Happy New Year!

May everyone have a very Happy New Year!

Merry Christmas, Everyone!

Have a very Merry Christmas & a Happy New Year!

Bernanke on FAQ's

Chairman Ben Bernanke answers FAQ's in a speech at the Economic Club of Washington, D.C.: http://www.federalreserve.gov/newsevents/speech/bernanke20091207a.htm

IBJ: Indiana Troopers Association Files BK

The Indianapolis Business Journal is reporting that The Indiana Troopers Association has filed for bankruptcy protection. More here at the IBJ: http://www.ibj.com/indiana-troopers-fraternal-group-files-bankruptcy/PARAMS/article/14941

Who Is Filing Bankruptcy?

A statistical chart of who is filing bankruptcy can be found here:
http://www.fancystats.com/who-is-filing-bankruptcy/

2010: IRS Lowers Standard Mileage Rates 10%

Beginning January 1st, 2010, the Internal Revenue Service will reduce the standard mileage rate for the use of a vehicle for business purposes to fifty (50) cents per mile, a ten percent (10%) reduction to the current allowance.

Modern-Day 'Cavemen' Inherit Billions

Here's a quirky rags-to-super riches story: http://www.ananova.com/news/story/sm_3584037.html

Un-Banked in America

The recently released 'FDIC National Survey of Unbanked and Underbanked Households' stated that "Nearly 20 percent of lower-income U.S. households -- the almost 7 million households earning below $30,000 per year -- do not have a bank account."

For other stats from this survey, see the Executive Summary here: http://www.fdic.gov/householdsurvey/executive_summary.pdf

New Publication Coming in December!

A new publication is coming to the tri-county area of Greene, Sullivan, & Knox counties in December 2009. Their website will be located at http://thecurrentclassifieds.com/

Radius Indiana Announces Its Leader

A few weeks back, Radius Indiana announced its leader for the newly-formed regional orgnaization: http://www.in.gov/portal/news_events/43412.htm Meanwhile, note the blurb at the end that SAIC announced plans to locate employees in the new East Gate facility. The BEdford facility is picking up steam, it appears.

Financial Literacy & The Typical American

Good article on financial literacy in America today, although no surprise:
http://news.yahoo.com/s/bw/20091109/bs_bw/jul2009pi20090722420432;_ylt=AgjkT1Z1_YbtLQml0L3Epius0NUE;_ylu=X3oDMTNtM2xnczl2BGFzc2V0A2J3LzIwMDkxMTA5L2p1bDIwMDlwaTIwMDkwNzIyNDIwNDMyBGNjb2RlA3JhbmRvbQRjcG9zAzcEcG9zAzQEcHQDaG9tZV9jb2tlBHNlYwN5bl9oZWFkbGluZV9saXN0BHNsawNhbmFseXNpc2FyZXA-

Golf Carts & Tax Credits

We've all heard of the 'Cash for Clunkers' program, but now there's buzz about golf carts qualifying for electric car tax credits. The Wall Street Journal had an article on it the other day, which can be read here: http://online.wsj.com/article/SB10001424052748704107204574473724099542430.html The devil is in the details it seems though.

VARIOUS TAXES: A State-By-State Comparison

There was an interesting graphic posted at stateline.org, which shows how the various states stack up against one another on various taxes. Take a look:

http://www.stateline.org/live/details/story?contentId=430433

Goody's or Peebles Opening Soon?

Stage Stores, Inc. operates under the Bealls, Palais Royal, and Stage names throughout the South Central states, and under the Peebles and (now) Goody's name throughout the New England, Mid-Atlantic, Southeastern, and Midwestern states. They purchased the Goody’s chain assets in early-2009, according to company-provided information.

One of these names, but likely Peebles in my estimation, will operate out of the old Goody’s location in Linton. They may re-open under Goody’s, but I’m thinking that it would be best to open under a new nameplate, such as Peebles. More info on Peebles can be found here: http://www.peebles.com/

In a September release, however, the Company stated, “The Company expects to open an additional eight new stores during the next three months, six of which will be opened under the Goody’s name.” I’m hoping one of the unnamed six is in Linton, but that would make my guess on the nameplate wrong. Linton may not be one of these six too. Only time will tell, I suppose. Most recently, they opened Goody’s stores in Martinsville & Princeton, according to August & September 2009 press releases, so hopefully they are closing in on the Linton location soon.

APPEALS COURT: Greene County Jail Escape?

Is it 'escape' when an inmate leaves his/her jail cell, but doesn't intend to escape out of the facility? And does the 'intent' of the inmate even matter? These are questions that the Indiana Court of Appeals answered earlier today. While the majority did not consider it an act of escape and punishable as a crime, one judge dissented saying that indeed it was.

The Court's opinion can be found here:
http://www.in.gov/judiciary/opinions/pdf/10070902jgb.pdf

Federal Spending Growth Outpaces Median Income

Here's some very interesting charts on federal spending & more:
http://www.heritage.org/research/features/BudgetChartBook/Federal-Spending-Grew-Seven-Times-Faster-Than-Median-Income.aspx

As you'll see, growth in federal spending has outpaced growth in median household income for nearly 40 years now...

Property Taxes By State: A Map

The Tax Foundation has put out a map of the United States, which shows property taxes on owner-occupied housing by state. See how you rate against other states here:
http://taxfoundation.org/research/show/24078.html

The Mortgage Electronic Registration System

A method to speed along mortgages during the peaks of recent years may now be back-firing on lenders now. More here in the New York Times: http://www.nytimes.com/2009/09/27/business/27gret.html?nl=your-money&emc=your-moneyema4

More Taxes, O' They Are Coming

More reassurances that local tax increases are on their way soon:

http://www.chicagotribune.com/news/chi-ap-in-strainedbudgets,0,6566458.story

COA: Indiana Voter ID Law is 'Unconstitutional'

An Indiana Court of Appeals opinion dated earlier today calls the Indiana Voter ID law "unconstiutional" by stating, "we conclude that the Voter I.D. law violates Indiana Constitution Article 1, Section 23, and must be declared void because it regulates voters in a manner that is not uniform and impartial."

You can view the Court's whole opinion here:
http://www.in.gov/judiciary/opinions/pdf/09170901par.pdf

FDIC Deposit Insurance Calc: An Online Tool

If you’re unsure that you’re fully-protected, ‘EDIE the Estimator’ on the FDIC website will calculate your current FDIC insurance on deposits at financial institutions, based on some simple information inputted into the online calculator.

The website address is: https://www.fdic.gov/EDIE/index.html

Deep Thoughts @ McDonald's

Exactly what type of fish makes up the McDonald's Filet-O-Fish?

The New York Times answers this question & more here:
http://www.nytimes.com/2009/09/10/science/10fish.html?no_interstitial

Who knew?!

New Beige Book Release - Chicago District

A new release to the Beige Book for the Chicago District is shown here:
http://www.federalreserve.gov/fomc/beigebook/2009/20090909/7.htm

Lower Bail for Alanar Defendants Denied

Greene County’s own Judge Dena Martin, who is serving as a Special Judge in Sullivan County’s case against Vaughn Reeves Sr. and his three sons in the Alanar church bond scandal, said that the defendants failed to show why their bonds should be lowered; therefore, she denied lowering their bond, as requested by their counsel. Bob Hunley, Sullivan County’s Prosecutor, said they were a flight risk if their bond was lowered. From the outcome, it appears he was persuasive in his arguments.

More on this story can be found on Forbes.com @ http://www.forbes.com/feeds/ap/2009/09/08/business-financial-impact-us-fallen-church-financier-indiana_6860294.html

FYI - Increased FDIC Insurance Extended

For those of you that may not yet be aware, deposits at FDIC-insured banking institutions are now insured up to at least $250,000 per depositor through December 31, 2013. This marks an extension from the original time period this additional coverage was to run.

Internet Speeds

Interesting new results about Internet speeds: http://www.speedmatters.org/content/2009report/

E-Mail Forward Wisdom

Today's Thought of the Day:

If 'con' is the opposite of 'pro' in the English language, is Congress the opposite of progress?

It's Not Coal, It's a Mastodon!

The Chicago Tribune, Indianapolis Star, & Terre Haute Tribune Star newspapers are all reporting stories of coal miners recently finding the fossil remains of a mastodon at Vectren’s Black Panther Mine in Sullivan County, Indiana. The miners are being praised for stopping operations and setting aside the soil surrounding the remains for review by scientists.

Here are links to the news stories:
http://www.chicagotribune.com/news/chi-ap-in-mastodonbones,0,7063154.story
http://www.indystar.com/apps/pbcs.dll/article?AID=/20090818/NEWS/908180373
http://www.tribstar.com/news/local_story_230115433.html

More info on mastodons can be found here at Wikipedia:
http://en.wikipedia.org/wiki/Mastodon

Indiana Businesses

There’s a lot of Indiana-based business news coming out today, including:

In Indianapolis, Steak ‘n Shake will acquire the Western Sizzlin’ restaurant chain, various news reports state.

To the southwest, in Terre Haute, a new agri-business incubator on the Wabash Valley Fairgrounds is planned, which will help early-stage companies.

Working down further south in the state in Santa Claus, Holiday World announced it will spend $5.5 million for a new water ride, dubbed ‘Wildebeest’. The water ‘coaster’ will cover more than two acres, they say.

Perhaps, the economy is beginning to turn positive.

Indiana & the Tomato

The 'Who knew?' factoid of the day: Indiana ranks second in tomato production in the United States.

