BizTimes Milwaukee | December 11, 2017 by BizTimes Media

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BizTimes Milwaukee (ISSN 1095-936X & USPS # 017813) Volume 23, Number 19, December 11 - 17, 2017. BizTimes Milwaukee is published bi-weekly, except two consecutive weeks in December (the second and third weeks of 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 2017 by BizTimes Media LLC. All rights reserved.

Contents

4 Leading Edge 4 NOW BY THE NUMBERS 5 BEHIND THE SCENES 6 BIZ POLL WHO’S ON THE BOARD 7 QUOTE UNQUOTE 8 BIZTRACKER 9 REV UP 10 THE PUBLIC RECORD 11 STYLE

12 BizNews 12 ‘ PROJECT PITCH IT’ TO RETURN FOR SECOND SEASON 14 MY TAKE

16 Real Estate 25 Leadership 25 9 0 IDEAS IN 90 MINUTES HIGHLIGHTS

31 Strategies

COVER STORY

31 GENERATION Y Aleta Norris 32 WORKFORCE DEVELOPMENT Kathleen Gallagher 33 TIP SHEET

Unions adjust to right-to-work reality

38 BizConnections

Special Report 27 Banking & Finance

Analysts’ insights on how the Bank Mutual and Associated Bank merger will play out, and a look at what it takes to become an angel investor.

38 PAY IT FORWARD 39 PERSONNEL FILE 40 GLANCE AT YESTERYEAR COMMENTARY 41 AROUND TOWN 42 MY BEST ADVICE

HOLIDAY PARTY

WITH US!

LEARN MORE AT PAYSBIG.COM/MEETINGS

Leading Edge

BIZTIMES MEDIA – Like us

NOW

Tim and Jamie Speaker of J.W. Speaker.

J.W. Speaker to add 132 jobs in planned expansion By Arthur Thomas, staff writer Germantown-based J.W. Speaker Corp. is planning a multi-phase expansion of its corporate campus that would add about 150,000 square feet of space and 132 new jobs. The project would be supported by almost $2.7 million in tax incre-

BY THE NUMBERS The Bon-Ton Stores Inc., the parent company of Boston Store, plans to close

4 / BizTimes Milwaukee DECEMBER 11, 2017

OF ITS STORES

through 2018.

mental financing from the village to cover the extension of sewer and water to new facilities, along with other site improvements. Village officials anticipate additional land and improvements valued at about $26.8 million in the TIF district from new development and from the expansion of the J.W. Speaker facility. Job creation at J.W. Speaker is expected to result in more than $6 million in additional payroll, according to village documents. J.W. Speaker, which manufactures and assembles high-performance vehicle headlights, has been working with the village throughout the year on its expansion plans. In July, the company sought rezoning approval for land immediately west of its current facility along Freistadt Road. It sought additional rezoning for land farther west, along Goldendale Road, in October. George Lehnerer, chief financial officer at J.W. Speaker, said in July the company was becoming constrained in its current 162,000-square-foot facility and was exploring different options. The rezoning requests were approved, but after some residents expressed concerns about the area going from agricultural to industrial, the company proposed using a planned development district to “tailor-make” a zoning district that allows for a low-density, rural campus while also addressing

the concerns of neighbors. J.W. Speaker’s expansion plans for the 144-acre project area include the addition of a 35,000-square-foot surface mount technology building for circuit board assembly and a 40,000-square-foot product design center. The facilities represent the first phase of the project and would be built in 2018 and 2019, according to village documents. A 4,000-square-foot conference and retreat center would be built in 2019 or 2020 as the second phase. The third phase calls for a 70,000- to 90,000-square-foot expansion of the existing manufacturing facility. An additional manufacturing facility is planned for future expansion. In its request for a planned development district, the company says it wouldn’t add the facility until sometime after 2020 and would lease the land for cash crops until it was ready to expand. Documents supporting the TIF district have the final $11.4 million expansion happening in 2027, but also note the timeline is to be determined. J.W. Speaker was established by John W. Speaker in Milwaukee in 1935 as a manufacturer of automotive repair parts. The company remains a family-run business and is led by Speaker’s grandsons, Tim Speaker and Jamie Speaker, who are co-presidents and co-owners. n

DAN PROFIO PHOTOGRAPHY

BEHIND THE SCENES Troubadour Bakery By Maredithe Meyer, staff writer

roubadour Bakery, a Colectivo offshoot, produces and prepares the cafés’ baked goods, pastries, breads, soups, sandwiches and burritos at its baking facility, located at Colectivo’s Bay View café on Kinnickinnic Avenue. It supplies the 16 Colectivo cafes, located in Milwaukee, Madison and Chicago, with 40,000 to 50,000 bakery and food items each week. Troubadour operated for 15 years before it was officially named in 2014. The bakery operates 24 hours a day, every day of the year. n

Troubadour’s Bay View building houses a café, baking area, savory food preparation area, full-service dishwashing room and dry stock warehouse.

The bakery preparation team begins the day between 3 and 4 a.m. to prepare the baked goods for the baking team, which arrives at about noon to bake, decorate and load the baked goods onto delivery trucks.

Yesenia Santana, of the bakery production team, fills muffin cups with scoops of coffee cake muffin batter. Troubadour makes 1,400 to 1,700 muffins each day.

Joshua Rahn, Caitlin Woodward and Nayeli Flores, all of the pastry production team, cut and roll dough to make croissants. The team produces 1,800 croissants per day. Troubadour’s pastries are machine-rolled, but cut by hand.

After cookies are baked and cooled, they are packaged in bags and ready for delivery. Troubadour starts testing its holiday cookie recipes in October.

biztimes.com / 5

Leading Edge BIZ POLL

BIZTIMES MEDIA – Connect

Who’s on the Board?

A recent survey of BizTimes.com readers.

How much do you plan to spend on Christmas gifts this year?

About the same as last year:

41%

39% More than last year: 20% Less than last year:

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

ROCKWELL AUTOMATION INC. • Keith Nosbusch, chairman and retired chief executive officer, Rockwell Automation • Betty Alewine, retired president and CEO, COMSAT Corp. • J. Phillip Holloman, president and chief operating officer, Cintas Corp. • Steven Kalmanson, retired executive vice president, Kimberly Clark Corp. • James Keane, president and CEO, Steelcase • Lawrence Kingsley, former chairman and CEO, Pall Corp. • William McCormick, Jr., re-

Moret and Nosbusch

tired chairman and CEO, CMS Energy Corp. • Blake Moret, president and CEO, Rockwell Automation • Donald Parfet, managing director, Apjohn Group LLC Tracy • Lisa Payne, former chairman, Soave Enterprises and president, Soave Real Estate Group • Tom Rosamilia, senior vice president, IBM Systems • Patricia Watson, senior executive vice president and chief information officer, Total Systems Services Inc.

“Our health care costs are down about 5 percent per employee.” Russ Darrow, Chairman and CEO Russ Darrow Automotive Group

Aurora Health Care helps businesses build healthier and happier workplaces. We offer more access to exceptional care, including more locations closer to home, more care options and world-class doctors, all at a cost that fits your bottom line. To hear the rest of Russ Darrow Automotive’s story and to learn how we can work with your company, visit aurora.org/workwell

6 / BizTimes Milwaukee DECEMBER 11, 2017

“ QUOTE

unQUOTE

K E L LY O ’ B R I E N

”

PR E SI DEN T A N D CEO, A L L I A N CE FO R R EGI O N A L DE V ELO PM EN T Kelly O’Brien, the president and CEO of the Alliance for Regional Development, was the keynote speaker at the annual BizTimes Commercial Real Estate and Development Conference. The Alliance is a coalition of business, government and academia working to strengthen the economic competitiveness of Chicago’s tri-state megaregion, a 21-county area that includes southeastern Wisconsin. n

“For the (most recent) 10-year period, the national average for economic growth was 6.2 percent. Our region was 2.4 percent.”

“What we are doing isn’t working. It has been decades that we have been lagging behind other metro regions. It means people have to work together.”

“There are so many issues where people do not want to work with the county next door, never mind the county across the state line. We’ve got to change that mentality.”

“Traditional economic development is business location and relocation. And there should be sharp elbows when it comes to that. But there are other areas where we need to work together.”

“If we want to compete on the global stage, we have got to forget about these arbitrary state lines.”

“You have no idea what I have been through trying to break down the barriers, trying to change the culture, of economic development.” biztimes.com / 7

Inspired by Innovation

Leading Edge

Davis & Kuelthau’s Construction Industry and Real Estate Teams are committed to taking a unique approach to guiding you through your legal needs. We proudly work with private and public owners, investors, developers, general contractors, subcontractors, architects and engineers on the full spectrum of start-to-finish services.

The latest area economic data.

9,500

Wisconsin’s economy added

private sector jobs in October, the most since January. To learn more about Davis & Kuelthau’s breadth of related services, contact James Braza, Construction Industry Team Chair, at 414.225.1421 or jbraza@dkattorneys.com or Daniel Kaminsky, Real Estate Team Chair, at 414.225.1431 or dkaminsky@dkattorneys.com.

The Milwaukee ISM manufacturing index was

63.31

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in October, the highest in nearly three years.

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Economic Trends 2018

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110,000 China Lights attracted

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2.5%

Wisconsin’s real gross domestic product rose

in the second quarter.

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February 5, 2018 Space Reservation: January 17, 2018 Contact Linda Crawford today! Phone: 414.336.7112 Email: advertise@biztimes.com 8 / BizTimes Milwaukee DECEMBER 11, 2017

6.2% Home sales were up

in Milwaukee during October.

REV UP

SCANALYTICS INC.

LEADERSHIP: Joe Scanlin, co-founder and chief executive officer H E A D Q U A R T E R S: Milwaukee W H AT I T D O E S: Measures human behavior with intelligent floor sensors and predictive analytics platform F O U N D E D: 2013 E M P L OY E E S: 20

FUNDING: $500,000 angel round, 2013; $2.5 million seed round, 2016.

Scanalytics gains key partners By Molly Dill, staff writer

LILA ARYAN PHOTOGRAPHY

N E X T G O A L S: Raise a series A funding round

Just this year, startup Scanalytics Inc. has formed several key partnerships to help it get to the next stage of growth. The Milwaukee-based company measures human behavior with intelligent floor sensors and a predictive analytics platform deployed in commercial, retail and home environments. In 2017, it officially partnered with Intel, won a Cisco competition and earned an award from the U.S. Department of Energy. “I think a big portion of our inflection point for this year has been the materialization of what we felt the company has always been,” said Joe Scanlin, co-founder and chief executive officer. Intel’s global salesforce can now resell Scanalytics products and the companies work collaboratively to assist large enterprise customers. The Cisco partnership resulted from winning an IoT for business development competition hosted by Cisco. The companies together created a product to communicate Scanalytics data to a building’s occupants via Cisco’s Spark cloud collaboration program. The DOE Advanced Research Projects Agency-Energy award totals more than $850,000 and will be used to apply Scanalytics’ technology to reduce energy use in commercial buildings by quickly and accurately measuring the number of people in the environment and adjusting the lighting and HVAC.

Joe Scanlin holding an intelligent floor sensor.

