In 2011 the Barclays Municipal Bond index had a total return of 10.7%. While experts don’t expect such above average returns this year, they are still looking for total returns of 6-7%. Its because of these types of forecasts that PIMCO funds, which runs the world’s largest bond fund, boosted its holdings of U.S. municipal debt to the highest level in 5 years. This is also in stark contrast to a year ago when municipal bonds were getting a bad rap. States were having budget issues, Build America Bonds were being halted, and market analyst Meredith Whitney told 60 Minutes that there would be defaults totaling” hundreds of billions of dollars.” Obviously, this did not come to pass. The default wave didn’t materialize and munis staged an impressive rally as detailed above.

Total return figures of 6-7%  are a combination of interest and price appreciation. If we just look at the interest paid, that figure ranges from 2 – 3% for investment grade. One to two percent higher for non- investment grade muni bonds. This interest is normally paid every 6 months to individual bond holders or quarterly from bond funds. One of the primary benefits of muni bonds is that they are free from federal tax. This means that for investors in the 28% bracket, a 3% rate is the equivalent of 4.2% taxable. If you’re in the top rate of 35%, you would be earning a rate of 4.7% on a taxable equivalent basis.

According to Bloomberg news, municipal bonds is one investment where hiring a professional fund manager makes a ton of sense. Mutual fund companies have analysts to sort out the good investment-grade values, and you get the broad diversification that helps reduce default risk. There are a number of good funds out there. Morningstar research lists on their site several highly rated funds that yield from 3.35 to 4.25%.

With Federal Reserve Chairman Ben Bernanke announcing his intent to keep interest rates low until sometime in 2014, the higher yield from municipal bonds could be a very attractive place to be over the next year, or maybe longer.

Starting Friday January 27th on WFHR at 10:30am we will be starting our new radio show “Investment Insights from Buena Vista.” Also please go to our website to find out more information www.buenavistainv.com, or like us on Facebook to stay up on our latest thoughts.

Buena Vista Investment Management
241 Third Street South l Wisconsin Rapids, WI 54494
Phone: 715 422-0700

A classic work about a world famous lecturer who is invited over for dinner and while there, falls and injures himself. The lecturer decides that he will stay in the house until he is well again. Imagine your worst relatives coming over and never leaving!

Anyone who has seen an LHS dramatic production knows how talented and committed these young actors are to producing wonderful shows for all to enjoy.

Join the LHS drama department this weekend!

• Saturday, January 28, 7:30 p.m. (Silent Auction to benefit the Drama Department).
• Sunday, January 29, 2:00 p.m.

Scholarships provide support to high school students in the greater south Wood County area who are seeking assistance for college tuition, high school tuition, and specific high school programs. There are also scholarships for non-traditional students pursuing a college education, and scholarships for college students in their second year and higher.

Each scholarship is unique. Some are established by organizations interested in a specific field of interest, and others are created to honor loved ones – a child who died before his or her time or a parent. Review the eligibility requirements of each.

The common element in all scholarships is the charitable spirit of the donors who created them. “We thank the individuals and groups who make these awards possible and believe in the power of education to help people achieve their dreams,” said Mary Wirtz, Donor Services at Incourage.

For more information about a scholarship fund or general questions, please contact Wirtz at mlwirtz@incouragecf.org or call 715.423.3863. The deadline for most of these scholarships is March 1. For more information, or to apply for any of these scholarships, visit www.incouragecf.org.

The February meeting will feature “Medical Oncology & Prostate Cancer Treatments,” presented by Dr. Ron Kirschling, Medical Oncologist with UW Cancer Center Riverview. Light refreshments will be served.

The Prostate Cancer Support Group meets the first Thursday of every month from 5:15 to 6:15 p.m. in Riverview’s Lower Level Conference Center. Each month’s meeting features a topic relating to prostate cancer. There is no cost to attend, and no registration is required. New members and spouses are always welcome.

For more information about the Prostate Cancer Support Group, please call UW Cancer Center Riverview at 715-421-7442.

“In Our Hearts Forever” offers support during a difficult time. The group consists of people who have suffered the same losses and wish to encourage and comfort one another. The February meeting will address “Spiritual Struggles… How Could a Good God Allow This?”

During meetings, attendees share the physical, emotional and spiritual struggles felt during the loss of a child. There is no pressure to participate in the discussion. The privacy of all attendees is respected. The support group has no religious affiliation, however religious beliefs and values may be discussed.

