BizTimes Milwaukee | January 23, 2023

With a little bit of creativity, you can turn your anniversary from just another date on the calendar into an opportunity to share your story – and celebrate your success with BizTimes’ exclusive audience. It’s a chance to talk about why you started your business in the first place, where you’ve been, what you do, what makes you different, and what your plans are for the future. You can thank your employees and clients who’ve helped you reach this milestone.

HealthCare leaders and employees rang the opening bell for the Nasdaq stock exchange on Jan. 4, marking the completion of its spinoff.

GE HealthCare completes spinoff, committed to Waukesha and investing in West Milwaukee

By BizTimes Staff

Earlier this month, Chicago-based GE HealthCare marked the completion of its spinoff from General Electric Co. by ringing the opening bell for the Nasdaq stock exchange from the production floor of its facility in Waukesha. The company is spinning off

BY THE NUMBERS

from GE with about 51,000 employees and nearly $18 billion in annual revenue.

Peter Arduini, president and chief executive officer of GE HealthCare, joined with company executives and employees to remotely ring the opening Nasdaq

bell, calling it “an incredibly exciting day.” The company also joined the S&P 500.

“We’re bringing the best of our GE heritage to a more focused, agile, customer centric and digital approach,” Arduini said. “We are on the verge of true industry transformation as digital innovation reshapes the experience of patients and providers with an increased need for more precise, connected, and efficient care.”

By choosing to celebrate its status as a newly independent company with a ceremony in Waukesha, GE HealthCare demonstrated the importance of the facility and the company’s commitment to it. That’s a shift from two years ago when it listed the property for sale.

In 2020, the company announced plans for a major investment in its West Milwaukee facility and said it planned move 1,500 jobs to that facility and its Wauwatosa location. Most of those jobs were to be moved from Waukesha.

The company later listed its 561-acre campus in Waukesha for sale. The campus consists of seven buildings and 1.2 million square feet of space.

But by the end of 2021, the company had changed course and pulled the Waukesha campus off the market.

GE HealthCare has more than 5,200 employees in Wisconsin and more than half of them are

based in Waukesha, where the company does research, design, development and manufacturing of imaging equipment, such as molecular imaging (MI), computed tomography (CT), magnetic resonance and X-ray.

The company has still moved forward with improvements to its West Milwaukee facility, where it manufactures components for molecular imaging and CT equipment. It has added more than 200 production jobs there since 2020 to meet the increased demand for CT equipment components and has invested more than $60 million in the facility for CT detector and X-ray tube capacity expansion, according to a company spokesperson. The company plans to add a 40,000-square-foot expansion to the east side of the facility, located on Electric Avenue, this year to accommodate the need for increased CT manufacturing capacity.

“(GE HealthCare’s West Milwaukee facility) has received more investment than any of our other med tech manufacturing sites globally,” the company spokesperson said. “We plan to continue investing in manufacturing capacity at this site to meet continued global demand.”

The company is keeping its position emission tomography (PET) and MI operations in Waukesha to focus the West Milwaukee facility on CT and tube production. n

GE

Tulsa, Oklahoma-based Hubbell Gas Utility Solutions will permanently close its New Berlin facility on Ryerson Road, putting employees out of a job.

LunchBiz

CITY MARKET CAFÉ AND BAKEHOUSE

ADDRESS: 2205 E. Capitol Drive, Shorewood 8700 W. Watertown Plank Road, Wauwatosa

WEBSITE: thecitymarketcafe.com

CUISINE: American; all-day breakfast

OWNERS: Jeff Swanson and Julie Hollingsworth MOOD: Comfortable and convenient

PRICING: Lunch sandwiches and salads, $10-14; market bowls and burgers, $9-13

With two locations – its flagship in Shorewood and a storefront in Wauwatosa – the City Market Café and Bakehouse is a go-to for younger professionals craving a quick bite.

Whether it’s for brunch or a more traditional lunch, the cafe offers freshbaked goods and house-made eats. Popular items on the menu include the breakfast wrap, which includes a sweet jalapeño dressing, and the cranberry turkey sandwich. Also top sellers are the large variety of bars, tortes, muffins, cookies, scones and bread made from scratch.

“Our café is a great place for people to have lunch and a meeting after,” said Nick Grafenauer, general manager of City Market’s Shorewood location. Most tables seat two to four, but there are several that comfortably seat eight.

Because the restaurant does not take reservations, some local business customers opt for take-out group orders.

Three buttermilk pancakes griddled using house-made batter, maple syrup and garnished with fresh strawberries. Served until 11 a.m.

The exterior of the flagship storefront in Shorewood features gold lettering and cream-colored bricks.

Served in a multigrain tortilla or as a bowl, the Morning Wrap includes two scrambled eggs, guacamole, pepper jack cheese, brown rice, sweet potatoes, red peppers, black beans, sweet jalapeño dressing and salsa.

“I ultimately decided I wanted to go the franchise route because my background was exclusively in wildlife, and I really had no business background to speak of.”

the FRANCHISEE

West Allis-native Marcus Mueller is Skedaddle’s first U.S. franchisee.

MARCUS MUELLER SKEDADDLE HUMANE WILDLIFE CONTROL

THE FRANCHISE: Ontario, Canada-based Skedaddle Humane Wildlife Control aims to protect homes from bats, rodents, birds, squirrels, skunks and raccoons, without causing harm or distress to wildlife. Founded by Bill Dowd in 1989, Skedaddle offers its wildlife prevention, pest control and restoration services in 25 markets, largely in Canada and now in three U.S. markets all located in Wisconsin.

2011:

While earning an undergrad degree in wildlife biology at the University of Wisconsin-Stevens Point, Marcus Mueller landed an internship at the Wisconsin Humane Society, answering its wildlife hotline and assisting with urban wildlife encounters. The experience planted an initial seed that would later grow into a business.

2015:

During graduate school at UW-Madison, Mueller stumbled upon Skedaddle. The concept was similar to the wildlife control business idea he had once envisioned. The company didn’t have operations outside of Canada at the time, but it planned to expand into the U.S. eventually. Mueller kept in touch, laying the groundwork for a deal.

2017:

Skedaddle opened for business in Milwaukee and Lake Country, marking the brand’s U.S. debut. About six months later, Mueller hired his first employee.

2020: Mueller opened a third franchise location, in Madison. Today, the business has nine employees between the Milwaukee, Lake Country and Madison territories.

THE FRANCHISE FEE: $49,500

“It opened my eyes to the need for a good service to provide humane, long-term wildlife removal for people experiencing these issues. Most wildlife control is done in a trap-and-remove or relocate method, which can provide some great solutions for homeowners, but it doesn’t necessarily do anything about the fact that there was a hole in the house that invited these animals in.”

During an average week, Skedaddle’s wildlife technicians visit one to two houses a day.

Skedaddle’s Wisconsin team.

The latest area economic data.

The Milwaukee-area manufacturing index rose from 44.74 in November to

45.42

in December. However, a reading below 50 suggests the region’s manufacturing sector is contracting.

on my nightstand...

MIKE HOBBS President Uzelac Industries

By Chris Tuff

More than

5 million

passengers were served at Milwaukee Mitchell International Airport during the first 11 months of 2022, an increase of 23.3% over 2021.

Wisconsin’s labor force participation rate dropped to

64.9%

Wisconsin’s seasonally adjusted unemployment rate remained unchanged at

3.3%

in November.

in November.

AS MIKE HOBBS, president at Greendale-based Uzelac Industries, has gotten older, he’s found it increasingly challenging to engage effectively with younger workers. That’s why he was attracted to the book “The Millennial Whisperer: The Practical, Profit-Focused Playbook for Working With and Motivating the World’s Largest Generation” by Chris Tuff.

Hobbs wanted to learn more about how the millennial workforce thinks and what they value.

“Attracting, motivating and keeping skilled employees is crucial for companies in today’s business

climate,” said Hobbs. “We strive to have a culture where we’re engaged with our employees.”

With the millennial generation expected to make up 75% of the workforce by 2030, the book explores the differences between younger and older millennials and what they are looking for in work and life.

“I’m looking to get some solid ideas that I can put into practice to be less out of touch,” said Hobbs. “I know this book isn’t the silver bullet that solves everything, but it is a good starting point to being a better leader for our employees.” n

The number of homes sold in the four-county metro Milwaukee area were down 14.5% in 2022, compared to 2021.

Share your opinion! Visit biztimes.com/bizpoll to cast your vote in the next Biz Poll.

“The Millennial Whisperer: The Practical, Profit-Focused Playbook for Working With and Motivating the World’s Largest Generation”

IN THE NEIGHBORHOOD

•

What’s the history of Luther Group and this office location?

Dan Cowell, principal of Luther Group: “Jason Luther acquired the Johnson Building in Elm Grove in 2015 and relocated Luther Group operations to the building the same year. Luther Group has experienced tremendous growth since that time and now occupies 75% of the building. Located five minutes from I-94, I-41 and the Zoo Interchange, the building is ideally located to serve our clients, investors and employees. Our business model is built on strong relationships

where face-to-face interactions are critical, so the accessibility and convenience of our office is a key asset.”

Who are your clients?

“We offer commercial real estate development, investment, brokerage, asset/ property management, and owner’s representation services for companies in the industrial, manufacturing, health care, office and retail markets. We also serve individuals in our multi-family residential units and capitalize real estate developments and

investments with outside investors. Our clients and investments are mainly located in Wisconsin and Chicagoland.”

What is it like to work at Luther Group?

“Team members are given latitude to conduct business in their own unique way so long as our clients are served at a high level. This trust provides an environment where our team cares about both the client and our company. The entire staff at Luther Group ‘works to live’ and prioritizes work as being only a part of their lives.” n

M&A 2023: Navigating the Road Ahead

value, timing, managing the transition and other related experiences that will help you navigate through the process of selling and buying a business.

Following the panel, attendees can attend tactical breakout sessions further diving into topics that today’s buyers or sellers need to know, including:

• Lessons from the Rearview Mirror – A buyer’s reflection on the journey behind them.

• A Roadmap to Higher Business Value

• Emerging legal trends in M&A that every buyer and seller should consider

•

•

owners will share their best practices and lessons learned related to building

The program ends with a networking reception, where you can interact with the speakers and your peers.

Whether you are a buyer, a seller, or a seasoned M&A professional, this conference will provide valuable insights and tools to help you succeed.

This Q&A is an extended profile from Wisconsin 275, a special publication from BizTimes Media highlighting the most influential business leaders in the state. Visit biztimes.com/wisconsin275 for more.

Tommy Thompson

CEO Thompson Family Holdings | Madison

The longest-serving governor in Wisconsin state history, Tommy Thompson also holds the record for being the only politician to be elected to that office four times. His tenure (1987–2001) was marked by reform of the state’s welfare system, his involvement in the creation of Milwaukee’s school voucher system and passage of legislation to fund construction of American Family Field (then known as Miller Park) in Milwaukee. Thompson served as chairman of the Republican Governors Association and of the National Governors Association in the 1990s. He was then appointed U.S. Secretary of Health and Human Services under then President George W. Bush, from 2001-2005.

Most recently, Thompson served as interim president of the University of Wisconsin System from 2020 to 2022, filling in when former president Ray Cross retired.

Thompson is the chairman of the board for Milwaukee-based Physicians Realty Trust, a health care real estate investment trust. He was named to the board in connection with the REIT’s initial public offering in 2013. In 2021, Physicians Realty Trust acquired more than $1 billion in outpatient medical office facilities, bringing its gross real estate investments to just less than $6 billion while growing its total portfolio to more than 16 million rentable square feet.

Thompson also currently serves on the board of United Therapeutics Corp. and as executive chairman of TherapeuticsMD Inc. From 2005 until 2009, Thompson served as a senior advisor for Deloitte & Touche USA LLP and was the founding independent chairman of the Deloitte Center for Health Solutions. From 2005 to early 2012, he served as a senior partner at the law firm of Akin Gump Strauss Hauer & Feld LLP. He served as chairman of the board of Logistics Health from January 2007 to May 2011 and served as president from February 2005 to January 2011. Thompson served on the board of directors of Centene Corp. from 2005 to 2022. He also was formerly a board member for C.R. Bard Inc., Cytori Therapeutics Inc., Cancer Genetics Inc., CareView Communications Inc., and Tyme Technologies Inc.

Education: Bachelor’s and J.D., UW-Madison

What was your first job, and what did you learn from it?

“Cleaning eggs in my father’s grocery store at age 5. It was a smelly job, someone had to do it and my father thought I was the right person to do it.”

What piece of advice has had the most significant impact on your career?

“My father’s advice: Two ears and one mouth – use in that proportion and you’ll get along well.”

If you could have dinner with any two business leaders, who would you choose and why?

“Elon Musk and Steve Forbesthey are unique individuals that follow their own leadership.”

What are some of your favorite places to visit?

“Any state capitol in the U.S. Internationally: Ireland, England, France, Italy, Germany.”

What is one book you think everyone should read?

“The Bible”

What’s your hobby/passion? “Farming”

What is your favorite Wisconsin restaurant and what do you order there?

“Ishnala Supper Club (in Lake Delton) – old fashioned and filet steak or walleye.”

What would people be surprised to learn about you?

“I cry very easily and am extremely caring and compassionate.”

What was your first car? How long did you drive it?

“1947 green Chevy. Drove it for four years in high school. Named it Sputnik.”

If you could take a one-year sabbatical, what would you do? “Bicycle across America, sail to Africa, hike the Ice Age Trail and the Blue Ridge Mountain Trail.”

What’s the toughest business challenge you’ve had to overcome? “Helping keep struggling companies from entering bankruptcy.”

What advice would you give a young professional?

“You have to be willing to make a decision and take responsibility, and you have got to listen to others while making decisions on your own.”

What is one thing you would change about Wisconsin to make it even better?

“The government. The control of state government.”

Is there a nonprofit cause that has special meaning to you?

“Wisconsin Women’s Health Foundation”

What is the biggest risk you’ve ever taken?

“Buying my first farm when I had no money.”

What’s at the top of your bucket list?

“Increase civic awareness in Wisconsin and America.”

What has you most excited about the future?

“My children and grandchildren.”

Be Part of Shaping Education in Milwaukee and Your Future Workforce

INSPIRE. CONNECT. LEARN

You may already support a high-performing school and you know about the great work occurring with many of the Milwaukee’s high-performing schools as they are preparing our future workforce. However, if you are curious and want to learn more, join us at the Milwaukee Education Spotlight event on February 23, 2023.

BizTimes Media’s Milwaukee Education Spotlight event will introduce and connect high-performing schools in Milwaukee and their leaders with the broader business community in the region. It will feature education and business leaders and schools that are having success across education sectors. They will share insights about what works, existing challenges and how businesses can become more involved.

Confirmed speakers:

Abby Andrietsch, President & CEO, St. Augustine Preparatory Academy (1)

Bruce Arnold, Partner, Husch Blackwell (2)

Krysta DeBoer, Executive Director, Center For Urban Teaching (3)

Brittany Kinser, President/Executive Director, City Forward Collective (4)

Topics discussed will include:

Academic performance, board development, Choice, Charter, high performing MPS, employer partnerships, funding, teacher development, trades & stem, volunteers, tutors, and more.