Other large customers include Raytheon Co., Qualcomm Inc. and Microsoft Corp. Scanalytics’ floor sensors have so many applications, other companies, such as Milwaukee’s manufacturing productivity-focused Improovment LLC, have now started to build products using its technology. Another startup is looking at its use by law enforcement for active shooter situations. “Given our growth activity as of late, we’re going to be raising our series A,” Scanlin said. “The round for us has a very heavy focus on taking advantage of where the company is at thematically.” The size and timing of that round still have to be hammered out, he said. “We’re thinking about buildings as turning them into an application marketplace,” Scanlin said. “If Intel wanted to use the data that we’re creating from the floor to create a security application…we would be able to provide access to that application to all of our existing customers.” Scanalytics’ customers are starting to create new applications themselves, as well. “Our fastest growing list of customers are buying it as an API, so buying it to take the data and put it into other applications or build new applications,” Scanlin said. Creating a framework to build those applications has been driving Scanalytics’ growth, and its need for additional capital. Scanlin plans to add another five to eight employees in 2018. n biztimes.com / 9

Leading Edge

THE

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By Arthur Thomas, staff writer TRANSPORTATION AND LOGISTICS play a key part in any corporate attraction project. In discussions with Foxconn Technology Group, Wisconsin officials felt good knowing large portions of the I-94 North-South corridor had already been redone and money was being set aside to move up the Racine County portion of the project. But Tim Sheehy, president of the Metropolitan Milwaukee Association of Commerce, said Foxconn had a bigger vision and asked for autonomous vehicle lanes to be included in the project. The state Department of Transportation is now working to include the request in its planning, but doing so doesn’t come without costs. The department’s application for a federal grant to support the project sheds light on some of its figures: • $40 million: Contingency to modify project designs in the area near the Foxconn development in Mount Pleasant, potentially including raising bridges, modifying on-ramps and adding retaining walls. • $134 million: Spending for local road improvements, including dedicated all-weather autonomous vehicle lanes on Braun Road and Highway KR.

Future

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• $246.2 million: The amount requested from the federal government’s Infrastructure For Rebuilding America program. Receiving federal money would allow the state to use $252.4 million in bonding set aside in the Foxconn legislation. • 4,000: The number of workers Foxconn plans to shuttle to and from its facility per shift. • ???: The state DOT is planning to make another grant application to enable autonomous vehicle functionality between Highway KR and General Mitchell International Airport by 2021.

???

• 2032: Without federal funding, the I-94 project would be delayed until 2032.

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biztimes.com / 11

BizNews FEATURE STORY

Jerry Jendusa, David Gruber, Deborah Allen, Peter Feigin and Jim Lindenberg will be featured as panelists in the second season of “Project Pitch It.” Other panelists include Tina Chang and Nancy Hernandez.

‘Project Pitch It’ to return for second season 24 aspiring entrepreneurs, seven local moguls will be featured By Lauren Anderson, staff writer

“PROJECT PITCH IT,” a local reality TV show featuring area entrepreneurs and a panel of local business moguls in the style of “Shark Tank,” will return for another season next year. An entirely new set of entrepreneurs will be featured on the show’s second season, along with four new expert panelists. The show’s first season premiered in February with a six-episode run on WISN-TV, Channel 12, in Milwaukee and three other Wisconsin stations.

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WISN-TV Channel 12 has signed on for a second season, set to air in mid-February 2018. The show will also air on four other Wisconsin stations: WBAY in Green Bay, WISC in Madison, WKBT in La Crosse and WSAW/WZAW in Wausau. The show is produced by Bev Greenberg, former vice president of Time Warner Cable and current executive in residence at Cardinal Stritch University, and Dean Maytag, former WISN-TV programming executive. “We’re thrilled that WISN-TV

has offered ‘Project Pitch It’ a season two,” Greenberg said. “The show is dedicated to increasing entrepreneurship in the state of Wisconsin. It will educate, entertain and inspire with our fantastic moguls and hopeful entrepreneurs.” Returning for the second season are three familiar faces from the panel of local business moguls: Milwaukee Bucks president Peter Feigin; Jerry Jendusa, co-founder of business advisory and investment firm Stuck Inc., and founder and former owner of Emteq; and Jim Lindenberg, a serial entrepreneur and owner of Lindy Enterprises and Master Z’s. The new season will feature seven moguls, up from four in the first season, which will include newcomers Deborah Allen, owner/ operator of multiple area McDonald’s restaurants; Tina Chang, chief executive officer of Brookfield-based SysLogic Inc.; Nancy

Hernandez, founder of Milwaukee-based ABRAZO Multicultural Marketing and Communication; and David Gruber, founder of personal injury law firm Gruber Law Offices LLC, who has built his own local TV brand by popularizing the catchphrase, “One call, that’s all.” In addition to more panelists, the new season will feature more episodes, including eight traditional episodes and one that will highlight the success stories of entrepreneurs from the first season. In all, 24 aspiring Wisconsin entrepreneurs will be featured in season two. The show will follow the same formula as the first season. Three entrepreneurs per episode pitch their business concept to the panel of moguls, followed by the moguls vetting the potential of the ideas. After a discussion to determine which contestant will receive which prizes, the moguls announce

the winners. Greenberg touts the show as having a more nurturing and Midwestern environment than other business pitch events, noting that every contestant walks away with an award. Three prizes are available per episode, all valued at about $10,000, including mentoring, office space and a cash infusion. The first season featured several local entrepreneurs, including JoAnne Johnson-Sabir and her husband, Maanaan Sabir, who co-own The Juice Kitchen in Milwaukee’s Lindsay Heights neighborhood. The couple was awarded the $10,000 cash prize. Since the show aired, Johnson-Sabir has gone on to announce plans, in partnership with developer Juli Kaufmann, to create a hub for entrepreneurs in the former BMO Harris Bank branch damaged by the civil unrest in

Sherman Park last year. Other businesses featured last season included Oshkosh-based Snotco LLC, inventor of a paper strip that prevents paint bleeding; Physical Therapy of Milwaukee LLC, a physical therapy clinic on the city’s south side that offers English- and Spanish-speaking services; and theMINIclassy LLC, a Cudahy-based company that designs and produces high-end street clothes for children. In its first season, “Project Pitch It” held a 30-minute slot at 6:30 p.m. on Saturdays on Channel 12. The placement for the upcoming season will be announced closer to its premiere, Greenberg said. The show’s presenting sponsor is Cardinal Stritch University. This season, Steinhafels also signed on as a sponsor, providing its state-ofthe-art TV studio at the company’s Pewaukee headquarters complex for the show’s filming. n

biztimes.com / 13

BizNews

MY TA K E COMMERCIAL REAL ESTATE

Should the FCC get rid of net neutrality rules? Ajit Pai, the chairman of the Federal Communications Commission, recently unveiled plans to repeal the 2015 “net neutrality” regulations. Those rules impose utility-style regulations on internet service providers to prevent them from favoring their own services over competitors. n

AND DEVELOPMENT CONFERENCE

THANK YOU TO OUR SPONSORS & PARTNERS! On Friday, Nov. 17, about 350 area business leaders gathered, at the 15th annual BizTimes Commercial Real Estate and Development Conference, to learn more about the massive amount of economic development occurring in the I-94 corridor between Milwaukee and Illinois. Kelly O’Brien, the president and CEO of the Alliance for Regional Development was the keynote speaker. Following her remarks, Marquette University’s Dr. Mark Eppli led a panel discussion on development activity in the corridor. The panelists included Sam Badger of CBRE, Andy Bruce of MLG Capital, Ed Harrington of CenterPoint Properties and S.R. Mills of Bear Development. BizTimes would like to thank everyone who attended.

PAUL RYAN TAMMY BALDWIN

House Speaker

Senator

YES NO REACTION TO FCC PL ANS “There is no authority or need for the federal government to regulate the internet…Chairman Pai’s announcement that the FCC will roll back these regulations is welcome news.”

CONCERNS

SPONSORED CONTENT

Food & beverage is booming – just as expectations are changing by Tracy Meeks Food manufacturing is the biggest non-government industry in the United States. In fact, it is an $850 billion industry1 – no wonder there’s a cooking show on every network! Not only is this industry a source of pride for Wisconsin, but there is incredible capacity for growth and innovation for food and beverage manufacturers. This is great news for our economy in terms of employment (one in nine jobs in Wisconsin is related to agriculture1) and impact, but for business owners in this space to take advantage of the growth potential, it is essential to understand how consumer habits are transforming the industry.

Changes in demographic and consumer behavior

Tracy Meeks VP, Small Business Banking Park Bank Web: ParkBankOnline.com

You may be expecting to read a paragraph about the impact millennials have had on the food and beverage industry. While that is real, other factors like lifestyle and culture are adding to a diverse mix of consumer preferences and expectations. For example, consider the steady increase in eating alone, which comprises almost half of all dining occasions.2 Food companies have responded by creating products that cater to convenience and faster speed-to-table. Immigration and changing tastes also play a role here. For example, broader audience appeal of foods from different cultures has led to expanded production of Mexican and Asian cuisine. (By the way, millennials are leading this charge along with more culinary adventurous baby boomers.2) Have you assessed how these changing behaviors may impact your product line? Just as they say in investing that past performance does not guarantee future returns, relying on your tried-and-true segments to continue their traditional purchasing habits may not lead to future growth.

Food safety According to research by Deloitte, consumers have an expanded definition of “safety” to include greater transparency and health and wellness attributes. The attributes identified as important measures of safety include:

Social: facebook.com/ ParkBankOnline

• Free of harmful elements

twitter.com/ parkbankonline

• Clear information about ingredients and sourcing

linkedin.com/in/ tracy-meeks-619a063/ Contact: TracyM@ParkBankOnline. com (262) 827.5117

• Clear and accurate labeling • Fewer ingredients, less processing and nothing artificial • Nutritional content This illustrates a shift in perspective from near-term safety issues like toxins or contaminants to a more holistic, longer-term view. That doesn’t mean those short-term considerations have gone out the window. To the contrary – 42 percent of consumers surveyed rely on retailers to assume a greater role in managing food safety.3 I suspect there’s overlap in expectations of food manufacturers as well. Is safety a message you considered important only to your employees? It’s on the minds of consumers, so spreading the word about your own standards and practices could show how your product meets their expectations.

Healthy eating What started as a trend with millennials who wanted healthier, organic options has also caught on with baby boomers who see better eating habits as a way to stay healthy for longer and improve overall quality of life.2 Nutrition isn’t focused on just one aspect of health, according to Deloitte, but instead focuses on multiple factors like nutritional content and lack of preservatives or artificial ingredients that contribute to a healthy lifestyle.3 Different groups of buyers place each of these factors at varying priority levels. But what’s similar across these groups is their “willingness to pay a premium for ‘healthier’ products, particularly younger buyers, more affluent buyers, buyers with children, and those with a recent lifestyle change.”3 If the market is willing to pay for options they perceive as healthier, are there investments you can make to change your recipe, for example? Will you need to retrofit your facility to accommodate variations for special diets, such as gluten-free? Are there disclosures you’ll need to add to packaging as a result? Assess the cost versus benefit as you consider any changes.

