Now is the time for the University of Wisconsin-Madison to forge a new partnership with the state to strengthen its position as an educator, job-creator and a pre-eminent research institution. To ensure its vitality in the 21st century, the university needs more flexibility to be effective so that it will remain an economic engine that can help lead our state out of its economic dilemma. [A column by Milwaukee business executives and UW-Madison graduates Jon Hammes and Sheldon Lubar].