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Retail Rebound? Madison Retailers Hope for the Best As the Holidays Approach NovemberNovember 20202020 [$3.95][$3.95] Retail Rebound? Madison retailers hope for the best as the holidays approach. + PAGE 32 Pandemic pivoting Construction and COVID Who’s got your legal back? TABLE OF CONTENTS NOVEMBER 2020 GREATER MADISON’S BUSINESS RESOURCE FOR OVER 40 YEARS DEPARTMENTS 4 LETTER FROM THE EDITOR 6 CAREERIST 8 LEADERSHIP INSIGHT 10 THE BUSINESS REPORT 24 EXECUTIVE PROFILE 26 STARTUP 28 BUSINESS DYNAMIC 70 COURT FILINGS 72 BY THE NUMBERS FEATURES 32 RETAILERS’ HOLIDAY HOPES Madison retailers are hoping for the best, but they are realistic about their holiday expectations. 42 CONSTRUCTIVE DEVELOPMENTS Most of the construction projects set for completion in 2020 got done despite COVID-19. 50 PANDEMIC PROTECTION Without liability legislation, guarding your business against COVID-19 lawsuits is up to you. ON OUR COVER SPONSORED CONTENT RETAIL REBOOT Madison retailers absorbed several blows in 2020, from pandemic restrictions to 56 WOMEN IN BUSINESS property damage and looting during demonstrations that turned violent, but their Touting the contributions of professional women 32 resilience is reflected in creative adjustments, pandemic-inspired e-commerce, and tempered hopes for holiday sales. 60 40 UNDER 40 PHOTO BY: M.O.D. MEDIA PRODUCTIONS Infographics tell a story about past honorees. 66 LEGAL PROFILES Madison’s legal expertise is rich and varied. 42 50 IBMADISON.COM 1 November 2020 VOL. 43, NO. 11 Meet the What is your sign of the zodiac IB team. and strongest associated trait? PUBLISHER Cancer Jon Konarske (loyal) [email protected] EDITORIAL DIRECTOR Leo Joe Vanden Plas (egotistical) [email protected] CREATIVE DIRECTOR Aquarius Ellen Cameron (open-minded) NOW ACCEPTING APPLICATIONS [email protected] DEPARTMENTS EDITOR Virgo Jan Wilson (over thinker) [email protected] ONLINE EDITOR Aquarius Jason Busch (obstinate) [email protected] STAFF WRITER Taurus Kimberly Hazen (super [email protected] stubborn) MULTIMEDIA STRATEGIST Capricorn Terri McCarthy (practical) [email protected] EVENTS MANAGER Gemini Jessica Hamm (curious) [email protected] GRAPHIC DESIGNER Leo Renee Sporle (big-hearted) APPLICATION DEADLINE: NOV. 15, 2020 [email protected] OFFICE MANAGER Libra IBMadison.com/40Under40 Carol Hornung (balance in [email protected] all things) DATABASE SUPPORT Libra Gloria Babcock (diplomatic) [email protected] APPLY TODAY! PRESIDENT Libra IB is seeking the most successful and civic-minded William H. Haight III (fair-minded) young professionals to be honored as the 2021 40 Under [email protected] 40! Nominate yourself or someone you know today! IBMadison.com Bloggers: The 2021 class will be featured in the March issue of In Business Deborah Biddle, Buckley Brinkman, Corey Chambas, Michael Dubis, Mindi Giftos, Donna Gray, Jessica M. Kramer, magazine and honored at a networking event that month. Debra Lafler, Terry Siebert, Spencer X. Smith, Tom Still, Martha Sullivan, and Coreyne Woodman-Holoubek In Business is printed in Dane County by Royle Printing. SPONSORED BY: In Business magazine is published monthly, including the yearly Book of Lists, by Business Information LLC, 200 River Place, Suite 250, Madison, WI, 53716, a subsidiary of Magna Publi- Kosnick Financial Group cations Inc. Periodicals postage paid at Madison, Wis. ISSN 01927450. Publications No. USPS 424-130. © 2020 by Magna Publications Inc. Reproductions in whole or in part without writ- ten permission are prohibited. Postmaster send address changes to In Business, 200 River Place, Suite 250, Madison, WI, 53716; (608) 204-9655; fax: (608) 204-9656. Subscriptions are $36/ year. Subscription information available at IBMadison.com. 2 IN BUSINESS: GREATER MADISON | NOVEMBER 2020 MARK YOUR WEB EXCLUSIVES CALENDAR NOVEMBER 2020 40 Under 40 APPLICATION DEADLINE: NOV. 15, 2020 IB is seeking the most successful and civic-minded young professionals to be honored as the 2021 40 Under 40! Nominate yourself or someone you know today! The 2021 class will be featured in the March issue of In Business magazine and honored at a networking event that month. Info: IBMadison.com/40Under40 ICONS IN BUSINESS COULD A SILVER TSUNAMI SINK MADISON? Icons in Business — Virtual On average, 10,000 baby boomers reach retirement age every day in the U.S., a NOV. 18, 10 A.M. trend that is expected to continue into the 2030s. Despite being a college town, Icons in Business connects you to the iconic organiza- Madison is not immune from this silver tsunami. In Madison, 50.42% of business tions and people influencing the business landscape. owners are over the age of 55 and 20.64% of those owners have no documented On Nov. 18, Deb Archer, retiring CEO of Destination transition plan, according to research from Ready for Next Cities (RFN Cities), a Madison and the Madison Area Sports Commission, preparedness and business retention program. will share insight into 25 years of making Madison IBMadison.com/SilverTsunami