Services LLC, Richard S. Lentz, 1394 Shirley St., Green Bay 54304. Multi Service Container LLC, Kenneth Glowacki, 2701 Don Gerard Way, Green Bay 54311. Happy Homez Maintenance LLC, Alicia Mae Stiles, 309 Simomet St., Green Bay 54301. Joe’s Industrial Tires LLC, Joseph Robert Hintz, 1410 S. Ridge Road, Green Bay 54304. Delsart Electric LLC, Luke Jensky, 2306 Red Oak Dr., Green Bay 54304. Allied Painting & Staining LLC, Christopher William Woodliff, 2411 Glendale Ave., #3, Green Bay 54313. Spring Nail Spa LLC, Xueying Kwitkowski, 1681 Lime Kiln Road, Green Bay 54311. Stylin Salon LLC, Brittany Derenne, 1718 Velp Ave., Green Bay 54303. Hello Lemon Studio LLC, Kandace Sechler, 2025 Libal St., Green Bay 54301. Bellevue Street Shoppes LLC, Gregg J. Slusarek, 1390 Bellevue St., Ste. 100, Green Bay 54311. Subs & Stuff INC., Steven A. Duval, 1683 Wedgewood Dr., Green Bay 54303. Canadian American Homes INC., Gordon Renn, 1250 Cornell Road, Green Bay 54313. A & D Lawn Care LLC, Aaric Nohr, 2128 Sunnymede Lane, Green Bay 54311. Thirteen Degrees Media LLC, Wendy Schuchart, 203 Swiss Hill Dr., Green Bay 54302. Private Label Coffee LLC, Troy Wolf, 1470 Gruber Road, Green Bay 54313. C & S Strategic Financial Solutions LLC, Chad L. Schoenfeld, 1039 W. Mason St., Green Bay 54303. Mazin Ellias M.D., S.C., Mazin Ellias, 3022 Warm Springs Dr., Green Bay 54311. Mini Dumpsters LLC, Jonathan Rose, 837 Liebman Ct., Green Bay 54302. Awkward Coffee Films LLC, John Hobart Reed, 821 12th Ave., Green Bay 54304. Wisconsin Lock & Load Electronic Monitoring Solutions LLC, Timothy Thomas Cook, 1015 Challenger Ct., Green Bay 54311. Hall Janitorial LLC, Lynn T. Hall, 1128 Oregon St., Green Bay 54303. Specialty Telemedicine Services LLC, Jonathan E. Tammela, 5277 Rockwood Point Dr., New Franken 54229. Mad Ape Vape LLC, Patrick Norval Smits, 5879 N. Shore Acres Road, New Franken 54229.

Fond du Lac County

Hawkeye Delivery LLC, John Charles Hoffman, N5511 S. Main St., Fond du Lac 54937. Dragonfly Dreams Photography LLC, Timothy S. Dalla Valle, 409 Dewberry Dr., Fond du Lac 54935. 36 | February 2015 | NNB2B

Bellringer Fitness LLC, Edward Burns, 655 Triangle Road, Fond du Lac 54935. Fisher Delivery Service LLC, Denise M. Fisher, 778 Southgate Dr., Fond du Lac 54935. Paddy’s Pizza LLC, Justin Keating Johnson, 681 Bruce St., Fond du Lac 54935. Artesian Heifer Farm LLC, Gary Lee Boyke, N5421 County Road K, Fond du Lac 54937. Uniqueful Artistry LLC, Jena Ann Ottery, 228 S. Military Road, Studio 210, Fond du Lac 54935. General Vending of FdL LLC, Amy Priessnitz, W7043 Rogersville Road, Fond du Lac 54937. Beckhoff Automation LLC, Donald H. Seichter, N6687 Wrightway Dr., Fond du Lac 54937. Passerine Home Remodeling LLC, Peter Halper, N7315 Winnebago Dr., Fond du Lac 54935. Peebles Grille LLC, Troy Pagel, 651 S. Park Ave., Fond du Lac 54935. Mugs Coffeehouse LLC, Matthew Ronald Holley, 307 Watson St., Ripon 54971. Headstart Hair Styling Salon LLC, Kellie M. Trepanier, N3375 Lemmenes Parkway, Waupun 53963.