Market fragmentation The above opportunities highlight that there is no longer a single, dominant driver of consumption impacting the food and beverage industry, but many. Add to this the availability of information via social and other digital media, and you have a more informed, selective consumer. The traditional means of sourcing, production and packaging must all evolve to answer several shifts at once. Perhaps as a manufacturer, it makes sense to target one aspect where you can dominate. If that’s your strategy, you may not need to produce at a mass volume, requiring less labor, storage and equipment. Or, you can diversify your product mix to target several segments according to their preferences with niche offerings. Wisconsin’s agricultural strength has provided a solid foundation for food and beverage manufactures to leverage as you innovate and grow in an evolving market. Keeping your eye on opportunities resulting from changes in demographics and consumer behavior, food safety, healthy eating and market fragmentation will allow you to expand your business for a sustainable future. What do these changes mean for your business? Contact me to discuss what’s on the horizon and how I can help at TracyM@ParkBankOnline.com. Sponsored Content

Sources: 1. FaB Wisconsin, “Food Strength in Wisconsin,” 2016. youtube.com/watch?v=MBXHCsxz1C8 2. Lauren R. Hartman, “What the New Food Demographics Mean for Food and Beverage” Food Processing November 7, 2016. foodprocessing.com/articles/2016/new-food-demographics/ 3. Barb Renner & Jack Ringquist, “Capitalizing on the shifting consumer food value equation,” Deloitte, 2016.

biztimes.com / 15

Real Estate

@BIZTIMESMEDIA – Real-time news

2 3

4 5 6

NU E

WHO OWNS THE BLOCK?

JON ELLIOTT OF MKE DRONES LLC

VE DA OO RW HA

HARWOOD AVENUE FROM LINCOLN PLACE TO WEST STATE STREET

7471 Harwood Ave. Property owner: JN & M LLC, registered to James Niemann Tenant: Anodyne Coffee

5 7515 Harwood Ave. Property owner: Many Blessings LLC Tenant: Tabal Chocolate

16 / BizTimes Milwaukee DECEMBER 11, 2017

2 7475 Harwood Ave. Property owner: JN & M LLC, registered to James Niemann Tenant: Niemann’s Candies & Ice Cream

6 7601-05 Harwood Ave. Property owner: Wauwatosa Redevelopment Corp. Tenants: Paulina Esthetics Boutique and Be Spectacled

3 7503 Harwood Ave. Property owner: Sustainable Properties Inc. Tenant: Yo Mama!

7 7609-15 Harwood Ave. Property owner: Wareham Properties ID LLC, registered to Mark Lulloff Tenants: Heinsight, Envision Consultant, and Magpie Jewelry & Metal Studio

4 7511 Harwood Ave. Property owner: Markerry Development LLC, registered to Mark Veth Tenant: Somerset Photography & Studio Share

8 7616 W. State St. Property owner: Wauwatosa Redevelopment Corp. Tenant: Ristorante Bartolotta

CORRINNE HESS

UGLY BUILDING: M A R Q U E T T E ’ S FORMER BUS TERMINAL

BROADWAY CONNECTION

OWNER: 511 N. Broadway LLC C/O Jeffers & Co. LLC DEVELOPER: Joshua Jeffers COST: $33 million

170430-12-JN

On the northern border of Marquette University, there is a 40-year-old building that needs more than a little TLC. Once home to Village Laundry, the one-story, 8,850-squarefoot building at 1222 W. Wells St. now has rusted metal along the top and broken blinds lining the windows. The property is also the former home of a Trailways bus terminal. The university will begin razing the structure this month, according to Chris Stolarski, university spokesman. “Long-term plans for the site have not been determined, but in the short term we will use the space to reallocate some surface parking as part of our ongoing campus master planning process,” Stolarski said.

Milwaukee developer Joshua Jeffers is planning a seven-story mixed-use building in downtown Milwaukee next to the Mackie and historic Button Block buildings. The project, to be called Broadway Connection, will be built at 511 N. Broadway, which is currently a parking lot at the northwest corner of East Clybourn Street and North Broadway. The building would include 9,400 square feet of first-floor retail and 108 apartments, according to plans submitted to the city. Engberg Anderson Architects is designing the building. Jeffers, president of Milwaukee-based J. Jeffers & Co. LLC, submitted plans to the city’s historic preservation commission in mid-November for the project, which is planned for a block of historic buildings.

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STORY COVER

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18 / BizTimes Milwaukee DECEMBER 11, 2017

Ross Winklbauer got a phone call recently from a young man who felt he and his co-workers needed union representation. The man said the company wasn’t treating them well and he hoped to change things. When he asked the man which company he was talking about, Winklbauer, a sub-district director with the United Steelworkers, recognized it. The USW had represented about five employees out of 70 there up until a few years ago. “We ended up having to unfortunately walk away,” Winklbauer said. The caller, it turned out, had worked at the company for about a decade but was never a union member because he didn’t see the need. “It was too many people like you that thought, ‘Why do I need a union? This company will treat me right,’” Winklbauer told the man, adding he would need to have at least 90 percent of the employees on board before they could talk. Union membership nationally has been trending down for decades and the declines have only accelerated in Wisconsin over the past several years. From 2000 to 2010, Wisconsin averaged an annual drop of 10,000 union members. Since 2011, the average yearly decline has been more than 22,000, including a drop of 83,000 from 2014 to 2015, when right-to-work became law. “If you solely look at the numbers, it’s depressing,” Winklbauer said. “But when you look at the activism that’s going around and the people we’re getting involved … once they start seeing the benefits and understand the benefits, we’ll be around.” With Gov. Scott Walker and Republicans in control of state government since 2011, there haven’t been many legislative victories for unions

to celebrate. Act 10, the law eliminating most collective bargaining for public unions, drew tens of thousands of protestors to Madison, but Walker ultimately won the related 2012 recall election. A Dane County judge put right-to-work on hold, but an appellate court stayed the ruling and ultimately sided with the state. The latest state budget repealed prevailing wage, which set compensation on state construction projects, and Walker used his veto pen to make it effective immediately. Act 10 was directed at public sector unions and Ken Kraemer, executive director of Building Advantage, a nonprofit that promotes the hiring of

Tim Tayloe, president of United Auto Workers Local 833, said of the reason for the strike, pointing in particular to wages around $10 per hour for some workers. The contract ending the strike was “a very good outcome,” the company and union are working well together and membership is growing, he said. Only a few workers have opted out of the union following the passage of right-to-work. “We are holding very strong,” Tayloe said. Essentially, the right-to-work law prohibits companies from mandating union membership as a condition of employment. In challenging the law,

“ It was too many people like you that thought, ‘Why do I need a union? This company will treat me right.’”

— Ross Winklbauer

union construction contractors and tradespeople, pointed out prevailing wage will affect union and non-union workers, but right-to-work has the biggest potential to weaken private sector unions over the longer term. “It takes numbers to make things happen and companies watch,” Winklbauer said. In Wisconsin, there’s been only one work stoppage involving more than 1,000 workers in the past five years. The month-long strike at Kohler Co. in 2015 included 2,100 workers in Sheboygan County. It ended with a narrower difference in pay for employees in different tiers, wage increases in each year of the contract and improved benefits. “It was a lot of moral things,”

unions argued right-to-work amounted to an unconstitutional taking of their property. The unions are required to represent non-members but cannot compel them to pay dues. A Dane County judge accepted that argument, but the state appeals court overturned it earlier this year. In another case, the exact timing of when a contract was ratified, whether it was before or after right-to-work took effect, has led to a legal challenge. Ten employees, helped by the National Right to Work Legal Defense Foundation, sued Allenton-based metal fabricator Maysteel Industries LLC and the International Association of Machinists District 10, arguing the contract was signed after the law went into effect and they can no longer

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Protesters fill the Wisconsin State Capitol during demonstrations over the Act 10 legislation.

be forced to be union members. That case is still pending in the U.S. District Court for the Eastern District of Wisconsin.

Changing contracts In theory, bringing union contracts in line with the right-to-work law only requires deleting language that requires union membership for employment when the contract comes up for negotiation. In practice, however, it weakens the union’s position and opens up the door to other changes. “The biggest thing we’re seeing now is com-

in others there are longstanding relationships that companies don’t want to hurt. “I’m not sure every employer was in favor of right-to-work as a concept,” said Anderson, an attorney who frequently represents companies in labor negotiations. “Others welcomed it with open arms.” Rich Meeusen, chairman, president and chief executive officer of Brown Deer-based water meter manufacturer Badger Meter Inc., was among those making the case for right-to-work. “From a moral perspective, I like the idea that my employees have a choice,” Meeusen said, arguing

“A union can bring good things, because they can bring structure, but they can also bring difficulties.”

— Rich Meeusen

panies, during negotiations, want to attack us. They’re like sharks with a little blood in the water,” Winklbauer said. Jon Anderson, managing partner of law firm Godfrey and Kahn S.C.’s Madison office, said in some cases companies have been able to parlay their stronger position into some concessions, but 20 / BizTimes Milwaukee DECEMBER 11, 2017

right-to-work results in a more content workforce. “A union can bring good things, because they can bring structure, but they can also bring difficulties,” he added, pointing to additional layers of bureaucracy. Badger Meter is also among the companies that have negotiated new contracts since right-to-work

was passed. Meeusen said negotiations were not dramatically different than in the past. The company did not try to squeeze something out of the union, he said, but added Badger Meter did ask for things like not automatically enrolling new members and not deducting union dues from paychecks. “I think that’s very reasonable,” he said. Dues collection is one of the areas in which Winklbauer said companies are seeking concessions, “even though it has nothing to do with right-to-work.” Right-to-work also increases the possibility of a non-union member receiving the benefits of a union without paying. In 2015, there were 30,000 more workers in Wisconsin represented by unions than there were union members, an increase of 9,000 from the previous year, according to the Bureau of Labor Statistics. Anderson said the possibility of “free loaders” can cause issues for employers who want a workforce focused on the company’s mission. “That’s a very real issue for unions and it creates friction among employees and that’s not good for the employer,” he said. Anderson said right-to-work has prompted unions “to sell their services” and “to be out there justifying to members and potential members.” Winklbauer said a union local lost seven

PERCENT

GALLUP POLLING: NATIONAL VIEWS ON UNIONS

YEAR

WISCONSIN UNION MEMBERSHIP (IN THOUSANDS)

Business backs right-to-work Right-to-work proponents argue passing the law makes Wisconsin more attractive to companies considering relocating to the state. “It’s a really important box that we need to be able to check in order to secure bigger projects,” said Jim Paetsch, vice president for corporate relocation, expansion and attraction at the Milwaukee 7 regional economic development partnership. Paetsch added companies are looking at more than cost and in many cases, not having right-towork will remove a state from consideration. “They’re looking, probably more importantly, at risk,” he said. “Unionized environments create uncertainty for employers.” In the 2016 Area Development magazine corporate executive survey, about 70 percent of respondents said both a low union profile and right-to-work were either important or very important site selection factors. Highway accessibility, availability of skilled labor and labor costs were the top factors. Paetsch said a number of factors went into Wisconsin landing the new U.S. facilities planned by Foxconn Technology Group and Haribo of America, but right-to-work was certainly a factor.

