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IU Economists expect 2013 to be a continuation of “unacceptably low growth”

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November 1, 2012

News Release

Indianapolis, Ind. — For the second consecutive year, the United States economy managed to underachieve relative to economists’ unambitious expectations. Indiana University Kelley School of Business economists are presenting their annual forecast today, Nov. 1, and unfortunately expect more of the same in 2013.

And like a year ago, a considerable list of things could adversely upset their expectations, chief among them and most immediate, the “fiscal cliff,” a potential economic growth-killing combination of higher taxes and government spending cuts.

“Without congressional compromise — something we have little experience with recently — a long list of tax increases and spending reductions will go into effect on Jan. 2,” said Bill Witte, associate professor emeritus of economics at IU and a member of the panel. “If ‘C-Day’ were to materialize, it would almost certainly put the economy back into recession with negative growth for much of next year, decline in employment and rising unemployment.

“In fact, the uncertainty about the situation is already having an impact on business decisions. In the third quarter, investment in plant and equipment actually declined. The tepid pace of hiring probably also reflects this ambiguity,” Witte added.

Other ongoing concerns include Europe’s lack of progress in dealing with its sovereign debt problems and China’s transitioning to a slower growth path. The Business Outlook Panel sees these problems as chronic.

“We expect that 2013 will be generally similar to 2012: unacceptably slow growth, without much progress in the labor market,” Witte summed up.

The panel expects the national economy overall will expand by about 2.5 percent next year — if the economy does not go over the fiscal cliff. This will be better than the 1.7 percent so far this year, because of somewhat better household spending, improvements in the housing market and less drag from the government sector, but not enough to make much of a dent in unemployment.

They forecast modest employment growth, with the national economy generating about 2 million new jobs. The unemployment rate will remain above 7 percent.

Inflation will remain close to 2 percent.

In Indiana, the employment story has been somewhat better than expected. Jerry Conover, director of the Indiana Business Research Center, said the state’s economic recovery made notable progress in 2012.

“From the peak just before the recession to the trough, Indiana payrolls shrank by 200,000 jobs. Since then, they’ve grown slowly but steadily by 150,000. So far this year, payroll employment is averaging more than 52,000 above last year’s levels, and the growth is accelerating,” Conover said. “This growth rate is comparable to the heady days of the late 1990s.

“This is a more appealing picture than we painted last year for Indiana, and for the year ahead our forecast calls for sustained growth — payroll job growth of more than 50,000 jobs in 2013,” he added. “At this rate, we’re still about two years away from our pre-recession employment level.”

Real personal incomes in Indiana will rise a bit less than 2 percent in 2013, with per capita incomes growing by about $1,500. The state’s overall economic output will grow by about 2.3 percent, comparable to the national rate.

The panel released its forecast this morning at the Columbia Club in Indianapolis and will present it at 11:30 a.m. today at Indiana Memorial Union in Bloomington. It also will present national, state and local economic forecasts in eight other cities across the state through Nov. 20.

The Indianapolis metropolitan area should continue to see slow growth, according to Kyle Anderson, clinical assistant professor of business economics in the Kelley School of Business at Indianapolis.

“Job growth has been weak, but the unemployment rate has declined to 7.1 percent due to a shrinking labor force,” Anderson said. “Housing remains a weak spot in the Indianapolis economy, but construction is beginning to pick up.”

The starting point for the forecast is an econometric model of the United States, developed by IU’s Center for Econometric Model Research, which analyzes numerous statistics to develop a national forecast for the coming year. A similar econometric model of Indiana provides a corresponding forecast for the state’s economy based on the national forecast plus data specific to Indiana. The Business Outlook Panel then adjusts the forecast to reflect additional insights it has on the economic situation.

A detailed report on the outlook for 2012 will be published in the winter issue of the Indiana Business Review, available online in December.
Here are other highlights from today’s forecast:

• The housing sector has finally hit bottom nationally, and the wave of foreclosures is starting to recede. Not only are prices starting to rise, but new housing construction will be a bright spot in the economic picture.

