Business Connection December 2012 by AIM Media Indiana

A publication of

December 2012

Long-term plan

Childhood ambition realized at Hoosier Sporting Goods

2 The Business Connection December 2012

Contents Economic Outlook Breakfast . . . . . . . . . 6 The election and small business . . . . . . . 8 Mark McNulty column . . . . . . . . . . . . . 9 Camera shop closes . . . . . . . . . . . . . . . 10 On the move . . . . . . . . . . . . . . . . . . . . 11 Business leads . . . . . . . . . . . . . . . . . . . . 14 Morton Marcus column . . . . . . . . . . . . 15

On the cover: Mike Bodart at Hoosier Sporting Goods. Photo by Sharon Shipley. Story page 4. Comments should be sent to Doug Showalter, The Republic, 333 Second St., Columbus, IN 47201 or call 812-379-5625 or dshowalter@therepublic.com. Advertising information: Call 812-379-5652. ©2012 by Home News Enterprises All rights reserved. Reproduction of stories, photographs and advertisements without permission is prohibited.

How to value a business before buying By Jennie Wong The Charlotte Observer (MCT)

QUESTION: For personal reasons, my boss is selling the small service business where I work, and I’m interested in possibly buying it. How can I make sure I’m getting a fair price? ANSWER: There are three common approaches to valuing a business — income-based, asset-based and market-based. Income-based approaches primarily use earnings, such as EBIT, or cash flow calculations. Asset-based approaches primarily use asset values, liabilities and liquidation costs. Market-based approaches, meanwhile, primarily use recent sales of similar companies. Be sure to work with a qualified professional to apply these methods. Once you and your qualified professional have dug through the financials, remember to think through what kind of “key person discount” makes sense for your particular situation.

First, what is a “key person?”

The IRS Valuation Training for Appeals Officers Course Book defines a key person as “an individual whose contribution to a business is so significant that there is certainty that future earning levels will be adversely affected by the loss of the individual.” In the case of a small service business, whether it be hair styling, lawn care or math tutoring, the founder and owner is likely to qualify as a “key person.”

Second, what is a “key person discount?”

According to the American Institute of Certified Public Accountants’ Statement on Standards for Valuation Services, a key person discount is “an amount or percentage deducted from the value of an ownership interest to reflect the reduction in value resulting from the actual or potential loss of a key person in a business enterprise.”

Third, how much of a discount is appropriate?

There is no set percentage or formula to use, so the actual discount applied will depend in the specifics of your case. Two factors to consider are:  Is the key person responsible for the company’s profits?  Can the key person be adequately replaced? For me, the person who mows my lawn can be adequately replaced while the person who cuts my hair cannot, but a man with an awardwinning lawn and a crew cut may disagree with me. The opinion that matters most is probably that of your current and future customers. Will the current customers stay, and will new customers continue to flow in? Food for thought: If you are a business owner who may want to sell your business someday, it behooves you to build your company in such a way that this discount is minimized.

MAKE GUESTS HAPPY

FIND YOUR HAPPY PLACE

See www.therepublic.com/monster to find a job at the intersection of both. Wouldn’t you like a job that fulﬁlls you both professionally and personally? With Monster’s new ﬁltering tools, you can quickly hone in on the job that’s right for you. So visit http://www.columbusindiana.jobs.com, and find a job that makes everybody happy.

4 The Business Connection December 2012

A man, a plan, a downtown mainstay Mike Bodart still keeping his eye on Hoosier Sporting Goods

By Barney Quick

How is this for a case study in entrepreneurial zeal? An athletically minded boy grows up such a fan of a sporting goods store in his community, he plans his life around returning after college to buy it. That’s the story of Mike Bodart and Hoosier Sporting Goods. “When I was 10 years old, one day my dad came home and said that it had new owners,” he recounts. “I said, ‘You tell them that in about 15 years I’ll be ready to buy it from them.’” The Columbus native worked for those previous owners, Herschel and Sally Crippen, through high school and his time in college, a route that began at IUPUC, took him to IU Southeast to play college baseball, and which culminated in a kinesiology degree from the Bloomington campus. Upon returning to Columbus, he taught physical education at St. Peter’s Lutheran School. He and a partner bought the store from the Crippens in 2003, and he has been sole owner since 2010. Along with its retail offerings, the business has an embroidery department, a full-time screen printer and a part-time artist, who handles logo creation and layouts. Three sales-floor people, as well as office personnel handling purchasing and receiving, round out the staff of nine. Since a lot of the store’s business involves putting school teams’ logos on blank uniforms and spirit wear, Bodart and his staff feel it’s important to cultivate relationships with area coaches and school administrators. “We’re focused on customer service, because the coaches get salespeople from all over calling on them at their offices,” says Bodart. “We don’t have an outside sales function. We try to get them to understand the value of spending taxpayer dollars locally.”

Photos by Sharon Shipley

Mike Bodart assists Aimee Morris with a team shirt purchase for her son, Carson, a sophomore at CSA New Tech High School.

One way Hoosier Sporting Goods builds these relationships is with congratulatory gestures. The Columbus North High School boys soccer team recently won the state championship. The store supplied the coaches and athletes with free T-shirts commending them on their victory.

Up to the challenge Being a locally owned sporting goods store located downtown presents challenges that weren’t present a few years ago. In particular, it has changed the store’s relationship with suppliers. “We’ve tried to remain loyal to good vendors, but they change, too,” says Bodart. “They can fall into the big box trap. The large chain stores beat them up on price point, which affects the quality of their products. “One reason I like Wilson is that they

Ben Whitaker applies a logo to rally towels for the South Decatur girls basketball team.

December 2012 The Business Connection 5

Hoosier Sporting Goods supplies trophies and awards for sports tournaments, clubs, businesses and area schools.

keep their lines separate. They deal with us differently from the way they interact with the big boxes. Wilson products are the official balls of the Indiana High School Athletic Association, and that means something to the schools.” Bodart mentions a uniform vendor of long-standing status. “Three of our four elementary school accounts are with that one vendor.” Regarding T-shirts, he says that “we shop around for those.” The segment of his business devoted to female athletes has grown. “Ten years ago, our vendors offered us rather limited options for items like girls uniforms,” says Bodart. “Now we have lots of choices.”