Green Lake County

JSR Therapeutic Consulting LLC, Jeffrey S. Ryan, 106 N. Johnson St., Berlin 54923. Tri-County Area Community Foundation INC., Matthew G. Chier, 137 E. Huron St., Berlin 54923.

Outagamie County

Precision Wire Harnesses LLC, William Stanley Yates, 1750 Prospect Ct., Appleton 54914. White Rose Graphics LLC, Amanda Heitz, W6157 Aerotech Dr., Appleton 54914. Anderson Contracting and Inspecting LLC, Jody C. Anderson, 2306 N. Meade St., Appleton 54911. Kelsey’s Castle Concerts LLC, William D. Maloney, 206 E. Royal Ct., #3, Appleton 54915. The Appraisal Company of Appleton LLC, Patricia E. Walton, 1518 S. Bartell Dr., Appleton 54914. Ambrosius Auto LLC, Michael Lee Ambrosius, 5371 County Road KK, Appleton 54915. Telecom Associates LLC, Robert Marshall Schmeckpeper, N275 Pinecrest Blvd., Appleton 54915. University Aviators Club of Oshkosh INC., Andrew Miller, 2000 S. Memorial Dr., Appleton 54915. Fox Valley Insurance Solutions LLC, James J. Ackerman, 131 W. Winrowe Dr., Appleton 54913. N.E.W. Heating and A/C LLC, Genelle M. Johnson, 225 N. Richmond St., Appleton 54911. B & B Racing Engines LLC, Donald R. Schultz, Jr., 2588 Cold Spring Road, Appleton 54914. B7 Music Studio LLC, Benjamin Kai Michael Wollin, 715 1/2 N. Oneida St., Appleton 54911. Communication Connections LLC, Laura C. Smythe, 62 S. Meadows Dr., Appleton 54915. Apple Creek Financial Solutions LLC, David John Donze, 5001 N. Cherryvale Ave., Appleton 54913. A To Z Home Inspections of Wisconsin LLC, Paul Zschaechner, 106 Parkway Dr., Combined Locks 54113. Virtual Data Center Technology Solutions INC., Christopher J. Rosales, 103 Jean St., Combined Locks 54113. Apex Home Improvement LLC, Kenneth Anthony Van Krey, W9002 R and D Road, Hortonville 54944.

Winnebago County

CR Homes Group LLC, Kip N. Golden, 1013 Tana Lane, Menasha 54952. Holtze’s Golf Shop INC., Marcus Holtz, N9039 Blackoak St., Menasha 54952.

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Call A Cab Oshkosh LLC, Dave D. Wilson, 218 Loper Ct., Neenah 54956. Marketplace Cafe LLC, Umer Sheikh, 130 W. Franklin Ave., Neenah 54957. Northeast Wisconsin Retina LLC, John P. Rosculet, Ste. 110, Neenah 54956. Maher Winery LLC, David F. Maher, 1521 Fallow Dr., Neenah 54956. Garvens Bus Company LLC, Daryl S. Garvens, 979 Willow St., Omro 54963. Fox Cities Roller Derby INC., Michelle L. Hitchcock, 1227 Jackson St., Oshkosh 54901. Live Wire Data Processing LLC, Michael Taivalmaa, 2080 W. 9th Ave., #104, Oshkosh 54904. Wisconsin Medical Marijuana Association INC., Scott Blau, 630 Starboard Ct., Oshkosh 54901. Red Brick Inn & Retreat LLC, Kelly King, 4736 County Road S, Oshkosh 54904. Equinox Handyman Service LLC, Casey Allen Davis, 4366 Swallow Banks Lane, Oshkosh 54904. Klabunde Farms LLC, Thomas L. Klabunde, 203 State Road 26, Oshkosh 54904. Ichiban Sushi House INC., Hua Jian Zhou, 1600 Capital Dr., Oshkosh 54902. Tim’s Full Belli Deli LLC, Timothy J. Schopp, 1912 Delaware St., Oshkosh 54902. First Wisconsin Insurance Services LLC, Thomas James Sitter, 48 N. Oakwood Road, Oshkosh 54904. Tom’s Tree Service LLC, Thomas Klingbeil, 2127 N. Point Comfort Road, Oshkosh 54902.

