Indiana Business Review articles from December 2003

Indiana Business Review archives from December 2003

For the record.
December 22, 2003... War. Capture. Plant closings. The digital economy. Flu. Life sciences. All aging baby-boom. Prescription drug bill. A beloved Governor dies. An ex-POW takes the reigns. Morton Marcus "retires" after three decades of service to Indiana, but...

Outlook for 2004.
December 22, 2003... Every October, a group of faculty at the Kelley School of Business gathers to discuss the economic outlook for the nation and the state. The discussion begins with the latest forecast generated from the U.S. model developed at the Center for...

The U.S. economy.
December 22, 2003... The U.S. economy during 2003 has been an exercise in cognitive dissonance. By most measures, the economy has performed quite well (and quite close to the outlook we presented a year ago). Yet the "man on the street" by most reports believes...

The international economy.
December 22, 2003... Economic growth in the world is likely to come in at 3.2 percent for 2003, measured in terms of real Gross Domestic Product (GDP), compared to growth rates of 2.4 percent in 2001 and 3.0 percent in 2002. The International Monetary Fund in...

Financial forecast.
December 22, 2003... The past three years have been tough on investors with declining stock market returns and low interest rates. Furthermore, notable companies such as Enron, Worldcom, and United Airlines have gone bankrupt, wiping out the entire stock valuations...

Corporate governance and reporting.
December 22, 2003... Overwhelmingly, company financial statements and tax returns are prepared with integrity by honest managers and audited by competent professionals with proper skepticism. Fraud and misleading reporting barely impact economic projections. ...

Housing.
December 22, 2003... The jobless recovery has not deterred people from buying homes over the past year and this is expected to continue in 2004. Low interest rates resulted in housing affordability hitting a thirty-year high early in 2003, although rising home...

Indiana.
December 22, 2003... After a long period of uncertainty fed by mixed economic signals, more and more economists are dancing to the tune that the jobless recovery of the U.S. economy is finally turning around. In Indiana, however, clear support for a change in the...

Anderson.
December 22, 2003... Employment is the big story nationally. Many communities are faced with the difficult task of attracting more jobs. Anderson and Madison County are no exception. The competitive environment brings new demands for creativity and accommodation...

Bloomington.
December 22, 2003... A booming housing construction market continues to characterize the Bloomington economy. Year-to-date estimates from the U.S. Census Bureau indicate continuing growth (see Figure 1). Added to recent commercial and retail construction throughout...

Columbus.
December 22, 2003... As we look ahead to 2004, the nation is emerging from a different kind of recession. That difference is going to have an important impact on Columbus and Bartholomew County. The national economic recovery that began in late 2001 has not...

Evansville.
December 22, 2003... The Evansville economy was stalled for much of 2002, as measured by the index of economic activity maintained at the University of Evansville (see Table 1). Reaching a peak in 1999, it posted an inconsequential decrease in 2000, but fell by 3.4...

Fort Wayne.
December 22, 2003... Manufacturing is disappearing. No, it's manufacturing employment that's disappearing. As shown in Figure 1, the total value of goods manufactured in the U.S. has declined approximately 6 percent since mid-2000, but that's not exactly a...

Gary.
December 22, 2003... Employment in the northwest Indiana economy (Lake and Porter counties) has remained fairly constant during 2003 (252,100 in January and 252,400 in September), a development comparable to the nation as a whole. Nonetheless, the local economy...

Indianapolis.
December 22, 2003... Hyper-fix, a downtown interstate highway project, was completed with such efficiency that it has been forgotten. The relocation of I-70 alongside the airport is in progress and causing few problems. The U.S. 421 and I-465 interchange was...

Kokomo.
December 22, 2003... As noted in the international, national, and state economies, the recovery is officially on, the economy is perking upward, and we expect continued growth. However, the Kokomo economy, while improving, is still lagging a bit behind Indiana and...

Muncie.
December 22, 2003... The recession of 2001 may have been one of the mildest on record for the national economy, but try telling that to a Muncie area business, particularly in manufacturing. The two-year long cratering of business spending nationwide, now seemingly...

New Albany.
December 22, 2003... During 2003, the economy of southern Indiana continued to perform better than state and national economic trends. The New Albany area actually experienced a net job gain over the past year, as the unemployment rate has begun to decrease. The...

Richmond.
December 22, 2003... The Richmond-Connersville-New Castle (RCNC) area economy can expect a rebound in 2004. Business activity will pick up from its current lackluster performance. This is predicated upon national economic performance, which, in turn, will influence...

South Bend/Mishawaka and Elkhart/Goshen.
December 22, 2003... To help understand how we came to where we are today, Table 1 and Figure 1 chart the longer term progress of the Michiana region, of which South Bend/Mishawaka and Elkhart/Goshen are a major part. The index numbers in Table 1 and Figure 1 use...

The big picture.(Outlook Summary for 2004)
December 22, 2003... * Bill Witte on the National Forecast: Gross Domestic Product is to approach 4 percent next year. This growth should be more broadly based than during the past two years, with significant help from business investment in new plant and...

Indiana metro areas.(Outlook Summary for 2004)
December 22, 2003... * Barry Ritchey on Anderson: Income in the county continues to lag behind income for the state, which lags behind income growth for the country. That performance is a continuing trend for this community. * Morton Marcus on Bloomington: The...