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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.

Tricia VanEnkevort

Current issue

Current Issue

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In This Issue

  • 6 Tips Helping Professionals Take Leaps of Faith
  • More Women are Taking Control of Their Finances
  • Safety Grants to Benefit Michingan Farms
  • UP RatePayers Challenge PIPP Cost Allocation
  • Asset Purchase VS. Stock Purchase

Yahoo! Finance: Top Stories

Unknown election outcome is stocks' big fear
Senate races next week could hold the key to whether the stock market glides through the year-end in a typical post-midterm election rally or gets hit with a fresh bout of volatility. "If we have a really uncertain situation, where the Senate is divided and candidates are threatening recounts, that's really not good," said Robbert van Batenburg, director of market strategy at Newedge USA LLC in New York. Such an outcome, while considered unlikely, nevertheless rekindles uncomfortable memories for some of the 2000 presidential election, when George W. Bush's victory over Al Gore was not confirmed for more than a month after Election Day.

China's October factory growth unexpectedly hits five-month low: official PMI
China's factory activity unexpectedly fell to a five-month low in October as firms fought slowing orders and rising costs in the cooling economy, reinforcing views that the country's growth outlook is hazy at best. The official Purchasing Managers' Index (PMI) eased to 50.8 in October from September's 51.1, the National Bureau of Statistics said on Saturday, but above the 50-point level that separates growth from contraction on a monthly basis. Underscoring the challenges facing the world's second-largest economy, the PMI showed foreign and domestic demand slipped to five- and six-month lows, respectively, with overseas orders shrinking slightly on a monthly basis. "There remains downward pressure on the economy, and monetary policy will remain easy," economists at China International Capital Corp said in a note to clients after the data.

U.S. consumer spending falters; wage gains highest since 2008
"The fundamentals ... remain very solid," said Gus Faucher, a senior economist at PNC Financial Services in Pittsburgh. The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S.

J.P. Morgan found hackers through breach of corporate event website: media
According to the reports, the bank discovered that the intruders had used some of the same offshore servers to hack both the bank and the website of the JPMorgan Corporate Challenge. The New York Times said the breach was part of a repository of a billion stolen passwords and usernames from some 420,000 websites that a Milwaukee-based security consulting firm, Hold Security, had traced to a gang of Russian hackers. Further investigation by Hold and JPMorgan security specialists revealed that in April the hackers had obtained the website certificate for the Corporate Challenge site's vendor, Simmco Data Systems, allowing hackers access to any communications between visitors and the website, including passwords and email addresses, the Times reported. It said Hold Security began informing its clients of the breach around August, and JPMorgan officials then told Simmco Data.

U.S. consumer sentiment at highest since July 2007
The Thomson Reuters/University of Michigan's final October reading on the overall index on consumer sentiment finished at 86.9, the highest level since July 2007, up from 84.6 at the end of September. "The gains in confidence over the past three months point toward improved holiday spending by consumers," survey director Richard Curtin said in a statement. The survey's gauge of consumer expectations rose to 79.6 from the preliminary 78.4 reading and the 75.4 at the end of September, topping the expected 78.2.

Exxon, Chevron results boosted by refining as oil prices slip
A surge in refining profits boosted quarterly results at Exxon Mobil Corp and Chevron Corp , helping to offset declining oil and gas production and falling crude oil prices. Both companies reported better-than-expected ...

Dollar General extends tender offer for Family Dollar shares again
Dollar General had received offers for only about 4 million Family Dollar shares of a total 114 million outstanding shares as of Oct. 30, a day before the offer was to expire. Dollar General's perseverance to close a deal highlights its struggles in a weak economy where penny-pinching customers look for more discounts and deals. Dollar stores have been a popular choice for such customers, but rising competition from mass retailers such as Wal-Mart Stores Inc (WMT.N) and Target Corp (TGT.N) opening small-format stores has intensified pressure on them to merge.

Herbalife to pay $15 million to settle class action lawsuit
The company would pay $15 million in cash, plus up to $2.5 million for product returns, according to the court filing that granted preliminary approval for the settlement on Friday. Under terms of the settlement, Herbalife would also make "numerous changes" to its business model for at least three years after the settlement receives final approval, the court filing said. Short-sellers and other critics have accused companies such as Herbalife, NU Skin Enterprises Inc (NUS.N) and USANA Health Sciences Inc (USNA.N) of running pyramid-type schemes, questioning their sales model under which distributors make money not only from their own sales but from people they recruit as distributors.

Exclusive: U.S. probing Standard Chartered over Dubai banking - sources
The latest investigation involving the bank is based, in part, from evidence that emerged during a separate probe of BNP Paribas, the French bank that pleaded guilty this summer to charges related to sanctions-busting and agreed to pay $8.9 billion in penalties, the people said. Investigators also learned that the company used to have an account with Standard Chartered, according to the source.

Takata must rev up air bag replacement effort: U.S. safety officials
On Thursday, Takata agreed to add two production lines to make more air bag parts. The pledge came at a meeting with the National Highway Traffic Safety Administration, which said on Friday that the effort might not be enough. "It's unclear yet whether that would be sufficient to meet demand," said NHTSA Deputy Administrator David Friedman in a statement released Friday evening. Friedman also said Takata had not yet heeded NHTSA's request to contact other air bag suppliers to help speed up production of replacement parts for Takata air bags "due to concern for quality issues."