Program elements will include:

A presentation on the state of education in the city Presentations from education and business leaders

Focused discussions offering a deep dive on successful models Networking, introductions and action steps to support and get involved

Anthony McHenry, CEO, Milwaukee Academy of Science (5)

Michelle Morris-Carter, Principal, Golda Meir School (6)

Robb Rauh, CEO, Milwaukee College Prep (7)

Andrea Roberts, Program Administrator, GPS Education Partners (8)

Now: biztimes.com/MKEEDU Sponsorships are available – please email advertise@biztimes.com

INN VATI NS

Lillipad provides remote employees a solution for flex space at home

By Ashley Smart, staff writer

WAUKESHA-BASED Lillipad Work Solutions Inc. is offering workfrom-home consumers a desk to meet their unique needs.

Colin Dowdle, co-founder and chief executive officer of Lillipad, is no stranger to the world of entrepreneurship. He’s used his years of experience to create a first-of-itskind, portable, height-adjustable desk, built with remote workers in mind. His path toward the creation of Lillipad is several years in the making, dating back to his freshman year at Marquette University in 2013.

At the time, his cousin was working to launch a Chicago-based tech startup, known then as Pressbox, which provided on-demand dry cleaning services. Dowdle initially spent some time with the startup as an intern.

“My eyes were opened up to the world of entrepreneurship while I was working at Pressbox during their pre-revenue days,” Dowdle said. “Being at the hip of the two co-founders of Pressbox was pretty cool to witness firsthand.”

He further bolstered his entrepreneurial skills while at Marquette by creating his own business, Wakes 2 Flakes. After building his own above-ground skating rink in his hometown of Glenview, Illinois, Dowdle began receiving requests from neighbors looking to have rinks created for their own children. Every weekend, he would take Amtrak back to Glenview to build rinks.

“I had a little red truck, and I

hired some of my buddies to help me install these above-ground rinks. Marquette was a huge supporter of my entrepreneurial path,” said Dowdle.

After graduating in 2017, Dowdle returned to Pressbox, which had recently been acquired by Procter & Gamble and renamed Tide Cleaners. He led the launch of the company in the Milwaukee market, later returning to Chicago to help the rest of the team. While living in an apartment with two other people who were also working from home, Dowdle quickly realized space was hard to come by.

“I went online to find a height-adjustable table and stopped myself with a few questions, like, ‘Where was I going to put this clunky, non-portable desk in a three-bedroom apartment with two other stakeholders?’” said Dowdle. “I can’t selfishly designate space in the living room for my permanent setup.”

In January 2020, he began pondering the idea of a height-adjustable table that is built for home offices and is also portable. Three months later, the pandemic struck

and Dowdle hit the garage with his father, Jim Dowdle, who is his co-founder. Two years later, their product went live.

Dowdle said having his dad as his co-founder came about naturally. His father had recently retired after spending more than 25 years with Scripps Networks. When presented with the idea of Lillipad, Jim Dowdle “immediately turned to B2B solutions for remote workforces,” said Colin.

“We had a couple goals. They were to be designed for the home, rather than a commercial office. Ease of assembly was one goal. Third was portability. The ability to store this unit when needed and really emphasize that work-life balance. The fourth component was integrated accessories,” Dowdle said.

A Lillipad desk, which ships fully assembled, is height-adjustable and features integrated power outlets, monitor mount and surge protector. The desk can roll to whatever location a user needs it and can collapse for storage under a bed or couch.

“The most common reason

remote workers don’t have an ergonomic productive workstation is due to an unwillingness to sacrifice permanent space,” said Dowdle. “Lillipad solves the space problem while providing a world-class office setup. Receiving positive feedback after upgrading users from a kitchen counter or table to a sitstand workstation with two 27-inch monitors never gets old.”

The company closed its seed round at the end of last year and raised $1.2 million, according to a filing with the Securities and Exchange Commission. The seed funding will be used to scale the business and add new employees. n

Lillipad Work Solutions Inc.

Waukesha

INNOVATION: Portable, height-adjustable desk for remote workers

FOUNDERS: Colin and Jim Dowdle

FOUNDED: 2020 lillipad.com

Jim and Colin Dowdle.

the Interview

TWO LEADERS in the local design and construction industry joined forces last year when Nashotah-based design and construction firm MSI General Corp. acquired Milwaukeebased architectural firm Tredo Group LLC. The deal marked seven years since Jeff Tredo launched his firm as a spinoff of Korb Tredo Architects Inc. (now known as Korb + Associates Architects), which he co-founded in 2006. MSI General was founded in 1957 and is led by Ken Krahe, who took the helm as president in 2019 shortly before longtime chief executive officer Dirk Debbink stepped down to assume a new role as chairman. BizTimes Milwaukee associate editor Maredithe Meyer sat down with Krahe and Tredo, who’s now vice president – director of design at MSI, to discuss the acquisition and its impact on future growth. The following conversation has been edited for length and clarity.

BizTimes: What’s the story behind MSI General’s acquisition of Tredo Group?

Ken Krahe, president: “We’ve known each other for quite a while, but what really kicked off the discussions about the partnership was that we’d been in a (Metropolitan Milwaukee Association of Commerce) executive roundtable group together, and Jeff was considering a couple of options with Tredo Group. When I heard that, it piqued my interest because a lot of the types of projects and types of clients that he worked for were very similar to our client base, so the fact that he was considering options, I threw one more at him to consider.

“Even though it’s contractually an acquisition, we’ve looked at it from day one as a partnership, a merging and a blending of two strong companies: Tredo Group as a design engineering firm and MSI general as a fully integrated design-build general contractor. The skill sets, clients and approach we have to projects was very similar, so it’s really a natural partnership.”

Jeff Tredo, vice president – director of design: “Being part of the MMAC roundtable group, Ken watched me go through and entertain a couple of different merger discussions, formally and informally,

and really what I appreciated was he didn’t interfere with those. He let them play out, and I think that’s where we both realized there might be a really strong opportunity here that I wasn’t necessarily expecting, but when it was posed to me as an opportunity (in the fall of 2021), I really took a step back and looked at everything personally and professionally, my family and where I’m working, the kinds of projects, the kinds of work they’re doing, and it just seemed like an amazing fit. It came together fairly quickly.”

BizTimes: Jeff, what was most attractive about MSI as a buyer?

Tredo: “(Tredo Group was) in growth mode but also sort of in startup mode without a lot of resources. So right about then, I knew that my firm and the work I was doing was much larger than me or a handful of other people. So, the question was how to combine that with another firm that was going to be the right fit. I was definitely interested in becoming a part of something more established. As fun as it is to wear all the hats and be in startup mode, it’s not as glamorous as everybody might think all the time. I needed a little more balance with not only my family, but also some of my clients.

“MSI General is so well established and well run and organized. ... That was really attractive to me, too, to have so many of those systems and processes in place, and the core values meshed perfectly with what I was all about with my projects and clients. As a startup, you have an eye on what you want to become and that level of stability and organization, and here was an opportunity to have it immediately.”

Ken Krahe and Jeff Tredo president | vice president - director of design

MSI General Corp.

W215 E. Wisconsin Ave., Nashotah msigeneral.com

BizTimes: You’ve both talked about overlaps in your target market. What types of companies make up your client base and how does joining forces strengthen those relationships?

Krahe: “One of the benefits of the partnership is it doesn’t change our ideal clients; it doesn’t change our target markets. It really complements our current client base. MSI General has a long history (with clients) in the industrial and manufacturing sector, which Tredo Group has great experience with. Certainly, the religious or private education office projects, Tredo Group is very strong in those and has a long history of executing a lot of those projects very well. It’s very complementary bringing the two companies together, and that’s what has led to some short-term successes early on because we’re not trying to change either of us. We’re not trying to do something different. We’re really sticking to our core values of who we are, and that has really led to this transition period being very short and letting us continue to push forward.”

Tredo: “We know where our sweet spot is and a lot of that has to do with companies and organizations that are really at the top of their game. They’re leading their industries and we’re supporting them in that effort.”

It sounds like the acquisition has already yielded positive results. What are some of the early or short-term gains you’ve seen so far?

Tredo: “One of my first weeks here, we chased a project that was a new school expansion for a private school campus. It was on my radar at Tredo Group for a couple of years, and it was a referral that came to MSI General independent of me. We went in together and interviewed against a few other strong teams in the

marketplace, and we were the unanimous selection. We would have been in competition with each other in the past; now we’re putting those things together, and we’re seeing it’s well received in the marketplace.”

So, the response from clients has been positive?

Krahe: “I’ve gotten nothing but compliments (on) the partnership, and it’s also fun when you show up at a meeting with Jeff and they’re surprised to see him, which is exciting. All good surprises.”

BizTimes: What projects are you most excited about this year and beyond?

Krahe: “We’re very excited about the opportunities that we have in front of us; there’s a lot of good dialogue and a lot of good momentum in a forward direction. Certainly, there are some supply chain issues and some labor issues that we’re navigating just as everyone else is, but with our teamwork and truly our partnership model with not only our clients but our subcontractors and our other consultants, that transparent communication is what leads to successful outcomes. I’m very excited about the future, I think for 2023 and beyond we’re in a really good place, and we’ve got a lot of good momentum to having continued success.”

Tredo: “A lot of the work that I’ve done with places like charter schools or private operators in Milwaukee – whether it’s Wisconsin Lutheran High School, St. Marcus (Ministries), Eastbrook Academy or Milwaukee College Prep – those are all entities that are planning more projects, and we’re able to keep doing some of that planning work.” n

Check out the full conversation at biztimes.com/msigeneral

Increased capital, construction costs slowing new construction

Some sectors faring better than others

WITH UNCERTAINTY abounding, divining what 2023 could hold for the construction industry in southeastern Wisconsin has industry leaders trying to get a clear picture of what lies ahead.

BizTimes Milwaukee recently spoke with executives at six development and construction firms in the region, and despite the universal impacts of supply chain bottlenecks, labor shortages, inflation and higher interest rates, most had different stories to tell about what they’re expecting across various sectors.

SCHOOLS, CLINICS AND HOSPITALS

At construction firms C.G. Schmidt, based in Milwaukee, and The Boldt Company, based in Appleton, 2023 is shaping up to be a busy year.

That’s partly because they count public and nonprofit institutions among their biggest clients – entities like public school

districts and hospitals that don’t have to rely on commercial banks and private lenders to fund their projects.

“For us, broadly speaking, 2023 is shaping up to a be a better year than 2022, and we think 2024 will be even better yet,” said Eric Schmidt, president of C.G. Schmidt. “Our institutional clients, like health care, they are moving ahead regardless of what is happening right now. During the pandemic, virtually all of them hit pause or stop on their capital projects, and now they are all starting up again. … Our K-12 group is also seeing a lot of activity. We got three referendums passed in November 2022, and we have a bunch coming up in April; then there will be more in April 2024 and November 2024.”

While schools take out bonds to fund their building projects –borrowing against their property tax levies – and are seeing some of the impact of the Federal Re -

serve’s efforts to curb inflation by raising interest rates, many of C.G. Schmidt’s clients keep a close eye on those markets and just end up building those potential costs into capital planning.

The company has plenty of work planned for this year, including in Racine, where it is the construction manager overseeing work being funded by the Racine Unified School District’s $6 million referendum.

John Huggett, vice president of central operations at The Boldt Company, is also expecting this year to bring demand for construction services.

“We are not seeing the stops of projects, which is great. The institutional clients that are either funding their projects with cash or bonds, or the like, those projects, if they are in the queue, certainly they are still moving through the system,” said Huggett, whose firm does a lot of work with hospitals and clinics.

Speculative office developments, like Innovation One, the 70,000-square-foot office building recently developed by Irgens at the UWM Innovation Campus in Wauwatosa, will be unlikely in 2023, say developers, especially with increased borrowing costs.

While some health care clients are still in a holding pattern, trying to determine their post-pandemic capital outlay needs, most are moving forward, he said.

“Children’s Wisconsin is still a significant client for us,” Huggett said.

DIVERSIFICATION KEY

For both firms, having a diverse portfolio of clients across all sectors is key. Boldt also does a lot of work in the industrial food and beverage production markets, while C.G. Schmidt does a lot of multifamily work as well as some office building construction.

“Certain market sectors are much more sensitive to (market swings), so as an organization we certainly focus on market sector diversification just to be able to take advantage of those opportunities when the conditions are good, and then conversely when conditions aren’t as good you are buoyed by another sector,” Huggett said.

That’s especially been true as a tougher commercial borrowing market and inflation has seen some multifamily developers hit pause on their projects, Schmidt said.

“The school projects kind of fill in that void (left by private developers), so it can be a nice counterbalance to some of the more volatile markets we are involved in,” he said.

INDUSTRIAL, OFFICE

If there is one thing higher interest rates have wrought across nearly all the industries, it’s a near stoppage of speculative development: that’s especially true in the industrial and office sectors.

While 2021 and 2022 saw some developers return to constructing large, speculative industrial buildings along interstates and

CARA SPOTO

Projects funded by public entities, like Milwaukee County’s new Mental Health Emergency Center at 1525 N. 12th St. in Milwaukee, which CG Schmidt and JCP Construction completed last year, are expected to remain largely unscathed by spikes in commercial interest rates.

other major thoroughfares, any projects being planned for 2023 likely won’t gain financing unless a tenant is lined up.

“We have already watched a lot of spec development pulled off the market due to the cost of borrowing,” said Adam Matson, an industrial real estate broker and director in Newmark’s Milwaukee office. “Basically, there are only two groups that are doing industrial spec development right now: developers that locked in their financing before rates went up, and groups that are financing their deals almost entirely with cash. It is going to be extremely limited.”

That’s also true of office developments, said Tom Irgens, executive vice president of Milwaukee-based Irgens. While the company just moved into its recently completed two-story, 70,000-square-foot office building at the UWM Innovation Campus in Wauwatosa, the firm has no current plans to build any more speculative office buildings on the campus or anywhere else for that matter – with the exception of some medical office buildings. The development already includes a two-story parking structure that was completed as part of the first

phase of the development, but a six-story office building will have to wait until a large tenant is lined up, Tom Irgens said.

The firm had always planned to hold off on construction of the larger building until a flagship tenant was landed, but that part of the project is even more key now with increased borrowing and construction costs.

“I think the existing office portfolio, especially the Class A, is doing really well, but do I really see us starting new office projects more on a speculative basis? Not without a significant commitment for a pre-tenant,” Irgens said. “We have a lot of great opportunities that are out there, but I think the financing and the interest rate environment is a bit of a perfect storm right now.”

MULTIFAMILY

In the multifamily sector, the higher cost of borrowing and rising construction costs might not be pausing all projects, but it is requiring developers to spend a lot more time lining up financing.

