Financial
Betty Quadracci, co-founder of Quad/Graphics, dies PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 10 December 2013 07:21

SUSSEX, Wis. (AP) — Quad/Graphics Inc. co-founder Betty Quadracci, who also was president of Milwaukee Magazine and a champion of the arts, died Monday at age 75, the printing company said.

Quadracci died at her Wisconsin home, surrounded by family. The company didn't provide details on the cause of death, but her sister said Quadracci recently had pneumonia.

"She was a fighter. She had polio and almost died in the 1940s," Quadracci's sister, Sue Ewens of Shorewood, told the Milwaukee Journal Sentinel. "She had to learn to walk all over again. She always tried harder than everybody else — just to make up."

Quadracci co-founded Quad/Graphics in 1971 with her late husband, Harry. After starting in a vacant factory in Pewaukee with a single printing press and just 11 employees, the Sussex-based company now has 25,000 employees worldwide at more than 65 printing plants and dozens of support facilities.

In 1983, Quadracci became publisher of Milwaukee Magazine and was later named president. In 2012, she was inducted into the Milwaukee Press Club's Media Hall of Fame.

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GM stock hits new high as government exit nears PDF  | Print |  E-mail
Written by TOM KRISHER, AP Auto Writer   
Monday, 09 December 2013 16:34

DETROIT (AP) — Shares of General Motors Co. hit their highest level Monday since returning to the public stock markets three years ago as investors anticipated the U.S. government selling its remaining stake in the company.

THE SPARK: Late last month the government said it expected to unload the last of its General Motors stock by the end of the year. At the time, the government owned 31.1 million shares, or less than 2 percent of the company.

Mark Reuss, GM's North American president, told reporters Monday in Warren, Mich., that he expects GM's sales to rise once the government exits, especially among pickup truck buyers.

The government received 912 million GM shares, or 60.8 percent of the company, in exchange for a $49.5 billion bailout during the financial crisis in 2008 and 2009. So far it has recovered $38.4 billion of the money, but it's likely to fall about $10 billion short of getting all of its cash back.

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Former Napster exec killed on bike by patrol car PDF  | Print |  E-mail
Written by Associated Press   
Monday, 09 December 2013 16:36

CALABASAS, Calif. (AP) — A former chief operating officer of the online file-sharing service Napster was killed when he was struck by a sheriff's patrol car while riding a bicycle, authorities said Monday.

Lawyer and music industry veteran Milton Everett Olin Jr. of Woodland Hills died Sunday, according to coroner's Lt. Joe Bale.

The Los Angeles County Sheriff's Department said Olin and the patrol car were traveling in the same direction on Mulholland Highway in suburban Calabasas when the collision occurred.

The cyclist was in the bicycle lane when he was struck, KCAL-TV reported, citing investigators. He landed on the windshield, shattering the glass before rolling off the cruiser to the street.

The deputy, who was not named, was taken to a hospital for treatment of cuts and bruises.

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Guitar-playing bankruptcy judge tuned in to people PDF  | Print |  E-mail
Written by JEFF KAROUB, Associated Press   
Monday, 09 December 2013 14:16

DETROIT (AP) — Much of what you need to know about Judge Steven Rhodes, friends and former colleagues say, can be gleaned from a handful of hours amid the hundreds he's logged overseeing the largest public bankruptcy filing in U.S. history.

On a September day in Detroit's grand federal court building, the veteran bankruptcy judge invited retirees and residents to tell him what the city's massive restructuring would mean for them. Each had three minutes, but Rhodes was generous with the clock and let them have their say.

He didn't have to do it.

"There is no requirement that a bankruptcy judge has to listen to individuals who are represented by (lawyers)," said former bankruptcy Judge Ray Reynolds Graves, who worked with Rhodes for 17 years. "Steve put that to one side and had the retirees come into court and address him personally. Listening to people who could be adversely affected by having their pensions cut — that tells you something about the man's sensitivities."

Rhodes' character and conduct are more closely scrutinized since last week's ruling that Detroit was eligible to fix its broken finances in bankruptcy court. Friends and colleagues say the chief bankruptcy judge in Detroit — approaching retirement himself — aims to push the human impact to the front of an often arcane, impenetrable case of creditors and complex financial formulas.

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