Welcome changes

Bodart is bullish on the overall downtown renaissance. “We have a lot more foot traffic in here. More generally speaking, it’s just great to see people walking around all day and into the night. Even if we only sell to 10 percent of the increased number of people, we’re just glad to be part of the vibrancy.” Some accounts place the founding of Hoosier Sporting Goods in 1938. Bodart’s documentation indicates that 1943 is the more likely year. It has always been somewhere on Washington Street. There were several ownership

changes before the Crippens took the helm. “I just loved coming in here as a kid,” says Bodart. When the time came to get a job during high school, it was the obvious choice. “I actually planned my life around coming back here and buying this store,” he asserts unhesitatingly. “Quite honestly, I didn’t really date in college. I didn’t want to fall for a girl from somewhere else who might not want to come back to Columbus and fit into that plan.” He initiated conversations about the purchase with Herschel Crippen in 2002. “It was a challenge to get a bank to loan money to a 26-year-old guy,” he says. He found the financing, gave notice to the school where he worked and embarked on his dream. “I knew the store operations part of it,” he says. “I needed to learn the business end. I asked a lot of questions of my accountant, and I never hesitated to ask other business people questions.” By the way, he found the woman who wanted to share his vision. He and wife Amanda now have two children. “I get to wake up every morning and do what I’ve always wanted to do,” he beams. That’s called a classic entrepreneurial story.

6 The Business Connection December 2012

Keeping an eye on that cliff

The farther away from Columbus, the worse the economic outlook, according to IU business professors By Barney Quick

Four panelists presented levels of economic consideration at this year’s Economic Outlook Breakfast, co-hosted by the IU Division of Business and the Columbus Area Chamber of Commerce, ranging from the global to the local. Despite the variation in scope, their take on the coming year had a common theme: uncertainty. The event took place before the Nov. 6 election, but they all asserted that the lame-duck period of the current Congress and administration was too fraught with unpredictability to make any definite predictions regarding the “fiscal cliff,” that is, the automatic hikes in various taxes and sequester-style cuts to various government functions looming on Jan. 1. Ellie Mafi-Kreft, clinical assistant professor of business at IU’s Kelley School of Business, began her remarks by saying, “Unfortunately, my tone is not going to be very good.” Her forecast was for continued unacceptable slow growth and dampened hiring. Along with the fiscal cliff, she said, the Euro crisis remains a big concern. She spoke of southern Europe’s “growing austerity fatigue” and northern Europe’s “bailout fatigue.” She speculated that, although Mediterranean countries are usually considered most likely to leave the Eurozone, Finland, a creditor nation, could exit as well. Mafi-Kreft said that any drop in the U.S. unemployment rate next year would “not be pronounced.” She noted that participation in the labor market is at its lowest in 30 years. She said it was not clear that China’s growth was sustainable. Its growth model has been distorted by government control of prices and other forms of interference in market dynamics. She expects some economic growth in Japan and Latin America, but not

photos by Joe Harpring

Panelists Ellie Mafi-Kreft, from left, Dubos J. Masson and Theresa Williams, all of the IU Kelley School of Business, present their economic forecasts at the Economic Outlook Breakfast.

much. Dubos J. Masson, a Kelley School clinical professor of finance, mentioned the phenomenon of companies holding on to liquidity. He noted that the Standard & Poor’s price-earnings ratio is currently 16, which is about the longterm average. He said that the Federal Reserve has been guaranteeing large corporate deposits, but that “that goes away at the end of the year.” Masson spoke of the housing sector as “a big upside. The bubble is being worked off.” He observed that inflation has stayed low, too.

Fear of recession

When he directly addressed the fiscal

cliff, he said that, if it goes unaddressed before the end of the year, recession is probable. Related factors that he cited included the weak consumer demand that was pointed out as recently as October by the Conference Board’s Ken Goldstein, as well as industrial output, which is at 78 percent of capacity. (It was at 81 percent before the recession.) Retiring baby boomers are stressing Medicare and Social Security. “The only way the model balances is with some kind of cuts,” he said. Theresa Williams, a Kelley School marketing clinical professor, examined the outlook for Indiana’s economy.

“I’m pleased to report that we’ve seen notable growth,” she began. Payroll employment has averaged 52,000 above last year’s model. The state’s rate of growth is comparable to that of the 1990s. Construction and manufacturing have experienced growth, and transportation and utilities have made “modest comebacks.” Manufacturing “helped pull us out of the slump,” to achieve the eighth-fastest overall growth in the nation. She said that Indiana personal income has kept pace with the nation. She forecast a gain of 1.8 percent next year. The state’s housing sector is “decid-

December 2012 The Business Connection 7

edly more upbeat than last year,” with sales up 5.7 percent. As of the time of her remarks, there were nine months of inventory on the market. Starts were up 34 percent. She predicted 14 percent growth in this sector next year. Concerning consumer spending, she said that consumers were changing their habits, budgeting more and viewing spending in terms of tradeoffs, such as big-ticket items vs. travel. “We’ve concluded that this is the new normal,” she said. She noted that there will be 600,000 more Hoosiers over the age of 65 by 2030 and asked, “How do we prepare for more retirement as well as the workforce we’ll need?”

Sunny locally Michael J. Oakes, director of the MBA program at IUPUC, provided the outlook for Columbus. Total employment for the area is around 50,000, an increase of 8 percent to 9 percent over the past year. Columbus still presently has one of the lowest unemployment rates anywhere in the United States. Hourly wages are running about 108 percent of the state average. He did caution that “we’re not

Attendees listen to the IU panelists during the business portion of the Economic Outlook Breakfast held at Columbus Learning Center.

independent” of other levels of the economy. Still, he said he was optimistic that entrepreneurs in the area are “finding ways around the silliness of Washington.” He spoke of the “package Columbus

has” that positions it advantageously. This includes the ability to attract talent and a robust tourism industry that accounts for between 8 percent and 10 percent of local jobs. He characterized Cummins Inc. as

“clearly the elephant in the room. It appears to be out front of its slowing trend. It’s in charge of its finances.” There was time for only one question from the audience, which was, “What is the responsible thing for Congress to do in light of this uncertainty?” Masson took it, replying that it was unfortunate that Congress didn’t act on the findings of the Simpson-Bowles commission. “We need to address structural issues, such as Medicare and retirement,” he said. “We haven’t reached a tipping point yet. We can still print a lot of dollars, but any increase in interest rates makes that difficult” to use as a last resort. At various points throughout the presentation, poll questions were flashed on a screen behind the panel and the audience was invited to text responses. Some interesting questions and responses included, “How connected do you feel to the global economy?” which garnered more “so-so” responses than either “very” or “not connected,” and “What’s the most pressing issue for your business?” which yielded 28 percent for “slow demand,” 27 percent for “hiring the right people” and 21 percent for “impact of health care.”

