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T R I B U N E 3 PROFILE
Business Tina Schumacher
ON ...
8-13 FOCUSand Finance
Banking
weekly
Week of July 26, 2010
19 MY TAKE
Jack Strayer
Expo Arena, Berrien
County Youth Fair
Indiana’s source for business news and events Newsstand $1
M E E T I N G S C A L E N DA R 2010 South Bend Tribune Corp. Vol. 21 No. 30 2
SOUTH BEND information. mouth sales. The speaker
for the meeting will be Ed
host Honor Credit Union in-
vite you to attend their
C OMING U P
Michiana Business Business Networking In- Trevino of Kitchens, Chamber of Commerce Af-
Boosters invites you to a ternational Michiana will Baths & Beyond. ter Hours from 5:30 to
networking breakfast hold its weekly lunch To make a reservation, 7:30 p.m. on July 28 at
from 7:30 to 9 a.m. July meeting at noon July 29 call Dale Miller at (574) 1010 Moore Drive.
27 at LaSalle Grill. Patri- at Morris Park Country 292-5557. The cost is $5 for Cham-
cia Bailey of Hoffman In- Club, 2200 McKinley Ave. ber members and $15 for TBW
surance Group will be the BNI is looking for owners NILES nonmembers. RSVP by checks
featured speaker. Contact and salespeople interested e-mailing chamber@niles- out
Faiz Kohja at (574) 244- in increasing their busi- The Four Flags Area mi.com or by calling (269) what’s
7777 for more ness through word-of- Chamber of Commerce and 683-3720. new in
historic
New
Carlisle.
C O M PA N Y M I L E S T O N E S
C O N TA C T U S
ELKHART business and service as- Integra Real Estate of medical community at
pects of the organization Michiana will remain in the intersection of Indi- Tribune Business Weekly
Elkhart General Hospital and successfully passed an the same location at the ana 23 and Douglas South Bend Tribune
Home Care and Elkhart Gen- on-site visit by CHAP rep- corner of McKinley Avenue Road. 225 West Colfax Ave.
eral Hospital Home Medical resentatives. and Ironwood Drive in The new facility is cen- South Bend, IN 46626
Equipment have each re- South Bend. trally located between
ceived a three-year accredi- SOUTH BEND Memorial Hospital and Phone: (574) 235-6161 Fax: (574) 239-2646
tation from The National Michiana Gastroenterol- the new Saint Joseph
Community Health Accred- John Tiffany (broker ogy Inc. is now seeing pa- Regional Medical Center EDITORIAL STAFF
itation Program (CHAP). owner) and Timothy tients at the newly built in Mishawaka. It is Editor of Business Tribune Business
To receive the accredita- Robinson (owner) an- medical office building. It also within close Publications Weekly Coordinator
tion, both organizations nounce Exit Real Estate of is at 17501 Generations proximity to the
completed a comprehensive Michiana will now be Inte- Drive in South Bend in Michiana Endoscopy Ed Semmler — Joni Gibley —
internal evaluation of the gra Real Estate of Michiana. the Foundation Center Center. (574) 235-6466 (574) 235-6302
esemmler@sbtinfo.com jgibley@sbtinfo.com
Tax credit to help small businesses pay for health care ADVERTISING
TBW Ad Coordinator Subscriber Services
Newswise premiums under a “qualify- state. The employer pays $72,000 Kim Keigley — (574) 235-6468
ing arrangement” — i.e., in Employers with fewer in health care premiums for (574) 235-6286 (800) 220-7378
This spring, millions of an amount equal to a uni- than 25 full-time employees those employees and other-
small businesses began to form percentage (not less (more if you have part-time wise meets the requirements kkeigley@sbtinfo.com
receive postcards from the than 50 percent) of the pre- employees) and less than for the credit. To calculate
Internal Revenue Service mium cost of the coverage. $50,000 in average wages the credit, the employer Classified Advertising
about the new Small Busi- As a result, if an employer may be able to reduce their would multiply $72,000 by (574) 235-6000 (800) 248-7142
ness Health Care Tax pays only a portion of the tax obligation. The credit 35 percent for a credit of
Credit. premiums for the coverage phases out gradually for $25,200. PUBLISHER
Even if your business has- under the arrangement (with firms with average wages be- Keep in mind the amount
n’t received a postcard, you employees paying the rest), tween $25,000 and $50,000 of the credit cannot exceed David Ray — dray@sbtinfo.com
may still be eligible for this the amount of premiums and for those with the equiv- the total amount of income
credit designed to help small counted in calculating the alent of between 10 and 25 and Medicare (i.e., hospital VICE PRESIDENT & GENERAL MANAGER
businesses and nonprofit or- credit is only the portion full-time workers. insurance) taxes the busi- Steve Funk — sfunk@sbtinfo.com
ganizations that pay em- paid by the employer. For The credit is worth up to ness or organization is re-
ployee health insurance pre- example, if an employer 35 percent of health insur- quired to withhold from em- MANAGING EDITOR
miums in 2010, says Bill pays 80 percent of the pre- ance premiums paid by a ployees’ wages for the year
Terando, a professor of ac- miums for employees’ cover- business and up to 25 per- and its share of Medicare Tim Harmon — tharmon@sbtinfo.com
counting at Butler Universi- age (with employees paying cent of those paid by a non- tax on employees’ wages.
ty.The credit was part of the the other 20 percent), the 80 profit organization. On Jan. Eligible small businesses COPYRIGHT: Tribune Business Weekly is protected under the Federal
health care reform legisla- percent premium amount 1, 2014, the credit percent- can claim the credit as part Copyright Act. TRIBUNE BUSINESS WEEKLY is published 51 weeks a
year from offices at 225 W. Colfax Ave., South Bend, IN 46626. The
tion, the Patient Protection paid by the employer counts age increases to 50 percent of the general business cred- publication is available at all South Bend Tribune offices. POSTMASTER:
and Affordable Care Act. in calculating the credit. for businesses and up to 35 it starting with the 2010 in- Send address changes to TRIBUNE BUSINESS WEEKLY, 225 W. Colfax
The Congressional Budget To avoid businesses trying percent for nonprofit come-tax return they will file Ave., South Bend, IN 46626
Office estimates that the tax to get a larger credit by groups. in 2011.The credit is nonre-
credit will save small busi- choosing a more expensive For example, let’s say a fundable, but may be carried
nesses $40 billion by 2019. health plan, an employer’s qualified for-profit business back one year and carried C OV E R P H OTO BARBARA ALLISON
For employers to be eligi- eligible contribution is limit- employer has nine full-time forward 20 years if it is larg-
ble, they must pay their em- ed to the average cost of employees with average an- er than a company’s tax lia- Vacationers try to beat the July heat at Silver Beach in St.
ployees’ health insurance health insurance in that nual wages of $23,000 each. bility. Joseph.
P RO F I L E By GENE STOWE I TRIBUNE CORRESPONDENT 3
Prognosis
improving
Acupuncturist
finds public’s
fear of treatment
decreases as Tribune Photos I MARCUS MARTER
knowledge rises Tina Schumacher treats a patient at Muscle Therapy & Acupuncture Center in White Pigeon last week. Schumacher’s
patients come from as far as Gary, Chicago and Ohio as well as Michiana and across Indiana.
W hen Tina
Schumacher
opened her
acupuncturist
office in White Pigeon
nearly 10 years ago, locals
Schumacher,
shown treating a
patient in her White
Pigeon office, says,
“Because there
aren’t many
Olympics, as
well as
countless lo-
cal races.
“This
background
were actually putting
needles in, we had to fin-
ish all our training in
Wisconsin.
“This was due to the
fact that back in ’94 and
acupuncturists for treat-
ment.
Her Quit Smoking
acupuncture treatment
attracts people from out
of state who often stay
couldn’t see the point. acupuncturists led me to be ’95, no one in the state of overnight because the
What a difference a decade available, and what picked as a Illinois could put a needle procedure requires one
makes. we offer at our sports mas- into the body unless you evening treatment and
“People had no idea clinic is unique, we sage thera- were a physician. Laws one the following morn-
what conditions I could pull from a large pist volun- have changed. Now, na- ing.
treat,” Schumacher recalls. geographic area.” teer for two tionally certified acupunc- “It’s amazing how well
“Now, with all the infor- Olympic turists practice all over Illi- this works, if the person
mation available about second foray into a little- “Massage was misunder- Games — the 1988 Winter nois.There are hundreds really wants to quit
acupuncture research understood health field. stood to some degree. Peo- Olympics in Calgary, Cana- of graduates with thriving smoking,” Schumacher
that’s been made available She became a massage ple have a very clear idea da, and the 1996 Summer practices.” says. “Quit Smoking is
to the public, I feel it is therapist in 1985, graduat- of this field now, but doing Olympics in Atlanta, Geor- Schumacher graduated only one example of what
much better understood. ing from the Graham Mc- sports massage helped gia,” she says. from the four-year pro- can be targeted with
“Most any show from Clain School of Massage people understand my fo- By then, she was study- gram in 1997 and was cer- acupuncture.
