>>GERRY: EACH WEEK A GROUP OF INSIDERS JOINS ME TO OFFER PERSPECTIVE ON THE WEEK'S TOP STORIES.
THIS WEEK WE'RE SOUNDING OFF ON HOLIDAY SPENDING AND INDIANA'S CONTINUED ABILITY TO DRAW GLOBAL INVESTMENT AND BIG LAYOFFS
PLANNED AT CUMMINS. JOINING ME ARE BUSINESS FURNITURE CEO MARY BETH OAKES, BUTLER UNIVERSITY PROFESSOR OF
ECONOMICS BILL RIEBER IS BACK WITH MORE PERSPECTIVE, AND VOX GLOBAL MANAGING DIRECTOR MIKE MARKER.
WELCOME ONE AND ALL!! >> THANK YOU. >> HOLIDAY SHOPPING SEASON OFFICIALLY IT SEEMS LIKE IT
NEVER ENDS, BUT OFFICIALLY KICKS OFF I GUESS THIS WEEKEND. BILL AS THE ECONOMIST HERE YOU HAVE I THINK A PRETTY POSITIVE
OUTLOOK IN TERMS OF SPENDING THIS SEASON. >> IF YOU LOOK AT THE EMPLOYMENT IN INDIANAPOLIS MARION COUNTY
INDIANA IT'S VERY STRONG. YOU GO BACK TEN YEARS DURING THE GREAT RECESSION MARION COUNTY WAS A LITTLE OVER 11 PERCENT
UNEMPLOYMENT THREE AND A HALF PERCENT LAST YEAR THIS TIME AND UNDER 3 PERCENT NOW. WAGES ARE GROWING FASTER THAN
INFLATION AND EMPLOYMENT LEVELS ARE MUCH HIGHER. TO THAT EXTENT IT SHOULD BE A GOOD HOLIDAY SEASON.
>> MARYBETH WE WERE TALKING OFF CAMERA AND YOU JUST RETURNED FROM CHICAGO ON MICHIGAN AVENUE AND YOU SAID A LOT OF SHOPPING
BAGS. >> I WAS IN CHICAGO THIS PAST WEEKEND FOR THE FESTIVAL OF LIGHTS SO THE SIDEWALKS WERE
PACKED WITH SHOPPERS WITH SHOPPING BAGS AND THE MALLS WERE FULL. WHAT I THOUGHT WAS INTERESTING
THEY WERE NOT WAITING FOR BRAK -- BLACK FRIDAY FOR PROMOTION STARTED SO I SAW TONS OF SALES 40 PERCENT OFF AND 50 PERCENT
OFF SO IF THAT'S ANY INDICATOR OF RETAIL PERFORMANCE IT'S LOOKING VERY STRONG. >> YOUR GUT FIELD IT'S A MACRO
ECONOMIC INDICATORS PRETTY GOOD IN UNEMPLOYMENT OR EMPLOYMENT IS AT A GOOD LEVEL. WAGES ARE COMING UP SO
CONFIDENCE SHOULD BE AT A DECENT LEVEL. >> CONFIDENCE AT A DECENT LEVEL TO THE POINT ABOUT SPENDING
POWER IS THERE, SO FOR ME IT TO SPEND THOSE DOLLARS AND INE- TERMS OF SHOP LOCAL INITIATIVES CERTAINLY A BIG FAN AND HOW CAN
WE ALSO SUPPORT LOCAL COMPANIES BECAUSE IT'S SUCH AN IMPORTANT TIME OF YEAR FOR THEM AND ALSO THERE IS RESEARCH THAT SHOWS
BUYING EXPERIENTIAL GIFTS FOR PEOPLE HAS A POSITIVE IMPACT SO THINK ABOUT CULTURAL INSTITUTIONS, ORGANIZATIONS LIKE
THE ZOO AND MEMBERSHIPS TO SUPPORT THOSE FOLKS I WOULD LIKE TO SEE SOME OF THAT IN TERMS OF HOW HOOSIERS THINK ABOUT GIFT
GIVING. >> ARE BUSINESSES GETTING MORE ATTENTION IN AMERICAN EXPRESS US AS IT WAS SMALL BUSINESS
SATURDAY THIS WEEKEND AND A FOCUS ON THOSE SMALL BUSINESSES BECAUSE THERE IS SO MUCH ATTENTION ONLINE SHOPPING AND
OTHERS WITH AMAZON AND THE BIG RETAILERS. >> THERE'S A GIVE-AND-TAKE HERE FOR US AS WE THINK ABOUT THE
ECONOMY OF SHOP LOCAL INITIATIVE IS FANTASTIC AND SUPPORTING LOCAL COMPANIES BUT THEN WE ALSO HAVE A BIG FEDEX OPERATION AND A
VERY LARGE AMAZON FULFILLMENT CENTER SO IT'S NOT AN EITHER OR. BUYING ONLINE AND SEE FEDEX WORKERS GIVE THEM A HUG OVER THE
HOLIDAY. >> THERE WAS NEGATIVE NEWS A LOT OF POSITIVE NEWS WE'VE REPORTED ON ESPECIALLY WHEN IT COMES TO
MANUFACTURING, BUT THIS WEEK A SHOCKER COMMENTS COLUMBUS BASE COMMENTS ANNOUNCING PLANS TO LAY OFF 2000 WORKERS GLOBALLY EXEMPT
EMPLOYEES GLOBALLY AND NO WORD ON HOW MANY WILL BE HERE AS OPPOSED TO ANOTHER LOCATION. AS YOU LOOK AT THAT ANNOUNCEMENT
CUMMINS SAYING THEY HAVE A SLOW DOWN THAT WILL BE STEEPER THAN THEY THOUGHT. BUT TAKING SOME PRETTY BOLD
ACTION. >> CUMMINS IS AN EMPLOYER OF CHOICE IN INDIANA AND AROUND THE COUNTRY EVEN THE WORLD.
SO IT'S A MAJOR HIT WHEN THEY HAVE TO LAY OFF INDIVIDUALS ESPECIALLY AROUND HOLIDAY TIME. THE INTERNATIONAL ECONOMY IS
QUITE VOLATILE AND THIS IS TO BE EXPECTED. >> MARY BETH AS YOU LOOK AT THIS YOU WORK WITH SOME BIG ICONIC
BRANDS IN INDIANA, YOU'RE SENT SOME PEOPLE TALK ABOUT THE SLOW DOWN IN 2020, SOME PEOPLE SAY NOT SO MUCH AND ALL OVER THE
BOARD. ANY FEEL FOR THAT? >> THE ORGANIZATIONS WE'VE BEEN TALKING TO IT LOOKS STRONG
STILL. I WOULD SAY THERE WILL BE A LITTLE BIT OF A SLOW DOWN AND SOFTER THAN 2019 BUT WE GAUGE IT
BY OUR ORGANIZATIONS INVESTING IN THE WORKPLACE, ARE THEY HIRING, ARE THEY MAKING THOSE EXPENDITURES ON REALLY INVESTING
IN THEIR SPACES AND WE ARE SEEING DOUBLE THUMBS UP A VERY STRONG EVEN COMMONS, THEY HAVE PLANS --
>> THEY ARE NOT BACKING AWAY FROM THOSE EXPANSION PLANS WHICH ARE SUBSTANTIAL. >> NOT THAT WE'VE HEARD OF YET.
I THINK THE BUSINESS IS CYCLICAL OBVIOUSLY AND I'VE SEEN THIS HAPPEN A FEW TIMES IN THE HISTORY OF MY TIME IN WORKING
WITH THEM. I WAS SURPRISED BUT MAYBE NOT SO SURPRISED. >> AN OUTFIT MIGHT CUMMINS KNOWS
IT'S A GLOBAL ENTITY AS BUILT MENTION. SO TBD ON HOW MANY OF THESE JOBS WILL BE LOCAL, HOW MUCH WILL
IMPACT LOCALLY VERSUS AROUND THE GLOBE AT, SO MANY GEOPOLITICAL THINGS THAT TOUCH THEIR BUSINESS THAT EVENTUALLY WE WILL HEAR
MORE OF THE STORY, BUT FOR NOW I HOPE IT DOESN'T IMPACT US TOO MUCH LOCALLY. >> AND SHOULD MENTION NEWS THIS
WEEK THE STANLEY BLACK AND DECKER THE COMPANY ANNOUNCING LAYOFFS THAT WILL TAKE PLACE IN GREENFIELD ABOUT 140 WORKERS OR
SO WILL BE IMPACTED AT STANLEY BLACK & DECKER. THEY ARE IN HANCOCK COUNTY SO THE COUPLE OF ANNOUNCEMENTS IN
THE MANUFACTURING SECTOR THAT POINT TO PERHAPS UNCERTAIN NEXT YEAR. ON THE POSITIVE SIDE INDIANA