8 The Business Connection December 2012 By Joyce M. Rosenberg AP Business Writer

NEW YORK — President Barack Obama’s re-election takes away some of the uncertainty that small business owners have been carrying around. The question now is whether Obama can satisfy those who say he hasn’t done enough to help them expand and create jobs. During his first term, the president pointed to steps he took to help small companies, such as proposing the Small Business Jobs Act of 2010 that cut taxes for small companies and made it easier for them to obtain federally guaranteed loans. These steps have helped some small businesses start their recovery from the recession. “We’ve been seeing steady albeit modest growth in the economy since the president took office, and we are cautiously optimistic,” says John Arensmeyer, CEO of Small Business Majority, an organization that lobbies on behalf of small companies. Even so, many small business owners are critical of the president’s performance. They are anxious about taxes and the bulging federal deficit. Many opposed the health care overhaul and complain that they are being squeezed by excess regulations. “I’ve never seen that Obama understands what it takes to be a small business owner,” says Lorne Campbell, coowner of Occasionally Cake, an upscale baker outside of Washington, D.C. He’s worried not only about the economy, but also about looming budget cuts that could make his customers forgo the treats his two stores sell. So he has limited his hiring to part-time workers and doesn’t plan to hire anyone full time. Many advisers to small businesses say companies need to keep an eye on what’s happening with taxes and regulations, but they still need to try to expand and grow. “You should always be looking at maneuvering through an uncertain future instead of saying, ‘the future’s uncertain and I will do nothing,” says David O’Brien, a financial planner in Richmond, Va., whose small business clients include engineering firms and technology companies. Either way, small business owners should stay on top of what’s going on around them and their companies. What can small business owners expect from Obama on taxes, health care, the economy and regulation? The Associated Press interviewed small business experts and advocates to find out.

What small business owners can expect in second term John Arensmeyer is CEO of the Small Business Majority, an advocacy group for small business owners.

Taxes

No president has a complete say over how much anyone, including small business owners, will pay in taxes. Expect the divided Congress to battle over Obama’s request to raise the top tax rate on many business owners to 39.6 percent during 2013. That’s the highest personal tax rate, and it affects some small businesses because their owners report their business taxes on their personal returns. Republicans in the House will oppose that tax increase, and the result may be a stalemate. “I don’t think anything’s going to change,” says Peter Cohan, a lecturer in entrepreneurial strategy at Babson College in Wellesley, Mass. But Obama has made a point of proposing tax cuts that will benefit many small companies. He’s calling for the corporate tax rate to drop to 28 percent from its current 35 percent. Manufacturers would pay no more than 25 percent. He’s also backing more liberal tax deductions for small businesses that invest in new equipment. “Congress will be more willing to work with the president on these small business-targeted tax policies,” Arensmeyer says. Recent history shows that Arensmeyer may be right. Earlier this year, there was bipartisan support in

Congress for the Jumpstart Our Small Business Startups Act. It was designed to help small companies get financing more easily.

associated PRess

Obama’s re-election means the health care overhaul will continue to be implemented, but small businesses still have to wait to find out how much it will eat into their profits. Key provisions of the law go into effect in 2014, including the requirement that businesses with 50 or more employees provide affordable health insurance for their workers. What employers don’t know yet is how much that insurance will cost. That won’t be determined until states set up exchanges where individuals and companies can buy coverage. Now that the overhaul has survived the re-election of Obama and a fight that advanced earlier this year to the U.S. Supreme Court, another big legal challenge is unlikely, says Risa LavizzoMourey, president of the Robert Wood Johnson Foundation.

Primo, an associate professor of political science and business administration at the University of Rochester. The federal deficit is part of the problem. Obama has to curtail spending, but federal government spending is equal to nearly a quarter of income produced by U.S. citizens. Cut government spending, including federal contracts, and small businesses lose revenue and may cut jobs. Many have put hiring plans on hold because of uncertainty about what’s known as the fiscal cliff — the combination of severe budget cuts and the expiration of Bush administration tax cuts that takes effect with the new year. But if the deficit isn’t dealt with soon, taxes will have to rise in the coming years. That would leave small business owners with less money to invest in their companies. “That is ultimately going to be a huge problem. As government grows and the size of the deficit grows, that when you’ll see a drag on economic growth,” Primo says.

Economy and the budget

Regulation

Health care

Obama may not be able to do much to get the economy growing much faster than it is now. “I think both candidates were way overselling what they can do to create jobs and help the economy,” says David

Look for Obama to continue a mixed record on regulation — creating more rules that small businesses will need to follow, but also being vigilant that regulations won’t be too burdensome. see small on page 9

chamberconnection December 2012 Growing BUSINESS. Growing people. Monthly publication of the Columbus Area Chamber of Commerce • 500 Franklin Street • Columbus, IN 47201 • 812-379-4457

Get ready for the holidays in Columbus The holidays are a perfect time to stroll through town — grab a bite to eat, do some shopping and catch a movie at YES Cinema. You could also stop by the Columbus Area Arts Council, pick up the calendar of community events and plan to hear the next performance by the Columbus Indiana Philharmonic. There is always something fun going on in town. Enjoy downtown with a stop at Baker’s Fine Gifts and pick up a unique item for that hardto-buy-for person on your list. Or buy yourself one of these great holiday decorations. Don’t let the kids get too antsy when out shopping — stop by kidscommons for some fun. They’ll love it. So much yummy stuff to eat all over town. Bistro 310, Smith’s Row and Tre Bicchieri offer fine cuisine downtown. Stop by The Savory Swine, Columbus’ own butcher shop. Get the perfect cut of meat and the best wine to accompany your choice. Or have a nightcap at Johnny’s Bar inside Johnny Carino’s. Many of us use the holidays as a chance to spruce up our homes. Whether it’s a large remodel or just some decorating, Brands Inc., Pollert Design and Neal Paint and Wallpaper

are the places to go. Locally owned, they offer unique services that will complement one another and get your home in tip-top shape. Does someone on your list need a brand new car for Christmas? Stop by Renner Ford & Honda for a gift that is sure to amaze and delight. If a new car isn’t on Santa’s list, then stop by Ray’s Automotive for gift certificates. Don’t you

just love practical gifts? Whether you like indoor shopping or you prefer to be outside, stop by Fair Oaks Mall or Edinburgh Premium Outlets for a wide selection of gifts and gift cards. For those who would like to get a jump start on New Year’s resolutions, get a gift certificate at Natural Choices for Healthful Living. It has options to keep you eating, feeling and looking great. If you have some health-conscious friends and family members on your gift list, why not give them the gift of Zen? Zen Fitness offers all types of classes and workouts. Yoga is good for your body and good for relieving stress. You know you’ll take tons of pictures during the holidays so now might be time to upgrade your computer or perhaps repair the one you currently have. Midwest Computer Solutions can help you with both. If you are worn out by all the shopping, go see Hope Coatsworth at Exhale with Hope for a relaxing massage, followed by a night’s stay at the Comfort Inn & Suites. Who couldn’t use some extra pampering during the holiday season?

