Military Appreciation Night set as Aces host Wichita State
Aces and Shockers to square off on Tuesday evening
  Military Appreciation Night will take place on Tuesday evening when the University of Evansville men’s basketball team plays host to Wichita State at 8 p.m. inside the Ford Center.
All current and former military personnel receive two free tickets to the game with their military ID. Tuesday’s contest against the Shockers will hold a special place in the heart of Solomon Hainna following his military service. Hainna served in the Air Force for five years before embarking on his college basketball career; coincidentally, his first Division I game against Louisville took place on Veteran’s Day.
Tuesday’s game will mark the 100th contest at the Ford Center for the Aces. In the first 99 games, UE has posted a record of 72-27, a .727 winning percentage. Evansville opened the arena with a thrilling 80-77 overtime win against defending National Finalist Butler and has won three games against seven ranked opponents at the facility.
A late rally on Saturday saw Southern Illinois come away from the Ford Center with a 73-61 win over the Aces. For the second game in a row, Ryan Taylor and Jaylon Brown registered 19 points apiece; over the last two games, the duo has recorded 76 of the Aces’ 112 total points, 67.9% of the offense. David Howard had another steady game, finishing with 6 points and 6 rebounds; he has averaged 8.0 rebounds over the last two contests. Dru Smith added a pair of triples against the Salukis on Saturday; in three games since his return from injury, Smith has hit 4 of his 10 attempts from outside.
Senior David Howard has put together two of his top games at UE over the last week against Missouri State and Southern Illinois. He fell just shy of the first double-double of his career, tallying a career-best 10 rebounds and 8 points against the Bears; he followed that up with a 6-point, 6-rebound game against the Salukis. Howard leads the way on the boards for the Aces with 5.1 per game; he has averaged 7.3 over the last three contests.
Preseason Missouri Valley Conference favorite Wichita State enters Tuesday’s meeting with an overall mark of 15-4 and a 5-1 league record. The Shockers saw a 6-game win streak halted on Saturday night, dropping a 76-62 game at Illinois State. Markis McDuffie is one of three WSU players to average double figures, standing at 12-5 points per game. Just behind him is Darral Willis Jr., who checks in with 12.1 points and a team-best 6.2 boards; Landry Shamet is averaging 10.6 PPG. Willis and Shamet paced the Shockers on Saturday against the Redbirds, scoring 14 points apiece.
Winning the last seven meetings against the Aces, the Shockers own a 29-16 edge in the overall series. Evansville owns an 11-10 advantage in home games, but WSU has defended its home court against UE, going 17-5 in 22 meetings in Wichita.
Eagles upset bid comes up short in battle for first place
Despite getting a career-high 30 points from senior guard Tanner Marcum (New Albany, Indiana), University of Southern Indiana Women’s Basketball could not hang on to a late lead as No. 4 Bellarmine University handed the Screaming Eagles an 88-83 setback in a battle for first place in the Great Lakes Valley Conference East Division Monday evening at the Physical Activities Center.
USI (14-3, 6-1 GLVC) led 74-71 with just over four minutes to play when the Knights went on a decisive 9-0 run to take a six-point lead with less two minutes on the clock.
The Eagles trailed 82-76 with less than a minute to play and 84-78 with 45 seconds to play. Marcum hit 3-of-4 free throws in the next 21 seconds to cut USI’s deficit to just three points; then scored a jumper following a Bellarmine turnover to get the Eagles to within one (84-83) with 21 seconds remaining.
USI had a chance to tie the game with 14 seconds left following a pair of Bellarmine free throws, but Marcum, who was heavily guarded, could not get a shot off as USI coughed the ball up with less than five seconds on the clock. Senior guard Kelsey Adwell hit two free throws with less than a second to play to ensure the victory for the Knights.
Marcum sparked the Eagles throughout a contest that featured five ties and eight lead changes. She had 11 points in the opening period as USI overcame a 5-0 deficit to build a 17-9 lead with just over a minute to play in the period.
Bellarmine (15-1, 7-0 GLVC), however, scored seven straight points to get to within one heading into the second frame. USI led by four with just under seven minutes to play in the second quarter, but a 10-0 Bellarmine run put the Eagles in a six-point hole with four minutes to play in the half.
Junior guard Randa Harshbarger (Philo, Illinois) hit a pair of buckets as USI closed the gap to just two; but the Eagles failed to score for the final 2:40 of the half as Bellarmine took a 32-28 lead into the break. Harshbarger’s three-pointer two minutes into the third quarter tied the contest at 36, while back-to-back layups by senior forward Hannah Wascher (Rantoul, Illinois) put USI up 40-36.
