Indiana's place in a globalized economy

April 20, 2010
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Who would have thought just a few decades ago that developing countries would so get the hang of research and development that they’d rise to challenge the West?

But they are. Hugely. As is argued in a recent Economist piece, developing nations are hustling to outdo each other and Western economic powers and play greater roles on the global stage.

They aren’t just making things cheaper, like $3,000 cars and $30 cell phones. They’re building sophisticated companies and reinventing business models.

Big multinationals are fueling the surge as they hope to profit from booming populations. For instance, General Electric’s largest health care R&D location is now in Bangalore.

Maybe it’s no wonder Warren Buffett bought stock in CSX. It’s tough for foreign competitors to take on a domestic railroad.

It goes without saying that these trends affect Indiana. Yet, the state has lots of deep strengths. Hoosiers are good at making things, and the world will continue demanding products ranging from engines to artificial hips.

Indiana also is in the middle of the world’s largest economy. Things and people pass through here on their way elsewhere.

And Indiana has some of the best farmland in the world. That’s good for churning out food products—another promising export, one with potential for lots of value-added.

How would you rate Indiana’s prospects of thriving during an era of rising global competition?
 

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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