Calendar:

Register to attend events at www.columbusareachamber.com/events Check the Web site calendar for all upcoming events. Dec. 6 — Annual Holiday Party. 4 to 6 p.m., Clarion Hotel and Conference Center. Networking, food and fun. Free to attend; reservations requested.

Dec. 14 — TEN Talk. 8 to 9:30 a.m., Columbus Area Visitors Center. Free to attend; reservations required. Dec. 18 — GuideOne Insurance ribbon cutting. 11:30 a.m.

Save the Date Feb. 26 — Chamber Annual Meeting. 11:30 a.m. to 1 p.m., Clarion Hotel and Conference Center. Watch next month for more details.

Support businesses that support our community

Pollert Design

kidscommons

Smithâ&#x20AC;&#x2122;s Row

Neal Paint and Wallpaper

Columbus Indiana Philharmonic

Bakerâ&#x20AC;&#x2122;s Fine Gifts

Fair Oaks Mall

Bistro 310

The Savory Swine

Tre Bicchieri

Exhale with Hope

Zen Fitness

Natural Choices

YES Cinema

Edinburgh Premium Outlets

Comfort Inn

Starting in January

Facilitated by Jack Hess

Entrepreneurship & Innovation Series

Igniting the power of your small business.

Join other entrepreneurs and small business owners for a one-of-a-kind experience. In today’s world of big business, many entrepreneurs at one time or another may feel that they are left sitting on the sidelines. Now you can have a chance to learn key practices to help you build and grow your business. FUSE is designed to teach entrepreneurs and small business owners important principles of entrepreneurship and innovation that may be applied to their own business. They will then have the chance to apply these principles to their business and review them with experienced mentors. This series will consist of eight small group break-out sessions intermingled with the regular TEN Talks series and is being sold only as a series. Registration is limited! The enrollment fee is only $495 for Columbus Area Chamber of Commerce members and $595 for non-members, which includes all sessions, instructional materials and meals. Partial scholarships will be available to a limited number of participants to pay for series event fees. SPACE IS LIMITED! REGISTER NOW AT www.fuseleadership.com

New members

Support CYP and promote your business

Carver Toyota of Columbus

Columbus Young Professionals is partnering with local businesses to offer special discounts, deals or other offers exclusively for CYP members. CYP members will be able to show their membership card at participating restaurants, retail establishments, salons and more to receive a special offer. Don’t miss out on this opportunity to promote your business to an increasing population of young professionals and newcomers to the Columbus community. Participating businesses will be included on the CYP website and Facebook page and promoted via our e-newsletters. Our outreach includes:  Approximately 1,200 individuals who receive CYP’s e-newsletter.  Approximately 1,000 followers on Facebook and Twitter.  Approximately 100 current members. Want to participate? Have questions? Contact: Kristin Munn Partnership manager CAMEO, CYP & LBC 500 Franklin St. Columbus, IN 47201 812-379-4457 kmunn@columbusareachamber.com

Angie Ogle 812-526-7700 aogle@carvertoyota.com 10265 N. U.S. 31 Taylorsville, IN 47280

GuideOne Insurance

Ronald Marcoux 812-376-3237 ronald.marcoux@guideoneagent.com 3052 Columbus Center Columbus, IN 47203

GuideOne Insurance

Ryan Pigg 812-376-3228 ryan.pigg@guideoneagent.com 3052 Columbus Center Columbus, IN 47203

Noblitt Fabricating

Curt Aton 812-372-9969 curtaton@noblittfab.com 4735 N. Indianapolis Road Columbus, IN 47201

December 2012 The Business Connection 9

coach’s corner

Change is good With the elections behind us, all we know for sure is what we really should have realized before the elections — things are going to change. In reality, in the business world even if we never had another election, the one fact we can always count on is that things are going to change. Mark McNulty Change is how we grow, how we improve, how we achieve bigger and better things. No business has ever thrived without embracing change, and yours is certainly not likely to be an exception. The key to all of this is helping your team deal with this fact of life, because nature tries very hard to avoid change. The laws of physics tell us that a body at rest tends to stay at rest and a body in motion tends to stay in motion, unless acted upon by an outside force. This concept of inertia applies to your business just as it does to all matter in the universe. So how do we help our teams thrive on change? In business, our teams (and customers and suppliers) all have a natural

resistance to change, which we must learn to overcome. The formula I like to use to describe the process of overcoming change is this: D x V + F > R, where D stands for Dissatisfaction, V stands for Vision, F means First Steps, and R is the Resistance to change that must be overcome. As the business owner/leader, your dissatisfaction with the status quo is very real in your mind, and your vision for a better future can be crystal clear. Your team, however, may not have the same level of dissatisfaction as you do, and their vision might be far smaller than yours. This is normal, natural and to be expected. When you are ready to take your business in a new and improved direction, do you take the time to help the team recognize the limitations of the current approach? Do you help them see how much better it could be for them and your customers? If you are like most business owners, you skip those steps and jump right to the big announcement. Then you are disappointed when the staff acts really excited for about an hour, then productivity drops as the team frets about the change, complains that it will just be more work and unconsciously begins

small continued from page 8

Va. “Obama in his policies is quite moderate and quite willing to compromise.” Small business owners who are unhappy with regulations created during Obama’s first term are likely to find ways to get around them — particularly when it comes to health care. Some owners reluctant to buy health insurance for employees will make sure their companies don’t have the equivalent of 50 full-time workers — the threshold at which they’d have to provide coverage under the health care law. But owners will be happy with the Obama administration’s regulations that are designed to help them — lending and counseling programs at the Small Business Administration will continue to be a priority. “They can expect continued policies to foster small business,” says Caroline Daniels, a lecturer in entrepreneurship at Babson College.

