Could this not be the perfect time for people to come togueter and start  new Company's.  There is a demand, with few to supply.

Why is it not happening?

Because they're all fighting to see who can bankrupt themselves faster on AAA HD Multiplats in an oversaturated market, or just redirect their Wii projects to the much more powerful and capable iPhone

Not like Wii owners would buy anything they'd have to sell anyway. Nintendo games only sell on Nintendo systems, after all.

not happening because they dont want to work on Wii, if they did they would, why they dont??? WHo knows

This generation is like 5 or 6 years deep...

If companies did not start making Wii games in 2008 when the Wii was blowin up like a propane tank, they never would. At this point in the Wii's lifetime, it will probably get a few 3DS/Wii multiplatform releases from 3rd parties. 

Also, it will get a the final hardcore games from Nintendo that either were not localized or merely backlogged from preparation of the 3DS launch. You can only succeed so many times before just accepting the fact that 3rd parties want nothing to do with ya :P

Goldeneye, Call of Dutys, MJ The Experience, Epic Mickey, de Blob 1, Just Dances, RE: Umbrella Chronicles, Monster Hunter Tri, Tiger Woods, Sonic, House of the Dead, RE4 Wii Edition, uDraw, Blazing Angels, Rabbids, Jett Rocket, Konami Rebirth series, LEGO series,  DBZ: Budokai Tenkaichi 3, Madden 06-09, Madworld, The Conduit, Dragon Quest Swords, Tatsunoko vs Capcom, Okami, Silent Hill, No More Heroes, Muramasa: The Demon Blade, Rune Factory Frontier.......

ONE MINUTE, TWENTY-SIX SECONDS PLEASE

Someone tell me what programes I need to make Wii games for God sake. If no ones going to cash in on this. I may as well!. 

Don't you count as a "garage developer", :P?

It's most likely due to the turn around time need to produce, market and release a game in this day is pretty long, a year min. Most developers are probably assuming a next generation nintendo system is right around the corner. To sink that much time and money into making a game that close to the end of a consoles cycle is risky, even for seasoned developers, let alone a new upstart.

Maybe a smaller developer could fill the void with a great WiiWare game, which takes much less time and money to produce, but a full blown wii game likely wouldn't be worth the risk to a new company.

The problem is they've been assuming a new system is imminent for the past three years, so it's just another excuse they were using.

Yep Regie said they wanted nothing to do with garage developer, sorry ;)

Perhaps because its way too late in the generation to make any kind of impact and establish a viable and commercially sound franchise from scratch? I think that's why.