The Herald Bulletin

August 13, 2011

GERRY DICK: Aug. 14

For The Herald Bulletin

— Professor: Don’t sweat wild swings

INDIANAPOLIS — An assistant professor of finance at the University of Indianapolis said investors should focus more on the instability of the U.S. economy than the wild swings of the stock market. Matt Will is more concerned about indicators of an anemic economy and about the fact that a political response has done little more than generate uncertainty for business.

Expert: DC to blame for credit downgrade

INDIANAPOLIS — Robert Neal, a Kelley School of Business Indianapolis associate professor of finance,  said the decision by Standard & Poor’s to downgrade its U.S. credit rating and the resulting market sell-off is due to an unwillingness of lawmakers to own up to fundamental economic problems.

Could downgrade benefit housing?

INDIANAPOLIS — An Indiana mortgage manager said the housing market could actually see some short-term benefit from Standard & Poor’s decision to downgrade U.S. credit rating. Brandy Schroeder of Indianapolis-based Wintrust Mortgage said since there is uncertainty on what will happen with interest rates, some people might act sooner rather than later to buy or refinance a home.

Casinos report drop in revenue

INDIANAPOLIS — The tough economy continues to bring down revenues at Indiana casinos. The state gambling commission reports that revenues have hit their lowest level in three years. Indiana Gaming Insight Editor Ed Feigenbaum said July is typically a top month for casinos, but this year’s revenues are lower than in July 2010 and July 2009.

Housing project

to create 140 jobs

WABASH — Cicero-based Mainstreet Property Group plans to build a senior care campus in Wabash that will create 140 jobs. The company intends to invest more than $15 million in the project, which will serve a growing sector of the Wabash County economy.

Beck’s Hybrids purchases facility

ATLANTA, Ind. — Hamilton County-based Beck’s Hybrids has acquired the former Pfister Hybrids facility in El Paso, Ill. Beck’s said the location will provide the company with more warehouse space and testing facilities.

Handicap-accessible vehicles to be made

MISHAWAKA — Production on wheelchair-accessible vehicles has begun at the AM General LLC plant in Mishawaka. The Vehicle Production Group LLC said that at full capacity, the deal means 22,000 vehicles per year and more than 100 jobs.

Angel group makes another investment

INDIANAPOLIS — StepStone Angels said it has completed its investment in the Indianapolis-based med tech company FAST. This is the network’s fifth investment since it was formed in 2009 by StepStone Business Partners.

Gerry Dick’s Inside Indiana Business briefs appear Wednesdays, Fridays and Sundays in The Herald Bulletin. For more on these stories and more Indiana business news, visit Insideindianabusiness.com.