“On the plus side, Obama has signed a handful of executive orders directing agencies to review and ease, where possible, regulations that have an undue burden on small business,” says Molly Brogan, a spokeswoman for the National Small Business Association, a group that lobbies on behalf of small companies. But she also says government agencies keep creating regulations that many small businesses find problematic, for example, proposals from the Equal Employment Opportunity Commission that prohibit employers from requiring that workers have a high school diploma or conducting background checks. “I don’t think there’s going to be a massive amount of difference for small businesses,” says Catherine Rudder, a public policy professor at George Mason University in Fairfax,

the process of sabotage of not just the new plan but even the existing one that previously was going so well. Your job as the leader is to help them embrace the need for the change, then to help them see the steps that will get them there painlessly. As part of rolling out any change, you must help the team see the shortcomings of the current approach, the areas where you are under-serving your customers, where your product line falls short. You must help them raise their dissatisfaction with the status quo. Then you must remind them of the vision, mission and values of the company and what the possibilities are within that context. You must share your vision and help them feel a part of it, making it their vision, too. I call this enrolling the team in the vision, and it is the leader’s number one job. Once the team begins to share in your dissatisfaction with how you are

Mission Management Services

currently operating and enrolls in your vision, then you can work with them to identify the first steps to take to implement the necessary changes. By working this way, you eliminate most of the irrational fears that the idea of change raises in people, the natural resistance to change. You must take these steps to overcome the inertia of your business, to change its heading by acting upon it with purpose. When people feel like an important part of your vision, they will work extremely hard to help you change things to better align with the picture you have painted. So when you are ready to take that next step, to the next level, remember to take the time to help your team help you get there. Mark McNulty is a business coach with ActionCoach Business Coaching. He can be reached at 372-7377 or mark@ coachmark.biz.

The staff at MMS has been providing customized, state-of-the-art business services to not-for-proﬁt organizations and small businesses since 2005. Contact us to discuss how MMS can assist you in your quest for success.

405 Hope Ave, Columbus, IN 47201 • Tom Brosey, Executive Director 812-348-4558 ext 212 • tom@mmserv.org

10 The Business Connection December 2012

Fade to black: Camera shop closing By Hayleigh Colombo Journal & Courier

LAFAYETTE — After more than six decades selling photography equipment and supplies to Lafayette residents, a downtown business will shut its doors this winter. Berry’s Camera Shop Inc. will close Dec. 15, a decision the family business made after battling decreased sales, lower profit margins and a rapidly evolving industry. “It’s a sad day, but it was one of those things we knew was coming,” said Bob Williams, who owned the shop from 1972 to 1997. That year, he retired and sold it to his children, Dawn Ross and Dan Williams. Ross told the Journal & Courier she grew up in the store. She teared up when talking about its history in Lafayette. Herman and Mary Berry started the business in 1948. “I was born into the business,” said Ross, the company’s president. “Berry was really like a grandfather. I remember standing on a stool and helping Dad process photos.”

AP Photo/Journal & Courier, John Terhune

Customers looking for bargains on discounted photographic equipment and supplies fill Berry’s Camera Shop in downtown Lafayette.

The store is still busy with customers who stop in to thank the owners for their technical advice over the years. Regular customers Tomalyn Lawson of Frankfort and her sister, Betty Ruch, took half of a vacation day to visit the store when they heard the news. “We’re going to lose that personal touch,” Lawson said. “They are experts on cameras. It’s going to be hard for us

FOR

INDUSTRIAL • RESIDENTIAL COMMERCIAL ROOFING SPECIALISTS Re-Roofing work on Castalia

SINCE 1947

ROOFING & SHEET METAL www.hrcroofi h fing.com

2845 Roadway Drive Columbus, IN • 812-372-8409

to get used to.” Ross said the community support she has received has been comforting. “I think they’re shocked,” she said. “It’s just sad. We wish we could do it, but we really can’t maintain the business.” Sales at Berry’s Camera Shop were steady until about three years ago. During the past 18 months, they have

dropped between 20 percent and 30 percent. The staff of six full-time employees has endured cuts in benefits and hours. The camera industry has struggled in recent years. A former industry heavyweight, Eastman Kodak Co., filed for bankruptcy protection in January. Founded by George Eastman in 1880, Kodak was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. But the company was battered by Japanese competition in the 1980s and was then unable to keep pace with the shift from film to digital technology. Ross said although the Berry’s Camera Shop staff embraced the digital revolution, younger people have different habits. “People are not printing photos anymore. The next generation is more about sharing photos.” Ross said it is important to support local businesses. “If you don’t, they’ll continue to disappear.”

December 2012 The Business Connection 11

Awards. Honorees are determined by surveys completed by consumers and financial service professionals covering customer service, integrity, knowledge/expertise, communication, value for fee charged, meeting of financial objectives, post-sale service, quality of recommendations and overall satisfaction. Kari Storey has joined the staff of the Blue & Co. Columbus office as a payroll specialist. Zac Nelson of Old National Bank has been promoted to market president of the bank’s north central region. He is responsible for commercial lending, developing comZac Nelson munity partnerships and introducing Old National in Columbus, Seymour, North Vernon, Hope, Greensburg and other nearby cities. Nelson joined Old National 12 years ago as a loan review analyst and most recently was senior vice president, commercial credit, in Indianapolis. He is a graduate of the University of Illinois, with a degree in accountancy, earned credit risk certification from the Risk Management Association and is loan-review certified through the Bank Administration Institute. Jason Schroer has joined Salin Bank as a new assistant vice president, commercial and agricultural banker. The Columbus native has worked for Fifth Third Bank and First Financial Bank. Jason Schroer He spent the past five years as chief executive of the Tipton Lakes Community Association. He has a Bachelor of Science degree in agriculture from Purdue University, where his major was agricultural economics. He is a graduate of the Midwest Ag Banking School through the Indiana Bankers Association. Craig Kessler, chief investment officer at Kessler Investment Group, has been named a top investment manager in the 2012 Indianapolis Monthly Five Star Wealth Managers of the Year

Warren Underwood, a lifelong resident of Vallonia, has been hired as maintenance technician for three shopping centers in Seymour owned by Regency Properties, a Warren Underwood commercial real estate company based in Evansville. Underwood’s responsibilities include the retail centers of Jackson Park, Seymour Plaza and Village Center. He comes to Regency Properties with 20 years of experience in carpentry, electrical, mechanical, welding and general maintenance, including seven years at Trilogy Health Services. Melodie Yarnell has joined JCB as assistant vice president of bank-wide risk management, compliance and security. She is a graduate of Wesleyan University, with a Melodie Yarnell bachelor’s degree in business and a master’s degree in business administration. A 17-year veteran of the banking industry, she most recently was vice president of human resources and loan operations at Heartland Community Bank. Bonnie Scott, a restorative aide at Seymour Crossing, recently received the Quest for Excellence Award in recognition of her commitment to excellence, dedication Bonnie Scott to her job, positive attitude and customer service. Seymour Crossing is an American Senior Communities provider of senior rehabilitation and memory care. More than 60 employees statewide were selected by their peers for the honor.

