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Welcome to Upper Peninsula Business Today

UP Business Today

We are a monthly magazine that keeps the U.P. business community informed on regional business activity and trends. For over 20 years, we have featured stories of local professionals who are thriving in the U.P. economy. As we continue to be your trusted source of business news, we bring new sections to highlight the people and events that make the U.P. unique including 4Hire, On the Network and The Loop.

Keeping you, our business to business partner, Intrigued, Interested and Informed.

Mary Ann Heath

Current issue

Current Issue

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In This Issue

  • Manpower: Achieve Your Potential
  • BBB offers tips for Scan Protection
  • Retirement planning for small business owners
  • Sale of UPPCO complete
  • Shamco and Ponsse help the fight against cancer

Yahoo! Finance: Top Stories

Asian shares shine on U.S. tech results, ECB hopes
MSCI's broadest index of Asia-Pacific shares outside Japan extended gains and was up 0.9 percent, while Japan's Nikkei stock average (.N225) added 1.7 percent, rebounding from Tuesday's 2 percent drop. Asian sentiment also got a lift from the European Central Bank's plan to buy corporate bonds, a step that would help banks free up more of their balance sheets for lending. The ECB might decide on the matter as soon as December with a view to begin purchases early next year, several sources familiar with the situation told Reuters.

Faulty airbags warning expanded to 6.1. million U.S. cars: NHTSA
The U.S. highway safety regulator, NHTSA, expanded its warning on Tuesday about faulty airbags made by Japanese auto-part maker Takata to 6.1 million vehicles in the United States. "The National Highway ...

Yahoo ekes out third quarter revenue gain despite display ad weakness
Yahoo Inc reported a modest increase in revenue during the third quarter, exceeding lackluster Wall Street targets, as the Internet company's online display advertising business continued to struggle. Shares of Yahoo rose 1.1 percent to $40.61 in extended trading on Tuesday. “This is a continuation of what we’ve seen for most of the last two years," said Pivotal Research Group analyst Brian Wieser, citing the ongoing weakness in the display advertising business. Yahoo's revenue, excluding fees shared with partner websites, was $1.094 billion in the three months ended Sept. 30, a 1 percent increase from $1.081 billion in the year ago period.

Broadcom third-quarter results beat views, stock jumps
Broadcom (BRCM.O) posted third-quarter results on Tuesday that exceeded Wall Street's expectations as the chipmaker focused on networking and smartphone chips, sending its shares 5 percent higher. Broadcom, whose wifi connectivity chips are used in Apple's iPhones, reported third-quarter revenue of $2.26 billion, up 5.3 percent from the year-ago period. Analysts on average had expected third-quarter revenue of $2.17 billion, according to Thomson Reuters I/B/E/S. Broadcom may have received a boost from brisk sales of Apple's newest smartphones, Bernstein analyst Stacy Rasgon said.

U.S. existing home sales at one-year high, prices up
A separate report on Tuesday showed service sector activity in the nation's mid-Atlantic region picked up speed this month, another signal suggesting underlying strength in the economy. The National Association of Realtors said existing home sales increased 2.4 percent to an annual rate of 5.17 million units, the strongest reading since September of last year. Housing is slowly regaining its footing after activity stalled in the second half of 2013 following a run-up in mortgage rates. While it continues to be hobbled by sluggish wage growth, a recent decline in mortgage rates should help support sales.

Michigan becomes fifth U.S. state to thwart direct Tesla car sales
Michigan Governor Rick Snyder signed a bill on Tuesday that will keep electric carmaker Tesla Motors Inc (TSLA.O) from selling its cars directly to consumers in the state, home to the biggest U.S. Snyder said in a letter to members of the state House of Representatives on Tuesday that the measure merely "clarifies" existing law not to allow direct manufacturer-to-consumer retail sales. Michigan becomes the fifth U.S. In all of those states except Michigan, Tesla operates "galleries" where consumers can view Tesla cars but cannot discuss prices, take test drives or order cars.

Airbus Helicopters expects China to become biggest market by 2020
Airbus Helicopters, the world's largest civil helicopter maker, expects China and Hong Kong to become its biggest global market within six years as Beijing starts to lift restrictions on the use of low altitude airspace from 2015. The Airbus Group NV's (AIR.PA) helicopter division expects to increase its annual sales in China to 150 units by 2020 from around 30-40 helicopters now, its China president Norbert Ducrot told Reuters. "The China market is very small with a big potential," Ducrot said in an interview in Beijing. "I am pretty sure around 2020, China will be the first market for Airbus Helicopters."

After huge jet orders, budget airlines eye rich seam of aircraft leasing
Between them, Indonesia's Lion Air, Malaysia's AirAsia (AIRA.KL) and Norwegian Air Shuttle (NWC.OL) have ordered more than 1,400 Airbus (AIR.PA) and Boeing (BA.N) jets, worth about $140 billion at current list prices. Jet makers and the finance companies which dominate aircraft leasing question whether budget airlines have the know-how to succeed, and some in the industry wonder whether they have simply ordered more planes than they need. "It's the leasing companies that have made money in the last 10 years, not the airlines," Norwegian Air Shuttle's chief executive Bjorn Kjos told Reuters in a recent interview, referring to lessors who buy 30-40 percent of Airbus and Boeing planes. Though such business remains in its infancy, it could also help them hedge currency risk, bringing in revenue in dollars that can also be used to buy jets.

New Total boss must overhaul exploration strategy, pursue cost cuts
The sudden death of Total's top executive may make it even trickier for the French oil major to overhaul its expensive exploration strategy while simultaneously cutting costs to please shareholders as oil prices fall. Total had recently taken the unusual step of naming an outsider to devise a new strategy after a costly three-year drive to increase drilling spending failed to yield significant results - the main blot on Christophe de Margerie's legacy. With Brent crude now around $85, executing this plan becomes even more critical, and investors are hoping that the group has a plan of action following de Margerie's death. The company had been officially planning to take stock of its exploration strategy next year.

McDonald's CEO acknowledges image problems after tough results
Thompson, who has been CEO for just over two years of his 25-year career at McDonald's, said the company that now serves some 70 million customers a day worldwide has at various times during its history faced questions about whether it is still relevant to consumers, who are now craving more fresh, unprocessed food. "McDonald's is in the business of satisfying customers and that will never fall out of favor. McDonald's has posted a string of disappointing results, due to uncontrollable factors and internal missteps, since Thompson took the helm in July 2012. Wall Street analysts, many of whom underscore McDonald's deliberate business style, predict that the company will give Thompson at least a year to move the needle.