WEBVTT

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>>GERRY: EACH WEEK A GROUP OF
INSIDERS JOINS ME TO OFFER
PERSPECTIVE ON THE WEEK'S TOP
STORIES.

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THIS WEEK WE'RE SOUNDING OFF ON
HOLIDAY SPENDING AND INDIANA'S
CONTINUED ABILITY TO DRAW GLOBAL
INVESTMENT AND BIG LAYOFFS

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PLANNED AT CUMMINS.
JOINING ME ARE BUSINESS
FURNITURE CEO MARY BETH OAKES,
BUTLER UNIVERSITY PROFESSOR OF

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ECONOMICS BILL RIEBER IS BACK
WITH MORE PERSPECTIVE, AND VOX
GLOBAL MANAGING DIRECTOR MIKE
MARKER.

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WELCOME ONE AND ALL!!
>> THANK YOU.
>> HOLIDAY SHOPPING SEASON
OFFICIALLY IT SEEMS LIKE IT

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NEVER ENDS, BUT OFFICIALLY KICKS
OFF I GUESS THIS WEEKEND.
BILL AS THE ECONOMIST HERE YOU
HAVE I THINK A PRETTY POSITIVE

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OUTLOOK IN TERMS OF SPENDING
THIS SEASON.
>> IF YOU LOOK AT THE EMPLOYMENT
IN INDIANAPOLIS MARION COUNTY

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INDIANA IT'S VERY STRONG.
YOU GO BACK TEN YEARS DURING THE
GREAT RECESSION MARION COUNTY
WAS A LITTLE OVER 11 PERCENT

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UNEMPLOYMENT THREE AND A HALF
PERCENT LAST YEAR THIS TIME AND
UNDER 3 PERCENT NOW.
WAGES ARE GROWING FASTER THAN

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INFLATION AND EMPLOYMENT LEVELS
ARE MUCH HIGHER.
TO THAT EXTENT IT SHOULD BE A
GOOD HOLIDAY SEASON.

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>> MARYBETH WE WERE TALKING OFF
CAMERA AND YOU JUST RETURNED
FROM CHICAGO ON MICHIGAN AVENUE
AND YOU SAID A LOT OF SHOPPING

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BAGS.
>> I WAS IN CHICAGO THIS PAST
WEEKEND FOR THE FESTIVAL OF
LIGHTS SO THE SIDEWALKS WERE

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PACKED WITH SHOPPERS WITH
SHOPPING BAGS AND THE MALLS WERE
FULL.
WHAT I THOUGHT WAS INTERESTING

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THEY WERE NOT WAITING FOR BRAK
-- BLACK FRIDAY FOR PROMOTION
STARTED SO I SAW TONS OF SALES
40 PERCENT OFF AND 50 PERCENT

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OFF SO IF THAT'S ANY INDICATOR
OF RETAIL PERFORMANCE IT'S
LOOKING VERY STRONG.
>> YOUR GUT FIELD IT'S A MACRO

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ECONOMIC INDICATORS PRETTY GOOD
IN UNEMPLOYMENT OR EMPLOYMENT IS
AT A GOOD LEVEL.
WAGES ARE COMING UP SO

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CONFIDENCE SHOULD BE AT A DECENT
LEVEL.
>> CONFIDENCE AT A DECENT LEVEL
TO THE POINT ABOUT SPENDING

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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

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WE ALSO SUPPORT LOCAL COMPANIES
BECAUSE IT'S SUCH AN IMPORTANT
TIME OF YEAR FOR THEM AND ALSO
THERE IS RESEARCH THAT SHOWS

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BUYING EXPERIENTIAL GIFTS FOR
PEOPLE HAS A POSITIVE IMPACT SO
THINK ABOUT CULTURAL
INSTITUTIONS, ORGANIZATIONS LIKE

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THE ZOO AND MEMBERSHIPS TO
SUPPORT THOSE FOLKS I WOULD LIKE
TO SEE SOME OF THAT IN TERMS OF
HOW HOOSIERS THINK ABOUT GIFT

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GIVING.
>> ARE BUSINESSES GETTING MORE
ATTENTION IN AMERICAN EXPRESS US
AS IT WAS SMALL BUSINESS

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SATURDAY THIS WEEKEND AND A
FOCUS ON THOSE SMALL BUSINESSES
BECAUSE THERE IS SO MUCH
ATTENTION ONLINE SHOPPING AND