Building permits

B2B includes a monthly list of building permits (not to include residential projects) in excess of $400,000. Lombardi 839 LLC, 839 Lombardi Ave., Green Bay. $900,000 for a new office building. Contractor is TCD Homes of De Pere. December. DADL LLC, 2200 N. Jackson St., Oshkosh. $500,000 for a new multi-tenant retail building. Contractor listed as self. December 9. Noodles & Company, 1508 S. Koeller St., Oshkosh. $400,000 for a 5,200-sq. ft. restaurant building to include an additional vacant commercial space. General contractor is Bayland Buildings of Green Bay. December 10. Sports Authority and Ross Dress for Less, 1508 S. Koeller St., Oshkosh. $2,600,000 for 37,000 square feet of retail space for a sporting goods retailer and a separate store for a clothing retailer. General contractor is Bayland Buildings of Green Bay. December 10.

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Fosber America, 1333 Parkview Road, Ashwaubenon. $886,000 for an addition to the existing manufacturing facility. General contractor is Bayland Buildings of Green Bay. December. Lineville Intermediate School/Howard-Suamico Schools, 2700 Lineville Road, Howard. $540,175 for infrastructure upgrades to the new pool addition of the school. General contractor is Miron Construction Co. of Neenah. December 11. Aurora Healthcare Inc., 2845 Greenbriar Road, Green Bay. $940,000 for interior alterations to the existing hospital to accommodate new offices. General contractor is Boldt Construction Co. of Appleton. December. Aurora Baycare Orthopedic & Sports Medicine Center, 1160 Kepler Dr., Green Bay. $6,000,000 for an addition to the existing orthopedic clinic to accommodate new offices. General contractor is Boldt Construction Co. of Appleton. December.

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Who’s News Appleton Medical Center, 1818 N. Meade St., Appleton. $790,000 for a two-story, 7,500-sq. ft. addition to the existing hospital facility for a hybrid operating room. General contractor is Boldt Construction Company of Appleton. December 19. ARMS Inc., 1850 Enterprise Dr., De Pere. $800,000 for a 20,500-sq. ft. addition to the existing warehouse and office. General contractor is Smet Construction Services of Green Bay. December 23. Fox Valley Hematology & Oncology, 3925 N. Gateway Dr., Appleton. $1,350,000 for a 60,000-sq. ft. cancer treatment facility. General contractor is Miron Construction Company of Neenah. December 30.

New locations CitizensFirst Credit Union will be relocating its North Main Street branch in Oshkosh to a more accessible location 215 W. Murdock Ave., the former location of Vitale’s Italian Cuisine. Construction of the new branch office is underway and is expected to be complete sometime in late summer. Habitat for Humanity ReStore in Fond du Lac moved to 65 W. Scott St. in Fond du Lac, inside the former Pick ‘n Save store next to Children’s Museum of Fond du Lac. The phone number for ReStore remains the same at 920.921.2893. A Very Special Place opened at 1000 W. Main St. in Little Chute as a daycare and respite service provider for people with special needs. It also plans to begin offering residential services in March. For more information about A Very Special Place, call 920.687.6454.

Bring It! Errands & Delivery opened an office at 421 S. Military Ave., Ste. 104 in Green Bay’s Military Avenue Business District. More information about Bring It! Is available online at bringiterrands.com. Siam Palace opened at 418 S. Military Ave. in Green Bay offering traditional Southeast Asian cuisine. Siam Palace can be reached by calling 651.200.7652.

Mergers/acquisitions Independent Printing of De Pere acquired wide format printer Hayes Graphics LLC of Mosinee. Hayes will continue to operate in Mosinee under the name Independent Printing Company – Large Format Solutions. New capabilities for Independent through the acquisition include: point of purchase and retail graphics, banners, labels, clings, decals, signs, trade show displays, vehicle graphics and posters. Appleton-based Schenck SC acquired the Manitowoc-based tax and accounting firm of Kroening, Stangel, Swetlik & Zinkel LLP. The transaction is expected to close in May, at which time the employees of Kroening, Stangel, Swetlik & Zinkel will move to Schenck’s offices in Manitowoc.

