NOMINATIONS NOW OPEN! NOTABLE WOMEN
IN CONSTRUCTION & DESIGN
BizTimes Milwaukee is launching the BizTimes Media 2020 Notable Women in Construction & Design feature within the May 25th issue of BizTimes Milwaukee. This special editorial feature will profile women in construction, industrial/ commercial design, architecture and engineering in southeast Wisconsin. Your company, and its executives, are invited to submit a nomination form that will help us determine this year’s honorees. The special section will run in print and online, recognizing the chosen individuals for their accomplishments.
Nominations Now Open! Deadline is April 24
NOTABLE
NOTABLE WOMEN
The brokers on this list will be among southeast Wisconsin’s highest-selling producers: to make the list, each must have closed a minimum of $10 million in home sales in 2019.
Recognizing women who have a track record of setting legal precedents, winning big cases for their clients and mentoring the next wave of women in law – all while finding ways to give back to their communities.
RESIDENTIAL REAL ESTATE AGENTS
Nomination Deadline: Friday, May 29, 2020 Issue Date: June 29, 2020
IN LAW
Nomination Deadline: Friday, July 17, 2020 Issue Date: August 17, 2020
NOTABLE WOMEN
NOTABLE WOMEN
The women on this list are steering the financial functions of their companies and nonprofits and leading in the fields of investment banking, investment management and private equity.
The executives on this list are shaping their own organizations as well as the path forward for other women in the industry.
IN FINANCE
Nomination Deadline: August 7, 2020 Issue Date: September 7, 2020
IN MANUFACTURING
Nomination Deadline: September 4, 2020 Issue Date: October 5, 2020
To learn more and nominate, visit biztimes.com/notable
LOCALLY OWNED FOR 25 YEARS
» MAR 30 - APR 26, 2020
biztimes.com
BizTimes Milwaukee (ISSN 1095-936X & USPS # 017813) Volume 26, Number 1, March 30, 2020 – April 26, 2020. BizTimes Milwaukee is published bi-weekly, except monthly in January, April, May, July, August and December by BizTimes Media LLC at 126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120, USA. Basic annual subscription rate is $42. Single copy price is $3.25. Back issues are $5 each. Periodicals postage paid at Milwaukee, WI and additional mailing offices. POSTMASTER: Send all UAA to CFS. NON-POSTAL AND MILITARY FACILITIES: Send address corrections to BizTimes Milwaukee, 126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120. Entire contents copyright 2020 by BizTimes Media LLC. All rights reserved.
Contents
4 Leading Edge 4 NOW BY THE NUMBERS 5 BIZ LUNCH 6 MY FAVORITE TECH COFFEE BREAK 7 JUMP START 8 INNOVATIONS 9 THE GOOD LIFE 10 WHO’S ON THE BOARD BIZ POLL
11 Biz News 11 THE INTERVIEW 12 SEEN AND HEARD AT THE M&A FORUM
14 Real Estate
COVER STORY
16
34 Strategies
The coronavirus Public health crisis sends shockwaves through economy
Special Report
34 FAMILY BUSINESS David Borst 35 MANAGEMENT Susan Marshall 36 ENGAGEMENT Christine McMahon
39 Biz Connections 39 PAY IT FORWARD
26 Real Estate and Development
30 Higher Education and Research
Coverage includes how the coronavirus has affected all aspects of real estate and a report on how the shortage of affordable homes continues to plague the metro Milwaukee housing market.
Coverage includes a report on how Lakeland University’s co-op program is addressing student debt and local workforce shortages and a report on how the Northwestern Mutual Data Science Institute’s research is focusing on major social issues.
40 GLANCE AT YESTERYEAR COMMENTARY 41 AROUND TOWN 42 MY BEST ADVICE
WE’RE PROUD TO BE
WISCONSIN’S BANK FOR BUSINESS ™
414-273-3507 | townbank.us JAY MACK President & CEO
JOHN JOHANNES Executive Vice President, Commercial Real Estate
DENNIS KRAKAU Executive Vice President, Commercial Banking
biztimes.com / 3
Leading Edge
BIZTIMES DAILY – The day’s most significant news → biztimes.com/subscribe
NOW
Some retailers see business surge By Andrew Weiland, staff writer Social distancing requirements to reduce the spread of the COVID-19 coronavirus in America have had a devasting effect on most of the economy. One notable exception is grocery stores, as shoppers have stocked up on food and other essentials, especially toilet paper. With schools closed, many employees forced to work from home and restaurants only able to offer carry-
out or delivery services, people are eating more at home, and therefore are buying more groceries. As a result of the sudden surge in business, Milwaukee-based Roundy’s Supermarkets Inc. recently announced that it plans to hire 2,500 people to work at its Pick ‘n Save and Metro Market stores in Wisconsin. Roundy’s says it needs help in all positions and all shifts at its 106 stores in Wisconsin,
BY THE NUMBERS Kohl’s Corp. said it has fully drawn its
$1 BILLION unsecured credit facility to increase its cash position and preserve financial flexibility during the coronavirus outbreak. 4 / BizTimes Milwaukee MARCH 30, 2020
including full-time, part-time and salaried management positions. Roundy’s is a wholly owned subsidiary of Cincinnati-based The Kroger Co. It has nearly 100 Pick ‘n Save stores in Wisconsin and 10 Metro Market stores. Kroger recently hired more than 2,000 people in the one week to keep up with increased demand from the coronavirus outbreak, chief executive officer Rodney McMullen told CNBC. The company, the largest supermarket chain in the U.S., currently has more than 10,000 openings for positions across plants, warehouses and stores, McMullen said. Walmart said it will hire 150,000 employees, including 4,200 in Wisconsin, to work in its stores and distribution centers. The company said it would provide more than $365 million in bonuses to hourly workers. Minneapolis-based Target is also seeing a surge of business during the coronavirus outbreak. “We continue to experience incredible demand across our business, and Target’s ability to help our guests in this unprecedented time would not be possible without the strength of our team,” Target CEO Brian Cornell said in a statement. “I am proud and humbled by the dedication and humanity they show to our guests every day.” Target said it is spending more
than $300 million in higher wages, bonuses and paid leave related to the coronavirus outbreak. The company said it will increase its hourly wages by $2 for its 300,000plus workers. Target said it will also pay out bonuses in April that range from $250 to $1,500 to 20,000 hourly store team leaders who oversee individual departments in stores. The company also said it is adding a new benefit to give workers who are pregnant, 65 years old or older or who have underlying health risks and don’t feel comfortable working access to paid leave for up to 30 days. With more consumers having to stay home, more of them are shopping online. To handle its increase of orders, Seattle-based Amazon announced plans to hire 100,000 new employees, including 700 in Wisconsin at its Kenosha fulfillment and sortation facilities, its Prime Now hub in Milwaukee, a pick-up location in Madison and at its three Whole Foods stores in the state. “We are opening 100,000 new full- and part-time positions across the U.S. in our fulfillment centers and delivery network to meet the surge in demand from people relying on Amazon’s service during this stressful time, particularly those most vulnerable to being out in public,” the company said in a statement. n
1
BIZ LUNCH
Lunch
Biz ZISTERS
WEBSITE: eatzrg.com
CONTRIBUTED
2
A D D R E S S: 13425 Watertown Plank Road, Elm Grove
CUISINE: Traditional American brunch with a twist M O O D: Modern-chic, but warm and friendly PRICING: Brunch, $7-14; Dinner, $10-18 Since opening in June 2018 in Elm Grove, Zisters has gotten busier by the month, serving up brunch to locals. While it’s a popular spot for weekend warriors, it also brings in a business crowd during the week. The restaurant boasts quick service, custom-blend Hawaiian-sourced coffee, and an aesthetic and modern décor that’s appropriate for a small lunch meeting or individual workspace. “People take advantage of that when they’re meeting somebody in a professional setting,” said Betsi Zierath, who operates the restaurant with her sister Gabbi – hence the restaurant’s name. It’s one of three restaurants owned by their family’s business, Zierath Restaurant Group. The concept was inspired by their travels throughout Southeast Asia. Zisters’ outdoor patio is being improved to make diners “feel like they’re on vacation,” said Zierath. Due to the ongoing coronavirus outbreak, Zierath Restaurant Group has temporarily limited operations at Zisters and its other two restaurants to carryout only.
3
1 2 3
Menu items range from French toast to Benedicts to burgers, including the popular Breakfast Burger. The Chicken and Waffles is a crowd favorite. Crispy fried chicken is served on a housemade waffle, with honey butter and warm maple syrup.
A neon sign reading “Champagne is the new coffee” sets the mood.
biztimes.com / 5
Leading Edge COFFEE BREAK
Joe Poeschl Program director, co-founder The Commons
333 N. Plankinton Ave., Milwaukee thecommonswi.com
ERIC CLARK Client success associate, SWICKtech Eric Clark, a client success associate at New Berlin-based SWICKtech, recently launched his own GPS hunting app, called Where to Hunt, and a podcast by the same name. Clark relies on a variety of tech tools to improve his workflow.
ADOBE SPARK “I use Adobe Spark for creating branding, clean, and professional content on the go. It is a mobile and web app accessible from either my smartphone or my desktop computer. I use it to create social media ad graphics consistent with various branding, logo designs, iconographic displays (for Instagram stories) and use it heavily as a templated design for the Where to Hunt podcast.“
ANCHOR.FM “I use this for podcast creation, collaboration, and editing on the go and/or from the desktop. This app has changed how I run the Where to Hunt podcast. It hosts my podcast for free, provides revenue with no minimum listenership and provides super-detailed analytics about our listener base. It also has created tools built in to leverage various sound effects, music and the ability to invite guests right from their app. This has made producing our podcast far more efficient, mobile, and provides more visibility into what our audience likes.”
GRAMMARLY “This particular app is web-based and helps to ensure that when I send emails, or write content, that my spelling and grammar is checked before submission. This comes in handy when writing weekly or monthly updates to investors.”
AUDIBLE “Being on the go, working a day job, raising a family, and getting a startup off the ground, it helps to turn windshield time into productive time. I do this by reading at least one book every two weeks via Audible, which is Amazon’s app for audiobooks.” n 6 / BizTimes Milwaukee MARCH 30, 2020
• Poeschl was a partner in a Chicago-based design and development firm before starting The Commons in 2014. • He was born in West Allis, grew up in Slinger and later attended Marquette University and Milwaukee Institute of Art and Design, where he studied advertising and design. • He later attended an advertising portfolio school in Minneapolis to round out his creative portfolio. • He finds personal and professional satisfaction through The Commons programming. “We’ll watch young students, professionals and they’ll think, ‘I don’t know why I’m here.’ We get to take and kind of play with that mindset and very quickly squash it and then have it reassemble itself into this newfound confidence. As silly as it is, I do get a physical reaction to that – I have this stupidly long arm hair that will stand up and stuff.” • Poeschl has a family radiation detection kit. Why? Because he’s a collector who has accumulated odds and ends from rummage sales, thrift stores and flea markets. It’s a hobby that’s rooted in his high school days working as a receiver at a thrift store. “You got to see everything that humanity has ever collected before coming through these doors and it turned itself into this weird amalgamation of human beings and style and aesthetic. It probably influenced a lot of my designer brain because I like to analyze that sort of thing.” n
JAKE HILL PHOTOGRAPHY
MY FAVORITE TECH
Employees: Five
LOCATION: Milwaukee
ANDREW FELLER PHOTOGRAPHY
SCRATCH ICE CREAM FOUNDERS: Ryan Povlick, founder; Dustin Garley, partner; Justin Povlick, partner FOUNDED: 2016 PRODUCT: Small batch ice cream made from scratch WEBSITE: scratchicecream.com EMPLOYEES: 10 GOAL: Expand into new markets and launch two new locations
Dustin Garley, Ryan Povlick and Justin Povlick.
Scratch Ice Cream grows production, eyes new locations By Brandon Anderegg, staff writer
TUCKED AWAY in a small kitchen on Milwaukee’s East Side is a three-man ice cream operation churning out hundreds of hand-packed pints a day. The trio – Ryan Povlick, Justin Povlick and Dustin Garley – run Milwaukee-based Scratch Ice Cream, a producer of small-batch ice cream made from scratch. Scratch is known for its variety of flavors, including Door County Cherry, Mint Chip Brownie and Cold Brew & Toffee. The startup kicked off 2020 in a new 1,100-square-foot kitchen on Farewell Avenue, which allowed it to increase its backstock and ramp up its production of ice cream. Scratch has a wholesale focus and can be found in a variety of grocery stores across southeastern Wisconsin. It also sells ice cream at Zocalo Food Park and Crossroads Collective in Milwaukee. Scratch was recently featured on WISNTV Channel 12’s “Project Pitch It,” where the startup earned $5,000 and one year of business coaching and strategy deployment. Now the company has plans to open a new location at Flour and Feed food hall in Bay View and a second food truck in a location yet to be determined. But the story behind two of Scratch’s ice cream producers wasn’t always sweet. Both
Ryan Povlick and Garley struggled with heroin addiction. Shortly after Povlick became sober, he started working for his aunt and uncle’s business, Yo Mama! Frozen Yogurt in Wauwatosa. During his off time, Povlick stayed in the kitchen, studying different ice cream recipes, reading books and guides to create the rich-flavored and textured ice cream that Scratch would go on to produce. “It took quite a while to find the recipe, but once I did, my aunt and uncle tried it, they loved it and gave me the capital to get started,” Povlick said. Povlick always knew he wanted to be an entrepreneur, but his aunt and uncle believing in him made all the difference, he said. “I think I was just born for it,” Povlick said. “I mean also, I was a junkie, a felon, I never graduated college and so I didn’t have many options. So, when I had the opportunity to start something, I just took advantage of it.” Years later, Povlick and Garley, who met each other at a sober living home, agree that Scratch has become more than just an ice cream shop. “We use it as a platform to show people, and maybe to people who are still struggling, that ‘Hey, we can get better,’” Povlick said. n biztimes.com / 7
Leading Edge
INN Froedtert & MCW brain experts partner with UWM on new app By Brandon Anderegg, staff writer
Dr. Joseph Bovi
NIMBLE Milwaukee
INNOVATION: Mobile app that streamlines communication among specialist doctors DEVELOPERS: UWM’s App Brewery, Dr. Joseph Bovi and Dr. Christopher Schultz LAUNCH DATE: March 2020 froedter t.com uwm.edu/appbrewer y 8 / BizTimes Milwaukee MARCH 30, 2020
VAT I A TEAM OF WISCONSIN brain experts and University of Wisconsin-Milwaukee app developers have created a new tool that is designed to improve care and reduce hospital stays for brain cancer patients. NIMBLE – Network for the Integrated Management of Brain Metastasis: Linking Experts – is a mobile app that streamlines communication between specialist doctors treating patients whose cancer has metastasized to the brain. A total of 20% to 40% of all cancer patients will be diagnosed with brain metastasis, which is cancer that spreads from another part of the body to the brain, said Dr. Joseph Bovi, radiation oncologist with Froedtert & the Medical College of Wisconsin Clinical Cancer Network. A tumor board, consisting of oncologists and other specialists, meets weekly to discuss an effective plan of care for their patients at Froedtert & MCW. However, oftentimes specialists have to assemble patient care plans outside of that tumor board meeting, especially in patients who are acutely ill, Bovi said. NIMBLE provides oncologists and specialists with a medium to have a high-level conversation about a patient’s condition through a secure and encrypted message board. With NIMBLE, specialists can compare their observations, share MRI scans and other notes with members from each discipline to develop an appropriate plan of action for a patient with brain metastases, Bovi said. “Any time that we can get a plan of action in place for a patient faster, the end result is they get the critical care they need sooner
NS
NIMBLE is available via mobile app.