Not So Finger-Licking Good

I think I'll eat in tonight after reading this: http://www.timesonline.co.uk/tol/news/world/article6737005.ece

Current Beige Book

New Beige Book entry for the Seventh District (Chicago), which we are located in:
http://www.federalreserve.gov/FOMC/Beigebook/2009/20090729/7.htm

PRESS RELEASE: (1) Linton Police Officer Funded!

(Washington, D.C.) - Vice President Joe Biden and Attorney General Eric Holder today announced $1 billion in grants to fund the hiring and rehiring of law enforcement officers all across the country under the American Recovery and Reinvestment Act of 2009. The grants will be awarded to 1,046 law enforcement agencies from all 50 states, including more than $26 million in grants to fund the hiring and rehiring of 126 law enforcement officers in Indiana. These funds will provide 100 percent of the approved salary and benefits for these officers for three years. All police departments receiving the grants will then be required to retain the grant-funded positions for a fourth year.

“A big part of the Recovery Act is about building communities – making them as strong as they can be, allowing every American family to live a better life than the one they are leading now,” said Vice President Joe Biden. “And we can’t achieve the goal of stronger communities without supporting those who keep our streets safe.”

The Recovery Act grants, which will be administered by the U.S. Department of Justice Office of Community Oriented Policing Services (COPS) through the federal agency’s COPS Hiring Recovery Program, provide much needed financial support to state, local and tribal governments, and will help the nation’s law enforcement agencies add and retain the manpower needed to fight crime more effectively through community policing. The Department of Justice received over 7,200 applications for more than 39,000 officer positions, representing a total of $8.3 billion in requested funding.

“These Recovery Act funds will pump much needed resources into communities through a program with a proven track record,” said Attorney General Holder. “The tremendous demand for these grants is indicative of both the tough times our states, cities and tribes are facing, and the unyielding commitment by law enforcement to making our communities safer.”

City: Gary - Number of officers: 11 - Grant money: $2,076,514.00

City: East Chicago - Number of officers: 5 - Grant money: $1,120,105.00

City: Indianapolis - Number of officers: - 50 Grant money: $11,046,850.00

Michigan City Police Department - Number of officers: 3 - Grant money: $592,641.00

City: Clinton - Number of officers: 1 - Grant money: $134,136.00

Kokomo Police Department - Number of officers: 5 - Grant money: $1,146,950.00

Marion Police Department - Number of officers: 4 - Grant money: $947,500.00

South Bend Police Department - Number of officers: 13 - Grant money: $2,453,295.00

Anderson Police Department - Number of officers: 6 - Grant money: $1,501,434.00

City: Terre Haute - Number of officers: 6 - Grant money: $1,204,896.00

Akron Police Department - Number of officers: 1 - Grant money: $143,176.00

Clarksville Police Department - Number of officers: 2 - Grant money: $467,844.00

Lafayette Police Department - Number of officers: 4 - Grant money: $915,564.00

Merrillville Police Department - Number of officers: 3 - Grant money: $588,090.00

Lake Station Police Department - Number of officers: 1 - Grant money: $186,183.00

Montezuma Police Department - Number of officers: 1 - Grant money: $129,288.00

Town: Spencer - Number of officers: 1 - Grant money: $138,942.00

City: LaPorte - Number of officers: 2 - Grant money: $382,154.00

Muncie Police Department - Number of officers: 5 - Grant money: $1,160,175.00

Linton Police Department - Number of officers: 1 - Grant money: $161,370.00

Nashville Police Department - Number of officers: 1 - Grant money: $118,635.00

Source: The White House

Restaurants: 4,000 Fewer This Year

The economy is hurting everyone, including the 'mom-and-pop' diners and other independent eateries. If there's any silver lining, though, will the reported 4,000 fewer restaurants in the U.S. mean smaller waistlines for Americans too? Read more on recent restaurant closings within the United States here: http://www.npd.com/press/releases/press_090727.html

AllState Ends Sponsorship of Brickyard

Today, AllState announced it would end its sponsorship of the Brickyard 400. I just wonder who will pick up the sponsorship now?

Money & Politics in Indiana

If you want to follow the 'money trail' as they say, the Indy Star has made up a database of all-things-lobbyist for Indiana, which can be seen here in their Money & Politics section: http://www.indystar.com/data/government/lobbyists_search.shtml

FOR SALE: Linton Taco Bell

It seems everything is FOR SALE in Linton these days!

Here's a listing for the Linton Taco Bell:
http://colerealtyadvisors.com/uploadedFiles/Properties_for_Sale/Offering%20Flyer%20-%20Taco%20Bell%20Linton%20IN.pdf

In past posts, you've read where Stoll's was for sale: http://magiccoalcity.blogspot.com/2009/03/update-asking-price-going-down.html

But apparently, they've switched Realtors now:
http://www.bizbuysell.com/work/429949/dastolls,linto.pdf

And even the Linton DQ is for sale:
http://magiccoalcity.blogspot.com/2009/03/for-sale-lintons-dq.html

Jasonville "Mayor's Ride" Fundraiser

Here's some info on the 1st Annual Jasonville Mayor’s Ride:

"The ride will consist of a 93 mile motorcycle ride touring scenic areas of southern Indiana. All proceeds from the ride will benefit the city park. The ride is Saturday, August 29th, 2009.

Registration begins at 9:00 a.m. ride begins at 10:00 a.m. The ride will begin and end at the City Park on North Lawton Street. There will be food and fun for everyone. All motorcycle riders and enthusiasts are welcome.

We would appreciate any and all donations to offset the cost of the food and drinks. Hamburgers, Hotdogs, Potato Salad, Soft Drinks, Plates, Cups, Table Service, Napkins and/or monetary donations will be accepted. Please consider donating to this worthy cause.

For more information or donation, please feel free to contact me at my office 812-665-2266.

Thank you in advance for your donation.

Mayor Roy Terrell, Sr."

Eastern Greene's Farmers Market

Looking for something different to do on a Saturday? Check out the new Farmer's Market in Solsberry. For more info, see: http://easterngreene.org/market.aspx

LMF Design Winner

To follow up on the LMF t-shirt design contest posted in May http://magiccoalcity.blogspot.com/2009/05/lmf-t-shirt-design-contest.html a winning design has been crowned. The winning design can be seen here: http://www.shirtriot.com/ShirtRiot/User/ContestDetails.aspx?cst=37 Congratulations!

For more info on the Linton Music Festival, the website can be found here: http://www.lintonmusicfest.com/

Today's Milestone: Happy 300th!

At 6PM today, the 300th post was added. Happy 300th!

Linton's Newest Rockstar: Pinkie

The other day, I wrote about the rare bird spotted recently in the Goose Pond area: http://magiccoalcity.blogspot.com/2009/07/pinkie-roseate-spoonbill.html

Well, 'Pinkie,' the roseate spoonbill, is getting more news coverage on WISHTV: http://www.wishtv.com/dpp/news/indiana/Rare_bird_spotted_near_Bloomington_20090625
Maybe Pinkie should become Linton’s new mascot…

Bad Checks in Linton

About a month ago, FOX59 ran a story about Linton’s own Jim’s Petro Plus and his now infamous ‘bad check writers sign’ located prominently in front of the store: http://www.fox59.com/wxin-bad-check-sign-061709,0,6087588.story

Knowing several local business owners, bad checks are rampant.

Unfortunately, they also are not prosecuted for the theft they really commit, and I’ve never really understood that. If someone grabs an item in a store & walks out with it, they seem to be charged with more than someone who grabs the same item & walks out with it after writing a bad check for it.

Really, what’s the difference?!

Tax Sale Dates for Nearby Counties

Upcoming property tax lien sales are tentatively scheduled for these nearby counties:

Owen 09/01/09
Sullivan 10/06/09
Daviess 10/23/09

More dates to follow as they become available.

Pinkie, the Roseate Spoonbill

The Courier Press posted a nice article around 12 hours ago about 'Pinkie,' a roseate spoonbill found at the Goose Pond recently: http://www.courierpress.com/news/2009/jul/12/migrant-birds-get-major-wow-at-goose-pond/

Visitors to the area may find this map with local eateries and points of interest helpful: http://www.gcedc.us/PDF/visitorhandout.pdf

FREE SERVICES: Greene County Health Dept.

From the Greene County Health Department:

"We would like to get the word out about the HPV Vaccine. The state has allowed us to offer, at NO CHARGE, the HPV Vaccine to any woman under 19 years old and to any woman 19-26 as long as they start the series before December. The cost is between $400 & $600 for the series. Please have anyone interested to contact us at 812-384-4496.

We are also doing the TDAP & Meningitis vaccines that will be required to attend jr. high & high school starting NEXT school year 2010/2011.

Please call for an appointment."

Low-Calorie Diet Extends Lifespan

Put down the bag of cheesy Doritos and jug-o-cola and read this: http://online.wsj.com/article/SB124718227356220229.html#mod=todays_us_nonsub_page_one

Alanar Scandal: Receivership Link

As regular readers know, charges were recently filed against the Reeves family for this church bond scam in nearby Sullivan County. More info from the other day can be found here: http://magiccoalcity.blogspot.com/2009/07/alanar-saga-continues-with-charges.html

When a huge scam unravels in your own backyard, the story is all the more riveting. Here’s a link to the law firm that has been handling the Alanar receivership: http://www.silegal.com/cases/alanar/

It contains lots of good background information, and it's been a website I've been following for quite some time, so I thought I'd share the link.