‘Oprah’ to ‘Dr. Oz’ has Therapy in Marion, Ind. cus.” ing acupuncture through tified through the National “We treat pain, allergies,
done a great job of educat- “When I wanted to be- Schumacher became a The Midwest College of Certification Committee of and so many other inflam-
ing the public on the bene- come a massage therapist, certified sports massage Racine,Wis. Acupuncture & Oriental matory disorders. At our
fits of acupuncture.This there was not one single therapist with the Ameri- “They had an off-cam- Medicine. clinic, we also have mas-
makes my job much easier. school in Michigan to pick can Massage Therapy As- pus site in Chicago so I The medical profession sage therapists that offer
I can educate anyone, but from,” she says. “When I sociation and worked with was able to take my first has recognized the massage therapy, foot re-
if they don’t fear the tech- started my massage busi- athletes in NCAA track year there,” Schumacher acupuncture needle as a flexology, cranial sacral
nique it really helps.” ness, I was the only one in and field events, Judo, says. “By the time we got medical device, and doc- therapy and lymph
It was Schumacher’s the area. gymnastics and the into our second year and tors now refer patients to drainage technique.”
ON THE C OV E R By DARYL BJORAAS I TRIBUNE STAFF WRITER 4
Tribune File
Photo
Come on
PAUL
RAKESTRAW
RIGHT: Amish
country is a big
over
tourism draw in
Elkhart County.
FAR RIGHT: Rob
DeCleene,
executive
director of the
South
Bend/Mishawaka
Convention and
Visitors Bureau,
Area tourism
wants to get
more people
excited to live in
and visit the
campaigns invite
South Bend
area. a closer look
Launch A Direct-Mail Campaign
In Weeks - Not Months!
Postcards
I f you’ve taken a look or a listen around,
chances are you might have Michigan on
your mind.
That’s because the Great Lakes State is
spending more than $17 million this year to
Self-Mailers make sure you do.
Envelope Mailers “Pure Michigan” is the Michigan, said the cam-
name of the campaign paign is also helping to
Business-To-Consumer started in 2005, and its
goal from the beginning
change the state’s image.
“We have as much to of-
Or Business-To-Business has been to get people to
travel and spend money in
fer as any other state,” Zim-
mermann said.
recognize the state as one
of the best places to have a
Michigan. From beaches to lakes, summer vacation.
Our Turnkey Solution George Zimmermann,
vice president of Travel
and golf courses to muse-
ums, he wants people to
And he’s not the only
one.
Includes Strategy Development, The Michigan tourism
industry has grown to be
Mailing List, Design, Printing, A Notre Dame one of the state’s biggest
moneymakers, generating
Processing And Delivery. Dining Experience $15.1 billion last year, all
the while employing more
Open To The Public than 140,000 residents.
Zimmermann said $9
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ON THE C OV E R CONTINUED 5
Ninety-seven percent of over leadership of the CVB Elkhart County devotes a
the state’s tourism budget in May. “People like going lot of advertising to draw at-
was spent outside Michigan to them.” tention to its Amish Country.
this year, he said. For South Bend having Tourism pulls in $250
They’re doing advertising five colleges, the city doesn’t million a year, providing
in Wisconsin, Ohio, Indiana get nearly enough credit, he 5,000 jobs to members in
and even across the border in said. the community. Tribune File Photo
southern Ontario, Canada. He wants to diversify the Spending is limited to ABOVE: A Michigan vacation may feature cooling off in Lake Michigan at Silver Beach
South Bend was among visitor attractions, offering $200,000 a year, and with in St. Joseph.
three locations in Indiana more things to do in the the exception of last year’s
that Travel Michigan fo- city. planned $350,000 budget, Tribune Photo I MARCUS MARTER
cused on for advertising; the There are plenty of op- expenditures are declining, ABOVE FAR LEFT: Tourism in Michigan is one of the state’s biggest moneymakers. The
other two were Fort Wayne portunities for this area to said Diana Lawson, execu- state is advertising in southern Ontario, Canada; Wisconsin; Ohio and Indiana,
and Indianapolis. capitalize on, he said. tive director for the Elkhart including this billboard on Lafayette Boulevard in South Bend.
Travel Michigan has spent “It’s just a matter of fig- County Convention and Vis-
$30,780 in South Bend and uring which ones are worth itors Bureau.
a total of $144,222 in Indi- it,” DeCleene said. “The money just isn’t
ana this year. He’s taking feedback available,” Lawson said.
South Bend has just more from residents, business She said tourism is a
than $1 million to spend on owners and officials to see small part of the business
advertising annually. what can be done. With a done in Elkhart County, but
Some of that money goes few good ideas, he’s hoping she has aspirations for that
toward billboards along the he can get people excited to to increase.
Toll Road as well as full- live in and visit South Bend. The county has chan-
page ads in the Chicago Tri- Right now, visitor spend- neled most of its money on
bune. ing accounts for $330 mil- trying to get people to visit
Rob DeCleene, executive lion per year in St. Joseph Heritage Trail along with
director of the South County, DeCleene said. Quilt Gardens.
Bend/Mishawaka Conven- He hopes to increase that Lawson hopes that with
tion and Visitors Bureau number in the future. more resources in the area,
(CVB), wants the city’s im- “We want people to see it will mean more demand
age to have more of a this is as a great destination for people wanting to visit.
youthful appeal. with a pretty impressive list “Advertising is such an
“College towns are fun,” of things to do,” DeCleene important image for a com-
said DeCleene, who took said. munity,” Lawson said.
Spring
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E YE ON THE P IE By MORTON MARCUS I INDEPENDENT ECONOMIST 6
Governments should drop taxes, institute user fees
I s suburbia the root of all evil?
Roberta Righteous, the conscience of the
Indiana House of Representatives, was on the
phone.
“Phony,” said Myrtle my “The kind who really
for suburban kids whose
parents have chosen to live
far from a school in a place
without sidewalks. It makes
all taxpayers ante up for the
location preferences of par-
ents who don’t mind belly-
gested.
“No, that’s not fair,” I said.
“InDOT is just trying to cor-
rect problems created by
suburbanites.Why do Inter-
state 69 and Interstate 65
coming into Indianapolis be-
rary, solution. In fact, I
would encourage Indiana to
convert all limited access
highways to toll roads. If you
want premium service, you
should pay for it.”
“Isn’t that harsh?” Myrtle
muse. “You’re not on the cares,” she teased. ing up to the public trough.” come so congested? What asked.
phone and Roberta Right- “I was going to write “Are you serious?” Myrtle clogs I-65 going into “Listen,” I said. “Why
eous doesn’t exist.” about how much sense it said. Louisville or U.S. 41 headed should our hospitals offer
“That’s none of your busi- makes for governments to “Absolutely,” I insisted. to downtown Evansville? private rooms? If a person
ness,” I shouted, annoyed by charge user fees instead of “Parents move to remote lo- Why was the Borman Ex- needs a private room for
Morton Marcus her interference with my cre- raising taxes,” I said. cations, constructed on-the- pressway in Lake County health reasons, OK. But pri-
is an ative process. “Perfect,” Myrtle sighed. cheap without sidewalks, be- such a mess before it was vate hospitals decided to
independent “Whatever you write or “It will be your third column cause they know that in this widened? Suburban com- make premium service stan-
economist, think is my business,” Myrtle on that subject in the last state we’ll subsidize any- muters cause congestion. dard. They make more mon-
speaker, and purred trying to get on my year.” thing that increases the val- Not trucks, not tourists, not ey that way.We all pay for
writer formerly good side. “You have no cre- “It’s a recurring issue,” I ue of farmland. If the schools soccer moms. premium service through
with Indiana ative process, you have only said. “However, our Indiana will pick up the kids for free, “What’s the solution? higher insurance premiums
University’s me.” attorney general has de- then the parents are more in- Congestion fees,” I answered or taxes when it is needed
Kelley School of “I need to get this column clared that school districts terested in living outside the my own question. “Let those in only a few
Business. written,” I pleaded. “I’ve cannot charge for bus trans- town limits, and the farmer who use the roads at peak instances.
been sick and don’t have the portation. He thinks it’s un- gets more money for selling hours pay for the privilege. “Our politicians should
energy to fight with you this constitutional because some- his land to a developer. It’s technologically simple imitate the private health
week.” how, in his imagination, stu- “It’s all part of a vast sub- and ultimately fair.” sector if they want to raise
“Well, honey,” she said, dent transportation is neces- urban conspiracy,” I said. “Then you agree with the more revenue.They won’t do
“just use one of your old sary for education.” “Conspiracy?” Myrtle Central Indiana Transit Task it because they’re too timid
columns. No one would “To which you say?” she asked. “Is there a grassy Force that there should be to follow the implications of
know the difference.You only asked. knoll in this?” toll lanes on such roads,” their own rhetoric.”
have two or three themes “Once upon a time,” I “Look,” I said, “who caus- Myrtle asked. “OK,” Myrtle gathered
anyway.” replied, “school transporta- es the congestion on urban “No,” I said. “There herself together. “Looks like
“What kind of muse in- tion eased the journey of roads?” should be tolls on all lanes you got your column and
sults the object of her atten- farm kids going to school. “The Department of during peak hours.The toll without Roberta Righteous.
tions?” I asked. Today it’s a massive subsidy Transportation,” Myrtle sug- lane is an easy, but tempo- Now go get some rest.”
For advertising, call 235-6389
Recovering alcoholic faces problems at work Eric Marshall
Attorney • CPA
By MARIE G. MCINTYRE vious night. Before that, several possibilities. history of heavy drinking and get free coaching tips at Wills •Trusts
McClatchy-Tribune News she criticized him for mak- If Harry views his Good- may have caused some www.yourofficecoach.com, or Estates
Service ing mistakes with the floor will job as a backward step, subtle brain damage. If he follow her on Twitter Asset Protection
displays. There have also he may be tempted to slack is having unusual difficulty @officecoach.
234-9334
My husband, “Harry,” is been some questions about off a bit. However, that with tasks that should be
a recovering alcoholic. Af- inaccurate financial would be very short-sight- easy, a thorough medical
ter 27 years in retail man- records. ed. If he hopes to eventually exam may be in order. Plymouth Country Club
agement, he is now work- It hurts me to see my return to retail, Harry must Finally, the most discour-
ing as the assistant manag- husband being treated this demonstrate that he can be aging explanation for Har- MONDAY SPECIAL $20
er in a Goodwill store. Al- way, and I’m beginning to a conscientious and de- ry’s slipshod performance Tee Time Required • Spectacular 18 Hole
though Harry is a very hard worry that he might be pendable employee. For ex- is that he has started Please call the
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worker, he seems to be fired. ample, he needs to find out sneaking drinks at work. at 574-936-9008
• Clubhouse with Lakefront View
having problems with this Watching your formerly exactly what “straightening For both your sake and his, Located 3 miles west
job. successful spouse endure up” means, then create a I hope that is not the case. of Plymouth off S.R. 17
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Recently, Harry received this rather humiliating ex- checklist to ensure that all
a verbal warning from his perience has to be difficult. closing tasks are completed Marie G. McIntyre is a Play the Plymouth Country Club EVERY Monday Non-Resident Memberships Only $112/month
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59484001
F OCUS O N B ANKING AND F INANCE By JOYCE M. ROSENBERG I ASSOCIATED PRESS WRITER 8
Crash course in taxes for small business owners
NEW YORK — Estimat- their taxes withheld from count. Skim 30 percent or owners have to come up companies as S corpora- them to get a handle on how
ed taxes. Self-employmenttheir paychecks, most don’t 40 percent off the top of any with the full amount them- tions. In an S corporation, much estimated tax they
taxes.Tax accounts. need to worry about paying income, deposit it into that selves. So someone who paid the corporation does not pay need to pay each quarter.
These are words that the government. But busi- account and leave it there $7,500 in Social Security income tax, and the profits There is also software to
ness owners’ are expected to
quickly enter the vocabulary until it’s time to make a pay- and Medicare taxes as an are passed through to share- make it easier to make your
make quarterly tax pay-
of people who have been laid ment. employee would pay holders, similar to a partner- quarterly payments.
ments, known as estimated
off and are making the tran- The IRS has a form to file $15,000 if she earned the ship. During tax filing season,
payments.
sition to working for them- estimated payments, 1040- same amount of money as a An S corporation owner is people who do freelance or
selves. These small businessAccountants advise busi- ES, Estimated Tax for Indi- business owner. considered to be an employ- project work need to get
owners find they have to ness owners to set aside 30 viduals, that sole proprietors “A lot of individuals get ee of the company, and is 1099 forms from the com-
worry about tax matters percent to 40 percent of the can use. These owners will into trouble because they’re still responsible for his or panies or individuals they’ve
money they earn to cover
that weren’t their problem file a Schedule C, Profit or not aware of it,” Berdahl her share of Social Security worked for. They also need
their taxes. That can be a
when they worked for some- Loss From Business, when said. and Medicare taxes. The to be sure that the informa-
one else. hard adjustment for some they file their 1040 forms in Self-employment taxes company, like any employer, tion on the forms is correct.
owners. If they earn $3,000
Owners learn that they’re April. should be paid quarterly as pays its own share. Since the The income that owners re-
responsible for twice as on a project or from a sale of Owners who operate as a part of your estimated pay- owner is not considered to ceive must be reported on
much Social Security and goods, they really can’t con- corporation should use ments. At tax time, you need be self-employed, there are Schedule C or, if they’re op-
sider all of that money as
Medicare taxes as they paid Form 1120-W, Estimated to complete Schedule SE, no self-employment taxes. erating as an S corporation,
when they were employees.theirs. If 40 percent of that Tax for Corporations, to Self-Employment Tax, and Form 1120S.
amount, or $1,200, is allo-
And that they need to make compute their payments. attach it to your 1040 forms. Keeping good records The IRS receives copies
cated to taxes, the owner is
tax payments to the govern- They can pay their tax using As with estimated taxes, Owners need to keep of 1099 forms and matches
ment quarterly. left with $1,800. the Electronic Federal Tax owners who fall behind on track throughout the year of them with what owners re-
“Welcome to the self-em- Berdahl said many own- Payment System, or they their self-employment taxes how much they’ve earned port. So owners should at-
ers find it hard to save mon-
ployed world,” said Jeffrey can use Form 8109, Federal may have to pay interest. and what they’ve sent to the tach to their returns a list
ey for taxes. “People who
Berdahl, a certified public Tax Deposit Coupon.The in- Some small business own- government. Recordkeeping of the 1099s they’ve
accountant with RLB Ac- aren’t budgeting to put the structions for Form 1120-W ers decide to set up their software makes it easy for received.
30 to 40 percent away are
countants in Allentown, Pa. explain the options. Tax
“When you were an employ-using it for operations,” he forms can be downloaded
said. “Come April, they don’t
ee, everything was paid for.” from the IRS website,
have anything and they have
The best thing a new own- www.irs.gov.
to knock on the bank’s door
er can do is meet with an ac-
to pay their taxes.”
countant and get a quick les- Self-employment
son about small business Moreover, the government taxes
taxes. can charge interest when es- Many workers don’t real-
timated payments are late.
Here is an introduction to ize that while they have So-
taxes for the brand-new en- It’s easy to spend tax cial Security and Medicare
trepreneur: money when it’s just de- taxes deducted from their
posited in a business check- paychecks, their employers
Estimated taxes ing account. One solution is are paying an equal amount
Because employees have to create a separate tax ac- to the government. Business
Stress, inflexibility may drive workers away
By DIANE STAFFORD untarily exceeded the num- organizations placed extra-
McClatchy Newspapers ber who were let go by em- ordinary stress on remaining
ployers in firings or down- employees, with conse-
Reports say that lack of sizings. quences on emotional, and
workplace flexibility — the Surveys taken at the end sometimes physical, health.
ability to juggle work hours of last year found that up to Employers are beginning
to take care of home-based two-thirds of workers in- to construct “results-orient-
needs — may now be the tended to hunt for a job ed” work environments that
top reason that workers look when the economy im- set clear job expectations
for new jobs. proved. New employment and focus on getting the job
This is crucial informa- numbers indicate that time done — whenever, however,
tion for employers who is near, if not here. wherever.
want to hold on to good For two years, as the re- That’s not possible in
employees. cession ground on, most job every job, but it’s a tool that
Earlier this year, for the hunters, if they found work, goes a long way toward re-
first time since October took jobs beneath their skill taining workers who have
2008, the number of work- and pay levels. options to leave inflexible
ers who quit their jobs vol- Meanwhile, the downsized environments. 59468901
F OCUS O N B ANKING AND F INANCE By GENE STOWE I TRIBUNE CORRESPONDENT 9
Bank conversion complete for area branches
A transition from Na- and create a powerful de- branches in western Penn-
tional City to PNC Bank posit base with significant sylvania, eastern Ohio and
in Indiana was completed opportunities to generate Florida in 2009. Earlier
last month, with new revenue growth and create this year, it completed con-
signs going up at the value for our customers, versions in Kentucky,
bank’s 19 branches and employees, shareholders southeastern Indiana, Ohio
22 ATMs in the South and communities,” said and Michigan. More than
Bend market. James Rohr, PNC’s chair- 40,000 employees com-
The work was the last of man and pleted 2.5
four stages in the process chief execu- million train-
of converting more than 6 tive officer. L E A R N M O R E ing hours for
million customers and PNC ac- the transi-
1,300 branches from Na- quired Na- Find PNC online at tion.
tional City to PNC. The fi- tional City www.pnc.com. PNC sent 8
nal group included Illinois, at the end million pieces
Wisconsin and Missouri as of 2008, its of mail — on
well as Indiana. eighth acquisition in five recycled paper — to keep
The conversion, the years. The Pittsburgh- customers informed of the
fifth-largest in U.S. bank- based bank formed from changes. It used energy-ef-
ing history, was completed the merger in 1982 of ficient light fixtures in
in seven months, six Pittsburgh National Cor- many of the 21,000 new Tribune Photo I GENE KAISER
months ahead of schedule. poration and Provident PNC signs and recycled
“This is a historic ac- National, both with roots more than 200 tons of Last month’s sign changes, including this one at the branch on Lafayette Boulevard in South
complishment as we dou- in the mid-1800s. metal scrapped during the Bend, marked the last of four stages as PNC converted more than 6 million customers and
ble the size of our franchise The bank converted transition. 1,300 branches from National City Bank. PNC acquired National City at the end of 2008.