than they would have otherwise,” Bovi said. “With brain metastases, that time may be critical.” NIMBLE was created by Bovi, Dr. Christopher Schultz, MCW professor and chairman of the Department of Radiation Oncology, as well as students with App Brewery, UWM’s mobile innovation lab program. Beyond the message board, NIMBLE has an educational component that provides specialists with best practices for brain metastasis management. A complex algorithm, based on metastasis characteristics, leads specialists down a path towards a treatment plan, which is backed by evidence-based articles. “So, you click on that, and this drives you out to the actual data and manuscript that supports that decision for that patient to help our clinicians know, ‘Here’s the data to support the decision that you made,’” Bovi said. However, Bovi and his team recognize that each case of brain metastases is different, and the message board allows specialists to discuss those nuances, Bovi said. “It’s a phenomenal tool because brain metastasis management is incredibly complex,” Bovi said. “And we just put a tool in their hand with that medical decision-making.” During the pilot of the app, Bovi and his team discovered a 40% reduction in hospital stay for patients with brain metastases. However, he believes NIMBLE will lead to benefits in other disciplines as well as cost savings and efficiencies in other areas of the hospital.
“Anything we can do to make beds available for those who need them is critical right now,” Bovi said. “And if we’re able to manage these patients, of which we see about 150 a year, you have that number of patients multiplied by those numbers of days – think about the bed time that is saved on the back side by allowing us to communicate in this more efficient way.” The app is scheduled to go live March 31. NIMBLE is one example of more than 20 apps that App Brewery has designed for the Froedtert & MCW health network. App Brewery lead project manager Dustin Hahn and his students meet with doctors to discuss app features, and in the case of NIMBLE, challenges, such as patient record protection. “I needed to make Dustin an expert in this whole process in order for him and his team to visualize and create ultimately what we have now with the NIMBLE app,” Bovi said. “That partnership and the level of communication and understanding that it takes is just critical.” n
Nick Reistad raced for the Jelly Belly Professional Cycling Team from 2006 to 2009.
After pro career, Raised Grain Brewing coowner now cycles for fun By Maredithe Meyer, staff writer
A
s co-owner of Waukesha-based Raised Grain Brewing Co., Nick Reistad has spent the majority of his time over the past few years working to build the business from a small brewery and tasting room into a 20,000-square-foot production facility and 36line taproom that distributes its canned craft beers throughout southern Wisconsin.
the
Good LIFE
Reistad attributes “everything good” in his life, including the opportunity to start the business with his three partners, to his former career and current passion: cycling. “The traits that made me successful as a cyclist are the ones that help me out as a business owner and entrepreneur,” he said. Taking interest in the sport from a young age, Reistad began racing competitively in Wisconsin at age 16. Fast forward a few years to 2005, Reistad joined the USA Cycling National Team after competing during college for the University of Wisconsin’s club team. He spent two summers with the
Two worlds.
national team in Belgium, racing against the best of the best in the highly competitive European circuit. Reistad’s pro career later landed him four years on the Jelly Belly Professional Cycling Team, which traveled across the U.S. and to China. Milwaukee was a frequent race destination. These days, as a business owner and father of three, Reistad doesn’t hit the open road as much as he used to. He said he’s more of a fair-weather rider. But he’s enjoyed introducing the sport to his kids. His 7-year-old daughter participated in her first cycling race last year during Tour of America’s Dairyland. Through cycling, Reistad met his wife, best friends and one of his co-founders at Raised Grain, who saw that Reistad had the competitive spirit to start and grow a business. “All sorts of good things have come from dedicating my younger years to a sport, and it’s just paid itself back,” he said. He also developed a competitive spirit that still proves useful today. n
Understanding
both is the key. From the boardroom to the courtroom, Davis| Kuelthau is your trusted partner. Whether a multi-national Fortune 500 company or a fellow Midwestern-rooted entity, our corporate, labor and litigation attorneys are well-positioned to serve as your personal outside general counsel. Real estate and construction industry know-how. Business acumen. Personalized legal service. We are Davis |Kuelthau.
BROOKFIELD | GREEN BAY | MILWAUKEE
www.dkattorneys.com
© 2020 Davis|Kuelthau, s.c.
biztimes.com / 9
Leading Edge
Who’s on the Board?
BIZ POLL
Taken from March 10-20 A recent survey of BizTimes.com readers.
Is your company taking any significant actions due to the coronavirus?
John Daniels
Yes:
66%
No:
34%
ADVOCATE AURORA HEALTH • David Anderson, founder and CEO, Great Lakes Regional Center • Michele Baker Richardson (board chair-elect), president and CEO, Higher Education Advocates • Joanne Bauer, retired president, Kimberly-Clark Health Care • Thomas Bolger, retired president and CEO, Johnson Financial Group • Lynn Crump-Caine, founder and CEO, Outsidein Consulting • John Daniels, Jr. (board chairman), chairman emeritus, Quarles & Brady • Joanne Disch, professor ad honorem, University of Minnesota School of Nursing
• Mark Harris, senior counsel, The Boeing Company • Charles Harvey, retired chief diversity officer and vice president of community affairs, Johnson Controls • Richard Jakle, retired president and CEO, WRMN, WBIG, KSHP, The Radio Shopping Show, Colorado Broadcasting Co. • Jim Skogsbergh, president and CEO, Advocate Aurora Health • John Timmer, retired senior VP and chief credit officer, First National Bank of Brookfield • Richard Weiss, retired partner, Foley & Lardner
Share your opinion! Visit biztimes.com/bizpoll to cast your vote in the next Biz Poll.
I
Unlock your leadership potential. Take your career to the next level. For more than six decades, high performing executives have turned to Vistage peer advisory groups to help them be more successful. The Vistage Key Executive Program connects you to an elite peer group with one goal: empowering one another to reach new levels of extraordinary. Confidentially address personal and professional challenges with the guidance of an accomplished business leader. Leverage new insights and powerful resources to hone your leadership skills and push your career forward. Master the essential elements of successful executives. Learn more at vistage.com/key. ©2019 Vistage Worldwide, Inc. 19_261_5063
10 / BizTimes Milwaukee MARCH 30, 2020
BizNews
the
Interview
IN THE MIDST of a global pandemic, health care innovation is in high demand,
especially within the telehealth market. That’s not news to Marc Cayle, who founded Milwaukee-based startup OnKol back in 2014. The company developed a smart device that connects third-party home and health monitoring sensors to an elderly person’s family, medical professionals and data platforms. Anticipating a spike in demand for remote patient monitoring technology, Cayle last year launched BeHomeSafe, which will use a franchise model to deliver home health monitoring products directly to consumers across the country. BizTimes reporter Maredithe Meyer recently caught up with Cayle to talk about how he is gearing up for the growing demand for his companies’ services. Where does telehealth fit in to health care today? “We already have an enormous shortage of caregivers for the seniors that currently exist and, with 10,000 people turning 65 everyday, that is going to be the biggest challenge that the senior care industry has in front of it. And now with the COVID-19 outbreak, there are going to be seniors living at home that do not want caregivers to come into the home because they might bring the virus. … It’s a perfect opportunity to place technology in the home to allow that monitoring to happen. Even senior communities are closing down all together (due to the coronavirus). There’s no way that you can even go visit a loved one, so how do you know how they’re doing unless there’s some sort of technology that’s notifying you?”
How will the coronavirus outbreak impact access to capital for BeHomeSafe and other health care technology startups? “We are certainly in a position right now where we need additional capital to fund building more units. It has been a struggle in Milwaukee and in the Midwest in general to raise that capital. You see these companies on the coasts getting hundreds of millions of dollars for concepts that have failed because they don’t understand what they need to do in this market, because they weren’t in the market before this. “We are known, unfortunately, as a flyover state and it’s very frustrating. It’s going to take something like this for these companies – venture capital firms and private equity firms – to take notice that we’re here and we can provide solutions and we need the capital to do it. … All it’s going to take is one big win from the Wisconsin (startup) ecosystem to draw attention to what we’re doing here.”
ANDREW FELLER PHOTOGRAPHY
Are you concerned that current uncertainty in the global economy could slow the process of building that capital?
Marc Cayle Founder and CEO, BeHomeSafe Founder and COO, OnKol 1433 N. Water St., Milwaukee Employees: Three, soon to be four behomesafe.net, onkol.net
“I think (the coronavirus outbreak) will wind up being the best thing that ever happened to companies that can be involved in assisting people with being healthy from a distance because no one’s ever going to forget this. We are always going to be able to look back and say ‘remember that pandemic of 2020 and the tectonic shift that took place in the care for seniors and frail adults when we couldn’t be close to them?’ From my perspective, it’s a shame that it took this to happen, but I know that it will create what would be an instant awareness for the need for technology like this.”
What went into the decision to relocate and expand BeHomeSafe’s offices (to Spaces co-working hub in Milwaukee’s Historic Third Ward)? “I need more flexibility because we’re going to be expanding relatively quickly and the shared office space concept allows us that flexibility. Right now, there are three of us and we are adding a fourth, which really was the impetus here … and we anticipate adding people as quickly as we need to as sales/installation people.” n biztimes.com / 11
BizNews SEEN & HEARD
Nearly 200 area business leaders attended the event at the downtown Milwaukee Marriott.
Seen and Heard at the 2020 BizTimes M&A Forum
Stillmank
Chadha
Photos by Arthur Thomas
PAUL STILLMANK, founder and CEO of 7Summits “Take your time off. Recharges are critically important to growing a growth business. I have solved some of the hairiest problems in my company and challenges in the backcountry of Yellowstone National Park. ... Take time off and make sure you’re recharged because when you’re building a business at a growth pace, you’re going to need your batteries fully charged.”
ANDREA BUKACEK, CEO of Bukacek Construction “I had a combination of equity, senior debt and (mezzanine debt). I probably could have said, ‘You know what, I’ve got the bank money, that’s fine.’ But I am glad that I took that extra step to go raise those mezz funds. Not only did it give me a vote of confidence that these folks were behind the company, behind me, but also it was nice to walk in day one and know you have some dry powder there.” Bukacek 12 / BizTimes Milwaukee MARCH 30, 2020
Martin
RYAN MARTIN, CEO of Midwest Composite Technologies “When I came, every decision was bubbling up to me because that was the way the business had always been run. So we’ve really spent a lot of time creating a senior leadership team, keeping the key members from the acquisitions and we were able to do that by having a shared vision around growth and what we were going to do and how we were going to divide and conquer.”
Breakout sessions held following the keynote and panel discussion.
SHARAD CHADHA, CEO of Sprecher Brewing Co. “Not being an insider, I think you’ve got to put a team together that is expert in the industry. … You’re kind of like the conductor of this jazz (band) and everybody is playing a different instrument; they know how to play that best, but you’re trying to put this together.” “We get emotionally attached to a deal, especially if it takes longer, and the more you get emotional, you sometimes make wrong decisions. There were two times during the process that I had to get out of that and think that, ‘OK, I’m ready to walk away.’ It’s very hard, but you’ve got to do that.”
A MAN OF VISION, PASSION AND TIMELESS VALUES Paul E. Purcell | 1946–2020
Grunau
PAUL GRUNAU, chief learning officer of APi Group “When I sold in 2006, I took about 25% of the proceeds of the sale and put it in a trust fund for 24 of our employees. When I told the folks that were helping me, they were like, ‘Why are you doing that? You’ve put all the capital at risk, you took all this risk.’ Those folks were my partners and we’d done all this stuff together. ... This idea of trust, it’s pretty simple. I think if you have a long view, it’s easier to get your head around the importance of trust. Where I see trust violated is when people have a short view and oftentimes when they make decisions based on money, that’s where you see trust really erode.”
For more than 25 years, Paul Purcell’s visionary, transformational leadership took Baird to new heights of growth and success for our clients. His long-term focus went beyond Baird’s business, as evidenced by his passion for education and ensuring opportunities for young people. And the deeply personal, positive impact he made on our associates and in the communities we serve will resonate for many generations to come. Join us in celebrating Paul’s life, leadership and legacy. rwbaird.com/PaulPurcell ©2020 Robert W. Baird & Co. Incorporated. Member SIPC. MC-45207.
biztimes.com / 13
Real Estate
REAL ESTATE WEEKLY – The week’s most significant real estate news → biztimes.com/subscribe
SOUTH MILWAUKEE MAYOR ERIK BROOKS
Downtown South Milwaukee.
Bucyrus Club aims to revitalize downtown South Milwaukee, honor city’s past
THOSE PARTNERING in the redevelopment of a South Milwaukee commercial building and public gathering space expect the project will have a broad impact on its downtown, while also honoring the city’s manufacturing history. In February, city officials revealed details of the planned renovation of the commercial building at 1919 12th Ave. and the development of a public space a couple blocks away, where 11th and Madison avenues meet. The public-private effort is made possible through a $2 million donation from the Bucyrus Foundation. The city owns both the commercial building and public space. Also involved are Skyline Catering Inc. and the South Milwaukee Industrial Museum LLC, both of which will occupy portions of the commercial building. Skyline Catering will run an event space on the first floor, while the museum would be based primarily on the second floor. “We’re hoping that this becomes the catalyst for some type of downtown redevelopment,” said Bob Jelinek, director and chairman of the South Milwaukee
UGLY BUILDING: F O R M E R M O T E L 6 , TOWN OF BROOKFIELD It’s certainly an ugly building, but it might not be standing much longer. At Goerke’s Corners, where I-94, Bluemound Road and East Moreland Boulevard converge in the Town of Brookfield, are new developments such as The Corners of Brookfield shopping center and the Poplar Creek apartments. Then there’s the former Motel 6 at the northeast corner of West Bluemound and North Barker roads. It closed in 2018, shortly after the building was sold to the former owners of Elite Sports Clubs, which has a facility next door. The former motel was sold again recently, to Hales Corners-based Wimmer Communities, which developed the nearby Poplar Creek apartments. Wimmer officials have declined to comment, stating they “do not publicly discuss projects under consideration.”
14 / BizTimes Milwaukee MARCH 30, 2020
a small portion of the other items. In all, the museum has about 8,500 items catalogued. Of course, the city has big plans for the nearby public space as well. It will pay homage to the city’s manufacturing heritage in some way, though details are still being worked out. City leaders are seeking public comment in shaping details for the space, but preliminary thoughts include permanent facilities to support special events and daily users, as well as historical features evoking the manufacturing history of the city. Earlier this year, the city hired Madison-based landscape architect Saiki Design to help design the space. Brooks said Saiki was selected from 16 respondents to a request for proposals. The redevelopment plan is just the latest effort by the city to reimagine its downtown, which officials hope will draw in new businesses and visitors. Brooks noted a streetscaping project is underway to give downtown a new look, and city leaders created a tax incremental financing district to facilitate a number of projects. In fact, the city has had its eye on redeveloping the Bucyrus Club building back to at least the time Brooks became mayor in 2014, he said. “I’m happy with where things are going,” Brooks said. “Progress never happens fast enough for me, but we are making progress, and slow and steady progress is still progress. … We think this project in and of itself will help that as well.” n
JON ELLIOTT OF MKE DRONES, LLC
Industrial Museum. The building will undergo $3 million in renovations and be renamed the Bucyrus Club. Ernie Wunsch, owner of Skyline Catering, said the event venue could hold up to 500 people, or could hold two events at once in separate rooms. The space is being white boxed for Skyline Catering, which will invest some of its own money for improvement work and also pay rent to the city. There will be a main banquet room that could hold between 250 and 300 people. That room features cream city brick building materials, arched windows and high ceilings. “If you want to have that really special wedding or function, you’re going to want to take that room,” Wunsch said. Another room, formerly used as a small bowling alley, will hold around 150. A former restaurant space in between could hold about another 150. Wunsch said the restaurant/bar area can be rented out for small lunch or dinner gatherings, and will also be open for Friday night fish fries. Jelinek said though the museum will be on the second floor, it will have displays throughout the building. He also has plans to set up displays elsewhere in the community, including at the nearby public space at 11th and Madison. The project was a convergence of each party’s needs, South Milwaukee Mayor Erik Brooks said. The city wanted something done with the building, Skyline Catering had longed to set up an event venue space and the museum was in need of a home since it was removed from its former home on the Bucyrus campus. “I’ve been involved with finding a home for this South Milwaukee museum since December 2016 when Caterpillar closed the original museum,” Jelinek said. Caterpillar acquired Bucyrus in 2011 and over time has dramatically reduced operations at the South Milwaukee campus. Jelinek said he still has 95% of what was on display in the original museum, and has replaced all but
BIRD’S EYE VIEW: SCHOOL SISTERS OF NOTRE DAME ELM GROVE CAMPUS The School Sisters of Notre Dame’s 30-acre campus is located south of the intersection of Juneau Boulevard and Watertown Plank Road in Elm Grove. The School Sisters are planning to move from their current residence to a $40 million housing development at Mount Mary University. The Elm Grove campus will be purchased by Milwaukee-based developer Mandel Group Inc. and converted into apartments. Mandel announced in February it had signed a purchase agreement with the School Sisters for the campus. The project will contain an unspecified number of market-rate units, and will combine historic rehabilitation with new construction. The developer said it was attracted to the site due to its walkability, charm, quick access to downtown Milwaukee and proximity to downtown Elm Grove. “We are excited to redevelop the Sisters’ campus while respecting and honoring the Sisters’ heritage and contributions to the community,” said Phillip Aiello, Mandel senior vice president of development.
We’re in business to build yours. That’s our forte.
Whether you’re just starting out, or you’ve been in business for generations, your business matters to us. Learn more at www.fortebankwi.com/business or call 262-673-5800. Now seeing loan clients in our Milwaukee location.
ALEX ZANK Reporter
P / 414-336-7116 E / alex.zank@biztimes.com T / @AlexZank
3 Competitive rates 3 Flexible terms 3 Fast local decisions FINANCING 4 DEPOSIT ACCOUNTS 4 CASH MANAGEMENT biztimes.com / 15
COV
ON Y: COR R O T S ER
S AVIRU
T H E
CORONAVIRUS
Public health crisis sends shockwaves through economy
BY ANDREW WEILAND, staff writer
16 / BizTimes Milwaukee MARCH 30, 2020
Wisconsin Department of Health Services officials said there was only one confirmed case of the COVID-19 coronavirus in the state. Ten days later, on March 19, that number had climbed to 155 confirmed cases in the state, and Gov. Tony Evers announced that the first Wisconsinites had died from the virus. The number of positive cases in the state reached 416 on March 23, including five deaths. After seeing the devasting effects that the highly contagious virus has had on China, Italy and other countries, its impact is now being felt dramatically in the United States. For many Americans, life seemed to change overnight in mid-March, first with the cancellation of major large-crowd events and then with federal, state and local officials first encouraging and then mandating social distancing measures in an attempt to “flatten the curve,” to slow the spread of the virus and reduce the anticipated heavy burden it would place on the nation’s health care system. The social distancing measures are so dramatic they have effectively shut down much of the nation’s economy. On March 17, Gov. Tony Evers banned gatherings of 10 or more people. The order made exceptions for transportation, educational institutions, child care, hotels, military, law enforcement, food pantries, hospitals, long-term care facilities, grocery stores and convenience stores, utility facilities, job centers and courts. One week later, Evers issued a “safer-at-home” order, allowing only “essential care or services” workers to continue to travel to and from work. The social distancing requirements locally and across the nation have had a devasting economic impact. The stock market plunged into bear territory with losses on the Dow Jones Industrial Average so severe that all of the gains it had made during Donald Trump’s presidency were wiped out. Restaurants and bars can only offer take-out
SHUTTERSTOCK - SUSAN MONTGOMERY
on march 9,
or delivery. Several local restaurants have tried to adapt, while bars suffered greatly from the loss of St. Patrick’s Day business. After a few days, one of Milwaukee’s most iconic restaurant brands, The Bartolotta Restaurants, decided to cease its curbside takeout service and halted its operations “until further notice,” co-founder Paul Bartolotta said. The Bartolotta Restaurants employs more than 950 people and has 10 restaurants in the Milwaukee area. “We pledged to transition our restaurants to curbside service in order to provide food for our guests and in doing so allowing us to provide family meals for our employees,” Bartolotta said. “We have quickly realized it would not be enough to ‘flatten the community spread curve.’ That is why I have made the painful and difficult decision to cease operations, including curbside service, at all Bartolotta Restaurants … until further notice.” The coronavirus has had a profound effect on retailers. Grocery stores have seen a surge of business as shoppers sought to stock up on food and other essentials, including toilet paper. During the rush, the state received dozens of price-gouging Ristorante Bartolotta
complaints, including several against Eau Clairebased Menard Inc. But other retailers have struggled as in-store traffic waned with shoppers staying home to follow social distancing requests. Several stores closed, hopefully only temporarily. Menomonee Falls-based Kohl’s closed all of its 1,100 stores until April. The company also recently said it has fully drawn its $1 billion unsecured credit facility to increase its cash position and preserve financial flexibility during the coronavirus outbreak. The coronavirus also affected some manufacturing operations. Milwaukee-based Douglas Dynamics closed its U.S. operations from March 18-29. Milwaukee-based Harley-Davidson temporarily suspended production at its three U.S. manufacturing facilities after an employee at its Menomonee Falls plant tested positive for COVID-19. Many employers have kept their businesses going with employees working from home, using internet connections, their phones and video conferencing to stay productive. In mid-March, Milwaukee-based Eppstein Uhen Architects said it asked employees to work from home for the next two weeks “out of an abundance of caution.” “We are encouraged that significant action is being taken by many organizations to reduce the possible impact of this virus, and we want to do all we can to help reduce this impact as well,” said Rich Tennessen, president of EUA. Social distancing requirements have completely shut down the sports and entertainment industry. Marcus Theatres shut down its movie theaters temporarily. The Milwaukee County Zoo and the city’s museums closed. The start of the Milwaukee Brewers season has been delayed. The Milwaukee Bucks, leading the NBA in wins and hoping to win their first championship since 1971, had their season suspended indefinitely. Planning for the Democratic National Convention, to be held in July in Milwaukee, continues with hopes that it will still be held as planned. The event is expected to have a $200 million economic impact on the Milwaukee region and was considered a game-changing opportunity for the city’s image. But now, it is very much in doubt. n biztimes.com / 17
COV
ON Y: COR R O T S ER
S AVIRU
Coronavirus fight sends economy into turmoil BY ANDREW WEILAND, staff writer
THE COVID-19
pandemic is a global health care crisis, and perhaps the most important tactic to fight it is the social distancing strategy, which seeks to “flatten the curve” and slow the spread of the virus in hopes of preventing it from overwhelming the health care system. But social distancing requirements are creating a gigantic strain on the economy as many businesses have, at least temporarily, been forced to shut down or dramatically scale back their operations. While the coronavirus fight is first and foremost a serious public health issue, the economic damage is also significant and may be just beginning. To gauge the economic outlook moving forward, BizTimes Milwaukee reached out to a pair of economists who have participated in our annual Economic Trends and Mid-Year Economic reports. Michael Knetter, the president and chief executive officer of the University of Wisconsin Foundation, is also an economist who served as an advisor for presidents George H.W. Bush and Bill Clinton. Avik Chakrabarti is an associate professor of economics at the University of Wisconsin-Milwaukee. While they are not public health experts, Knetter and Chakrabarti answered a series of questions about where they see the U.S. economy going as it confronts the coronavirus. The following are portions of their responses.
BIZTIMES: Is the U.S. economy in a recession now? If not, are we headed into one soon? KNETTER: “I believe we will look back and say the economy tipped into recession in April. We won’t know this for sure for a few more months, and I hope I am wrong.” CHAKRABARTI: “The economy has, indeed, begun to show signs of a recession as businesses struggle to cope with the pandemic. Current conditions are highly likely to hinder economic activity through subsequent quarters, sending the economy back into a recession after more than a decade.” BIZTIMES: Will the U.S. economy be able to recover quickly after the virus runs its course, or will there be long-term ramifications? KNETTER: “The recovery path will depend on the path and pace of the virus itself. China, South Korea, Taiwan and Japan are either more authoritarian and/or more cohesive societies than we are in the U.S., which has helped their ability to contain spread once detected. I have so far been impressed by the rapidity of the cancellations of major sporting events and closings of educational institutions and some businesses. Nonetheless, social distancing is not natural for Americans and I worry containment efforts will be much more difficult. This is a classic free rider problem and I am not sure we will easily resolve it. That leads me to expect more of a U- than a sharp V-shaped recovery. It feels
like an elongated 9/11 at this point. Again, I hope I am wrong about this.” CHAKRABARTI: “The scale and scope of any damage to the economy will depend on the spread and duration of the pandemic. If the spread of the coronavirus in the U.S. is restricted before the second quarter ends, the recession will be short-lived. The economy will bounce back with consumers and investors regaining confidence and businesses restoring their supply chains. Otherwise, if the current economic disruption extends beyond the second quarter, a prolonged recession may be unavoidable. It would be remiss not to recognize that the prompt private-public partnerships forged under the leadership of President Trump, in the face of the unprecedented pandemic, is likely to resist a steep economic downturn. The U.S. economy is likely to recover promptly after the current pandemic wears out.” BIZTIMES: The stock market has been extremely volatile with several huge drops. What do you think is the bottom? KNETTER: “The volatility will be with us for a while.” CHAKRABARTI: “Not surprisingly, due to the uncertainty surrounding the coronavirus outbreak and its economic impact, the stock market has become increasingly volatile along a downward trend. At this time, a reasonable guesstimate is that the S&P 500 would bottom around 2,000
Not In The Office? We’ve Got You Covered! Free Digital Edition - biztimes.com/digitalissue We realize that much of our business community has transitioned to working from home. Business leaders rely on BizTimes Milwaukee for news, information, operational insights and best practices in leadership, communication, crisis management and much more. We have a responsibility to keep you informed so that we can all embrace the future and thrive. To receive the Free digital edition of BizTimes Milwaukee, go to biztimes.com/digital. Whether you are in the office, at home or on-the-go, we’ve got you covered. We are committed to continuing to serve you. 18 / BizTimes Milwaukee MARCH 30, 2020
Locally owned for 25 years
near the end of the pandemic.” BIZTIMES: What strategy should policy-makers be using to help reduce the economic damage caused by the pandemic? KNETTER: “Showing mature bipartisan leadership is important now more than ever. Coronavirus doesn’t care who you are voting for and it is serious enough that Americans will want leaders working with the best facts and expert opinions available in choosing a shared course of action. We need public health measures with strong bipartisan support. Short-term measures that help businesses (and therefore employment) and consumers ride this storm out will also help blunt the worst impacts.” CHAKRABARTI: “It is high time for policymakers to recognize that any backlash against spending during the current pandemic will be misguided. They need to rise above their political leanings and disagreements over the size of the budget deficit. A bipartisan support for the co-creation of private-public partnerships forged under the leadership of President Trump is overdue. Lessons from the last recession can be useful as well. For instance, a timely rolling out of a program similar to the Troubled Asset Relief Program (TARP) may prove to be effective in clearing out any damage to bank balance sheets and providing mechanisms for funding small businesses.” BIZTIMES: Any other thoughts?