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OTHERS WITH AMAZON AND THE BIG
RETAILERS.
>> THERE'S A GIVE-AND-TAKE HERE
FOR US AS WE THINK ABOUT THE

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ECONOMY OF SHOP LOCAL INITIATIVE
IS FANTASTIC AND SUPPORTING
LOCAL COMPANIES BUT THEN WE ALSO
HAVE A BIG FEDEX OPERATION AND A

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VERY LARGE AMAZON FULFILLMENT
CENTER SO IT'S NOT AN EITHER OR.
BUYING ONLINE AND SEE FEDEX
WORKERS GIVE THEM A HUG OVER THE

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HOLIDAY.
>> THERE WAS NEGATIVE NEWS A LOT
OF POSITIVE NEWS WE'VE REPORTED
ON ESPECIALLY WHEN IT COMES TO

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MANUFACTURING, BUT THIS WEEK A
SHOCKER COMMENTS COLUMBUS BASE
COMMENTS ANNOUNCING PLANS TO LAY
OFF 2000 WORKERS GLOBALLY EXEMPT

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EMPLOYEES GLOBALLY AND NO WORD
ON HOW MANY WILL BE HERE AS
OPPOSED TO ANOTHER LOCATION.
AS YOU LOOK AT THAT ANNOUNCEMENT

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CUMMINS SAYING THEY HAVE A SLOW
DOWN THAT WILL BE STEEPER THAN
THEY THOUGHT.
BUT TAKING SOME PRETTY BOLD

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ACTION.
>> CUMMINS IS AN EMPLOYER OF
CHOICE IN INDIANA AND AROUND THE
COUNTRY EVEN THE WORLD.

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SO IT'S A MAJOR HIT WHEN THEY
HAVE TO LAY OFF INDIVIDUALS
ESPECIALLY AROUND HOLIDAY TIME.
THE INTERNATIONAL ECONOMY IS

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QUITE VOLATILE AND THIS IS TO BE
EXPECTED.
>> MARY BETH AS YOU LOOK AT THIS
YOU WORK WITH SOME BIG ICONIC

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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

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BOARD.
ANY FEEL FOR THAT?
>> THE ORGANIZATIONS WE'VE BEEN
TALKING TO IT LOOKS STRONG

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STILL.
I WOULD SAY THERE WILL BE A
LITTLE BIT OF A SLOW DOWN AND
SOFTER THAN 2019 BUT WE GAUGE IT

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BY OUR ORGANIZATIONS INVESTING
IN THE WORKPLACE, ARE THEY
HIRING, ARE THEY MAKING THOSE
EXPENDITURES ON REALLY INVESTING

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IN THEIR SPACES AND WE ARE
SEEING DOUBLE THUMBS UP A VERY
STRONG EVEN COMMONS, THEY HAVE
PLANS --

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>> THEY ARE NOT BACKING AWAY
FROM THOSE EXPANSION PLANS WHICH
ARE SUBSTANTIAL.
>> NOT THAT WE'VE HEARD OF YET.

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I THINK THE BUSINESS IS CYCLICAL
OBVIOUSLY AND I'VE SEEN THIS
HAPPEN A FEW TIMES IN THE
HISTORY OF MY TIME IN WORKING

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WITH THEM.
I WAS SURPRISED BUT MAYBE NOT SO
SURPRISED.
>> AN OUTFIT MIGHT CUMMINS KNOWS

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IT'S A GLOBAL ENTITY AS BUILT
MENTION.
SO TBD ON HOW MANY OF THESE JOBS
WILL BE LOCAL, HOW MUCH WILL

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IMPACT LOCALLY VERSUS AROUND THE
GLOBE AT, SO MANY GEOPOLITICAL
THINGS THAT TOUCH THEIR BUSINESS
THAT EVENTUALLY WE WILL HEAR

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MORE OF THE STORY, BUT FOR NOW I
HOPE IT DOESN'T IMPACT US TOO
MUCH LOCALLY.
>> AND SHOULD MENTION NEWS THIS

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WEEK THE STANLEY BLACK AND
DECKER THE COMPANY ANNOUNCING
LAYOFFS THAT WILL TAKE PLACE IN
GREENFIELD ABOUT 140 WORKERS OR

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SO WILL BE IMPACTED AT STANLEY
BLACK & DECKER.
THEY ARE IN HANCOCK COUNTY SO
THE COUPLE OF ANNOUNCEMENTS IN

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THE MANUFACTURING SECTOR THAT
POINT TO PERHAPS UNCERTAIN NEXT
YEAR.
ON THE POSITIVE SIDE INDIANA