“All of a sudden, I’m spending a lot more time trying to understand what lender and investor expectations are now and what

they will be, say, six months from now, and the best people can tell you what they are right now,” said Tim Gokhman, managing director of Milwaukee-based development firm New Land Enterprises. “And that’s different because, COVID aside, for the last however many years the expectations were much easier to anticipate. We knew what the market conditions were and so we knew what a project would have to achieve economically in order for lenders and investors to say, ‘OK.’ Now, we don’t.”

Increased project costs are also impacting developers’ ability to provide more middle-range, market-rate apartment buildings, said Gokhman, whose firm is the developer behind the new Ascent, a hybrid mass timber apartment tower at 700 E. Kilbourn Ave. in downtown Milwaukee

“The majority of buildings being built, unless they are subsidized, are the really high-end products, because that is what the construction costs are right now,” he said. “It is a challenge, when the only thing you can produce that is market rate is the highest-end product.”

Stewart Wangard, chairman and chief executive officer of Wau -

watosa-based Wangard Partners, also sees the impact of rising construction costs on market rates as an issue. That’s why the company is putting more of its own equity and that of its investment partners into projects these days.

“If we don’t find a way to reduce construction costs, there will be fewer buildings being built, but if we can figure out a way to deliver a project faster and maintain quality, that is one way to address the affordability issue,” Wangard said. “We can still deliver competitive returns, but we have to put a lot more capital in. We can’t rely on borrowing as much from our lenders.” n

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Economic Trends 2023

Turbulence ahead?

Dragged down by inflation and supply chain woes, the U.S. economy got off to a bad start in 2022, with declining economic growth as U.S. GDP fell 1.6% in the first quarter and 0.6% in the second quarter.

However, U.S. GDP rose 3.2% in the third quarter and the latest projection from the Federal Reserve Bank of Atlanta indicates U.S. GDP rose 4.1%

in the fourth quarter. But despite the improved performance for the economy in the second half of 2022, many economists are projecting a recession in 2023. Inflation remains a major problem.

Although the U.S. year-over-year inflation rate dipped to 6.5% in December from its recent peak of 9.1% in June, inflation continues to eat into the purchasing power of consumers and is much higher

than the 2% rate targeted by the Federal Reserve.

The Fed has been hiking interest rates since March in an attempt to fight inflation. While the dip in the inflation rate suggests some progress has been made, the full impact of rising interest rates could be felt in 2023 as more expensive borrowing costs slows economic activity.

Meanwhile, the labor market remains ex-

tremely tight with the U.S. unemployment rate at 3.5%. That’s good news for workers, obviously, and the healthy labor market could be the most important factor to help the economy weather the storm and avoid a severe recession. But the tight labor market also continues to cause major problems for businesses that are struggling to find the workers they need, and the worker shortage is putting upward pressure on wages.

So, is it time to batten down the hatches, buckle our seat belts and prepare for economic turbulence ahead in 2023? It’s hard to say for certain.

“Normally, this looks like a sure recipe for recession if the Fed is truly intent on getting inflation down to 2% as quickly as possible. But this is not a normal (economic) cycle,” said Michael Knetter, an economist and president and chief executive officer of the University of Wisconsin Foundation. “We are emerging from a global pandemic, which was a highly unusual situation. We’ve had little to no experience with how a pandemic economy evolves, and that means it is challenging to get the policy response correct and difficult to make predictions.

“The pandemic was first and foremost a massive negative supply shock. The tale of 2023 will turn on whether supply can make a meaningful recovery, which would reduce the need for the Fed to reduce demand. If inflation has to be reduced solely by reducing demand, then a recession seems inevitable. If the supply side of the economy could grow due to an increase in labor force participation, it might be possible to reduce inflation without causing a recession,” he added.

Earlier in his career, Knetter served as a White House economic advisor for the George H.W. Bush and Bill Clinton administrations. Each year, he provides a macro economic outlook at BizTimes Media’s annual Economic Trends Event (to be held Jan. 26). He also annually participates in a Q&A interview with BizTimes Milwaukee editor Andrew Weiland for the BizTimes Milwaukee Economic Trends report. The following is a recap of that conversation, edited for length and clarity.

BIZTIMES: Let’s start at the top. Are we in a recession yet? If not, do you expect the U.S. economy to go into recession this year? If we are already in a recession, or are going to be in a recession, how long do you think it will last and how bad do you think it will be?

KNETTER: “While it has become a kind of rule of thumb that two consecutive quarters of decline in real GDP constitutes a recession, that is not the actual definition used by the business cycle dating committee at the National Bureau of Economic Research. A recession is identified when a broad set of conditions occur, including declining real GDP but also elevated unemployment rates. We are not in a recession now. The economy is

still growing in fits and starts, and the labor market is too strong for this to be labelled a recession.

“My best case is that we will see the economy flirt with a technical recession. Growth will weaken due to falling demand in 2023. If the supply side of the economy recovers enough, we might sneak by without a recession. But if the labor force remains below historical participation rates, the Fed will have to do more than we expect to reduce demand, and then we might see a technical recession. But I think it would be mild and brief but followed by a slower-than-normal recovery due to the headwinds facing the economy.”

BIZTIMES: It's probably safe to say inflation is the biggest concern with the economy. Since March, the Fed has been raising interest rates in an aggressive attempt to reduce inflation. What impact will those interest rate hikes have on the economy in 2023? How much longer do you think the Fed will continue to raise rates? Can you predict an endgame for the Fed?

KNETTER: “The current guidance suggests that the Fed will hike another 75 basis points into 2023, and that seems about right to me. They should reach that target by late spring or early summer. At that point, I would guess year-on-year CPI inflation is back down below 5% maybe approaching 4%. If we get a little help from more people entering the labor force, that may help them achieve the soft landing of cooling inflation without a recession.”

BIZTIMES: At what point do you think inflation will slow to a healthier, more acceptable pace?

KNETTER: “Sometime in 2024 I think we will be back to less than 3%, which feels acceptable.”

BIZTIMES: For most people, when you think of a recession, you think of people losing their jobs. But while many expect a recession in 2023, the labor market remains extremely healthy. The unemployment rate is still very low. Employers are still struggling to fill open positions. What type of recession are we going to have with such a strong job market? Have you ever seen an economic dynamic like this?

KNETTER: “As I noted before, this is the first situation of its kind we have seen. An economy emerging from a global pandemic is bound to have some unusual features. And it just may be the kind of economy where the soft landing is possible.”

BIZTIMES: With a strong labor market and persistent inflation, what is going to happen with wages in 2023?

KNETTER: “Wages will rise but the rate of increase will fall in line with the decline in inflation.”

BIZTIMES: What about the consumer? We are already seeing signs of consumer spending slowing. As prices continue to rise, how much more can consumers bear before they have to significantly cut back on spending? Are they eating into their savings and/or running up credit card debt to keep up with inflation?

KNETTER: “Fed survey data released this fall showed that household balance sheets remained in good shape. Credit card debt balances are 10% below pre-pandemic levels. However, it will be more expensive to service that debt going forward. I think we are going to see pre-pandemic balance sheets by late spring, and that will help the economy get back to a more normal pattern.”

BIZTIMES: Consumer demand shifted heavily in favor of goods during the COVID-19 pandemic. Then, when vaccines became available and the pandemic waned, consumer demand for experiences exploded. What should we expect for consumer demand in 2023?

KNETTER: “We should find our way back to normal spending patterns across consumption categories. The mismatch between supply and demand within categories probably contributed to inflation, and a return to normal will help things level out.”

BIZTIMES: Gas prices shot up in 2022, but have come back down to earth. That has to help things, right? What direction do you think gas and other energy prices are heading in 2023?

MICHAEL KNETTER

KNETTER: “Energy prices are set in global markets, and it looks like a slow growth year for the global economy, so I would expect prices to remain about where they are now, absent some new shock to the system.”

BIZTIMES: Supply chains were thrown out of whack during the COVID-19 pandemic, contributing to inflation and causing nightmares for a number of industries, especially in manufacturing. Is the worst of that over or is there more pain to endure there?

KNETTER: “The worst of the disruptions are over. Now it is more like a steady drip of turning away from global trade and the production efficiencies that it generated. This will be a moderately inflationary force.”

BIZTIMES: Are we in danger of serious trouble in real estate? Could rising interest rates lead to a collapse in the housing market? What about commercial real estate? With many people still working remote or in hybrid arrangements, will we see a big drop in office space demand and serious pain for office building landlords?

KNETTER: “I think office space is in for the most pain, but even that is tricky. If you are hybrid, you are likely having everyone back in at least some of the same days. So, you need the same footprint, but it is grossly underutilized. Maybe WeWork flamed out a bit too soon. I think people have come to value their residential real estate more than ever. Higher rates will hurt demand but once inflation comes down, this too shall pass.”

BIZTIMES: How about the stock market? It was a roller coaster in 2022, but the big picture is stock market investors absorbed significant losses on the year. What’s your outlook for the stock market in 2023?

KNETTER: “I will look for the market to be up modestly by the end of 2023, maybe 6%-8%. It won’t be a smooth ride. Remember that the pre-pandemic stock market was lower than the valuations we see today. On election day of 2020, the S&P 500 closed at 3,369 (it was above 4,000 earlier this month). Everyone seemed to feel that represented a great stock market at the time. So, we have now been through a pandemic, a major war in Europe, and what feels like a market meltdown, but the valua-

tions are still better than pre-pandemic. I think we are doing OK when you take a longer view than just looking back at the peak values in late 2021.”

BIZTIMES: Would an end to the war in Ukraine make a big difference in the global economy?

KNETTER: “It would make a huge difference to the Ukrainian people and a modest difference to the global economy if we could get back to better flows of trade in commodities especially. There also will be, sadly, major rebuilding needed in Ukraine, which will be a massive source of fiscal stimulus. This will be good for GDP growth, but of course we are just rebuilding things that Putin’s military destroyed. War destroys massive amounts of wealth.”

BIZTIMES: What keeps you up at night when thinking about the outlook for the U.S. economy in 2023?

KNETTER: “Coffee. OK, not really. Nothing keeps me up at night regarding the outlook for the U.S. economy. What keeps me up is the geopolitical tensions and the possibility of a mistake that draws the U.S. and one or more rivals into an escalated conflict.” n

ECONOMIC TRENDS

Wisconsin Center has scarcity of open dates in 2023 as events business rebounds

BY ARTHUR THOMAS, staff writer

IT MAY HAVE SEEMED a bit counterintuitive in 2020 when the Wisconsin Center District decided to move ahead with what is now a $456 million expansion project for Milwaukee’s downtown convention center in the midst of a global pandemic.

Marty Brooks, chief executive officer of the WCD, and his team, however, saw an opportunity to not only complete a long-discussed project for the convention center, but also to capitalize on the eventual return of the meetings and events business.

The expansion is on track to open in 2024 and the return in convention and event business is happening, too, if anything a little ahead of schedule.

“We're seeing a scarcity in available dates and in available space, which is encouraging not just for the convention center but for restaurants, hotels, bars and all the support businesses that thrive on visitors coming into Milwaukee,” Brooks said of the 2023 outlook.

Prior to the pandemic, there were more open dates in 2023 than normal, Brooks said, but amid 2020’s slowdown, the WCD team worked to shift bookings to open dates instead of having customers cancel.

At the same time, the lead time for events has shrunk, Brooks said. Someone who would have been looking for a 2023 date back in 2018 or 2019 could now be planning a similar event for late 2023 or early 2024.

Attendance at events has also rebounded. Coming out of the pandemic, meeting planners were uncertain of how numbers would ramp up.

“We’re seeing that rebound back to pre-COVID numbers,” said Brooks. “I’m sure we’re going to see those events that are repeats down a skosh, but we’re encouraged not only by the booking activi-

ty but that the actual people showing up to these meetings and conventions is at a much higher percentage than coming right out of COVID.”

Brooks will be among the speakers at BizTimes Media’s 22nd annual Economic Trends event on Jan. 26 at the Italian Community Center.

Beyond the return of attendance figures, Brooks also said event attendees are increasingly looking to make the most of their trips to conventions.

“People are looking to tie time in a city pre- and post-(event) and not just fly in for the meeting and get out,” he said, praising the efforts of VISIT Milwaukee and others to highlight the city’s offerings.

“While they want to be at the meeting and attend the convention, they also want to experience where they're going,” Brooks said. “I think people are looking to spend time outside of the convention center itself, and I think we've got a lot to see and do around our city.”

The expansion of the convention center offers a chance to bring more people to Milwaukee, although not necessarily more people all at the same time.

Brooks said that in the past, when an event took up the entire convention center, the facility would be booked for 12 or 14 days, even if the peak activity from the meeting only took place over four or five days. The rest of the time was dedicated to setup and tear down for the event.

“The real opportunity for the convention center expansion, certainly we'll be able to go after bigger conventions that need more exhibition space and more meeting rooms, but the real driving force to the expansion has been how do we get more events of the same size to occur either simultaneously or

MARTY BROOKS

overlapping,” Brooks said.

Staggering multiple events could allow the city to go from four peak nights to eight or 10 over a 10or 12-day stretch.

“It’s more occupied hotel rooms, more days where the hotels and restaurants and bars are activated as opposed to being compressed to just a fourday window,” Brooks said.

More activity means more economic opportunities for businesses, but it also comes with a potential challenge as many in the hospitality sector already face staffing shortages.

Brooks, however, expressed confidence that the city is up to the task.

“We do it all the time, I think the biggest thing is there's not going to be the lulls we've been experiencing over the years where the convention just loaded out and nothing is going to happen for another four or six days. We're hoping that this is a lot more consecutive days with a lot less days off,” he said.

One event that’s expected to bring an especially high volume of activity to Milwaukee is the 2024 Republican National Convention, set to take place July 15-18, 2024. Brooks said the event is still in a transition period of sorts and more details, and business opportunities, are likely to emerge over the next three to six months.

“They have not yet selected their convention production team yet, so until we get a better understanding of exactly what they're looking to do from a scheduling standpoint, from a creative standpoint, that I think is going to be what drives the details that we all need and the businesses need to support the incoming convention,” Brooks said. n

A rendering of the Wisconsin Center expansion at the Vel R. Phillips Avenue entrance on the east side of the facility.

Bracing for possible recession, consumers continue seeking value for essential purchases

BY MAREDITHE MEYER, staff writer

THE LATEST Consumer Price Index report is a welcome sign of slowing inflation following a year marked by record-high prices. Still, with annual inflation at 6.5% in December – and fears of an impending recession on the minds of many – consumers continue to feel the pinch and are adjusting their spending habits accordingly.

The shift toward value-driven purchases over the past year is not going away any time soon, according to Gautham Vadakkepatt, a professor of marketing at George Mason University’s School of Business and director of the Center for Retail Transformation.

“Fundamentally, consumers will look for lower prices, better value and switch shopping behavior based on that,” he said.

Whether it’s trading down to private label brands and discount stores or buying less (or bulk quantities) of certain products, finding ways to stretch the dollar has become the norm for many

consumers. That has also meant cutting back on discretionary purchases such as clothing, electronics, furniture and dining out.

A June 2022 survey by NielsenIQ found that 42% of U.S. consumers intend to spend less on dining out over the following year, and 46% intend to spend less on out-of-home entertainment. Meanwhile, 40% of respondents said they plan to spend more on groceries. In other words, “people will stock up on the essentials,” said Vadakkepatt.

While it remains to be seen whether the U.S. economy will go into recession this year, drawnout speculation and chatter still holds power over consumers’ collective psyche.

“When the word recession is thrown around, it congers up images of hardship: layoffs, living paycheck to paycheck. As a consequence, you start preparing for that,” said Vadakkepatt. “You start saving money, you start cutting expenditures in different ways, you postpone big purchases and

perhaps even small purchases, you will not travel as much. You’re living on an edge in some ways.”

For the non-discretionary grocery industry, shifts in consumer behavior show up in the subtle choices shoppers make. Pam Mehnert, outgoing general manager of Milwaukee-based Outpost Natural Foods, has noticed similarities between the shopping patterns of today – with the fear of recession looming – and those of 2009, when the U.S. economy was actually in recession. One is the trend of buying down or opting for the private-label brand over a name brand.

Mehnert also remembers there being a huge increase in organic food sales during the Great Recession.

“People were thinking, ‘Well if I don’t take care of my health, then I’m going to spend that money at the doctor,’” she said. “Now, we don’t know if that same thing is going to happen again, but it definitely was encouraging back at that time to see that people thought about what those choices of spending were.”

Another specialty grocer, Good Harvest Market in Pewaukee, is looking to bounce back from a loss in sales over the past few months as high-income customers – those who spend an average of $8,000 a year at Good Harvest – cut back as a result of in-

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flationary pressure on other areas of the economy.

Co-owner Joe Nolan calls it the “wealth effect.”

“They get their monthly investment statement and see that their $500,000 is now down to $400,000, and that scares them a little bit so they pull back,” said Nolan.

Specifically, the produce and wellness departments have taken the largest sales hit from the shift, but Nolan expects spending to return to normal as inflation softens and the economy recovers.

In the meantime, Good Harvest is bolstering its value offerings and promotions to meet shopper demand. The store recently reduced the price of its private label and low-price options throughout the store, ranging from a container of salad to three pounds of ground beef. Roughly 100 of those discounted items, all under the CAIDA private label, will undergo a six-month price freeze starting later this winter, said Nolan.

The grocery supply chain has taken one blow after the next in the wake of the COVID-19 pandemic. Early panic buying gave way to labor challenges, shipping delays and raw material shortages, leaving grocers scrambling to find alternative brands or vendors for high-demand items and eating some of the cost. Environmental factors seem to

be the next big hurdle and the reason behind unprecedented price increases on some grocery items that have otherwise remained “inflation resistant,” said Mehnert.

The price of eggs was up 60% in December, year-over-year, according to the Consumer Price Index – a direct result of the worst outbreak of Avian flu in U.S. history.

Outpost’s longtime egg supplier, Burlington-based Yuppie Hill Poultry, hiked prices 17%.

“We took a compromise on our margin just to keep the price under $5 a dozen,” said Mehnert, claiming the deal is one of the best in town. “We want people to continue to support that business.”

In addition to eggs, consumers should expect to see higher price tags in the produce department due to climate-related circumstances, she said. For example, a pattern of drought and floods in California has created subpar growing conditions for lettuce. The crop is in short supply, driving prices up.

“What happens going forward is really going to be based on a number of factors, not just one,” Mehnert said. “Transportation cost, supply, commodities, the war in Ukraine, all those things that are impacting prices are really going to force consumers to make different choices.” n

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ECONOMIC TRENDS

Employer-employee dynamics at heart of shifting labor markets

BY ARTHUR THOMAS, staff writer

WITH GROWING ECONOMIC uncertainty and fears of a potential recession in 2023, one continued strength for the economy, both nationally and in Wisconsin, has been the labor market.

The national unemployment rate was 3.5% in December and Wisconsin has generally trended a few tenths lower. Payrolls and wages have continued to grow, even if the pace has slowed somewhat.

At the same time, some warning signs have begun to flash with major technology companies like Amazon, Meta and Salesforce cutting thousands of jobs.

“We have feast and famine in terms of what industry you’re in and what your circumstances are,” said Molly Thiel, chief people officer at Brookfield-based talent acquisition firm Cielo.

Thiel said Cielo, which serves a variety of sectors including business services, consumer products, health care, media, technology and life sciences, is seeing many clients who essentially

over-hired coming out of the COVID-19 pandemic.

However, the divergent views of the labor market continue even within companies.

“We’re seeing a lot of that where the sentiment of the hiring managers within the organizations has continued to be, ‘I need more people, I need more people because I have so much work to do,’” Thiel said. “But the financial elements and the corporate elements of that company looking at it and going, ‘I can see down the road, you are not going to need that, I can see a picture that you don’t feel right now.’”

Thiel will be among the speakers at BizTimes Media’s 22nd annual Economic Trends event on Jan. 26 at the Italian Community Center in Milwaukee.

In addition to the differing pictures of the labor market, Thiel said there is also an open question of whether the market will favor employers or employees more in the coming year.

MOLLY THIEL

“The last 18-ish, 24 months, it’s felt like we’re at the mercy as an employer of either what our competitors are doing or what the demands are of our employees, who now collectively seem to have much more bargaining power than they used to,”

COMPARING THE U.S. AND WISCONSIN JOB MARKETS

Private sector employment compared to February 2020

While the U.S. as a whole surpassed its February 2020 pre-pandemic employment levels in the middle of 2022, Wisconsin is yet to recover all the jobs it lost in the initial shock of COVID-19. The state’s initial job loss was not quite as severe as the country as a whole and its recovery ran ahead of the U.S. until October 2021. As of November, the state is still 22,600 jobs short of its pre-pandemic levels, according to the most recent U.S. Bureau of Labor Statistics monthly survey of employers.

Wisconsin wage gains outpace

U.S.

Employers in Wisconsin are familiar with a tight labor market. The state’s unemployment rate was 3.3% in November, and it has been below 4% for all but a 15-month stretch amidst the pandemic since mid-2016. Low unemployment has translated to higher wages for employees. The average hourly wage for all workers in Wisconsin went from $29.01 in November 2021 to $30.48 in November 2022. The year-over-year change peaked at 8.1% in May. The state has averaged 6.2% wage growth in the past 12 months of data, better than the 5.2% average nationally.

U.S. Bureau of Labor Statistics

Shrinking labor force participation

One of the strengths of Wisconsin’s workforce has long been its labor force participation. It has been trending down over the past two-plus decades after peaking around 73% in the late 1990s, but the state’s participation rate has generally ranked among the best in the country. This year, however, the state has seen its labor force participation rate fall even as the national rate has shown improvement. In January 2021, Wisconsin’s rate of 66.4% was 5.1 percentage points higher than the U.S. By January 2022, the advantage was down to 4.2 points, and by November it had fallen to 2.7 points with Wisconsin’s rate at 64.9%. The state has also fallen in the rankings from ninth in 2021 to 14th as of November.

Source:

Thiel said. “It’s becoming more and more important that we take ourselves more seriously in terms of what we’re offering to those candidates as opposed to thinking that they’re dying to come work for us.”

Some of the increased power of employees has come from the economic conditions leading businesses to hire more while some of it has also come from demographics. Regardless of the direction of the economy, the demographic trends – led by the retirement of Baby Boomers – will continue to shape the jobs market.

“If you look globally, there’s really only one part of the world that will have more labor available than jobs in the next 10 years and that’s India,” Thiel said.

Even when Baby Boomers aren’t retiring, many are becoming more selective when making choices about their work and career. At the same time, younger generations are looking to see that the companies they work for are part of a bigger mission or give back in their communities. Thiel said that’s where a business’ efforts on diversity, equity and inclusion or environment, social and governance matters come into the equation when hiring.

“It is no longer just about the package of cash

that you give them and how creative you are with comp, it is about the entire experience working with you and from a candidate perspective, how much of that experience can they have through their process of exploring you as an employer,” Thiel said. “Instead of thinking about an interview process as judging whether or not you want that person to come work for you, you’re treating that interview process as almost like a dating circumstance where they have just as much choice.”

Businesses are also facing a need to act differently as they face a potential downturn. Having made significant investments to attract and retain talent in recent years, many businesses are getting more creative to avoid layoffs, Thiel said. Examples include better systems to avoid over-hiring in the future, job or skill sharing and offering additional flexibility in certain roles.

She added companies are also changing how they go about executing layoffs when they do become necessary.

“You do as an employer have to remember, you may very well hire those folks back or you may want to, and they’ve got to want to come back,” Thiel said

It is important for companies to avoid harming

their employer brand, Thiel said, noting businesses should seek to be transparent through the layoff process, help employees move on to their next job where possible and be thoughtful about the kind of financial compensation they offer.

“If you’re in the layoff situation, you absolutely need to start thinking about it differently than you have because taking care of the whole person is becoming more expected,” she said. n

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ECONOMIC TRENDS

Consolidation, labor shortages, new technology impacting health care industry in 2023

BY LELAH BYRON, staff writer

THE YEAR 2022 was a big one for merger and acquisition activity among hospitals and health systems in Wisconsin. To understand how the health care marketplace is being transformed by this and other trends – including higher costs, labor shortages and the shift to digital – BizTimes Milwaukee asked several key leaders in the industry to share their observations and forecasts for 2023.

CONSOLIDATION CONTINUES AS COSTS CLIMB

“If we take a look back at the last decade, one of the major changes that occurred was an acceleration of consolidation,” said Bill Santulli, president of Advocate Health’s Midwest region.

There have been approximately 1,519 hospital mergers in the past 20 years, with more than 680 since 2010, according to a 2018 statement before the Committee on Energy and Commerce Oversight and Investigations Subcommittee in the U.S. House of Representatives.

Which leads to recently, when, on Dec. 1, 2022, La Crosse-based Gundersen Health System and Green Bay-based Bellin Health completed a merger. The next day, Milwaukee- and Chicago-based Advocate Aurora Health completed its merger with Charlotte, North Carolina-based Atrium Health.

Together, those mergers will impact about 8.5 million patients across several states.

“Fundamentally, both Advocate Aurora and Atrium are legacy organizations, and we believe in scale,” Santulli said. “When we created Advocate Health, we were able to successfully create financial synergies.”

Why hospitals consolidate depends on a variety of factors, but it often comes down to size and scale, which in turn greatly affect the ability of the system to keep costs down, said Brian Potter, vice president of finance and the chief operating officer of the Wisconsin Hospital Association.

“When you’re smaller and trying to wrestle with these challenges, you start thinking about working individually versus together. There’s efficiency in that,” Potter said.

Put simply: the bigger the hospital system, the bigger its support system will be, which is important in cost-cutting and modernization efforts.

When it comes to the latter, geographic location can determine who merges with who and why, Potter said. For example, if a hospital in a rural region is advanced in offering telehealth due to the spread-out nature of its population, that could be an attractive feature for a hospital in an urban area to adopt.

Cost-cutting and modernization efforts have been more of a priority in the past 12 months, as hospitals’ financials have “forced people to seek cover,” said Cathy Jacobson, chief executive officer of Wauwatosa-based Froedtert Health.

“Even pre-financial distress, these mergers are much more about how you build capabilities. How do you put your organization together to create scale and attract talent on a national basis? How do you form tech partners? You need to have a certain scale to be able to participate in that,” Jacobson said.

Froedtert “continues to talk to partners all the time” about the nationwide trend of mergers and acquisitions, Jacobson said. In 2018, Froedtert purchased the former Wisconsin Heart Hospital property from Ascension Wisconsin, and in 2022, Froedtert & the Medical College of Wisconsin partnered with Neenah-based health provider ThedaCare for specialty services.

“The merger conversations aren’t done, and in fact I think they’re going to accelerate due to financial distress,” Jacobson said.

Continued merger conversations have sparked concern among providers and policymakers alike that the result of such actions is a costly and inefficient market that puts consumers at a disadvantage.

“How can you gain efficiency through aggregating your back office? We as an industry have been woefully inadequate in proving our efficiencies,” Jacobson said. “But people continue to merge based on that premise.”

The more health care acts like any other industry, the more patients and communities will suffer, said state Sen. Chris Larson, who provided an example in the case of Ascension recently closing labor-delivery services at St. Francis Hospital in Milwaukee.

“From a business standpoint, you want product delivery to be as efficient and cost-effective as possible. But that means consolidation – it means people traveling farther to appointments, it means fewer providers, it means longer wait times,” Larson said. “The usual incentives that drive innovation in the marketplace don’t apply to health care because patients really aren’t free to shop around, and they can’t withhold their purchase if they don’t like the deal they’re being offered. If you’re sick, you do whatever it takes to get help and deal with the consequences later.”

Jamie Lucas, executive director of the Wisconsin Federation of Nurses and Health Care Professionals, echoed that statement, noting that health care is the largest source of debt for Americans, and although the U.S. spends more than other countries on health care, it generally does not get better results.

“Whose lives are saved is a question of where resources are allocated,” Lucas said, referencing studies that show hospital consolidation has not led to either improved quality or reduced costs.

Aurora St. Luke’s Medical Center in Milwaukee.

CATHY JACOBSON BILL SANTULLI

LABOR SHORTAGES

The COVID-19 surge in the fall of 2021 hit health systems like a “gut punch,” Jacobson said.

“We really started to see (employees) leave in droves, and we started to see a lot more turnover,” Jacobson said.

Hospital employment is down approximately 100,000 from pre-pandemic levels, according to data from the Bureau of Labor Statistics. Additionally, hospital labor expenses per patient through 2021 were 19.1% higher than pre-pandemic levels in 2019.

“(To my team I say) ‘Tell me what we need to do better, and don’t tell me we need to hire more people, because there aren’t new people to hire,’” Jacobson said. “These shortages are going to be pervasive for the next few years.”

Unlike other industries, such as hospitality where restaurants can limit their tables or hours of operation, or manufacturing where contractors can turn down orders, health care systems must serve demand. Subsequently, due to workforce scarcity, hospitals must pay higher rates for overtime and contract staffing agencies.

“Labor costs tend to be 50%-55% of our expenses, so it is our single biggest cost,” which means any increase on these costs can significantly impact total expenses and operating margins, Jacobson said.

The trend of workforce challenges had begun before the pandemic, Santulli pointed out.

“With the aging of baby boomers, we are not replacing the folks that are exiting the workforce at an appropriate rate,” Santulli said.

Moreover, the supply chain issues that continue to affect every industry are also hitting hospitals. Medical supply expenses grew 20.6% through the end of 2021, compared to pre-pandemic levels. When focusing on hospital departments most directly involved in care for COVID-19 patients − ICUs

and respiratory care departments − medical supply expenses increased 31.5% and 22.3%, respectively, from pre-pandemic levels, according to the Bureau of Labor Statistics.