Road Salt Not So Salty This Winter

The State of Indiana is working with local government units to reduce the price of road salt needed on Hoosier roadways this next winter.

Press release: http://www.in.gov/portal/news_events/40286.htm

Injunction Issued Against Misleading Companies

Here's the text from a recent newsletter from the Indiana Secretary of State:

"Indiana Corporate Compliance, International Corporate Compliance, Inc. and Papillon Global Marketing, LLC are no longer allowed to misrepresent themselves as a government agency to Indiana business owners thanks to an investigation conducted by the Indiana Secretary of State. The Marion County Superior Court issued a permanent injunction requiring the companies to immediately stop sending any written notices or transmissions that could reasonably be interpreted as a compliance notice from a government entity.
In May, the Indiana attorney general's office filed a complaint against the companies, most commonly known as Indiana Corporate Compliance, alleging multiple violations of Indiana's Deceptive Commercial Solicitation Act. Individuals Aaron V. Williams and Lisa Diane Brown, both of California, were also named in the lawsuit. Indiana Corporate Compliance had been sending letters to businesses all over Indiana under the guise of the Business Services Division of Indiana Secretary of State Todd Rokita's office, citing a fictitious state law implying businesses were required to send up to $150 for record keeping services.
"The permanent injunction is an important step forward in our ongoing efforts to prevent Indiana businesses from being deceived," said Secretary Rokita. "Obtaining this judgment is the direct result of the tireless work by my investigators and the cooperation of hundreds of businesses from around the state who were targeted by this scam. My office will continue to make businesses aware of these types of scams, and I thank Attorney General Zoeller and his team for working with us to bring justice through the legal system."
The Secretary of State's office, which registers and certifies Indiana businesses, began an investigation as a result of complaints it received from businesses. A hearing will be scheduled to determine the total amount of damages which could be awarded to those who fell victim to the scam. More than 150 Indiana businesses reported sending money in response to the letters from Indiana Corporate Compliance and its affiliates.
Recipients of the letters reported believing the compliance notices were generated by a government agency and were misleading and confusing. As a result, the court found it reasonable that business owners would be confused and would comply with the notice."

Fellow Lintonian Inventors of Yesteryear

I've become infatuated with Google Patents http://www.google.com/patents lately. So, I decided to look up some inventors of local interest. Doing a search for ‘Linton, Indiana’ yielded some local patent holders of yesteryear, as shown below. Who knew!

Inventor: Marion N. Thayer
Subject: Improvements to Umbrella
Patent number: 912206
Issue date: Feb 1909
Google URL: http://www.google.com/patents?id=kllNAAAAEBAJ&printsec=description&zoom=4

Inventor: George F. Chapman
Subject: Screw-Threading Implement
Patent number: 938973
Issue date: Nov 1909
Google URL: http://www.google.com/patents?id=PrZXAAAAEBAJ&printsec=abstract&zoom=4

Inventor: Earl T. Aikin
Subject: Burial Casket Plate
Patent number: 1602185
Issue date: Oct 5, 1926
Google URL: http://www.google.com/patents?id=ZbNSAAAAEBAJ&printsec=abstract&zoom=4

Inventor: William H. Stewart, et al.
Subject: Improvements to Surface Mining
Patent number: 1872016
Issue date: Aug 1932
Google URL: http://www.google.com/patents?id=fkhkAAAAEBAJ&printsec=abstract&zoom=4

Sullivan Gentlemen Add to Mining in 1915

A little earlier in the patent history for mining tools, specifically in 1915, two local Sullivan County gentlemen received a patent on certain improvements to acetylene lamps too. Here’s the patent: http://www.google.com/patents?id=X5BkAAAAEBAJ&printsec=abstract&zoom=4&source=gbs_overview_r&cad=0

Jasonville Inventor - circa 1924

For all of you local coal mining historians & enthusiasts out there, on March 11th, 1924, Samuel G. Thomasson of Jasonville, Indiana received a patent on improvements to the acetylene lamp. Here is the patent from Google Patent Search: http://www.google.com/patents?id=R0FHAAAAEBAJ&printsec=abstract&zoom=4&source=gbs_overview_r&cad=0

Jefferson's Code Finally Cracked

Interesting article in the WSJ Online about breaking a 200 year old code used by Thomas Jefferson: http://online.wsj.com/article/SB124648494429082661.html

Alanar Saga Continues with Charges Filed

The saga of the Sullivan, Indiana-based Alanar, Inc. continues with charges filed against the family involved with the massive church bond fraud yesterday, June 30th, in Sullivan County. Here’s the Sullivan County press release: http://www.sullivancountyprosecutor.com/alanar/press_release.pdf

Here are the links to the probable cause affidavits for the Reeves family members:
http://www.sullivancountyprosecutor.com/alanar/Vaughn_Sr_Affidavit.pdf
http://www.sullivancountyprosecutor.com/alanar/Chip_Affidavit.pdf
http://www.sullivancountyprosecutor.com/alanar/Chris_Affidavit.pdf
http://www.sullivancountyprosecutor.com/alanar/Josh_Affidavit.pdf

Here are the links to the felony charges filed against each of the Reeves family members:
http://www.sullivancountyprosecutor.com/alanar/Vaughn_Sr_Counts.pdf
http://www.sullivancountyprosecutor.com/alanar/Chip_Counts.pdf
http://www.sullivancountyprosecutor.com/alanar/Chris_Counts.pdf
http://www.sullivancountyprosecutor.com/alanar/Chris_Counts.pdf

I knew of some elderly ladies duped in this massive fraud, and it’s just really disgusting.

Partial State Shutdown Soon?!

If state lawmakers fail to pass a new budget by midnight, employees working in 'non-essential' services will be furloughed. This could get very interesting.

Madoff Gets 150 Years!

Multi-billon dollar investment schemer, Bernard Madoff, was sentenced to 150 years this morning. For his victims, however, that is probably still not enough time in prison.

Attention Chase Card Customers

Those of you with Chase credit cards should be sure to open any and all mail received from the company and read it carefully – don’t dismiss it because it has fine print, looks like junk mail, or whatever the case may be.

Changes in terms are now being mailed to Chase customers, which may have a dramatic effect in how much per month will be required. Borrowers are being told that their minimum monthly payments are going from 2% of the total balance to 5% as of their August 2009 billing cycle. Some, who have had a balance for two years or more on a Chase card, reportedly are going to be assessed a new $10 per month servicing fee too.

No doubt, this will cause considerable cash flow problems for many Americans, who have Chase cards in their wallet. It could be that other large card issuers will follow suit with similar minimum requirements, too, so be sure to open & read mail from all card issuers that you may be doing business with.

Unemployment Will Hurt Local Grant Apps?

Greene County's current unemployment rate is high, yet as compared with other Indiana counties, it ranks as the 75th worst unemployment rate. That's according to the data posted the other day on this blog.

And that'll hurt.

Many grant applications ask for unemployment data and stats, and ranking in top 'most employed' counties -- wow, that's hard to believe! -- that'll subtract points for submissions.

Indiana Unemployment Rate Up Again

WISH-TV is showing the Indiana unemployment has risen to 10.6%:
http://www.wishtv.com/dpp/news/indiana/Ind_jobless_rate_percent_in_May_20090619

Greene County ranked 75th with 8.8%.

Like a Good Neighbor

Interesting little story out of the Evansville Courier Journal printed yesterday:
http://www.courier-journal.com/article/20090618/NEWS02/906180358/

Is Muncie Foretelling of What's to Come?

With local funding shortfalls, will our area see consolidations too?

Muncie, Indiana is battling this with fire fighters & stations, but it seems to me that more governmental services could be affected as well. Read this article on Muncie's consolidation plans: http://www.thestarpress.com/article/20090606/NEWS01/906060311

Is Muncie at the forefront of the issues to come here locally soon?

Halted Chrysler Sale is Restarted

The other day, the Supreme Court lifted the stay on the sale of Chrysler to Fiat, making this a very bad day in history for the Treasurer of Indiana, as well as Indiana teachers, troopers, and others. Here's the document: http://www.scotusblog.com/wp/wp-content/uploads/2009/06/chrysler-order-6-9-09.pdf

Beige Book - June 10th

Beige Book update: http://www.federalreserve.gov/fomc/beigebook/2009/20090610/7.htm

The Hoosier Lottery

This is a very interesting article on the inner-workings of the Hoosier Lottery:
http://www.thestarpress.com/article/20090607/NEWS06/90607006/1002/rss

What ever happened to funding education?!

Property Tax Bills Will Hit Mailboxes Soon

According to the Greene County Treasurer’s Office earlier today, the county's property tax statements will be placed in the mail next week. Friday, June 26th will be the due date, they said.

Chrysler Sale Affects Teachers, State Troopers, & All Hoosiers

The Indiana State Teachers Retirement Fund, Indiana State Police Pension Trust, and Indiana Major Move Construction stand to lose millions, even as secured creditors of Chrysler. The federal government, using taxpayer-funded TARP monies, is trying to take on higher-priority status than these secured creditors, according to State Treasurer Richard Mourdock.

According to documents, not only are the Feds trying to push the sale of the Chrysler through quickly, but offering these Indiana pension and construction funds only pennies on the dollar to sell the Company’s assets to foreign-owned Fiat.