KN
R ETTE
KNETTER: “More broadly, I think this event will underscore the importance of education and science to society and the importance of international cooperation. “You asked about the economic impacts, but this is of course a humanitarian global crisis. Our thoughts should be with those who fall seriously ill and the health care providers who are on the front lines treating them. We need to have them in our thoughts and deeds.” CHAKRABARTI: “The spread of coronavirus in the U.S. has apparently induced hoarding of sever-
CHA
B KRA
AR
TI
al items, including bottled water, bread, milk, toilet paper, soap, hand sanitizers, and cleaning supplies. While a compassionate citizen is expected to refrain from indulging in such practice, retailers can better manage their inventories by imposing a ‘no return’ policy, in addition to a strict enforcement of rationing, on purchases made during the national emergency. Above all, those serving tirelessly (from the custodian to the physician) to prevent the pandemic from causing further damage will remain in everyone’s thoughts beyond the boundaries of economic reasoning.” n
Presents:
**NEW EVENT DATE: June 30, 2020 | 7:00-11:00 am
A Futurist Toolkit: Seven Practical Ideas on How We Get to 2035 Join us in June as Futurist David Zach shares his insights on the future of Washington County for the next fifteen years and beyond. Instead of just fascinating and/or frightening forecasts, you’ll get a “toolkit,” a set of questions to ask on how to put all those fads and trends in a practical perspective. Zach
Decker
Following the keynote presentation, local executives will discuss how technology, trends and innovation are changing the marketplace and what you can do to remain competitive and relevant for the next two decades. David J. Decker, President, Decker Properties, Inc. W. Kent Lorenz, Retired Chairman, CEO, Acieta LLC Debbie Seeger, Co-Founder & Senior Vice President, Patina Solutions
Lorenz
Seeger
Following the presentations, the program continues with unique roundtable discussions led by an expert discussion leaders. Attend any three.
REGISTER TODAY! biztimes.com/2035 Sponsors:
Location Sponsor: COMPANIES
W E A L T H
M A N A G E M E N T DESIGN l BUILD l DEVELOP l REAL ESTATE
Partners:
COV
ON Y: COR R O T S ER
S AVIRU
It’s tough to imagine, but what will life after coronavirus look like? BY ARTHUR THOMAS, staff writer
IN THE FIRST WEEKS after the coronavirus really hit the United States – as the number of cases, closings and cancellations piled up – it may have seemed hard to think of what a return to normal would look like. A pessimist might say there is no returning to normal, everything has changed and social distancing will be the new norm. An optimist, on the other hand, might expect things to snap back to where they were before everything changed. The reality is likely somewhere in between and the ultimate outcome will depend on how long the outbreak lasts. If it lasts a few weeks, returning to normal might not be difficult. Six months? A year? Longer? The way business gets done could be permanently changed. While businesses are confronting the challenges of today, leaders also need to give some thought to what life will look like after the coronavirus. David Zach, a futurist and author of the forthcoming book “The Fog of Progress: Finding Clarity and Connection in Uncertain Times,” said the easiest way for anyone to be a futurist is to consider the implications of decisions or choices multiplied by three. “We’re really good at going ‘if this, then that’ but where we fall down is ‘and then what?’” Zach said. Online education and remote work are two obvious areas the coronavirus could influence. Thou-
sands of students and employees were thrust into online learning and working environments and, while neither is a new phenomenon, it seems possible the coronavirus could make those practices standard practice. Zach, however, emphasized the importance of classroom learning and human interaction. “We are social creatures and we learn socially to a great extent,” he said. “Yes, you can learn an awful lot online, but it is the interaction and the physical shared space that is essential not only to learning, but to us as humans.” Todd McLees, founder of Hartland-based management consulting firm Pendio Group, said the sudden influx of online students creates an opportunity for distance learning companies to improve. “They’re going to learn a lot because the customer base is bigger right now, they’re getting a lot more data in terms of what went right, what went wrong,” he said. Tracy Johnson, president and chief executive officer of the Commercial Association of Realtors Wisconsin, said it is tough to know how the spike in remote work will influence demand for office space, noting the long-term nature of leases insulates the sector from sudden changes. “Who knows if this whole open office concept is going to be a thing of the past,” she said. “People need their private spaces – are they smaller spaces? Are people even going to want to come to the
office anymore? Are we even going to need the number of workers?” The way the virus has spread, starting in China before branching out around the world, has also put a spotlight on the problems of relying on one area for goods. Both Zach and McLees pointed to the potential for the virus to bring more manufacturing back to the U.S. “Don’t mess with nature, it will always win,” Zach said. “It provides lots of role models and examples in terms of diversification and not concentration. You have monoculture species; a single thing can wipe them out.” McLees said the push to bring production to the U.S., spurred by disruptions in the Chinese supply chain, could boost the idea of manufacturing-as-a-service, where a contract manufacturer sells its expertise in setting up operations to customers struggling to localize their supply chain. He said cheap capital and the ability to start up operations faster would allow a manufacturer to run the operation for a customer, turn the factory over once it’s built or transition it over a couple years. “That’s a definite possibility, but I’m not exactly sure how it happens yet or how soon it happens,” he said. McLees said the coronavirus could also spur faster adoption of 3D printing and automation. If the virus leaves companies working with a skeleton crew, it could essentially act like a sped-up
COVID-19 is affecting Americans and businesses in unprecedented ways. For those who can’t stop, or when America defeats COVID-19, Private AirShare is here to help you get back to business faster! • Aircraft Management • Fractional Ownership
• Pilot Services • Jet Cards
privateairshare.com | 262.337.2929 sales@privateairshare.com
MCLEE
ZACH
version of the demographic trends manufacturers have faced in recent years. He also said the potential slowdown in business created by the virus creates an opportunity to invest in employees. If companies aren’t running at full capacity, employees could spend 20% of their time learning a new skill or experimenting with new ideas. “It could actually create a culture of innovation so that when we come back together in 90 to 180 days, my company is way better at that than yours is because you were focused on productivity monitoring and costs,” McLees said. He also noted that remote work could create a challenge for companies that either have a wild west
S
JOHNS
with no connectivity or police state-like monitoring. “I’m not sure I want to be a part of that culture six months from now when everybody is hiring up,” McLees said. Of course, focusing on training and culture isn’t an option for all industries. The hospitality and retail sectors are focused more on survival. “The longer this goes on, the worse off the retail sector will be,” Johnson said. “People are worried about cash flow. The good, strong companies that would survive anything will survive this, but the ones who are kind of in this weird place, you might never see them open again.” She noted that there is also uncertainty about how willing people will be to go to public spaces,
ON
which could hurt a retail sector that has shifted toward entertainment options. In hospitality, Johnson recalled watching prices for event spaces climb year-after-year following the Great Recession. “It will be interesting to see what they do to get people back,” Johnson said, floating fewer seats per table as one possibility. McLees suggested the future of densely populated places could depend on how long the outbreak lasts. “It’s just a function, I think, of how long it lasts, how many people suffer loss. I think that will help establish these norms just like the Depression and the wars did those generations,” he said. n
A PODCAST ABOUT PEOPLE, ISSUES AND IDEAS. The BizTimes MKE Podcast is designed to keep you informed and provide ideas and strategies to help improve your business. Each episode features thought-provoking insights and best practices from business and community leaders.
LISTEN EVERY WEEK ON:
BIZTImeS MKE
CATCH UP ON RECENT EPISODES: MARCH 23, 2020
MARCH 16, 2020
MARCH 9, 2020
Christine Specht | Put work down and just think
John Austin | Why the Midwest is missing out on venture capital
David Lee | Leadership, development and arm wrestling advice
BIZTIMES.COM/PODCAST POWERED BY:
PODCAST PARTNERS: biztimes.com / 21
COV
ON Y: COR R O T S ER
S AVIRU
Coronavirus could put massive strain on Wisconsin’s health system BY LAUREN ANDERSON, staff writer
Aurora St. Luke’s Medical Center
AS PUBLIC OFFICIALS
take
drastic measures to slow the spread of COVID-19, Wisconsin’s health care providers are preparing for an influx of critically ill patients. Statewide efforts to “flatten the curve” are aimed at preventing a sudden spike in coronavirus cases that could overwhelm the state’s health care system, as has happened in countries like Italy. Still, health care and public officials have warned of a potential shortage of intensive-care unit beds, ventilators and other critical supplies in Wisconsin. Dr. John Raymond, president and chief executive officer of the Medical College of Wisconsin, presented a scenario in which 5% of Wisconsin’s 6 million residents contracted the virus, which he said is a conservative estimate. With about 20% of COVID-19 patients requiring hospitalization, the state could potentially have 60,000 patients in need of hospital beds, with only 12,300 beds currently available across the state. “If that happens, we’re going to overwhelm the capacity of our health systems to be able to accommodate that number of critically ill patients,” Raymond said during a webinar hosted by the Metropolitan Milwaukee Association of Commerce for business leaders. State public health officials have said they are still determining how many beds and ventilators are available statewide, but have also warned of a shortage. “We have a finite number of ICU beds and ven22 / BizTimes Milwaukee MARCH 30, 2020
tilators,” said Dr. Ryan Westergaard, chief medical officer of the Bureau of Communicable Diseases for the Wisconsin Department of Health Services. “In a pandemic situation the real risk is that the number of critically ill patients will grow too large too quickly and we may not have enough resources to save everyone who needs critical care.” Advocate Aurora Health, which has a network of hospitals and clinics stretching from Green Bay to downstate Illinois, continues to assess its ICU bed and ventilator supply, while watching the pace at which the virus spreads nationally and locally, said Dr. Nkem Iroegbu, chief medical officer of Aurora St. Luke’s Medical Center in Milwaukee. “I feel that we are ready for what we anticipate we will see, but again we will keep reassessing that on a daily basis,” he said. At press time, there were 416 confirmed coronavirus cases in the state, 204 of which were in Milwaukee County. Despite social distancing efforts, state public health officials said community spread – meaning the virus is being transmitted to people who do not have relevant travel history or exposure to another known patient with COVID-19 – is occurring in several counties, including Milwaukee, Dane, Kenosha, Brown and Waukesha. Area health systems have tightened visitor guidelines, with many banning visitors altogether, and canceled all non-time-sensitive surgeries, procedures and appointments to mitigate the spread of the virus. Children’s Wisconsin was the first health care
organization in the region to report a positive test in one of its providers. The system said it identified and contacted 48 patient families, plus staff members that could have been in contact with a doctor who has the virus. The doctor was exposed to an individual who later tested positive for the virus in connection with domestic travel outside Wisconsin before travel restrictions were in effect, according to Children’s Wisconsin. Among the tests that had been processed, all had returned negative for the virus at press time. Meanwhile, national shortages of testing supplies have stymied efforts to accurately measure how many people in the state have the virus. While the Wisconsin State Laboratory of Hygiene – the state’s public health lab in Madison – has ramped up its operations to test as many as 400 specimens a day, the volume of specimens received far exceeds its daily capacity. To conserve supplies, DHS has prioritized specific tiers of cases, including those who are critically ill, those who have knowingly been exposed to a confirmed COVID-19 patient and health care workers. Test requests that don’t meet those criteria are sent to other labs in the state and country, which will have longer wait times. Several commercial laboratories and hospitals, including Children’s Wisconsin and Wisconsin Diagnostic Laboratories at Froedtert Hospital, have increased the state’s capacity by completing on-site testing, rather than sending samples to one of the two public health labs in the state. At press time, ACL Laboratories, which is owned by Advocate Aurora, was in the process of finishing testing validation and training for COVID-19 to be able to perform at least 400 tests daily once operational. Some health care facilities are offering drive-thru testing sites in their parking lots, in an effort to increase testing capacity while mitigating concerns of exposure to the virus within clinics and hospitals. Froedtert South offers drive-thru testing at its Pleasant Prairie hospital. After planning to establish drive-thru testing operations at most of its locations, Advocate Aurora later paused those plans as a result of national test kit shortages. Waukesha-based ProHealth Care said it is considering opening drive-thru testing sites once supplies and lab capacity increases. n
COVID-19 threatens big year for Milwaukee sports, tourism BY MAREDITHE MEYER, staff writer
2020 WAS
supposed to be Milwaukee’s time to shine. Now, just three months in to what could have been a hugely pivotal year for local sports, tourism and events, the COVID-19 pandemic has brought the world to a screeching halt. Social distancing measures have been put in place, people in several states have been put on stay-in-place orders, schools and businesses have closed, and large gatherings and national-scale events have been canceled or postponed. All in an effort to curb the spread of the coronavirus. Milwaukee is bracing itself for a very different year than it anticipated. Organizers say the Democratic National Convention remains on track to take place in July in downtown Milwaukee, but it is hard not to wonder how the event might be different or if it will happen at all. Planning and preparation has been underway for more than a year for what would be the largest event in city history, potentially bringing 50,000 visitors and an estimated $200 million in economic impact. “While we continue to closely monitor this fluid situation, the Democratic National Convention Committee will remain focused on planning a safe and successful convention in Milwaukee four months from now,” Joe Solmonese, chief executive officer of the 2020 Democratic National Convention Committee said in a recent statement. “As we prepare these plans, we will remain in constant communication with the local, state and federal officials responsible for protecting public health and security, and will continue to follow their guidance as we move forward.” Possible alternative formats, including moving the convention to an online event, would require changing party rules, said Democratic National Committee chair Tom Perez in a March 9 interview with “Axios on HBO.” “We’re not contemplating rules changes,” Perez said, adding he’s confident the party can pull it off. As several professional golf tournaments, including The Masters and PGA Championship, have been postponed or canceled due to the coronavirus outbreak, the Ryder Cup, slated to be held
at Whistling Straits in Sheboygan County in late September, remains on schedule, for now. Other pro and college sports leagues had to make tough decisions earlier this month as the coronavirus spread and public fear escalated. In the heat of another historic year, the Milwaukee Bucks were on the road to the playoffs, leading the league with a 53-12 record when the NBA suspended its season after a Utah Jazz player tested positive for the coronavirus. A wave of sports delays followed the NBA’s March 11 announcement, including the start of Major League Baseball’s upcoming season. The Milwaukee Brewers’ Opening Day was scheduled for March 26. Initially, the NBA’s suspension was set for at least 30 days, but it looks like the hiatus could potentially last until mid-to-late June, according to a March 18 report by ESPN. With the Bucks’ six remaining regular season home games postponed, as well as several March and April concerts – including Blake Shelton, Elton John and GospelFest – Fiserv Forum sits empty for now. The arena’s event calendar is typically packed, operating under the mantra “no dark days.” The Bucks declined to comment on what an empty arena means for the team and franchise. For nearby bars and restaurants that thrive off the arena’s business, the impact is crippling. Milwaukee-based craft brewer Good City Brewing LLC closed its downtown taproom shortly after finding out about the NBA season suspension. All bar and restaurants across the state have since closed to the public under state order, limiting operations to carryout and delivery only. As a tenant of the Bucks-owned Entertainment Block adjacent to Fiserv Forum, Good City’s 11,000-square-foot facility relies on the arena for half its business. And depending on the day of the week, a home game can bring 500 to 1,000 people into the venue in one night, said co-founder and chief executive officer Dan Katt. “If you have a lakefront property and all of a sudden the lake is drained, that’s a problem; it’s not going to have the same value,” Katt said. “What is driving a lot of the value for restaurants and bars on the west side of downtown is the arena.”