“In Our Hearts Forever” meets the first Tuesday of every month from 6:30 to 7:30 p.m. in Riverview Medical Center’s lower level conference center. New members and support persons are always welcome; but the group asks that no children attend. No fee or registration is required.

For more information, please email inourheartsforever@gmail.com or visit inourheartsforever@groups.facebook.com.

“Last evening Governor Walker reiterated our need to focus on doing all that we can to improve the business climate in our state. Though we have seen marked improvement in the number of our state’s citizens heading back into the workforce over the past year, we must always do whatever we can to combat this national recession. Job growth and business expansion for the residents of the 72nd Assembly district will continue to be my number one priority throughout the rest of this year’s session.”

In additional comments, Krug also said that “It is not the government’s role or responsibility to create jobs; it is the government’s job to get out of the way of Wisconsin’s job creators. Far too often, entrepreneurs and taxpayers are tied down by red tape and bureaucratic nonsense. I look forward to doing all that I can to support these efforts for responsible economically sustainable policies on behalf of the state government, starting with the passage of a job-creating mining bill today. This legislation will not only add jobs directly at the mining site in Northern Wisconsin, but will also be vital to the expansion of transportation networks in my district.”

In addition, Representative Krug praised the Governor’s proposal to increase teacher salaries based on merit and student achievement in the classroom. “In order to remain a leader in education, we must reward teachers who excel in the classroom. Rather than continue to applaud stagnancy by maintaining the status quo, let’s achieve excellence by supporting pay increases for those whose performance leads to enhanced achievement by our children. We owe the future of this state no less than our best effort to create the world’s finest educational system right here in Wisconsin.

I applaud Governor Walker for his speech last evening, and in reaffirming his commitment to economic solvency, job growth, educational excellence, and continued responsible stewardship of taxpayer money.”

“Unfortunately, it seems that Governor Walker is continuing to promote the same failed policies that have divided our state and caused six straight months of job losses. After promising to create a quarter million jobs, the Governor and the Republicans in the Legislature have focused instead on handing out $2.3 billion in tax giveaways to big corporations, weakening protections for consumers and the environment, and decimating funding for education and healthcare. We see the results of those policies all around us. While the rest of the county is experiencing positive economic growth, while our neighboring states are adding jobs, Wisconsin has lost over 35,000 jobs ever since Governor Walker’s policies went into effect. We’re clearly headed in the wrong direction.

“The Governor also promised to balance the budget without raising taxes. Instead, he left a $2.9 billion budget gap for the next Legislature to fix, and raised taxes on seniors and working families by $70 million.

“The state of the state is deeply divided. By pursuing an extreme agenda on behalf of special interests, Governor Walker has created an atmosphere of division that makes it hard for the state to move forward. In the meantime, Wisconsin has lost more jobs in the last six months than any other state in the nation. Governor Walker’s approach is simply not working for Wisconsin families.

“It was encouraging to hear the Governor talk about education tonight. But the programs he outlined will do little to repair the damage that he created by cutting $1.6 billion from our public schools, along with more than $320 million from our universities and technical colleges All the task force reports in the world won’t help schools that are losing educators, cutting programs and increasing class sizes in the wake of the deep budget cuts and revenue caps the governor has imposed.

“The quarter million unemployed workers in our state are tired of waiting for jobs. I and my Democratic colleagues have brought forward solid proposals based on proven ideas that help get people back to work. We’ve been at the table, ready to work with Governor Walker and Republican legislative leaders to help create the 250,000 good-paying, family-supporting jobs the Governor promised and our state needs. I urge the Governor to listen to the people of Wisconsin and be a leader who will bring us together and move our state forward.”

“We are extremely excited to have both Tommy and Augey return to Wisconsin Rapids for the 2011 season,” said assistant general manager John Fanta.  “Both players have already experienced a great deal of success in the Northwoods League and we look forward to having their leadership on the 2012 team.”

LHP-Tommy Organ, 6’5”, 180 lbs (L/L) Junior, North Florida

After leading the Inaugural Season Rafters pitching staff in strikeouts in 2010, Tommy Organ will return to Wisconsin Rapids following his junior season at North Florida this spring.  Last spring, Organ appeared in 15 games (8 starts) for the Ospreys and posted a 4.12 ERA.  In 43.2 innings he struck out 44 batters and posted a 4-2 record during his sophomore season, subsequently being named to the 2011 Atlantic Sun Conference All-Academic Team.