SOURCE: U.S. BUREAU OF LABOR STATISTICS

MEMBERS

members in one of the first contracts he negotiated after right-to-work became law. It was a wake-up call for the local, but the departures didn’t turn into a trend for other unions. “As far as our membership goes, we’ve held our numbers since right-to-work came in,” Winklbauer said. There are examples of the United Steelworkers adding members. Wauwatosa-based Briggs & Stratton Corp. went from 395 local union employees in 2013 to 510 this year, and Glendale-based Strattec Security Corp. is up 59 members, to 275, since 2011. Badger Meter’s union workforce at its Brown Deer headquarters, on the other hand, is down 17 percent since 2011. When right-to-work was being debated, Meeusen said passing the law could make the difference between Badger Meter sending work to Mexico or bringing it to Wisconsin. The bill signing ceremony took place at Badger Meter, and Meeusen said the company has since added 30 to 40 positions between its Brown Deer and Racine facilities. The jobs have included machining, welding and painting work previously done by outside vendors. Badger Meter is also planning to close its Scottsdale, Arizona facility and move about 35 jobs to Racine by March. The 32,000-square-foot facility has a National Institute of Standards and Technology-certified lab and provides precision machining and advanced assembly for the company. “Frankly, we would not have been doing all of that if Wisconsin were not a right-to-work state,” Meeusen said, adding the move might still have taken place, but the work would have gone elsewhere.

YEAR

Foxconn’s contract with the state, which sets up $3 billion in incentives in exchange for a $10 billion investment and 13,000 jobs, includes language that exempts the company from default in the event of an unlawful work stoppage or strike. The language isn’t in other Wisconsin Economic Development Corp. contracts and spokesman Mark Maley said it was part of negotiations. Beyond the major projects, Scott Manley, senior vice president of government relations at statewide chamber Wisconsin Manufacturers and Commerce, said right-to-work states generally have net in-migration and the law could help reverse Wisconsin’s trend of losing residents. “We believe Wisconsin will become a magnet for talent and that’s incredibly important

for employers,” he said. Manley said the current labor market already favors those looking for work, and having right-towork removes a potential barrier some employers faced in trying to hire. “If I’m a skilled worker, I can command a high wage and I don’t need a union in order to command a high wage,” he said, suggesting the prospect of part of a paycheck going to union dues was a deterrent for some. While union leaders say their membership is holding and they are working hard to demonstrate their value, Manley said some WMC members have seen a significant drop in those choosing to pay dues and others opting to decertify. “It’s still early,” he said, adding many unions may not have had to renew a contract with rightto-work as the law. biztimes.com / 21

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Apprentices in blueprint reading night school and day school instruction at Plumbers Local 75 in Milwaukee.

Union popularity rising At the same time that companies are looking to move to right-to-work states, unions are seeing a resurgence in positive public perception, returning to levels last seen before the Great Recession. A Pew Research Center poll in January found 60 percent of respondents held a favorable view of unions, up from 48 percent in March 2015. Gallup

construction, views are swinging back. “I know that we’ve always been proud to say that we’re union,” Kraemer said, adding it has become easier to talk to parents about health and retirement benefits available for their children in union construction, especially as college costs increase. “I think the mindset has changed a little bit.” Winklbauer suggested changing corporate and business cultures are contributing to the attitude

“For a while there it seemed like saying you were in a union, people looked at you like, ‘Why?’”

— Ken Kraemer

has found similar trends, with 61 percent approving of unions in an August poll. “For a while there it seemed like saying you were in a union, people looked at you like, ‘Why?’” Kraemer said. He added the coverage of Act 10 and right-towork helped shift attitudes against unions, but with the number of jobs available, especially in 22 / BizTimes Milwaukee DECEMBER 11, 2017

shift. He said in the past a company owner or president would come out on the shop floor and know employees’ names and talk with them. “They treated you decent, they treated you with respect, both union and management, and you felt good about the company you worked for,” Winklbauer said. “Today, in a lot of cases, unfortunately, that has gone by the wayside.”

He added people are realizing “how much they need a union” and union members are also realizing the importance of the support they have. “A lot of the people are seeing, through contract negotiations, what the companies are trying to do to them,” Winklbauer said. “If they’re doing this to us now with a contract, can you imagine what the heck they’d do to us without a contract or without a union?” One of the highest profile labor-management rifts in the past year came from Milwaukee-based Harley-Davidson Inc., although Winklbauer said nothing has changed at the local level. For years, the international steelworkers and machinist unions had a partnership with Harley that went beyond the traditional relationship of a company and a union. The partnership brought together the unions’ international leadership and company executives to talk about things at a high level. The relationship soured, however, in the aftermath of contract negotiations around 2010 that brought in a two-tier pay system, a casual workforce and the elimination of hundreds of union jobs, including 250 in the Milwaukee area, according to securities filings. Harley’s union workforce has continued to shrink, from 2,600 in 2014 to 2,300 in 2016. Winklbauer said unions are frustrated by the use of surge hiring that brings on additional casual workers in the beginning of the year but results in layoffs or furloughs for union employees later, when sales fall short of goals. In a statement, Harley said its business and the motorcycle industry have seen challenges in recent years and it is working to reverse those trends. “We’ve also had to make difficult adjustments impacting employees in the U.S. It’s been tough on our union employees given the number of down days and layoffs, which have had significant personal and financial impacts on them,” the statement said, adding the company is committed to working with union leadership to address issues. One of the final straws that led to the unions ending the partnership was Harley’s decision to

Gov. Scott Walker signs right-to-work legislation at Badger Meter’s Brown Deer headquarters.

build an assembly plant in Thailand. The company has similar operations in India and Brazil, where it sends the parts from its U.S. plants and supply base for final assembly. Harley says the new plant is necessary to avoid high tariffs and provide better access to Asian markets. “They’re telling us that’s not going to affect our workforce,” Winklbauer said. “It might not affect it day one, but somewhere down the line (it will).”

Training for the future Winklbauer acknowledged not all of the challenges faced by unions were brought on by outside forces. “We got complacent,” he said, describing how as a union steward or representative, he might only talk with his friends or someone having a problem, and not those who just come in to work and do their job. “Now what we’re trying to teach our locals is you’ve got to reach out to those people because they’re no longer forced to be a member.” Right-to-work is forcing unions to improve their own internal organizing, but the continued need for skilled workers in manufacturing is also creating opportunity for unions, Winklbauer said. Kraemer believes the union construction industry is a good example of the kind of labor-management partnership that is needed in more industries. The number of apprentices in the state is approaching pre-recession levels, with 11,728

active apprentice contracts as of Oct. 1, according to Wisconsin Department of Workforce Development data. Those active contracts are dominated by the construction industry, which has 14 trades with at least 100 apprentices and two with more than 1,000. Industrial trades, by contrast, have just six trades with more than 100 apprentices, led by tool and die at 312. “A big part of that industry turned their backs on the apprenticeship years ago when the man-

together on a regular basis.” As technology continues to advance, Winklbauer said it is important for unions to make sure their members are given the opportunity to get the needed training and skills. But he also said unions could be partners in attracting young people to their industries and getting them into apprenticeships. “The bottom line is you’ve still got to have employees and the only way I’m going to stay there is if you treat me with the respect that I feel I should

“We got complacent. Now what we’re trying to teach our locals is you’ve got to reach out to those people because they’re no longer forced to be a member.”

— Winklbauer

agement side said, ‘We’re not going to participate in that,’” Kraemer said. He said construction unions have the advantage of workers going from contractor to contractor with the same pay and benefits. It also helps that labor and management share in the cost of training the future workforce. “I don’t see any other industry that does it like we do,” Kraemer said. “We don’t just get together every three years to negotiate about wages; we get

deserve,” he said. Winklbauer also pointed to compensation as an important factor, arguing the difference between $15 and $20 an hour could be enough to pull someone into the industry, or that working for $18 an hour in a high-skill, high-pressure position with the possibility of layoffs makes $16 with better benefits and less stress look more attractive. “They can’t do it on the cheap anymore,” he said. n biztimes.com / 23

eat

hrough Capital ion T Do

BrightStar Wisconsin Foundation Supporting Job Creation and Entrepreneurship through Capital Donation

How does BrightStar support Job Creation and Entrepreneurship through Capital Donation? BrightStar Wisconsin Foundation, Inc. is the first, and is believed to be the only not-for-profit “Angel Investment” organization in the country. Other angel investment groups are almost exclusively for-profit and funded by investors, while BrightStar Wisconsin is a not-for-profit 501(c)(3) foundation funded by donors. It accepts donations into its foundation and uses those funds to take equity positions in for-profit early-stage companies, providing philanthropists a vehicle to add capital for economic development. The difference is that when companies in BrightStar’s portfolio have an “exit”, an event where new capital replaces the “angel” investors, the profits from those transactions comes back to BrightStar so it can re-invest the capital in additional early stage companies.

BrightStar’s Diversified Portfolio

Over the past four years, BrightStar has invested nearly $6 million in early stage companies all over the state and across a variety of industries, including healthcare technology, advanced manufacturing, construction, software, food & beverage, aviation and education. A diversified portfolio is critical because early stage “angel” investing is inherently risky. Time will tell on how BrightStar does down the road, but as of today, 35 of the 37 companies in their portfolio are still in business! History would suggest that a number of these companies won’t be successful, but the ones that are successful can be wildly transformative in both capital returns and regional job creation. BrightStar is excited about the potential of their portfolio, and proud of their technical, market, and employment advancements. It anticipates 2018 to show continued and even stronger evidence that its mission can effectuate positive economic change throughout the state. Most of the companies will have multiple years of history to show the power of early stage in the returns it can generate and the quality jobs it can create throughout Wisconsin. BrightStar anticipates the first “exits” in 2018 and will share those stories when they happen.

Bringing more capital into this early stage investment space is vital. Not only does it help support job creation, it also provides entrepreneurs with the funding that they need to start and grow their businesses in Wisconsin. Without state-based funding sources, entrepreneurs are lured to other parts of the country by states that love to tap into the wealth of ideas and intellectual property being generated by our universities, technical colleges, and general populace. BrightStar’s mission is to keep the best and brightest in Wisconsin so that their innovative ideas can be quickly commercialized and rapidly scaled to create large numbers of high quality jobs in our great state.

BrightStar co-founder inducted in the Wisconsin Tech Council’s ‘Investor Hall of Fame’

Tom Shannon, the architect of BrightStar’s unique philanthropic venture, was inducted into the Wisconsin Investor Hall of Fame at the Wisconsin Early Stage Symposium in Madison on November 15th. Tom is a BrightStar founding donor who also volunteers his time as BrightStar’s President & CEO. Mr. Shannon was selected by a panel of ten judges and joins two fellow BrightStar founding donors that were inducted into the Hall of Fame in previous years. They are George Mosher, the founder of National Business Furniture and a Milwaukee area “super angel” investor, and Jeff Rusinow, the founder of Silicon Pastures and an active angel investor. All three of these gentlemen are members of BrightStar’s investment committee. Their collective knowledge, coupled with that of the other members, gives BrightStar an edge when it comes to making successful investment decisions.

To find out more information on BrightStar’s portfolio companies, go to www.brightstarwi.org/how-we-invest/portfolio.