• The Federal Reserve will again continue to maintain its near-zero position on short-term interest rates. Mortgage rates will remain at historic low levels, but lenders will finally begin to loosen the reins on credit.

• In the absence of major supply or security disruptions, energy prices will remain relatively flat in 2013, with oil prices averaging at or below $90 per barrel. Rising domestic energy production will be another bright spot in the economy.

• Stock market values should climb slowly next year, well below long-term growth rates. Earnings forecasts and low interest rates are encouraging for stock prices, but uncertainty about fiscal policy and foreign economies will hamper growth.

This year’s tour is sponsored by IU’s Kelley School of Business, the IU Alumni Association, IU campuses and various community organizations. A complete schedule of the Business Outlook Panel tour is available online.

Source: Indiana University

VANDERBURGH COUNTY FELONY CHARGES

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VANDERBURGH COUNTY FELONY CHARGES

This feature is sponsored by Chris Walsh For Vanderburgh County Clerk. Chris Walsh is a veteran county administrator that strongly supports our local law enforcement professionals . Chris Walsh is a candidate that possess a non-partisan attitude with a consumer friendly demeanor. Chris also stands against unification of city and county governments.
This ad paid for by the committiee to elect Walsh Clerk.

Evansville, IN – Below is a list of felony cases that were filed by the Vanderburgh County Prosecutor’s Office on Wednesday, October 31, 2012.

Anthony Barnett Battery Resulting in Serious Bodily Injury –Class C Felony
Strangulation – Class D Felony

Jeremy Greenlee Battery Resulting in Bodily Injury –Class D Felony

Ryan Horstketter Theft – Class D Felony
Resisting Law Enforcement –Class A Misdemeanor

Kenneth Langley Battery Resulting in Serious Bodily Injury – Class C Felony
Criminal Confinement – Class C Felony
Battery Resulting in Bodily Injury – Class A Misdemeanor
Criminal Mischief – Class A Misdemeanor
Battery –Class B Misdemeanor

Samantha Murphy Battery Resulting in Bodily Injury –Class D Felony

Nancy Seibert Theft –Class D Felony

Shelley Seibert Theft –Class D Felony

Jeffrey Smith Possession of a Controlled Substance –Class D Felony

For further information on the cases listed above, or any pending case, please contact Carly Settles at 812.435.5688 or via e-mail at csettles@vanderburghgov.org.

Under Indiana law, all criminal defendants are considered to be innocent until proven guilty by a court of law.
SENTENCE CHART

Class Range
Murder 45-65 Years
Class A Felony 20-50 Years
Class B Felony 6-20 Years
Class C Felony 2-8 Years
Class D Felony ½ – 3 Years
Class A Misdemeanor 0-1 Year
Class B Misdemeanor 0-180 Days
Class C Misdemeanor 0-60 Days

EVSC’s New Tech Institute to Host Open House

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The Evansville Vanderburgh School Corporation’s New Tech Institute: Academies of Innovation and Entrepreneurial Leadership will host an open house Thursday, Nov. 8, from 6 to 8 p.m. at the school, which is located inside the Southern Indiana Career and Technical Center, 1901 Lynch Rd. This year marks the third year of operation for New Tech, and next year all four high school grades (9-12) will be represented at the school.

The open house, which is for current eighth grade students and their families, will include a number of student-led sessions including school culture, project-based learning, technology, student projects and more.

EVSC’s New Tech Institute is a diploma-granting high school (academic honors, technical honors, and Core40) that focuses on STEM (science, technology, engineering and math) education and entrepreneurial leadership. As its primary means of instruction, New Tech utilizes Project-Based Learning (PBL) which features the use of technology and inquiry to engage students with issues and questions that are relevant to their lives. Teachers at New Tech design projects and customize them to meet real-world applications and the interests of students. Students then work in teams to acquire and apply knowledge and skills to solve problems. Students are encouraged to take charge of their learning, and as a result, teachers become facilitators and coaches who help guide students.

