News Release

Evansville, Ind. — Today, Accuride Corporation (OTCBB: ACUZD), announced that NYSE Regulation, Inc. (NYSER) has authorized Accuride Corporation for listing on the New York Stock Exchange. It is anticipated that Accuride’s common stock will begin trading on the NYSE, under the symbol ACW, when the market opens on Wednesday, December 22, 2010.

“The listing of Accuride’s common stock on the NYSE puts a finishing touch on our capital restructuring efforts for 2010 and signifies Accuride’s positive momentum heading into 2011,” said Bill Lasky, Accuride’s President, CEO, and Chairman of the Board. “Our team has worked hard throughout the industry downturn to successfully restructure the Company’s operations and capital structure to be in a position to capitalize on the inevitable economic recovery, and we’re pleased about the additional benefits that the relisting will bring to our investment community.”

Accuride Corporation is one of the largest and most diversified manufacturers and suppliers of commercial vehicle components in North America. Accuride’s products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, seating assemblies, and other commercial vehicle components. Accuride’s products are marketed under its brand names, which include Accuride®, Gunite®, ImperialTM, Bostrom®, FabcoTM, BrillionTM, and Highway Original®.

For more information, visit Accuride’s website at http://www.accuridecorp.com.

Source: Accuride Corporation

Shouldn’t Evansville be following Louisville’s Example?

By: Joe J. Wallace

During the early nineties Louisville and Evansville were on the same level when it came to local venture capital firms that offered funding for local entrepreneurs with ideas to pursue prosperity. At that time both Evansville and Louisville had exactly zero venture capital firms. Local people with ideas in need of funding had no choice but to pack their bags and leave town to pursue entrepreneurial dreams

Today it is a different story. Louisville is the home to twenty four (24) venture capital firms that manage a total of $800 Million while Evansville is still waiting for that first venture capital firm to set up shop. As much success as Louisville has had in growing a venture investment community other similar cities have latched on to the national venture capital phenomena that has been the catalyst of the technology revolutions in both Silicon Valley and the Boston area. According to the Nashville Entrepreneur Center, Nashville, Tennessee is home to venture capital firms that have $2.3 Billion under management and available to entrepreneurs.

Louisville’s road from being a venture capital no-place to the home of 24 firms and $800 Million of available investment funds started where all such roads must start, at home. There was no emissary from the City of Louisville that went to Silicon Valley and convinced firms there that Louisville was the place to be. At that time Louisville was not the place to be so efforts to convince outsiders to come there would have been a complete waste of time. Louisville’s first venture capital firm, Chrysalis Ventures grew from the profits made by Humana, the pioneer of the Jarvik artificial heart transplant.

The successes of the Humana Corporation’s internal entrepreneurship created the wealth needed and the mindset necessary to launch Chrysalis Ventures as Louisville’s first venture capital firm in 1993. The other twenty three firms to form in or enter the Louisville market for entrepreneurship followed over the next several years. The venture industry continues to grow and Louisville is now recognized worldwide for pioneering medical products and services through entrepreneurship efforts made possible by local investment. Outside firms have now recognized the local talents that local dollars have leveraged to create wealth in Louisville and are eager to get in on the action.

Chrysalis today is headquartered in Louisville and has offices in Cleveland, Pittsburgh, Ann Arbor and Houston. The wealth and profits from that expanded effort are of course repatriated to the home office and are available to Louisville entrepreneurs.

One of the portfolio companies of Chrysalis Ventures is AchieveCCA, a former Evansville based business that was founded by 2007 candidate for Evansville City Council and the inventor of the “sewers before stadium” mantra, Andrew Smith. AchieveCCA was chosen as a portfolio company by Chrysalis due to the recognition of the simple yet low risk approach they pioneered to assist hospitals in the recovery process of patient debt. Achieve CCA was recently profiled as growing to over 200 employees this year. When AchieveCCA left Evansville for Louisville, it was still in the start-up stage with few employees and was seeking local investment. That investment never came and today AchieveCCA is a Louisville success story.

There are many similar stories where the fact that local investment dollars are not available, have caused educated, ambitious, and energetic young professionals with ideas to depart this region. Others just find a job and shelve their dreams. We are all a little worse off in terms of opportunities, lifestyle, and prosperity because there are no established local investment firms.

The importance of start-up firms to a local economy is summed up by the Ewing Marion Kauffman Foundation in a study that concluded that “nearly all” of the jobs created from 1980 to 2005 nationwide were created by companies that are less than five years old.

