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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
Holiday Model Train Show Opens in MinocquaSubmitted: 11/28/2014

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MINOCQUA - If Black Friday and the snow didn't get you into the Christmas spirit just yet, a local train display could help.

The Northwoods Model Railroad Club opened Santa's Village Friday.

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Local author writes book after 11 years of researchSubmitted: 11/28/2014

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PRESQUE ISLE - You can learn a lot about your family history after 11 years of research.

Presque Isle's Richard Fields now knows five generations of his family name, and 1200 people related to him.

He started his research in 2003. Fields finished this year.

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Black Friday Shopping in the NorthwoodsSubmitted: 11/28/2014

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RHINELANDER - Many people woke up early and headed to the store for Black Friday.

It is considered one of the biggest shopping days of the year because it can mark the start of the holiday shopping season.

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Northwoods Children's Museum hosts turkeys for educationSubmitted: 11/28/2014

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EAGLE RIVER - People who head to the Northwoods Children's Museum will get a special surprise.

The museum in Eagle River is hosting a couple of live turkeys this month.

Workers say the live animals help children understand exactly where their Thanksgiving meals come from.

The program has been running for about 10 years.

Turkey and Tradition draws a lot of people to Eagle River every November.

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Wisconsin's wolf hunt may soon come to an endSubmitted: 11/28/2014

MADISON - Wisconsin's wolf hunt may soon come to an end.

Hunters are four wolves shy of Wisconsin's statewide kill limit, throwing the prospect of using dogs in this year's hunt into doubt.

State tallies show hunters had taken 146 wolves as of Thursday, just short of the 150 wolf limit.

The 2012 Republican law that created Wisconsin's wolf hunt allows hunters to use dogs to trail wolves beginning the first day after the end of the nine-day gun deer season.

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Funeral set for 3 children who died in U.P. crashSubmitted: 11/28/2014

DAGGETT, MI - A funeral has been scheduled for the three children killed in a weather-related crash in the Upper Peninsula.

TV station WBUP-WBKP reports (http://bit.ly/1vpSGy8 ) the funeral for Michael, Maxwell and Joelle McCue is set for Sunday at the Carney Free Church in the Menominee County community of Carney. The children ages 11 to 14 died Monday after their van smashed into a semi-truck on snowy U.S. 41 near Daggett.

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What We're Working OnSubmitted: 11/28/2014

- People in the Northwoods didn't let the chillier temperatures stop them from heading out for Black Friday this morning.

- Kids in Eagle River got a special treat at the Northwoods Children's Museum. The museum brought in two live turkeys for their annual Turkey and Traditions event. Every November, two turkeys are brought in to help teach kids about where their Thanksgiving meal comes from. Hear about the importance of the program coming up on Newswatch 12 tonight.

- If you're not in the Christmas spirit yet, a local model train show can help transport you to Santa's Village.

- And homemade pizzas turn into more than sauce and dough at one Eagle River household. We'll meet Gary Anderson tonight on Newswatch 12 and tell you how his pizza making turned into a fundraising tool to help people in the Northwoods.

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

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