USI led by as many as five points in the third quarter and 59-57 heading into the final period. The two teams traded buckets early in the final quarter, but a three-pointer by junior guard/forward Kaydie Grooms (Marshall, Illinois) staked USI its largest lead of the period (68-64) with just under eight to play.
In addition to Marcum’s 30 points and six rebounds, USI also got 15 points and three assists from Harshbarger as well as 13 points, seven rebounds and three blocks from Wascher. Grooms added 13 points, six rebounds and two blocks before fouling out with just under two minutes to play.
Junior forward Morgan Dahlstrom (Grayslake, Illinois) also added eight points, nine rebounds, and two blocks for the Eagles, who shot 50.8 percent (31-61) from the field and out-rebounded the Knights, 39-28.
Senior guard Whitney Hartlage had 17 points and four steals to pace the Knights, who also shot 50.0 percent (30-60) from the field.
USI returns to action Thursday when it hosts the University of Wisconsin-Parkside at the PAC.
Newspaper Box Score
Bellarmine vs Southern Indiana
01/16/17 5:30 p.m. at Evansville, IN (PAC)
BELLARMINE 88, SOUTHERN INDIANA 83
BELLARMINE (15-1, 7-0 GLVC)
Hartlage, Whitney 5-6 4-4 17; Curry, Destony 6-12 1-3 14; Merriweather, Raven 4-13 5-5 13; Galvin, Sarah 5-8 2-3 12; Berry, Mikayla 3-5 3-4 11; Bowers, Beth 3-10 1-4 7; Mayhaus, Ally 2-2 2-2 6; Adwell, Kelsey 2-4 2-2 6; Sandusky, Serena 0-0 2-2 2; Tibbs, Liza 0-0 0-0 0; Downey, Katie 0-0 0-0 0; Bewley, Hannah 0-0 0-0 0. Totals 30-60 22-29 88.
SOUTHERN INDIANA (14-3, 6-1 GLVC)
Marcum, Tanner 9-16 11-12 30; Harshbarger, Randa 5-9 4-5 15; Grooms, Kaydie 6-11 0-0 13; Wascher, Hannah 6-9 1-2 13; Dahlstrom, Morgan 3-9 2-2 8; Brewer, Tasia 2-5 0-0 4; Eschweiler, Kacy 0-1 0-0 0; Savickaite, Ruta 0-1 0-0 0; Sherwood, Morgan 0-0 0-0 0. Totals 31-61 18-21 83.
Bellarmine………………..  16  16  25  31 -  88
Southern Indiana…………..  17  11  31  24 -  83
3-point goals—Bellarmine 6-14 (Hartlage, Whitney 3-4; Berry, Mikayla 2-4; Curry, Destony 1-2; Bowers, Beth 0-1; Merriweather, Raven 0-3), Southern Indiana 3-10 (Harshbarger, Randa 1-2; Grooms, Kaydie 1-4; Marcum, Tanner 1-1; Brewer, Tasia 0-2; Eschweiler, Kacy 0-1).
Fouled out—Bellarmine-None, Southern Indiana-Grooms, Kaydie.
Rebounds—Bellarmine 28 (Mayhaus, Ally 6), Southern Indiana 39 (Dahlstrom, Morgan 9).
Assists—Bellarmine 15 (Merriweather, Raven 4), Southern Indiana 13 (Harshbarger, Randa 3; Marcum, Tanner 3).
Total fouls—Bellarmine 18, Southern Indiana 23.
Technical fouls—Bellarmine-None, Southern Indiana-None.
A—2600
Bellarmine is ranked 4th WBCA/9th D2SIDA.
IS IT TRUE JANUARY 17, 2017
IS IT TRUE when you get your property taxes bill mailed to you in the near future please give proper credit to the “2016 City Council Leadership” of Mosby, Weaver and McGinn who mastermind the tax increase?
IS IT TRUE “The Greatest Show on Earth†is coming to a close?…the Ringling Brothers and Barnum and Bailey Circus is shutting down after 146 years in operation?…the CEO of the operation stated that low ticket sales and the rising cost of running the circus both contributed to the difficult decision to shut down what has been a staple of American entertainment for over a century?…this could be a predictor for a future when the Shrine Circus also ceases operation for the same reasons that Ringling Brothers decided to close down?..the Shrine Circus  held at the Ford Center still draw some of the largest crowds of the year to the Ford Center in downtown Evansville?…we wonder if it wouldn’t be wise to start looking for another Thanksgiving week family entertainment option to avoid spoiling a very long tradition?