How long can a city survive without investing in its own talented and ambitious people? I guess that answer depends on ones definition of survival. Perhaps a better question would have been, “how long can a city grow and prosper without investing in its own homegrown talented and ambitious people”? The answer of course is not at all, unless ones definition of growth and prosperity is simple survival.

References:
http://www.chrysalisventures.com/
http://www.achievecca.com/
http://www.chrysalisventures.com/2009/12/achieve-cca-expects-to-have-more-than-200-employees-in-louisville/

AGENDA
Vanderburgh County
Board of Commissioners
December 21, 2010
5:00 p.m.,
Room 301

1. Call to Order
2. Attendance
3. Pledge of Allegiance
4. Permission to Open Quotes for VC10-12-01: Mann Road Culvert No. 1212 Replacement
5. Action Items
• ONB Insurance: Property and Casualty Insurance Premium Comparison
• Cooperative Purchasing Organization: Award Delivered Bulk Fuel to Heritage Petroleum and Wabash Valley Services
• Jill Gehlhausen: Southern Indiana Classic Marathon and Half Marathon
• Economic Development Coalition: Bohannaon Estates
i. Permission letter to hold and advertise public hearings
ii. Citizen Participation Report
• Old West Heights Trade School Property/1430 Harmony Way
• Commissioners: Sale of 1018 Adams Ave.
• Commissioners: Redemption of 620 E. Gum
• Commissioners: Requests for Redemption Period Extensions on Tax Sale Properties
i. 618 Louisiana
ii. 15 E. Tennessee
iii. 807 S. Werner Ave.
iv. 1010 N. Second Ave.
• Contracts, agreements and leases
i. Health Department: Verizon Wireless Contract
ii. EMA: Sub-Grant Agreement EDS#C44P-1-164A
iii. Purdue Cooperative Extension Services: Amendment No. 3 to Contractual Services Agreement
iv. County Engineer: LPA – Consulting Contract with Cripe Architects and Engineers
v. Sheriff: Sprint/ Nextel Agreement
vi. Commissioners:
 Fred Bumb Drainage Tile Easement
 Vanderburgh County Engineer Old Courthouse Lease Agreement Renewal
 AIDS Recourse Group Old Courthouse Lease Agreement Renewal
 2011 WNIN Agreement
 2011 YMCA Membership Agreement
 2011 Mulberry Center Employee Assistance Agreement
 2011 Youth Resources Agreement
 2011 Evansville ARC Agreement
 JE Shekell Contract for Semi-Annual Maintenance of HVAC at Old Court House
 Xerox copier lease for County Auditor’s office
 Addendum to Welborn Health Plans Agreement
6. Department Head Reports
7. New Business
• Set first meeting for 2011
8. Old Business
9. Public Comment
10. Consent Items
• Approval of prior minutes
i. December 7, 2010 Commission meeting minutes
• Employment Changes
• Commissioners: Old Courthouse Boiler Motor Replacement Quote
• County Engineer: Pay Request No. 118 for $415,818.76
• County Treasurer: November 2010 Monthly Report
• Kraftwerks, Inc. Old Courthouse Craft Show 2010 Financial Report
• Southwestern Healthcare: Hillcrest Washington Youth Home Contract Increase for 2011
• Sheriff: ICJI Impaired and Dangerous Driving Grant
• County Treasurer: November 30, 2010 Year to Date Report
• Burdette Park Year to Date Comparison: January through November 2009-2010
• Department Head Reports
11. Adjournment

Here is a quick little instructional youtube video about what motivates people in work situations. It is interesting in the fact that it states that repetitive tasks that are paid by the piece are good motivators but with jobs that require cognitive thought carrot and stick bonus plans degrade results.

As my advisor in college once told me “only one animal is really stimulated to perform by a carrot tied to a stick”. That animal is sometimes know as Jack!

http://www.youtube.com/watch?v=u6XAPnuFjJc&feature=channel

The CCO Supports Honoring the Bargain that brought him here in an Ethical Manner

One of lightning rod issues this year in Evansville politics came when it was revealed that Tom Barnett, the Director of Metropolitan Development for the City of Evansville was drawing two paychecks. One of those paychecks was paid to Mr. Barnett from the City of Evansville the old fashioned way in the amount of $71,178 per year, the maximum allowable under the City of Evansville’s salary schedules. The other paycheck came from GAGE in the amount of $42.643 per year giving Barnett an annual compensation package of $113,821.

The deal for Barnett to get the supplemental paycheck from GAGE was negotiated, written, and signed by Evansville Mayor Jonathan Weinzapfel on behalf of GAGE as its Chairman of the Board of Directors. No other GAGE board members or officers signatures were on the contract. The Mayor and Barnett have been open with the fact that Barnett’s salary in Paducah, KY a town of 25,720 was already higher than Evansville’s maximum allowable, and that he had an offer in hand for $107,000 from the City of Eustis, FL that has a population of 19,129. Evansville is over 4 times larger than either of these cities.