Here is the Treasurer’s Press Release:
http://www.in.gov/tos/files/TreasurerMourdockObjectiontoChryslerBankruptcy.pdf

Here is Indiana’s court objection:
http://www.in.gov/tos/files/Docket_1185.pdf

Full Text of Governor's Budget Address

The full text of Governor Daniels' Budget Address from yesterday evening:

Governor Mitch Daniels

Budget Address

June 1, 2009

Good evening, citizens and taxpayers.

As you know, the legislature didn’t pass a budget before they adjourned a month ago. That’s OK, because the one they were working on assumed over a billion dollars of revenue we clearly will never have. So it would have spent way beyond our current means, wiped out our state savings account, and forced a big tax increase. I’d have had to veto it, and we’d be right where we are today.

To their credit, the legislative leadership quickly came up with a good plan for starting fresh, this time with a more believable estimate of how much money we really will have to work with.
Despite the terrible national economy, Indiana remains in vastly better shape than most states, and any of our neighbors. We have over a billion dollars in reserves, and a AAA credit rating. Everywhere else, any reserves are long gone. They are slashing education by as much as 10 to 15 percent; they’re releasing convicts from prison early; and, worst of all when families are struggling, they’re raising taxes. There’s only one reason why we are so different: because we have held government spending down to the level of our income. But if we lose our sense of discipline now, in no time we’ll look just like Michigan, or Illinois, or, heaven forbid, California.

Since my first submission in January, state revenues have slipped even further, an unprecedented 8 percent below last year. When businesses don’t make profits, investors have losses not gains, and people are out of work, earning less and spending less, tax payments plummet.

It’s not pleasant, but it’s reality, so let’s deal with it. I have modified further the tight budget I proposed four months ago, and here are the major points:

Total state spending would be reduced by 2 1/2 percent. Many good ideas will just have to wait. Across state government, nothing, and I mean nothing, goes up. When your income drops by 8 percent, you can’t increase your spending, on anything.

Here’s a sample of the reductions we’re prepared to make (See attached document). Please note that we have already reduced per capita state spending substantially the last four years.
There is only one exception. Public education, as well as student financial aid, would get a significant increase. Every school would receive more per student than it did this year. And if by some happy chance, state revenues turn out better than projected, I’m proposing that one of every two extra dollars go automatically to our schools, with the rest going to our savings account. Let’s hope it happens.

These last couple years, Indiana schools have been among America’s luckiest, fully funded through the downturn while schools in other states were clobbered by massive cuts. Our goal is to keep it that way, although in times this tough no sector has a right to demand business as usual.

As always, I am ready to compromise and cooperate with the legislature, up to a point. I’m willing to see us use about a quarter of our surplus, leaving a billion dollars in reserve, but not a penny less. A billion is a lot of money, but it’s only about 26 days of state operations. If legislators want to spend more on some favorite cause, that’s fine as long as they offset it elsewhere. Add a dollar, cut a dollar. And, of course, no gimmicks, and no tax increases.

Our legislature has done a good job of helping us live within our income these last few years, while other states spent themselves into catastrophe. By working together again, we can protect services, taxpayers, and our pro-jobs business climate, positioning Indiana to lead economic recovery as it begins.

You can help. If you’re a taxpayer, ask your legislators to put the general public interest first, and say no to the special interests who demand money we just don’t have right now. When some lobbyist or legislator promises more spending on some favorite cause or project, ask him “Which of my taxes are you proposing to raise, and why do you want to do that?”

Across America, people are asking how Indiana has kept its head above water while everyone else is drowning. It’s because we’re Hoosiers, of course; we have this quaint custom of not spending money we don’t have. If we keep our common sense now, we’ll get through this very tough patch and come out ahead of other states.

Thanks and good night.

An Image Makeover

For those of you noting the commotion at the local Wal-Mart, it's all part of the plan: the image makeover plan, that is. Almost all stores nationwide will be receiving a cleaner looking, brighter space. More info about the new image can be found here in an article from the Arizona Daily Star: http://www.azstarnet.com/allheadlines/293181

LMF T-Shirt Design Contest

The Linton Music Festival is holding a design contest for this year’s official LMF t-shirt at http://www.shirtriot.com/ShirtRiot/User/ContestDetails.aspx?cst=37 Enter to win the $150 prize being offered, plus money from every shirt sold through the shirtriot.com website using your winning design!

The Blade

I found it amusing that the cover art of the June 8th, 2009 edition of National Review features a caricature of Governor Daniels as ‘The Blade,’ a name reportedly given to him by former President Bush. Said cover can be found here: http://nrd.nationalreview.com/

The Staggering Debt in the USA

Here’s the thirty-minute version of a thought-provoking documentary, entitled I.O.U.S.A., which is about the staggering debt in the USA today: http://www.iousathemovie.com/

Bear Run Mine in 'Mileposts' Newsletter

Here’s a link to the Spring 2009 edition of the ‘Mileposts” publication, the official newsletter of the Indiana Rail Road Company, which highlights the new Bear Run mine in Sullivan County, Indiana: http://www.inrd.com/images/pdf/Mileposts_Spring_2009_Extra.pdf

Making a Buck on the Dollar Menu

There’s an interesting article on the profit margins for some of the fast food 'dollar menu' promos of late, which can be found here:

http://finance.yahoo.com/career-work/article/107106/Can-They-Really-Make-Money-Off-the-Dollar-Menu?mod=career-selfemployment

Have a Great Extended Weekend!

I'm taking an extra-extended holiday weekend. Hope everyone has a safe & very happy Memorial Day with plenty of cookouts and IndyCar racing. Tune in next Tuesday!

Q&A with Charlie Munger

Interesting Q&A interview with Charlie Munger of Berkshire Hathaway fame:
http://www.law.stanford.edu/publications/stanford_lawyer/issues/80/pdfs/sl80_munger.pdf

No More 'Gotcha' Tactics Soon?

An AP story out today says new legislation will soon make credit card companies’ surprise fees and other ‘gotcha' tactics unlawful: http://finance.yahoo.com/news/Senate-votes-to-limit-credit-apf-15292841.html?sec=topStories&pos=1&asset=&ccode

Oh Boy, Where's This Going?

The Evansville Courier & Press ran this story about cost-cutting measures for I-69: http://www.courierpress.com/news/2009/may/18/18web-Daniels/

Teachers, Have You Heard About This?

On the RTV6 blogs, the Indiana State Teachers Association is the 'talk of the town': http://rtv6blogs.com/rtv6_capitol/2009/05/14/ista-lobbyist-we-are-going-to-put-all-our-cards-on-the-table/comment-page-1/ I’m curious to know what any local educators have been told about this situation, if anything…

Bankers Should Be Boring

At lunch the other day, I read in the New York Times an interesting quote from a banker in nearby Jasper, Indiana, which I thought I’d share here…

“Banking should not be exciting. If banking gets exciting, there is something wrong with it.”
-Clay W. Ewing, President of Retail Financial Services
German American Bancorp, Jasper, Indiana

The full article can be found here: http://www.nytimes.com/2009/05/12/business/12small.html

The Carnegie Heritage & Arts Center

The Carnegie Heritage & Arts Center of Greene County, which is located in the old Margaret Cooper Library in Linton, will be having a Grand Opening this Saturday, May 16th from 11 AM to 7 PM.

There will be musicians playing throughout the day, refreshments available, a pottery demonstration, and plenty of art to peruse while you’re there.

Several local people have put a lot of time & energy into the building. So, check it out!

Lions & Tigers & Storms, Oh My!

The thunderstorms the other night made me think about computer files & paper records, for some reason. Perhaps, it’s because I work in risk management.

Natural disasters, such as Hurricane Katrina, could teach us all something though. And I wonder if we really all got the message sometimes. Although we may never have a hurricane in southwestern Indiana, there are plenty of other perils that could have similar results.

So, here’s a thought for the weekend:

Do you have a routine in place at home & business that all of the computer info is backed up at certain intervals? How about records and documents on paper and not in ‘electron form’?

If so, are these back-ups kept off-premises? Disasters like tornados and fires may not be too kind even if you do have back-ups, but they’re on premises.

Thought of the Day: Auto Dealerships

Here's a thought for today:

With all the announcements of cutting the number of dealerships in the national news, particularly with GM & Chrysler, what will southwestern Indiana be left with in the end?

As for Chrysler, here's a website dedicated to their restructuring: http://www.chryslerrestructuring.com/

From The Partnership for Fair & Affordable Energy

I received this e-mail earlier today, which you may want to read. It's cut-and-pasted below:

"Wabash Valley Power Association, Hoosier Energy, IMPA and Indiana Statewide is working to inform and educate consumers, the media and our elected officials about the impact that proposed carbon reduction legislation would have on Hoosier citizens. As a brief overview of the topic, it’s certainly difficult to pinpoint when and what the final legislation will look like – but the moving target appears to have enough support that it could cost as much as an additional $50 per MONTH per Hoosier household. This surcharge would be bundled with electric bills, as the consequence, in essence, for our state’s dependence on coal. So our joint group has created a :30 TV commercial that began airing today. In addition, we’ve developed a web site that explains the issue and encourages people to join us in showing their support to legislators for keeping the cost for electricity fair and affordable. We expect this effort will be an ongoing process, although the initial TV buy is just for two weeks now, and two more weeks in June. After that, we’ll re-evaluate in terms of public support and Congressional direction. By the way, the group is operating under the name, The Partnership for Fair and Affordable Energy. And while we have several members in other states, at this point the project is limited to Indiana. We’re continuing to work with our other Statewide associations to find ways to support the issue in their states. You’ll find the site at http://www.blogger.com/www.fairpowernow.org. On the Video Gallery section, you can view the TV commercial. We encourage you, if you agree with the message, to sign the petition and to share it with your friends and family. This is truly a grass roots effort, and is not at all limited to co-op members. '

Postage: Two More Cents Today

It’ll cost you two more cents today – now 44 cents -- to mail a first-class letter at the Post Office. This is unless you stocked up on ‘Forever’ stamps beforehand.

In a previous post from 2007, I discussed hoarding stamps as an oddball investment vehicle. I surmised it was a very low rate of return, but if they keep moving up every year around Mother’s Day, I may need to re-evaluate my rate of return calculations.

The previous post can be found here: http://magiccoalcity.blogspot.com/2007/10/new-twist-on-forever.html

More Jobless In USA

New jobless rates are coming out. Read more here:
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/08/AR2009050800394.html?hpid=topnews

While reading, though, keep this post in mind: http://magiccoalcity.blogspot.com/2009/02/unemployment-101.html

FYI - Linton City Council Monthly Meeting

The Linton City Council's monthly meeting is scheduled for the first of next week - Monday, May 11th, 2009 @ 7PM. The Board of Works meeting is prior to the Council meeting.

Linton First Annual City-Wide Yard Sale

I thought I'd pass along an announcement I received last night:

'Drag those unused items out of the attic and the garage, gather your nickels and dimes, and rev your engines because the City of Linton will hold its first annual City-Wide Yard Sale on Saturday, May 30th over Phil Harris Weekend (Greene County Foundation Festival). The sale will begin at 8 am and continue through the day ending at 5 pm, so be sure to tell your friends, relatives, and co-workers to spread the word around. Participants will be posting their own signs so be on the lookout at all street corners and the major intersections along SR 54 and SR 59. Be sure to look out for downtown businesses, churches, and community groups that may also be participating throughout the community along sidewalks, parking lots, and community rooms. Planning is already underway for the next City-Wide Yard Sale event, so if you have any ideas or suggestions, please contact Deidra Brumfield via email at deidra1972@yahoo.com. Look for members of the Planning Committee visiting the day of the sale to get contact information for a mailing list for the next City-Wide Yard Sale event.'

Worse Than Swine Flu

To put things in perspective, over at Foreign Policy, they outline some of the top disease outbreaks, which are much worse than the recent Swine Flu: http://www.foreignpolicy.com/story/cms.php?story_id=4910

Got Music?

I've been a little distracted lately from the normal economic & business grind, so I thought I'd share a more light-hearted link today. If you haven’t visited this site before, it’s a very cool little website: http://www.pandora.com/

Simply type in your favorite artist and the website takes care of the rest -- finding your likely other musical favs – with remarkable accuracy I might add. If it’s not quite so accurate for you, you can simply add some variety by entering additional songs or bands to help the site along with its musical search for you.

Finally, your very own radio station! Boy, local stations may be in real trouble in the very near future if more people start going to listening online like this.

Vigo Co. Commissioner Resigns

What a wild story that began surfacing last week in nearby Vigo County! Read more here in the TribStar about a Vigo County Commissioner busted for meth dealing: http://www.tribstar.com/news/local_story_121221256.html?keyword=topstory

Thanks Magic Coal Readers!

Thanks everyone for bearing with me this past week while I attended to some matters. I’m back in full-force now, so stay tuned for news & commentary!

Out Rest of Week

Sorry, but due to circumstances beyond my control, I'll be out the rest of the week. Thanks.

New Considerations When Buying a New Car

A New York Times article sums up some important considerations before buying your next vehicle, especially those made by GM or Chrysler:

http://www.nytimes.com/2009/04/25/your-money/25money.html?8mon&emc=yma1

Bank Robber Appeals Conviction

The armed robber of one of the Linton branches of Mainsource Bank recently appealed his conviction. Here is the Court of Appeals legal opinion, which affirms the prison term given: http://www.in.gov/judiciary/opinions/pdf/04240910ewn.pdf

‘Tis the Season to Start Growing

With a lot of farm ground in the area, it may be helpful for newer landlords to peruse this document by Purdue on farm leases, including tax considerations:
http://www.ces.purdue.edu/extmedia/EC/EC-713.pdf

Bear Run Mine - A 'Rumor Has It' Update

An update to the post written a little over a month ago here: http://magiccoalcity.blogspot.com/2009/03/350-new-jobs-bear-run-mine-in-sullivan.html

Word on the street now has it that 350 ‘new’ jobs in previous headlines may not be entirely accurate. Instead, most of the staff needed at the new Bear Run Mine may actually be transfers from three other area mines, which are owned or otherwise affiliated with Peabody, such a the nearby Farmersburg Mine, among others.

Sources also indicate ‘very thorough’ physicals are being given, including hair sample drug testing. So, put down the triple cheeseburger, lose a few pounds, visit the gym, quit smoking & drinking, and lay off the drugs beforehand.

In Search of Black Gold

If you own some acreage in the area, no doubt you’ve probably been approached about leasing your ground for oil exploration. If not, you may be hit up very soon. With energy a current, nationwide concern, the search for new wells is on-going.

Here’s a good piece from Purdue, which discusses many of the aspects related to oil leases: http://www.ces.purdue.edu/extmedia/EC/EC-564.pdf It’s aimed at ‘what you need to know’ before you sign the lease… but has good information for even those that may have already signed on the dotted line.

Freddie Mac Official Dead

Quite a story on the apparent suicide of a top Freddie Mac official: http://finance.yahoo.com/news/Reports-Freddie-Mac-official-apf-14995348.html?sec=topStories&pos=1&asset=&ccode=

And more details here: http://www.wtop.com/?nid=25&sid=1657033

Indiana's Biggest Ag Industry

What’s Indiana’s biggest agricultural crop, which is also one of Greene County's too?

Although your first thought may have been corn, soybeans, or hay, it’s actually wood products. Purdue University has built a website to bring together approximately 1,600 companies in the wood products industry into one directory online. The website – with a lot of interesting links -- can be found here:

http://www.indianaforestproducts.com/

The Amish – Unemployed

The Chicago Tribune has an interesting article about the effects of the economic downturn on the Amish. Read more here: http://www.chicagotribune.com/business/chi-sun-amish-unemployed-apr19,0,1055868.story

Purdue Life Sciences Biz Plan Comp

Applications are being accepted for the Purdue University Life Sciences Business Plan Competition, which is aimed at uncovering promising entrepreneurship in the life sciences area. There is $100,000 in prizes available to the top-ranked submissions. The deadline for registration is May 18th.

More info can be found here: http://news.uns.purdue.edu/x/2009a/090416KahnLifesci.html

Interactive Jobs Map

Over at Slate, they have a pretty neat interactive map of the U.S. over the past 2+ years, showing job gains and losses – well, mostly losses lately. You can find it here: http://www.slate.com/id/2216238/

Beige Book

Here's the new Beige Book release for our district this afternoon: http://www.federalreserve.gov/fomc/beigebook/2009/20090415/7.htm

The 2009 Pig Book Arrives!

Well, it's finally the much-dreaded tax day, April 15th. What better way to celebrate it than a publication showing where at least some of all those tax revenues go!

See, each year, the Citizens Against Government Waste releases what is known as the ‘Pig Book’. It highlights what the group deems as various governmental ‘pork barrel’ spending, and the 2009 version has now arrived:

http://www.cagw.org/site/DocServer/Pig_Book_full__April_13_2009_.pdf?docID=3561

Enjoy!

CEOs: It’s Good To Be Fired

Getting fired isn’t so bad for corporate CEOs in America these days. Take the recent ‘retirement’ of GM's Rick Wagoner, who received $20 million to ride off into the sunset, according to this ABC story: http://abcnews.go.com/Blotter/story?id=7208201

At that pay rate, I’d gladly volunteer to get fired -- daily.

Once Again, The ‘Net is Changing Things

College students have a new resource when they sleep through that 8AM class. The website has notes posted by various universities, but predominately from ones in Indiana it seems. (Four of the current five top note-posting schools are located within Indiana.)

Not to promote skipping class, but this website might help if you do: http://www.isleptthroughclass.com/

Boy, how the internet is changing everything!

City Council Meeting Tonight

The Linton City Council meeting is scheduled for this evening - Monday, April 13, 2009 @ 7PM. The Board of Works meeting is prior to the Council meeting.

Why Southwestern Indiana Won’t Get Funds

To get federal stimulus funds, a project must be ‘shovel ready’ to be approved.

And while a submission for funds for Greene County, Linton, and other cities & towns was submitted, few, if any, will be funded due to this. As this article explains http://www.wthr.com/global/story.asp?s=10153050 projects must be ready to go & complete with design plans done, right-of-ways purchased, and environmental studies completed. As it goes on, this takes time and money – and both are not a reality is this area.

So, look for very few, if any, federal stimulus money coming our way. I’m sure Indianapolis will cash in though; they always do.

ALERT: Counterfeit Bills in Area

Counterfeit $10 bills are reportedly showing up in the Linton area. Local businesses & individuals should be on the look out for fake currency trying to be passed.

WSJ: Hot Dog Sales Trending Up

Hot dog sales are trending up with more and more people buying hot dog carts as a new business venture, according to this story in the Wall Street Journal:
http://online.wsj.com/article/SB123923554488403239.html#mod=todays_us_nonsub_page_one

Petro Arsonist Loses Appeal

In an Appeals Court Decision yesterday, Chance M. Schubla, the young man convicted of setting fire to a downtown Linton business, lost his appeal.

Read more here: http://www.in.gov/judiciary/opinions/pdf/04080901ehf.pdf

HAVE OLD PHOTOS?

Do you have old photos? If you have old photos of Linton, Indiana, such as the downtown, local businesses, or coal mines of yesteryear, e-mail them to the address shown to the right. We'll post them as a new 'Photo of the Week'.

The No-Name Circus

The no-name circus is coming to town again. They won’t disclose the name of their company on their posters, but they litter downtown Linton with their flyers. It’s a complete repeat of last year: http://magiccoalcity.blogspot.com/2008/04/circus-how-not-to-advertise.html Any info you may have on who the company may be can be e-mailed to the address shown in the right-hand column.

BANK ROBBERY

A bank robbery is being reported in Farmersburg. Reportedly, the armed robber wore blue jeans and a gray hooded shirt with a black mask, and a silver car was the get-away vehicle. Any information should be forwarded to local authorities.

UPDATE:
Separate sources say it was the Farmersburg branch of Harris, NA. As you may recall, Harris has suffered two robberies recently just south of Farmersburg in Shelburn, Indiana.

UPDATE II - Additional Sources:
The TribStar provides little detail, but further confirms the bank was robbed:
http://www.tribstar.com/news/local_story_097123659.html

And WTHI TV is reporting some additional details here:
http://www.wthitv.com/dpp/news/news_wthi_farmersburg_bank_robbery_200904071316

Some Hope in the Region?

There’s some good news and hope for the area. About 60 employees, who were temporarily laid off in February, are reportedly being brought back at the CertainTeed plant in Vigo County. Here’s the TribStar story for more info: http://www.tribstar.com/news/local_story_093213413.html

Has the story changed for the better at Boral Brick now too? http://magiccoalcity.blogspot.com/2009/02/boral-brick-too-big.html Stay tuned.

I Look Like You!

It's Friday, so today's a good day for a diversion from the normal posts here. Here’s an interesting little website:

http://www.ilooklikeyou.com/

A few years ago, you could have completely gone without it.

Shortfalls & Blame

I was reminded while reading an opinion piece in the IndyStar that the freedom of speech comes with a huge responsibility, namely you must bear a lot of B.S. spewed by folks everywhere. Here’s a prime example:

http://www.indystar.com/article/20090329/OPINION08/903290320/1291/OPINION08

So, in reply, here’s my take:

The shortfalls in funding are due to the sports teams not paying up for their venue, while also apparently not providing enough perceived value that people want to attend the games. Attendance being down in not the fault of the building or the taxpayers. It’s the teams, the team owners, and the players, who bear the duty to get fans in those seats.

I also disagree with the piece on taxation:

What better way to capture revenue from spectators than an (increased) innkeeper’s tax? The same goes with food & beverage taxes. Maybe even a ticket ‘tax’ or fee is in order; however, the rest of the State does not need to generally bail out Indy. The State, as a whole, should not have to bear the burden. Indianapolis is the steward of these facilities for its own people, and it just needs to become a better one.

It’s as simple as that.

Job Opportunity with State for Youth

I thought I’d share part of this press release from yesterday & some links with more info:

“Governor Mitch Daniels today announced the state will hire 2,000 young adults to spend this summer and next improving Indiana's parks, trails and natural habitats. The program, called the Young Hoosiers Conservation Corps, will use federal stimulus funds designated for employment and training of people 16 to 24 years old. The jobs will pay $8.50 per hour. According to federal requirements, the jobs will be for Hoosiers who are 24 years old or younger and whose family incomes are at or below the poverty level (approximately $23,000 for a family of four). The positions will begin no earlier than May 1 and end no later than September 30, 2009. “

According to this map http://www.in.gov/yhcc/2329.htm there will be projects available in Greene County.

The full press release can be found here:
http://www.state.in.us/portal/news_events/37486.htm

Mickey Mouse Goes ‘Cold and Calculated’

Accusation are being made that Walt Disney Company is laying off lots of workers, but in numbers that fall just under the threshold to report such layoffs.

Could Mickey Mouse be so ‘cold and calculating”? Some say, “Yes!”

Read more from Florida news WFTV here: http://www.wftv.com/news/19031584/detail.html

KFC Leaving Its ‘Mark’ on Roads

In a unique effort to gain goodwill and increase its public relations, the fast food chicken chain, KFC, is repairing potholes and stamping “Re-freshed by KFC," with a chalk-like stencil on the repair site.

Read more from Advertising Age here: http://adage.com/article?article_id=135534

Insert bad "Why did the chicken cross the road?" joke here...

UPDATE: Asking Price Going Down

UPDATE:

Back around the first part of February 2009, there was a post about Stoll’s Country Inn being for sale: http://magiccoalcity.blogspot.com/2009/02/stolls-county-inn-for-sale.html Well, the asking price has went from over $1 million then down to $800,000:
http://www.commercialiq.com/jsp/listings/listing_overview.jsp?listingID=1876411

It Happened...

It happened, and it was more quickly than I thought too. The Watering Can Flower Shop moved to their new location on the former Happy Greek property. Or, as the sign reads on their now former door, “across from the fire station”.

As you’ll recall, the purchase was announced in February here: http://magiccoalcity.blogspot.com/2009/02/former-happy-greek-property-sold.html

The actual former Happy Greek restaurant is for sale though. Apparently, that lot is being sold off as part of the larger parcel there. The listing is here: http://hunleygmac.com/listing.php?listing=336

FOR SALE: Linton's DQ

The Dairy Queen in Linton is apparently for sale. Here's the listing:
http://www.loopnet.com/property/16007607/State-Road-54/

Employer Beware: Info Theft

If you’re an employer, you may find this article about employee theft of company records & information a little disturbing:
http://www.symantec.com/about/news/release/article.jsp?prid=20090223_01

Anderson Mayor: Opps...

I’m glad to see that Anderson reconsidered the appropriations for their business incubator:
http://www.theheraldbulletin.com/local/local_story_083222421.html

With Anderson’s 11.1% unemployment, as of January 2009, the 10 small businesses in this center are much more meaningful.

The line that made me chuckle was “tenants taking advantage of inexpensive rent” as one reason to cut funding. And the sky is blue. Perhaps, the whole point was previously missed by those that should understand the concept.

The Death of Newspapers

This recent CNN article sums up the trend with regard to newspapers:
http://www.cnn.com/2009/US/03/19/newspaper.decline.layoff/index.html

But Will ‘Cheap’ Work in the USA?

After reading about this new, economical ride from India, I’m left wondering if something like this would really go over in the United States:
http://news.yahoo.com/s/afp/20090323/ts_afp/indiacompanyautotata_20090323144905

Arguably, with a re-design to meet American standards, it will cost more than the reported Indian version; however, will prestige get in the way of economy in the USA? And will a small automobile, such as the Nano, really be perceived as ‘safe’ here?

Funny How History Repeats Itself

Remember Drexel Burnham Lambert? How about Michael Milken?

DBL was the company driven to bankruptcy by illegal activities, and Michael Milken went to jail.

Well, guess who formed the financial products segment of AIG, the business segment that is reportedly the downfall of AIG today? Would you believe former Drexel Burnham Lambert employees?

http://www.portfolio.com/news-markets/top-5/2008/09/28/AIGs-Derivatives-Run-Amok?page=1#page=1

Terre Haute Loses, Evansville Wins

The music & movie distributor formerly known as BMG Columbia House announced it will be restructuring its operations by the end of the year. The result will be a layoff in its Terre Haute location of approximately 147 workers. More info can be found in an article at the TribStar:
http://www.tribstar.com/news/local_story_077135525.html

Meanwhile, 250 new jobs are expected at Berry Plastics in Evansville. For more info, here's the press release:
http://www.berryplastics.com/catalog/content/?url=corporate/news/news%20articles/site%20for%20major%20expansion%20has%20been%20selected

AIG: NY AG's Letter To Frank

You've read the headlines about AIG, now read the letter NY AG has sent to Barney Frank:
http://www.nypost.com/seven/03172009/news/aig_pdf.pdf

Recent Unemployment Rates for Area

Some recent unemployment stats for the immediate region, which is from the Indiana Department of Workforce Development.

What's Wrong With America Today

The horrific truth within this piece just cracks me up: http://www.thedailyshow.com/video/index.jhtml?videoId=220550&title=the-money-honey-bee I think The Daily Show just showed Americans what's wrong with America today: selling their brethren down the river for a buck.

350 New Jobs @ Bear Run Mine in Sullivan County

Peabody Energy (ticker: BTU) states in a recent release that “Bear Run will employ approximately 350 skilled workers and would annually contribute approximately $140 million in regional economic benefits”.

For more info, see link below:
http://phx.corporate-ir.net/phoenix.zhtml?c=129849&p=irol-newsArticle&ID=1266889&highlight=

Does CAT Have Nine Lives in Lafayette?

AP reported earlier today that CAT has announced layoffs in Lafayette, Indiana:
http://finance.yahoo.com/news/Caterpillar-laying-off-439-apf-14662994.html

Good News & Bad News (Perhaps)

The ‘good news’ first: your take-home pay probably increased recently. This is due to less withholding tax being taken out, as part of the federal stimulus.