A Family Business
Since 1962
Call Toll Free
1-877-510-9785
Strong. Stable. Local. Personal.
At 1st Source, we are a community bank that specializes
in helping businesses with all their financial needs. Our
• Buying all Gold Coins & Silver Coins
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2516 Lincolnway West
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Open Mon. - Sat. 2010
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574-288-7464
100 North Michigan Street, South Bend 574 235-2000
Checking – Savings – Loans – Mortgages – Investments – Business
59454801 59464801
F OCUS O N B ANKING AND F INANCE By GENE STOWE I TRIBUNE CORRESPONDENT 10
Prolific Payment Solutions establishes relationships
Recent Bethel College Pope’s territory reaches ting people know who I am,
graduate Lakeisha Pope is from Indianapolis to Michi- what things I can offer them,
starting her sales career as a gan and Michiana to Chica- and how I can help them
representative for Texas- go. save in certain areas. It’s a
based Prolific Payment So- The company also offers door-to-door process.
lutions, which offers finan- human resources services, “I’m try-
cial and human resources online services and products ing to get a
services for businesses. such as terminals, pin pads feel for LEARN MORE
“We do the financial ser- and check readers. Cus- what people
vices as far as credit card tomers who use services, need ... Contact Prolific
processing, the applica- usually starting with credit what areas
tions for bank loans,” says card processing, can apply they need to Payment Solutions
Pope, who majored in or- for business loans, Pope save in. I at (574) 214-7960;
ganizational management. says. want to es- or visit
“We do gift cards. We do “We want them to use our tablish a re- www.prolificpayment
mostly everything the bank services,” she says, adding lationship solutions.com.
does as far as financial ser- that she has joined networks with my
vices.” and called on hundreds of customers.
Prolific, with offices in businesses in recent months I’ll be there if they ever need
Texas, Florida and Califor- to establish relationships me.
nia and representatives and introduce the opportu- “What we want to do is
across the country, and its nities. try to help them save. A lot Tribune Photo I GENE KAISER
affiliates process some $500 “I’ve been going from of people are dealing with
billion in credit card and business to business,” Pope the recession in numerous Lakeisha Pope works from her home in Elkhart for a Texas-based company, Prolific
debit card bills a year. says. “It’s getting out and let- ways.” Financial Services.
59415301
F OCUS O N B ANKING AND F INANCE By DANIEL WAGNER I ASSOCIATED PRESS WRITER 11
Some say mortgage program not working Online
businesses
WASHINGTON — Gov- ignored earlier demands Recent data suggest it has “We have a crisis, and the paid, according to the inde-
ernment watchdogs told a
Senate panel last week that
that it set clearer goals for
the program.
helped about 400,000
households avoid foreclo-
consequences of not having
cooperation from (mort-
pendent Government Ac-
countability Office.
fight credit
the Obama administration’s
effort to help homeowners
avoid foreclosure isn’t
Elizabeth Warren, who
chairs a separate Congres-
sional Oversight Panel on
sure. About 530,000 have
fallen out of the program.
The bailout has provided
gage) servicers is … felt by
this entire economy,” War-
ren said. “We need a pro-
Treasury also has collect-
ed $25 billion in fees and in-
terest payments from com-
card fraud
working and that the Trea- the bailouts, said Treasury’s up to $50 billion for the gram with far more urgency panies that received money. SUNRISE, Fla. — With
sury Department has failed failure to act more quickly mortgage modification pro- and some real teeth in it.” President Barack Obama increasing concern over pri-
to fix the program. could be hurting the recov- grams. So far, about $248 Also appearing at the signed into law last week vacy of information online
Special inspector general ery. million in bailout money hearing is a leader of the the most sweeping rewrite consumers and businesses
for the financial bailouts More foreclosures could has been spent. Government Accountability of financial regulations alike are taking a closer look
Neil Barofsky said the pro- force down home prices and Barofsky said Treasury is Office. since the 1930s.The law in- at not only privacy, but safe-
gram has not “put an ap- further hurt the already-ail- giving mortgage companies Their three offices are cludes changes aimed at re- ty and security of online
preciable dent in foreclosure ing housing industry. too much leeway to decide designated to provide trans- assuring Republicans, who transactions.
filings,” during a Senate Fi- The homeownership pro- which homeowners will parency and oversight for worry the bailout fund To date, much of the focus
nance Committee hearing gram aims to reduce mort- qualify for a program to re- the bailout program that could become permanent. has been on consumers as the
on the $700 billion bank gage payments for millions duce the principal balance Congress passed in October The size of the fund is re- victims of credit card fraud.
bailout. He also said the of homeowners who can’t of their mortgages. 2008. duced to $475 billion from However, according to Sean
Treasury Department has afford their monthly bills. The program relies on co- Most of the financial $700 billion. Money that Wolf, CEO and founder of
operation from mortgage bailout programs have end- has been repaid must be National Merchant Bancard,
companies, Warren said. ed as the financial system used to repay the national a vast majority of online busi-
She said many of the mort- regained its footing. Trea- debt, rather than expanding nesses are affected by it. In
gage debt collectors make sury lent out a total of $385 other programs. And the fact, credit card fraud is one
more money when they billion from the $700 billion overhaul blocks Treasury of the most serious risks fac-
foreclose than they do fund. As of June 30, about from using the money to ing online businesses today.
VALUABLE BUSINESS CONNECTIONS when helping homeowners. $198 billion had been re- create new programs. Wolf says online merchants
can minimize the risk of cred-
Tribune Business Weekly offers you an excellent it card fraud by implementing
opportunity to discover the latest local business news these 10 best practices:
and developments in Michiana. We help companies ■ Require address verifica-
grow through our exclusive business-to-business tion.
audience; which includes all members of the St. Joseph ■ Ship items only to the
County Chamber of Commerce!
credit card billing address.
■ Do not accept orders for
Special Focus On products from credit cards
issued by non-U.S. banks.
HOSPITALS/CLINICS ■ Require customers to en-
ter their CVV2 number, lo-
cated on the back of the
& SURGERY CENTERS credit card.
■ Capture the IP address of
every customer (The IP ad-
Monday, August 9th, 2010 dress can indicate that a cus-
Space Reservation Deadline – FRIDAY, JULY 30th, 2010 tomer is placing an order
Copy Deadline – MONDAY, AUGUST 2nd, 2010 from a location other than
Camera Ready Deadline – THURSDAY, AUGUST 5th, 2010 the shipping address).
■ Require delivery tracking
1/4 Page and signature.
Size $485.00 ■ Phone the customer to
verify the order if necessary.
Available Includes 1 Color ■ Be wary of any customer
attempting to use multiple
(Actual ad size measures 4.888”x5”)
credit cards for any one
For More Retail Display Information Contact: transaction.
■ Watch for multiple orders
Kim Keigley at 574.235.6286 shipping to the same ad-
59469201
dress, but using different
TBW Advertising Coordinator credit cards.
■ Make sure the customer’s
www.Southbendtribune.com/tbw phone number is in an area
code which corresponds to the
59469001
To Subscribe call (574) 235-6468 credit card billing address.
F OCUS O N B ANKING AND F INANCE By GENE STOWE I TRIBUNE CORRESPONDENT 12
State’s largest credit union moves into St. Joseph
Lake Michigan LEARN MORE
Credit Union opened
a full-service branch Tribune Photo For more information, contact Lake Michigan Credit Union, 120
in downtown St. BARBARA State St., St. Joseph; call (800) 242-9790; or visit www.lmcu.org.
Joseph in May, the ALLISON
institution’s first
presence in Berrien Lake Michigan quarters, and ty-deposit boxes in it still.” scheduled to open this year
County — and a Credit Union Lake Michigan Lake Michigan Credit in Portage. With $2 billion
restoration of finan- moved into St. Credit Union, Union, started in 1933 and in assets and 161,000 mem-
cial services at the Joseph in May, which at first ex- based in Grand Rapids, has bers, it is the state’s largest
historical bank on the corner of pect to open a 31 branches with another credit union.
building on State Ship and State mortgage office in
Street. streets. town, decided to
The credit union install a full-ser-
moved into the vice branch and
dome-topped limestone one, workers even found facility to help individuals the only downtown ATM.
structure that opened in enough green marble to that had challenges — either “It was a pretty easy
1912 and became Peoples make needed renovations for physical or learning abili- transition for them,” Gian-
State Bank in 1932, re-
maining in that bank’s suc-
cessive incarnations to
Fifth Third until 11 years
the new user.
Since he bought the
building some 15 years ago,
it was occupied by Fox’s
ties,” Giannola says, refer-
ring to Fox’s Pizza, “and the
whole restaurant was geared
so they could help these
nola says. “We had saved a
lot of the marble and the
teller stations. We rebuilt
two teller stations for
BUYING
ago. Pizza for about five years young adults learn how to them.
Building owner Joe Gian-
nola said the building still
housed the old vaults and in
and St. Joseph Today for six
years.
“They were using it as a
sell pizza.”
St. Joseph Today moved
down State Street to smaller
“There’s two day vaults
and there’s one large vault,
which actually has the safe-
BUYING
Cash-hungry states eye online retail for tax revenue BUYING
By MIKE ZAPLER states are getting support million from such scrupu- some in New York, that post
San Jose Mercury News from tax-wary business lous souls. Amazon ads.
groups, which complain that The tax disparity stems Amazon sued but lost in
WASHINGTON — Web- online retailers such as from a 1992 U.S. Supreme lower court, and a ruling on
savvy shoppers can often Amazon and Overstock are Court decision that allowed appeal is expected soon.
save big buying online in- exploiting a legal loophole mail order and, later, Inter- Colorado, meanwhile,
stead of at the local mall. to undercut the competition net retailers to avoid charg- passed a law requiring out-
But a chunk of the savings on pricing. ing and collecting sales tax- of-state retailers that don’t
comes at the expense of state “It’s no longer a thing of es if they lacked a physical collect sales taxes to provide
and local governments, in us wanting to do it for bud- presence — namely, stores a list to the state of the
the form of sales taxes that getary purposes,” California or headquarters — in the names of customers who Rings
are never paid on many Web Assemblywoman Nancy state where the buyer lives. bought items and how much
purchases. Skinner, a Democrat, said at States have begun to fight they spent, so tax collectors Scrap Gold • Dental Gold
The losses add up for a recent budget hearing, re- back, devising creative ways could seek payment. That Broken Jewelry • Sterling Silver
cash-starved state and local ferring to her proposal to around the Supreme Court legislation also is being chal-
governments across the step up the state’s collection ruling to make Amazon and lenged in court, with oppo- Diamonds & Coins
country: California alone efforts. “It’s our own busi- other online retailers pay nents charging that it vio-
loses out on more than $1 nesses and largest employers up. In 2008, New York en- lates privacy rights.
billion per year. asking for it, because they’re acted a measure, dubbed Small online retailers ar-
Now states are starting to being put at a competitive the “Amazon law,” redefin- gue that collecting and pay-
get serious about collecting disadvantage.” ing what it means for a busi- ing sales taxes to states
that money. Options under Technically, shoppers are ness to have a “physical would be difficult or impos- 127 Douglas Rd., Mishawaka
consideration include rewrit- supposed to keep track of presence” in the state. Any sible to manage, given the 273-9790
ing the rules on which dot- their out-of-state purchases company that has an affili- thousands of tax jurisdic-
coms have to charge sales and pay sales taxes on them ate relationship with anoth- tions across the country,
tax — or even requiring on- come tax time (perhaps you er business in the state each with its own rates and
line retailers to send their noticed that line on the state would have to collect and rules for what items are tax-
customer lists to the govern- income tax form). But that remit the sales tax. Amazon able. Others counter that
ment. rarely happens — in 2009, has an affiliate program simple computer software
And in an ironic twist, California collected only $10 with Web sites, including can handle the task easily. 59457101
F OCUS O N B ANKING AND F INANCE NEWSWISE 13
Working students need to be tax savvy, too
In these difficult finan- certified public accountant, child earns more than $1,900, the child will have working kids is the “self-em- money earned that is not re-
cial times it is common for certified management ac- $5,700 (his/her standard to pay tax on the excess at ployment tax.” If a child is ported on a W-2 by an em-
college students to engage countant and licensed at- deduction), he/she will have the parent’s marginal tax engaged in some type of ployer. For instance, that
in some part-time work torney. a tax liability. rate. This provision was work that is considered self- summer lawn business or
while juggling regular se- There are a couple of Working youths should added to the Internal Rev- employment income and odd-job business is subject
mester coursework or, at a planning considerations that file a W-4 with their employ- enue Code to prevent par- earns more than $433, he or to self-employment tax; ba-
minimum, take that oblig- anyone with working kids ers exempting the youths ents from reducing their tax- she must pay a 15.3-percent by sitters, however, have
atory summer job. Any lev- should know that will help from tax withholding if their es by putting their stocks self-employment tax in ad- been held to be employees of
el of paid remuneration make reporting a little less projected earnings are less and CDs in their children’s dition to any federal income the parents for whom they
will trigger a potential tax taxing in the new year, Mar- than $5,700. There is little names. The “kiddie tax,” as tax required. Self-employ- are working and are not
liability for the student, mon said. need to waste time and mon- it is known, applies to chil- ment income includes any subject to the tax.
and in some cases involv- First, children younger ey filing a tax return when dren younger than 18, or
ing unearned income, the than 24 who are full-time the child ultimately will get under 24 who are full-time
parent may wind up pay- students at least some part a refund of all taxes with- students, and whose earned T R I B U N E
ing the tax, according to
Rick Marmon, an associate
professor of accounting in
the Rohrer College of Busi-
of five months during the
year are generally consid-
ered dependents of their par-
ents. Dependents are not en-
held during the year, Mar-
mon said.
Second, if a child has un-
earned income exceeding
income does not exceed half
of their support (excluding
scholarships).
Another issue involving
Do you
have an BUSINESS
ness at Rowan University,
Glassboro, N.J., who holds
advanced degrees in busi-
ness, law and tax and is a
titled to reduce their taxable
income by their personal ex-
emption ($3,650 for 2010),
which means that once a
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by The
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article in WEEKLY?
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R ECORDS 18
$105,605. Bend. Chapter 13. Assets: $223,167. Nisley, Genie, 502 Broad Ave., Nappa- Knox. Chapter 7. Assets: $87,351. Debts: Bontrager, Catrina, 65822 Barrens Drive,
BANKRUPTCIES Cooper, Gary, 3075 N. County Road 725 Debts: $158,624. nee. Chapter 7. Assets: $125,242. Debts: $87,685. Goshen. Chapter 7. Assets: $2,873. Debts:
Here is an explanation of terms used in West, LaPorte. Chapter 13. Assets: $2,025. Hughes, Cindy, aka Cindy Weber, 8604 $114,332. Stout, Janice, aka Janice Sheridan, 1108 $42,636.
bankruptcy fillings: Debts: $8,950. E. County Road 850 North, New Carlisle. Nowak, Jason and Rachelle, 1302 Joyce Hidden Lakes Drive, Apartment 1A, Bruner, Brenda, dba The Gathering
Chapter 7: Liquidation. A court appointed Crawford, Bill, 726 S. 29th St., South Chapter 7. Assets: $9,206. Debts: $38,213. Drive, South Bend. Chapter 7. Assets: Mishawaka. Chapter 7. Assets: $358,177. Place, 5678 W. Shilling Road, Mentone.
trustee liquidates the assets of an individ- Bend. Chapter 7. Assets: $5,160. Debts: Hunter, Patresa, 17511 Indiana 331, $87,859. Debts: $96,627. Debts: $517,197. Chapter 7. Assets: $358,350. Debts:
ual or firm and distributes them to creditors $137,375. Tippecanoe. Chapter 7. Assets: $18,300. Oliva, Doris, 332 W. Grove St., Mishawa- Sweeney, Penny, 11197 E. Circle Ave., $448,925.
on a prorated basis. Crawford, Loretta, 216 N. Woodland Debts: $72,191. ka. Chapter 7. Assets: $2,200. Debts: Walkerton. Chapter 7. Assets: $4,700. Cabanaw, Michelle, fka Michelle Leslie,
Chapter 13: For individuals with regular Ave., Michigan City. Chapter 13. Assets: Hurley, Robbie and Laine, 102 S. Bower $38,792. Debts: $63,455. fka Michelle Cabanaw-Leslie, 711 Mohawk
income. Often called the “wage-earner $86,155. Debts: $107,597. St., Knox. Chapter 13. Assets: $122,335. Ontiveros, Roberto and Luz, 421 Phillipa Sweet, Brian and Jill, 10312 6B Road, Drive, Nappanee. Chapter 7. Assets:
plan.” Debtor retains assets and agrees to Crawley, Dawn, 192 Village Drive, Apart- Debts: $132,502. St., South Bend. Chapter 7. Assets: Plymouth. Chapter 7. Assets: $367,590. $2,708. Debts: $24,636.
pay all or a portion of debts form future ment C, Mishawaka. Chapter 7. Assets: Husband, Ronald, 441 Chamberlain Dri- $61,000. Debts: $77,972. Debts: $375,307. Camp, Jason, 8425 Gladstone Ave.,
earnings over a three to five year period. $27,323. Debts: $77,361. ve, South Bend. Chapter 7. Assets: Osborne, Jason, 19028 County Road 20, Szalajko, Andrew, 57199 Ponderosa South Bend. Chapter 7. Assets: $49,038.
Chapter 11: Business reorganization. Davis, David and Judith, aka Judy Davis, $88,567. Debts: $91,562. Goshen. Chapter 7. Assets: $21,148. Court, South Bend. Chapter 7. Assets: Debts: $79,562.