As the CCO is all about advocating for good public policy, we must point out that this two paycheck arrangement was a prime example of bad public policy. It is bad public policy to have salary schedules that are not competitive with comparable cities. Evansville’s salary schedules in Barnett’s case were not even up to par with much smaller cities with lower costs of living. One bad policy in this case led to another. The two paycheck scheme hatched and implemented by Mayor Weinzapfel spared him the scrutiny of the Evansville City Council in the hiring process. When it all became public, it backfired and Barnett was caught in the crossfire.

Councilman Dan McGinn has told us that he supports the City Council approving Mr. Barnett’s pay for 2011, which was tabled due to confusion, at the level that is the equivalent to the two paycheck scheme and that he should be paid the old fashioned way by one paycheck from the City of Evansville. The City County Observer agrees wholeheartedly with Councilman McGinn.

We also would like to encourage the City of Evansville to go one step further and do whatever study needs to be done to establish and approve salary schedules for all City of Evansville jobs that are competitive with peer cities across the country. Having salary schedules that are not competitive stunts our ability to retain or attract talent to these important positions. Perhaps both talented and willing people already live here to fill these positions if they were seen and compensated in a competitive manner. Taking this step is one necessary step to counter one of the reasons that we continue to have this problem often referred to as “brain drain” where our best and brightest leave the area.

Modernizing the salary schedules for both the City of Evansville and Vanderburgh County employees is good public policy and we encourage the governing entities to get busy and make this happen

2011 is an election year. We need exemplary candidates to come forward for all of the offices that are on the ballot. If the elected offices are not competitive with peer cities then something needs to be done about that too.

The Director of DMD reports to the Mayor of Evansville. The current Director of DMD is paid more than the Mayor. It is also time to raise the salary of the Mayor of Evansville to a level that substantially exceeds the salaries of the people who directly report into that office. Our future as a community depends on attracting qualified candidates who recognize and practice good public policy. Modernizing the salary for the Office of the Mayor of Evansville will make holding that office more attractive to people with knowledge, drive, talent, and experience.

Evansville, IN (December 17, 2010) – The Vanderburgh County Auditor would like to remind residents that the deadline to file property tax deductions is January 5, 2011.

Deduction applications must be filed with the County Auditor’s Office on or before January 5, 2011 for the taxpayer to receive the eligible deductions on their 2011 property tax bills. To ensure that you are not paying higher taxes than you should for next year, be sure to file for any deductions that you are entitled.

If you have previously filed a mortgage deduction, you would only need to re-file if you have refinanced. If you have filed a homestead deduction, you would only need to re-file if you have moved. If you recently purchased a home and filed for your homestead on the sales disclosure form, you would not need to re-file.

For more information, or to review the eligibility requirements for the deductions, go to the Auditor’s website at www.vanderburgh.org/auditor . Deductions can be filed in the Auditor’s Office which is located in Room 208 of the Civic Center Complex. Office hours are from 7:30 AM to 4:30 PM Monday through Friday. The phone number is 435-5293.

IS IT TRUE? December 17, 2010

IS IT TRUE that Spencer County, Indiana got great news from an economic development perspective yesterday?…that after years of negotiating it has finally been approved to proceed with the coal to pipeline quality gas production plant?….that this project will create roughly 1,000 construction jobs for three years, 200 permanent jobs, and 300 mining jobs?….that plants like this are green and will preserve the long term value of the coal under the ground in greater Evansville?….that this source of pipeline quality gas at the projected prices will save this region money on gas and provide jobs and wealth for the next 30 years?….that there has been some legal maneuvering done to try to blunt the efforts to get this project started?….that each and every one of us would recognize the name of one of the companies that has spent much time and money opposing this worthy project?

IS IT TRUE that an Indiana based start-up company in the green energy business recently signed its first contract to deliver its transformational energy technology?…that this company has some deep ties to Evansville?….that this company could have been based in Evansville if adequate venture capital had been available during its development phase?…..that it still could if there were sufficient investment funds made available in Evansville for emerging and proven businesses?…..that we happen to know about this fish that got away?….that for every fish that gets away, there are hundreds that never even sniff at an empty hook?…that a fisherman that does not bait his hook will starve to death?