BrightStar relies on donations to fuel its mission

BrightStar celebrated its fourth anniversary earlier this year and is pleased with its accomplishments, but by no means is their work done. There are many more early stage companies that are going to need angel investments to give them the capital that they need to launch and grow their businesses in Wisconsin. This is where donors come in. BrightStar has been successful in finding other foundations and wealthy individuals that see the value in the foundation’s Wisconsin focused, job creating mission, but the need for additional capital in this early stage space is critical. To find out about its donors and to learn how you might be able to assist BrightStar in its unique philanthropic mission, please visit, www.BrightStarWi.org, and click on the “For Donors” link. Once there, please take the time to watch the “Donor Appreciation Video” to see what the entrepreneurs have to say about BrightStar and its donors. Also review the 2016 Annual Report for a list of donors and profiles on its portfolio companies. You can be a part of creating a thriving innovative early stage ecosystem in Wisconsin both now, and for future generations.

Various members from BrightStar’s board, investment committee and staff. Left to right: Jeff Harris, Todd Sobotka, Mark Burish, Dan Matola, Adam Berger, Lorrie Heinemann, Fred Raasch, Pam Evason, Andy Shrago and Tom Shannon

BrightStar Wisconsin Foundation, Inc. 710 N. Plankinton Avenue, Suite 340 Milwaukee, WI 53203 www.BrightStarWi.org 414-224-6000

Special Report LEADERSHIP

SPONSORED BY:

Area business leaders share their best ideas Highlights of 90 Ideas in 90 Minutes By Andrew Weiland, staff writer NINE LEADERS OF MILWAUKEE-AREA businesses and nonprofit organizations shared 10 of their best ideas and strategies for success in BizTimes Media’s inaugural 90 Ideas in 90 Minutes event. The event was held on Thursday, Dec. 7, at Potawatomi Hotel & Casino and was sponsored by Concordia University Wisconsin. At the event, each of the nine speakers was given 10 minutes to present his or her 10 ideas, which provided insights on their secrets to success for themselves or their organizations. Then the speakers participated in a Q&A with the audience. The speakers were: • Jerry Jendusa, co-founder and partner at Stuck LLC • Vincent Lyles, president and chief executive officer of the Boys and Girls Clubs of Greater Milwaukee • Marsha Mather, owner of Laacke & Joys • Ugo Nwagbaraocha, president of Diamond Discs International

• Marie O’Brien, president and CEO of Enterforce • Rick Schlesinger, chief operating officer, Milwaukee Brewers • Vince Shiely, partner at Lubar & Co. • Mary Dowell, founder and CEO of MJ Dowell & Associates • Jim Mueller, president of Mueller QAAS Following are one of each of the speakers’ ideas presented at the 90 Ideas in 90 Minutes event. To see all 90 of their ideas, go to biztimes.com. JERRY JENDUSA: “SINGLE PAGE PLANNING.” “Business planning does not have to be all that complicated. Writing plans and going through strategic planning is one part. Jendusa The most important element is the ability to get it all on a single page and then

having the ability to make the plan come to life. The single page document turns into your execution plan. What are we doing over the next 30, 60 and 90 days? How does this impact our updated forecast? What major must-do, can’tmiss items should we tackle? Plan execution enables a current state to change into a future state of your business and affords you the opportunity to grow.” VINCENT LYLES: “CO-WORKERS NEED TO HAVE MORE DINNERS THAN LUNCHES TOGETHER.” “While lunch between colleagues and co-workers is a Lyles great way to build trust and to support one another, the general timeframe of lunch is usually one hour or less. This means there isn’t a lot of time to get to know one another. Moreover, if it is a public setting, people are less comfortable sharing their thoughts or biztimes.com / 25

true feelings about a situation affecting their work or home life. I would suggest co-workers get together for dinner on a regular basis. Dinner is usually done off-site and the parties may have more time to get to know each other and to discuss in greater detail how they can support one another and their work environment.” MARSHA MATHERS: “PEOPLE MAKE COMPANIES.” “My husband and I purchased Laacke & Joys almost 22 years ago and implemented some basic fundamental philosophies. Mathers One is that people make companies and putting them in the right positions and giving them the freedom to be successful in those positions is the most important element of sustainable success. Our task was unique, as Laacke & Joys is both a retail and manufacturing company. Each division has its own challenges, major initiatives and differences; however, the underlying common denominator, that people make companies, is that we empower them to be decision-0makers and make them accountable under our TPEE Plan, which is Think, Plan, Evaluate and Execute. It is a methodology or framework that allows for successes in both divisions of our company.” UGO NWAGBARAOCHA: “INVEST IN THE COMMUNITY.” “This is truly a global economy and Milwaukee is a great city. The humble success I have achieved is based firmly Nwagbaraocha on the role models demonstrated by my parents, who immigrated to Milwaukee over 50 years ago from Nigeria, and achieved respective nursing and doctoral education degrees while raising a family, and helped found thriving community- and religious-based organizations. Even in the 1960s, my parents had a global perspective and understood the value of the City of Milwaukee, a city of values, hard-working town (with) employment opportunities and great place to raise a family. “My parents demonstrated and established the importance of family, education, hard work ethic and paying it forward. “There is a civic and global business perspective imperative to pay it forward. Increase opportunities to retain talent and access for business opportunities. Provide the same positive role models, demonstrate the importance of education and work ethic, value of family, creation of employment opportunities for our new generations and less advantaged. 26 / BizTimes Milwaukee DECEMBER 11, 2017

Our continued investment in the community allows the best utilization of our resources and empowers the city of Milwaukee to be a first-inclass, globally competitive city to raise families, retain talent and increase the opportunities for all businesses.” MARIE O’BRIEN: “FOLLOW YOUR PASSION; DON’T SETTLE.” “Whatever gets you out of bed in the morning is most likely to keep you fueled throughout O’Brien the day and into your future. What do you believe you can and will contribute to this economic engine called ‘work?’ Is it true that if you love what you do, you’ll never work a day in your life? “As a young professional, I observed and emulated successful individuals. I assessed, reacted, took action, made mistakes, learned lessons – or not – and then determined the best practices and norms for myself. My path revealed the good, bad and the ugly. The good was business that was progressive, innovative, productive and mutually beneficial for the constituencies. The draining part of my journey was the bad and the ugly. The bad and ugly often called into question unsavory business practices, absence of values, broken processes or old methodology. “When reflecting at the crossroads of a decision, simply attach your values and choose what really makes you tick. Then, prepare to be energized! “Find meaning in what you do and grab the opportunity to achieve goodness, and maybe even greatness.” RICK SCHLESINGER: “A DAILY WALK.” “At least once per day, I leave my desk and tour our offices. I try not to have an agenda or a specific destinaSchlesinger tion. Instead, I want to talk with our staff. I have found that some of our best ideas come from informal interactions. These daily walks put me in touch with our most senior staff, but also with those who are early in their career paths. Like any business, we need creativity to come from everywhere. If we don’t circulate, I believe we stifle that process. I encourage all of our senior staff to be open to ideas from atypical sources. That can be junior staff, members of other departments, customers or next door neighbors. And I encourage them to go make those conversations happen. Don’t wait for them to appear in your office.”

VINCE SHIELY: “YOU ACCOMPLISH NOTHING ON YOUR OWN.” “If I have accomplished anything, it is because my God, my family, my close friends, my Shiely mentors and the exceptional management teams I have worked with in my career made it possible. Awesome people make great value-creating organizations. The most significant organizational challenge in a business is rarely working harder; it’s working together. Getting the right people on the bus and developing a productive culture that makes the organization greater than the sum of its parts is how you win. Culture trumps strategy!” MARY DOWELL: “A LITTLE HUMILITY GOES A LONG WAY.” “Leading with humility means understanding that mutual respect is the foundation of efDowell fective leadership. A poor leader sees and treats people differently, showing respect only to those he deems worthy of it. A true leader treats everyone with respect, thus earning the respect of others. There’s a difference between a leader and a boss. While both are in charge, a leader shares the spotlight and is comfortable crediting others. While it might seem counterintuitive, being humble takes more confidence than basking in glory. Employees will appreciate it, and clients will, too.” JIM MUELLER: “KNOW YOUR PURPOSE.” “If someone came up to you and asked, ‘What is your purpose in life?’ have an answer! Like Vince Lombardi, mine is God, Mueller family and work – with passion and determination. Over my lifetime, the values of my parents, close relatives, teachers, mentors and friends have molded me. Currently, my purpose is focused on three areas: 1. Promoting a very valuable asset we have in this community: Higher education. As a community, we need these human resources to work and play here. 2. We need the brightest women to remain in this community and have professional acceptance in our community. This can be done with an attitude adjustment of the leaders who control the economic strings in our community, or a real success story like Epic locally. 3. Affordable health care. We need a combination of health care and business leaders to be transparent about this issue and act in a positive and effective manner.” n

Special Report BANKING & FINANCE

Associated and Bank Mutual prepare for merger How analysts expect the integration to play out By Molly Dill, staff writer WHEN GREEN BAY-BASED Associated Banc-Corp announced it would acquire Brown Deer-based Bank Mutual Corp. for $482 million in July, there were still a lot of unknowns about how the companies would be integrated. In the months since, public filings have given a clearer picture of the advantages and synergies the banks expect to gain from the transaction. While the deal is still awaiting regulatory approval, if all goes according to plan, it is expected to close in the first quarter of 2018. Among the advantages customers can expect is the larger size of the institution, which combines the largest bank based in Wisconsin with the largest bank based in the Milwaukee

Bank Mutual Corp.’s Brown Deer headquarters.

market. Associated Bank has $30 billion in assets and 1 million customers in eight states, which significantly increases the size and adds new products for customers of Bank Mutual, which has $2.7 billion in assets and 120,000 customers in Wisconsin and Minnesota. “It really builds their scale and it enhances their presence in some markets, being Green Bay, Milwaukee… which are relatively attractive markets,” said Kevin Reevey, senior vice president, senior research analyst at Great Falls,

Montana-based D.A. Davidson Cos., who covers both Associated and Bank Mutual. “It allows Bank Mutual’s customers to have access to a broader suite of products at Associated, plus being a slightly bigger institution, Associated can do more in the way of larger loans for their business clientele.” And with the acquisition of a bank with an overlapping network, Associated will be able to gain 45 percent cost savings, primarily by consolidating 36 redundant branches that are within

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Associated Banc-Corp’s Milwaukee offices.

