In Business News for Tuesday, January 3rd, 2012, there is a new waiting period for unemployment benefits, and Badger Meter is making a big purchase.
There is a new, one-week waiting period before unemployed workers can begin collecting unemployment benefits. It's expected to save the state an estimated $45 million a year. More than three dozen other states have adopted this waiting period. Unemployed workers are eligible for 86 weeks of jobless benefits in Wisconsin.
Badger Meter is buying Racine Federated for $57 million in cash. The deal includes the Racine company's subsidiary in England. Racine Federated makes flow meters for the water industry, and various industrial metering and specialty products. The deal is expected to close within the next few months.