IS IT TRUE that it has now been 1,315 days since the announcement was made on May 14, 2007 that the McCurdy Hotel was to be refurbished into luxury apartments?…that it has now been 1,170 days since the Evansville Redevelopment Commission at the request of Mayor Weinzapfel approved the spending of $603,000 to purchase the parking lot.

IS IT TRUE that there are now 695 days remaining in the two years that the EPA had given the City of Evansville to present an acceptable solution to the Combined Sewer Overflow problem?…..that this plan is an expensive and complex endeavor that needs immediate attention to avoid the embarrassment and expense of another round of fines?

IS IT TRUE that exactly 15 days from now Marsha Abell will assume her newly elected role as a Vanderburgh County Commissioner?….that both Commissioners Abell and Winnecke have said that early in their term they will introduce and support a comprehensive smoking ban in Vanderburgh County?… that this move would not even be necessary except for the fact that 2 years ago a resolution to do the same thing was reversed marking one of the only such reversals by a county with over 100,000 residents in the history of the United States?….that going back to the future of 2009 is a positive mood for public health, quality of life, and economic development for Vanderburgh County?…..that the City of Evansville will have yet another opportunity to do the same?

INDIANAPOLIS – Today a federal court in Florida heard the arguments of a group of 20 states – including Indiana – in their legal challenge to the new federal health care law. Attorney General Greg Zoeller, who joined the lawsuit on behalf of Indiana in May, issued this statement:

“Indiana and 19 other states who brought this legal challenge ask the court to decide a fundamental question: Can the federal government require individuals to purchase a private health insurance policy or face a penalty? This individual mandate is unprecedented, and raises the specter of what other financial products the federal government might seek to compel individuals to buy regardless of whether they want to or can afford to. Our bringing a respectful legal challenge is the means by which this question about the proper role of federal government eventually can be asked of and answered by the United States Supreme Court,” Zoeller said.

“We also are heartened by the fact that Virginia was successful this week in its separate legal challenge to the federal health care law. Virginia’s challenge had raised legal arguments similar to those in our case in Florida: that the individual mandate to purchase insurance is unconstitutional. The federal court that heard Virginia’s case agreed, and struck down the individual mandate. Although our case is heard in a different court and raises other issues, the same line of legal reasoning has withstood a crucial test,” Zoeller said.

In today’s case in federal court in the Northern District of Florida, U.S. District Court Judge Roger Vinson heard arguments on the merits of the case. The plaintiffs include Indiana, Florida and 18 other states as well as two private individuals and the National Federation of Independent Business (NFIB). The U.S. Department of Justice represents the federal government defendants. The court is expected to rule sometime early in 2011. From there, the case is likely to be appealed to a federal circuit court of appeals, and from there potentially to the United States Supreme Court.

From the start of the litigation, Zoeller has spent no additional tax dollars on the legal challenge beyond his office’s regular budget that the Legislature previously approved in 2009. Indiana did not pay a legal fee to join the lawsuit. No outside legal counsel was used; Indiana’s legal work has been performed by a salaried employee of the Attorney General’s office who would have been paid the same regardless of whether Indiana participated. No one from the Attorney General’s Office traveled to Florida today for the courtroom arguments; instead, Solicitor General Thomas M. Fisher monitored the court proceedings by phone from Indianapolis through a court teleconference.

Before announcing in March that he would join the multistate legal challenge to the new federal law, Zoeller in February prepared a 55-page report on and analysis of the federal healthcare legislation at the request of U.S. Senator Richard Lugar of Indiana. The Attorney General’s report to Lugar is found here:

http://www.in.gov/portal/news_events/files/IN_Atty_Gen_Impact_Analysis_of_the_Patient_Protection_and_Affordable_Care_Act.pdf

\Tickets On-Sale Monday, December 13th at 10:00AM
Prices: Adult $20.00 & Children $5.00 + Additional Fees

Tickets available at the Roberts Stadium Box Office, All Ticketmaster Outlets,
www.ticketmaster.com, charge by phone 1-800-745-3000

Evansville, IN- Feld Motor Sports℠ announced today that tickets are now on sale for Advance Auto Parts Monster Jam® Thunder Nationals®, coming to Roberts Stadium Friday and Saturday, Jan. 7 and 8 at 7:30 p.m. both nights. The event will feature Monster Jam monster trucks Maximum Destruction® and BatmanTM, who are making their debut appearance in Evansville this year. Also featured will be Raminator, Rammunition, Quadzilla and Stomper.

On Saturday, Jan, 8, from 4:30 – 6 p.m. join us for the Party in the Pits. Fans with a Saturday night ticket will have the opportunity to get a view of the trucks up close and meet the drivers of the massive monster trucks. Pit Passes are available at select Dairy Queen locations.

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