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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

  • FRESH start for DeBacker Family Dairy
  • Power U.P.: Harvest Energy assists farmers
  • Aquila is back on the Back Forty Project
  • U.P. Food Exchange connects businesses, growers

Yahoo! Finance: Top Stories

Focus turns to U.S. outlook, Russian stocks stabilise
World shares hovered just below all-time highs on Tuesday as investors drew encouragement from a rally in Chinese markets and beaten-down Russian stocks enjoyed some relief after three days of heavy selling. Investors remained cautious, however, given geopolitical jitters and a torrent of U.S. economic news due to come this week, including a Federal Reserve meeting and GDP data on Wednesday and non-farm payrolls figures on Friday. The dollar shuffled higher on bets it will all add up to the Fed hiking U.S. interest rates for the first time since the financial crisis early next year. Russian stocks steadied too after investors dumped them in recent days in anticipation of broader economic sanctions to be imposed by the European Union on Moscow this week.

Deutsche Bank profit rises as investment bank focus pays off
Deutsche Bank's plan to become "the last man standing" in investment banking in Europe is working, the bank said on Tuesday, reporting a 16 percent year-on-year increase in quarterly pretax income. Deutsche Bank faces an array of investigations that ranges from allegations of manipulating the Libor benchmark rate to unfairly favoring some investors in so-called dark pools and has already paid more than 5 billion euros over the past two years in settlements and fines. In a new development, Deutsche Bank said it had received requests for information from regulators related to high frequency trading, and that it had been named as a defendant in class action complaints alleging violations of U.S. securities laws related to high frequency trading. Deutsche Bank has come under heavy fire from U.S. authorities in recent weeks, with regulators slamming the bank for shoddy financial reporting, weak technology and inadequate auditing and oversight, which it is addressing in part by hiring 500 U.S. staff.

Exclusive: Goldman unit eyes foray into China amid metals financing scandal
NEW YORK/SYDNEY/LONDON (Reuters) - Goldman Sachs Group Inc's metals warehousing unit is exploring its first foray into China, and privately held C Steinweg has expanded capacity there, sources said, as a financing scandal in a major Chinese port fuels a scramble for market share. It has intensified a battle between new entrants and entrenched rivals in the multi-billion dollar business of securely storing the world's commodities in China, the world's biggest producer and user of base metals. As Goldman ponders a possible move into China, Western warehousing companies already operating there, including Glencore Plc unit Pacorini Metals and Trafigura-owned Impala [TRAFGF.UL], are scrambling to defend their turf. Detroit-based Metro International Trade Services, a major warehousing company that Goldman bought in 2010, is looking at setting up shop in Shanghai and other bonded locations in the country, a source familiar with the matter told Reuters.

Last time this happened, stocks sold off hard
Low grade, high-yield corporate bonds—affectionately called “junk bonds”—are on track for their worst month in nearly a year, and junk bonds tend to trade closely with stocks.

Retirement regrets: Costly mistakes to avoid
Even if you put enough money aside, pursuing the right retirement plan is just as important as saving for it. Expert Jean Ann Dorrell, shares some top financial retirement regrets you can avoid.

Darden CEO to step down amid Olive Garden troubles
Darden Restaurants says CEO and chairman Clarence Otis is stepping down as the company fights to fix its flagship Olive Garden chain following the sale of Red Lobster.

Judge allows $2 billion sale of NBA's Los Angeles Clippers to proceed
Los Angeles Superior Court judge Michael Levanas said he will rule Monday afternoon on whether club owner Donald Sterling can halt the $2 billion sale of the NBA's Los Angeles Clippers.

Family Dollar takeover hints that dollar stores' best days are ending
The proposed $8.5 billion purchase of Family Dollar by Dollar Tree is a logical, if expensive, bid at consolidating the fast-maturing dollar-store business.

This is a lurking threat for stocks
Where is the dollar headed next and what does it mean for U.S. stocks?

The good, the bad and the ugly of narcissistic CEOs
While narcissist CEOs can use their charisma and risk-taking tendencies to lead a company to great financial success and innovation, narcissism among top management is often a double-edge sword. Companies led by narcissistic CEOs reported higher earnings-per-share and share price than companies with non-narcissistic CEOs, according to a study, “CEO narcissism and accounting: a picture of profits,” recently published in the Journal of Management Accounting Research, according to Phys.org, a science and technology news service. “On one hand, there may be something about individuals with narcissistic personality tendencies that helps them excel in executive leadership positions,” wrote Kari Joseph Olsen from the University of Southern California, in a 2011 version of the research paper, which studied narcissistic CEOs at Fortune 500 companies. Here are other behaviors of narcissistic CEOs and how they can affect their companies: