Home Blog Page 6827

Wall Street Journal: “The Obama years have been brutal on middle-class incomes”

6

Excerpts:

The Presidential race is boiling down to one dominant issue: which party’s policies will do more to help the financially stressed American middle class. President Obama’s campaign theme is that Mitt Romney and the Republicans cater to the rich, while Mr. Obama cares about struggling families.

He may care, but he sure hasn’t done much for them. New income data from the Census Bureau, tabulated by former Census income specialists at the nonpartisan economic consulting firm Sentier Research, reveal that the three-and-a-half years of the Obama Presidency have done enormous harm to middle-class households.

In January 2009, the month President Obama entered the Oval Office and shortly before he signed his stimulus spending bill, median household income was $54,983. By June 2012, it had tumbled to $50,964, adjusted for inflation. (See the chart nearby.) That’s $4,019 in lost real income, a little less than a month’s income every year.

Unfair, you say, because Mr. Obama inherited a recession? Well, even if you start the analysis when the recession ended in June 2009, the numbers are dismal. Three years after the economy hit its trough, median household income is down $2,544, or nearly 5%.

Add the authors: “The overall decline since June 2009 was larger than the 2.6 percent decline that occurred” during the recession from December 2007 to June 2009. For household income, in other words, the Obama recovery has been worse than the Bush recession.

The President portrays the financial decline of American families on his watch as part of a decades-long trend. He’s wrong. Real income for middle-income households rose by roughly 30% from 1983 to 2005, according to the Congressional Budget Office. The political left likes to blame the ebbing of union power. But nongovernment unionization fell dramatically in the 1980s and ’90s, and incomes rose.

So what does explain falling real incomes? Slow growth, yes, but another culprit has been rising prices—especially for food, gasoline, medical procedures and college tuition—that have eroded worker purchasing power. The Federal Reserve claims this is no problem because “core inflation” has been relatively contained. But core inflation excludes food and energy prices, which are two of the biggest components of consumer budgets.

The big pay freeze is also the bitter fruit of public schools that have failed to teach the basic skills and knowledge needed to succeed in a competitive global economy. Rising health-care costs have also forced employers to take money that used to go into higher wages to pay higher premiums.

A key driver of higher wages in the 1980s and 1990s was a surge of capital investment in computers, plant and equipment, which made Americans workers more productive. When Mr. Obama pledges to raise taxes on investment income (capital gains, dividends and small-business profits), he is making it costlier to innovate and modernize. That plays out over time into slower gains in productivity and wages.

Consider the toll from America’s corporate tax rate, which is the highest in the industrial world. A 2011 study by economists at the American Enterprise Institute found that because of the capital flight from the U.S. as a result of this high rate, “every additional dollar of tax revenue [from the corporate tax] leads to a $4 decrease in aggregate real wages.” American workers would be the biggest beneficiaries of tax reform.

The new income data reveal other eye-opening trends. The group that has suffered the most during the Obama Presidency has been black Americans, whose real incomes have fallen by more than 11%.

Mr. Obama also likes to say that government workers like teachers are hurting and the private economy is doing “just fine.” But the data indicate that over the past three years households with government workers saw their incomes decline less than households with private workers. The public-private pay gap is now wider than ever ($77,998 government versus $63,800).

Every age group has seen a decline in income—except the elderly. Those between the ages of 65 and 75 saw an average 6.5% gain in income, though most are not working and collect Medicare and Social Security.

The last time incomes fell this fast was during the late 1970s under Jimmy Carter, and it’s no coincidence that economic policies then and now are so similar. If Mr. Obama succeeds in convincing voters that he really is the tribune of the middle class, it will be the political conjurer’s trick of the century.

http://online.wsj.com/article/SB10001424052702303822204577468750027784434.html

First Security Bank Buys Part of Integra Building to expand further into the Evansville, IN market

1

PRESS RELEASE
FOR: IMMEDIATE RELEASE

Subject: First Security Bank to expand further into the Evansville, IN market
DATE: August 23, 2012

For further information, please contact: M. Lynn Cooper, 270-663-4678, LCooper@FirstSecurity.net or Steve Witting, 812-759-2332, SWitting@FirstSecurity.net

Announced today was First Security Bank’s completed acquisition of approximately 74,000 square feet of office space, which was location to the Evansville, Indiana main office of the former Integra Bank. The space was purchased from the FDIC for an undisclosed amount. The facility is located at Twenty One Southeast Third Street in downtown Evansville.

The property purchased was floors; lower level, 1, 2 & 3 along with the parking lot directly across the street on the corner of Third Street and Locust.

M. Lynn Cooper, President and CEO stated “We are excited about continued expansion into the Evansville, Indiana market, which further solidifies our commitment to the area. This purchase will allow us to have the space we need to grow for years to come. We are enthused about expanding into an area where the city and county government leadership are very pro-business. We look forward to further possibilities of expansion into the area, which has proven very profitable for our company. ” Cooper further stated, “Since First Security will not initially utilize all of the office space in the newly acquired downtown Evansville location, we will be leasing some under-utilized space to others until we grow into the space.”

Steve Witting, Evansville President for First Security Bank stated, “The Evansville facility will provide us a way to serve much of our downtown and some Westside clients. We have some exciting ideas to develop additional clientele in the downtown area and look forward to growing even further in the Evansville market.”

The office is anticipated to open by year end pending regulatory approval. Also recently announced was the acquisition of the former Integra office in Newburgh on Highway 66 near Highway 261, which is expected to open next month.

First Security Bank has announced in 2012; opening a new office in Lexington, KY, renovating and opening a new headquarters location in downtown Owensboro, KY., acquiring the Newburgh, IN office scheduled to open in September, acquiring 4 branch locations in the Louisville market which is scheduled to close this fall and the new Evansville location in the downtown area, expected to open by year end.

Lacking ticket sales force World’s Toughest Rodeo to cancel event

0

NEWS RELEASE

FOR IMMEDIATE RELEASE CONTACT: Scott Schoenike

Friday, August 24, 2012 Executive Director Ford Center
(812) 422-8000 Office
Sschoenike@thefordcenter.com

Lacking ticket sales force World’s Toughest Rodeo to cancel event

Evansville, Ind. – The World’s Toughest Rodeo was forced to cancel its Evansville, Indiana event
scheduled for Saturday, September 1st due to lack of ticket sales. “It’s unfortunate that we have to cancel our event in Evansville. I really thought the Evansville market would support our event and buy tickets as an exciting, locally available holiday entertainment option,” stated Marla Morehead, Marketing Director of World’s Toughest Rodeo.

Refunds for this event will take place on Monday, August 27th, starting at 10:00am. If you purchased your
tickets through Ticketmaster.com or via phone, your tickets will automatically be refunded to you on Monday.

If you purchased your tickets at the Ford Center ticket office, you must return the tickets to the Ford Center ticket office starting on Monday to get your refund.

The ticket office is open 10:00am – 5:00pm, Monday through Friday.

For more information, contact Marla Morehead at thr@threehillsrodeo.com or by phone at (563) 652-3326.

BOARD OF COMMISSIONERS MEETING AGENDA

0

BOARD OF COMMISSIONERS MEETING AGENDA
EVANSVILLE CONVENTION AND VISITORS BUREAU
8:00 AM Tuesday August 28, 2012
The Pagoda
401 S.E. Riverside Drive
Evansville, IN

I. Call to Order by the Presiding Officer

II. Establish a Quorum

III. Approval of the Minutes from the Board Meeting dated, July 31, 2012, Roeder/Warren

IV. Approval of the Financial Statements dated August 24, 2012, Bauer/Warren

V. Committee Reports

A. Grants Committee, No Report, McCarty/Bauer/Montrastelle/Warren
B. Marketing Committee, Report, Action Item, Leader/Warren
C. Administration Committee, No Report, Bauer/Shaw/Montrastelle/Warren

VI. Action Items

A. Discuss and Consider for approval Sponsorship of the 2013 United Leasing Championship, Nationwide Golf Tournament, Leader/Roeder/Milligan/Warren

VII. Discussion Items

A. Update on Sports Facilities Tour for September 17-19, 2012 Montrastelle/Warren
B. Update on County Budget Process, Warren

VIII. Executive Directors Report
A. STR Report Update
B. Update on Tax Collections
C. Conventions and Meeting Sales, Higgins
D. Sports Marketing Department, Mourning
E. Tour and Travel, Leisure and Convention Services, Vezzoso
F. Marketing Department, Libs
G. Welcome Center Operations, Pillow

IX. Board Announcements

X. Adjourn

Gallup-Rasmussen Poll Average: August 24, 2012

2

The Rasmussen Tracking poll today shows Mitt Romney with a 46% – 45% lead President Obama Romney while Gallup’s Tracking poll shows Romney and Obama tied at 46% each.

The average of these two polls is now showing the Romney/Ryan campaign with 46% and the Obama/Biden at 45.5 both garnering slightly less support than last week.

The average approval rate for President Obama is now even meaning that the same percentage of those polled approve and disapprove of the Presidents job performance. The average approval rating for the President was 48.0% and the average disapproval was 48%.

In an examination of all polls published after August 13th and applying them to the elector count, if the election were held today and the most recent polls are accurate Romney would win the presidency over Obama by an electoral vote of 282 – 256

Superior Court Chief Judge Mary Margaret Lloyd announces the restructuring of the current court system

4

PRESS RELEASE
FOR IMMEDIATE RELEASE


Contact: Krista Hamby Weiberg
Vanderburgh Superior Court
Administrator
Phone: (812)435-5469

VANDERBURGH SUPERIOR COURT TO RESTRUCTURE ENTIRE COURT SYSTEM
EVANSVILLE, IN:

Superior Court Chief Judge Mary Margaret Lloyd announced the restructuring of the current court system in Vanderburgh County for the first time in over thirty (30) years. On September 1, 2012, Superior Court will create more specialized courts. Sweeping changes are being made in how the Courts address Class D Felony drug/alcohol offenses, juvenile court, and paternity cases. Lloyd stated the seven (7) Superior Court Judges along with Judge Carl A. Heldt of the Vanderburgh Circuit Courts have been collaborating on changing their system for months to address the pressing needs in our community.

“With the problems caused by methamphetamine and other illicit drug use on the rise, we knew we needed to address addictions at an earlier stage in court. Strong court intervention for the addict arrested for drug possession will hopefully stop the addict before he or she is arrested down the line for creating a methamphetamine lab,” Lloyd said. The Courts’ plan will utilize Judge Wayne S. Trockman’s expertise in court interdiction with addicts by assigning him to handle all Class D felony drug and alcohol cases filed in Superior and Circuit Court in addition to continuing his duties with the Drug Treatment Court. Judge Robert J. Pigman will be assigned to adjudicate all other felonies filed in Superior Court.

The Court restructuring will also allow more time and resources to be devoted to abused and neglected children. Juvenile Judge Brett J. Niemeier noted he sees more neglect cases and children needing services filed with his Court due to children living in houses where methamphetamine is made or used, and more newborn babies testing positive for illicit drugs due to their Mother’s usage during pregnancy. Prior to the reorganization, Juvenile Court heard all Juvenile Delinquencies, Children Needing Services (CHINS), Guardianships, Adoptions, Probate, and Paternity cases filed in Vanderburgh County. Increased State ordered procedures in juvenile cases, a steady increase in new paternity cases over the years, and an increased caseload of children needing services overburdened an already weighted down Juvenile Court.

To alleviate the Juvenile Court caseload, the paternity cases will be moved into the Domestic Relations Court. Four (4) Judges and one (1) Magistrate Judge will regularly hear all paternity and marriage dissolution cases in Vanderburgh County. Chief Judge Mary Margaret Lloyd will bring her experience from being a member of the Indiana Supreme Court’s Domestic Relations Committee to now address paternity cases. This committee created a domestic relation textbook for all Indiana trial judges, assisted the Supreme Court with amending its Indiana Child Support Guidelines, and aided in the creation of a free on-line child support calculator for parents to use. Lloyd also created the Family Court Project which assists indigent parties without attorneys in divorce cases. She will be assigned to this new division along with her fellow Judges Robert J. Tornatta, Richard D. D’Amour, and David D. Kiely. “Putting the paternities into the same court where dissolutions occur simply makes sense,” Lloyd said. “Marital status or lack thereof is not a factor when the Court orders or enforces child support.” She further explained that, “When deciding the custody of a child or parenting time, the Judge always first considers what is in the best interest of that particular child whether in a divorce or in a paternity matter.”

The Superior Court has always had innovative ideas to adjust to the changing issues affecting the public in Vanderburgh County. Among the various innovations are the Drug Treatment Court in both Juvenile and Adult Court, and the Family Court Project and Alternative Dispute Resolution Plan in Domestic Cases. The Court restructuring is the latest adaptation to better serve the community.