Punch Bowl Social also closed its location near Fiserv Forum, temporarily, and laid off 91 employees. Meanwhile, Travel Wisconsin said the U.S. Travel Association recently released a report predicting tourism will be one of the hardest hit industries as a result of COVID-19, estimating a 31% decrease nationwide in tourism spending in 2020. Keeping the DNC, as well as Summerfest, on the calendar could be key to Milwaukee bouncing back faster than other cities, said Peggy Williams-Smith, chief executive officer of VISIT Milwaukee. Summerfest has been postponed until September. In the meantime, VISIT is pleading with organizers of other conventions booked in Milwaukee not to cancel, but to postpone. “We’re trying to stop the bleeding,” she said, later raising concerns about area hotels and service industry employees who now stand on shaky ground. She said the North American hotel industry enjoyed an upwards of 65% to 70% occupancy in the first two months of 2020. The latest STR hotel performance intelligence report has industry officials forecasting less than 10% occupancy through the end of May due to uncertainty. “If anything, this proves how important the tourism industry is. We support 52,000 hospitality jobs in Milwaukee County,” Williams-Smith said. “We provide the opportunity for the hospitality industry to provide life-sustaining wages to the people they employ and that’s why this is so devastating.” n biztimes.com / 23
COV
ON Y: COR R O T S ER
S AVIRU
Communication, flexibility key for businesses navigating the coronavirus BY BRANDON ANDEREGG, staff writer
WHILE IT’S UNLIKELY any business will emerge from the coronavirus pandemic entirely unscathed, there are several strategies that companies are deploying to mitigate loss now and in the future. Business owners are taking stock of how the coronavirus is changing the day-to-day operation of their company, and adjusting communications and workforce strategies in response. New Berlin-based machine parts manufacturer Pindel Global Precision has contacted customers to help them set priorities regarding parts they
foresee needing, chief executive officer Bill Berrien said on a webinar hosted by the Metropolitan Milwaukee Association of Commerce. Without knowing what the future holds, Pindel has taken an aggressive approach by addressing prospective orders. The company is also communicating with customers about shipping stock on hand that would otherwise be on blanket orders, Berrien said. “Communicating with and assessing our supply base and folding into normal redundancy and risk mitigation practices – not being single sourced where we shouldn’t be,” Berrien said. “All those
practices from more normal days are bearing some fruit here.” Milwaukee-based ManpowerGroup, a company with offices and employees located around the globe, has experienced the impact of the virus on multiple fronts. As the outbreak has unfolded internationally, the company has modified its communication strategies to keep up with the evolving narrative. “Going back to the Italy situation, when the government was changing the law at 3 a.m., we needed to be online and texting, so using SMS to tell our workers whether they could be at work,
Presents:
Advertise in these upcoming special reports and get your message in front of area business executives. Diversity & inclusion
Save the Date!
April 27, 2020 Space Reservation: April 8, 2020
Wednesday, July 22, 2020 Italian Community Center
Buildings & Construction and Office Space
May 25, 2020
Join other family & closely held companies as we navigate the complex issues of maintaining a successful, sustainable family or closely held business. It’s your opportunity to learn and network with others who are on the same journey as they strive to build wealth and create a lasting legacy.
biztimes.com/family
Space Reservation: May 6, 2020 Sponsors:
Contact Linda Crawford today! Phone: 414.336.7112 Email: advertise@biztimes.com 24 / BizTimes Milwaukee MARCH 30, 2020
Partner:
where and how they needed to work by the time they woke up the following morning,” said Ruth Harper, ManpowerGroup vice president of global strategic communications. Milwaukee-based Northwestern Mutual has also adapted its communication strategies, particularly related to the company’s transition to remote work. With kids out of school and parents working remotely, it’s important for employees to not get upset about loud children or a barking dog during a conference or video call, for example, said Don Robertson, Northwestern Mutual executive vice president and chief human resources officer. “We sent a note out saying, ‘That’s kind of the charm of it. We’re all a family and in this together so don’t be upset or worry,’” Robertson said. “That’s kind of the approach we’ve taken and it’s a good balance of the head and the heart.” While the disruption of the coronavirus presents serious challenges to businesses, Brad Herda, a Sussex-based certified FocalPoint business coach, said it could present an opportunity for those weathering it. Herda said companies that successfully adapt are those that implement flexible scheduling and remote workforce capabilities, which millennials and Gen Z employees are seeking. “In that manufacturing and construction space … I think it’s an absolute wonderful opportunity to change their business to support and attract younger talent,” Herda said.
Meanwhile, employers can extend flexibility to employees whose children are at home because of statewide school closures. Switching to a multiple shift model or having flexible scheduling is a way to alleviate concerns regarding child care and the costs associated with it. “If I can reduce child care expenses three days a week, I immediately give that family a raise without having to pay them an extra dollar out of my pocket from an expense perspective on the business,” Herda said.
Companies with more liquidity are also finding themselves better positioned for the pandemic. Herda cited the example of one of his clients, an older business owner who has three months of liquid operating cash. A month ago, Herda believed that much liquidity equated to missed opportunity. “From an age perspective, the amount of life experiences and his comfort level and risk tolerance, that’s what he wanted,” Herda said. “Low and behold, here comes this crisis and they’re going to be in a great spot.” n
MADE AND BUILT IN SOUTHEASTERN WISCONSIN A GUID E TO
A P R ODU CT O F
MADE AND BUILT IN NORTHEASTERN WISCONSIN 2020
COOL STUFF page 8
WHAT IS IT?
Participate in the 4th annual edition of STUFF Made & Built in SE Wisconsin to raise awareness and recruit employees – going directly to junior high, high school and college students as well as workforce centers throughout the region.
made with pride in northeastern Wisconsin
STUFF BLOWN UP page 14 Featuring Two Creeks Solar Park
COST OF LIVING page 16 Personal budgets and finding a salary that works for you
WHO MAKES IT?
Southeast Edition:
COULD I MAKE A CAREER OF THIS?
CHECK OUT JOB PROFILES - PGS 29-39 TO LEARN ABOUT CAREER OPPORTUNITIES!
FC-BC STUFF NE WI 2020 All Editorial Pages.indd 1
Recruit tomorrow’s workforce
Publishes: September 7, 2020 | Space Reservation: August 5, 2020
2/28/20 4:24 PM
To reserve a profile, biztimes.com/stuff Contact Linda Crawford today at advertise@biztimes.com or 414-336-7112 biztimes.com / 25
Special Report REAL ESTATE & DEVELOPMENT
Shortage of affordable homes continues to plague Milwaukee housing market
BY ALEX ZANK, staff writer
THE METROPOLITAN Milwaukee housing market, though it has shown consistent strength with robust sales month after month, has for some time faced a significant challenge: the lack of available homes priced at $300,000 and under. Area real estate agents said the shortage presents significant issues for buyers and even causes some to think twice about entering the market. They also noted that help is not on the way through new-home construction, which is not keeping up with demand and isn’t creating new homes at that crucial price point. The shortage is made clear through data analyzed by the
Greater Milwaukee Association of Realtors. Each year, the National Association of Realtors conducts a national survey on home buying and selling, and GMAR regularly commissions an oversample to get a Milwaukee-area perspective. Survey data was collected for the 12-month period ending in June 2019. The survey’s findings were compiled in a report that was released earlier this year. “All the numbers are colored by the fact that there’s really a lack of inventory,” said Mike Ruzicka, president of GMAR. Of course, the shortage of homes is reflected in median prices. The median home price in Mil-
Deep Experience. Insightful Counsel. With the largest real estate practice of any law firm in Wisconsin, our a orneys help clients successfully navigate today’s most important commercial real estate issues by delivering innovative, cost-effective solutions expertly matched to each client’s unique needs.
reinhartlaw.com 414.298.1000
26 / BizTimes Milwaukee MARCH 30, 2020
waukee was roughly $236,500, according to the survey. This actually shows a small dip from $240,000 for the previous 12-month period ending June 2018, but is still up significantly from the median price of $200,000 two years back. Three years ago, the median price was $161,500. The numbers also show that first-time buyers in the Milwaukee area make up nearly half (46%) of all home buyers in 2019. This compares to 33% nationally. Even so, the typical buyer in the Milwaukee area had a median income of $94,600, which is higher than the national median of $93,200. The average income of Milwaukee-area purchasers went up from $91,600 the previous year, $84,000 two years ago, and $85,000 three years ago. “(The researchers) commented that the average income of purchasers went up last year, and they were attributing it to the fact that younger people, or the people that don’t make as much money, can’t afford houses because prices have gone up,” Ruzicka said. “Those people aren’t even in the numbers anymore; it’s only people that can afford a $350,000, $400,000 or $500,000 house.” GMAR also reports home sales for metro Milwaukee each month. Its latest report, for February, showed that seasonally adjusted inventory of homes on the market (at all prices) was 2.8 months. This means there was enough inventory for sale to satisfy 2.8 months’ worth of demand from buyers. Anything less than six months indicates a seller’s market. Six months of inventories indicate a balanced market, and anything over six months indicates a buyer’s market. The metro Milwaukee housing market has been a seller’s market for some time. February was in line with January’s inventory level, and slightly down from the 2.9 months of inventory in February 2019. GMAR also calculates inventory by subtracting listings that have an active offer. That is done because about 80% of listings that buyers place an offer on become a
completed sale. Adjusting for active offers leaves the market with an effective inventory level of 1.3 months, down from the 1.4 months of inventory in January and the 1.6 months recorded in February 2019. Courtney Stefaniak, a real estate agent with The Stefaniak Group in Milwaukee, said the shortage of homes means those that are on the market are scooped up rather quickly. Buyers, therefore, need to be ready to make an offer at basically any time. “The challenge on the buyer side is that we have to be ready to go like 24/7,” she said. According to the annual survey data, recently sold homes in the Milwaukee area were on the market a median of two weeks, Ruzicka said. Nationally, homes were on the market a median of three weeks. “So really, for about three years now, (the median days on market) has been at a really low level,” he said. “What’s interesting is it introduces a whole slew of new problems in the market, because sometimes the realtor will have a property, they get people (who) knock on the door as soon as the sign goes up and say, ‘I’ll put an offer on it,’ and they do.” He said that fact could potentially affect sellers, who benefit when their home is on the market longer because they’ll get more offers that tend to keep climbing in price. Of course, buyers are impacted because they have to move so quickly. Stefaniak said any house within the range of $300,000 or under will likely have multiple offers within a day or two of being on the market. If buyers are to move quickly, they will need to have their documents in order and have taken care of pre-approvals even before touring the home. If they find one they like but don’t have those other steps taken care of, the house will be gone before they can even put in an offer, she said. “We’re still able to get them to a showing,” Stefaniak said. “But do
Performance-based, MERIT construction
895 companies passionate about free enterprise
For more than 65 years, ABC has been the leading voice promoting the merit shop philosophy in construction. ABC members are champions of free enterprise and open competition committed to delivering high-quality, safe construction projects awarded to the most qualified bidder based on merit, not mandates or political favoritism.
Learn more at abcwi.org
Determined
SUCCESS
ASSOCIATED BUILDERS AND CONTRACTORS OF WISCONSIN
| ABCWI.ORG | (608) 244-5883
Special Report
they have the weekend to sleep on it? No. … And that’s why I’m telling everybody to be prepared.” The primary buyers of homes in the $300,000 or under price range are first-time buyers — many of whom are in the millennial generation — followed by older individuals or couples who are looking to downsize, often as empty nesters. Stefaniak said that purchasing a home can be especially difficult for millennials when they are competing with older, well-financed buyers. But empty nesters face issues of their own. John Gscheidmeier, broker and owner of RE/MAX Service First in Waukesha, said those who own a home know they could likely sell it quickly. But problems could arise if they are looking to downsize from a $300,000 home to something like a $175,000$200,000 condo. Those people could end up selling their old home quickly while not being able to find a new one to move into in the meantime, said Gscheidmeier. “There are a lot of challenges with that price point,” he said. Relief is not likely to come from new construction either, Gscheidmeier said, noting that construction costs are continuing to go up. The reasons range from building costs to state and local regulations, which only add to the price tag. He said that in Waukesha County, for instance, it would be hard to build a home that could be sold for under
Homes for sale in Menomonee Falls.