“We need to seriously evaluate whether we’re getting our money’s worth with the way we fund health care in this country,” Larson said, adding, for example, in Wisconsin last year, hospitals reported $2 billion in community benefits, with $1.2 billion being used as write-offs for the difference between the cost of care and the Medicaid reimbursement rate. “Who do you think really makes up the difference? Every other patient who pays out of pocket or with private insurance. So really, we have a system that doesn’t work for anybody except for drug companies and device manufacturers, and a few hospital executives. That’s not sustainable.”

Both Froedtert and Advocate Health have local partnerships to grow their commitment to graduate medical education and health research. But part of the labor shortage problem is the prohibitively expensive cost of education for many people, Larson said.

“We ought to work toward a state and a nation that truly values and invests in lifelong education, to the point where nobody ever has to go into debt to pursue their dreams,” Larson said.

“Going forward, we’re going to have to get innovative in dealing with these challenges, like providing more flexible scheduling and doing a better job at leveraging technology,” Santulli added.

DIGITAL TRANSFORMATION AND TECHNOLOGY ADOPTION

When it comes to leveraging technology, there are a variety of factors at play, but they are all contingent on support systems that can be built to make providers more attractive as potential partners, Jacobson said.

“You’re going to start to see hospitals making moves to separate themselves from everyone else because the (digital transformation) investments are starting to pay off,” Jacobson said. “It’s going to show a demonstrable difference in terms of experience and engagement.”

Those investments include big data and artificial intelligence. Big data aggregates information through social media, online and financial transactions. For hospitals, patient record analysis using big data could help to estimate future admission rates for accurate staffing purposes, flag inconsistencies between a patient’s health and drug prescriptions and create plans for preventive care. Meanwhile, the health care-AI market – which can be observed in virtual health assistants and precision medicine, among others – is expected to exceed $34 billion by 2025.

“Real digital transformation in my eyes enables patients to interact with health care like they interact with anything else,” Jacobson said. “Whether it makes transactions like paying bills much, much faster, all the way up to how you interact with your doctor virtually, I think health care is just in the early stages of this. How do we use digital tools to engage our patients in a different way?”

On the topic of tech, another significant trend is the shift in the place or venue where care is delivered, Santulli said.

“We’ve seen a shift from acute patients being served in hospitals, to clinics and ambulatory settings, to the home and now to the virtual, and I think this will continue to accelerate this year,” Santulli said.

In 2022, inpatient activity at Advocate Health was down approximately 7%, while outpatient activity increased substantially, Santulli said.

“That does put a lot of financial pressure on us, because traditionally you get reimbursed more in a complex acute environment versus an ambulatory environment,” Santulli said.

But to Larson and his constituents, telehealth has the potential to greatly expand access to care, particularly mental health care, to people who may not have had access otherwise, he said.

“The interstate compact Wisconsin recently joined will allow people a much wider variety of therapists to choose from and could improve cultural competency by allowing people to choose providers with similar cultural backgrounds to themselves,” Larson said.

The next 12 months could bring more digital transformation, along with more challenges, to the health care industry in Wisconsin.

“There’s no silver bullet for any of these things,” said Potter. “Health care just continually changes.”

“2022 was one of the most fiscally challenging years for hospitals and health systems,” Santulli added. “The outlook for this new year is no different.” n

ECONOMIC TRENDS

A swinging pendulum

Strattec CEO says 2023 will be a year of

rebalancing for manufacturers

BY ASHLEY SMART, staff writer

THE MANUFACTURING SECTOR has not had it easy throughout the past three years as companies have juggled the task of balancing supply chain issues, labor shortages and costs, and the increased cost of materials. So, it’s not much of a surprise that a recent survey of manufacturing and distribution executives shows waning optimism.

The latest Sikich Industry Pulse survey, which received responses from more than 120 manufacturing and distribution executives across the U.S., revealed that only 49% of respondents rated their optimism at a seven or higher on a scale of one to 10, with concerns about an economic recession serving as the top contributing factor. That’s compared to 71% of manufacturing and distribution executives responding positively this past September.

Despite waning optimism in the economy, another outlook survey conducted by Chase Insights found that 72% of business leaders are optimistic about how their own companies will perform.

Such is the case for Frank Krejci, president and chief executive officer of Glendale-based Strattec Security Corp.

“I’m feeling pretty good with where the company is positioned right now,” said Krejci, who will be among the speakers at BizTimes Media’s 22nd annual Economic Trends event on Jan. 26.

Strattec manufactures automotive locks and vehicle access systems. Even if there is a recession in 2023, Krejci believes Strattec will be in good shape because its customers have been limited in how much they can produce.

“When you look at their inventories on their dealer lots, the inventories are only at about 25%.

Even if there is a modest slowdown in demand, there’s still a lot of pipeline filling. I believe our customers are still going to ramp up their production,” said Krejci.

This sentiment echoes what the Sikich survey found. A combination of work backlogs and loyal customers give manufacturers something to be optimistic about.

During the height of recent supply chain bottlenecks when several other manufacturers in the automotive space were forced to shut down, Strattec used the time to both introduce new operational efficiencies and bolster its inventories.

As part of the new efficiencies, Strattec has introduced increased automation to the shop floor. Krejci said this process began well before the pandemic. A combination of a desire for greater consistency and a shortage of talent led to the decision.

“When you build on top of it and mention the push to manufacture more things locally, rather than sourcing out of China or elsewhere, all of those things together are really going to push not only Strattec but everyone a lot harder into automation,” said Krejci.

Sikich’s survey found that 40% of respondents are eyeing additional automation on their shop floors.

Another consequence of recent supply chain issues is that manufacturers have a deeper desire for self-sufficiency.

Krejci expects more manufacturers to look at reshoring, but the nature of being a global economy and the ongoing workforce shortage will limit how much reshoring U.S. companies are actually able to do, he said.

Left: A plating line at Strattec that coats both the company’s die cast parts and its steel stamped parts against corrosion.

Right: One of Strattec’s stamping presses that primarily stamps parts for latches.

FRANK KREJCI

LOOKING AHEAD

Krejci does not believe that a recession is certain this year. Rather, he believes the economic turbulence of the past year – and now continuing into 2023 – is simply a rebalancing act. He pointed to specific industries, such as home entertainment, that benefitted from the pandemic while others, like restaurants, struggled. As we’ve entered the tail end of the pandemic, Krejci predicts things will continue to shift back to the way they were before. He likens this rebalancing to a pendulum that will swing back and forth until it finds a happy medium.

“When everybody is predicting something, it’s usually wrong,” said Krejci.

As for the recent redirection of automakers to focus on electric vehicles, Krejci doesn’t expect a slowdown there. But he does question whether the U.S. has the infrastructure in place to support rapid growth in the EV field.

“In order to meet some of these really hockey stick type of projections, the amount of (raw) materials needs to increase dramatically. Not only do they need to increase dramatically, but they’re not all local,” said Krejci. “We could end up with a supply chain issue that limits the amount of production automakers can do, even though they’ve invested heavily in developing the product.”

Moving forward into 2023, Strattec will continue navigating pandemic-related price increases of raw materials including zinc and steel, although Krejci said those prices have begun to slowly come down. The company’s biggest challenge on the horizon will be remaining flexible as persistent supply chain shortages and material costs continue to fluctuate. n

N OTA BLE LEADERS IN HIGHER EDUCATION

BizTimes Milwaukee presents its first ever showcase of Notable Leaders in Higher Education, highlighting accomplished leaders at colleges and universities in southeastern Wisconsin. The individuals spotlighted here demonstrate the quality of higher education leadership in the region and their dedication to developing the next generation of talent.

METHODOLOGY: The honorees do not pay to be included. Their profiles were drawn from nomination materials. This list features only individuals for whom nominations were submitted and accepted after review by our editorial team. To qualify for the list, nominees must work for a higher education institution located in southeastern Wisconsin, work in a leadership position there, and make a meaningful contribution to their institution and the community.

MARGARET RAUSCHENBERGER

ASSOCIATE DEAN OF THE SCHOOL OF ADULT LEARNING AND NEW INITIATIVES

ALVERNO COLLEGE

Margaret Rauschenberger, associate dean of the Alverno College School of Adult Learning and New Initiatives, is the “quintessential servant leader,” according to Laurie Kunkel-Jordan, dean of Alverno’s JoAnn McGrath School of Nursing and Health Professions.

“Peg has dedicated her life to the empowerment of disadvantaged persons aimed at transforming their lives and the future of their families and communities through the pursuit of higher education.”

Rauschenberger, who is also dean emerita of nursing at Alverno, was the keynote speaker at the American Association of Colleges of Nursing’s 2021 national conference. She spoke about competency-based education and assessment as a shared student-faculty commitment. After the speech, she served as a consultant for nursing schools across the country, and, in collaboration with Alverno faculty experts, she delivered webinars on how to implement AACN’s new “Essentials: Core Competencies for Professional Nursing Education.”

Rauschenberger is also a member of Advocate Health-St. Luke’s Community Outreach Committee that consults with and supports the hospital’s initiatives to improve the health and quality of life on Milwaukee’s south side.

Congratulations

JODI EASTBERG ACTING VICE PRESIDENT OF ACADEMIC AFFAIRS DEAN OF THE SCHOOL OF PROFESSIONAL AND GRADUATE STUDIES

ALVERNO COLLEGE

As acting vice president of academic affairs and dean of the School of Professional and Graduate Studies at Alverno College in Milwaukee, Jodi Eastberg, Ph.D., oversees the academic operations of the college and serves in cross-college leadership as part of the president’s cabinet.

As dean, she leads the college’s work with graduate students in all disciplines and directs the business, education, music and liturgy, community and school psychology, communication and technology departments.

Eastberg previously served as executive director of the Center for Academic Excellence and the Research Center for Women and Girls. In the CAE, Eastberg worked with faculty and staff to provide many opportunities for high achieving students.

Eastberg in early 2019 oversaw the release of the Status of Girls in Wisconsin report, which is a look at how girls in Wisconsin are faring in areas such as sexual violence and human trafficking, stress, depression, suicide, bullying, TV, online and social media engagement, and substance use. She also launched the annual State of Wisconsin Girls Summit.

Dr. Jodi Eastberg and Peg Rauschenberger for being acknowledged as BizTimes Notable Leaders in Higher Education.

Dr. Jodi Eastberg Acting Vice President, Academic Affairs; Dean, School of Professional and Graduate Studies

Peg Rauschenberger, MSN, RN Associate Dean, School of Adult Learning

Nominated by:

JON KOCH DEAN OF THE SCHOOL OF BUSINESS

WAUKESHA COUNTY TECHNICAL COLLEGE

Jon Koch has been at Waukesha County Technical College for nine years and was named dean of the school of business in May 2021. During his tenure, colleagues say, his leadership skills have not gone unnoticed.

“He has introduced new study areas, including supply chain management for which Hamacher Resource Group led a hand in developing,” said David Wendland, vice president of strategic relations at Pewaukee-based Hamacher.

“Furthermore, he responded exceedingly well during the recent COVID-19 pandemic to change the very nature of education offered through WCTC and the methods in which it was delivered,” said Wendland. “Jon is focused on higher education and providing the best possible learning experience for students.”

Prior to taking the helm as dean, Koch served as associate dean for almost five years. Before that, he was an academic advisor and adjunct instructor.

Koch came to WCTC from the University of Wisconsin-Green Bay, where he was an advisor for adult degree programs. Prior to that, he served at Cardinal Stritch University as a graduate admissions counselor.

RICHARD BARNHOUSE PRESIDENT WAUKESHA COUNTY TECHNICAL COLLEGE

Since Richard Barnhouse, Ph.D., joined Waukesha County Technical College in January 2021 he has worked to develop relationships with business and industry leaders.

Barnhouse regularly tours area companies and meets with employers to learn more about their business needs and how WCTC can help provide them with qualified, skilled workers. He made more than 35 visits to area manufacturing companies in his first year.

Additionally, he meets with K-12 leaders to develop initiatives to encourage high school students to begin their college experience while still in high school and get a jump start on their post-secondary education.

Under his leadership, the college began the WCTC Excelerate initiative in the fall of 2022. This allows qualified high school juniors and seniors ages 16 and older to apply to a full college program, earn dual credit and possibly an associate degree technical diploma or certificate before they graduate from high school.

Beyond WCTC, Barnhouse is involved in leadership roles in higher education, community and professional organizations.

MATTHEW VICK DEAN OF THE SCHOOL OF GRADUATE STUDIES AND CONTINUING EDUCATION UNIVERSITY OF WISCONSIN-WHITEWATER

Matthew Vick, Ph.D., dean of graduate studies and continuing education at the University of Wisconsin-Whitewater, has made his mark as a leader who is driving success in graduate studies and beyond, says John Chenoweth, interim chancellor of UW-Whitewater.

“As a new dean, he is a thoughtful leader who listens, seeks recommendations and then makes swift decisions, allowing his school to flourish,” Chenoweth said. “Matt implemented changes across staff, structures and processes. As a result, the school gained efficiencies and better-aligned talent while building a culture of collaboration, including quarterly meetings, regular one-on-one meetings and even potlucks.”

“Matt also identified the need for a graduate studies brand and continues to add to its 24 programs and dozens of certificates. This applied education sets UW-Whitewater apart,” Chenoweth said.

Programs include new master of science degrees in education in early childhood policy, applied kinesiology and social work. Vick’s research and sponsored programs department brings in millions of dollars for grants and corporate projects, creating hands-on experiences and supporting the community.

Leaders of the next century of

Richard Barnhouse, WCTC President

Jon Koch, WCTC Dean, School of Business

JOHN WALZ PRESIDENT MILWAUKEE SCHOOL OF ENGINEERING

John Walz began his term as the fifth president of Milwaukee School of Engineering in July 2016.

Since he joined MSOE, Walz has led the development of a university-wide strategic plan as well as a strategic plan for diversity, equity, inclusion and belonging. MSOE launched a bachelor’s in computer science degree program, focused on artificial intelligence and a graduate certificate in applied machine learning.

Beginning in the fall of 2023, MSOE will offer an online master’s degree program in machine learning and an online graduate certificate in machine learning engineering.

Also under Walz’s leadership, MSOE has undertaken several physical enhancements to its campus, designed to meet the needs of today’s students. Construction and renovations, such as the Dwight and Dian Diercks Computational Science Hall, We Energies STEM Center, Robert Spitzer Dining Commons, Ruehlow Nursing Complex expansion, Welcome Center, Raiders Stadium (in partnership with Nicolet High School), Raiders Field, Direct Supply Innovation and Technology Center, and the Hermann Viets Tower are all designed to support learning, collaboration and campus life.

JOSHUA KUTNEY EXECUTIVE VICE PRESIDENT AND VICE PRESIDENT FOR ACADEMIC AFFAIRS

LAKELAND UNIVERSITY

Joshua Kutney, Ph.D., executive vice president and vice president for academic affairs, is helping lead Lakeland University, located in Sheboygan County, out of the COVID-19 pandemic as an institution positioned for growth.

A member of Lakeland’s strategic planning team, Kutney was promoted at the start of 2023 to executive vice president – his latest role during his 18 years at Lakeland.