For more information on EVSC’s New Tech Institute, visit www.evscschools.com/newtech. To learn more about the New Tech Network and the school model, visit www.newtechnetwork.org.

IS IT TRUE November 1, 2012

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The Mole #??

IS IT TRUE November 1, 2012

IS IT TRUE that October of 2012 is now officially the highest internet traffic month ever for the City County Observer?…the CCO set records for pageviews, visits, unique visitors, and that every goal that was set in the strategic planning for 2012 will have been achieved in the next couple of weeks?…that much of that can be attributed to actually going through a planning and goal setting process in December of 2011?…that the City of Evansville continues to flounder in the strategic planning department having no plan at all in place for the future of the City?…the CCO first exposed this vacuum of leadership in charting a course back in 2010, and again in both 2011 and 2012?…we actually placed putting together a strategic plan as the top priority for the City of Evansville in all three years?…that not a darn thing has been done about that by either the Weinzapfel or Winnecke Administrations?

IS IT TRUE that as much as predictable and growing readership is the direct result of planning for the CCO that the failure to plan or even to think is most likely the driving force behind the utter and complete incompetence that has been exposed in city government during the last 4 years?…that things like a rotting down McCurdy, an empty lot where the unplanned hotel should be by now, the Earthcare Energy fiasco, the inability of the City to balance its books (still continuing), the misplaced $1.6 Million, Roberts Stadium’s demise, dilapidated parks, and a starry eyed desire to build more of them that have taken on epidemic proportions are the result of not planning and not thinking by our city government?…consolidation will not solve this using the current leaders and the plan that the upcoming referendum is about?…if and we must say if consolidation fails at the ballot box by the kind of substantial amount that our Moles tell us it is failing in the polls that many political careers will be in ashes over supporting something that was meticulously planned to do nearly nothing?

IS IT TRUE that after all of the fanfare and claims in the summer that the McCurdy was on a track to be refurbished that on November 1, 2012 the Vanderburgh County Assessor’s website still reports that the owner of record is City Centre Properties LLC of Carmel, IN?…the Vanderburgh County Treasurers website however reports that the taxes are now up to date and that the owner of record is McCurdy Development LLC located at 510 Main Street right here in Evansville?…both of these public websites cannot be correct?…we wonder which of these entities is actually being expedient and efficient in keeping this information up to date?…we invite both the Assessor and the Treasurer to chime in and tell our readers exactly who owns the McCurdy and when the change of ownership took place if it indeed has happened and slipped under the Assessor’s nose?

IS IT TRUE the grades came out from the State of Indiana on the accountability of the schools and 15 of the schools operated by the EVSC got an F?… four EVSC schools were awarded “A” grades. Two received “Bs,” eight “Cs” and six “Ds?…if you count them up that 20 out of 35 of the EVSC schools got either a D or an F?…this is not acceptable and will not impress any site selectors who are assessing the desirability of Vanderburgh County as an acceptable place for educated young professionals to raise a family?…EVSC is already consolidated?…if one wants to do something to attract outside interest and investment that having an award winning school system will do that?…that any gains that may be achieved in the minds of the unsuspecting by putting in ball fields, parks, or consolidating local government are totally wiped out by a school system that has over half of the schools getting D’s or F’s in national performance metrics?…the funniest part of this was the headline in the Courier and Press that reads “State gives failing acountability grade to 15 EVSC schools”?…the author of that article and the spell checkers over at the CP seem to have taken spelling at one of the 15 schools that got Fs?

Caucus meeting called by Chairman Wayne Parke

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Republican Party
As Chairman of the Vanderburgh County Republican Party, I am calling a Republican Caucus to be held on Wednesday, November 14, 2012. The purpose of the Caucus is to fill the vacancy of Center Township Trustee that is vacant due to the passing of James “Tiger” Ritter.