The ‘bad news’ now: withholding tax is like small installments toward your end-of-the-year tax liability. So, if your tax rate doesn’t change, but your withholdings throughout the year go down, then you’ll either owe more at the end of the year (or get less of a refund back) all other things being equal. So, while this is ‘no free lunch’ as they say, if you’re getting a refund in 2008, you may consider just going along with this and not upping your withholdings back to the original amount, as some people are urging. After all, refunds are essentially 0% interest loans to Uncle Sam, so this withholdings change may actually be ‘good news’ for you if you receive big refunds.

See a post from September 2007 on ‘0% loans to Uncle Sam’ here: http://magiccoalcity.blogspot.com/2007/09/are-you-making-0-interest-loans-to.html

Amen!

All I have to say is, "Amen!":

http://biz.yahoo.com/ap/090316/obama_aig.html

Actually, I have one more to thing to say:

"Legally-binding" obligations is the same B.S. that Citi fed people. If a company is bankrupt, it's bankrupt. You can't get blood from a turnip. Tell the people with bonuses, they shouldn't work for a bankrupt company.

That's just how it is...

A Free Weekend from the Blog

I'm taking some time off blogging this weekend, including Friday, Saturday, & Sunday. So, check back Monday afternoon for the latest & greatest. Have a great weekend everyone!

Appeals Court: Greene County Courthouse Case

This came out just this morning, and I thought this might be of interest to some of you:
http://www.in.gov/judiciary/opinions/pdf/03120902.ewn.pdf

Imagine All The People

Imagine if a community would not only produce their own food, but actively encouraged other goods and services to be purchased locally:

http://www.newrules.org/agri/woodbury.html

Greenspan on the Bubble

Thoughts from Alan Greenspan on the housing bubble, the credit crisis, and more:
http://online.wsj.com/article/SB123672965066989281.html

To Laugh Or Cry...

I always enjoy Buffett’s views on things, and even he admits he messed up this past year in the market:
http://www.berkshirehathaway.com/letters/2008ltr.pdf

Meanwhile, over at Comedy Central, they make quite a mockery of CNBC: http://www.thedailyshow.com/video/index.jhtml?videoId=220252

It’s so true, I’m not sure if I should laugh or cry.

Headlines in the News

Some headlines in the news:

So the stimulus bickering continues: http://www.indystar.com/article/20090308/NEWS05/903080415/1003/BUSINESS

The Detroit feeding frenzy begins: http://www.freep.com/article/20090308/COL04/903080355/Detroit+s+new+absentee+landlords
The Indiana Chamber of Commerce attacks Second Amendment rights, listing it as one of their 'accomplishments' here: http://www.indianachamber.com/index.php/legislative-roi

And Americans, especially those from Vermont, have no religion: http://news.yahoo.com/s/ap/20090309/ap_on_re/rel_religious_america

Old Bank & Co

I tried out the Old Bank the other night, and it was great. I'm glad to see that the resturant is back open -- at least for the weekends. Good food, great service, and everything very timely.

Too Many Applicants, Too Few Jobs

A sign of the times:
http://news.yahoo.com/s/ap/20090307/ap_on_re_us/janitor_applications

Oregon Trail: The Return Visit

For all of you out there that grew up playing Oregon Trail in school, you're going to love me:
http://www.virtualapple.org/oregontraildisk.html

Crazy, Foolish Americans

The other day, The Irish Times reported that the United States will provide 730 million euros to the Palestinians toward rebuilding Gaza. That amount is equivalent to almost $1 billion.

Read the story here:
http://www.irishtimes.com/newspaper/breaking/2009/0225/breaking45.htm

Given the economy right now in our own country, it seems we could sure use that money here in our own backyard -- within the U.S.A.!

Detroit's New Opportunity

This article in the Chicago Tribune states the median price of a home sold in Detroit in December was $7,500 (no, that’s not a typo):

http://www.chicagotribune.com/news/nationworld/chi-detroit-housingjan29,0,6397784,print.story

I suppose when you think things are bad where you’re at, there’s always something worse out there. In any event, this could spell detroit's single-biggest opportunity to overall itself.

Stay tuned to see how they handle the lemons they've been handed...

200 Jobs @ $21 Per Hour

In Sullivan the other day, 600 people showed up for the 200 coal mining jobs available soon. Pay scale is to be $21 per hour, plus benefits, according to this article in the TribStar: http://www.tribstar.com/business/local_story_062233948.html

Beige Book Today

The new installment of the Beige Book was released earlier this afternoon. Here is the link to our district, the Chicago District: http://www.federalreserve.gov/fomc/beigebook/2009/20090304/7.htm

The Wealth Bucket

The community’s cumulative wealth is like the water in a bucket. If you put more in than you take out, the bucket eventually overflows. Overflow = wealth. If you take out more than you put in, the bucket is soon empty. Empty = poor. Of course, you have upward & downward trends to those extremes, depending on the amount put in and taken out.

Keeping with this bucket analogy, if a community continuously buys products and services from outside the community, you have a drain to this figurative wealth bucket. So, despite people bringing in money from outside the community through employment, business transactions, or government payments, if the drain is larger than the intake, the bucket’s level declines and eventually is empty.

That is a dire situation, which needs resolving, so the trend can change. Every time a new, out-of-area owned franchise or business comes into a community, it drains money out. Large retailers, such as Wal-Mart, drain money out. Internet retailers drain money out. People travelling & spending in other communities drains money out. Each drain money on different levels, while some outside ownership even inflows some investment dollars in the beginning.

(However, in most cases, they have preferred vendors, supplies, and contractors that supply the bulk of what is needed. For example, when Wal-Mart builds a new store, it doesn’t hire the locals to put it up, but has a crew come in that it's typically worked with before.)

This is not to say there needs to be a total stoppage of outflows. In fact, some outside spending is necessary. Taxes must be paid, which sends money outside the community. Certain services and products are unattainable in areas. And I’m sure there are other examples. That’s okay, though, because some of this can be done and have the bucket’s level still rising. It’s having too large or too many drains that assures poverty in the community.

Focus should be placed on the trend and where it’s taking us.

So, where is Greene County with its wealth bucket, and what’s the trend of the level in the bucket?

Annother Example of Mixed Up Priorities

I was watching the Black State of the Union the other night on TV. While several good points were made, one stuck with me that I’ll approximate here:

If GM can sell new cars with 0% financing, what about higher education?

The comment does underscore one of many misplaced priorities we have in the USA. We need more education if we plan to stay ahead of the world, a position among other countries that many may debate we've already fallen from.

A Heads Up

A ‘heads up’ for anyone holding or thinking of buying CertifiChecks through the Linton-Stockton Chamber of Commerce or other chambers, such as shown here at this link: http://www.lintonchamber.org/pages/chamber_checks

The Company (CertifiChecks) is filing bankruptcy, as noted in a TribStar article here: http://www.tribstar.com/news/local_story_061234506.html

Depression Era Cooking?

This 93-old lady is quickly becoming a cooking sensation with Depression era meals. Reportedly, she working on a DVD with the help of her grandson, dubbed 'Cooking with Clara'.

Has the economy really come to this?

http://www.youtube.com/watch?v=DuMkW35BwK8&eurl=http://buzz.yahoo.com/buzzlog/92321/?fp=1&feature=player_embedded

Paul Harvey Dies

I was sad to see that radio icon Paul Harvey died yesterday. A good piece in the New York Times can be found here: http://www.nytimes.com/2009/03/01/nyregion/01harvey.html?_r=1

Being a State Senator is a Good Gig

Maybe I should consider running for Indiana State Senator, if you can conduct pie-eating contests & get paid, especially while much more pressing issues are all around us...

http://www.indystar.com/article/20090122/NEWS05/90122057

Oh, How the 'Net is Changing Things!

If you’ve ever been part of a charitable group or start-up company, you’ll know one of the first items of business is a name, a mission statement, and a logo design. They can all burn up hours-upon-hours of time, which some may even call a waste. Yet, they’re important to differentiate, communicate, and position in the marketplace.

While I can’t help you today with name or mission, I can suggest a very useful website to help you with the logo: http://logotournament.com/

As the name suggests, it is a tournament in which you submit a little bit of information and freelancers will submit entries. Contests start out for as little as $250 for the winning design. And once you pay for the logo, it’s complete and totally yours to use. They even allow the prize money can be paid through credit card, bank account, or PayPal for ease of use.

What if you don’t get any submissions? If you don’t receive at least 30 submissions, they’ll refund your money, the site purports.

All I can think now is: why didn't I think of this?!

Wisdom of the 1800's

According to Wiki, this quote is attributed to Alexis-Charles-Henri Clérel de Tocqueville (July 29, 1805 – April 16, 1859), who was a French political thinker and historian:

"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."

Very interesting.

Mexico is Angry!

Mexican politicians are angry that Mexicans are coming back over the border into Mexico. They blame new laws in Arizona, which penalize employers of illegals, which is forcing Mexican citizens back to their own country. One representative is quoted as saying that they don't know what they're going to do with this influx of people.

I'm sorry, but this is just plain funny. Mexico sees no problem with the U.S. supporting illegals, but they complain when their own people come back to Mexico!

Read more here: http://www.tucsoncitizen.com/ss/family/74193

Household Dangers

This post is off-topic from the usual here, but there's quite a horrific story out of nearby Evansville, which you can read here:
http://www.courierpress.com/news/2009/feb/25/teenagerburnedtryingto-kill-lice/

Picking up the phone to report a gas leak in your house isn’t smart either. A small spark is created in many phones, which can ignite the gas in your home.

People who put bleach in their toilet to soak is probably a bad idea, too, given ammonia in urine causes a poisonous gas to be formed. You may want to watch mixing cleaners in general due to this and other chemical reactions possible. For example, Windex has ammonia in it.