Debtor retains possession of assets and at- 26215 Heatherfield Drive, Elkhart. Chapter Jenkins, Tamberlee, 60027 County Road Debts: $207,010. $11,607. Debts: $148,264. Carey, Chad and Angel, fka Angel Fac-
tempts to remain in business by proposing 7. Assets: $120,035. Debts: $132,635. 11, Elkhart. Chapter 7. Assets: $14,173. Painter, Terry and Debbie, 60501 Dog- Taylor, Linda, 623 Thurman Ave., Michi- ciani, 58194 Lyndzi Lane, Elkhart. Chapter
a plan of reorganization to pay all or a por- Deiber, Brandi, 818 Thomas St., Elkhart. Debts: $98,497. wood Road, Mishawaka. Chapter 7. Assets: gan City. Chapter 7. Assets: $2,008. Debts: 7. Assets: $198,271. Debts: $248,680.
tion of debts from future earnings. Chapter 7. Assets: $850. Debts: $16,355. Johnson, Cynthia, 212 Blackport Drive, $204,914. Debts: $207,024. $7,272. Cherry, Charles, 435 Woodies Lane,
Chapter 12: The family farm bankruptcy DeZenzo, Jamie, 51591 Pond St., South Goshen. Chapter 7. Assets: $91,207. Parker, Ronald, 1308 Evelyn Ave., Knox. Thomas, Sara, 305 Clark St., Plymouth. Apartment D, Bremen. Chapter 7. Assets:
proceeding. It is a hybrid between Chapter Bend. Chapter 13. Assets: $113,742. Debts: $142,910. Chapter 7. Assets: $174,480. Debts: Chapter 7. Assets: $78,650. Debts: $19,517. Debts: $49,108.
13 and Chapter 11. A trustee is appointed, Debts: $120,523. Johnson, Ricky and Kimberly, 3724 S. $211,344. $179,920. Chester, John and Gloria, 1616 Longley
but the debtors remain in possession of Dresser, Richard Jr. and Debra, 615 S. Hupp Road, LaPorte. Chapter 7. Assets: Pearce, Angela, 804 E. County Road 400 Thompson, David, 1736 N. Lofgren Ave., South Bend. Chapter 7. Assets:
debts from future earnings over a three to Byrkit Ave., Mishawaka. Chapter 7. Assets: $256,755. Debts: $204,887. North, LaPorte. Chapter 7. Assets: Road, Rolling Prairie. Chapter 13. Assets: $39,263. Debts: $26,840.
five year period. $72,163. Debts: $174,997. Johnson, Vicky and Leroy II, 50605 $12,545. Debts: $25,376. $436,248. Debts: $565,401. Comella, Carter and Mary, 3270 County
Drewno, Diane, 407 Lakeside St., La- Michigan Road, South Bend. Chapter 7. As- Porter, Jerry and Lisa, 6492 W. Olson Trent, Edna, 5224 S. Holiday St., North Road 210, Knox. Chapter 13. Assets:
Adams, Amelia, 514 N. Michigan St., Ar- Porte. Chapter 7. Assets: $190,503. Debts: sets: $93,459. Debts: $172,376. Road, Rochester. Chapter 7. Assets: Judson. Chapter 7. Assets: $17,033. Debts: $493,000. Debts: $672,018.
gos. Chapter 7. Assets: $4,058. Debts: $278,219. Kahn, Gregory, 800 Indiana 212, Lot G2, $109,691. Debts: $123,754. $79,486. Cox, Clifton and Nancy, 1021 S. Old US
$23,825. Duff, Jennifer, 904 N. County Road 900 Michigan City. Chapter 7. Assets: $2,500. Rajski, Dennis, dba Rajski Builders, Turner, John and Deann, 606 E. Wash- Highway 31, Rochester. Chapter 7. Assets:
Alonso, Robert and Elaine, 5845 N. East, Akron. Chapter 7. Assets: $10,350. Debts: $37,167. 56750 Pear Road, South Bend. Chapter 13. ington St., Knox. Chapter 7. Assets: $248,733. Debts: $250,026.
County Road 450 West, LaPorte. Chapter Debts: $94,560. Keehn, Bruce, 72775 Willow Trail, Walk- Assets: $81,488. Debts: $121,000. $129,775. Debts: $140,222. Crittendon, Rodney and Shannon, 33
7. Assets: $195,650. Debts: $187,564. Durso, Donna, 724 W. Center St., War- erton. Chapter 7. Assets: $820. Debts: Rhymer, Stacie, fka Stacie Gro- Turner, Samantha, aka Samantha Mills, EMS D18 A1 Lane, Syracuse. Chapter 7.
Baginski, Patricia, aka Patricia Baginski saw. Chapter 7. Assets: $16,040. Debts: $93,012. chowski, 305 W. Ostrander Court, 13830 US Hwy. 6, Plymouth. Chapter 7. Assets: $100,240. Debts: $231,937.
IV, aka Patricia Baginski II, aka J.P. Whick- $228,428. Kemper, Ruth, 2441 W. County Road Knox. Chapter 7. Assets: $57,060. Assets: $6,565. Debts: $18,471. Cuerdon, David and Lisa, 5419 E. Indi-
son, 25865 Coolidge Ave., Elkhart. Chapter Eagle Transportation, LLC, Mishawaka. 250 South, Lot 159, Warsaw. Chapter 7. Debts: $70,117. Vaughn, Linda, 12807 McKinley High- ana 4, Mill Creek. Chapter 7. Assets:
7. Assets: $47,207. Debts: $183,266. Chapter 7. Assets: $9,458. Debts: $93,065. Assets: $11,068. Debts: $11,807. Richards, Franklin and Laura, 24189 way, Mishawaka. Chapter 7. Assets: $19,050. Debts: $123,971.
Bailey, Phillip and Jill, fka Jill Lippner, Edwards, Shannon, fka Shannon Krumrie, William and Cheryl, 700 Lincoln Grove St., South Bend. Chapter 7. Assets: $41,580. Debts: $165,131. Cuma, Jeffery and Kathy, 605 Luke Dri-
1407 W. County Road 200 South, North Gaspelin, 4375 Balsam Fir Lane, 19H, St., Plymouth. Chapter 7. Assets: $280,140. Debts: $290,156. Voss, Andrea, 4248 Wimbleton Court, ve, Westville. Chapter 7. Assets: $203,545.
Judson. Chapter 7. Assets: $142,171. Elkhart. Chapter 7. Assets: $1,850. Debts: $126,098. Debts: $244,273. Risner, Rio and Brenda, 775 N. County Apartment G, South Bend. Chapter 7. As- Debts: $238,474.
Debts: $161,327. $102,656. Lange, Todd and Lori, 3830 Streamview Road 600 East, Knox. Chapter 7. Assets: sets: $3,610. Debts: $47,613. Davis, Jamie, 703 E. Culver Road, Knox.
Bedford, Fred and Andrea, 52213 Wood- Egri, Katherine, 5192 N. Bob White Dri- Court, Mishawaka. Chapter 7. Assets: $108,129. Debts: $140,126. Walton, Cullen Jr., 51688 Old Mill Road, Chapter 7. Assets: $2,170. Debts: $26,958.
land. Haven Drive, Granger. Chapter 7. As- ve, Warsaw. Chapter 7. Assets: $165,200. $202,870. Debts: $526,146. Robb, Peter and Virginia, 745 Liberty St., South Bend. Chapter 7. Assets: $132,350. Davis, Judy, 28897 Driftwood Drive,
sets: $347,540. Debts: $1,479,562. Debts: $218,706. Lerch, Thomas and Rayetta, 13202 S. South Bend. Chapter 7. Assets: $7,086. Debts: $212,277. Elkhart. Chapter 7. Assets: $84,463. Debts:
Bell, Roger and Rhonda, 803 Locke Evers, Jerry and Krystal, 20951 W. County Road 450 West, Hanna. Chapter 7. Debts: $71,839. Watkins, Lisa, fka Lisa Thompson, 8800 $102,231.
Court, Nappanee. Chapter 7. Assets: Eighth Road, Plymouth. Chapter 7. Assets: Assets: $222,035. Debts: $509,667. Robinson, Luke, 54152 Ash Road, Lot E. County Road 700 North, Walkerton. Davis, Katina, 920 Anchorage Road, Lot
$85,050. Debts: $104,058. $86,165. Debts: $108,175. Litchfield, Richard, 9347 E. County Road 65, Osceola. Chapter 7. Assets: $3,330. Chapter 7. Assets: $8,312. Debts: $40,584. 58, Warsaw. Chapter 7. Assets: $31,995.
Bishop, Bud, 4567 S. Wazniak Road, La- Flores, Kimberly, 6112 Peach Lane, 1000 North, Syracuse. Chapter 7. Assets: Debts: $29,526. Wettergren, Christopher, 56765 Green- Debts: $20,581.
Porte. Chapter 13. Assets: $145,850. Rochester. Chapter 7. Assets: $14,585. $321,640. Debts: $248,250. Roebke, John and Jerry, 1033 Bontrager lawn Ave., Osceola. Chapter 7. Assets: Diaz, Orlando, 616 Capitol Blvd., Elkhart.
Debts: $141,833. Debts: $67,440. Looney, James, 565 Brookside Manor, Ave., Apartment D, Elkhart. Chapter 7. As- $103,906. Debts: $164,593. Chapter 7. Assets: $1,450. Debts: $20,023.