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CONTINUES TO ATTRACT
INTERNATIONAL INVESTMENTS,
SOLINFTEC THE PRECISION A
COMPANY BASED IN BRAZIL

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ANNOUNCED EARLIER THIS YEAR
OPENED HEADQUARTERS AT THE
PURDUE RESEARCH PARK AND NOW
THEY SAY, THEY WILL LOPE EIGHT

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GLOBAL HEADQUARTERS MOVE IT TO
INDIANA.
A TESTAMENT TO PURDUE, THE STATE
OF INDIANA AND A GRID NOVUS AN

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ORGANIZATION BEHIND A LOT OF
THIS AG AND BIOSCIENCE MOVEMENT.
>> ALSO IF YOU LOOK AT THE LOCAL
GOVERNMENT THEY ARE GREAT PLACES

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TO DO BUSINESS.
MAYOR DENNIS WE WORKED WITH HIM
IN WEST LAFAYETTE AND I CONTINUE
TO BE -- I REALLY LOOK AT THOSE

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COMPANIES THEY'VE BEEN ADDING IN
THOSE COMMUNITIES AND I THINK
THERE'S A REASON FOR IT.
IT'S A GREAT PLACE TO DO

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BUSINESS AND THE TALENT THAT
COMES FROM PERDUE, BEING A
COLLEGE TOWN THERE'S A LOT OF
POSITIVES BUT THEY DO CONTINUE

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TO ATTRACT TOP-NOTCH
ORGANIZATIONS AND A LOT OF
GROWTH THERE RIGHT NOW WITH THE
COMPANIES WE'VE BEEN WORKING

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WITH.
>> A GREAT SUCCESS STORY HERE
AND WHAT I'VE HEARD FROM A GRID
NOVUS IN THAT THIS COMPANY

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SOLINFTEC WAS PLANNING TO PLACE
THEIR HEADQUARTERS IN ILLINOIS
AND IT WAS ALMOST DONE AND THE
TEAM AND A GRID NOVUS HEARD OF

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THIS FROM SOME INTRODUCTIONS
THAT WERE MADE AND THEY SAID
WAIT YOU SHOULD KNOW WHAT WE
BRING TO THE PARTY AND YOU

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SHOULD REALLY GIVE US A GOOD
STRONG LOOK AND GOVERNOR HOLCOMB
WAS ON THE PHONE.
MITCH DANIELS WAS ON THE PHONE

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AND THE SYNERGY WITH THIS
CLUSTER WITH AGRINOVUS WHAT
THEY'VE BUILT IN THE STATE IS A
POWERHOUSE SO THAT HAPPENED A

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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

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WE WILL DO THE GLOBAL
HEADQUARTERS SO IT'S IMPRESSIVE.
>> AND THAT STORY IS
REPRESENTATIVE OF MOMENTUM GOING

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ON AND COLLABORATION AROUND THE
STATE OF INDIANA.
ALSO INTERESTING WITH ONE MINUTE
LEFT PLACES TO VISIT IN 2020

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INDIANA MAKES THE LIST FROM ONLY
20 PLACES AROUND THE WORLD TO GO
TO.
INDIANA IS ONE OF THEM.

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>> THE DUNES OF MICHIGAN, BUT
THEY WENT ON TO TALK ABOUT HOW
GREAT INDIANAPOLIS IS IN THE
GREAT THINGS WE'RE DOING HERE SO

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IT'S PART OF THE BRANDING
STRATEGY FOR OUR STATE GETTING
THE STORY OUT THERE ABOUT A
GREAT STATE WE HAVE A CITIES AND

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PEOPLE AND RESOURCES AND IT'S
PAYING OFF.
THEY GET THAT MESSAGE OUT THERE
TO HELP US.

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>> THIS KIND OF PUBLICITY,
BEYOND THE NUMBERS DO YOU THINK
IT'S --
>> IT'S A NICE LOCATION CLEAN

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GOVERNMENT AND NICE TO BE HERE.
>> THE NATIONAL PARK DESIGNATION
IS A GAME CHANGER.
GET PEOPLE HERE THAT HAVEN'T

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THOUGHT ABOUT IT AS A
DESTINATION WHEN WE GET HIM HERE
BRING THEM TO OTHER PARTS OF THE
STATE AS WELL.

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>> THANKS ONE AND ALL.
BILL RIEBER, MARY BETH
OAKES,