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					         T R I B U N E                              3 PROFILE

Business                                              Tina Schumacher

                                                            ON ...
                                               8-13 FOCUSand Finance

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  or by calling (269)                                                                            what’s
7777 for more                    ness through word-of-             Chamber of Commerce and         683-3720.                                                                                             new in
   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

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
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 —
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 —
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 —
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

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
             opened her
office in White Pigeon
nearly 10 years ago, locals
                                                                                  shown treating a
                                                                                  patient in her White
                                                                                  Pigeon office, says,
                                                                                  “Because there
                                                                                  aren’t many
                                                                                                        Olympics, as
                                                                                                        well as
                                                                                                        countless lo-
                                                                                                        cal races.
                                                                                                                        were actually putting
                                                                                                                        needles in, we had to fin-
                                                                                                                        ish all our training in
                                                                                                                           “This was due to the
                                                                                                                        fact that back in ’94 and
                                                                                                                                                          acupuncturists for treat-
                                                                                                                                                             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

                                                                                                                     Come on
   RIGHT: Amish
 country is a big

 tourism draw in
  Elkhart County.

   director of the
  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!
                                                                         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
   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
                         Call for a FREE quote.                                                                      Breakfast 7am - 10:30am
                                                                                                                                                     million of the $17 million
                                                                                                                      Lunch 11:30am - 2pm
                                                                                                                                                     being spent to advertise
                     Mike Pozzi (574) 235-6319                                                                       Dinner 5:30pm - 8:30pm
                                                                                                                                                     this year is going toward
                                                                                                                     Reservations recommended        national television ads,
                                                                                         Located at The Morris Inn      574.631.2020                 with the rest being used
                                                                                                                           for regional billboard and
58642522                                                                                                                                             radio advertisements.
  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.

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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
                           “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-
                                                                                                                                 “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     , 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.
  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
                                                                                                                                  Golf Course
                                                                                                                                                                                          Championship Golf Course
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
                                                                                                                                  on Pretty Lake
                                                                                                                                                                                        • Bar and Restaurant Open for
                                                                                                                                                                                          Monday Golfers
  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
                                                                                                                                         for only $20 (Excluding Holidays)                   Resident Memberships Starting at $127/month
boss because the store was But to address the prob-           correctly.                      workplace coach and the author                                                                                                  S225970
not sufficiently straightened lem, you must first deter-        Sadly, however, another       of “Secrets to Winning at Office       Price includes cart and green fee. Tee times required and booked at the Golf Shop’s discretion.
up when he closed the pre- mine the cause.There are           possibility is that Harry’s     Politics.” Send in questions       59491701     Please call the Pro Shop at 574-936-9008 for availability and for dress code.
   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,
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-                          
                         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                     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.

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                                                                                                           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
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.

     F OCUS O N B ANKING                                              AND         F INANCE                      By DANIEL WAGNER I ASSOCIATED PRESS WRITER                                   11

Some say mortgage program not working                                                                                                                              Online
   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-
                                                                                                                                                                   dress, but using different
                TBW Advertising Coordinator                                                                                                                        credit cards.
                                                                                                                                                                   ■ Make sure the customer’s
                                                                                                                             phone number is in an area
                                                                                                                                                                   code which corresponds to the
            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
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
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
                                   “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-
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
                                                                                                                      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
                                                                                                                                   by The
                                                                                                                                                            idea for an
                                                                                                                                                              article in     WEEKLY?
                                                                                                                                   South Bend           If so, contact Joni Gibley
 For classified advertising, call 235-6000                                                                                         Tribune.             Phone: 574.235.6302 E-mail:

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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-
                                                                                                                          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.


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
spending cuts. Of course,        tic changes to your                                                    2007 BMW 328i ..................................................... WAS $27,940 ................. NOW $26,380
there are many steps that        lifestyle.                        No matter how your                   #83984 Blue, 24,000 miles                                                                           3.9% x60**
apply to any consumer, in-                                       current cash crisis oc-                                                                                                                Or Free Maintenance
cluding skipping takeout or      Consider the equity in          curred, you’ll want to take
                                 your home                                                              2007 BMW 328i ..................................................... WAS $28,990 ................. NOW $26,760
restaurant meals, carpool-                                       steps to ensure it doesn’t             #8398 Red, 29,000 miles                                                                             3.9% x60**
ing and forgoing vacations          Tapping into your            happen again. Now’s a                                                                                                                  Or Free Maintenance
for the time being.              home’s equity can be a          good time to create a new
   In addition, many people      great source of cash, espe-     budget and research in-                2007 BMW 328i ..................................................... WAS $23,990 ................. NOW $21,880
who are in or approaching        cially if you have lived in     vestment options to see if             #8453 Black, 40,000 miles                                                                           3.9% x60**
                                                                                                                                                                                                        Or Free Maintenance
retirement will purchase a       your house for many years       you are on the best finan-
second home in a dream lo-       and do not have a large ex-     cial footing.                          2007 BMW X3 xDrive 30i ............................ WAS $30,990 ................. NOW $29,180
cation. It may be a good         isting mortgage. If you have                                           #8517 Gray, 30,000 miles                                                            3.9% x60**
idea to look into selling        gone into debt because of a     Consult your local                                                                                                                     Or Free Maintenance

that property or renting it      financial reversal, a home      CPA                                    2007 BMW X3 xDrive 30i ............................ WAS $30,990 ................. NOW $29,180
to generate cash.                equity loan will likely carry     If you’re unsure about               #8522 Bronze, 24,000 miles                                                          3.9% x60**
   Downsizing to a smaller       a lower interest rate than      how to proceed, remember                                                                                                               Or Free Maintenance

house also will cut down on      credit card balances, and       that your local certified              2007 BMW 530i ..................................................... WAS $29,990 ................. NOW $27,860
expenses and could require       the interest may be tax de-     public accountant (CPA)                #8528 Black, 51,000 miles                                                                           3.9% x60**
less time and money spent        ductible.                       can help.Turn to him or her                                                                                                            Or Free Maintenance
on maintenance than a larg-         Shop around to find a        with any financial question            2008 BMW 128i ..................................................... WAS $29,090 ................. NOW $28,540
er residence would. A down-      second mortgage or home         facing your family.                    #04637A Red, 21,000 miles                                                                          New Car Rates
sized residence may even be      equity line with the lowest       Need to find a CPA? The
better designed to deal with     interest rates and fees. But    Indiana CPA Society’s Find             2008 BMW 335i ..................................................... WAS $36,990 ................. NOW $34,188
physical and mobility chal-      be sure not to squander         a CPA application can help             #134416A Silver, 21,000 miles                                                                         4.9% x60**
                                                                                                                                                                                                        Or Free Maintenance
lenges a retiree might en-       your home equity unless         you find one in your area!
counter in the future.           you truly need it or plan to    Visit
   Finally, make sure you        use it for a worthwhile pur-
take advantage of the many       pose.Your CPA can help          Money Management is a
senior discounts available       you determine when using        weekly personal finance
on everything ranging from       home equity is right.           column prepared and
transit fares to movie tick-                                     distributed by certified public
ets.                             Branch out in a new             accountants. It is part of the
                                 direction                       360 Degrees of Financial
Adjust to your new           As the American popula-             Literacy effort focused on
situation                 tion gets older, more and              improving the financial
  Despite the bad news of more people in their 60s               understanding of Americans.            59488801                 Expires 8/31/2010

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