Business honors Red Shoes PR, Inc. of Appleton received a 2014 PRemier Award by Public Relations Society of America Northeast Wisconsin Chapter for its work on the INCLUDE Initiative to educate youth and adults in the Fox Valley about inclusion of sexual orientation, gender identity and expression.

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Fox VAlley:

Securities offered through Woodbury Financial Services, Inc. Member FINRA, SIPC. PO Box 64284, St. Paul MN 55164-0284, (800) 800-2638. Alberts & Heling CPAs and Woodbury Financial Services, Inc. are not affiliated entities.

38 | February 2015 | NNB2B

EC00-1113 B2B Ad_Qtr_Tax_Final.indd 2

11/27/13 8:18 AM

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Chartré

Hogan

Sjak-Shie

New Hires Faith Technologies in Menasha hired Kelly Chartré as director of marketing. Chartré has more than 10 years of marketing experience, having most recently served as a marketing manager for Miller Electric Mfg. Co. in Appleton. Green Bay-based Prevea Health hired Kate Hogan as vice president of corporate relations and innovations. Hogan previously spent 21 years with the Green Bay Packers, most recently as director of retail operations. Appleton-based ThedaCare added Nelida Sjak-Shie, MD, as a hematologist and oncologist, Michelle TePastte, MD, as a hospitalist, and Sheila Thiel, MD, as a senior care specialist. Dr. Sjak-Shie and Dr. TePastte see patients at both Appleton Medical Center and Theda Clark Medical Center in Neenah, while Dr. Thiel provides mobile care in geriatric medicine. The Wisconsin Timber Rattlers in Appleton hired Hillary Basten as banquet sales and events manager, Sara Mortimer as staff accountant, and Kaitlynn Sablich as a group sales representative. Bank of Luxemburg hired Eugene Turchyn as a portfolio manager in its Green Bay branch office. Lutheran Homes of Oshkosh hired Bonnie Behnke as director of development. Behnke has served in a variety of positions within business development and management throughout her career. Miron Construction Co., Inc. of Neenah hired Jennifer Tomazevic as a project accountant and Laurie Mayer as an accounting coordinator. Tomazevic has 15 years experience in the construction industry, while Mayer has 34 years experience in sales and customer service. Ashwaubenon-based Nsight hired Russ Lipinski as its director of innovation and product development. Lipinski served as president and executive director of Associated Carrier Group since 2007. He previously served as Cellcom’s senior product manager from 2002 to 2007 and has 24 years experience in the telecom industry.

Behnke

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Knutson

Brotherton-Zehr

TePastte

Thiel

Turchyn

Greater Green Bay Chamber hired Ashley Knutson as the youth development manager for its Partners in Education program. Knutson most recently served as the assistant coach/recruiting coordinator for women’s soccer at Viterbo University in La Crosse, and was also a German teacher in the La Crosse school district. Associated Financial Group in Kimberly hired Scott Brotherton-Zehr and Jamie Gill as benefit consultants and Kevin Kohlbeck as a property and casualty consultant. Brotherton-Zehr most recently was a customer response unit trainer with Guardian Life Insurance Company of America in Appleton, while Gill was a territory sales manager with Altria. Kohlbeck has more than 25 years of insurance agency experience, previously serving as president of Vincent Group Agency in Green Bay. Integrity Insurance in Appleton hired Maggie Haddock as a marketing specialist. Haddock previously served as marketing and public relations manager for Fox Cities Performing Arts Center in Appleton. Goodwill Industries of Northcentral Wisconsin hired John Signoretti as a database engineer. Signoretti most recently served as a senior business analyst for Oshkosh Corp., and has held IT positions with Jewelers Mutual Insurance Company in Neenah and with Capital One. Hand to Shoulder Center of Wisconsin in Appleton and Green Bay hired Theresa Parry as an occupational therapist. Her areas of specialty include the treatment of upper extremity orthopedic injuries and disease, manual therapy techniques and traumatic injuries. Agnesian HealthCare added Christopher Nervi, MD, as a general surgeon to its Fond du Lac Regional Clinic. Green Bay-based New North Inc. hired Connie Loden as a senior project manager. Loden has 22 years experience in economic development and most recently served as executive director of Progress Lakeshore – formerly Economic Development Corp.-Manitowoc County – since 2010. She held previous roles with Iron County Development Zone Council in northern Wisconsin and as the president/ CEO of Heart of Wisconsin Business & Economic Alliance in central Wisconsin. CR Structures Group, Inc. of Kimberly added Kip N. Golden as executive vice president and partner in the construction services firm. Golden has more than 20 years experience in the commercial and light industrial construction industry. He will lead business development efforts and manage pre-construction activities for clients.