This spring, Kutney led an effort to sign transfer agreements with five technical colleges to make it easier for students to complete a bachelor’s degree.

Students at Lakeshore Technical College in Cleveland, Mid-State Technical College in Wisconsin Rapids, Moraine Park Technical College in Fond du Lac, Northeast Wisconsin Technical College in Green Bay and Southwest Wisconsin Technical College in Fennimore who earn the Liberal Arts–Associate of Arts or Liberal Arts–Associate of Science degrees can transfer to Lakeland with junior standing.

This summer, Kutney led an effort to sign an agreement with the Sheboygan Area School District that expands access to free college-level coursework to eligible SASD students and teachers.

JEANNE HOSSENLOPP VICE PRESIDENT OF RESEARCH

AND INNOVATION MARQUETTE UNIVERSITY

Jeanne Hossenlopp, Ph.D., joined the faculty of Marquette University in Milwaukee as a professor of chemistry in 1989. Since then, she has served as chair of the department of chemistry from 2004-‘08, as interim dean of the Klingler College of Arts and Sciences from 2008-‘10, and as vice provost for research and dean of the graduate school from 2010-‘15.

Recognizing the need to prioritize research and support innovation on campus, in 2015 Marquette president Mike Lovell appointed Hossenlopp to the new role of vice president for research and innovation.

“She deftly laid the groundwork for what would become the university’s Office of Research and Innovation. In this role, she is charged with facilitating growth in campus research and scholarship. Under her leadership, the university continually achieves record federally supported research and development expenditures,” Lovell said.

Hossenlopp led the design and implementation of the university’s Explorer Challenge fund, which provides seed money to students, faculty and staff to explore entrepreneurial ventures. Since its inception, the Explorer Challenge has awarded more than $8 million to 100 initiatives.

MAGGIE CINTO

MATTHEW FRIEDEL DIRECTOR OF THE BUSINESS INNOVATION INCUBATOR AND SENIOR LECTURER

UNIVERSITY OF WISCONSIN-MILWAUKEE

Matthew Friedel has focused on building a strong tech and entrepreneurial ecosystem in Wisconsin through his work as the director of the Business Innovation Incubator at the University of Wisconsin-Milwaukee and as an angel investor with Milwaukee Venture Partners Inc. He is also a lecturer in UW-Milwaukee’s School of Information Studies.

His emphasis has been teaching advance technology topics and entrepreneurship at UW-Milwaukee and Marquette University. His outside activities as founder of Milwaukee Venture Partners have helped support and fund several Wisconsin startup companies.

The Business Innovation Incubator is currently helping 10 startups acquire the skills needed to move their ventures forward. UWM students, faculty, alumni and members of the broader community were invited to participate in the 11-month program. The program will become an annual offering.

Growing a new venture and fund raising is a challenging endeavor, says Friedel. The incubator gives participants access to a network of successful investors and entrepreneurs for “custom consulting and mentoring” who greatly assist in this effort.

ASSOCIATE DIRECTOR OF ADMINISTRATION, CURRICULUM AND EVALUATION OF THE EDUCATIONAL OPPORTUNITY PROGRAM MARQUETTE

JOSEPH KEARNEY DEAN AND PROFESSOR OF LAW

MARQUETTE UNIVERSITY LAW SCHOOL

UNIVERSITY

Maggie Cinto, associate director of administration, curriculum and evaluation for Marquette University’s Educational Opportunity Program, leads a partnership with Pathways High school to tackle both persistent literacy gaps and teacher shortages in Milwaukee.

“Viewing these challenges as interrelated has unlocked a powerful new solution that can serve as a model for other university-high school partnerships,” said Melissa Schoeffel, Pathways High literacy specialist.

In the fall of 2021, MU undergraduate students in Cinto’s adolescent and disciplinary literacies course began co-facilitating weekly book club meetings with Pathways High students.

“Both groups of students have reported growth. MU students say they ‘became more mindful of what kinds of questions to ask, what students actually want to talk about and how to mediate group dynamics,’” Schoeffel said.

Pathways High book club students show more than 14% gains in reading engagement compared to students who did not participate.

“Maggie is integral to the continued evolution of this innovative partnership, working closely with the PH literacy specialist to clarify and strengthen the program’s scope, goals and structure,” Schoeffel said.

PHYLLIS KING

ASSOCIATE VICE CHANCELLOR UNIVERSITY OF WISCONSINMILWAUKEE

Phyllis King, associate vice chancellor at the University of Wisconsin-Milwaukee, has had a transformational impact on the Milwaukee area and on those who she mentors, according to Laura Schmidt, former chief talent development officer at the MKE Tech Coalition.

“She is innovative and collaborative, which allows her to not only think strategically but execute flawlessly. She is a builder and sets up new programs and initiatives for success before she moves on to her next challenge,” Schmidt said.

“In her primary role, she is trusted to advance key initiatives that are not yet defined and need to be structured. For example, she was one of the founding steering members of the Northwestern Mutual Data Science Institute as well as the Connected Systems Institute at UWM and the Freshwater Collaborative of Wisconsin,” she added.

King served as the first executive director and led the development of UW-Milwaukee’s Tech Ed Frontiers Program. She is currently the administrative lead for M-Cubed and an operational lead for the Higher Education Regional Alliance.

Since he was appointed dean of Marquette University Law School in 2003, Joseph Kearney has focused on what a law school can do to serve its community.

The mission to serve as a center for discourse on matters of law and public policy that impact the community led to the hiring of former news anchor Mike Gousha as a distinguished fellow in 2007 and the launch of his “On the Issues” series of conversations with newsmakers.

In 2012, the Marquette Law Poll released its first survey of voters in Wisconsin.

Recently, Kearney hired Derek Mosley, who had been a judge of the Milwaukee Municipal Court for 20 years, as the director of Lubar Center for Public Policy Research and Civic Education to carry on the legacy of community-engaged programming.

Outside of Marquette, Kearney works with the Wisconsin Supreme Court, the Wisconsin Board of Bar Examiners, the Bar of the Seventh Circuit and the State Bar of Wisconsin.

KAUSHAL CHARI

DEAN OF THE LUBAR COLLEGE OF BUSINESS UNIVERSITY OF WISCONSINMILWAUKEE

Dean of UW-Milwaukee’s Lubar College of Business since 2019, Kaushal Chari has expanded partnerships with industry and bolstered new business startups, while building the college’s reputation in analytics and innovation, according to Kristine Piwek, the college’s assistant dean of communication and administrative affairs.

“With 75% of Lubar graduates staying in Wisconsin, the college is a feeder school of employees for businesses across the region,” said Piwek.

To enhance graduate preparedness, the college has expanded its tutoring and mentoring programs, including those for first generation students and students of color, and created the ‘Lubar 25’ recognition program for outstanding undergraduate students.

Chari also led efforts to rejuvenate the college’s curriculum, and to launch a new online MBA program and a new master’s in digital supply chain management.

He also developed the Industry Connect project consulting program and expanded the network of business executive advisors to the college. Chari led the effort to develop the Business Innovation Incubator on the UW-Milwaukee campus, which is currently hosting 10 startups in its inaugural year.

CHERYL BAILEY

DEAN OF THE SCHOOL OF NATURAL & HEALTH SCIENCES AND EDUCATION MOUNT MARY UNIVERSITY

Cheryl Bailey, Ph.D., dean of the school of natural and health sciences and education at Mount Mary University in Milwaukee, became hooked on science after viewing trypanosome parasites swimming under a microscope. Once she began teaching, she found the same joy in helping students learn about the natural world, said Isabelle Cherney, president of Mount Mary.

Bailey has served as dean since 2014. She joined Mount Mary with experience as a program officer at the Howard Hughes Medical Institute in Maryland, associate professor at the University of Nebraska—Lincoln, and senior scientist at Promega Corp. in Madison.

Bailey also serves as chair of the education and professional development committee for the American Society of Biochemistry and Molecular Biology.

In addition, she led the development of several federal grants involving curriculum innovation, student support services and university infrastructure. These efforts have secured more than $17 million in federal and foundation grant awards since 2018.

“Motivated by her passion for science, Cheryl has dedicated her career to providing opportunities and removing barriers for students to pursue their professional, personal and community lives,” said Cherney.

BOB SCHWARTZ

DEAN OF THE SCHOOL OF ARTS AND DESIGN, DEAN OF THE SCHOOL OF BUSINESS

MOUNT MARY UNIVERSITY

As dean of Mount Mary University’s School of Arts and Design and its School of Business, Bob Schwartz oversees studio arts, fashion, interior architecture and design, music, movement and dance, along with the MBA, BBA and accounting programs.

Formerly the vice president of global design and user experience at GE HealthCare, Schwartz has held executive leadership roles at Procter & Gamble, Levolor Kirsch, Motorola, IDSA and AdvaMed. In 2015, the Industrial Designers Society of America named him among the 50 most notable industrial designers of the past 50 years. He also won a Design Management Institute lifetime achievement award in 2019.

With Mount Mary’s recent program launch in User Experience Design, Schwartz has drawn upon his experience in leading the global design function at GE HealthCare to structure a program that attracts and empowers diverse women to gain full inclusion in the digital STEM workforce.

“After his incredible career at tech corporations, the hallmarks of Bob’s contributions to Mount Mary encompass his expertise and his service to boards, charity and involvement in Milwaukee,” said Isabelle Cherney, president of Mount Mary University, located in Milwaukee.

KAREN FRIEDLEN VICE PRESIDENT OF ACADEMIC AFFAIRS MOUNT

MARY UNIVERSITY

As the vice president of academic affairs, Karen Friedlen, Ph.D., oversees Mount Mary University’s four academic schools, the Haggerty Library, registrar’s office and Burke Foundation-funded Grace and Caroline Scholars programs.

After teaching psychology for 20 years at Mount Mary, Friedlen has been in her current role for 10 years, leading teams to launch new academic programs. Most recent developments include food science, nursing, exercise science, counselor education and user experience design.

“Her involvement in the Higher Education Regional Alliance, a collaboration between 18 public and private universities and technical colleges in southeastern Wisconsin and a network of private industries and foundations, ensures Mount Mary is responsive to the future needs of the region’s industries and creates strategies that reduce success barriers for all students,” said Isabelle Cherney, president of Mount Mary, which is located in Milwaukee.

Friedlen also collaborates with Mount Mary grants management, faculty and deans to acquire funding that forwards curriculum innovation, student support services and university infrastructure. The interprofessional team has secured more than $17 million in federal and foundation grant awards since 2018.

KAREN FRIEDLEN Vice President for

CHERYL BAILEY Dean,

BOB SCHWARTZ

Keep up with BizTimes’ 2023 roundup of the leaders making a difference throughout southeast

Wisconsin.

At companies across southeast Wisconsin, notable executives are running businesses, navigating company restructurings, serving on boards, running marketing departments, and investing in growth throughout the region. The notable individuals profiled in these categories are nominated by their peers at work and in the community.

N OTA BLE BIPOC EXECUTIVES

These BIPOC leaders are credited with demonstrating forward-thinking leadership in their organizations and community.

Extended Nomination Deadline: Monday, January 23, 2022

Issue Date: February 27, 2023

Look for these Notable and Rising Stars nominations in 2023!

Notable Women in STEM Nomination deadline: February 17, 2023 Issue date: March 27, 2023

Notable Women in Construction & Design Nomination deadline: March 10, 2023 Issue date: April 17, 2023

Notable Mortgage Brokers and Title Officers Nomination deadline: April 7, 2023 Issue date: May 15, 2023

Notable Nonprofit Board Leaders Nomination deadline: April 28, 2023 Issue date: June 5, 2023

Notable Leaders in Accounting Nomination deadline: June 16, 2023 Issue date: July 24, 2023

Notable Alumni Nomination deadline: July 14, 2023 Issue date: August 21, 2023

Notable Leaders in Sustainability Nomination deadline: August 4, 2023 Issue date: September 11, 2023

Rising Stars in Manufacturing Nomination deadline: September 1, 2023 Issue date: October 9, 2023

Notable Women in Insurance Nomination deadline: September 15, 2023 Issue date: October 23, 2023

Notable Women in Hospitality Nomination deadline: October 13, 2023 Issue date: November 20, 2023

Notable Health Care Leaders Nomination deadline: November 3, 2023 Issue date: December 11, 2023

LAURA BRAY VICE PRESIDENT OF COLLEGE ADVANCEMENT AND EXTERNAL COMMUNICATIONS

MILWAUKEE AREA TECHNICAL COLLEGE EXECUTIVE DIRECTOR MATC FOUNDATION INC.

As Milwaukee Area Technical College’s vice president of college advancement and external communications and the executive director of the MATC Foundation Inc. since 2017, Laura Bray leads the college’s efforts in strategic employer and partner engagement, fundraising, alumni relations, marketing and communications, and funding and awarding student scholarships.

“Laura has brought a tremendous amount of expertise in economic development and fundraising to our executive team,” said Vicki Martin, president of MATC. “Her strengths in developing partnerships in the community and building a strong foundation board, while ensuring an effective communication plan for the college, is helping MATC redefine higher education by creating accessible pathways to family-sustaining employment.”

Those pathways include the full-ride, up to $7.5 million Ellen and Joe Checota MATC Scholarship program; the $6 million Froedtert Memorial Hospital Scholarship Fund; the $500,000 PepsiCo Uplift Scholarship program; and the MATC Promise program for high school students and adults.

“Laura is a dynamic, engaged and energetic leader,” said Julianna Ebert, president of the MATC Foundation board of directors. “Her influence will be felt for generations.”

SADIQUE ISAHAKU

DEAN OF GENERAL EDUCATION ACADEMIC & CAREER PATHWAY MILWAUKEE AREA TECHNICAL COLLEGE Sadique Isahaku, Ph.D., dean of Milwaukee Area Technical College’s General Education Academic & Career Pathway program, has focused much of his career on helping people in Wisconsin correctional facilities gain access to life-changing educational programs.

At MATC, he oversees all correctional education programs, including the Second Chance Pell Pilot Program, which provides funding for students to attend technical education classes while in prison.

“Dr. Isahaku is a trusted and respected leader who is valued for his ability to work effectively with diverse populations, his verbal communication skills, collegiality and his willingness to help and support others. He was instrumental in helping MATC become the first in Wisconsin to achieve experimental site status of the Second Chance Pell pilot program,” said Vicki Martin, president of MATC.

“Providing postsecondary education and training to incarcerated individuals has even higher returns than providing it to those who have been released,” Martin said. “In fact, more than 75% of Department of Corrections students participating in the Second Chance Pell program achieved academic honors.”

JOHN BENSON

FOUNDER AND PROGRAM DIRECTOR OF THE MENTOR INITIATIVE CONCORDIA UNIVERSITY WISCONSIN

Through the Mentor Initiative, John Benson, the program’s founder and program director, pairs business students at Concordia University Wisconsin, located in Mequon, with Milwaukee-area professionals in their desired career fields.

The Mentor Initiative has helped numerous students in the CUW community on the path to success and greatly impacted their professional development, according to Concordia student Matt LeVene.