IS IT TRUE the United States Department of Agriculture (USDA) just released its latest statistics on what it will cost to raise a child born now to adulthood and it is an eye popper?…a little bundle of joy born today will cost on average a total of $233,000 excluding the $15,000 it costs to be born in a hospital?…if all young people were forced to learn this number before they reach the age of conceiving, that number alone should promote practicing birth control?…for lack of self control and/or $1 or less per day for birth control, young people who are eager to have sex but not even close to being ready to be parents can avoid a $233,000 surprise?
IS IT TRUE many of the readers of the City County Observer have expressed surprise that lifetime Democrat, Evansville City Council President Missy Mosby allowed a Republican to be appointed to serve as her Vice President?  …this was predictable when Mosby and her ousted Vice President  of Council Councilman Jonathan Weaver started chumming around with the beautiful people of Evansville, most of whom happen to be Republicans?
IS IT TRUE in the spirit of “SNEGAL” (sneaky but legal), there is another new word floating around the political world?…the word is “BLOOPY”, which means bad judgement and loopy?…a good example of “BLOOPY” is making a decision to place community use trust bicycles in a high crime zone?…cities across the country have been losing these single use trust bicycles disappear faster that a snowball on a hot summer day?  …we wonder if similar is happening in Evansville?…leaving something with immediate cash value out for all to steal as they wish makes about as much sense as leaving a drunkard in charge of a liquor stash, or a drug addict in charge of the keys to the oxycodine?…to those who made this decision, we gotta ask what the heck were you thinking?
FOOTNOTE: We would like to personally thank our good friend Joe Wallace for helping us write our IS IT TRUE  articles during the last several weeks. Our Publisher is now quieting resting at home and is beginning to show some positive progress. We would also like to thank the many people for the get well cards, phone calls, personal visits and prayers on behalf of Ron.  It looks like your support is helping him to turn the corner.
We highly recommend that you take time and pull up the Channel 44 link posted on the upper right hand corner in our publication.
Bankruptcy Trustee Appears Poised To Sue Former ITT Brass
Greg Andrews for www.theindianalawyer.com
ITT Educational Services Inc.’s bankruptcy trustee has launched a no-holds-barred investigation into the defunct company’s business practices—a move that appears likely to pave the way for her to sue former officers and directors, including CEO Kevin Modany and Chief Financial Officer Kevin Fitzpatrick.
Trustee Deborah Caruso could not be reached for comment, but attorneys representing her wrote in a filing: “The trustee believes that the estates have causes of action against certain of the debtors’ former directors and officers.â€
In a separate statement issued Jan. 5, Caruso suggested a thicket of government litigation pending against the company and top executives could serve as a template for her own lawsuit.
Those cases include a 2014 predatory-lending lawsuit from the federal Consumer Financial Protection Bureau and a 2015 fraud suit from the U.S. Securities and Exchange Commission. That suit asserts that Modany and Fitzpatrick concealed from investors the “extraordinary failure†of two off-balance-sheet student loan programs and “routinely misled†its auditor on numerous fronts.
“The complaints filed by the states, the SEC and the CFPB are a road map, but the trustee has to travel down the road independently to make sure the claims are valid,†Caruso said in her statement.
Chasing insurance jackpot
A successful suit against Modany and Fitzpatrick, who earned millions leading the company, potentially could put their personal assets at risk. But the real pot of gold is directors-and-officers liability insurance coverage, court records show.
That coverage totals $40 million. In a side dispute that broke out in bankruptcy court, Caruso is trying to put government lawsuits on hold—in part to prevent executives from tapping that coverage for their defense costs, thereby depleting what she might be able to collect.
In all the litigation, ITT and top executives have denied wrongdoing. Asked to comment on the trustee’s plans to sue insiders, Modany’s attorney, Rachel Jaffe Mauceri of Morgan Lewis Bockius in Philadelphia, and Fitzpatrick’s attorney, Darren Azman of McDermott Will & Emery in New York, declined to comment.