2.2 miles of each other and eliminating that overhead. Associated released a list of the branches that are expected to close, many of which are in the Milwaukee market, in September. Philip Flynn, president and chief executive officer of Associated Bank, said in a July interview with BizTimes the Bank Mutual headquarters building in Brown Deer will eventually be vacated. Representatives for Associated Bank and Bank Mutual declined to comment for this story. “This is strategically interesting for them. It’s an in-footprint transaction, it helps them shore up their presence, particularly in Milwaukee,” said Emlen Harmon, managing director of equity research at San Francisco-based JMP Securities LLC, who covers Associated. “In-footprint transactions come with a fair amount of efficiencies that help make the deal financially compelling.” The rash of new development in downtown Milwaukee over the past couple of years is good news for business lending, and should position Associated to offer clients larger loans, Reevey said. “Milwaukee is actually a very attractive market,” Reevey said. “It’s actually experiencing reurbanization, especially in that downtown area.” And Associated made a smaller acquisition, of Oak Brook, Illinois-based wealth management firm Whitnell & Co., in October that will help it gain market share in the wealth management niche locally, he said. “Now they’ll be able to better service their customers, but those customers of Bank Mutual as well, and also it will allow them to build fee income,” Reevey said. Other areas in which Associated Bank could try to gain an advantage are insurance, trust and treasury services. “I think the company sees some opportunity to grow some of these fee-generating businesses that Bank Mutual wasn’t as strong in,” Harmon said. Simply becoming a larger entity will help when it comes to growing overall market share, 28 / BizTimes Milwaukee DECEMBER 11, 2017

but it’s not an easy road, he said. “Having a greater critical mass could help them to some degree,” Harmon said. “Banking is very competitive right now, so market share is a tough game. They would certainly like to achieve that. They’re going to have to work for it.” While there are likely to be some branch consolidations and layoffs, Harmon doesn’t anticipate sweeping reductions in the market. Associated has said it can reassign many of the affected employees to open positions elsewhere in the company. “Associated is cognizant of maintaining as much of their presence in Milwaukee as they can,” he said. “This is about them developing a greater presence there, so in terms of having personnel or offices, etc., I think they would probably care more toward keeping a greater presence than trying to pare things more meaningfully.” After the acquisition closes, the bank is expected to take six months to a year to complete the integration, the analysts said. During that time, Bank Mutual’s stock will be delisted from the NASDAQ, the redundant branches would likely be closed and the signage would be switched over to Associated Bank. The systems conversion is expected to take place in the third quarter. Since Associated hasn’t made a bank acquisition in several years, analysts and shareholders will focus on the ability of management to gain value from the transaction. One potential impact of the merger is a shift in the dynamics and market share among smaller banks in metropolitan Milwaukee. That sort of impact was seen after the 2011 acquisition of M&I Bank parent Marshall & Illsley Corp. by BMO Financial Group. At the time, Milwaukee-based M&I was Wisconsin’s largest bank. Bank Mutual, U.S. Bank and PNC Financial Services Group told BizTimes then they were working to gain Milwaukee customers and executives from M&I in the fallout. While Associated and Bank Mutual work to integrate their companies, smaller banks may

again attempt to take advantage of dislocation in the market and try to poach some customers and key lenders and relationship officers. “Anytime there’s an acquisition in the market, it always results in a lot of the smaller banks trying to go after those customers,” Reevey said. “I think Associated is going to be focused internally on keeping those customers, making sure they’re happy, and also the employees. “It’s going to be competitive among the smaller players to kind of get bigger in that market.” Among the banks that could be jockeying for that market share are First Business Financial Services Inc., Old National Bank, Town Bank parent Wintrust Financial Corp., TCF Bank and Johnson Financial Group Inc., he said. “Old National, they’re not that big (in Milwaukee) but I know Old National is very acquisitive. I wouldn’t be surprised if they try to buy one of the smaller players in that market,” Reevey said. “First Business Financial Services, they’re a commercially-focused bank. They don’t do acquisitions. Their growth is all organic. But I know they’ve been pretty active in trying to build their commercial loan book.” “When there is an acquisition, you do see some institutions try to win business from whichever the acquired institution was, whether that’s trying to win lenders or bring customers over. The competition tends to be centered more around existing players,” Harmon said. SEC filings have also indicated some of the banks’ executives will depart in the integration, including David Baumgarten, who will receive a $2.6 million payout through his change in control agreement. According to the company’s filings, “The officers of Associated holding office immediately prior to the effective time will serve as the officers of the surviving corporation from and after the effective time of the merger.” Bank Mutual also has employment agreements that include change in control provisions for chief financial officer Michael Dosland, chief operating officer Joseph Fikejs, chief credit officer Christopher Mayne, director of commercial banking Greg Larson, senior vice president and director of investment real estate Patrick Lawton, director of human resources Terri Pfarr and senior vice president and director of retail banking and sales Kimberlie Weekley. Pfarr has been informed her employment will terminate at the end of 2018. In October, Associated Banc-Corp terminated the company’s change of control plan for its CEO and executive officers. The company’s compensation and benefits committee is in the process of developing new change of control agreements for the executive officers, according to an SEC filing. n

Special Report BANKING & FINANCE

Tim Keane talks to Golden Angels investors and advisors about the potential of an entrepreneur pitch at an open deal screening during Milwaukee Startup Week.

Becoming an angel investor Golden Angels guides next generation with advisor program By Molly Dill, staff writer LAST YEAR, Brookfield-based Golden Angels Investors LLC began adding members to its group that are not actually investors. But they hope to be angel investors one day. The new membership group is called Golden Angels Advisors and is comprised of about 80 young and mid-career professionals who want to learn more about investing in startup companies. They may eventually join the 105 investors currently active in Golden Angels Investors. Tim Keane, director of Golden Angels Investors, started the program because he wanted to

help more people become angel investors. He was inspired by the Sequioa Scouts Program, through which startups that have been funded by California venture capital giant Sequoia Capital identify and invest smaller amounts in pre-seed and seed technology startups. “I think that it’s a great way to have a next generation of people see what you’re doing,” Keane said. Under SEC rules, in order to become an accredited investor, an individual must have a net worth of at least $1 million, excluding one’s primary residence, and annual income exceed-

ing $200,000 for each of the past two years, or $300,000 combined income with a spouse. Golden Angels Investors is a member invitation group, owned and governed by its members. New applicants must have a member advocate and self-certify that they are accredited investors. New members are admitted to the partnership. “Advisors are people who are interested in entrepreneurship broadly speaking and aren’t investors,” Keane said. “Most often, these are young to mid-career people who are really interested in what we do and want to see it in person and learn and participate and most of the time they aren’t accredited.” When Golden Angels Investors hears a pitch from a startup, it conducts due diligence with the help of the Advisors, drawing on the whole group’s knowledge in different industries and their entrepreneurship experience. If it decides to invest, a new LLC is formed and only the members who choose to invest in the deal own it. That also makes it easier for entrepreneurs, since they only have to deal with one investor entity. “With us, we’re all making individual decisions,” Keane said “In a venture capital firm, people put their money in and the venture capital guy makes the decisions. It’s a great model, but that’s not what we do. I like entrepreneurs and seeing growth happen.” Which isn’t to say angel investing is easy. It’s a risky venture to bet on early stage startups, but it can also be high reward to get in on the

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ground floor. “The one part of this that’s financial is fairly important and let’s call that recycling,” Keane said. “You have to get a return just to get enough money in the pot to keep doing it.” From 2003 to October 2016, Golden Angels had 13 exits. Of those, four returned more than the original investment, five returned less and four returned nothing. It makes for a 17 percent rate of internal return. The deal screenings aren’t intense and investor-focused like popular startup investing TV show “Shark Tank,” Keane said. The group hears entrepreneurs’ pitches and then discusses their potential and asks questions about the companies. “The rewards are not always just financial,” Keane said. “The rewards are a network of people and building relationships. It’s foolish, I think, to be an angel investor who goes around growling at people. The reality is that we’ve seen 3,500 companies since 2002. We’ve tried really hard to offer something to everybody, not just, ‘Hey thanks, we’re not interested.’” That hands-on nature of the Golden Angels Investors is what attracted several of the Advisors.

Briana Riordan, 33, general manager at Milwaukee-based RCB Awards, was one of the first Golden Angels Advisors in February 2016. She took Keane’s courses on new venture formation and venture growth while in the MBA program at Marquette University. He called her up when he was starting the advisor group. She likes getting the opportunity to tag along with the Golden Angels, see many of their communications and the pitch decks that entrepreneurs submit, and assist with due diligence research. “It’s just a really valuable experience to be part of listening to how they think about deals and how they think about markets and opportunities and what they find interesting and important,” Riordan said. Some of the advisors look at the group as a hobby, or see it as a more exciting and tactile form of investing. In the future, if RCB were to sell a division, Riordan said she might become an investor. “There’s this opportunity to really participate and be a partner and help a business grow rather than just make an investment in something like the stock market and kind of

hope that it works out,” she said. “You have a little more stake in it and more ability to affect the outcome.” Sam Klietz, senior vice president, global sales lead at Intermedix, is also a Golden Angels Advisor. He also took Keane’s entrepreneurship courses, and then worked at a company Golden Angels invested in, EMSystems. “(Keane) wanted to create a funnel of investors that understood the program and how things work, to get them more interested in investing,” Klietz said. Klietz, 39, said he could technically be an investor but wants to watch the group for a while before jumping in. He’s enjoyed offering his advice to some of the entrepreneurs using his skillset, learning why the Golden Angels pick an investment or don’t, and is becoming more comfortable with the process, he said. “There’s a certain amount of energy there that you don’t get from traditional investing,” Klietz said. “Angel investing is interesting, as well, because you can actually impact, no matter how successful your investment might be. There’s very few other investment opportunities out there that you can play such a large role.” n

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Strategies GENERATION Y

who are asking for it, there are a number of questions for you to consider:

Working outside the walls How to handle issues with workplace flexibility By and large, the digital age in the contemporary workplace is stimulating new demands of today’s workforce. The more our culture can adapt to the needs of people, the more organizations will attract, train, retain and sustain talent. Due to the advances of both technology and automation, there is no longer a need to operate 40 to 50 hours a week in an on-site office space – unless, of course, the nature of the position requires on-site presence. On the other hand, until there’s a shift in acceptance within organizations themselves to adapt to the contemporary wishes of the emerging workforce, we may not see requests for flexibility being granted. Recently a member of our staff had the opportunity to sit down with Katie Felten, co-founder of Strategy House. At a high level, the company’s broad focus is providing marketing services for manufacturing companies. Strategy House offers a variety of services, including blogging, social media and digital advertising. According to Katie, Strategy House operates nearly 100 percent remotely. This sets it apart from many typical marketing companies. Katie expressed that in many ways, people just have to be trusted to get their work done. The delegation process is somewhat of a “learning curve” for the organization, but the work is well-received by its clients. She also says many clients are probably unaware that there isn’t a “traditional structure” in place. As you look for ways to allow more flexibility for individuals

What kinds of challenges can we foresee our employees experiencing? Though employees are looking for flexibility, do not mistake this for a disinterest in clarity of expectations and accountability. It can be easy for employees to become distracted by other things throughout the day. Along with this, however, many organizations have seen productivity increase when employees are allowed to work from home and determine the ebbs and flows of their day. Being distracted during the standard business hours can be okay if the employee works early or late. This can be an opportunity for employees to produce work at their best times. What kinds of challenges will leaders experience? Many leaders assume, perhaps fairly so, that having people working remotely will make their jobs more difficult. After all, they cannot rely on “I see you; therefore, you must be working.” Regular conversations and monitoring of work completion (along with quality of work) needs to be woven into the leader’s time to ensure everyone is on the same page and, also, that work is progressing on schedule. Additionally, leaders will need to respond to challenges posed by others (i.e., “Why does she get to work from home and I can’t?”). In another example, an employee of an organization came in to work every day at 6 a.m. and asked to leave at 4 p.m. The vice president of her department declined, saying, “You have to stay until 5 like everyone else, because if they see you leave, they will want to leave.” Interestingly, she was the only one coming in at 6 a.m. If leaders do not know what they would say to others, they often avoid the issue and simply say, “No.” How do we respond to employees whose roles do not allow for flexibility, especially when they see others around them being granted this flexibility? Affirm, then redirect! “I understand your

confusion or disappointment about this. And it’s fair to feel this way. Unfortunately, your role does not allow for this. I’m sorry.” How do we respond to employees who are asking for flexibility, but who are underperforming? Again, affirm then redirect. “I’m glad to know this is of interest to you. We should talk about what needs to happen so that we can discuss this option for you.” This is an area where individual conversations and agreements are as important as the philosophical discussions related to where people do their work. Affording employees the opportunity to work flexible hours and in flexible locations is still a struggle for many companies and for many leaders within these companies. I encourage you to be listening to how this theme is bubbling up from your workforce. At the very least, every organization should have an aligned stance on this issue. And leaders should be aligned around the company stance, not around their own personal opinions. n

ALETA NORRIS Aleta Norris is a co-founding partner of Brookfield-based Living As A Leader, a leadership training, coaching and consulting firm. You may send questions to her at anorris@livingasaleader.com.

