Marine finalizes acquisition of bank branches
Onalaska-based Marine Credit Union finalized the acquisition of 10 branches from Old National Bank in a deal announced in April.
The branches opened as Marine Credit Union on Monday after the sale closed Friday. Marine acquired about $240 million in deposits through the agreement.
Marine currently has offices in Chippewa Falls, Eau Claire and Prairie du Chien, with nearby Old National Bank locations that were part of the acquisition.
“For ease and efficiency,” reads a news release, “Marine will consolidate to a single office in those communities by the end of the year.”
Harley to recall 178K bikes
DETROIT — Harley-Davidson is recalling nearly 178,000 motorcycles in the U.S. because they can get stuck in gear due to a clutch problem.
Documents posted Tuesday by the National Highway Traffic Safety Administration say clutches can leak fluid internally, making it so the clutch doesn’t have enough lift to disengage the bikes from gears. The safety agency says that can cause riders to lose control and increase the risk of a crash.
The Milwaukee-based company says it has reports of five crashes with no injuries.
Affected models include the 2017 and 2018 Police Road King, Road King, Road King Special, Electra Glide Ultra Classic, Ultra Limited, Ultra Limited Low, Ultra Limited Shrine, Police Electra Glide, Street Glide, Street Glide Special, Road Glide Ultra, Road Glide, Road Glide Special, Freewheeler, Tri Glide Ultra, CVO Limited, and the CVO Street Glide.
Also covered are the 2017 Softail Slim S, Fat Boy S, CVO Pro Street Breakout, and the 2018 115th Anniversary Ultra Limited, 115th Anniversary Street Glide, 115th Anniversary Street Glide Special, 115th Anniversary Tri Glide Ultra, 115th Anniversary CVO Limited and CVO Road Glide.
Dealers will install a new secondary clutch actuator piston assembly at no cost to owners. The recall is expected to start on Nov. 5.
Ad spending up
for video services
LOS ANGELES — Streaming video platforms led by Netflix spent more than $55 million on advertising over the summer, a 46 percent increase over a year ago, according to a report released Tuesday.
Netflix spent an estimated $31 million to promote 100 shows with more than 900 ads across websites, TV networks and print publications, according to data from MediaRadar.
MediaRadar CEO Todd Krizelman said ad spending has increased as more companies develop original shows. That puts more pressure on companies like Netflix, which already outspends its competitors on ads.
From staff reports, news services
For example, Hulu had only 225 summer ads.
“For (Netflix) to have the level of success that they are having, they have created all of these different forms of content, and that content has to be marketed for people to know it exists for them,” Krizelman said.
MediaRadar’s report tracked six platforms that stream video over the internet, including Amazon Prime Video, Hulu, YouTube Premium, Facebook Watch and HBO Now.
The ad spending surge is driven by rising competition among streaming platforms. Netflix alone is projected to spend as much as $13 billion on original productions this year.
“In today’s landscape, you are looking for audience wherever the audience goes,” Krizelman said. “To get more of their time means to be in front of them in other environments.”
Facebook has been rolling out ads to raise awareness of its video platform, Facebook Watch, including one that recently aired on “Saturday Night Live,” Sibyl Goldman, director of entertainment partnerships, said in an interview this month.
The social network has marketed such shows as “Sorry for Your Loss,” in which actress Elizabeth Olsen portrays a young widow struggling with grief. Still, some critics say that many people don’t know what Facebook Watch is, even though it launched last year.
Krizelman says he expects more ad spending this winter, when some platforms launch shows and TV network programs are on a break. It takes “advantage of viewers staying in to binge shows, while avoiding the cold,” he said.