Gill

Kohlbeck

Haddock

NNB2B | February 2015 | 39


Business Calendar

Signoretti

Parry

Nervi

Promotions

Loden

Golden

Nelson

call 920.921.9500 or go online to www.fdlac.com.

Red Shoes PR, Inc. in Appleton promoted Maria Nelson from senior account executive to account director. Nelson has been with the agency since 2008. Secura Insurance in Appleton promoted Dom Mongarella to director of risk management. Mongarella joined Secura in 2011 as a risk management consultant. Prior to Secura, he worked as director of safety for the City of Jeffersonville, Ind. and as a senior loss prevention consultant with Willis/HRH. Neenah-based First National Bank – Fox Valley promoted Tim Vogelsang to senior vice president of commercial banking. Vogelsang has been with FNB Fox Valley since 2008. Lakeside Packaging Plus, Inc. promoted Mary Van Boxtel to director of production at both its Neenah and Oshkosh facilities. Van Boxtel has been with the organization for 28 years, having spent the past 17 years as coordinator of production in Neenah.

Business calendar

New North B2B encourages businesses and organizations looking to attract interested persons to upcoming events to email info@newnorthb2b.com. For more events, log on to www.thenewnorthevents.com. February 3 Greater Green Bay Chamber Power Networking Breakfast, 7:30 to 9 a.m. at the chamber offices, 300 N. Broadway, Ste. 3A in Green Bay. No cost to attend for chamber members. For more information, call 920.437.8704 or email members@ titletown.org. February 4 Fond du Lac Association of Commerce Coffee Connection, 7:30 to 8:30 a.m. at Anytime Fitness, 209 N. Macy St. in Fond du Lac. For more information or to register,

February 10 Oshkosh Chamber of Commerce Sales Club, 7:30 to 8:30 a.m. at the chamber building, 120 Jackson St. in Oshkosh. No cost to attend for chamber members. For more information, call 920.303.2266 or go online to www.oshkoshchamber.com. February 10 Heart of the Valley Chamber of Commerce Business Before Hours, 8 to 9 a.m. at the chamber building, 101 E. Wisconsin Ave. in Kaukauna. Program is “Rise Above Criticism, Negativity and Conflict.” For more information or to register, email Kelli at kclussman@heartofthevalleychamber.com. February 11 Greater Green Bay Chamber Business After Hours, 5 to 6:30 p.m. at The Salvation Army Ray & Joan Kroc Corps Community Center, 1315 Lime Kiln Road in Green Bay. No cost to attend for chamber members. For information, call 920.437.8704 or email members@titletown.org. February 11 Women in Management – Fox Cities Chapter monthly meeting, 11:45 a.m. to 1 p.m. at Fox Banquets & Rivertyme Catering, 111 E. Kimball St. in Appleton. For more information or to register, go online to www.wimiwi.org or email foxcitiesprogram@ wimiwi.org. February 11 A.M. Oshkosh, a morning networking event from the Oshkosh Chamber of Commerce, 7:45 to 9 a.m. at Caramel Crisp Café, 200D City Center in Oshkosh. Cost to attend is $2. For more information or to register, call 920.303.2266 or go online to www. oshkoshchamber.com. February 12 Morning Business 60, a workshop and networking opportunity for small business owners presented by Epiphany Law, 7:30 to 8:30 a.m. at Cambria Suites, 3940 N. Gateway Dr. in Appleton. Program topic is “Leasing or Acquiring Your Office/Real Estate.” No cost to attend, but registration is required. For more information or to register, contact Amanda at 920.996.0000 or afredrick@epiphanylaw.com.