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Strategies WORKFORCE DEVELOPMENT

»» Wisconsin’s universities in 2016 graduated just two new teachers prepared to teach computer science.

High-tech educators Wisconsin schools need more computer science teachers Self-driving cars at the University of Wisconsin-Madison – one of 10 locations the U.S Department of Transportation designated as a proving ground for automated vehicle technologies – are just one part of the technology revolution we can’t afford to miss. Sensors are providing farmers with data about the effectiveness of different feed types and fertilizers. Humber River Hospital in Toronto is using robots to sort medication and deliver food to patients. The City of Chicago used predictive data analytics to improve by seven days the time it takes to discover restaurants with critical food inspection violations. Critical to this potentially marvelous and slightly scary future: Our kids need the skills to thrive. Autonomous vehicles, precision agriculture, and smart cities and hospitals all require computing know-how – and a lot of our kids, and even more of their teachers, haven’t got enough of it. Nationally, 71 percent of all new science, technology, engineering and math jobs are in computer science, yet only 8 percent of STEM graduates are in computer science, according to Code.org, a nonprofit dedicated to expanding computer science. Code.org also reports: »» There are fewer AP exams taken in computer science in Wisconsin than in any other STEM subject area. »» Only 60 Wisconsin high schools (12 percent of those with AP programs) offered the AP Computer Science course in 2015-’16. 32 / BizTimes Milwaukee DECEMBER 11, 2017

So we need to rev this up. Two current efforts have great potential to help: TEALS and CS Discoveries. TEALS was started in 2009 by Kevin Wang, a Microsoft software engineer. It partners computer science industry professionals with high school teachers to support introductory and Advanced Placement computer sciences classes. Because TEALS is funded by Microsoft Philanthropies, the only cost to the schools is stipends for their volunteers. The big winners are students, who learn computational thinking, problem solving, programming and computer science concepts – all of which are applicable to a wide range of today’s and tomorrow’s jobs. TEALS has produced dramatic results. In 2009, the year Wang started the program in the Seattle area, about the same number of high school students – 229 in Wisconsin and 255 in Washington – took the AP Computer Science exam in each state By 2016, that number had grown to nearly 600 in Wisconsin, but exploded to nearly 2,000 in Washington. About half of those 2,000 Washington kids were at schools participating in TEALS. Thirteen Wisconsin high schools began participating in TEALS this fall; nine are in northeast Wisconsin, where Microsoft president Brad Smith went to high school. Three are in Milwaukee and one is near Fond du Lac. The Milwaukee Institute is helping TEALS grow its presence in Wisconsin. CS Discoveries is a computer science survey course supported by Code.org. The class takes a broad view of computer science, covering topics like programming, physical computing and data. Eleven Milwaukee Public Schools middle schools started offering CS Discoveries this fall. Teachers prepared for the curriculum by attending a five-day workshop in Philadelphia during the summer and four workshops held in Milwaukee on Saturdays during the school year. Dennis Brylow, an associate professor of

computer science at Marquette University and the point person for Marquette’s regional partnership with Code.org, is organizing that effort. Brylow, who co-chaired the State Superintendent’s Computer Science Standards Writing Committee, is highly motivated by the idea of providing access to computer science education to more students in Wisconsin. “What we have right now is a situation where really only the most affluent suburbs have access to computer science teachers and computer science courses,” Brylow said. That means just a narrow portion of Wisconsin’s students ever consider studying computer science at a two-year or four-year college or technical school. Students who’ve never been exposed to computer science often fail to realize it’s a field rife with opportunities to do cool stuff like write software, analyze security breaches, program and operate drones, repair networks and yes, develop video games. “Computer science is about using the power of computers to solve human problems,” Brylow says. Hopefully, TEALS and CS Discoveries will help many more Wisconsin kids realize that – and realize really big dreams, as well. n

KATHLEEN GALLAGHER Kathleen Gallagher is a Pulitzer Prizewinning writer and executive director of the Milwaukee Institute, a nonprofit that supports advanced technologies and high-growth businesses to help our region thrive. She can be reached at kathleen@mkei.org.

Tip Sheet Adapt to attract talent in the gig economy

n a recent Ernst & Young article, Nancy Altobello, global vice chair of talent at EY, writes about the negative impact of the “age of disruption” on companies’ ability to attract and retain talent.

She discusses the “gig economy” – the employment trend revolving around freelance projects and flexible work hours – as a barrier for companies searching for skilled talent. The article cites a 2015 survey by Upwork and Freelancers Union reporting that 34 percent of the U.S. workforce freelances. Altobello says the accelerated boom in technological innovation is the reason for this drastic change in the labor market and companies of all sizes must realign their talent priorities. She suggests three ways to navigate talent challenges amid market disruption: 1. Learn to love flexibility Flexibility is a major attraction for freelancers and the self-employed. From remote work opportunities to seasonal work schedules, flexibility offerings for employees will help companies directly compete with the gig economy for skilled talent.

Faces of Family Business Family businesses play an enormous role in the southeastern Wisconsin economy. Studies have shown that family-owned businesses rank high in revenue and employment growth. Why? Most family businesses have a longer-term view of investment, they’re more stable, and inspire more trust and commitment in their employees. Let us highlight your family business. Reserve a “Faces of Family Business” sponsored profile today!

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2. Adopt an “intrapreneurial” spirit Ernst & Young’s “predictable time off” practice – a shared calendar on which team members post non-work conflicts they have on evenings and weekends – is one way the company encourages its employees to be “intrapreneurial,” entrepreneurial-minded within the larger organization. A company that encourages innovation by enacting an “intrapreneurial” spirit fosters productivity and attracts new talent. 3. Develop a stronger sense of purpose Know your company’s purpose and then follow a business strategy that reflects that purpose. A sense of purpose will guide and validate every new business initiative and strategy. Open communication with employees will help them also develop a sense of purpose which, in turn, will encourage them to advocate for the company and recruit new talent. n

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BizConnections PAY IT FORWARD

Developer gives back to his alma mater Kendall Breunig Principal Sunset Investors Nonprofit served: Milwaukee School of Engineering Service: MSOE Corporation member, regent, philanthropist

38 / BizTimes Milwaukee DECEMBER 11, 2017

involved with as a student. “He’s a huge contributor to us,” said John Walz, president of MSOE. “Not only because of his success as a businessperson in the community and what he’s done, but also as a tireless servant for our university.” Walz said he relies on Breunig’s expertise in the real estate arena. “We’re always getting contacted about real estate opportunities by people who might want to sell us a piece of land,” Walz said. “And he’s the kind of person I can call up and say, ‘What do you think about this?’ and at the drop of a hat, he will go look at it and give his honest assessment.” Breunig said he gives back to see the university continue doing what it does best – producing engineers. “We need more engineers,” he said. For his contributions, Breunig received an honorary doctor of engineering degree from MSOE and delivered the keynote address during the university’s fall commencement in November. “He’s really committed to this place,” Walz said. “He really loves MSOE.” n

LAUREN ANDERSON Reporter

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LILA ARYAN PHOTOGRAPHY

FOR KENDALL BREUNIG, it all started with a construction economics class at the Milwaukee School of Engineering. It was there that Breunig, an architectural engineering major, learned about real estate and investment economics. Six months after he graduated in 1979, he started buying income property. Today, Breunig is principal of Franklin-based Sunset Investors, a group of real estate development entities that develops and operates condominiums, multi-family residential buildings, commercial offices and warehousing. And while it’s just one hat among many for Breunig – whose resume includes president of consulting engineering business Breunig Engineering Inc., managing member of EZ Self Storage LLP, part-owner of Verona-based pharmaceutical and specialty chemicals business Coating Place Inc. and owner of Pritzlaff Events LLC – he credits the MSOE class with placing him on his professional path. “That is where I got my start,” Breunig said. “I went on to Marquette after that, but the MSOE degree and the construction economics class is really what ended up getting me to become a developer.” So Breunig gives back to the school. He’s served as a member of the MSOE Corporation since 2002 and on the board of regents since 2015. He lends his expertise to campus planning and building committees and to the school’s architectural engineering classes. He’s also credited with generous philanthropic contributions to the school, including gifts to the Kappa Eta Kappa fraternity and rowing team, both of which he was

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ACCOUNTING

BANKING & FINANCE

Vrakas Business Valuations Inc., Brookfield

Annex Wealth Management, Elm Grove

Vrakas Business Valuations Inc., an affiliate company of Vrakas CPAs + Advisors, has hired Robert Grey as a valuation analyst. His primary responsibilities are performing business valuations and other valuation-related engagements.

ARCHITECTURE

Abacus Architects Inc., Milwaukee Eric Halbur is now officially an owner of Abacus Architects. He works as a designer, project manager and office manager of the firm’s Milwaukee office.

BANKING & FINANCE

High Point Capital Group, Milwaukee

LEGAL

DeWitt Ross & Stevens S.C., Milwaukee

Mihm

Loverine

Koch

Jim Baker

Schwab

Michael Mihm has joined Annex Wealth Management as a wealth manager in the firm’s new downtown Nowaczynski Milwaukee office. Additionally, Jay Schwab, CPA, joins Annex Wealth Management as a client experience manager. Mandy Nowaczynski has also joined Annex Wealth Management as a tax planner.

BUILDING & CONSTRUCTION

Horizon Retail Construction Inc., Sturtevant

Ellertson Hoskins

Tucker

Horizon Retail Construction Inc. has promoted Kevin Ellertson to project manager. He joined the Horizon team in Bautch 2015, where he previously held the title of project coordinator. Additionally, Bryant Tucker and Matthew Bautch were recently named project managers.

HEALTH CARE Downs

Klug

High Point Capital Group has named Taylor Hoskins, Steve Koch, Matthew Loverine and Jim Baker partners; Scott Baker Downs president; Derick Klug vice president; and Jacob Baker financial advisor.

a national search process and will start his new role in January.