The company dismissed its 8,000 employees and shut down its 130 ITT Technical Institutes in 38 states on Sept. 6—driven under by federal sanctions, including a prohibition against providing financial aid to new students. The government said it tightened the screws because it had “significant concerns about ITT’s administrative capacity, organizational integrity, financial viability and ability to serve students.â€
In short, ITT was under unprecedented scrutiny over whether its expensive diplomas (a two-year associate’s degree ran some $45,000) were leaving students awash in debt while failing to properly prepare them for gainful employment.
Court records show that Caruso’s inquiry will include gathering documents and deposing personnel at PricewaterhouseCoopers, which was ITT’s auditor before quitting in 2014, and Deloitte & Touche, which stepped in as PwC’s successor.
‘Enormous task’
Caruso, a bankruptcy attorney with the Indianapolis law firm of Rubin & Levin, is trying to scrape together as large a recovery as possible for creditors—a challenge exacerbated by the reality that ITT has few assets beyond its real estate and equipment. In a filing in October, the company estimated it has assets of $389 million and liabilities of $1.1 billion.
“Resolving these claims is an enormous task for a company in a traditional restructuring, such as a retailer,†Caruso said in her statement, “but it is made even more complicated where there are several thousand potential student claimants—each with a unique, heartfelt story to tell—and no one left at ITT to verify their assertions, or assist in the response to the allegations.â€
It’s not unusual for brass of a company to come under legal attack after it collapses. Last year, for instance, the Federal Deposit Insurance Corp. reached a $15 million settlement with three former officers of Columbus, Indiana-based Irwin Union Bank, which failed during the financial crisis.
The FDIC charged the trio “closed their eyes to known risks†in approving 19 loans that caused at least $42 million in losses. The executives admitted no wrongdoing, and all the settlement proceeds came from insurance coverage.•
2017 Indiana State of the State Address Will be Tuesday, January 17, 2017
INDIANAPOLIS – Indiana Governor Eric Holcomb will host his first State of the State Address Tuesday, January 17, 2017, in the chamber of the Indiana House of Representatives. The address will be broadcast live statewide.
WHAT:Â Â Â Â Â Â Â Â Â Â 2017 State of the State Address
WHO: Â Â Â Â Â Â Â Â Â Â Â Indiana Governor Eric Holcomb
WHEN:Â Â Â Â Â Â Â Â Â Â Tuesday, January 17, 2017
7 p.m. EST
WHERE:Â Â Â Â Â Â Â Â Indiana House of Representatives Chamber-Indiana Statehouse
Each year, Indiana’s Governor addresses both houses of the state legislature, the state’s Supreme Court Justices, and other state leaders at the beginning of the legislative session in the State of the State Address. It provides an opportunity for the Governor to report on the status quo of the state’s affairs, highlight key accomplishments of the past year, and outline key priorities for the year ahead.
COMMENTARY: YEAR END PLANNING STRATEGIES IN LIGHT OF NEW TAX LAW BY JOHN FRIEND
YEAR END PLANNING STRATEGIES IN LIGHT OF NEW TAX LAW
Written By John Friend, CPA of John Friends And Associates
Congress is enacting the biggest tax reform law in thirty years, one that will make fundamental changes in the way you, your family and your business calculate your federal income tax bill, and the amount of federal tax you will pay. Since most of the changes will go into effect next year, there is still a narrow window of time before year-end to soften or avoid the impact of changes and to best position yourself for the tax breaks that may be heading your way. Here is a quick rundown of last-minute moves you might think about making.
Lower Tax Rates Coming
If you are about to convert a regular IRA to a Roth IRA, postpone your move until next year. That way you will defer income from the conversion until next year and possibly have it taxed a lower rates.
The reduction or cancellation of debt generally results in taxable income to the debtor. So if you are planning to make a deal with creditors involving debt reduction, consider postponing action until January to defer any debt cancellation income into 2018.
Disappearing Or Reduced Reductions, Larger Standard Deduction
Individuals will only be able to claim an itemized deduction of up to $10,000 (for a joint return) for the total of (1) state and local property taxes; and (2) state and local income taxes. To avoid this limitation, pay the last installment of estimated state and local taxes for 2017 no later than Dec. 31, 2017, rather than on the January, 2018, due date. But don’t prepay in 2017 a state income tax bill that will be imposed next year – Congress says such a prepayment won’t be deductible in 2017. However, Congress only forbade prepayments for state income taxes, not property taxes, so a prepayment on or before Dec. 31, 2017, of a 2018 property tax installment is apparently okay.
