The Milwaukee Post

14 • Milwaukee County Post • May 30, 2014 BUSINESS BRIEFS Zywave acquires company WAUWATOSA – Zywave Inc. said Tuesday it has acquired FutureOffice Network, in addition to the assets of its par- ent company, Davidson Marketing Group. Terms of the deal were not disclosed. With the acquisition, Wauwatosa-based Zywave is adding 40 insurance agencies as customers, according to a statement released by the insurance software provider. The acquisition will allow Craig Davidson, who founded Davidson Marketing Group in 2004, to devote more time to teaching business at the University of Wisconsin – Milwaukee and writing his monthly column in "Employee Benefit Advisor" magazine, according to the state- ment. Zywave has more than 2,700 insurance brokerage clients, including 93 of the top 100 U.S. insurance firms. www.zywave.com Crowdfunding begins this weekend MILWAUKEE – New legislation will allow Wisconsin businesses to raise money through Internet crowdfunding websites. The new law, effective Sunday, allows a Wisconsin business to raise up to $1 million from state investors through crowdfunding portals, according to a statement. If the issuer has had an audit in its most recent fiscal year and has provided the audit to prospective investors and the Department of Financial Institutions, the amount can be increased to $2 million, the statement said. In order to qualify for the exemption, issuers must first file a notice with the DFI's securities division through its web- site at least 10 days before commencing and offering. According to the statement, issuers must also comply with the intrastate exemption under federal law, provide a quarterly report to investors, and not be subject to the "bad actor" disqualifi- cations under federal securities laws. Any single purchaser may invest a max- imum of $10,000 in a single crowdfunding offering, unless the purchaser is an accred- ited investor or a certified investor, accord- ing to the statement. www.wdfi.org Brady posts drop in 3Q income MILWAUKEE – Brady Corp. said last week its third-quarter net income from con- tinuing operations was down 7 percent. The Milwaukee-based company reported net income from continuing operations of $20.2 million, or 37 cents per share, com- pared with $21.7 million, or 42 cents per share, for the same period a year ago. Net sales increased 2 percent to $309.6 million from $302.5 million, according to the manufacturer of signs, labels and other security systems and products. Brady Corp. said it received a cash pay- ment of $53 million on May 1, the day after the quarter ended, due to the completion of the first stage of the sale of its die-cut unit. The sale resulted in Brady selling business- es in Germany, Thailand, Korea and Malaysia. www.bradycorp.com Rexnord posts 4Q earnings increase MILWAUKEE – Rexnord Corp. said last week its fiscal fourth-quarter net income increased 67 percent. The company said net income rose to $40 million, or 39 cents a share, from $23.9 mil- lion, or 24 cents, a year earlier. According to the Milwaukee-based maker of equipment used in the motion control and water management industries, sales rose 5.4 percent to $569.7 million from $540.3 million. In addition, income from continuing operations increased 10 percent year over year to $280 million, the company said. www.rexnord.com Bon-Ton posts 1Q loss MILWAUKEE – Bon-Ton Stores Inc. last week reported a first-quarter loss of $31.5 million, or $1.63 a share, compared with a loss of $26.6 million, or $1.41, last year. The company attributed its wider first- quarter loss to sales dropping amid bad winter weather. According to the company, which has dual headquarters in Milwaukee and York, Pa., sales fell 6.1 percent during the first quarter, to $607.5 million from $646.9 mil- lion. In addition, sales at stores open at least a year decreased 5.8 percent. Bon-Ton operates 272 department stores, which includes 10 furniture galleries, in 25 states. It is the parent company of Bergner's, Boston Store, Carson's, Elder- Beerman, Herberger's and Younkers. www.bonton.com Johnson Control names team GLENDALE – Johnson Controls Inc. has elected two of its corporate officers to relo- cate to Shanghai to help lead the company's new China venture. The Glendale-based company announced that Beda Bolzenius, who runs the company's car seating business, will lead corporate activities in Shanghai as vice chairman, Johnson Controls Asia Pacific, according to a company statement. Since 2005, Bolzenius has led the car seat- ing and interiors business. According to the statement, Bolzenius will be the company's lead executive for the China-based auto parts joint venture, which is a combination of Johnson Controls' interiors parts business, as well as that of a subsidiary of China's largest car company, Shanghai Automotive Industries Corp. Susan Davis, chief human resources officer, will also relocate to Shanghai. She has been executive vice president of human resources since 2005. www.johnsoncontrols.com Potawatomi Bingo sets job fair MILWAUKEE – Potawatomi Bingo Casino is holding job fairs to help fill 250 positions at its hotel, set to open this sum- mer. There will be a job fair from 3 to 7 p.m. Monday, and an additional job fair from 10 a.m. to 4 p.m. June 14, according to a state- ment. Both job fairs will be at its expo cen- ter in its Menomonee Valley casino in Milwaukee. The job positions for the $150 million, 381-room hotel include door attendants, bell persons, front desk staff, hotel room atten- dants, valets, maintenance, and food and beverage, according to the statement. Onsite interviews and job offers may be extended at the event, according to the statement. www.paysbig.com Quad/Graphics acquistion passes SUSSEX – Quad/Graphics plans to close on its acquisition of Brown Printing Co. in the next few weeks, according to a company statement. Quad/Graphics announced that the acquisition cleared federal review, paving the way for the Sussex-based company to buy Brown Printing, a Minnesota-based printer of magazines and catalogs, for $100 million. The transaction's mandatory waiting period for antitrust review expired Monday with no action taken by the Federal Trade Commission, the statement said. Quad/Graphics is purchasing the company from Gruner & Jahr GmbH & Co., a German printing and publishing firm. The acquisition is expected to enhance Quad/Graphics' position in the printing industry, the company said. Brown Printing, established in 1949 in Waseca, Minn., has printing facilities in Waseca; East Greenville, Pa.; and Woodstock, Ill. www.qg.com Downtown hotel finishes renovation MILWAUKEE – The Courtyard Milwaukee Downtown's $2.1 million reno- vation is complete, according to a state- ment. The Courtyard Milwaukee Downtown, 300 W. Michigan St., renovated its 169 guest rooms, which now include new bed- ding, a functional work space, separate seating area, large bathrooms and compli- mentary in-room Inter net access, the statement said. The lobby area is also sporting a new look, which now includes media pods, complimentary wireless Internet and The Bistro, a casual restau- rant, according to the statement. Courtyard is a limited-service Marriott brand. Marriott International Inc. is a leading hospitality company with more than 3,900 properties in 72 countries. www.marriott.com File photo Potawatomi Bingo Casino plans two job fairs to fill positions for its 381-room hotel.

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