Children’s Hospital of Wisconsin, Wauwatosa Children’s Hospital of Wisconsin has hired Scott Turner to be the system’s next chief operating officer and executive vice president. Turner was one of multiple finalists identified through

DeWitt Ross & Stevens S.C and its affiliate, DeWitt Mackall Crounse & Moore S.C., has announced its partner, Christopher Scherer, was appointed by the dean of John Marshall Law School to its board of visitors. The board of visitors is comprised of 20 distinguished alumni and friends of the law school who provide counsel, support and guidance to the dean.

Neman

PROFESSIONAL SERVICES

IPS, Delafield Sarah Feaman has been hired as a payroll specialist at IPS, a payroll and human capital management services company.

Kondex Corp., Lomira

MARKETING

STIR Advertising & Integrated Messaging, Milwaukee Laura Hinrichsen has joined STIR Advertising & Integrated Messaging as media director. Hinrichsen has almost 20 years of experience working on business-to-business and business-to-consumer media buying and planning with local and national media.

NONPROFIT

Seeds of Health, Milwaukee Seeds of Health has named Emily Capelle director of development and has elected Rick Nierzwicki, director of business development for C.G. Schmidt, to its board of

directors. Additionally, the organization has selected Veritas High School teacher Joe Neman for participation in its 2017-’18 Teachers for Global Classrooms

program.

MANUFACTURING Kondex Corp. has named Joseph Schaffer director of product engineering. In this role, he will oversee the product engineering team, provide technical and innovative support across multiple departments, and identify product and process solutions.

Nierzwicki

Capelle

SENIOR LIVING

Eastcastle Place, Milwaukee Tyler Gudex has been named the executive director at Eastcastle Place. Gudex went through Life Care Services’ professional development program, which put him on a fast track to becoming an executive director.

SENIOR LIVING

Luther Manor, Wauwatosa

Edwards

Johnson

Luther Manor, a life plan community headquartered in Wauwatosa with communities in Mequon and Grafton, has named Danny Edwards director of nursing services and Jackie Johnson director of assisted living.

biztimes.com / 39

BizConnections VOLUME 23, NUMBER 19 | DEC 11, 2017

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 | ads@biztimes.com EDITORIAL: 414-336-7120 | andrew.weiland@biztimes.com REPRINTS: 414-336-7128 | reprints@biztimes.com PUBLISHER / OWNER Dan Meyer dan.meyer@biztimes.com

SALES & MARKETING

DIRECTOR OF OPERATIONS Mary Ernst mary.ernst@biztimes.com

EDITORIAL

ACCOUNT EXECUTIVE Molly Lawrence molly.lawrence@biztimes.com ACCOUNT EXECUTIVE David Pinkus david.pinkus@biztimes.com

EDITOR Andrew Weiland andrew.weiland@biztimes.com

ACCOUNT EXECUTIVE Maggie Pinnt maggie.pinnt@biztimes.com

MANAGING EDITOR Molly Dill molly.dill@biztimes.com

ACCOUNT EXECUTIVE Christie Ubl christie.ubl@biztimes.com

REPORTER Lauren Anderson lauren.anderson@biztimes.com

SALES INTERN Amanda Bruening amanda.bruening@biztimes.com

REPORTER Corrinne Hess corri.hess@biztimes.com REPORTER Maredithe Meyer maredithe.meyer@biztimes.com REPORTER Arthur Thomas arthur.thomas@biztimes.com

ADMINISTRATION ADMINISTRATIVE COORDINATOR Sue Herzog sue.herzog@biztimes.com

PRODUCTION & DESIGN

Mule team at Milwaukee Auditorium

GRAPHIC DESIGNER Alex Schneider alex.schneider@biztimes.com

This photo, taken circa 1940 by James Conklin, shows part of a 20-mule team in front of the Milwaukee Auditorium as spectators look on. Opened in 1909, the venue has undergone several renovations over the years and is now called the Miller High Life Theatre. — This photo is from the Milwaukee Public Museum’s Photo Archives collection.

DIRECTOR OF SALES Linda Crawford linda.crawford@biztimes.com

ART DIRECTOR Shelly Tabor shelly.tabor@biztimes.com

Independent & Locally Owned — Founded 1995 —

COMMENTARY

Marketplace drives closure of coal power plants MILWAUKEE-BASED WEC ENERGY GROUP, the parent company of We Energies, announced recently that it plans to shut down its coal power plant in Pleasant Prairie. The facility, which has two units, one that went online in 1980 and the other in 1985, has 158 employees. A spokeswoman for the company said most of the employees are expected to be reassigned to other facilities and some of them are expected to retire. Changes in the energy market are driving the company’s decision to close the Pleasant Prairie facility, according to WEC spokeswoman Cathy Schulze. The falling cost of natural gas and renewable energy sources has made some coal facilities less efficient by comparison. In addition, demand for energy is static, so WEC doesn’t need the capacity provided by the 40 / BizTimes Milwaukee DECEMBER 11, 2017

Pleasant Prairie facility. The closure of the Pleasant Prairie power plant is good news for several reasons. Shutting down a coal power plant eliminates a source of air pollution. WEC spokeswoman Amy Jahns said government environmental regulations were not a factor in the company’s decision to shut down the Pleasant Prairie facility. It’s great to hear that a good business move for WEC will also be good for the environment. WEC plans to remove all of the buildings and equipment from the Pleasant Prairie site. That would free up a 425-acre property for future development in an area that is already a development hotbed. The closure of the plant is part of WEC Energy Group’s goal to reduce its carbon emissions by 40 percent from 2005 levels by 2030. It is just one of several coal plants that have been shut down or converted to natural gas by the company. In 2015, WEC converted its power plant in Milwaukee’s Menomonee Valley from coal to natural gas. The We Energies power plant in Port Washington was converted from coal to natural gas in 2008. The company plans to shut down coal power plants in Sheboygan, Green Bay and Presque Isle, Michigan. The Michigan facility will be replaced with two new

natural gas facilities, Schulze said. The company also plans to add a solar energy facility in Wisconsin by 2020. That will leave WEC Energy Group with only three coal power plants, in Oak Creek, Rothschild and Portage, according to Jahns. No changes are planned for those facilities. The coal plant closures and conversions are part of WEC Energy Group’s strategy to reduce costs and be a good environmental steward, Jahns said. The company wants to diversify its power sources, including the three coal plants, which remain important. Having a diverse power plant lineup will help WEC improve its energy reliability and keep costs lower for customers, she said. It remains to be seen if our We Energies bills will really go down, but it’s still good to know that WEC Energy Group considers cleaner energy sources good for business. n

ANDREW WEILAND EDITOR

P / 414-336-7120 E / andrew.weiland@biztimes.com T / @AndrewWeiland

gener8tor Milwaukee 2017 Premiere Night

AROUND TOWN

Milwaukee startup accelerator gener8tor held its Milwaukee 2017 Premiere Night on Nov. 20 at the Milwaukee Art Museum in Milwaukee. The six startups that just completed the latest cohort presented their companies to attendees.

JOE NOLAN of Good Harvest Market with GAIL MACASKILL, TOM SYLKE and MARK HOGAN of Wisconsin Economic Development Corp.

MARIA SANTACATERINA of Bright Cellars and AARON NODOLF of Michael Best.

MARK FITZGERALD of De Buey LLC, MARK SANTACROSE of Tecta America and BOB MAHON of Auto Brand.

JOHN KUEHL of hankr and CALVIN ANDERSEN of Vine Society.

JOHN MCDONALD of Godfrey & Kahn and SCOTT HESS of CliftonLarsonAllen.

TIM ELFELT and TRAE TESSMANN of Ideawake.

DERON CURLISS of BDO and DAVID ARNSTEIN of Venture Investors LLC.

RACHEL SEBALD of Lumanu, MATT CORDIO of Skills Pipeline, MCCUE ENRIGHT of Lumanu and TAVA HANSEN, student. Photos by Molly Dill

Commercial Real Estate Conference 2017

BizTimes hosted its annual Commercial Real Estate and Development Conference on Nov. 17 at the Italian Community Center in Milwaukee. The main topic of this year’s event was the development boom along the I-94 corridor between Milwaukee and Illinois.

KATIE MATT of CH Coakley and RYAN ELLENBECKER of Old National Bank.

10. DIANE PETFALSKI of Creative Business Interiors and HAL KARAS of Husch Blackwell. 11. DAN JESERIG of ICAP Development, BRYAN JOHNSEN of Tri City National Bank and CHAD SCHULTZ of Innovative Signs. 12. EMILY HURD of Henricksen & Co. and ALLISON PFEIFER of Eppstein Uhen Architects.

13. ROBERT PIERONI of First Business Bank and LYNN SIGFRED of National Exchange Bank & Trust. 14. JONAH HETLAND and AARON STANTON, both of CMA Inc. 15. WES RICCHIO of First Business Bank and THOMAS O’CONNELL, JR. of Partners in Design Architects. 16. PAM FARRELL of MB Financial Bank and DAN JESERIG of ICAP Development.

17. CARLA CROSS of Cross Management Services Inc. and EMILY MCMAHON of Emmons Business Interiors. Photos by Paul Gaertner biztimes.com / 41

BizConnections MY BEST ADVICE

may think they know what they want, but really dig deep to find out what they need. ” LILA ARYAN PHOTOGRAPHY

“ (Clients)

JACKIE WALSH President and chief operating officer Irgens Partners LLC Milwaukee Industry: Real estate irgens.com Employees: 105

42 / BizTimes Milwaukee DECEMBER 11, 2017

“IT WAS REALLY EARLY IN MY CAREER, back when I was at Arthur Andersen…. I was reviewing some of my work that had been done with my boss. You would be doing so much work and it took so much time (on a mainframe computer), and he said to me, ‘While yes, you’re technically correct, this isn’t what they need.’ “I had taken their instructions very literally and done exactly what they asked for. He said, ‘You are providing client services. You’re a consultant. You’ve got to understand what they’re going to do with the deliverable.’ “(Clients) may think they know what they want, but really dig deep to find out what they need. “That notion now applies to real estate. When you are negotiating a lease, for example, the client or the broker will ask you some things and it isn’t a matter of yes or no. If we can’t do it, let’s truly understand what they’re trying to get at and maybe there’s an in-between and we can get them to the same spot.”

AGE: 54 PROFESSIONAL EXPERIENCE: Walsh holds a bachelor’s in economics from the University of Wisconsin-Madison. She worked for Arthur Andersen and then as a vice president at Boldt Development before helping to establish Irgens in 1998. Walsh has served in a variety of roles, and was senior vice president and chief operating officer before she was promoted to her current role in 2014. As president and COO, Walsh oversees day-today operations including property and facilities management, design and construction administration, leasing, project management, information technology, and marketing and communications.

IN THE NEWS: Irgens recently acquired the 20-story BMO Harris Bank office tower and adjacent seven-level parking structure and surface parking lot in downtown Milwaukee for $7.1 million. It held a groundbreaking last month for the construction of the new $132.6 million, 25-story BMO Tower on the parking structure site, which will be home to BMO Harris Bank’s Wisconsin headquarters and Milwaukee law firm Michael Best & Friedrich. Irgens will redevelop the former BMO building into a mixed-use development. n

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