Bishop, James III and Jessica, 219 Bak- Garcia, Roberto and Maria, 621 Jordan Goshen. Chapter 7. Assets: $2,770. Debts: sets: $3,350. Debts: $16,363. Whitaker, Thomas, 1808 Margaret Ave., Edwards, Kerwin, 231 Fairfield St., Michi-
er St., Mishawaka. Chapter 7. Assets: St., Elkhart. Chapter 7. Assets: $102,043. $50,199. Rogers, Edward and Linda, 2529 Pleas- Mishawaka. Chapter 7. Assets: $3,350. gan City. Chapter 7. Assets: $110,600.
$4,705. Debts: $54,524. Debts: $166,930. Lybarger, Jeremy and Krystal, 12602 W. ant Plain Ave., Elkhart. Chapter 7. Assets: Debts: $143,367. Debts: $119,391.
Brettin, Charlotte, 712 Nueva Gorda, Cul- Garcia, Santos and Sheila, 307 E. Ar- County Road 500 South, Mentone. Chapter $132,607. Debts: $181,335. Williams, Julie, 402 Benton St., Michigan Ekstrand, Charles and Maribeth, 12870
ver. Chapter 7. Assets: $53,820. Debts: lington St., North Judson. Chapter 7. As- 7. Assets: $121,142. Debts: $138,240. Russell, Brock and Casandra, fka Casan- City. Chapter 7. Assets: $81,100. Debts: Loop Court, Granger. Chapter 7. Assets:
$52,273. sets: $68,192. Debts: $91,092. Mack, Elbert Jr. and Ersa, 910 S. Carroll dra Haddix, 1685 W. County Road 250 $81,849. $165,958. Debts: $222,899.
Brodie, Gail, 114 S. Lake St., South Glant, Peggy, 54 EMS B38 Lane, Lees- Ave., #630, Michigan City. Chapter 13. As- South, North Judson. Chapter 7. Assets: Williams, Ras Sr., aka Darnell Williams, Elliott, Joshua, 14646 County Road 52,
Bend. Chapter 7. Assets: $36,002. Debts: burg. Chapter 7. Assets: $164,700. Debts: sets: $163,500. Debts: $138,900. $11,650. Debts: $60,000. and Ruth Williams, 1705 Morton Ave., Syracuse. Chapter 7. Assets: $78,803.
$91,366. $306,745. Malcolm, Scott and Megan, fka Megan Rutkowski, Judith, fka Judith Gest, 4101 Elkhart. Chapter 13. Assets: $118,492. Debts: $180,166.
Bronke, Jaime, aka Jaime Jaseph, 3500 Glover, Christina, 1201 County Road 15, Leeman, 657 W. Lincoln St., Nappanee. Glenellen Court, Apartment 1C, Mishawa- Debts: $155,737. Eppert, Buffy, fka Buffy Kelley, fka Buffy
Briarwood Drive, Elkhart. Chapter 7. As- Lot #108, Elkhart. Chapter 7. Assets: $250. Chapter 7. Assets: $67,809. Debts: ka. Chapter 7. Assets: $245,671. Debts: Williams, Thomas, 435 Westwood Road, Mast, 1306 Prairie Ave., Goshen. Chapter
sets: $29,370. Debts: $49,087. Debts: $27,210. $109,334. $216,546. Apartment 1, Goshen. Chapter 7. Assets: 13. Assets: $8,825. Debts: $32,562.
Brown, Kimberly, 50800 Portage Road, Goebel, John and Ella, 1247 Queen St., Mares, Evangelina, 410 W. High St., Santiago, Anthony, 5040 E. County Road $1,748. Debts: $41,846. Fennessee, Torrey and Tamia, 1519 N.
South Bend. Chapter 7. Assets: $56,525. South Bend. Chapter 7. Assets: $26,250. Elkhart. Chapter 7. Assets: $76,760. Debts: 200 South, and Jennifer Santiage, 903 E. Wilson, Barbara, 57659 County Road Sheridan St., South Bend. Chapter 7. As-
Debts: $150,783. Debts: $90,976. $114,005. John St., Knox. Chapter 7. Assets: 107, Elkhart. Chapter 7. Assets: $304,674. sets: $101,140. Debts: $198,325.
Brugh, Barbara, 152 E. Tasher, South Grogan, Carol, fka Carol Rosenberg, fka Marner, Sarah, 8 EMS T16A Lane, Lees- $147,840. Debts: $220,084. Debts: $528,605. Ford, Dawn, 1528 N. Bay Drive, Elkhart.
Bend. Chapter 7. Assets: $101,170. Debts: Carol Bentley, 57008 Greenlawn Ave., burg. Chapter 7. Assets: $1,100. Debts: Schirf, Jenna, 12080 Day Road, Wilson, Tyler, 110 B Holaway Court, Chapter 7. Assets: $233,370. Debts:
$141,311. Osceola. Chapter 7. Assets: $72,350. $22,330. Mishawaka. Chapter 7. Assets: $5,400. Goshen. Chapter 7. Assets: $11,066. $273,666.
Burger, Gregory Jr. and Sandra, 4660 E. Debts: $186,167. Martinez, Silvino Jr., 2016 S. Warren St., Debts: $20,656. Debts: $30,297. Freeze, Peggy, 29218 Kauffman St.,
County Road 250 North, Knox. Chapter 13. Haitsma, John, 22962 Chestnut Lane, South Bend. Chapter 7. Assets: $2,020. Schuh, Ricky and Tamara, 2736 18B Wolf Lake, Thomas and Joyce, 2017 Elkhart. Chapter 7. Assets: $52,210. Debts:
Assets: $182,910. Debts: $287,181. Goshen. Chapter 7. Assets: $180,578. Debts: $18,716. Road, Tippecanoe. Chapter 13. Assets: Raintree Drive, Apartment 4, Elkhart. Chap- $60,584.
Bush, Janika, 316 N. Porter St., Michigan Debts: $228,805. McCreary, Joy, 22919 Lake Shore Drive, $140,073. Debts: $166,477. ter 7. Assets: $98,100. Debts: $125,109. Fuller, Joseph and Alicia, 2528 W. Coun-
City. Chapter 7. Assets: $6,335. Debts: Hale, William, 508 Ottoson St., LaPorte. Elkhart. Chapter 7. Assets: $92,532. Debts: Shaw, Samuel and Anita, aka Anita Hink- Worbel, Michael, 19711 County Road 2, ty Road 200 North, Rochester. Chapter 7.
$29,767. Chapter 7. Assets: $31,358. Debts: $110,360. ley, 2702 Martin Manor Drive, Goshen. Bristol. Chapter 7. Assets: $134,318. Debts: Assets: $90,285. Debts: $120,474.
Byrns, Charles and Laura, 26363 Cot- $53,908. Mckeehan, Michael, fdba McKeehan Pal- Chapter 7. Assets: $124,700. Debts: $140,870. Harman, Heath, 7739 E. County Road
tage Ave., Elkhart. Chapter 7. Assets: Haro, Samuel and Olga, 2932 Tilden let, 426 S. Porter St., Michigan City. Chap- $156,385. Aguayo, Jesus and Maria, 115 W. North 200 North, Pierceton. Chapter 7. Assets:
$148,329. Debts: $236,025. Ave., Michigan City. Chapter 7. Assets: ter 7. Assets: $4,030. Debts: $80,939. Shrock, Eric, 18981 First St., New Paris. St., Bremen. Chapter 7. Assets: $1,000. $900. Debts: $32,988.
Caldera, Juan Jr. and Crystal, aka Crys- $89,580. Debts: $96,136. McMeans, Samuel and Shirley, 1601 E. Chapter 7. Assets: $27,748. Debts: $87,932. Debts: $20,693. Hess, Sandra, 1508 S. Eighth St., Apart-
tal O’Hara, 4915 Bloomfield Place, South Harper, Walter, 2719 W. Irvington Ave., Indiana 2, LaPorte. Chapter 7. Assets: Shrock, Shawn, 608 Morning Star Court, Anderson, Lois, 5041 Johnson St., Knox. ment B, Goshen. Chapter 7. Assets:
Bend. Chapter 7. Assets: $118,796. Debts: South Bend. Chapter 7. Assets: $82,160. $16,790. Debts: $16,192. Middlebury. Chapter 13. Assets: $124,510. Chapter 7. Assets: $3,600. Debts: $95,167. $37,531. Debts: $41,403.
$137,492. Debts: $260,931. Menzie, Shawn, 218 Stonewall Court, Debts: $170,113. Appleby, Lizbeth, 1059 Beechwood Dri- Higginbotham, John and Lynn, 320
Caldwell, Barry Jr. and Robin, 53514 Ju- Hawes, Frances, 1002 N. Main St., Apartment 1, Nappanee. Chapter 7. Assets: Silveus, Andrew Sr. and Jodi, fka Jodi ve, Nappanee. Chapter 7. Assets: $3,190. Southwood Drive, Michigan City. Chapter 7.
niper Road, South Bend. Chapter 7. Assets: Goshen. Chapter 7. Assets: $76,200. $7,125. Debts: $145,919. Leslie, 10219 Glenwood Ave., Osceola. Debts: $9,849. Assets: $123,050. Debts: $250,945.