Keith Wallace, Candidate for Vanderburgh County Superior Court Judge questions Opponent’s Statements

13

Keith Wallace

FOR IMMEDIATE RELEASE
AUGUST 21, 2012
CONTACT KEITH WALLACE 812-463-2727

EVANSVILLE, IN – Keith Wallace, candidate for Vanderburgh County Superior Court Judge, today questioned his opponents’ recent statements as reported in an Evansville Courier and Press article regarding changes in the Vanderburgh Courts. “I do not want to allow my opponent to take credit for changes in Superior Court taking effect September 1st when she was the ONLY judge that voted against the changes,” Wallace said. “In the 6 plus years she has been supervisor of family court not one meaningful change has been made. During her tenure as supervisor of family court, Vanderburgh County was the only county of the 23 pilot counties in the project initiated by the Indiana Supreme Court that did not make one change in procedures consistent with the initiative. In addition, Vanderburgh County is the only county in Indiana with the system of rotating judges in and out of the different divisions on a monthly basis according to the State Court Administrator. While the recently announced change of having two judges sit in felony divisions is a step in the right direction, these changes do not address the continuing victimization of children in our local courts caused by the monthly rotation of judges in family court. Fortunately, many families never come to this court, but for families that do appear in family court, it is a travesty how the court operates. If people truly understood how the rotating of judges victimizes children, the public would demand a change. That is why I am running, to stop the rotation of judges in family court.”
Keith Wallace is running to sit full time in what is called Division IV or Family Court to protect children from the harm that comes to them resulting from the monthly rotation of judges. The current rotating family court system results in the parties feeling aggravated, bitter & angry because the parties leave feeling no one judge ever knew the whole story which is often true. When parents leave court with these feelings, their children suffer in a number of ways. In addition to the benefits children will receive when Vanderburgh County has a full time judge or judges sitting in family court, other benefits will include fewer domestic violence calls for police and sheriff deputies, less disruption in the classrooms for teachers and more efficient use of limited public financial resources—saving taxpayer’s money.

Keith is an Evansville native, has practiced law for almost 30 years and assisted with close to 5000 adoptions—domestic and international. He has served and volunteered for numerous local organizations and charities mostly related to children. He has received a number of awards including an “Angel in Adoption” by the Congressional Coalition on Adoption Institute.

IS IT TRUE August 24, 2012

4

The Mole #??

IS IT TRUE August 24, 2012

IS IT TRUE that today’s EPD Activity Report is another long one checking in at 15 pages with a whole range of crimes committed by locals?…that it seems as though STEALING things from others is a habit that some Evansvillians just can’t seem to break?…that STEALING goes hand in hand with drug abuse and that METH is a problem that is out of control?…that we wish to thank everyone who is working to try to blunt this problem but in reality it is the meth head’s responsibility to seek help?…when or if the Meth problem starts to diminish the STEALING will slow down as well?

IS IT TRUE that we are wondering what has happened to the gateway programs that were supposed to make in particular the entrance to Evansville from the airport coming down 41 North a more appealing drive?…that northern corridor is defined by grass that is so tall that a city inspector could cite the medians and both sides for exceeding the allowable limit?…the same old billboards, empty industrial buildings, random semi-trailers left in parking lots, no-tell motels, and of course a big new jail are still the welcome route to the City of Evansville?…once one turns onto the Lloyd Expressway it gets even worse looking more like Detroit than comfort should allow?…that despite the sincere and diligent efforts off Mayor Winnecke and the chicken fat gang the litter is still one of the dominant characteristics that sticks into the mind of visitors?…this problem will only be fixed when the pride of community that some places still have sets in here?

IS IT TRUE Mitt Romney announced a plan yesterday that he claims will make America energy independent by 2020?…this plan appears to leverage the known natural assets that we know we have like natural gas, coal, oil, etc. to accomplish energy independence?…the big departure from the status quo that the Romney plan will put into place is that each state will be the decision maker regarding things like drilling and mining?…one of the important things to manage correctly in a less regulated country will be what happens on the vast federally owned lands?…that energy independence is becoming a strategic necessity to be able to function in the modern world?…with gasoline once again approaching $4 per gallon and with the tarnished reputation of renewable technologies like wind and solar that is part of the fallout from failed stimulus investments it seems as though fossil fuel managed responsibly is the only bridge to energy independence available to us?

