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NEWS STORIES

Wausau Paper's largest shareholder calls for management overhaul and move, or saleSubmitted: 01/19/2014

Lauren Stephenson
5 p.m. Anchor/Reporter
lstephenson@wjfw.com

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MOSINEE - Wausau Paper's largest shareholder, Starboard Value LP, wants the company to replace management or consider selling the company.

Starboard owns more than 15% of Wausau Paper's stock.

It publicly released a 10-page letter outlining its suggestions to board members Friday.

The letter criticizes current management for "ignoring shareholder concerns" and the company's "prolonged underperformance under the direction of the current management team and Board."

In the letter, Starboard's CEO Jeffrey Smith says Wausau Paper's board "has been more intent on lining the pockets of management."

He says the board spent $250 million to restructure its printing and writing business.

Starboard suggested they sell it.

Wausau Paper did finally sell the two specialty printing mills in Rhinelander and Mosinee to KPS Capital Partners LP last summer.

But Starboard CEO Jeffrey Smith said they should have sold a year earlier when the business was worth more.

Starboard claims management refuses to move headquarters from Mosinee even though "Wausau's Tissue business, which now represents 100% of revenue, operates entirely out of Kentucky and Ohio."

Wausau Paper just invested $220 million into its facility in Kentucky.

Starboard argues the management should move there to oversee the operations.

The letter also nominates three people directors to the Wausau Paper board.

One of those nominees is Starboard CEO Jeffrey Smith.

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 IN OTHER NEWS
What We're Working OnSubmitted: 10/24/2014

- Human trafficking is a $32 billion industry. A speaker in Woodruff today wants to help people here understand how big of an issue it is, and how the third largest criminal industry in the world can be found right here in the Northwoods.

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We'll have the details on these stories and more tonight on Newswatch 12 - news from where you live.

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A local author launches first novel of a new seriesSubmitted: 10/24/2014

MINOCQUA - A new novel may catch your eye this weekend at a local bookstore. On the cover is a picture of girl by a Northwoods Lake. The book is titled "Exit Point" and is written by new author Alicia Sanftleben. Sanftleben grew up and lives in the Minocqua area. Her novel focuses on a young girl who, after a near death experience, is forced to rethink her life's path. The novel is the first part of a series of books. It follows the young girl's journey on her new life and efforts to save the world from destruction.

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Wisconsin court won't reconsider voter ID caseSubmitted: 10/24/2014

MADISON - The Wisconsin Supreme Court has refused to reconsider whether the state's voter photo identification law is unconstitutional.

Republicans passed the law in 2011. The National Association for the Advancement of Colored People and the immigrant group Voces de la Frontera as well as the League of Women Voters challenged the mandate in separate lawsuits. The state Supreme Court concluded in July that the law is constitutional in both cases.

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Apple Crunch promotes healthy eatingSubmitted: 10/24/2014

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EAGLE RIVER - Students across the region crunched into apples at the same time Friday.

It was in celebration of Food Day.

Food Day raises awareness of where food comes from and eating healthy.

Click "Play Video" to see why serving something as simple as apples is leaving a lasting impact on young kids.

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Wisconsin health officials start Ebola hotlineSubmitted: 10/24/2014

MADISON - Wisconsin state health officials have launched an Ebola hotline.

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Kids with disabilities tour local businesses, practice networking skillsSubmitted: 10/24/2014

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RHINELANDER - Kids with disabilities can sometimes have a difficult time finding a job.

Special education teachers at Rhinelander High School want to change that. They set up the "Amazing Race To Employment" for their students.

Students with disabilities went to different local businesses today. The race gave them a chance to ask managers questions about working at the business.

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Hulsey launches write-in candidacy for governorSubmitted: 10/24/2014

MADISON - Just 12 days before the election, state Representative Brett Hulsey says he is running for governor as an independent write-in candidate.

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Hulsey announced Thursday that he was mounting a last-minute write-in campaign, but if it appears the effort is helping Republican Governor Scott Walker, he will stop.

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