$168,865. Debts: $305,699. Debts: $130,893. Miller, Rachel, aka Rachel Wible, 1134 Chapter 7. Assets: $121,126. Debts: Barnett, Sabrina, 217 E. Louis St., Osce- Hill, Raymond, 1042 E. Lantern Road,
Cavinder, Darla, 54590 Bethany Drive, Heflin, Michelle, aka Michelle Belzowski, W. Roseland. St., South Bend. Chapter 7. $161,478. ola. Chapter 7. Assets: $55,386. Debts: Warsaw. Chapter 7. Assets: $380. Debts:
Mishawaka. Chapter 7. Assets: $765. 202 4th St., LaPorte. Chapter 7. Assets: Assets: $913. Debts: $42,052. Soales, Kathy, fka Kathy Nagy, 5225 S. $125,951. $16,519.
Debts: $67,510. $101,970. Debts: $100,353. Mitchell, Patricia, 109 Linden Drive, La- Detroiter Lane, North Judson. Chapter 7. Baughman, Robert and Lois, 419 Wood- Hillebrand, Mark Sr., 404 Lampost St.,
Clemons, Debra, 415 Main St., North Hester, Randy and Kendra, 206 N. Indi- Porte. Chapter 7. Assets: $14,295. Debts: Assets: $1,591. Debts: $32,811. bine St., LaPorte. Chapter 7. Assets: Osceola. Chapter 13. Assets: $8,505.
Judson. Chapter 7. Assets: $45,125. Debts: ana 14, Akron. Chapter 7. Assets: $58,125. $38,564. Spagna, Jeffery, 8863 W. County Road $75,100. Debts: $128,323. Debts: $42,315.
$76,811. Debts: $70,502. Moore, Luella, 216 N. Gladstone Ave., 1850 South, LaCrosse. Chapter 13. Assets: Blosser, Barry, 26138 Heatherfield Drive, Hornbaker, Marty and Ginger, 815 N.
Clifton, Edgar, 163 Bank St., Elkhart. Howlett, Christine, fka Christine Catan- South Bend. Chapter 7. Assets: $26,225. $336,512. Debts: $219,402. Elkhart. Chapter 13. Assets: $2,470. Debts: Johnson St., Warsaw. Chapter 7. Assets:
Chapter 13. Assets: $66,585. Debts: zarite, 57284 Crumstown Highway, South Debts: $80,267. Stacy, Gary and Linda, 304 W. John St., $87,812. $15,495. Debts: $17,000.
M Y T AKE By JACK STRAYER I DIRECTOR OF DEVELOPMENT AND MARKETING, EXPO ARENA 19
Expo Arena will expand area’s economy year-round
A major obstacle for post-recovery
economic development in Michiana is
the lack of state and federal programs
previously relied upon for funding new
construction projects, infrastructure
cess.Whenever a major
horse show or other large
exhibition is held at the fair-
grounds in Berrien Springs
in the spring and summer,
hotels and motels along In-
diana 933 and Michigan
139 fill up quickly. Imagine
related retail, new boarding
stables and convention ser-
vices.
Within this complex is the
120,000-square-foot Stables
and Stalling area that will
accommodate more than
500 horses under one roof.
banquet hall, accommodat-
ing seating for 1,080 people
or 750 for sit-down ban-
quets and receptions.The
Hospitality Center will also
include a 1,200 seat cafete-
ria, a banquet-sized gourmet
kitchen, a catering kitchen,
improvements, and new job creation. There is what a year-round facility at The Stable’s removable the Expo Arena box office
the Berrien County Youth stalls will allow for trade and the Grand Foyer with
A native of simply no public funding available anymore. Fair grounds will do for the shows, car and truck shows, covered entrance.
Niles, Jack Michiana economy! and other non-animal exhi- As we continue to pursue
Strayer is the One solution is to replace Berrien Springs is taking up The extensive market bitions. avenues to reach our finan-
director of government funds with local the challenge with the devel- study the BCYF undertook Measuring 240 feet by cial goal of $20 million, we
development dollars provided by opment of its Expo Arena. found that the completed 400 feet, the Main Arena are looking to the future
and marketing corporations, The Expo Arena at the project will generate annual- will include comfortable sta- when the Expo Arena is
for the Expo philanthropists and their Berrien County Youth Fair ly more than $32 million in dium seating for more than completed in the spring of
Arena at the foundations, and generous will be a year-round, climate new revenue within a 25- 1,866 spectators along with 2012. Residents of Michiana
Berrien County individuals. The challenge controlled complex that will mile radius of Berrien an additional 1,010 bleacher will find themselves in the
Youth Fair. before us is finding projects cover 6.1 acres under one Springs including South seats. Utilizing floor space midst of an economic expan-
that address the needs of roof and will cost $17 mil- Bend/Mishawaka and for concerts and assemblies, sion that will go far beyond
the region that will benefit lion to $20 million. northern Indiana and most the Main Arena will seat a the grounds of the Berrien
the most people for the As the home of one of the of southwestern Michigan. total of 7,000 people. County Youth Fair. And this
biggest gains for the least nation’s largest youth fairs, The Expo Arena will create The third element of the economic expansion will
amount of private money. the nonprofit Berrien Coun- 500 jobs in the area through complex is the Hospitality have been realized without
The Berrien County Youth ty Youth Fair Association development of hotels, Center featuring an all-pur- reliance on government
Fair Association (BCYF) of knows how to handle suc- restaurants, equestrian- pose 14,000-square-foot funds, loans or subsidies.
E C O N O M I C A N A LY S I S By MICHAEL HICKS I BALL STATE UNIVERSITY ECONOMIST
Striving for integrity and accuracy in economic forecasts
F or those of us with the audacity to publish
economic forecasts, it has been a bad
couple of years. It may be best to begin
with a look in the mirror.
Economic Advisers, as fine a
group of economists as you’ll
find, did worse.They forecast
current unemployment rates
to be roughly 3.5 percentage
points lower than they are
we had. I’ve already rewrit-
ten the models to incorpo-
rate a longer memory. I hope
to get it better next time, and
I am sure I am not alone.
But that begs the ques-
be 9.5 percent, when we
really mean it will be be-
tween 9.1 and 9.9 percent.
We can forecast things
like the annual labor force,
population, household in-
now. So what next? tion: Just what should econ- come for broad regions with
In December 2008, I fore- I am pleased to say my A New York Times colum- omists be expected to know great certainty.The smaller
cast the U.S. and Indiana timing of the turnaround nist recently wrote about the and how should we explain the region and the longer
Michael Hicks economy shrinking through- and the relative decline in issue of economic forecasts, it? I think that there is one the time horizon, the less
is director of out the coming year, with job each sector appears to have arguing that economists easy principle: honesty.We certain are forecasts.This is
the Center for losses and declines in all sec- been nearly spot on. Sadly, I would soon do away with ought to be honest about partly because data are less
Business and tors except health care. I also did a wretched job of esti- their models.That was pre- what we do and do not accurate and available for
Economic said that the economy would mating the depth of either cisely wrong. Instead we are know, and how prone to er- small places, but also be-
Research and hit bottom in the summer of jobs or income losses here in going back to the models, ror an estimate might be. cause small regions suffer
associate 2009, but that recovery — Indiana. My estimates on in- keeping the parts that work This last part is the most more random changes,
professor of especially in the labor mar- come declines were off by and remedying the errors. difficult to communicate.We which are devilishly hard to
economics in ket — would be slow. half, and job losses the same. My forecast contains could do like weather fore- model.
the Miller In December of 2009 I re- The timing is important, about 125 equations which casters and give probabili- Ironically, the things we
College of peated this exercise, predict- but the depth of the decline rely heavily on the experi- ties, but that doesn’t make wish to know with the most
Business at ing slow growth in everything is far more critical. It is small ence of recent history.This public budgeting any easier. certainty are often the things
Ball State but the labor force beginning comfort that I am not alone. recent history predicted a Perhaps we shouldn’t say we can forecast the least
University. last winter. So how’d I do? The President’s Council of more modest downturn than the unemployment rate will well. Just like the weather.
M O N E Y M A NAG E M E N T 20
What to do when you
need cash in retirement
Last year’s stock market any financial losses you and older are staying in the
declines took their toll on may have suffered, the work force. In fact, by
many Americans, but those good news is that your 2016, workers age 65 and
in retirement were among expenses may drop be- over are expected to ac-
the most affected. After sav- cause of your change in count for 6.1 percent of the
ing diligently, most people position. For example, total labor force, up from
probably believed they your tax position may 3.6 percent in 2006, ac-
could now safely enjoy their have altered if your in- cording to the U.S. Bureau
post-career years, but mar- come or assets have de- of Labor Statistics.
ket losses that ate into their clined, so consult with a If money is tight, it may
portfolios put an end to qualified adviser, such as be time to join the many
many of those assumptions. a CPA, to determine if Americans of traditional re-
If your nest egg took a you should be paying less tirement age who continue
hit, the Indiana CPA Soci- in taxes. to work full or part time.
ety offers some advice on If you have children in It’s a great way to supple-
the best ways to stretch college, find out whether ment your income and you
your dollar in retirement. your changed circum- might find a new interest or
stances qualify you for social circle through your
Cut back to greater financial aid or bet- new job.
necessities ter deals on student loans.
If you are experiencing By taking such steps, you Reconsider your
serious financial problems, may be able to cut fixed money management
it’s time to consider smart costs without making dras- choices
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