Robert W. Baird & Co. has added Denise Wypiszenski as Managing Director, Chief Operating Officer of Baird's Private Wealth Management group. Wypiszenski will focus on supporting Baird's Financial Advisors and branch offices nationwide to better serve clients and grow the business. She also will help advance ongoing recruitment, financial advisor training and other key strategic initiatives. The company has also opened new Private Wealth Management offices in other key markets including Winston-Salem, Denver, Sacramento, Calif., Baltimore and Easton, Md., Minnetonka, Minn., and Philadelphia, and announced plans to open offices in San Francisco and Nevada. Some of Baird's other businesses including Investment Banking and Public Finance have opened offices in these new markets as well.

Maslon Edelman Borman & Brand, LLP and LaVelle & LaVelle, PLC have filed a class action complaint in the United States District Court for the District of Arizona against various parties associated with the issuance of the Industrial Development Authority of the County of Yavapai $35,000 000 Convention Center Facilities Excise Tax Revenue Bonds, Series 2005. The complaint, which was filed on behalf of those who purchased the Bonds following their issuance in November 2005 through October 31, 2006, alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Bonds were issued for the purpose of financing the building of a 5,000 seat event center in Prescott Valley, Arizona. The defendant parties include brokerages Robert W. Baird & Co., M.L. Stern & Co., LLC, and Edward D. Jones & Co., L.P. They also include the Town of Prescott Valley, Arizona, the Prescott Valley Event Center, LLC, and various developers and other business interests involved in or associated with the Official Statements used to market the Bonds. Two law firms and several individuals are also named as defendants. The complaint alleges that the defendants violated Sections 10(b) and 20(a) of the Exchange Act by failing to disclose material facts in connection with the offering and sale of the Bonds, thereby misleading investors. Specifically, the complaint alleges that the defendants failed to disclose the following material facts in the Bonds' Official Statements: (1) the Event Center could not generate sufficient operating and sales tax revenues to make the project economically feasible, service the debt, and support an investment-grade rating for the Bonds; (2) a preliminary feasibility report indicated that the population and number of households in the market area of the Event Center were extremely low in comparison with market areas with comparable event centers; (3) the projected number of events at the Event Center, the projected attendance at those events, and the projected operational and sales tax revenue generated from them were inflated; and (4) certain defendants terminated the independent third party that prepared the preliminary feasibility report rather than permit that party to review the inflated projections.

Nautilus, Inc. announced that the Company will in the future focus its resources on its branded consumer businesses. Accordingly, the Company is actively seeking buyers for substantially all of the assets, liabilities and ongoing operations of its commercial business. This is a further step in the Company’s restructuring plan of improving its cost structure and focusing on the consumer market through the direct and retail businesses. The Company announced in August 2009 that it was making a strategic change to focus its efforts on a consumer business model and, as a result, would begin exploring strategic alternatives for its commercial business. After discussions with potential acquirers for the entire commercial business, the Company believes that its shareholders will benefit from the orderly disposal of assets associated with the commercial business either by selling the entire commercial business as one entity or selling individual assets. Assets of the Company’s commercial business include a manufacturing facility and three warehouses in Virginia; the StairMaster cardio brand and related stepper and StepMill lines; the commercial indoor cycling line including the newly launched Authentic Cycling bikes with true power measurements; and commercial strength and cardio equipment including the Nautilus ONE strength line. Liabilities of the commercial business include normal trade payables and accrued expenses, such as warranty obligations. The main sales office for Europe, Middle East & Africa is located in Cologne, Germany and the main sales office for North America and Asia-Pacific/ Latin America is located in Vancouver, Washington. "We believe this divestiture is in the best interest of our shareholders and will enable us to improve margins, utilize capital more efficiently, and focus our organization on the branded consumer fitness business where we see superior growth opportunities," stated Edward Bramson, Chairman and Chief Executive Officer of Nautilus, Inc. "Our business model and operations are now positioned to place greater emphasis on the brands in our direct-to-consumer and retail businesses and will enable us to better leverage our restructured consumer operating model. While recent results in our commercial business did not meet expectations, we continue to believe that Nautilus Commercial has many attractive and under exploited assets in the commercial fitness equipment market. Mr. Bramson concluded, “Many of our leading fitness brands including Nautilus and Schwinn have strong recognition and customer loyalty in both the commercial and consumer markets. In addition to the pure consumer brand, Bowflex, we will be retaining the Nautilus, Schwinn, and Universal brands as part of our ongoing consumer efforts through our direct and retail businesses. This will enable consumers to bring brands they associate with leading strength and cardio fitness equipment into their homes." As previously announced, the Company has engaged Robert W. Baird & Co., whom will now actively assist in the sale of the commercial business.