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Last modified: Wednesday, October 10, 2007

Kelley School's Business Outlook Panel to provide economic forecast for 2008

FOR IMMEDIATE RELEASE

EDITORS: A schedule of the Business Outlook Panel's appearances is below. Media with questions about any of the presentations are asked to contact George Vlahakis, University Communications, at 812-855-0846 or gvlahaki@indiana.edu. Arrangements have been made for electronic media covering the Indianapolis presentation.

BLOOMINGTON, Ind. -- A meltdown in the housing and mortgage markets has shaken Wall Street and small investors alike. Record heating prices are expected this winter. Consumer confidence is at a two-year low. Top retailers are revising their sales estimates. Questions persist about a recession.

What's next?

Indiana University's Kelley School of Business will present its national, state and local economic forecasts for 2008, beginning with a presentation Nov. 1 in Indianapolis, followed by similar events in 10 other cities across the state.

"The economic environment is more challenging to predict than it has been for several years," observed Jerry Conover, director of the Kelley School's Indiana Business Research Center. "We're carefully examining the depth of the credit crunch, interest rate changes, labor tensions and several other factors as we prepare our forecast for 2008."

The Business Outlook Panel will make its initial presentation at 7:30 a.m. at the Westin Indianapolis Hotel, 50 S. Capitol Ave., in the Grand Ballroom III.

For nearly 35 years, the panel has traveled the state offering insights and useful guidance to citizens, policy-makers and business people. As in the past, this year's panel will feature faculty members from the Kelley School and the Economics Department, plus local panelists from other IU campuses and other universities, offering perspectives on the national and state economies and financial markets.

The starting point for the forecast is the Econometric Model of the United States, developed by IU's Center for Econometric Model Research, which analyzes numerous statistics to develop a national forecast for the coming year. The center's Econometric Model of Indiana provides a corresponding forecast of where the state's economy is headed. The Business Outlook Panel then adjusts the forecast to reflect additional insights they have on the economic situation.

Appearing at the Indianapolis presentation will be Conover; John Boquist, the Edward E. Edwards professor of finance; Philip T. Powell, clinical associate professor of business economics and public policy and chair of the Evening M.B.A. Program; and Willard Witte, associate professor of economics and co-director of the Center for Econometric Model Research. Dan Smith, dean of the Kelley School, will moderate the discussion and public Q&A session to follow.

Other IU economic experts involved with the tour include Robert Jennings, the Gregg T. and Judith A. Summerville Professor of Finance; Elham Mafi-Kreft, clinical assistant professor of business economics and public policy; Morton Marcus, director emeritus of the IBRC; William Sartoris, professor of finance and director of the Investment Banking Academy; Timothy Slaper, the IBRC's director of economic analaysis; and James Smith, co-director of the Center for Econometric Model Research and senior lecturer in finance.

This year's tour is sponsored by IU's Kelley School of Business, the IU Alumni Association, IU campuses and various community organizations.

To register for the Indianapolis presentation, contact the Kelley School of Business Alumni Programs Office at 812-855-6340 or go to its Web site at http://kelley.iu.edu/alumni/calendar/. The cost is $35 for IU Alumni Association members and $40 for everyone else. A table for 10 people can be reserved for $375. Advance registration is required and must be done by Oct. 24.

For questions about other panel presentations, contact the sponsoring local organization or the Indiana Business Research Center at 812-855-5507 or go to its Web site at http://www.ibrc.indiana.edu/.

Business Outlook Panel tour schedule

(Host organizations and contact information are listed in parentheses)

Nov. 1 -- Indianapolis: 7:30 a.m., Westin Indianapolis Hotel (Kelley Alumni Club of Indianapolis and IU Alumni Club of Indianapolis, 812-855-6340, http://kelley.iu.edu/alumni/calendar/).

Nov. 2 -- Columbus: 7:30 a.m., The Columbus Learning Center, 4555 Central Ave., $15 for chamber members and $25 for non-members, (Columbus Area Chamber of Commerce and Indiana University Purdue University Columbus, 812-379-4457, klatham@columbusareachamber.com).

Nov. 5 -- Richmond: 11:30 a.m., Forest Hills Country Club, 2169 S. 23rd St., $15 (IU East Alumni Association and the Eastern Indiana Chapter of the IU Alumni Association, 765-973-8221 or twiesaha@indiana.edu).

Nov. 6 -- Anderson: 11:30 a.m., Anderson Country Club, 602 North Shore Blvd., $15 (Anderson Chamber of Commerce, 765-642-0264, andersonchamber@ameritech.net).

Nov. 7 -- Kokomo: 7:30 a.m., Kelley Center, IU Kokomo, $12 (IU Kokomo School of Business, 765-455-9275)

Nov. 7 -- Fort Wayne: 11:30 a.m., Walb Student Union Ballroom, 2101 E. Coliseum Blvd., Indiana University Purdue University Fort Wayne, $25 or $200 for tables of 10 (IU Alumni Chapter of Northeast Indiana and Richard Doermer School of Business and Management Sciences, 260-481-6807, prices@ipfw.edu).

Nov. 8 -- South Bend: 7:30 a.m., College Football Hall of Fame, 111 S. St. Joseph St., $15, $10 for students. Corporate tables of eight are $105. Register online at http://www.gotoworkone.com (Northern Indiana Workforce Board Inc., 574-239-2380, ext. 234, bwhite@wdgusa.com)

Nov. 9 -- Bloomington, 11:30 a.m., Bloomington Convention Center, 302 S. College Ave. The cost for Bloomington Chamber members and active Rotarians is $16. Others can register for $20. (Bloomington Rotary Club, Bloomington North Rotary Club, Bloomington Sunrise Rotary Club and the Greater Bloomington Chamber of Commerce, 812-336-6381 or info@chamberbloomington.org)

Nov. 12 -- Evansville (as part of the Economic Outlook Luncheon event), noon, The Centre, 715 Locust St., $35 or $500 for corporate sponsor table reservations, (Regency Properties and Old National Bank, Shannon Kremer, 812-424-9200, ext. 315, skremer@regency-prop.com. Registration form available online at regency-prop.com. Proceeds from the event will underwrite the Junior Achievement's Job Shadow Program in 2008.

Nov. 13 -- New Albany: 7 a.m. (presentation begins at 8 a.m.), Hoosier Room, IU Southeast, $25 or $175 for a table of eight (IU Southeast School of Business and First Harrison Bank, 812-941-2325, defuchs@ius.edu, http://www.ius.edu/Business/Events.cfm?#70)

Nov. 16 -- Schererville: 7:30 a.m. and noon, Teibles Restaurant, 1775 Route 41, $12 breakfast, $15 lunch (Lake County Community Development Committee, 219-755-3242, hkowalsk@purdue.edu)