Joyce Lucke of Columbus has been named executive director of the Association for General and Liberal Studies, a national organization composed of higher education administrators of all levels. The members of AGLS are intent upon improving undergraduate liberal learning by advocating the centrality of general education and supporting its continuous improvement. Wanda McHolland, of Edinburgh, has received the Leave a Legacy Award at Ivy Tech Community College – Columbus/ Franklin. It is given annually to a retired Wanda McHolland employee or board member who has epitomized the Ivy Tech mission of “changing lives” by sharing time, treasure and/or talent for the benefit of our students. McHolland worked at the campus for 12 years until her recent retirement. She received the award as a result of her deep commitment and assistance to students, especially those who were part of the Job Corps, a

training program for economically disadvantaged youths. Roger Bingham, vice chancellor for student affairs at Ivy Tech Community College – Columbus/ Franklin, has received a doctorate in community college policy and administration Roger Bingham from the University of Maryland. He received a bachelor’s and a master’s degree in business administration from the University of Dayton. Bingham leads a team of more than 50 in the areas of admissions, advising, career services, disability support, financial aid, records, service learning, student discipline and student life. He also works with the iGrad program. Wendell Allen, a garbage truck driver for Rumpke, has been nominated for the Environmental Industries Associations Driver of the Year Award. He has collected trash for the residents of Bartholomew County for 24 years. — Staff Reports

At this special time of the year we would like to thank all of our clients for their patronage over the last 50 years and wish everyone

Front Row Left to Right: Faye Michael, Lori Burton, Suzie Shaw, Connie Oliver. Middle Row Left to Right: Andy Simms, Paul Schultz, Steve Boggs, Rain Barker, Tom Currens Back Row Left to Right: Steve Meredith, Bill Glick, Don Price, Bob Banister, Scott DeDomenic. Not Pictured: Bob DeDomenic. Securities offered by J.J.B. Hilliard, W.L. Lyons, LLC Member NYSE. FINRA & SIPC

436 Washington Street Columbus IN 47201 • 812-372-7892

12 The Business Connection December 2012

Roofing company honored South Central Roofing has received the 2012 Perfection Award from Carlisle SynTec Systems, a manufacturer of single-ply roofing materials. The award recognizes the top 5 percent of Carlisle’s contractors based on installation quality and warranty claim performance.

Plant owner files bankruptcy SOUTH BEND — The company that runs Indiana’s oldest ethanol plant has filed for bankruptcy protection a couple weeks after shutting down the plant because of higher corn prices and ethanol supplies. The top executive of South Bendbased New Energy Corp. says the plant has been up for sale since last year and that the Chapter 11 bankruptcy filing could help in finding a buyer. Company President Russ Abarr tells the South Bend Tribune that many ethanol companies are facing financial difficulties with this summer’s Midwestern drought and other factors. New Energy laid off 40 employees this month when it indefinitely idled the plant just west of South Bend. That plant opened in 1984 and can produce 100 million gallons of ethanol a year.

Japanese company expanding GREENSBURG — A Japanese company says it will spend about $38 million to expand an auto parts factory in southeastern Indiana. Hitachi Powdered Metals announced it would build a second facility at its site in Greensburg and plans for operations to start there next August. The company now has about 150 full-time workers at its Greensburg factory and expects to possibly hire 60 more people in the coming year.

ees in April. The company had more than 1,500 workers in Evansville before closing its refrigerator plant in 2010 and moving that production work to Mexico.

Around the watercooler

Hitachi says it is looking to hire for production, engineering and maintenance jobs. The company makes valve guides, gears, sprockets and pulleys for auto companies including General Motors, Ford, Honda, Toyota and Nissan.

Equipment dealer to expand WASHINGTON — A heavy equipment distributor says it will spend nearly $9 million to more than double the size of its southwestern Indiana facility. MacAllister Machinery Co. announced its plans to build and equip a 50,000-square-foot expansion of its facility in the Daviess County city of Washington. The company says the expansion will house sales, parts and services for its inventory of new and used Caterpillar heavy and compact construction equipment and genera-

tors. The Indianapolis-based company says it expects to add perhaps 60 jobs over the next four years in Washington. MacAllister says it now has nearly 100 employees in Daviess County among its more than 750 workers at 20 Indiana locations. The Indiana Economic Development Corp. offered MacAllister up to $800,000 in conditional tax credits and training grants.

Company plans to close factory GOSHEN — A company is planning to close a 450-worker factory in northern Indiana where it makes trailer hitches. Workers at the Cequent Performance Products factory in Goshen have been told about the closing plans, part of changes to make the company more competitive.

Whirlpool delays layoffs EVANSVILLE — Whirlpool Corp. says it is delaying planned layoffs at its development center in Evansville in part because some people have left their jobs ahead of the center’s scheduled 2014 closure. The company informed state officials that it expected to start layoffs in November, but now says those job cuts won’t begin until at least Dec. 31. About 100 people now work at the Refrigeration Product Development Center, down from about 230 employ-

Software company to expand INDIANAPOLIS — A scientific software company is planning to expand its Indianapolis operations after it was recently picked to provide its software to the federal Centers for Disease Control and Prevention. Indigo Biosystems says it has expanded its office space at its headquarters on the city’s north side and expects to add perhaps more than 60 employees over the next couple of years. The Indiana Economic Development Corp. says Indigo has received nearly $2 million in grants in recent years from the state’s 21st Century Research and Technology Fund to develop its Ascent software. The company says that software helps researchers analyze medical tests performed on millions of patient samples every year.

Casino cuts 80 jobs GARY — A northwestern Indiana casino is blaming the economy and increased competition for its decision to lay off about 80 workers. A spokeswoman for Majestic Star Casino and Hotel in Gary says the job cuts will leave it with about 1,300 employees. The union that represents the workers said they didn’t receive advance notice and some had worked at Majestic Star for as long as 16 years. Unite Here Local 1 spokeswoman Carley Karmel says the union is worried about additional layoffs by the ownership that last year took over the casino along Lake Michigan after its previous owner went through bankruptcy.