Our Republican Caucus will be held in the meeting room at Oaklyn Library, located at 3001 Oaklyn Drive (off Oakhill Rd, just South of Lynch Rd.) The doors will be open at 5:30 PM and the Caucus will begin promptly at 6:00PM

As a Precinct Committeemen residing in Center Township it is important that you attend this meeting. Only Center Township Precinct Committeemen will be allowed to vote to fill position. If you are NOT able to attend, the ONLY proxy allowed is the Vice-Committeeman. If neither attends, your precinct will not be represented. If you cannot attend, please advise Mary Jo Kaiser, at 425-8207.

A candidate for this office must reside in Center Township. They must also complete a CEB-5 form (see attachment) along with their resume and submit this information to Wayne Parke, Republican Party Chairman, no later than 6:00 PM on Sunday, November 11, 2012. Any CEB-5 Form received after this time for this position will not be accepted. As soon as the list of candidates are known, at least 72 hours before the Caucus, we will post the list on the GOP Website and send an e-mail to those PC’s who have provided us their e-mail address.

At the Caucus, each candidate is permitted to have someone make a two minute nomination speech and the candidate will be given three minutes to tell the PC’s why they are the best candidate. After that the PC’s will be given an opportunity to ask the candidate questions. Please bring a Photo ID.

I look forward to seeing you Wednesday, November 14, at 6:00 PM to fill this very important vacancy.

Sincerely,

Wayne Parke
Vanderburgh GOP Chairman

VANDERBURGH COUNTY FELONY CHARGES

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VANDERBURGH COUNTY FELONY CHARGES

This feature is sponsored by Chris Walsh For Vanderburgh County Clerk. Chris Walsh is a veteran county administrator that strongly supports our local law enforcement professionals . Chris Walsh is a candidate that possess a non-partisan attitude with a consumer friendly demeanor. Chris also stands against unification of city and county governments.
This ad paid for by the committiee to elect Walsh Clerk.

Evansville, IN – Below is a list of felony cases that were filed by the Vanderburgh County Prosecutor’s Office on Tuesday, October 30, 2012.

James Burris Dealing in Methamphetamine – Class A Felony
Maintaining a Common Nuisance – Class D Felony

William Cross Battery Resulting in Serious Bodily Injury – Class C Felony
Disorderly Conduct – Class B Misdemeanor

Daishar Compton Burglary –Class A Felony
Criminal Confinement – Class B Felony (Two Counts)
Robbery – Class B Felony (Two Counts)
Theft – Class D Felony

Thendis Compton Failure to Register as a Violent Offender – Class D Felony

Larenzo Crayton Dealing in Cocaine – Class B Felony
Possession of Cocaine – Class D Felony
Maintaining a Common Nuisance – Class D Felony

Ronald Hale Intimidation – Class D Felony
Public Intoxication – Class B Misdemeanor

Chelsea Hayes Operating a Vehicle as an Habitual Traffic Violator –Class D Felony

Cedrick Lewis Child Molesting – Class A Felony

Deanna McGill Maintaining a Common Nuisance – Class D Felony
Neglect of a Dependent – Class D Felony
Possession of Marijuana – Class A Misdemeanor

Frenchy Miles Dealing in Cocaine – Class B Felony
Possession of Marijuana – Class A Misdemeanor
Resisting Law Enforcement – Class A Misdemeanor

Tesha Rabon Possession of a Controlled Substance – Class D Felony
Unlawful Possession or Use of a Legend Drug – Class D Felony (Two Counts)
Criminal Trespass – Class A Misdemeanor

Rashad Robinson Possession of a Controlled Substance – Class D Felony
Maintaining a Common Nuisance – Class D Felony
(Habitual Substance Offender Enhancement)

Martez Smith Unlawful Possession of a Firearm by a Serious Violent Felon – Class B Felony

Cassie Speed Operating a Vehicle with a BAC of .15 or More – Class A Misdemeanor
(Enhanced to a Class D Felony due to Prior Convictions)
Operating a Vehicle While Intoxicated – Class C Misdemeanor
(Enhanced to a Class D Felony due to Prior Convictions)