$400,000. And according to a recent report from the Wisconsin Realtors Association, new-home construction and subdivision creation is trending in the wrong direction. WRA found that new construction declined in the state in 2019, despite strong demand for new housing resulting from population, job and income growth. Last year, roughly 17,600 residential building permits were issued for new homes (including single-family and multi-family dwellings) in Wisconsin, down from roughly 19,100 the year prior. What’s more, between 1994 and 2004, the state built over 6.7 new homes per 1,000 residents. But, from 2012 to 2019, only 2.9 new homes were built per 1,000
Let’s grow your business. Together. Business Accounts | Business Loans | Business Services
Learn more at www.tcnb.com 28 / BizTimes Milwaukee MARCH 30, 2020
|
414.325.1140
residents. The WRA report also noted that the price of housing is rising faster than inflation and income levels. Using price index data from the Federal Housing Finance Agency, WRA found home prices in Wisconsin were up 17.7% in the past three years. Meanwhile, median household income in the state grew 6.97% in that time period. But the lack of inventory isn’t necessarily leaving prospective buyers out in the cold. Stefaniak said that buyers, especially first-
time buyers who aren’t necessarily able to make a large down payment, want to take advantage of low interest rates. It’s just a matter of patience and persistence when searching for a home in that often-challenging below $300,000 price range. Stefaniak mentioned words of wisdom her father taught her: Real estate is like buses. “If you miss one, there’s always another one coming,” she said. “There is always going to be a new listing, new opportunity.” n
POOLE & POOLE ARCHITECTURE LLC
REAL ESTATE & DEVELOPMENT
Coronavirus effects felt in all aspects of real estate BY ALEX ZANK, staff writer THE SPREAD of the coronavirus across the globe has impacted essentially every aspect of the real estate industry, with southeastern Wisconsin being no exception. Market uncertainty from the outbreak caused the Wisconsin Center District to push back issuing bonds to pay for the expansion of the downtown Milwaukee convention center. The decision could delay the project’s groundbreaking next year by months. In Waukesha, a planned luxury apartment project in that city’s downtown was halted after an investor backed out. Atlanta-based Campbell Capital Group LLC notified city officials in early March that an investor had pulled money out of The Reserve at Waukesha, a development consisting of 186 residential units and 2,100 square feet of commercial space about a block west from the southwest corner of St. Paul Avenue and Barstow Street. Michael Campbell, founder and managing member of Campbell, said in a recent interview that the investor decided he was going to sit on the sidelines as the U.S. dealt with the coronavirus outbreak and accompanying economic uncertainty. Campbell is now seeking between $11 million and $14 million in equity to put the project back on track. “I love that deal and I’m still
working on it,” Campbell said. BizTimes reached out to a number of development departments in other Milwaukee-area communities. Officials with Milwaukee and Franklin said that, as of mid-March, they hadn’t heard of any developments suffering a similar fate. One other roadblock to planned developments, however, are city office closures and canceled meetings. Communities such as Kenosha, Racine and Oak Creek have recently sent out cancellation notices for plan commission meetings and public hearings. The Waukesha project was set to receive $4.75 million from the city through tax incremental financing. Jennifer Andrews, Waukesha community development director, said the financing assistance was just one public meeting short of being approved by city officials. She said the city remains behind the project, and the development agreement will be ready for signatures whenever Campbell finds a new investor. Tom Shepherd, partner at Colliers International|Wisconsin and lead of the firm’s Wisconsin investment services team, said he expects to see a greater impact from the coronavirus on the commercial real estate industry in the coming weeks and months. He said the real estate market has been on a sustained peak — in terms of activity,
pricing and liquidity — since 2016. People knew the time would come that the market would start trending downward, but that happening by way of global pandemic was not in anyone’s “wildest imaginations,” he said. “I’d be naïve to say there wasn’t going to be a little bit more of a fallout,” Shepherd said. “Real estate is not immune to uncertainty and volatility. We’ve had an unbelievable 11-year run, just like the stock market.” He predicted most deals in the marketplace that had pending offers would still move forward. For instance, earlier this month a New York investor new to market still went forward with the acquisition of a Class A office building in the area, even as markets were reacting to the pandemic. “Real estate is a transaction-based industry that just can’t stop,” Shepherd said. But buyers and sellers looking to do transactions later this year could put those plans on hold, he said. For example, if someone was going to launch an investment sale in early May, they may now hold off until July or August. “What the impact could be in real time to deal flow would be, I think, extended market periods for properties, perhaps extended due diligence periods where people are more patient with each other,” said
The Reserve at Waukesha has been put on hold after an investor pulled out of the project due to the coronavirus pandemic and resulting market uncertainty.
Shepherd. Experts in residential real estate predicted the coronavirus outbreak would have an immediate cooling effect. Those effects could be short-lived or could last a while depending on the progression of the outbreak. Mike Ruzicka, president of the Greater Milwaukee Association of Realtors, said the effects would likely be comparable to the Sept. 11, 2001 terrorist attacks. In the wake of those attacks the market was put “on hold” for about a month before normalizing. At press time, it did not appear that active construction projects were being shut down due to COVID-19. Mike Fabishak, chief executive officer of the Associated General Contractors of Greater Milwaukee, said he had not heard from any members about their projects being put on pause. However, contractors are being more thoughtful and paying extra attention to potential workplace exposure and other safety best practices, he said. “We have put a premium on safety for decades,” said Fabishak. “The pandemic is new to us, the capacity to mitigate issues around safety is not.” AGC of Greater Milwaukee’s membership largely consists of vertical contractors that use union labor. Milwaukee-based construction firm Greenfire Management Services LLC recently sent out an email notification that it was continuing to build at all of its jobsites. However, Greenfire has asked office personnel to work from home, started conducting electronic meetings and began restricting travel. It implemented a policy restricting anyone from a jobsite if they showed symptoms such as a fever or difficulty breathing, and has increased the frequency of environmental cleaning at all locations. n biztimes.com / 29
Special Report HIGHER EDUCATION & RESEARCH Lakeland University student Ryan Hoey was a food safety and quality leader at Pine River Pre-Pack, Inc., in Newton.
Lakeland University’s co-op program addresses student debt crisis, workforce shortages BY LAUREN ANDERSON, staff writer WHEN RANDALL MOYER chose to enroll at Lakeland University in 2017, he had resigned himself to taking on a hefty amount of student debt. But when Moyer met with his counselor at the private, liberal arts college in rural Sheboygan County, it was fortuitous timing for the self-described “penny-pinching” freshman. The university had just launched a new cooperative education program that placed stu-
dents in jobs with area companies to gain professional work experience, while also earning college credit and wages to defray their tuition cost. If he followed the university’s financial advising, he was told he could graduate with little to no debt. “I was kind of shocked at first,” Moyer said. “I was like, this seems like an opportunity that’s almost too good to be true. They essentially pay us to get credit and work. It’s real-world experience, and we’re
PIVOT YOUR SKILLS
going to school and we’re getting credits for it.” Now as a junior marketing major, Moyer is positioned to graduate with less than $10,000 in debt, having worked in the housekeeping department of the American Club in Kohler while also taking Lakeland classes. As enrollment in Lakeland’s co-op grows, leaders say the program has fundamentally changed the 170-year-old university’s delivery of higher education, and po-
sitions it to be competitive among the many other small, liberal arts schools in the Midwest. About 90% of incoming freshmen for the 2020-‘21 year have indicated their intention to enroll in the program. Meanwhile, more than 85 area employers, including large businesses, such as Johnsonville Sausage LLC, Bemis Manufacturing Co. and Acuity, along with nonprofit organizations and school districts, have partnered with the university. “We’ve become a co-op college,” said president David Black. “It’s who we are now.” The program is designed to address three major challenges: the national college affordability crisis, a widespread decline in higher education enrollment, and a worker shortage in Sheboygan County. “We were a small residential campus at a time when demography is declining, but we looked around us and saw all these worldclass, family-owned businesses that couldn’t find enough talent; they just didn’t have people,” Black said. “We were all sitting around, contemplating our existence and our future, and thought let’s put humpty dumpty together.” The program allows students to work at multiple job sites during
WITH ALVERNO COLLEGE
Bridge the skills gap — earn professional certification from Alverno College in less than 9 months Open to men and women Includes face-to-face and online learning Choose from Nonprofit Management or Managing Operations to Advance Organizations (more pathways in development)
Next session begins September 9 30 / BizTimes Milwaukee MARCH 30, 2020
alverno.edu/pivot
“We hope we can show in a few years that students graduate and start at a little higher rate of pay because they already have a year-and-a-half of work in.” — Scott Niederjohn, dean of the School of Business and — Entrepreneurship their college tenure, with the goal of building their workforce skills in different settings. Students work at different paces to meet the co-op requirements. Some work 40 hours per week for a semester, earning 15 college credits through experiential learning, while others work 10 hours per week to accumulate those credits over a longer period of time. Hospitality majors, for example, complete three, six-month placements – one in food and beverage, one in planning and one in housekeeping/hotel management. The partnership has been particularly beneficial for area hospitality businesses, including the American Club and Blue Harbor Resort in Sheboygan, which have struggled to find enough workers, especially in the summer months. The logistics of the program are a challenge, however, as the university has to continually adapt its class schedule to allow students to fulfill their work obligations, Black said. While students largely work in entry-level jobs, the goal is that students will be able to advance in their careers more quickly with that experience under their belts. “We hope we can show in a few years that students graduate and start at a little higher rate of pay because they already have a yearand-a-half of work in,” said Scott Niederjohn, dean of the School of Business and Entrepreneurship. Johnsonville, which is located about five miles from Lakeland’s campus, was one of the first companies to partner with the university on the co-op.
All co-op students begin on the production floor, said Kristen Young, Johnsonville’s workforce development coordinator. “When they’re freshman and sophomores they’re working in production,” Young said. “That’s a time for us to get to know the student and for them to get to know us. And, doing that for one to two years, they’re learning basic work ethic principles … And we always have openings in production so it’s important for us to have that pipeline.” From there, promising students have opportunities to advance, she said. “There are a few students who are go-getters and they’re doing a fabulous job. Those students we’re targeting to make sure we provide opportunities off the line in the third year, whether that’s job shadowing for a day or week, or working with the corporate office on (other opportunities),” she said. Lakeland also offers a pre-coop course that covers topics like resume writing and interviewing skills, along with courses on financial management to ensure the students actually achieve what the university has promised – graduating with little to no debt. For Moyer, working while he goes to college has allowed him to start contributing to his 401(k), and covering tuition costs with his wages has freed him to think about other future purchases. “It won’t be a burden,” Moyer said of college debt. “That will enable me to start my ‘life’ sooner, buy a house sooner, buy a nicer car sooner.” n
Tim Whitefish Bay, WI Marketing major
A LEADING
BUSINESS PROGRAM MADE UWM
MY FIRST CHOICE
biztimes.com / 31
Special Report HIGHER EDUCATION & RESEARCH
Northwestern Mutual Data Science Institute research focuses on big social issues BY LAUREN ANDERSON, staff writer WHILE THE TERM “data science” may elicit images of complicated algorithms and artificial intelligence for the layperson, the Northwestern Mutual Data Science Institute is determined to use its research to improve the community. A partnership of the Milwaukee-based life insurance company, the University of Wisconsin-Milwaukee and Marquette University, the institute launched last fall to prepare students to meet the growing need for data scientists across various industries. The initiative is backed by a $15 million investment from Northwestern Mutual, and $12 million commitments from both schools. In its first round of research
projects, the institute’s team of faculty and student researchers is focusing on three significant societal issues: inequity in a Milwaukee neighborhood, the opioid crisis and 2020 voter sentiment. “We always wanted to use data science to address social issues; we did not want it to be an esoteric field,” said Purush Papatla, co-director of NMDSI. The team has partnered with Walnut Way Conservation Corp., a nonprofit in Milwaukee’s Lindsay Heights neighborhood, to analyze nearly 20 years of data on the social, environmental and economic aspects of the neighborhood. It will use those findings to determine how to address barriers to
equitable housing and economic development. “The ultimate goal is to be able to understand what is suppressing home ownership and stability of the community and what can increase it? The bigger goal is to take the learnings from here and see if we can apply those learnings to address the same kinds of issues in other communities in our area and perhaps even nationally,” Papatla said. Another research project is aimed at understanding the opioid epidemic. Led by faculty members from UWM and Marquette, the research team is using public data from local sources and geospatial analysis to study opioid overdoses in Milwaukee. The goal is to find in-
COLLEGE POSSI BL E MILWAUKEE
P R O U D LY P R E S E N T S
INNOVATE WISCONSIN
PHONE: (414) 220-9450 WEB: CollegePossible.org/Milwaukee
MANUFACTURING & BEYOND
College Possible helps Milwaukee students from low-income backgrounds earn college degrees through an intensive curriculum of coaching and support.
This new issue will highlight how the state’s industries are changing and will offer readers ideas to propel their own companies to greater heights. Enhance your company’s brand Create awareness for your services
sights that may be applicable to other communities across the country. “We felt data science has the power to at least help us make inroads, if not solve (the crisis),” Papatla said. A third team of researchers is applying a technique known as “social circulation” to multiple data sources, ranging from traditional political polls and debate transcripts to political advertising and social media interaction, with the goal of understanding which issues are on voters’ minds this election season. “We felt data science could do more than what traditional polling (has done),” Papatla said. “Polling, of course, has been the mainstay to get into the electorate’s mind, but it also, in a way, is limiting in terms of how many times you can go back to people to keep talking to them, getting data back and analyzing it. Between polls, things could change.
2020 GIVING GUIDE FEATURED NONPROFIT
To learn more, visit biztimes.com/giving PRODUCED BY
Demonstrate your expertise and thought leadership Support your sales and business development team throughout the sales process
COMMUN IT Y A D V OCATE S
Position your company as an employer of choice
PHONE: (414) 449-4777 WEB: communityadvocates.org Community Advocates’ mission is to provide individuals and families with advocacy and services that meet their basic needs so they may live in dignity.
PUBLICATION DATE: June 15, 2020 RESERVATIONS DUE: May 20, 2020
To sponsor or advertise, contact Linda Crawford at 414-336-7112 or email advertise@biztimes.com 32 / BizTimes Milwaukee MARCH 30, 2020
2020 GIVING GUIDE FEATURED NONPROFIT
To learn more, visit biztimes.com/giving PRODUCED BY
Opinions could change. New issues could come up. What better way to tap into that than literally the real time data that’s coming from online and social media?” That real-time data has allowed NMDSI researchers to track, for example, the recent pivot in political discourse from other policy issues to the coronavirus. While civil rights and discrimination, health care and the economy dominated the political discourse on Twitter in February, by the second week of March, users had turned their attention to COVID-19, researchers found. “With the election project, they are literally scouring the web to see what people are saying,” Papatla said. “They are getting, every day, tens of millions of data points. ... In addition to that, the data itself is different from traditional numeric data, in the sense that it could be textual data, people posting on Twitter; visual data, people
uploading a picture of something on Instagram; video data, audio data. Data is now very different from the traditional view of what data was.” While the deluge of data available today has dramatically changed research practices, the challenge is developing the skills to mine meaning from it, Papatla said. But, for companies that are successful at doing so, data science can be used to make more informed decisions, solve problems and create new products. In a recent panel discussion at the Milwaukee Engineering Research Conference regarding the role of big data in industry, NDMSI executive director Keri McConnell said it now informs all areas of business at Northwestern Mutual. “In the life insurance industry … the actuaries will say they were the original data scientists, because they were,” she said. “And
Purush Papatla, co-director of the Northwestern Mutual Data Science Institute.
now when you look at what we’re doing, from underwriting to running our operations, to putting in new systems, creating a rich customer experience with digital, data is in everything we do.” Papatla said he wants students to apply their skills to fill that need among area companies.
“There aren’t enough people to take advantage of all that data science can offer,” he said. “... As this institute takes root and becomes more and more successful, the region as a whole will become more attractive for employers looking for data science talent. They will come here and set up shop.” n
HIGHER EDUCATION. HIGHER POTENTIAL.