Airports lift state economy Indiana’s 69 public-use airports contribute $14.1 billion in annual economic impact, according to a report released by the Aviation Association of Indiana. The study also credits the industry with creating and sustaining more than 69,000 Hoosier jobs. Indianapolis International Airport contributed the most to the state’s economy at $4.5 billion and about 21,000 jobs. Fort Wayne International Airport’s portion is $975.4 million and nearly 5,000 jobs. — Staff and Wire Reports

December 2012 The Business Connection 13

Holidays can raise employee issues By Joyce M. Rosenberg AP Business Writer

NEW YORK — Some of the stress that small business owners feel around the holidays may come from employee issues. For example, several staffers want to take the same days off. Parents want to leave early so they can catch their kids’ holiday recitals. Some employees want to install religious displays in their cubicles, and others feel offended. A look at these situations, and how to handle them:

Time off

Owners often get multiple requests from staffers for the same day off. Some of those requests were made months ago, but there are often procrastinators who plead for time off at the last minute. Owners may feel sympathetic, but they also need to be sure that the work gets done. And the latter needs to be the priority. So if one or more staffers already have dibs on the day and you can’t afford to let anyone else be off, others may unfortunately have to be disappointed. But there’s a larger issue to be considered. How do you grant vacation or other paid time off? Do you have a written policy, or deal with time off on an ad hoc basis? And as part of that policy, do you spell out how you handle multiple requests? Making your policy up as you go along means you’re likely to have resentful employees. For instance, if you OK one staffer’s vacation on a first-come, first-served basis, but on another occasion decide that a more senior employee should get the day off. Helene Wasserman, an attorney with the labor law firm Littler Mendelson in Los Angeles, says employees need to be treated equally. And not just to keep morale up. You might not think anything untoward about handling time off in an uneven manner, but Wasserman says a disgruntled employee might see it as unequal treatment and use it as evidence in a discrimination suit in the future. “Innocent actions can frequently become perceived as something sinister,” she says. Along that line, if you allow one staffer to leave early for school events or even to do some shopping, you’ll need to offer a similar opportunity to leave early to other staffers. But let’s say you have employees who you’d like to reward for their hard work by letting them have an early departure time. And you don’t offer it to workers whose performance you’re not happy with. Wasserman advises against such a practice and notes again that unequal treatment, even if you have the best of intentions, could be interpreted as discrimination. She also recommends, “Don’t be a Grinch.” Be a little more flexible about work time during the holidays as long as it doesn’t hurt your productivity. Just be sure to keep track of everyone’s hours to be sure everyone is treated equally.

gious items on their desks, cubicles or work area? Wasserman recommends that owners allow their workers to use such decor. She likens the items to religious jewelry and says, “You don’t want to squelch personal expression of religion.” The fact that these items are being displayed in a worker’s personal work space takes them out of the areas used by other employees. Therefore, religious displays aren’t being sponsored by the company. Wasserman also recommends that if you’re having a party or other celebration to mark the season, be sure you call it a “holiday” party and not a “Christmas” party.

Holiday decor

If you decorate your company’s premises for the holidays, keep it secular, Wasserman advises. That means you shouldn’t display a Nativity scene. The reason is concern for employees’ feelings — not everyone is comfortable with a religious display. And they could also feel discriminated against. But Christmas trees and wreaths, holiday lights and figures of Santa Claus and reindeer are considered secular and acceptable in the workplace, according to a directive from the Equal Employment Opportunity Commission in 2008. What if employees want to display a Nativity scene or other reli-

(812) 372-7829

Mike Bonham

Mbonham@jwinsurance.com

Dan Fox

dfox@jwinsurance.com

14 The Business Connection December 2012

BUSINESS LEADS n COMMERCIAL BUILDING PERMITS 3771 GEMSTONE DR NEW COMMERCIAL BUILDING $976,840 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR RES APTS 21676 SF 3772 PICEA PLACE NEW COMMERCIAL BUILDING $1,262,626 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW RES APTS 22076 SF 3773 PICEA PLACE NEW COMMERCIAL BUILDING $975,736 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI OWNER NEW RES APTS 19358 SF 3774 NORWAY LN NEW COMMERCIAL BUILDING $1,126,626 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI OWNER NEW RES APTS 22076 SF 3775 NORWAY LN NEW COMMERCIAL BUILDING $857,121 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW RES APTS 18662 SF 3776 NORWAY LN NEW COMMERCIAL BUILDING $975,736 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW RES APTS 19358 SF 3777 NORWAY LN NEW COMMERCIAL BUILDING $857,121 SPRUCE RIDGE PARTNERS LLC

OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW RES APTS 18662 SF 3778 BLUE CT NEW COMMERCIAL BUILDING $1,179,093 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW RES APTS 22940 SF 3779 BLUE CT NEW COMMERCIAL BUILDING $975,736 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW RES APTS 19358 SF 3780 SITKA CR NEW COMMERCIAL BUILDING $857,121 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW RES APTS 18662 SF 3781 SITKA CR NEW COMMERCIAL BUILDING $1,179,093 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW RES APTS 22940 3782 SITKA CR NEW COMMERCIAL BUILDING $975,736 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW RES APTS 19358 SF 3783 SITKA CR NEW COMMERCIAL BUILDING $1,179,093 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW RES APTS 22940 SF 3770 BLUE CT NEW COMMERCIAL BUILDING

october $53,148 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW MAINT BLDG SPRUCE RIDGE 732 SF

11701 N EXECUTIVE DR COMMERCIAL REMODEL $15,000 CRACKER BARREL OWNER DEREK ENGINEERING CONTRACTOR CRACKER BARREL/REM

3770 BLUE CT NEW COMMERCIAL BUILDING $506,989 SPRUCE RIDGE PARTNERS LLC OWNER SHEEHAN CONSTRUCTIONSPRUCE RI CONTRACTOR NEW CLUBHOUSE SPRUCE RIDGE 4206 SF

3525 TWO MILE HOUSE RD COMMERCIAL REMODEL $38,000 ECKELMAN, BECKY OWNER SCHAEFER DEVELOPMENT LLC CONTRACTOR COM REM 1067

221 CARRIE LN COMMERCIAL REMODEL $80,000 BOB EVANS FARMS INC. OWNER AMERICAN TRADESMARK CONSTRUCTION CONTRACTOR BOB EVANS/REM 3170 INDIANA AVE COMMERCIAL REMODEL $350 EAST COLUMBUS CHRISTIAN CHURCH OWNER WOODALLS ROOFING CONTRACTOR EAST COLUMBUS CHRISTIAN CHURCH 3080 OUTLET DR COMMERCIAL REMODEL $88,927 SCHALINSKE, BRENDA OWNER/ CONTRACTOR OSH KOSH REMODEL 15793 E 800 N COMMERCIAL ADDITION $9,000 VERIZON WIRELESS OWNER/ CONTRACTOR CELL TOWER 2223 POSHARD DR COMMERCIAL REMODEL $691,525 COLUMBUS HOSP/COL BEHAV HEALTH OWNER STRAUSER CONSTRUCTION CONTRACTOR COL BEHAV CTR BATH REMODEL 1600 SF