“The mentor pool is diverse and vast, and Mr. Benson has a seemingly endless network of accomplished business executives eager to help mentor the next generation. What sets this program apart from others is Mr. Benson’s hands-on approach and care for each student in the program,” said LeVene. “He takes the time to know all of his mentees’ career goals, but also their hobbies and interests outside of business. This makes all the difference in finding a successful mentor for students and generates a connection quickly between the mentor and mentee.”

Benson has also brought in numerous speakers to present to students within the program. The speakers have talked about interview skills, work-life balance and other topics.

JOHN SWALLOW PRESIDENT CARTHAGE COLLEGE CHAIR

HIGHER EDUCATION REGIONAL ALLIANCE

When Carthage College president John Swallow, Ph.D., was named chair of the Higher Education Regional Alliance in fall 2021, he began looking for new ways to expand HERA’s impact across southeastern Wisconsin.

HERA is made up of 18 of the region’s higher education institutions and partner organizations. It focuses on closing student achievement gaps, increasing degree completion rates and expanding the region’s talent pool.

HERA recently launched a number of new programs, including setting a combined student retention goal. HERA is aiming to increase retention rates by six percentage points by 2024.

Swallow, along with three other chancellors and presidents in the region, were the first to commit to reducing equity gaps in higher education by 2030 through the Moon Shot for Equity initiative.

After learning of employers’ need for advanced training, Swallow prioritized upskilling. HERA launched a micro-credential catalog in December 2022 that includes more than 120 badge or certification programs. The catalog allows working professionals to browse continued learning opportunities.

JARVIS

RACINE VICE PRESIDENT OF STRATEGIC PARTNERSHIPS, WORKFORCE DEVELOPMENT AND GOVERNMENT AFFAIRS

HERZING UNIVERSITY

Jarvis Racine is the vice president of strategic partnerships, workforce development and government affairs at Milwaukee-based Herzing University.

In that role, Racine has focused on building new relationships with partners, especially with the Boys and Girls Clubs of Greater Milwaukee. Racine helped the organization receive 50 full-ride scholarships to Herzing University, according to Andre Douglas, senior director of the Graduation Plus and Leadership & Service program at Boys and Girls Clubs of Greater Milwaukee.

“He ensured that students had the support once arriving to campus, that their programs were the right fit, and that the enrollment process wasn’t a barrier,” said Douglas.

“Jarvis is a true believer in the power of partnerships. He works tirelessly and creatively with other organizations — community, educational, health care, public safety, business — to increase access to education and employment. The programs he has forged will change lives, provide needed workforce for (the) health care (industry) and contribute overall to the betterment of our community,” said Renee Herzing, president of Herzing University.

KATHY KRAMER

FOUNDING

DEAN OF THE SCHOOL OF EDUCATION AND HUMAN SERVICES CARROLL UNIVERSITY

Kathy Kramer, Ed.D., began her career in an elementary school classroom and for nearly 40 years has worked in educational and human services settings.

Since 2000, she has served as a faculty member in the education department at Carroll University in Waukesha.

While serving as the director of graduate education, Kramer helped launch Carroll’s master’s in teaching degree, an accelerated program that prepares those who have a bachelor’s degree, regardless of discipline, to become qualified teachers in 17 months.

In 2020, Kramer became the founding dean of the School of Education and Human Services, leading efforts around curriculum development, programming and partnership cultivation.

In 2021, Kramer facilitated the launch of Continuous and Lifelong Learning, a credentials program offering courses at the intersection of the liberal arts and rapidly changing workforce needs. These credentials focus on equity, access and inclusion. Topics include community-centered public safety, animal-assisted interventions and dyslexia intervention.

Also in 2021, Carroll launched its master’s in behavioral health psychology program, which is partnering with the City of Waukesha to form a behavioral health responder training program.

ABIGAIL HANNA VICE PRESIDENT OF ADMINISTRATIVE PLANNING AND INNOVATION AND CHIEF ORGANIZATIONAL DEVELOPMENT OFFICER CARTHAGE COLLEGE

Abigail Hanna, Ed.D., vice president of administrative planning and innovation and chief organizational development officer at Carthage College in Kenosha, is viewed by colleagues as a force for positive change.

“She is thoughtful, discerning and savvy about how to work with alumni, faculty, staff, students, community partners and board members and is never afraid to execute the plan once she determines it,” said John Swallow, president and CEO of Carthage.

Hanna was the lead staff member in the 17-month process to reconsider Carthage’s “Red Men” athletic team name. She advised on the composition of the large task force of board, faculty, staff and student members; managed that task force; and designed and analyzed constituent surveys. Through her leadership, the task force recommended moving past Red Men and adopting Firebirds as the new team name.

Hanna also oversaw the installation of a new ERP. She has moved Carthage through the finance and HR phase and is now leading the effort for student records.

MATHEW DORNBUSH

DEAN OF THE COFRIN SCHOOL OF BUSINESS UNIVERSITY OF WISCONSIN-GREEN BAY

In his role as dean of the University of Wisconsin-Green Bay’s Cofrin School of Business, Mathew Dornbush has established himself as a leader in higher education and the business community across the northeastern Wisconsin region, according to Sachin Shivaram, CEO of Wisconsin Aluminum Foundry and a member of the UW-Green Bay Council of Trustees.

The school’s outreach and business engagements focus on a 16-county footprint that runs along the lakeshore from Sheboygan to Marinette. UW-Green Bay has two-year branch campuses in Marinette, Manitowoc and Sheboygan.

“(Dornbush) is tireless in his outreach efforts, and he brings joy and energy with him wherever he goes,” Shivaram said. “Thanks in large part to his efforts, UW-Green Bay has bucked the national trend of declining student enrollment. The business school has been an engine of growth for the entire university, resulting in a remarkable increase in student population over the past few years.

“Students are increasingly demanding career-readiness preparation in college, and under Matt’s leadership the university has rolled out a business curriculum that is intense and practical in its training. Students are finding increasing success in job placements, and local employers hold the university in higher esteem than ever.”

enthusiastically encourages

staff,

Don’teversettleforaproviderornetworkcostsummarythatstatesthat theirdiscountsarethebest.Doyourduediligence,focusingontheend-

KeepWisconsinmoneyinWisconsin.Whileitmaybeeasytopurchase innationalsolutionclaimingtofixallofyourcompany’shealthcareissues

Change from the top

How to break bad leadership habits

ALBERT EINSTEIN SAID insanity is doing the same thing over and over again and expecting different results.

You fall into habits of doing the same thing over and over and getting frustrated when the outcome doesn’t miraculously improve. Maybe you don’t listen well. Or you don’t trust your senior management team to delegate. Or you give instructions but fail to include what you expect the outcomes to look like.

CEOs and business owners grow as leaders when they set their egos aside and recognize that a habit is interfering with their team’s success.

As a Vistage chair leading high-performing executives, my members are willing to be vulnerable and admit they need to change certain areas of their lives. They follow a unique technique I learned in my executive coach training on how to create new habits. It’s perfect for the new year.

IDENTIFY WHAT NEEDS TO BE CHANGED

First, be specific about what you’re trying to do. What habit is interfering with the effectiveness of your team’s success? List details including who, what, where, when and why the habit appears.

In great detail, define what behavior you want to change or create and what you will commit to doing. One example of a habit all successful leaders need to master is having strong listening skills.

Maybe you feel that when your employees are talking, you already know the “answer” and are not really listening. Or you need to ask more probing questions to understand the deeper issue. Or you

talk a lot and don’t give others a chance to be heard.

By not improving your listening skills, your staff will be less likely to develop their own abilities to grow within the company. Imagine how new listening habits could improve your relationships at home as well.

ASK OTHERS FOR HELP

The following habit-changing technique requires accountability, tracks progress and lets you receive ongoing advice. It requires you to involve others to help you learn new habits.

Next, commit to wanting the new behavior and to accept feedback from people who want to make you an even better leader.

Select five people from your professional life who will give you honest feedback. Each month, ask them two questions about the habit you want to change, and a follow-up question that asks for their honest, detailed feedback: Tell them to rate you on a scale of 1 (rarely seen) to 5 (seen all the time).

Explain what your behavior would look like. Receiving a “5” score means XYZ; receiving a “3” score means ABC.

1. How am I doing with improving my habit?

2. What’s one thing overall that I could do better as a leader?

3. What other advice would you have for me?

How you respond will determine if your leadership team believes that you respect their feedback.

Your goal with question #1 is to achieve three consecutive months with the average score of 4.5 or higher.

The second question continues the discussion because you trust their perspective in becoming the best leader for all your employees beyond the new habit you are forming.

The third question is strategically placed. As an executive coach, I’ve learned the power behind

asking “and what else?”

Next, put some logistics in place. Schedule one-on-one meetings with your senior team. And, before reviewing the five people’s scores, give yourself a score for the first question.

Ask these people to let you know when you’re lapsing into the bad habit. If, for example, you need to improve your listening skills, and someone thinks you’re talking more than listening, that person can send you a subtle signal by tugging on their ear or rubbing their nose.

Don’t be discouraged by setbacks. Achieving three consecutive months with a score of 4.5 or higher will require great effort. If you admit you don’t know everything, your executive team will follow your lead to strengthen their own leadership skills. Everyone will be stronger as a result. n

LIZA L e CLAIRE

Liza LeClaire has operated a regional retail business since 1990 and taught MBA classes since 2017. She leads an executive board for Vistage Worldwide Inc., a professional development group for CEOs, presidents and business owners. She can be reached at LizaLeClaireConsulting@gmail.com.

Time to reset

anything successfully if you don’t have buyers.

Last year, 78% of CEOs surveyed reported that buyers’ behavior changed because of the COVID-19 pandemic. Slightly more than half (51%) of Wisconsin CEOs reported their buyers’ behavior has changed due to inflation. Business leaders continue to be challenged by how they communicate with and sell to customers in an increasingly digital-first world and in a hybrid workforce.

training programs – 70% of those surveyed said they have already created internships or apprenticeship programs or intend to in 2023. This is truly a long-game strategy to retention. Building someone’s skills from the ground floor embeds loyalty and helps fill talent gaps by widening the pool of available talent.

RECESSION OR NOT, the economy is entering a period of relative stability.

The Vistage CEO Confidence Index increased slightly to 75.3 in Q4 2022, 1.9 points higher than Q3 2022 and 6.3 points higher than Q2 2022. Even with these modest gains, it remains 22.3 points below Q4 2021, and is one of the lowest readings to date in the index’s 20-year history. The index measures the sentiment of business leaders on a variety of economic and business factors. Vistage surveys about 1,500 small and midsize companies in the United States each quarter.

A key driver of the low level of confidence can be attributed to sentiment about the U.S. economy. Just 4% of Wisconsin CEOs surveyed believe the economy will improve in the year ahead, while 53% believe it will worsen.

That can be attributed to the headwinds of high inflation and skyrocketing interest rates clashing against a resilient and strong labor market to essentially create an economic stalemate. Nobody wins big and nobody loses big.

While this period of uncertainty presents a variety of obstacles, it also gives many CEOs the time and opportunity to reset and refocus on the two items that are most important for a business to succeed: customers and talent.

CUSTOMERS’ BEHAVIOR HAS CHANGED

First and foremost, customers are at the heart of every company’s ability to succeed. You can’t sell

This creates opportunity for customer-focused companies that are prepared to meet customers where they are, equipped with the relevant messaging. Customer-focused strategies need to accelerate decisions in a time where budgets are tighter and sales cycles are longer.

KEEPING TOP TALENT IS CRITICAL

Employees are the fossil fuel of every organization’s growth. Leaders learned just how crucial having the right talent was during The Great Resignation that started in early 2021 when employees voluntarily resigned from their jobs en masse, in the wake of the COVID-19 pandemic. Hiring became a near impossibility.

Even today, 69% of Wisconsin CEOs report the problem of operating at full capacity due to hiring issues. Despite economic uncertainty, 56% of Wisconsin CEOs plan to hire more workers in the year ahead. The healthy jobs market remains a bright light in an otherwise gloomy U.S. economy.

Retention is one of the most cost-effective and efficient ways for CEOs to shore up their workforce and fill productivity gaps. Over half of Wisconsin CEOs (57%) have already either added retention bonuses, or plan to, in the year ahead.

To further hone their retention strategies and help increase productivity, nearly all (97%) of Wisconsin CEOs either already invest in employee development programs or plan to in 2023. Another 93% have either already invested in leadership development or plan to.

Wisconsin has also seen a surge in employee

In tandem with retention, 81% of Wisconsin CEOs report they’ve invested in technology to reduce labor burdens. These investments are not intended to replace people with robots, but to increase collaboration, amplify productivity, fill hiring gaps and improve the employee experience – particularly for digital-native Gen Zs and millennials.

CEOs who use this time of low economic growth to turn inward and focus on the fundamentals – their customers and their employees –will be poised to weather the storms of persisting inflation and more interest rate hikes.

As long as unemployment remains at near-bottom lows, the economy will continue ticking forward but at a slower pace. Those who master the basics now will be first in line when the economic merry-go-round inevitably starts again. n

JOE GALVIN

Joe Galvin is chief research officer for Vistage Worldwide and can be reached at research@vistage.com. For more reports and insights, or to connect with a Vistage chair, visit vistage.com/research-center.

With slow economic growth expected in 2023, businesses should focus on their customers, and their employees

NONPROFIT

BANKING

Wellpoint Care Network names Ted Uczen Chief Operating Officer

Ted Uczen is now the Chief Operating Officer at Wellpoint Care Network. Prior to joining Wellpoint, Uczen was President and CEO of the social enterprise FEI Behavioral Health, Inc. Uczen has also held roles as the Senior Vice President of Banking Solutions at Metavante, Chief Customer Officer at NuEdge Systems and Director of Consulting at Retail Target Marketing Systems. He is known as a collaborative leader with a record of success by achieving results through holistic relationship development, strategic marketing, and an emphasis on growing revenue.

Bryan Lisowski Joins Wisconsin Bank & Trust

Bryan Lisowski has joined Wisconsin Bank & Trust’s rapidly expanding Milwaukee team, as Senior Vice President, Commercial Banker. Bryan comes to the bank with over 16 years of experience in all facets of middle-market commercial banking. He has diverse industry experience, working with contractors, manufacturers, and distributors through high growth and ownership transitions. Bryan is a graduate of University of Wisconsin – Whitewater with a degree in Finance, as well as a graduate of the Pacific Coast Banking School at the University of Washington. WBT is a Member FDIC and Equal Housing Lender.

BIZ UPDATE

WEST BEND PROMOTES ERTMER AS CHIEF OPERATING OFFICER

INSURANCE

The Horton Group, one of the largest privately-held insurance brokers in the United States, announced that Dan Burkwald has joined the company as an executive vice president of Horton’s Employee Benefits Solution division. Burkwald brings more than 40 years of experience to Horton and will be based in their Waukesha office. He is responsible for expanding Horton’s consulting capabilities beyond population health and creating opportunities in the talent acquisition and compensation consulting fields. He also helps recruit future sales/ customer service team members and maintains strong relationships with vendors.