One Dollar is Enough

She’s not the first to try something like this recently, but it’s a very interesting project nonetheless: http://lessisenough.wordpress.com/

If a person did this longer than 30 days, they’d probably come up with some pretty good recipes.

Cloning Man's Best Friend

It’s no secret that ethics and law have been playing catch-up with science, but now South Korean scientists are putting business in the mix by cloning man’s best friend for a fee.

I really don’t see the direction of this being pretty.

Read more here: http://www.foreignpolicy.com/story/cms.php?story_id=4724

Smithville Digital Will Connect WestGate

Smithville Digital has signed contracts to provide companies scheduled to locate in the WestGate @ Crane Technology Park with high-speed fiber optic broadband. Companies include EG&G, RAYDAR, Crane Federal Credit Union, TSC, SAIC, NAVMAR, and Novonics, according to the press release.

The full press release can be found here: http://www.smithvilledigital.net/press/02252009.html

The Greater Fool + We Want That Back

Amex is bribing bad customers to ‘just go away’ by giving them $300 if they pay off their cards by a certain deadline. Obviously, they’re just using money from another lender to pay these balances off, so I wonder who the greater fool will be? (Perhaps Citi?!)

(Maybe it's actually a good business model for other businesses too? Who knows!)

Read more here in the Washington Post: http://www.washingtonpost.com/wp-dyn/content/article/2009/02/23/AR2009022302673.html?wprss=rss_business

Oh, and also in that article, what do you think about MSFT wanting part of those payouts back?

Good luck with that.

Thought of the Day

Here's a thought for the day:

'You can tell how big a person is by what it takes to discourage him.' - Unknown

What Are We Going To Do With That?!

As a follow-up to a post from the other day, as seen here http://magiccoalcity.blogspot.com/2009/02/boral-brick-too-big.html , here's more support that Boral bricks built way too big of a facility:

WIN Energy certainly rolled out the red carpet for them, while the story denotes use of methane gas from a nearby landfill & shale from a local coal mine:
http://www.hoosiersites.biz/Boral_Brick_Case-Study.aspx

As did the Vigo County Council with a 10-year abatement:
www.vigocounty.org/egov/docs/1155233409_288146.doc

With incentives and breaks like this, surely they’ll keep the place open, yet I did find this article about another brick maker, which is not so optimistic about the plant there:
http://www.seguingazette.com/story.lasso?ewcd=63d77032c4c8f49c

If they do completely shut-down Boral in Vigo forever, what does the community do with a facility as humongous & single-purpose as that?

Very, Very Little Local Auction Action

The local auction scene has been barren for months and months. I’ve finally come to the conclusion that about the only time something comes up for sale, it’s due to someone’s death. So, maybe the auctioneers should start advertising on the obits page of the newspaper.

Check it out for yourself to see how little there is going on right now:

Jeff Boston Auctions:
http://www.bostoncentury.com/bostonauction/index.shtml

J. Yagle Auctions:
http://www.jyagleauctions.com/

Jimmie Dean Coffey Group:
http://www.coffeyauctions.com/

Johnny Swalls Auction:
http://www.jswalls.com/

Monty McKim Auctions:
http://www.auctionzip.com/IN-Auctioneers/1693.html

Wells Auction Company:
http://www.wellsauctioncompany.com/auctions

Auction by RJ:
http://www.auctionbyrj.com/new_style/?page_id=5

Schrader Auctions:
http://www.schraderauction.com/

How To Fund Our Police Force After Budget Cuts

While new tax legislation here in Indiana will affect us all at the local government level, I have found a way to retain our local police force. Here’s my idea, which will surely fund at least one full-time position with benefits:

Place one – only one – red light detention device, which will automatically ticket violators at the traffic light by Wendy’s in Linton (4th St NE, & SR54). I’m confident that this one device will fund at least one officer to stay on the force, while completely funded with this ‘user tax’ of sorts a/k/a the violator’s tax.

Legislation is being passed currently to finally allow local towns & cities to do this: http://www.chicagotribune.com/news/chi-ap-in-xgr-redlightcamer,0,3547233.story

I’m thinking there’s a good chance that outside funds would be brought in from out-of-towner violators too. Or, is it just the locals who blow throw this light?

For some entertainment, or if you don’t believe me, sit inside Wendy's atrium next time you're there, and afterward tell me this is not the single-most ran traffic light in town.

Duck & Cover, Kids!

This little video shown in schools circa 1950 kind of makes you wonder what stupid things we hold as true today, but will be painfully obvious 50 years from now? For example, similar to how we all know cigarettes are bad for your health now, but reportedly didn't know then, will we find current use of cell phones cause brain cancer later?

http://www.youtube.com/watch?v=ixy5FBLnh7o

158 Jobs To Be Available in Greene County

Passing this tidbit of info on to everyone, which I received recently:

"The 2010 Census is gearing up and there are 158 positions available in Greene County for census workers. There are several levels of employment, both full and part-time. Positions pay between $10-14 an hour. Contact Misty McIntosh, Recruiting Assistant, she will be at the Eastern Greene Library on Friday afternoons through the end of March. Check out www.2010censusjobs.gov to find out about the positions."

My $1,000 Challenge

I was thinking lately:

If a person read a book a week for the next year, it would be a total investment of roughly $1,000 -- say, $20 (or less) per book x’s 50 weeks (even taking a two week vacation during the year). And if that same person could derive one – only one -- good idea from each book, how could this NOT be the single-biggest return on a $1,000 investment? One idea alone could be life-changing, let alone 50!

Now, let’s make it even better, shall we? To add networking opportunities to the otherwise introverted activity of reading, why not pass on the best-of-the-best books that you find to other people, who you think could most benefit from reading them?

(Too aggressive? OK, one book a month, $240 investment, 12 great ideas!)

It’s something to consider. I can’t see how you could not have a phenomenal return on this…

Kimball Cuts Salaries, Slashes Dividend

Yesterday afternoon, Kimball International (KBALB) of Jasper, Indiana announced an across-the-board salary cut. Part of the announcement was as follows:

“Approved by the Committee was a reduction in compensation for Kimball CEO Jim Thyen, who will receive a 10% cut in annual base pay. The Company will also reduce base pay compensation for all Officers by 5%, as well as a 3% reduction for all other salaried personnel. It is estimated the pay reductions will total approximately $3 million in annual savings. The reductions will go into effect with pay periods beginning February 23, 2009 for Mr. Thyen and the Officers, and with pay periods beginning March 23, 2009 for all other personnel.”

In a separate press release, it announced the slashing of its dividend -- horrendously slashing. Here's an excerpt:

"This dividend represents a reduction of 11 cents per share, or approximately 70%, from the quarterly dividend rate paid in 2009’s first quarter. "

As Easy As 1, 2, 3...

OK, the obvious in this is going to hurt a little, but stay with me…

One, it’s no secret that foreclosure rates are increasing and real estate values are decreasing.

Two, we all know that property tax caps are fully-integrated in 2010.

Three, property taxes are determined by multiplying ‘tax value’ by ‘tax rate’.

With that said, my first question is: see where I’m going with this? If you multiply less by less, you get even less.

Next, the BIG question is: what, if anything, are Greene County officials doing now about this tax revenue cut of tsunami proportions?

Finally, the BIGGEST questions: what (or who) is going to be cut from the budget? Or, what alternative tax will be levied?

Stay tuned.

Bring Back the Mug Shots!

The Greene County Prosecutor’s Office has made its website more functional lately, and they’ve posted some lists. One is the Criminal Warrant list, which can be found here: http://www.co.greene.in.us/prosecutor/one1_files/page0031.htm The other is a dead-beat dad (and mom) list found here: http://www.co.greene.in.us/prosecutor/one1_files/page0030.htm It would be nice to see photos of the people, too, as they have had on the website in the past. Most of us do not know these people personally, but could possibly spot them at Wally World, the gas station, or otherwise around town.

Give Me Your Tired, Your Poor…

This op-ed piece really makes a person think:
http://www.nytimes.com/2009/02/11/opinion/11friedman.html?em

Where Will The Billions Go?

Just how is the government planning to spend the billions in stimulus recently passed?

Well, there’s a nice little run-down of things in this New York Times article:
http://www.nytimes.com/2009/02/13/your-money/13money.html?8mon&emc=yma1

Another good resource for more in-depth discussion of the stimulus:
http://taxpolicycenter.org/taxtopics/conference_stimulus.cfm

Linton-Stockton Schools Performance Figures

Some interesting school performance figures out for Linton-Stockton Schools:

http://dew4.doe.state.in.us/SCHLSTATS/APRPT/2008/f2950.pdf

THE ONLY Long-Term Solution

Mandatory financial education in the schools is the ONLY way out of this credit meltdown long-term. Sure, stimulus this and stimulus that may get us out of the doldrums for a while, but until people know what they’re doing, financially-speaking, we as Americans will be set on yet another collision course – perhaps even worse next time!

After all, Lord helps us all if we actually teach something so practical in school! With all due respect to those other courses, what is more practical than personal finance for a student? Writing checks, using a credit card, and taking out a home or car loan will probably be in 100% of all of the students' lives at some point in their life.

One teacher is teaching a course in personal finance and the article can be found here:
http://www.courier-journal.com/article/20090214/NEWS02/902140456/

I was glad to see this article. And yes, it’ll be a slow process, but financial education is the only long-term solution. So, we better get started now!