Following his freshman year at North Florida, Organ appeared in 16 games for the Rafters, making 8 starts.  He posted a 1-3 record to go along with a 4.39 ERA and struck out a team-high 54 batters in 53.1 innings of work.  Arguably his best pitching performance of the season occurred on July 23^rd at Wausau, after transitioning from bullpen to starting duty.  In 6.1 innings against the Woodchucks, Organ allowed only 2 hits while striking out a season-high 11 batters.  He allowed only one unearned run in the dominant performance.

The Chicago, Illinois native appeared in 15 games out of the North Florida bullpen while posting a 4.56 ERA as a freshman.  In 25.2 innings he struck out 19 batters and also compiled 3 saves.  He currently resides in Tarpon Springs, Florida.

LHP-Augey Bill, 6’8”, 220 lbs (L/L) Junior, Arizona

After redshirting his sophomore year, Bill proved to be a very consistent and durable force for the 2011 Rafters pitching staff.  After joining the team mid-season, Bill appeared in 8 games (7 starts) and posted a 3-1 record and 4.10 ERA.  Spanning 37.1 innings on the mound, Bill allowed only 32 hits while striking out 36 batters and only allowing 13 walks.

In 17 games (1 start) for the Arizona Wildcats as a true freshman in 2010, Bill posted a 4.40 ERA in 14.1 innings on the mound.  Opponents posted a miniscule .218 batting average against him, the lowest mark for any pitcher on the staff.  He managed to strike out 14 batters in as many innings, while allowing only one extra base hit.  Bill is a native of Danville, California and is currently enrolled in the College of Engineering at Arizona, with a major in aerospace engineering.

Senate Bill 369 would create a tax credit for businesses that hire disabled veterans. The credit would help defray any extra costs, such as adding accessibility features, that businesses may incur by hiring a disabled veteran.

“Veterans have been disproportionately affected by unemployment, and, unfortunately, those with disabilities face even greater challenges when trying to find full-time and long-term work,” Lassa said. “Right now we have around 15,000 working-age disabled veterans in Wisconsin with about 3,700 looking for jobs each year. Some estimates find unemployment among disabled veterans as high as 50 percent. This bill will help break down the barriers our disabled veterans face when they seek employment.”

Senate Bill 376 would make senior executives at the Wisconsin Economic Development Corporation (WEDC) subject to the same ethics provisions that state employees are held to. Because WEDC was created as a public-private corporation, its senior executives aren’t automatically subject to those ethics provisions.

Under the bill, WEDC executives would be prohibited from using their positions for private benefit, accepting anything of value in return for official actions, accepting meals or transportation expenses, using confidential information for private gain, or using their positions to benefit themselves or family members. They will also be required to file annual statements of economic interest.

“In creating WEDC, the Legislature gave the new public-private corporation unprecedented flexibility in how it uses millions in taxpayer dollars to create jobs and promote Wisconsin’s economy,” Lassa said “By passing SB 376, we will be fulfilling our duty as legislators to make sure that tax dollars are used responsibly and in the public interest.”

SB 376 was developed in consultation with WEDC Secretary and CEO Paul Jadin, and was approved unanimously by the WEDC Board of Directors at its December 13th meeting. Senator Lassa is one of four legislative members of the WEDC board; the other three legislators joined her in cosponsoring the bill.

Senate Bill 339, which Senator Lassa introduced along with Senator Pam Galloway (R-Wausau), expands state agency hiring preferences for disabled veterans to all positions in the classified service of the state civil service system. Currently, agencies can only make non-competitive appointments for non-professional or entry-level positions. The disabled veteran who is considered for a non-competitive appointment must still be qualified to perform the job.

“Our disabled veterans come back from the service with all kinds of valuable skills, including advanced managerial and professional experience. If they qualify for professional positions or those above entry level, they should get the same hiring preference we currently give for lower-level positions,” Lassa said.

“Unemployment among newly-returned veterans is at 13.1 %, and even higher for vets under age 24,” Lassa said. “For disabled vets, unemployment is around 50 percent. We need to do better for those who volunteer to go into harm’s way to serve our country, and this bill is a step in that direction.”

Senate Bill 356, introduced by Senator Lassa along with Senator Glenn Grothman (R-West Bend) increases the limitation on the amount of charitable donations and grants a credit union may make to community groups

“Credit unions have a long tradition of service to both their members and their communities,” Lassa said. “Our state credit unions want the ability to do more to address community needs through contributions to charitable causes, and this bill will give them that ability.”

Both bills now go on to the State Assembly.