11606 N E EXECUTIVE DR COMMERCIAL REMODEL $19,700 EDINBURGH PREMIUM OUTLETS OWNER LENNOX CONTRACTOR NEW ROOF TOP AIR UNIT 2515 25TH ST NEW COMMERCIAL BUILDING $800 AMERICAN LEGION #24 OWNER/CONTRACTOR AMERICAN LEGION/SMOKING BUILDING 3275 SCOTT DR COMMERCIAL ADDITION $20,000 AT&T OWNER GOODMAN NETWORKS CONTRACTOR CELL TOWER ADD 400 E 200 S COMMERCIAL ADDITION $20,000 AT&T MOBILITY OWNER GOODMAN NETWORKS CONTRACTOR CELL TOWER ADDN 2655 CENTRAL AVE COMMERCIAL ADDITION $20,000 AT&T MOBILITY OWNER GOODMAN NETWORKS CONTRACTOR CELL TOWER ADDN 1441 W 700 S COMMERCIAL ADDITION $20,000 AT&T OWNER GOODMAN NETWORKS

December 2012 The Business Connection 15

Are we ready to talk about rich and poor counties? During the recent election campaign, candidates talked about per capita personal income (PCPI) as a measure of our state’s economic success. Let’s now pretend that our governor-elect, his staff and his legislature all know that Indiana’s per capita personal income, relative to the nation, is slipping. Morton Marcus Let us further fantasize that these men and women also understand what PCPI is and is not, why it is the most commonly used measure of economic well-being and why it is the wrong measure. Finally, let’s imagine that counties are of consequence to Indiana’s new political elite. This is the greatest assumption we’ll make since it would be a reversal of state policy. Over the years, Indiana local governments, including counties, have become less important

as their powers are diminished and their responsibilities increased. The legislature plays them like yo-yos, twisting and turning them in strange arcs, yanking them like disobedient tethered dogs. The story of Indiana’s PCPI from 2000 to 2010 begins with a statewide decrease of 2.3 percent after adjustment for inflation. This happened as total personal income grew by 4.1 percent, but population increased by 6.5 percent. Our real income did not grow as fast as the number of people living in the state, hence PCPI fell. PCPI grows when total personal income increases faster than does the population. This happened in just 30 of our 92 counties, including Monroe, Porter, Vanderburgh, Floyd and Jefferson. At the same time, 14 counties, including Hancock, Johnson, Clark, and Lake, had faster population growth than personal income growth. The consequence: PCPI declined

despite positive growth in both population and income. If the rate of population decline is smaller than the rate of increase in personal income, then PCPI rises. Between 2000 and 2010, this happened in 18 Indiana counties, including Jay, Sullivan and Knox. A closer look shows Knox County (Vincennes) leading the state in PCPI growth (15.4 percent) because it lost 2 percent of its population while increasing its real personal income by 13.1 percent. Is Knox County our model for prosperity? In sum, real PCPI fell in 41 of 92 counties. In 30 counties real personal income fell, and in 29 counties population declined. Is the state’s policy with regard to PCPI going to be expressed in terms of the whole state? Or will there be an interest in seeing counties with low PCPI increase their position in the state, reducing the disparity between the richest and poorest counties? In 2000, the wealthiest county, as

measured by PCPI, was Hamilton at $55,675 in 2010 inflation-adjusted dollars. Two recessions during the decade, plus moderate inflation and the state’s leading population growth rate (49.3 percent) reduced Hamilton County’s PCPI to $48,692. In that decade the wedge between the wealthiest and the poorest counties grew. In 2000, Hamilton stood 2.28 times as wealthy as the poorest county Starke; in 2010 Hamilton’s edge over Lagrange (the new poorest county) was 2.44. Are our new policy makers ready to consider hunting with a rifle, that is, county-by-county economic development? Or are they going to continue the long-term practice of shotgun development where we satisfy ourselves with whatever we hit?

CONTRACTOR CELL TOWER ADD

MILLER, BILL OWNER/ CONTRACTOR

RH TREE CARE, 1777 19TH ST.

2840 S 550 W COMMERCIAL ADDITION $20,000 AT&T WIRELESS OWNER GOODMAN NETWORKS CONTRACTOR CELL TOWER ADDITION

6103 PELICAN LN $294000 RES/NEW M/I HOMES OF INDIANA OWNER/ CONTRACTOR

NEW 4358 SF RES/BMT/GAR PHILLIPS DEVELOPMENT INC OWNER/CONTRACTOR

n RESIDENTIAL BUILDING PERMITS 10040 E 600 S $230000 NEW 4753 SF RES/BMT/GAR WORKS, KLINT OWNER FERGUSON, TRENT CONTRACTOR 6108 HERON CT $273000 RES/NEW M/I HOMES OF INDIANA OWNER/ CONTRACTOR 4695 MAPLELAWN DR $100000 NEW 2046 SF RES/GAR

6138 PELICAN LN $353000 RES/ NEW M/I HOMES OF INDIANA OWNER/ CONTRACTOR

2698 VIOLET WAY $200000 NEW 4103 SF RES/BMT/GAR PHILLIPS DEVELOPMENT INC OWNER/CONTRACTOR

Morton Marcus is an independent economist, writer and speaker.

MVP ELECTRICAL, 4710 WOODCREST DRIVE PING GENERAL CONTRACTORS, 10934 W. OLD NASHVILLE ROAD JOHN FISCHER SERVICE & REPAIR, 442 S. CHERRY

1097 WESTVIEW POINT DR $1300000 NEW 9894 SF RES/BMT/GAR TURNER, BARRY OWNER NICHTER, ROGER CONSTRUCTION CONTRACTOR

MIKE HAYES PLUMBING, 7745 N. ROAD 400W

n CERTIFICATES TO DO BUSINESS UNDER ASSUMED NAME

S&J SMALL ENGINES, 470 S. MAPLETON ST.

PETE THE SWEEP, COLUMBUS

LAGS BILLIARDS, 1731 STATE ST.

3683 SIOUX TR $221000 NEW 2595 SF RES/GAR THOMPSON CONSTRUCTION OWNER/CONTRACTOR

EXCELLENT TIMING CONCIERGE, 4846 FOX TRAIL LANE

SURREAL STUDIO, 2686 19TH ST.

2678 VIOLET WAY $200000

R.S. WARREN CONSTRUCTION, 4261 REECE LANE

10061 S 500 W $170090 NEW 2708 SF RES/GAR SULLIVAN, JUSTIN OWNER HALLMARK HOMES CONTRACTOR

HOPE HOODS, 4211 N. ROAD 1000E, HOPE

MUSTANG GAL, 3142 28TH ST.

S&J SPORTS CARDS, 151 HAUSER DRIVE, HOPE

AMERICAN FAMILY INSURANCE – KYLE PETTY, 3130 N. NATIONAL ROAD