Donald Summers, II Criminal Confinement – Class C Felony
Intimidation – Class D Felony
Battery Resulting in Bodily Injury – Class A Misdemeanor

Calvin Wells Child Molesting – Class A Felony (16 Counts)

Giavonni Wickware Burglary –Class A Felony
Criminal Confinement – Class B Felony (Two Counts)
Robbery – Class B Felony (Two Counts)
Theft – Class D Felony

For further information on the cases listed above, or any pending case, please contact Carly Settles at 812.435.5688 or via e-mail at csettles@vanderburghgov.org.

Under Indiana law, all criminal defendants are considered to be innocent until proven guilty by a court of law.
SENTENCE CHART

Class Range
Murder 45-65 Years
Class A Felony 20-50 Years
Class B Felony 6-20 Years
Class C Felony 2-8 Years
Class D Felony ½ – 3 Years
Class A Misdemeanor 0-1 Year
Class B Misdemeanor 0-180 Days
Class C Misdemeanor 0-60 Days

Libertarian Party of Vanderburgh County: Meet the Candidate Night

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The Libertarian Party of Vanderburgh County would like to invite you to our Meet the Candidate Night this Saturday, November 3rd at the Fox & Hound Restaurant in Evansville from 6-8PM. This will be your last chance to meet and discuss issues with a wide range of candidates from the Libertarian Party before you cast your vote next Tuesday. The list of candidates includes Kurt Clement for County Council at Large, Brad Klopfenstein for Lt. Governor, Rupert Boneham for Governor, Bart Gadau for Congress, Andrew Horning for Senate, and our special guest Judge Jim Gray who is Gary Johnson’s VP running mate. The event is free to the public, however individuals will purchase their own food/drinks, and we also ask that you please bring a couple canned goods which will be donated to the Evansville Christian Life Center so they can stock the shelves of their emergency food bank for the winter. Hope to see everyone there!!

Best Regards,
Bart Gadau LPVC Chairman

Analysis of ObamaCare’s Financial Effects on the Middle Class published in the WSJ

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Excerpts:

“It is time to move past the debate over whether ObamaCare was a good or a bad idea. I count myself as an ObamaCare supporter, but this doesn’t blind me to the law’s flaws. Regardless of who wins the presidential election, bipartisan compromise will be necessary to reform health care in a constructive way.”

“Without further reforms, the law will create unnecessary costs for working-class Americans.”

“Consider a low-income American supporting a family of four deciding whether to take a part-time job that pays $36,000 a year or a full-time job that pays $42,000 a year. According to my research, accepting the higher-paying job could result in the family losing over $10,000 a year in health-care subsidies.”

“by switching low-income employees to part-time positions, rather than offering them health insurance, an employer will be able to save over $3,000 a year by avoiding ObamaCare’s employer-mandate penalties. Without further reforms, many employers and employees will jointly benefit if employers make low-income employees part-timers rather than offering them health insurance. The losers will be taxpayers, who will need to fund the subsidies”

“ObamaCare’s new subsidies may also create penalties for marriage and incentives for divorce. Under rules proposed by the Treasury Department, if an employer offers health insurance for which the cost of self-only coverage is affordable to an individual employee, that employee’s entire family will be disqualified from receiving the new federal subsidies.”

“a couple with children in which one of the parents earns most of the family’s income. If the couple marries, the family would lose thousands of dollars of subsidies that could otherwise be used to pay for health insurance for the children and the lower-income spouse. If the couple is already married, divorce may be their only option for obtaining affordable insurance for their children and the lower-income parent.”

“ObamaCare is far from perfect. Yet there was widespread agreement that the health-care system before ObamaCare needed reform. If Republicans and Democrats will work together, they can build a system better than either ObamaCare or what we had before. Partisan warfare should not stand in the way of improving health care for all Americans.”

http://online.wsj.com/article/SB10001424052970203335504578086702676417058.html