CONTINUES TO ATTRACT INTERNATIONAL INVESTMENTS, SOLINFTEC THE PRECISION A COMPANY BASED IN BRAZIL
ANNOUNCED EARLIER THIS YEAR OPENED HEADQUARTERS AT THE PURDUE RESEARCH PARK AND NOW THEY SAY, THEY WILL LOPE EIGHT
GLOBAL HEADQUARTERS MOVE IT TO INDIANA. A TESTAMENT TO PURDUE, THE STATE OF INDIANA AND A GRID NOVUS AN
ORGANIZATION BEHIND A LOT OF THIS AG AND BIOSCIENCE MOVEMENT. >> ALSO IF YOU LOOK AT THE LOCAL GOVERNMENT THEY ARE GREAT PLACES
TO DO BUSINESS. MAYOR DENNIS WE WORKED WITH HIM IN WEST LAFAYETTE AND I CONTINUE TO BE -- I REALLY LOOK AT THOSE
COMPANIES THEY'VE BEEN ADDING IN THOSE COMMUNITIES AND I THINK THERE'S A REASON FOR IT. IT'S A GREAT PLACE TO DO
BUSINESS AND THE TALENT THAT COMES FROM PERDUE, BEING A COLLEGE TOWN THERE'S A LOT OF POSITIVES BUT THEY DO CONTINUE
TO ATTRACT TOP-NOTCH ORGANIZATIONS AND A LOT OF GROWTH THERE RIGHT NOW WITH THE COMPANIES WE'VE BEEN WORKING
WITH. >> A GREAT SUCCESS STORY HERE AND WHAT I'VE HEARD FROM A GRID NOVUS IN THAT THIS COMPANY
SOLINFTEC WAS PLANNING TO PLACE THEIR HEADQUARTERS IN ILLINOIS AND IT WAS ALMOST DONE AND THE TEAM AND A GRID NOVUS HEARD OF
THIS FROM SOME INTRODUCTIONS THAT WERE MADE AND THEY SAID WAIT YOU SHOULD KNOW WHAT WE BRING TO THE PARTY AND YOU
SHOULD REALLY GIVE US A GOOD STRONG LOOK AND GOVERNOR HOLCOMB WAS ON THE PHONE. MITCH DANIELS WAS ON THE PHONE
AND THE SYNERGY WITH THIS CLUSTER WITH AGRINOVUS WHAT THEY'VE BUILT IN THE STATE IS A POWERHOUSE SO THAT HAPPENED A
YEAR AGO AND THEY SAID THEY WOULD BE HERE, SO THEY KNOW HOW TO GET PEOPLE HERE, BUT THEY KNOW HOW TO KEEP THEM HERE NOW
WE WILL DO THE GLOBAL HEADQUARTERS SO IT'S IMPRESSIVE. >> AND THAT STORY IS REPRESENTATIVE OF MOMENTUM GOING
ON AND COLLABORATION AROUND THE STATE OF INDIANA. ALSO INTERESTING WITH ONE MINUTE LEFT PLACES TO VISIT IN 2020
INDIANA MAKES THE LIST FROM ONLY 20 PLACES AROUND THE WORLD TO GO TO. INDIANA IS ONE OF THEM.
>> THE DUNES OF MICHIGAN, BUT THEY WENT ON TO TALK ABOUT HOW GREAT INDIANAPOLIS IS IN THE GREAT THINGS WE'RE DOING HERE SO
IT'S PART OF THE BRANDING STRATEGY FOR OUR STATE GETTING THE STORY OUT THERE ABOUT A GREAT STATE WE HAVE A CITIES AND
PEOPLE AND RESOURCES AND IT'S PAYING OFF. THEY GET THAT MESSAGE OUT THERE TO HELP US.
>> THIS KIND OF PUBLICITY, BEYOND THE NUMBERS DO YOU THINK IT'S -- >> IT'S A NICE LOCATION CLEAN
GOVERNMENT AND NICE TO BE HERE. >> THE NATIONAL PARK DESIGNATION IS A GAME CHANGER. GET PEOPLE HERE THAT HAVEN'T
THOUGHT ABOUT IT AS A DESTINATION WHEN WE GET HIM HERE BRING THEM TO OTHER PARTS OF THE STATE AS WELL.
>> THANKS ONE AND ALL. BILL RIEBER, MARY BETH OAKES,