The Stevens Point Brewery was recently named one of the top breweries in the United States.
On the Job is a blog by Business Editor Nathan Vine that looks at local business news in Portage County. You can view it by going to www.wisinfo.biz/blogs/category/stevens-point/on-the-job.
The following are excerpts from the blog:
The Stevens Point Brewery earned another honor by taking its place among the top breweries in the United States.
The Brewers Association - the nonprofit trade group that tabulates production statistics for the U.S. brewing industry - recently released its annual lists of the top 50 craft and overall brewing companies in the U.S., based on 2012 beer sales volume.
The brewery was ranked No. 35 in the nation among craft breweries. The New Glarus Brewing Co. was the only other brewery from the state on the list, and was ranked 17th.
In a separate category ranking overall companies in the U.S., Stevens Point Brewery finished 46th. New Glarus finished 26th, while Minhas Craft Brewery in Monroe finished 11th.
The brewery is currently in the middle of its fourth expansion in as many years, a $2 million project expected to be completed in May that will increase production and add jobs.
Top CEO severance packages
Forbes recently did a story on the 10 largest severances received over the past decade. Read on if you can stand it.
1. Jack Welch, General Electric: According to a recent report from GMI, the corporate governance research firm, during his tenure as CEO, Welch received benefits such as a "$80,000-per-month Manhattan apartment owned by the company, courtside seats to the New York Knicks and U.S. Open, seating at Wimbledon, box seats at Red Sox and Yankees baseball games, country club fees, security services and restaurant bills." When he retired as CEO in 2001, he collected a severance payment worth $417 million.
2. Lee Raymond, Exxon Mobil: Raymond collected $321 million when he stepped down as CEO in 2005.
3. William McGuire, UnitedHealth: McGuire, who served as CEO from 1991 to 2006, collected $286 million when he retired.
4. Edward Whitacre, AT&T: Whitacre, the former CEO, collected $230 million when he stepped down in 2007.
5. Bob Nardelli, Home Depot: When Nardelli stepped down as CEO in 2007, he collected $223 million.
6. John Kanas, North Fork Bank: When Kanas stepped down as CEO in 2006, he collected both a severance package and a retirement package. In total he received $214 million.
7. Fred Hassan, Merck: When Hassan left he collected a pay package worth $189 million. According to GMI's report, he walked away with a pension package worth $198 million.
8. Louis Gerstner, IBM: In 2002, Gerstner stepped down as CEO and IBM paid him a severance package worth $189 million.
9. Hank McKinnell, Pfizer: When McKinnell stepped down as CEO in 2006, the company paid him $188 million in severance pay. As part of the payout package he took home, McKinnel received a pension package worth $161.6 million, the highest of any CEO in this list.
10. Thomas Ryan, CVS: Ryan stepped down as CEO in 2011, and the company paid him $185 million in severance pay.