Better Business Bureau New Members Businesses accredited through the Northeast Wisconsin office during December 2014 DogWatch Hidden Fence Systems, Green Bay Fletcher Chiropractic, Oshkosh Futurity First Insurance Group, Green Bay JG Building, Hortonville Skotzke National, Neenah The Stoneworx, Neenah Mongarella

Vogelsang

40 | February 2015 | NNB2B

Van Boxtel

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February 12 Women in Management – Oshkosh Chapter monthly meeting, 11:15 a.m. to 1 p.m. at La Sure’s Banquet Hall, 3125 S. Washburn St. in Oshkosh. For more information or to register, go online to www.wimiwi.org or email Lisa at lkoeppen@communityblood.org. February 12 Fond du Lac Association of Commerce Annual Dinner, 5:30 to 8:30 p.m. at Holiday Inn in Fond du Lac. For more information or to register, call 920.921.9500 or go online to www.fdlac.com. February 17 Fox Cities Chamber of Commerce Business Connection, 5 to 7 p.m. at Ridgeway Country Club, 2913 County Road II in Neenah. No charge for members. For more information or to register, contact Pam at receptionist@foxcitieschamber.com. February 19 Heart of the Valley Chamber of Commerce Annual Awards Event, 5 to 9 p.m. at Waverly Beach, N8770 Fire Lane 1 in Menasha. For more information or to register, call 920.766.1616 or visit www.heartofthevalleychamber.com. March 3 Greater Green Bay Chamber Power Networking Breakfast, 7:30 to 9 a.m. at the chamber offices, 300 N. Broadway, Ste. 3A in Green Bay. No cost to attend for chamber members. For more information, call 920.437.8704 or email members@ titletown.org. March 10 Oshkosh Chamber of Commerce Sales Club, 7:30 to 8:30 a.m. at the chamber building, 120 Jackson St. in Oshkosh. No cost to attend for chamber members. For more information, call 920.303.2266 or go online to www.oshkoshchamber.com. n

Relax.

We’ve got you covered. For all your commercial, industrial, and institutional roofing needs.

866-799-0530 | N2971 Hwy. 15, Hortonville

www.wiroofer.com

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Coming to B2B in March 2015 Tourism

Building Workforce Capacity in the New North’s Hospitality Industry

Advertiser Index

Alberts & Heling CPAs ⎮www.alberts-heling-cpas.com. . . . . . . . . . . . 38 Aurora Health Care ⎮www.Aurora.org. . . . . . . . . . . . . . . . . . . . . . . . . . 44 Bank First National ⎮www.bankfirstnational.com. . . . . . . . . . . . . . . . 33 Bayland Buildings ⎮www.baylandbuildings.com. . . . . . . . . . . . . . . . . 12 Borsche Roofing Professionals ⎮www.wiroofer.com. . . . . . . . . . . . . . . 41 Brown County Resource Recovery ⎮www.BrownCountyRecycling.org. . . 8 CitizensFirst Credit Union ⎮www.citizensfirst.com . . . . . . . . . . . . . . . 22 Common Ground Healthcare Cooperative ⎮ www.CommonGroundHealthcare.org. . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Consolidated Construction Company ⎮www.1call2build.com. . . . . . . . 5 C.R. Structures Group, Inc. ⎮www.crstructures.com . . . . . . . . . . . . . . . 8 Davis & Kuelthau, s.c. ⎮www.dkattorneys.com. . . . . . . . . . . . . . . . . . 35 Dynamic Designs ⎮www.dynamicdesignspulaski.com . . . . . . . . . . . . 38 First National Bank ~ Fox Valley ⎮www.fnbfoxvalley.com. . . . . . . . . . 37 Fox Communities Credit Union ⎮www.foxcu.org. . . . . . . . . . . . . . . . . . 11 Fox Valley Savings Bank⎮www.FVSBank.com . . . . . . . . . . . . . . . . . 2, 34 Fox Valley Technical College⎮www.fvtc.edu/BIS. . . . . . . . . . . . . . . . . 33 Guident Business Solutions ⎮www.guidentbusinesssolutions.com. . . . 7 Keller Inc. ⎮www.kellerbuilds.com. . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Navigator Planning Group ⎮www.Navigatorpg.com. . . . . . . . . . . . . . . 35 Network Health ⎮www.networkhealth.com . . . . . . . . . . . . . . . . . . . . . 43 NEW Building & Construction Trades Council ⎮www.newbt.org . . . . . 10 NWTC Corporate Training & Economic Development ⎮ www.corporatetraining.nwtc.edu. . . . . . . . . . . . . . . . . . . . . . . . . . 42 Outagamie County Regional Airport ⎮www.atwairport.com. . . . . . . . . . 9 R&R Steel Construction Company Inc. ⎮www.rrsteelconstruction.com.15 Society Insurance ⎮www.societyinsurance.com. . . . . . . . . . . . . . . . . . 27 St. Norbert College ⎮www.snc.edu/go/newmba. . . . . . . . . . . . . . . . . . 26 Suttner Accounting ⎮www.suttnercpa.com. . . . . . . . . . . . . . . . . . . . . 19 TEC⎮www.tecmidwest.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 UW Oshkosh College of Business ⎮www.mba.uwosh.edu . . . . . . . . . . 18 Valley Home Builders Association⎮www.vhba.com. . . . . . . . . . . . . . . 32 Winnebago County Solid Waste Management ⎮ www.co.winnebago.wi.us/solid-waste/container-rental-program. . . 7 Wisconsin Economic Development Corp. ⎮ www.Confidence.InWisconsin.com. . . . . . . . . . . . . . . . . . . . . . . . . . . 9 NNB2B | February 2015 | 41