GRADUATE PROGRAMS
Applied Biotechnology (MS) Applied Professional Studies (MA) Business Administration (MBA) Biological Sciences (MS) Clinical Mental Health Counseling (MS) Computer and Information Systems (MS) Health and Wellness Management (MS) Healthcare Administration (MS) Information Technology Management (MS) Sport Management (MS) Sustainable Management (MS) NEW! Smart City Graduate Certificate
May 16th, 2020 6-10pm Blue Mound Golf & Country Club
Wauwatosa, Wi
LEROY BUTLER GREEN BAY PACKERS (1990-2001) MISS WISCONSIN, ALYSSA BOHM STEVE “THE HOMER” TRUE INDIVIDUAL TICKET $150 CORPORATE TABLE (8) $1,000
Designed for busy, working adults. Learn more at uwp.edu/GRADUATE Proceeds to Benefit St. Coletta of Wisconsin
www.stcgala.com
Be at Parkside. UWP.EDU/ADMISSIONS ADMISSSIONS@UWP.EDU 262-595-2355
biztimes.com / 33
Strategies FAMILY BUSINESS
Best laid plans Be prepared, for the sake of the next generation Part three of a series FAMILY BUSINESS owners are usually all about control. Control inventory, cash flow, product quality, and even who takes out the garbage. Many family business owners report that they are jacks or jills of all things. They keep records and plan for every eventuality. They are so much in control that they even stay in the business too long to make sure it goes as they would have it go. The frustration that many next generation owners speak of is palpable. “Dad micromanages everything!” One generation next reported to me that Dad even rearranges the direction the plants are facing in the greenhouse, turning them 5 or 10 degrees, just to keep his thumb in every pie – or plant. To the business owner, often the founder, this minor shift is making sure their investment, often all the liquidity that they have, is secure. To generation next, this seemingly small turn of a plant is a defiant thumb in the eye, albeit a green thumb, to a generation just wanting to do things in a new, oft-perceived better, way. Nowhere is this blood-feud more evident than in the financials. The owner guards the keys to the chest with the secrets of the business with a Herculean grip. Quarterly reports are not shared and this withholding of information is in fact a constant reminder of just who is in charge. For a business that eventually will change 34 / BizTimes Milwaukee MARCH 30, 2020
hands, this is a mistake. Sharing of information, the good and the bad, is crucial for continuation and longevity and ultimately for the legacy of the owner. For those of you who have been keeping up with my ongoing personal story, this has all gotten quite real for me. Back before Thanksgiving, my mother was diagnosed with terminal cancer. She was doing fine until a routine exam exposed the hideous reality she was hiding on her back. My father’s words – “We all have an expiration date” – he uttered immediately following that ontologically revealing exam. He then turned to me and told me how much had been saved, where it was and, as if to reassure himself, that we would have enough to see Mom through until the end. After all, “This is why we saved in the first place.” Fast forward to January and a second oncological exam, which revealed three more areas of cancer, which just added insult to injury. That night, at an impromptu meeting called by Dad, he announced a new direction. He and Mom would live it up! Pleased with the idea, I encouraged this recklessness only to find that, in their world, “living it up” meant going out to dinner three times a week. Regardless, Dad had a plan and Mom approved. The next evening, while getting up to make the second of the nightly cocktails, Dad told Mom he forgot how to make hers. He had a massive brain hemorrhage and mentally died on the spot. As his next gen, I was called to the hospital to see evidence I could not refute. Dad’s previous evening’s best laid plan had been laid to waste by a stroke from which he could not recover. While we dutifully watched for five days as Dad struggled for breath, the generation next son was now generation current. I did my duties on the business end, notifying the shocked attorney, financial advisor and accountant. Everything was in place. Dad was meticulous in his bookkeeping and left me with clear trails to follow, except for one thing. The keys! The key to the metal box – the key to the safety deposit box!
The hospice nurses at Froedtert told us daily during our vigil that he could hear us. We talked to Dad as if he was going to get up and walk out of there once the fog cleared. At one point I said to him, “Where did you put the damn safety deposit box key?” My answer came later that night when it tumbled out of an envelope I swear wasn’t there before. There they were, the keys to the empire. I was prepared to lose one parent. I am not prepared to lose two. But my plans are irrelevant. As business owners, you can plan and position your business for seemingly every eventuality and then your best laid plans can disappear all in one cerebral implosion. My best advice is to share before it is too late. Inform, communicate and bring on board the next generation so that the company can continue to move forward. You worked too hard in your lifetime to see it all go to waste at your death. Confidence you show now in the next generation will yield a legacy that long outlives your presence. n
DAVID BORST David Borst E.D., is executive director and chief operating officer of Family Business Leadership Partners, a regional resource hub for family business. He can be reached at david.borst@cuw.edu.
MANAGEMENT
Patience is a virtue Build up your team’s confidence, energy WE’VE HEARD IT for generations: Patience is a virtue. I was skeptical of this adage for many years. There didn’t seem to be any evidence to prove it. Just the opposite, in fact. Thinking fast, working fast and moving fast seemed the best (and quickest!) way to earn the good stuff: visibility, opportunity and reward. It was true in school, in sports, and certainly in early jobs. It wasn’t until I became a manager and ultimately a division leader that I began to appreciate the virtue of patience. In time I also recognized that patience is a critical leadership skill and can be a powerful competitive advantage. My first inkling came when I supervised an individual who talked continuously and said very little. I watched and listened as other people made fun of this person and discarded everything that was said. In trying to figure out how to help the individual, I began to listen more closely. What I heard was a plea for recognition and some strong knowledge that needed context. My awareness deepened while conducting workshops and running meetings during which people processed information at different speeds. Some required more time to reach understanding. My learning was most profound while leading a turnaround effort in which some colleagues refused to accept or adopt change, not because they were inherently stubborn or resistant, but because they had significantly different viewpoints and experience. Having the pa-
tience to hear them mattered. Stalemates forced us to map out the business. In doing so, everyone learned and we came up with solutions that yielded new growth. Classic Type A’s, who are celebrated for wasting no time, accomplishing way more than the average Joe, and requiring far less rest or down time than their counterparts, may scoff at this notion of patience. Understood. But some may also privately recognize that their relentless pursuit of excellence or being right has the potential to sow seeds of discord, resentment, alienation and revolt at work, and wreak havoc in their personal life. That’s a strong statement. It is real. If you have these hard-charging tendencies, please take a moment to reflect. Do you realize how much risk you introduce when your lack of patience makes colleagues and staff nervous? How quick criticism shuts down critical dialog and stimulates bad decisions? Have you considered the costs associated with hair-trigger reactions? Can you sense when your A-players resent micro-judgments that sap their energy or diminish their interest in staying on your team? Pay attention to these signals. They are danger signs. They are also invitations. To listen more closely. To understand more deeply. To encourage rather than critique. To invite more engagement. One of the greatest gifts of patience is in helping people find their footing and their voice as they build your business and serve your customers. Your job as a leader is to challenge and support, encourage and correct and develop. Share what you know, allowing others to learn at their pace. Where learning requires urgency and speed of understanding and application, choose your team carefully. There can be no shrinking from this. Where learning enjoys a longer arc, temper your impatience. Engage people who have an affinity for the discipline, but who may need more time to process and apply. Encourage dialog. Ask how they see things. Listen to understand and appreciate their perspective. You will broaden your awareness and may find innovation in the process. Yes, it will be difficult. Changing one’s
natural pace always is. You may decide the results don’t warrant your discomfort. Take your time in reaching that conclusion. Patience becomes powerful when it delivers competitive advantage through a more confident workforce. Anyone can replicate your technology or marketing or sales formulas. They cannot replicate strong thinkers and bold decision makers. Patience in today’s business world feels like a luxury. But if you can discipline yourself to 1) slow down on occasion, 2) focus with the reciprocal intent to impart knowledge and learn something new, and 3) extract and give back value to everyone involved, you will have practiced a critical leadership skill. You will have energized people to make what exists better and expand what’s possible through collaboration. n
SUSAN MARSHALL Susan Marshall is an author, speaker and the founder of Backbone Institute LLC. For more information, visit backboneinstitute.com. biztimes.com / 35
Strategies LEADERSHIP
Engagement It’s all about the team’s leader ENGAGEMENT has become a boardroom priority because it delivers measurable bottom line impact improving productivity, speed, customer satisfaction and employee retention. Engagement as a business term was first coined in 1990 by William Kahn, professor of organizational behavior at Boston University’s Questrom School of Business, who defined employee engagement as being dependent on three conditions: 1. Psychological meaningfulness 2. Psychological safety 3. Psychological availability Meaningfulness refers to an individual’s connection to his or her role and purpose at the organization. Safety pertains to the ability to share oneself openly, including one’s values and ideas, without fear of repercussion or conflict. Availability involves the physical, emotional and intellectual resources an individual possesses to invest in his or her work. For the first time since Gallup began tracking this metric in 2000, employee engagement last year reached 35%, an all-time high. What’s driving this uptick? Not surprisingly, the level of trust shared with the immediate team leader. The 2019 Global Study of Engagement Technical Report produced by ADP Research Institute shows that “being on a team” and “trust in team leader” are the two primary contributors to high engagement. According to the survey, employees are 12 times more likely to be fully engaged if he or she trusts the team leader, and this 36 / BizTimes Milwaukee MARCH 30, 2020
happens when employees rate two conditions as positive: » At work, I clearly understand what is expected of me. » I have the chance to use my strengths every day at work. This research stands on the shoulders of other studies that confirm people quit their bosses, not their companies. In other words, if you work for a boss who you trust and respect, you will stay at a company even if you don’t like the culture. But if you work for a boss who you don’t respect, even if the company culture is great, you will likely leave that boss or the company. What distinguishes the best team leaders from all others is that, in addition to their ability to meet the above two categories for the people on their teams, the leader makes people feel that the work they are doing is meaningful while also taking time to acknowledge and recognize each individual for their contribution. According to the ADPRI study, at companies with more than 150 employees, 91% of employees who report working on teams, including virtual teams, report engagement levels that are almost double other employees. What does that mean? To some degree, it means that we need to slow down to go fast. In other words, managers and team leaders need to communicate why the work is important and how each team member’s contribution makes a difference. I recall interviewing the president of a plastics manufacturing company who hung photos of the manufactured products near each cell so employees could see how the particular part they were molding contributed to a safe motorcycle, piece of mining equipment, or complex industrial machine. This changed how people interpreted the meaning and importance of their work. With the latest research showing that teamwork and purpose drive engagement, we need to ask ourselves: How can we better empower our frontline managers so they are able to communicate, inspire, recognize and develop their direct reports?
A Harvard Business Review Analytics report titled “Frontline managers: Are they given the leadership tools to succeed?” shows that only 20% of frontline managers are competent to develop talent and 19% inspire others. Certainly, we can do better than that. Recognizing the cost of turnover, talent acquisition, lost productivity and the burnout experienced by team members who “pick up” the extra work, I submit that by investing in input (high development), we will generate measurably higher output (high performance). But, for this to happen, managers need to learn how to become better coaches. They need to shift from being the problem solver to empowering others with the strategies and tools to solve their own problems, from being the criticizer to catching people doing the right thing, and from focusing on development opportunities to leveraging individual strengths. Professor Kahn’s research reinforces that teamwork builds a culture of trust. People who are empowered up, down and across the organization make a meaningful difference and are recognized for their effort. In a high trust environment, engagement increases and becomes self-perpetuating. n
CHRISTINE MCMAHON Christine McMahon is a former sales executive for Nabisco, SlimFast and Procter & Gamble. She offers sales and leadership training, conference keynotes and executive coaching. She can be reached at (844) 3692133 or ccm@christinemcmahon.com.
Marketplace
Contact Pavlic Vending
Leaders in Environmental, Safety and Resource Recovery Services. Full Service Provider Environmental/Safety Programs Development Sustainability Programs Compliance Services Waste Management Services Training
262-790-2500 | www.enviro-safe.com
FRIESIAN HERD EXPERIENCES
to get your market today! Variety, convenience and healthy foods… all at no cost to your organization!
262.574.1600 | www.pavlicvending.com Sign-up now for private riding lessons! Business Hours: Mon. - Business Fri. 9:30 -Hours: 5:30 Saturdays Mon. - Fri. 9:30 9:30- 1:00 - 5:30 Saturdays 9:30Hours: - 1:00 Business Mon. - Fri. 9:30 - 5:30 Saturdays 9:30 - 1:00
Where horses help heal people Tours Horses for Sale Corporate Events Foaling Experiences Commercial Photo Shoots Herd Life Coaching for Adults Equine Facilitating for Herd Healing
9034 W. National Ave.
262-510-8963 friesianherd@yahoo.com friesianherdexperiences.com
Phone: 414 • 321•1850 Fax: 414 •5999 Phone: 414• 321 • 321 •1850 9034 W. National Ave. kathysshadeshop.com Owner Fax: 414 • 321•5999 West Allis, WI 53227 - Custom Window Treatments Phone: 414 • 321•1850 kathysshadeshop.com Owner - Commercial and Residential Fax: 414 • 321•5999 - Repairs of most Shades and Blinds kathysshadeshop.com Owner WestW. Allis, WI 53227 9034 National Ave. West Allis, WI 53227
Kathy Fucile
Kathy Fucile
Kathy Fucile
Design • Site Surveys • Permitting • Production • Installation
262.432.1330 • Innovative-Signs.com
GET THE WORD OUT! News? Press Releases? Awards? Show them off in BizTimes’ new BizUpdates section. Submit your company news at at biztimes.com/bizconnect
biztimes.com / 37
BizConnections BIZ PEOPLE
Advertising Section: New Hires, Promotions, Accolades and Board Appointments
LEGAL SERVICES Attorney Courtney A. Hollander Receives IACCP Designation Courtney A. Hollander, a member of the Tax, Securities and Business and Corporate Law Sections at von Briesen & Roper, s.c. has received the Investment Adviser Certified Compliance Professional (IACCP) designation.
HEALTH CARE Standard Process Brings on New Vice President To Continue Company’s Strategic Growth. Standard Process announced the addition of Tim Goeben to its senior executive team as its new Vice President of Finance. Tim brings more than 25 years of progressive business finance and executive leadership experience to the company.
PROFESSIONAL SERVICES Amy Kust Named TRC Global Mobility EVP & CFO. Amy Kust was named Executive Vice President and Chief Financial Officer of TRC Global Mobility by the company’s outside board. Amy has been with TRC since 2009. TRC is the only 100% employee-owned relocation management company in the industry.
To place your listing, or for more information, please visit biztimes.com/bizconnect
New Hire? Share the news with the business community! Announce new hires, promotions, accolades, and board appointments with BizPeople.
