Find more about Weather in Escanaba, MI
Click for weather forecast

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

Click to view the current issue.

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

Look to energy names for global demand clues
Profit growth expectations for S&P 500 energy companies have fallen more than any other sector - from a forecast of 13.8 percent on July 1 to the current 1.8 percent, Thomson Reuters data showed. With various names due to report next week, including Exxon Mobil (XOM.N), Chevron (CVX.N), ConocoPhillips (COP.N) and National Oilwell Varco (NOV.N), there are hopes that executives will suggest that the fall in oil and share prices has overstated the outlook for these names. The energy sector over the last 20 weeks has spiraled from being the market leader to now ranking as its most distant laggard, according to a Relative Rotation Graph study, which analyzes the relative performance of the constituents of an index. The S&P energy sector up about 6 percent from Oct. 15, while the S&P 500 is up 5.5 percent from its Oct. 15 low and the benchmark index on Friday posted its best weekly gain since early January 2013.

Fannie Mae settles shareholder lawsuit for $170 million
Fannie Mae has reached a $170 million settlement of a lawsuit accusing it of misleading shareholders about its finances, risk management and mortgage exposure before it was seized by the U.S. government ...

Exclusive: Ford to overhaul Lincoln brand, this time with big bucks
Ford Motor Co's (F.N) new chief executive, Mark Fields, is giving the automaker's long-moribund Lincoln brand what his predecessor Alan Mulally never could: a little love and a lot of cash. Lincoln, a storied Detroit brand which Ford has owned since 1922, has been in a swoon for the past two decades, leaving dealers and customers wondering if Ford management had left the brand for dead. Now, with the renewed backing of Executive Chairman Bill Ford and the company's board, Fields has committed the automaker to a multiyear, multibillion-dollar overhaul of Lincoln that includes a significant investment in a new premium vehicle platform that will underpin several future Lincoln vehicles, four sources told Reuters. Ford could spend $5 billion or more over the next five years to revive Lincoln, revamp its product portfolio and reposition it as a true competitor to such global luxury leaders as Daimler AG's (DAIGn.DE) Mercedes-Benz and BMW AG (BMWG.DE), the sources said.

U.S. appeals court rules for GM over Spyker's Saab sale
Circuit Court of Appeals in Cincinnati on Friday said Spyker failed to show GM intentionally interfered with the Dutch company's effort to sell Saab to Zhejiang Youngman Lotus Automobile Co, leading to Saab's bankruptcy. GM had sold a majority of Saab to Spyker in 2010.

Ex-Bank of New York Mellon employee pleads guilty to insider trading
A former Bank of New York Mellon Corp (BK.N) employee on Friday pleaded guilty to insider trading based on tips from a former Merck & Co Inc (MRK.N) employee about potential pharmaceutical mergers. Federal prosecutors in New York said David Post, 41, a product manager at the bank, received nonpublic information from a former Rutgers Business School classmate about three companies: Idenix Pharmaceuticals, Ardea BioSciences and ViroPharma Inc [VIRO.UL].

U.S. new home sales at six-year high; recovery still fragile
The Commerce Department said on Friday that sales increased 0.2 percent to a seasonally adjusted annual rate of 467,000 units, the highest reading since July 2008. "We expect the housing market recovery to remain relatively gradual over the coming months," said Gennadiy Goldberg, an economist at TD Securities in New York. New home sales, which account for about 8 percent of the housing market, tend to be volatile month to month and large revisions are not unusual.

Ford's lower profit beats estimates; sales down on F-150 launch
Ford Motor Co on Friday reported a 34 percent drop in third-quarter profit, and revenue fell due to the cost of introducing the F-150 pickup truck. Ford, which affirmed its full-year profit outlook, said earnings suffered from lower wholesale vehicle volumes and recall costs, as well as supplier parts shortages. While a strong performance in North America helped push earnings above Wall Street estimates, analysts and investors were not impressed.

25 European banks set to fail health checks: sources
A group of 25 banks have failed European health checks, while up to 10 of those continue to have a capital shortfall, two people familiar with the matter said on Friday, providing a snapshot of the health of the region's lenders. The health checks, led by the European Central Bank, found that banks in countries including Greece, Cyprus, Slovenia and Portugal had fallen short of a minimum capital benchmark at the end of last year and that up to 10 remained in difficulty now, the sources said. The result, which has yet to be finalised by the ECB's governing council on Sunday, provides the most complete picture yet of the robustness of the euro zone's top 130 lenders. Those banks with shortfalls will now have two weeks to submit a plan to bolster their capital to the European Central Bank (ECB), which will decide whether or not it gets the green light.

U.S. House panel to meet with safety regulators about Takata air bags next week
House committee looking into the defective air bags made by Japanese supplier Takata Corp (7312.T) will hold an initial briefing with U.S. The date of the House Energy and Commerce Committee's briefing was not disclosed. The committee has not requested any documents on Takata at this point, the aide said. Officials with the National Highway Traffic Safety Administration were not immediately available.

Deutsche Bank braces for $1.3 billion in U.S., UK Libor fines: sources
Deutsche Bank (DBKGn.DE) is bracing to pay almost 1 billion euros ($1.3 billion) for Libor-related fines as it nears a deal with U.S. Deutsche Bank declined to comment. A spokesman for the United States Department of Justice declined to comment. Deutsche Bank already settled with European antitrust regulators over Libor and its euro equivalent Euribor last year, agreeing to pay 725 million euros.