INSIDE INDIANA BUSINESS: Retail expert predicts less merry holiday season

2013-10-02T12:25:00Z 2013-10-02T14:58:06Z INSIDE INDIANA BUSINESS: Retail expert predicts less merry holiday seasonGerry Dick Inside Indiana Business nwitimes.com
October 02, 2013 12:25 pm  • 

A retail expert expects holiday sales to lag behind last year. Purdue University Consumer Sciences and Retailing Professor Richard Feinberg says unemployment and the end of a Social Security tax cut are leaving consumers with less money to spend. He expects national retail sales to range from flat to 5 percent lower compared to last year. Feinberg says fewer available dollars will lead to increased competition among retailers, which will ultimately be good news for consumers. He believes there is one area that could experience an increase.

 

Indiana Feeling Effects of Shutdown

The partial shutdown of federal government functions continues and the effects within the state are becoming more clear. A spokeswoman for Governor Mike Pence confirms it is costing Indiana an additional $33,000 per day. The Kokomo Tribune reports approximately 600 employees at Grissom Air Reserve Base near Peru are on furlough, while the Naval Surface Warfare Center in Crane says the shutdown will have minimal impact.

 

Duke Energy to Release Site Recommendations

Duke Energy Indiana is set to detail economic development recommendations today and tomorrow for three industrial sites in the state. The properties in Clark, Jackson and Wabash counties are part of the utility's Site Readiness Program.

 

Angie's List Launches Fellowship Program

Indianapolis-based Angie's List Inc. is aiming to help launch the careers of more young business talent. The online consumer review company has started a fellowship program that includes five, one-year positions in three specific areas.

 

Restaurant And Lodging Association Names Hall of Famers

The Indiana Restaurant and Lodging Association has announced its 2013 Hall of Fame class and award winners. Honorees include the organization's retiring chief executive officer, several restaurateurs and a pastry chef.

 

Ivy Tech to Expand Accelerated Program

Ivy Tech Community College says a more than $2 million grant will boost its Associate Accelerated Program. The funding from Indianapolis-based Lumina Foundation for Education Inc. will help expand the program to all campuses.

 

White County to Expand Commerce Park

Terre Haute-based Garmong Development Co. LLC has entered into a public/private partnership with White County to finance and construct a shell building. The company says the facility in the Mid-America Commerce Park should be complete in about a year.

 

German American Bancorp Completes Merger

Jasper-based German American Bancorp Inc. says it has completed a merger with United Commerce Bank of Bloomington. The deal is estimated at more than $14 million.

 

Wheeler Mission to Expand

Wheeler Mission in Indianapolis plans to use a $1 million grant to expand services for homeless men. The funding from the Nina Mason Pulliam Charitable Trust will support a new, two-story facility, adjacent to the mission's current shelter.

 

TEDx Event Set For Rose-Hulman

Rose-Hulman Institute of Technology students have organized a TEDx event Saturday in Terre Haute. Featured speakers will focus on photography, fragrance making and "real world" mathematics.

 

Trine Names Logansport Leader

Trine University has chosen Lori Lange to lead its Logansport Education Center for the School of Professional Studies. She previously served as associate director of admissions at Ivy Tech Community College's Logansport campus.

 

Cook Group Names Government Relations VP

Bloomington-based Cook Group Inc. has named Gretchen Gutman vice president of public policy. She was most recently associate vice president for governmental relations at Ball State University and previously served as chief advisor to the Indiana Senate Finance Committee.

 

For more Inside Indiana Business, visit www.insideindianabusiness.com.

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