The itemized deduction for charitable contributions won’t be removed. But because most other itemized deductions will be eliminated in exchange for a larger standard deduction ($24,000 for joint filers), charitable contributions after 2017 may not yield a tax benefit for many because they won’t be able to itemize deductions. If you think you will fall in this category, consider accelerating some charitable giving into 2017.
The new law temporarily boosts itemized deductions for medical expenses. For 2017 and 2018 these expenses can be claimed as itemized deductions to the extent they exceed a floor equal to 7.5% of your adjusted gross income. Before the new law, the floor was 10% of adjusted gross income, except for 2017 it was 7.5% of adjusted gross income for age 65-or-older taxpayers. But keep in mind that next year many individuals will have to claim the standard deduction because, for post-2017 years, many itemized deductions will be eliminated and the standard deduction will be increased. If you won’t be able to itemize deductions after this year, but will be able to do so this year, consider accelerating “discretionary†medical expenses into this year. For example, before the end of the year, get new glasses or contacts, or see if you can squeeze in needed dental work.
Other Year End Strategies
The new law substantially increases the alternative minimum tax (AMT) exemption amount, beginning next year. There may be steps you can take now to take advantage of that increase. For example, the exercise of an incentive stock option (ISO) can result in AMT complications. So, if you hold any ISOs, it may be wise to postpone exercising them until next year. And, for various deductions such as depreciation and the investment interest expense deduction, the deduction will be curtailed if you are subject to the AMT. If the higher 2018 AMT exemption means you won’t be subject to the 2018 AMT, it may be worthwhile, via tax elections or postponed transactions, to push such deductions into 2018.
Like-kind exchanges are a popular way to avoid current tax on the appreciation of an asset, but after Dec. 31, 2017, such swaps will be possible only if they involve real estate that isn’t held primarily for sale. So if you are considering a like-kind swap of other types of property, do so before year end. The new law says the old, far more liberal like-kind exchange rules will continue to apply to exchanges of personal property if you either dispose of the relinquished property or acquire the replacement property on or before Dec. 31, 2017.
For decades, businesses have been able to deduct 50% of the cost of entertainment directly related to or associated with the active conduct of a business. For example, if you take a client to a nightclub after a business meeting, you can deduct 50% of the cost if strict substantiation requirements are met. But under the new law, for amounts paid or incurred after Dec. 31, 2017, there is no deduction for such expenses. So if you’ve been thinking of entertaining clients and business associates, do so before year end.
The new law suspends the deduction for moving expenses after 2017 (except for certain members of the Armed Forces), and also suspends the tax-free reimbursement of employment-related moving expenses. So if you’re in the midst of a job-related move, try to incur your deductible moving expenses before year-end, or if the move is connected with a new job and you’re getting reimbursed by your new employer, press for a reimbursement to be made to you before year-end.
Under current law, various employee business expenses, such as home office expenses, are deductible as itemized deductions if those expenses plus certain other expenses exceed 2% of adjusted gross income. The new law suspends the deduction for employee business expenses paid after 2017. So, we should determine whether paying additional employee business expenses in 2017, that you would other wise pay in 2018, would provide you with an additional 2017 tax benefit. Also, now would be a good time to talk to your employer about changing your compensation arrangement – for example, your employer reimbursing you for the type of employee business expenses that you have been paying yourself up to now, and lowering your salary by an amount that approximates those expenses. In most cases, such reimbursement would not be subject to tax.
BRYAN FOX TO WRITE RESTAURANT, CONCERT AND MOVIE REVIEWS FOR CITY COUNTY OBSERVER
BRYAN FOX TO WRITE RESTAURANT, CONCERT AND MOVIE REVIEWS FOR CITY COUNTY OBSERVER
Starting later this week well known free lance writer BRYAN FOX Â shall be publishing articles of the entertainment nature. Â He shall be writing Restaurant, Concert and Movie reviews for the City County Observer.
Bryan Fox. has lived in the Newburgh area for most of his life. He graduated from Castle High School and from USI with a major in political science and a minor in economics.
He enjoys reading, debating, and writing about political issues. Â He publishes a blogwww.moviesorpolitics.blogspot.com where he does review s about current movies. Â As a new Entertainment writer for the City County Observer we expect Bryan to bring a new and exciting twist to the overall content of the CCO.
Bryan states ” he look forward to giving readers his input on local issues and sharing information that will be beneficial to the community. I hope you will enjoy reading my articles and that you will find them informative to your daily lives. Evansville/Vanderburgh and Warrick County area are a great place to live and my goals are to provide you with news that you’ll enjoy reading and with information that will be useful to you”.