Key Statistics

If there are indicators you’d like to see in this space, contact our office at 920.237.0254 or email sean@newnorthb2b.com.

local gasoline prices

u.s. retail sales december

january 18................... $1.93 january 11................... $1.97 january 4......................$2.11 december 28................ $2.73 january 18, 2014......... $3.28

$442.9 billion 0.9% from November 3.2% from December 2013

existing home sales

december

u.s. industrial production

homes sold median price brown cty .....................197 ....................$139,000 Fond du Lac cty .............72 .................... $124,700 outagamie cty .............164 .................... $126,722 winnebago cty ............116 .................... $131,950 WI Dept. Revenue Collections december

$1.272 billion 4.8% from December 2013

(2007 = 100) december

106.5

0.1% from November 4.9% from December 2013

air passenger TRAFFIC (Local enplanements) dec 2014 dec 2013 Outagamie Cty. ATW....................19,065 ...... 18,624 Austin Straubel GRB................... unavail. ......unavail.

local unemployment november oct nov ‘13 Appleton . ..... 5.2% ...... 5.2% ....... 6.9% Fond du Lac . . 5.0% ...... 5.0% ........6.6% Green Bay....... 5.8% ...... 5.8% ........7.9% Neenah ........... 5.4% ...... 5.5%........ 6.9% Oshkosh ........ 4.8% ...... 4.8% ....... 6.2% Wisconsin ..... 4.7% ...... 4.6% ....... 6.0%

natural gas prices Prices for small businesses using less than 20,000 therms. Listed price is per therm.

january..................... $0.566 december.................. $0.751 january 2014............$0.840 Source: Integrys Energy

ism index Numbers above 50 mean expansion. Numbers below 50 mean contraction. december . . . . . . . . 55.5 november. . . . . . . . 58.7

ethics and conduct for professional engineers Professional Engineers earn your 2 required Ethics PDH’s at NWTC! This PDH course is applicable to Professional Engineers licensed in the state of Wisconsin.

Thursday, February 26 4:00pm-6:00pm NWTC Corporate Conference Center Cost: $69

DON’T MISS THIS OPPORTUNITY. REGISTER TODAY! Visit https://corporatetraining.nwtc.edu Call Christine at 920-498-6876 or email christine.schillinger@nwtc.edu QUESTIONS 42 | February 2015 | NNB2B

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Learn more about the carriers who offer this innovative new product and if your business is eligible. The Aurora Network is available to most self-insured groups of 250+ and fully insured groups through Aetna and Anthem Blue Cross Blue Shield. Aetna is the brand name used for products and services provided by one or more of the Aetna group of subsidiary companies. Anthem Blue Cross and Blue Shield is the trade name used by Blue Cross Blue Shield of Wisconsin and Compcare Health Services Insurance Corporation, independent licensees of the Blue Cross and Blue Shield Association.

The Aurora Accountable Care Network is now The Aurora Network. x47961 (01/15) ©AHC

February 2015  

regional magazine, mergers and acquisitions, insurance, financial planning, health care, business information

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