a sought-after location for tourism, conventions, sporting events, and competitions that boost the local economy. Tickets: Free Info: IBMadison.com/Icons 40 UNDER 40 HABITAT BUILD Members of past 40 Under 40 classes participated in a build COMMERCIAL DESIGN AWARDS 2021 project for Habitat for Humanity Commercial Design Awards of Dane County. IBMadison.com/4040Habitat APPLICATION DEADLINE: JAN. 15, 2021 IB is now seeking the most impressive commercial design projects that transformed the Wisconsin land- scape in 2020. Winners will be featured in the April 2021 issue and honored at an event that month. Info: IBMadison.com/CDA MAKING MADISON BY BUCKLEY BRINKMAN It’s time for Old White Guys (OWG) to take their foot off Sponsor a 2021 IB Event the brakes on social change and lean into the actions Contact your multimedia strategist at 608.204.9655 that will move us toward social and economic justice. or email [email protected]. For questions IBMadison.com/OWGs regarding our 2021 events, contact Events Manager Jessica Hamm at 608.204.9655 x35, or by email at [email protected]. SIGN UP YOUR TWICEWEEKLY RESOURCE for local business news and analysis. @ IBMadison for the free #ConnectWithIB IB EZINE IBMadison.com/ezine IBMADISON.COM 3 LETTER FROM THE EDITOR WILL DIVERSE BOARDS REQUIRE LEGISLATION? When it comes to gender diversity on business boards, Wisconsin’s corpora- tions are doing better than the national average, but nationwide gender balance remains an elusive goal. In 2019, women held 21.7% of the board seats at 45 Wisconsin corporations on the Russell 3000 index, according to the latest Gender Diversity Index published by the organization 2020 Women on Boards. This ranks Wisconsin seventh out of 26 states with at least 20 Russell 3000 companies, and since the Badger State doesn’t normally rank in the top half of national business rankings, let alone in the top 10, we can take a bow for the time being. More than half of the Wisconsin-based companies are at 20% or greater in terms of the percentage of women directors. Fifteen Wisconsin companies have three or more women on their boards, and two companies, Alliant Energy Corp. and Manpow- erGroup Inc., already have achieved gender balance, which is defined as an equal number of men and women corporate directors or a difference of one more woman or man in the case of boards with an odd number of directors. Board diversity is a long overdue development and an underappreciated aspect of stronger business performance. More voices and perspectives in the boardroom reflect the diversity that already exists in society and contributes to better decision-making. While Wisconsin has made progress on women, backsliding is always possible, and nationwide there still is a lack of women and people of color on corporate boards. How can this be remedied to the point where diverse boards are the norm rather than the exception? “You’d wish that diverse boards didn’t require legislation, but I think it’s going to.” — Susan Hodgkinson, The Personal Brand Co. If more progress isn’t made soon, calls might grow to force the issue with legisla- tion, according to Susan Hodgkinson, 30-year executive coach, founder of The Person- al Brand Co., and author of The Dignity Mindset: A Leader’s Guide to Building Gender Equity at Work. As Hodgkinson explains, it’s been done overseas. “You’d wish that diverse boards didn’t require legislation, but I think it’s going to,” states Hodgkinson, who has called for a minimum of 30% women and minority representation on boards. “So, if you look at countries where they have achieved these outcomes, in Iceland for one, it came through legislation. Germany has got legislation.” Maybe it won’t come down to new laws. Perhaps more consumers (and share- holders) will demand it. Can you name one modern corporation that wants to be out of sync with its customer base? JOE VANDEN PLAS EDITORIAL DIRECTOR 4 IN BUSINESS: GREATER MADISON | NOVEMBER 2020 JUNE 11-13, 2021 UUniversityniversity RRidgeidge GolfGolf CourseCourse | Madison,Madison, WWII VVisitisit AMFAMCHAMPIONSHIP.COMAMFAMCHAMPIONSHIP.COM forfor sponsorshipsponsorship informationinformation STEVE STRICKER TOURNAMENT HOST @AmFamchampionship @AmFamchamp /AmFamchampionship American Family Mutual Insurance Company, S.I., 6000 American Parkway, Madison, WI 53783 ©2020 019103 IBMADISON.COM 5 CAREERIST DISPENSE WITH INDISPENSABLE CAREER ADVICE When your employer can’t live without you, you may end up stuck right where you are. BY JASON BUSCH ice presidents, it’s long been said, are just “a Your manager relies on you so much that they Vheartbeat away” from the presidency. While won’t part with you, and you’re at risk of being pi- many would argue that the duties and pow- geonholed. This effect is often made worse by an- ers of the president make them indispensable, our other piece of well-meaning advice: ‘You’re doing system of government is set up precisely because a great job, just keep doing what you’re doing.’ presidents are dispensable.
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