BANKING

Wintrust Commercial Banking at Town Bank, N.A. Hires New Division Manager

Wintrust Commercial Banking at Town Bank, N.A. is proud to welcome Division Manager Brent Hamm to their team. Brent brings over 20 years of experience serving middle market clients in a wide range of industries throughout Wisconsin, including roles in credit underwriting and portfolio management, capital markets loan syndications, client relationship management and new business development. Brent is a graduate of the University of Wisconsin-Eau Claire with a Bachelor’s Degree in Business Finance and will be responsible for helping grow the Wintrust Commercial Banking presence throughout Wisconsin.

West Bend Mutual Insurance Company announced the appointment and promotion of Dave Ertmer to Chief Operating Officer (COO). Having joined West Bend in 2009, Dave’s industry background includes almost three decades of experience and

MANUFACTURING

Sheboygan

Sheboygan Paint Company is pleased to announce the appointment of its new President and CEO, Paul Krueger, effective January 3, 2023. Krueger brings 35 years of industrial coatings experience to his new role. “The company’s position as an innovative, service-driven, midsized company – coupled with its investment in novel technology development –offers tremendous potential to our customers and employees” said Krueger. “I look forward to leading the organization toward its vision of becoming the most recognized family-owned industrial coatings company in the U.S.” Current CEO Peter Kirton will retire at the end of 2022.

leadership. “As we continue toward achieving our strategic goals, we are taking the necessary steps to introduce the COO role to our leadership team. This new position will be instrumental to our operational performance and ensure we’re positioned for the future,” stated Kevin Steiner, CEO of West Bend. As COO, Dave will continue to lead claims operations and have expanded responsibilities overseeing the business operations. Additionally, he’ll lead the company’s longterm initiatives and goals, including emerging technologies and innovation.

FINANCIAL SERVICES

Andy

nearly

of public accounting and corporate controllership experience serving public and private clients across various industries and ownership structures.

At Vrakas, Andy will specialize in providing assurance and accounting advisory services to privately held, for-profit companies, including private equity and ESOP-owned companies, across a variety of industries. Andy will also be responsible for growing our Midwest client base while developing a professional service team in Illinois that will be dedicated to servicing this client base.

Dan Burkwald Joins The Horton Group as Executive Vice President

Andy Kamphuis joins Vrakas CPAs + Advisors

Kamphuis joins Vrakas with

15 years

Paint Company Announces Transition to New CEO

BIZ PEOPLE Advertising Section: New Hires, Promotions and Board Appointments

MANUFACTURING

WMEP Manufacturing Solutions announces Chris Baichoo as new Executive Director/ CEO

WMEP Manufacturing Solutions (WMEP) announced it has selected Chris Baichoo as its new CEO and executive director. Baichoo brings extensive manufacturing experience and a strong history of driving increased sales, improving operational efficiencies and addressing employee and supply chain challenges. He previously served in leadership roles at Datec Coatings, Perlick Corp., and Federal Industries. “We were looking for someone who was passionate about helping Wisconsin manufacturers and we’ve found that with Chris,” said Todd Zakreski, chair of the WMEP board of directors and president of HUSCO Automotive.

LEGAL SERVICES

Gimbel, Reilly, Guerin & Brown LLP Welcomes Attorney Zak Wroblewski

The Milwaukee, Wisconsin based trial and litigation law firm of Gimbel, Reilly, Guerin & Brown LLP (GRGB) is pleased to announce the addition of Attorney Zak Wroblewski to the firm’s litigation team.

LEGAL SERVICES

von Briesen & Roper, s.c. welcomes Mark Kapocius to its Milwaukee office.

Mark is a Shareholder in

the Government Law Group and School Law Section. Mark has more than 20 years of experience in working in administrative leadership roles for school districts in Wisconsin.

MANUFACTURING

MANUFACTURING

Joel Casterton Named President of Charter Steel

Tom Marry has been promoted to President & COO for Charter Manufacturing, after serving as President of Charter Steel. Marry will be responsible for the strategy and overall operations of Charter Manufacturing’s four businesses.

BANKING

Waukesha State Bank Hires L. Wesley MCKenzie III as Commercial Banker

Waukesha State Bank has hired L. Wesley MCKenzie III as assistant vice president - commercial banking officer. In his new role, MCKenzie will be responsible for prospecting, developing and managing commercial loan portfolios.

Joel Casterton has been named the President of Charter Steel, an integrated U.S. steel producer with operations in Wisconsin and Ohio. Casterton is responsible for guiding company operations to ensure growth, performance and people strategies.

HEALTHCARE

Scas Management Group Announces New Medicare Operations Coordinator

Scas Management Group welcomes Jonathan Felix as the new Medicare Operations Coordinator. Jonathan has been directing health care operations for over 12 years and will expand SMG administrative services to Medicare ACOs and Medicare Advantage Plans.

HEALTHCARE

ARCHITECTURE

Scas Management Group Announces New Health Communication Coordinator

SMG welcomes Emily Daw as the new Health Communication Coordinator. Emily has worked in health administration for 5 years and will develop and expand communication plans, materials, policies, and procedures within SMG and other lines of business.

FINANCIAL SERVICES

Nick Abresch Joins Johnson Financial Group as AVP, Commercial Banking

Nick Abresch joined Johnson Financial Group as AVP, Commercial Banking. Abresch works with businesses in various industries to provide solutions including working capital, machinery and equipment, real estate, management buyouts and acquisitions.

HGA has named Mark Bultman Healthcare Market Sector Leader

HGA has named Mark Bultman Healthcare Market Sector Leader. In this key position, based out of the Milwaukee office, he will direct the performance and growth of the national healthcare practice across 12 offices.

ARCHITECTURE

Kahler Slater Promotes Trina Sandschafer to Executive Vice President

Trina Sandschafer has been promoted to Executive Vice President, providing firmwide leadership and overall strategic direction. She serves as Design Principal as well as a national leader for residential, hospitality, and corporate practices.

FINANCIAL SERVICES

John Chidester Joins Johnson Financial Group as SVP, Commercial Banking

John Chidester has joined Johnson Financial Group as SVP, Commercial Banking. With more than 13 years of experience in commercial banking, Chidester specializes in partnering with privately held, family-owned businesses in the Milwaukee area.

ARCHITECTURE

Tracie Parent has been promoted to Executive Vice President, providing firmwide leadership and overall strategic direction. As CFO and COO, she oversees operations and provides executive direction to finance, technology, and human resources.

FINANCIAL SERVICES

Shannon Garrity Joins Johnson Financial Group as SVP, Commercial Banking

Shannon Garrity joined Johnson Financial Group as SVP, Commercial Banking. With over 20 years of industry experience, she serves a variety of businesses, including manufacturing, nonprofits, construction, and multi-family and industrial real estate.

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BIZ PEOPLE Advertising Section: New Hires, Promotions, Accolades and Board Appointments

Kahler Slater Promotes Tracie Parent to Executive Vice President

Tom Marry Promoted to President & COO of Charter Manufacturing

Greg Ryan

it forward

‘snowblows’

IT WAS THE FIRST SNOW of winter in Wisconsin, and Greg Ryan’s phone was ringing non-stop.

That’s because Ryan, an engineer by trade, spends the season repairing old snowblowers and giving the good-as-new machines to Milwaukee families for free. It’s what he calls “snowblowing it forward.”

“Every year, people call me right when it’s supposed to snow,” Ryan said with a laugh. “They always start the conversation with, ‘I know you must be busy.’”

Busy is an understatement, Ryan said. By his estimate, Ryan will give away dozens of snowblowers by the end of the 2023 winter season.

Before he became known as “the snowblower guy,” Ryan was president of the now-defunct New Berlin-based ExecPC, which was considered Wisconsin’s largest internet service provider in the 1990s.

“I was entranced by electricity and electronics,” said Ryan, who

spent his childhood tinkering with friends’ radios and televisions. “But after all those years as an engineer, and most of that time spent sitting in front of a keyboard, I missed getting my hands dirty.”

It was time for a change, Ryan decided. So, after stepping away from his role at the company in the early 2000s, he returned to what he loved most: small engine repairs that served his community.

With his mobile repair business, Greg’s Small Engines, Ryan quickly earned a reputation in Milwaukee’s Riverwest, East Side and Harambee neighborhoods as the go-to guy for on-site tune-ups. Soon, customers who bought themselves new snowblowers for the season started offering up their old ones to Ryan, and he would then turn a profit by fixing them and selling them on Facebook or Craigslist.

But Ryan found himself more fulfilled when he fixed the machines and gave them away for

free, he said.

“There are a lot of people who can’t afford these machines, and especially in Wisconsin, a snowblower is a wonderful thing to have,” Ryan said. “If you don’t have a snowblower and you don’t have a shovel, you may not be able to get to work.”

Working for “Christmas snacks, donations of beer,” and occasionally Amazon gift cards to cover costs of tools and spare parts, Ryan admits the job comes with a sizeable salary slash – but it’s not without a positive payoff.

“I’m actually way happier,” said Ryan, who no longer performs on-site tuneups through Greg’s Small Engines but rather refers customers to two younger men he personally trained. “It’s a terrific feeling to have people happy to see you.”

Demand for his services has been so great that his Riverwest

neighbor lets Ryan use his garage for extra space, Ryan said. And by building relationships with so many Milwaukeeans, Ryan’s services snowball into something bigger.

“I’m happy to give you a snowblower,” Ryan said. “But promise to help your neighbor and pay it forward.” n

Greg Ryan

Former president ExecPC Service: Free snowblower donations to Milwaukee families

LELAH

Greg Ryan

Preparing for closing

This

COMMENTARY

GE HealthCare rings our bell

THE RECENTLY COMPLETED spinoff of GE HealthCare from General Electric creates a new independent company with about 51,000 employees and nearly $18 billion in annual revenue. It’s a global company with research and development work done in 18 countries and manufacturing operations in 20 countries.

And it’s one of the most important companies in Wisconsin.

While based in Chicago, GE HealthCare has a huge presence in Wisconsin with about 5,200 employees in the state. It has a major impact on Wisconsin’s economy. The company has an $800 million annual supply chain spend in the state, according to Tim Sheehy, president of the Metropolitan Milwaukee Association of Commerce.

Likewise, Wisconsin is very important to GE HealthCare. Earlier this month, when the company marked the completion of its spinoff with a ceremony to ring the opening bell for the Nas -

daq exchange, it held the big celebration at its Waukesha facility, not at its Chicago headquarters or any of its other facilities around the world.

More than half of the company’s Wisconsin employees are based in Waukesha. By having its spinoff and Nasdaq bell-ringing ceremony there, the company, “shows their commitment to this region and growth potential that we have here,” Waukesha County Executive Paul Farrow said to WISN-TV Channel 12, a media partner of BizTimes Milwaukee.

“The pride and commitment of our teams and our legacy in Wisconsin runs deep,” a GE HealthCare spokesperson told BizTimes Milwaukee. “Waukesha is an important flagship location for the business and our team members. Many of the executive leadership and cross-functional teams who support our segments, for example, supply chain, quality and regulatory, digital, marketing, etc., are based in Waukesha. These teams work closely with the product research, development and engineering teams and are responsible for delivering on our care pathway and precision innovation strategy, which is key to our success.”

In 2020, the company announced plans for a major investment in its West Milwaukee facility and said it planned to move 1,500 jobs to that facility and its Wauwatosa location. Most of those

VOLUME 28, NUMBER 16 | JAN 23, 2023

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jobs were to be moved from Waukesha.

The company later listed its 561-acre campus in Waukesha for sale but, by the end of 2021, changed its mind and pulled the Waukesha campus off the market to keep operations there.

Meanwhile, the company moved forward with improvements to its West Milwaukee facility. It added more than 200 production jobs there, invested more than $60 million in the facility and plans to add a 40,000-square-foot expansion.

“(The West Milwaukee facility) has received more investment than any of our other med tech manufacturing sites globally,” the company spokesperson said. “We plan to continue investing in manufacturing capacity at this site to meet continued global demand.”

Having GE HealthCare maintain a huge presence in Waukesha and still expanding in West Milwaukee is a best-case scenario for the region. n

ANDREW WEILAND

EDITOR

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January 1981 photo shows a clerk at the cash register of the TA Chapman Department Store at 401 E. Wisconsin Ave. in downtown Milwaukee. The shelves are empty as the store prepares to close. Built in 1885, the department store building was razed in 1982 to make way for the 30-story 411 East Wisconsin Center office building.

— Photo courtesy of Milwaukee Public Library / Historic Photo Collection

TONY BUGHER

President of Jacob Leinenkugel Brewing Co.

In December, Chippewa Falls-based Jacob Leinenkugel Brewing Co. unveiled plans to open a brewery, bar and restaurant at American Family Field in Milwaukee. The J. Leinenkugel’s Barrel Yard will open in March, taking over the former Restaurant to be Named Later space in left field. BizTimes Milwaukee reporter Ashley Smart caught up with Leinenkugel’s new president Tony Bugher to discuss the planned brewpub concept. Bugher explained how the Barrel Yard will allow the company to hone its focus on innovation and expand brand awareness. Below are portions of their conversation, edited for length and clarity.

ON WHAT MAKES THE BREWPUB A GOOD PARTNERSHIP

“The opportunity to really talk to consumers on a consistent basis. When you think about a baseball season, you’re talking about 81 home games. That’s 81 opportunities where you’ve got thousands of fans, and we want to hear from them. Plus, this type of setup gives us the opportunity to play around with different (beer) recipes and styles. That’s something that’s pretty hard for us to do frequently at our bigger operations.”

INTRODUCING MORE INNOVATIVE BEERS

“(The brewpub) will be very similar to the setup we have in Chippewa Falls with our pilot system at the Leinie Lodge. This system is a little bit smaller than that. It’s a three-barrel system. We’ll have all the fan favorites there like Summer Shandy and Juicy Peach, but the cool thing about this system is it will allow us to brew different styles. We can play around with new recipes. Like I said, we want to hear from the fans and hear their ideas. We’ve got the capability to brew them now and the flexibility to turn things around quickly. That’s the most interesting and exciting thing for me.”

SEEKING INSPIRATION FROM SIMILAR CONCEPTS

“There is a Terrapin brewery at the Atlanta Braves’ stadium that I had spent a lot of time at. It’s called the Brew Lab. I was able to get a lot of eyes on it and see how they operated and understand customer dynamics. Certainly, a lot of inspiration came from that and visiting other stadiums, too. The design is going to feature a lot of historical cues from Leinenkugel. (Customers are) going to be able to see the brewing process, too. It’s also going to be very open and modern.”

FOOD CONCEPTS

“We haven’t completely landed on that right now. We’re working on it. What I think you can expect is something better than what you get at just your general concession stand, but you can’t expect artisanal food. It’s going to be food that you would want to have at a baseball game, but it’s going to be better than the standard hot dog, pretzel or Cracker Jacks. That’s kind of our baseline.” n

Tony Bugher

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