IS IT TRUE opening up competition across state borders and allowing consumers to make decisions to save money by choosing when to buy energy would also contribute to energy independence?…that wholesale electricity prices change continuously and typically vary from as low as a fraction of a cent per kWh to over $1 per kWh during a 24 hour cycle?…the archaic pricing plans of the utilities and the commissions that regulate them do not allow consumers to benefit from this phenomena by doing things like running appliances at night?…the Solyndra debacle has soured many private investors on energy technologies which is starving development efforts of much needed cash in energy storage and renewable?…the well meaning but misguided regulations and investments made by the Obama Administration are to a large extent the driver behind the malaise in the renewable area?…this is just one more example of why government needs to get out of the way of business and people when it comes to commercialization efforts?…that government has a good track record on basic research but seems to botch up every commercialization effort it touches?

IS IT TRUE the states in traditional fossil energy production like North Dakota and Texas have been the source of much of the job growth during the last 4 years?…if what has happened in those states is any indication of what private business can do to jump start the economy then a responsible bridge to a future of energy independence that involves a short term focus on fossil fuels should really help slay the recession monster?…we should still keep up the research in renewable energy and dream of a day when the schemes like Solyndra can become dreams of clean yet cost effective energy?…as long as people in small one bedroom apartments in Evansville are getting energy bills of nearly $200 per month and rising energy prices will continue to blunt investment and lifestyles?

Anchors Aweigh: Cruisin’ on the Ohio

0

August 25, 2012

Don your favorite cruise attire and come aboard at our local port of call — the Evansville Museum — for an exciting evening of live music, drinks, and foods from around the world. Soak up some rays on the Promenade Deck as you find out how to earn more drink tickets. This fun, casual evening will be highlighted by an auction that includes trips, sports memorabilia, and much more! Ticket prices for ANCHORS AWEIGH: CRUISIN’ ON THE OHIO are $20 for Museum Members / $25 for Not-Yet-Members, and all proceeds help to support education programs and scholarships for children at the Museum.

Read More at http://www.emuseum.org/

UE’s Snyder Lecture Series Welcomes “Half the Sky” Co-Author Sheryl WuDunn

0

The University of Evansville is proud to announce that Sheryl WuDunn, co-author of Half the Sky: Turning Oppression into Opportunity for Women Worldwide, will be the first speaker in the 2012-13 Patricia H. Snyder Concert & Lecture Series.

The event on Thursday, September 27 will begin at 6:00 p.m. in Eykamp Hall (Ridgway University Center) with an advance screening of PBS documentary Half the Sky, courtesy of WNIN and Independent Lens. WuDunn will speak at 7:00 p.m., followed by a reception and book signing at 8:00 p.m. The event is free and open to the public.

“This event embodies the spirit of the Snyder series by linking the University of Evansville with the broader local community to focus on a topic of global importance,” said Lucy Himstedt, UE assistant vice president for marketing and communications and chair of the Patricia H. Snyder Concert & Lecture Series. “Half the Sky was the Summer Reading Program selection for UE’s 2012 freshman class, and now, we’re thrilled to continue the conversation by welcoming Ms. WuDunn to campus.”

WuDunn, the first Asian-American reporter to win a Pulitzer Prize, is a best-selling author, business executive and lecturer. She is currently a senior managing director at Mid-Market Securities, an investment banking boutique serving growth companies in the middle market, including companies founded and run by women. She is also president of TripleEdge, a social investing consultancy. Among WuDunn’s many honors, Newsweek named her one of 2011’s “150 Women Who Shake the World.”

Previously, WuDunn worked at The New York Times as both an executive and journalist; as editor for international markets, energy and industry; as The Times’s first anchor of an evening news headlines program for a digital cable television channel, the Discovery-Times; in management roles in strategic planning and circulation; and as a foreign correspondent for The Times in Tokyo and Beijing, where she wrote about economic, financial, political and social issues. She has also been vice president, in the role of investment advisor for private clients, in the investment management division at Goldman, Sachs & Co. and a commercial loan officer at Bankers Trust.

With her husband, Nicholas D. Kristof, she has co-authored two other best-selling books about Asia: Thunder from the East and China Wakes. WuDunn won a Pulitzer Prize with her husband for covering China, along with the Dayton Literary Peace Prize for Lifetime Achievement. WuDunn was honored for Half the Sky in 2010 with the Beacon Award from the White House Project, a nonpartisan organization that seeks to advance women’s leadership in all communities and sectors.

Made possible through an endowment from the late Patricia H. Snyder, trustee and longtime friend of the University of Evansville, the Patricia H. Snyder Concert & Lecture Series was created in 1997 to bring speakers or performers of national or international renown to Evansville at no cost to the public. The concerts and lectures in this series span a wide variety of topics, and are aimed at both the Evansville and campus communities. Events are free and open to the public.