Visit biztimes.com/bizconnect to submit your news!
38 / BizTimes Milwaukee MARCH 30, 2020
PROFESSIONAL SERVICES Sean Lickver Named TRC Global Mobility CEO. Sean Lickver was named the Chief Executive Officer of TRC Global Mobility by the company’s outside board. Sean has been with TRC since 2011 and previously served as the company’s president. TRC is the only 100% employee-owned relocation company.
PAY IT FORWARD
Philip O’Brien advocates for cancer patients, research Philip O’Brien Attorney Reinhart Boerner Van Deuren
JAKE HILL PHOTOGRAPHY
Nonprofit served: A merican Cancer Society Service: Board member for ACS Cancer Action Network
FROM OFFERING RIDES to the hospital, to knitting caps for chemotherapy patients, to advocating for more research dollars, Phil O’Brien says everyone has a part to play in the fight against cancer. For O’Brien, an attorney with Milwaukee-based Reinhart Boerner Van Deuren, his newfound role is board member for the American Cancer Society Cancer Action Network, the national organization’s nonpartisan advocacy arm. O’Brien has been involved with the ACS for more than 15 years, ever since his then legal assistant, Ellen Persik, encouraged him to raise money for the organization. Soon after, Persik – who was instrumental in launching the first Making Strides Against Breast Cancer walk in Milwaukee 25 years ago – volunteered O’Brien to serve on the ACS’s Wisconsin leadership committee. Since then, he’s held various board roles with the ACS and recently assumed his role on the national ACS CAN board. Based in Washington, D.C., ACS CAN relies on volunteers across the country to educate elected officials on cancer-fighting policies, which in turn shape local, state and federal legislation. Working with ACS has allowed O’Brien to advocate for improved patient care, timely detection and increased investment in research, he said. “I found my voice,” he said. “I’m an advocate. I’m a lawyer. I can talk to lawmakers without being intimidated because I’ve dealt with individuals of various personalities over the years and difficult cases and have dealt with high-leverage situations in my job. I realized I could be an advocate. I
could be their voice.” O’Brien’s ACS board work is backed by support from Reinhart Boerner Van Deuren, which has raised more than a half-million dollars and supported the organization in various ways over the past 25 years. “We’ve had women in this office who, for many years, would sew and knit chemo caps for individuals who were undergoing treatments; that’s a great legacy we’ve had here,” he said. “It’s not just an issue of money, although that’s very important to the cause … (The firm’s leaders) have always been squarely behind ACS’s mission and I think that’s something that reflects extraordinarily well on this community.” O’Brien said he’s continually inspired by the work of other volunteers, cancer survivors and their families. “Volunteers do so many selfless things; it’s very inspiring,” he said. “It’s very easy to take up the mantle and do what you can when you see examples like this on an everyday basis.” n
LAUREN ANDERSON Associate Editor
P / 414-336-7121 E / lauren.anderson@biztimes.com T / @Biz_Lauren
biztimes.com / 39
BizConnections VOLUME 26, NUMBER 1 | MAR 30, 2020
GLANCE AT YESTERYEAR
126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120 PHONE: 414-277-8181 FAX: 414-277-8191 WEBSITE: www.biztimes.com CIRCULATION: 414-336-7100 | circulation@biztimes.com ADVERTISING: 414-336-7112 | advertising@biztimes.com EDITORIAL: 414-336-7120 | andrew.weiland@biztimes.com REPRINTS: 414-336-7100 | reprints@biztimes.com PUBLISHER / OWNER Dan Meyer dan.meyer@biztimes.com
SALES & MARKETING
DIRECTOR OF OPERATIONS Mary Ernst mary.ernst@biztimes.com
1910 Stroh building made way for JCI This undated photo shows the Stroh Die Molded Casting Co. building at what today is 525 E. Michigan St. in downtown Milwaukee. The building was built in 1910 and demolished in 1998. It was replaced by a Johnson Controls building. — Photo courtesy of Milwaukee Public Library
COMMUNITY ENGAGEMENT / OWNER Kate Meyer kate.meyer@biztimes.com
EDITORIAL EDITOR Andrew Weiland andrew.weiland@biztimes.com ASSOCIATE EDITOR Lauren Anderson lauren.anderson@biztimes.com ASSOCIATE EDITOR Arthur Thomas arthur.thomas@biztimes.com REPORTER Brandon Anderegg brandon.anderegg@biztimes.com REPORTER Maredithe Meyer maredithe.meyer@biztimes.com REPORTER Alex Zank alex.zank@biztimes.com
DIRECTOR OF SALES Linda Crawford linda.crawford@biztimes.com ACCOUNT EXECUTIVE Paddy Kieckhefer paddy.kieckhefer@biztimes.com ACCOUNT EXECUTIVE Molly Lawrence molly.lawrence@biztimes.com ACCOUNT EXECUTIVE Maggie Pinnt maggie.pinnt@biztimes.com ACCOUNT EXECUTIVE Christie Ubl christie.ubl@biztimes.com INSIDE SALES ACCOUNT EXECUTIVE Dylan Dobson dylan.dobson@biztimes.com SALES ADMINISTRATOR Meggan Hau meggan.hau@biztimes.com
ADMINISTRATION ADMINISTRATIVE COORDINATOR Sue Herzog sue.herzog@biztimes.com
PRODUCTION & DESIGN GRAPHIC DESIGNER Alex Schneider alex.schneider@biztimes.com
Independent & Locally Owned
ART DIRECTOR Shelly Tabor shelly.tabor@biztimes.com
— Founded 1995 —
COMMENTARY
We’re at war THE ENTIRE WORLD is at war with an invisible enemy: the COVID-19 coronavirus.
After downplaying the seriousness of the coronavirus threat for weeks, President Donald Trump now correctly acknowledges that to be the case. This is a very different kind of war than what we are used to. Instead of soldiers, the heroes risking their lives to fight this war are doctors, nurses and other health care professionals. Public health experts, not generals, are crafting the battle plan. The military has a role in this fight, but the microscopic enemy can’t be killed with bullets or bombs. We need tests and treatments to face this foe, and unfortunately, we do not have enough of them. This is a war that will define our generation, much like the War on Terrorism defined the post-9/11 world. Incredibly, terrorism is no longer the world’s greatest threat. It’s germs. This war will leave a lasting impact and it will change how we think about the world, how we behave, 40 / BizTimes Milwaukee MARCH 30, 2020
our values and global politics. Some, including President Trump, have compared the coronavirus threat to World War II. At press time more than 14,500 people in the world have died from COVID-19, but World War II killed 70 million to 85 million. The World War II comparison makes more sense in terms of the collective sacrifice that we all have to make. During World War II that meant military service and rationing. In this war it’s all about social distancing, which has had a profound effect on our lives and our businesses. Sporting events, concerts and other gatherings have all been canceled. We can’t go out to eat or socialize. We can’t go to the gym, or even to church. Our economy has been devastated. One of the biggest reasons the United States and its allies were victorious in World War II was that America’s manufacturing sector shifted production to produce the weapons, vehicles, planes and materials needed. We must take that approach again and use our nation’s manufacturing might to produce the medical supplies, protective gear and equipment, especially ventilators, that officials say are in short supply to fight COVID-19. Trump signed the Defense Production Act
to combat the virus, but says it would be better if companies willingly produce products to help fight COVID-19, rather than do so by government order. Several companies have expressed interest in producing needed supplies or equipment, including Ford, GM, Tesla, Hanes, Honeywell, GE Healthcare and 3M. The sooner they can do so, the better. Some have already begun. A difficult struggle lies ahead. We need to continue to listen to and heed the advice of scientific experts. We desperately need to restart our economy, but only once it’s safe to do so. The government will need to help businesses and individuals get by in the meantime. Let’s all pull together. We will get through this. n
ANDREW WEILAND EDITOR
P / 414-336-7120 E / andrew.weiland@biztimes.com T / @AndrewWeiland
AROUND TOWN
Young Guns kickoff event
1
3
2
4
5
6
8
7
The Young Guns group recently held its first event at the Italian Community Center in Milwaukee’s Historic Third Ward. 1.
STEVE YAHNKE of TKO Miller and JERRY JENDUSA of Stuck Coaching.
2.
AMY QUERIN and EMMA BRONSON, both of Titus Talent Strategies.
3.
JACKSON BUBOLZ of Elevated Insurance and ALYSON MARR of Keller Williams.
4.
RHONDA NOORDYK of Women’s Financial Wellness Center and JUDY HAHN of Hahn Holistic Health.
5.
DANNY FROMSTEIN and JEREMY SCHMIDT, both of PNC Bank.
6.
SARAH BAUER of Heartland Security and JUSTIN BOHL of Get Beyond.
7.
WAYNE BREITBARTH of Power Formula LLC and LORI HIGHBY of Keystone Click.
8.
TIM MCMURTRY of Employ Milwaukee and DENISE THOMAS of The Effective Communication Coach LLC.
2020 M&A Forum BizTimes Media recently held its 13th annual M&A Forum at the Milwaukee Marriott Downtown hotel.
9
11
10
9.
LISA WHITEMAN of Willis Towers Watson and KATIE FELTEN of Strategy House.
10. FAITH GREENE, TIM GRECI and NICK MYDLACH, all of Taureau Group LLC. 11. NANCY THOMPSON and GEORGE SATULA, both of Vistage. 12. TYLER CARLSON of Taureau Group, ANDREA BUKACEK of Bukacek Construction and ALAN CLARK of First American Bank.
12
13. LEANNE FOSTER of Water Street Advisors, PAUL SACKMANN of Old National Bank, JOHN CORNELL of Crescendo Trade Risk and DAVID MOHORICH of National Exchange Bank & Trust.
13
14. TOBY CANAPA of Rockwell Automation and ADA NIELSEN of The PeregrineMaven Group. 15. TOM VENNER of Taureau Group LLC and MIKE CORNELL of North Shore Bank.
14
15
16
16. KIM ERDMANN of Schaefer Brush Manufacturing LLC, KATIE FELTEN of Strategy House and CHERYL ASCHENBRENER of Sikich. Photos by Maredithe Meyer biztimes.com / 41
BizConnections MY BEST ADVICE
“ You
PAUL BIELINSKI Chief executive officer and vice president
Bielinski Homes Pewaukee Industry: Home builder bielinski.com Employees: 45 “THE BEST ADVICE I EVER GOT was from my father. It was a point a number of years ago where I was doubting myself and my dad basically told me: ‘You’re a Bielinski and that means you can figure your way out of any problem if you put your mind to it.’” “Any issue that’s in front of me, I take a moment, slow down, think about it, ask questions and, as long as I’ve done that, he was right; I’ve never had that self-doubt again. I’ve been able to handle any situation that ever arose. There is always a way to work your way out of an issue. “I’ve learned from him: don’t quickly make a rash decision. It is OK. I can walk away from this for a moment, for an evening, step away. Not every single thing requires us to jump on it immediately.” 42 / BizTimes Milwaukee MARCH 30, 2020
JAKE HILL PHOTOGRAPHY
can figure your way out of any problem if you put your mind to it.” AGE: 50 PROFESSIONAL EXPERIENCE: Bielinski has been with the family business since 2001, joining the company as director of marketing. He was chief operating officer from 2003 to 2018, when he was named CEO. At the end of 2019 he became vice president and a company owner, along with his CEO role. Before joining Bielinski Homes, he was director of merchandising at Congoleum Corp. in New Jersey. IN THE NEWS: Bielinski Homes has made a point of embracing technology and recently launched the Room Visualizer and The Digital Design Studio, online tools that help customers see what different options would look like and make choices about which to include in their home. Bielinski also said he’s placed an emphasis on improved communication with customers since taking over as CEO. n
Make connections
Build your network
Grow your business
**NEW DATE: WEDNESDAY, AUGUST 19, 2020 16th Annual
ACCEPTING BOOTH RESERVATIONS NOW
9:00 A.M. - 4:30 P.M. | Potawatomi Hotel & Casino
MEET YOUR FUTURE CUSTOMERS AT WISCONSIN’S LARGEST ONE-DAY BUSINESS EVENT. 360 Direct, Inc. 88Nine Radio Milwaukee Balestrieri Environmental & Development Inc. BizTimes Media BT 360 Butters-Fetting Co., Inc. Carefree Boat Club of Wisconsin Central Office Systems Centurylink Citizens Bank Dash Development Group Epic Color Group EWH University for Small Business Exacta Corporation First Federal Bank of Wisconsin FitTech Hosting Greater Brookfield Chamber of Commerce Green Bay Packers Greenfire Management Services, LLC HarmonyWorks Highlights Media LLC iHeart Media/1130 WISN
Imperial Service Systems Innovative Signs J.H. Findorff & Son Inc. Lamar Outdoor Advertising Lauber Business Partners Majic Productions MalamaDoe - A Coworking Community for Women Marquette University High School Martinizing Dry Cleaners & Commercial Cleaners Midwest College of Oriental Medicine Milwaukee Bucks Milwaukee Metropolitan Assoc. of Commerce (MMAC) Milwaukee Screen & Stitch (OHM Holdings) Minuteman Press Neher Electric Supply, Inc. Ogden & Company, Inc. Olive Promotions Ollenburg LLC Promotion Pros Renewal by Andersen Ryan Kromholz & Manion, S.C. Saturn Lounge
Saz’s Hospitality Group SC Aviation Spectrum Enterprise Stamm Business Technologies Summit Credit Union SVA Certified Public Accountants S.C. The Delafield Hotel The Payroll Company Town of Brookfield Tourism Division Transistor Trinergy Health LLC U.S. Cellular Upper Iowa University Vistage Waukesha County Business Alliance (WCBA) Waukesha State Bank Wegner CPA’s Wintrust Wisconsin Institute of CPAs (WICPA) Women Business Owners Network (WBON)
REGISTER TODAY! | BIZTIMES.COM/BIZEXPO2020
*As of 3/23
WE’VE BUILT A LOT OVER THE LAST 100 YEARS
39 36
37
38
LIKE OUR REPUTATION AS A BUILDER YOU CAN TRUST. You don’t build a reputation overnight. It’s built over a lifetime of hard work, kept promises, and acting with integrity. At CG Schmidt, we’ve been building our reputation as a construction company our clients can trust since 1920, through four generations of family leadership. Whether it’s the school where our children learn, the office buildings we work in, or the hospitals where our loved ones heal, we’re proud to be Wisconsin’s Trusted Building Partner.
MILWAUKEE // MADISON // CGSCHMIDT.COM