Tuesday, April 27, 2010

State budget crisis hitting local businesses' bottom line

More than two-thirds of local businesses say state budget problems and late payments have hurt their bottom line.

A spring economic survey by the University of Illinois Springfield also found that business owners believe chronic financial problems at the state will remain a major challenge in the coming year.

Nonetheless, the survey also found that local business owners are in a somewhat better mood than last fall, though they expect the economic recovery to be slow.

More than a quarter expect at least some business growth this year, up 4 percentage points from a September survey. Nearly three-fourths expect the economy to stay about the same or to continue its decline.

“Things are looking better, but they are not real confident yet,” said Patty Byrnes with the Center for State Policy and Leadership at UIS.

The survey was featured in a April 27, 2010, article in the State Journal-Register.

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Wednesday, April 7, 2010

Richard Judd: Saving capitalism

The following column was written by Richard Judd, National City Distinguished Professor Emeritus at the University of Illinois Springfield. It was published in the State Journal-Register on April 7, 2010.

"For decades the U.S. was the epicenter of advanced technology production. No longer. In 2008 the U.S. exported $275 billion of such goods but imported more than $329 billion. Of those imports, $91 billion came from China. The U.S. depends on advanced technology, yet we are outsourcing production.

The state of global trade in 2010 is as precarious as global finance was before its 2008 collapse, largely because of a free-market approach to global trade and deregulation of the money industry."

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Friday, December 11, 2009

Professor weighs in on power company's proposed plan

Rocky Mountain Power in Salt Lake City wants to change the way it bills customers for the electricity they use, a decision it says will help lower costs and allow Utahns to better track their electricity usage and respond to changing prices, but that is receiving criticism from experts in the field.

Karl A. McDermott, a professor of business and government at UIS, was one expert who weighed in on the situation in a December 11, 2009, article in the Salt Lake Tribune.

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Rate plan receives criticism from experts

Customers who buy their power from Duke Energy in South Carolina face a 9.2 percent price hike by February under a settlement agreement between the company and the Office of Regulatory Staff, the state agency charged with protecting the public interest in utility matters.

If South Carolina's Office of Regulatory Staff had employed the same average and peak method for cost allocation method as other states like Michigan, Duke's residential customers might not be facing such a steep rate hike at the same time manufacturers are set to get a decrease, according to Carl Peterson, a professor in the Center for Business and Regulation at the University of Illinois Springfield.

Comments from Peterson were featured in a December 11, 2009 article published in the (South Carolina) State.

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Friday, October 30, 2009

U of I Classes in Peoria

The UIS Peoria Center was previously located on the ICC campus in East Peoria.

According to the Dean of the College of Business Management, moving downtown provides convenience and affordability for those seeking a bachelors or M.B.A.

He says in these economic times, it's important for Peoria to have affordable public education in the heart of the city.

The Peoria Center was featured in an October 29, 2009 report on WEEK-TV and WHOI-TV.

Read more and watch the report online:

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Monday, July 27, 2009

Furlough days a possibility for U of I

A message from University of Illinois President B. Joseph White and the chancellors at the three U of I campuses went out alerting staff and faculty that unpaid furlough days may be considered as a way to alleviate any budget deficits.

The topic was featured in a July 22, 2009, article in the State Journal-Register.

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Monday, July 13, 2009

Springfield Enterprise Index predicts slow economy

The Greater Springfield Enterprise Index, a University of Illinois at Springfield index, indicates “below normal” local economic activity for April and projects lagging growth for the rest of 2009.

Compared to previous indexes, this is the first time a major slowing of the economy has been seen, according to Patty Byrnes, professor of economics at UIS.

The index was the feature of a July 9, 2009 article in the State Journal-Register.

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Friday, January 16, 2009

UIS hosts economic outlook breakfast for Chamber

UIS hosted the annual economic outlook breakfast for the Greater Springfield Chamber of Commerce on Thursday, January 15, 2009. A UIS index was released at the breakfast and forecasts a rebound in the local economy this spring.

The meeting and the event's speaker, national economist Robert Genetski, were featured in a January 16, 2009, article by the State Journal-Register.

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Thursday, January 15, 2009

Illinois' campuses boost economy

The University of Illinois' three campuses add $13 billion to the state's economy every year, according to a new study from the Institute of Government & Public Affairs.

The study also said university campuses in Urbana-Champaign, Chicago and Springfield pump another $9 billion indirectly into the state's economy as their employees spend their salaries and other university money circulates through the economy.

This new study was written about in a January 14, 2009, Associated Press article.

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Wednesday, November 19, 2008

Campus Town may be moving closer to reality

With the BOT approval of UIS' updated Campus Master Plan, the development of a Campus Town, to be located on the west side of campus outside the ring road, has moved a step closer to becoming a reality.

WCFN reporter Blake Wood posted a report November 14, 2008, on MyCFN News.

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Monday, November 3, 2008

Berman: Community must make the most of economic opportunities

In an "In My View" column appearing in the November 1, 2008, State Journal-Register, UIS Provost Harry Berman outlined the goals of the Continuum of Learning, an initiative of the Greater Springfield Chamber of Commerce, United Way of Central Illinois, and Sangamon Country Community Foundation. Berman chairs the Continuum's Steering Committee.

The intention, said Berman is a "community commitment to seeing that the highest possible proportion of children, adolescents, and young adults are progressing successfully through each stage of development and are poised to succeed and to contribute to the region's economy."

Download a pdf file of the column

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Friday, September 12, 2008

Gas prices affect athletics, too

An article in the September issue of the Springfield Business Journal discussed the impact of rising gas prices on local businesses. Correspondent Raegan Hennemann also spoke with UIS Athletic Director Rodger Jehlicka about its effect on college sports. Jehlicka noted that UIS coaches have several options to avoid going over budget. Download a pdf file of the article:

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Tuesday, September 2, 2008

Campus Town proposal will be submitted again

The master plan that UIS will submit to the Board of Trustees in November will once again include plans for a commercial "campus town" development on 80 acres on the west side of campus.

The idea aroused little interest from businesses when it was first proposed several years ago. However Chancellor Ringeisen is confident that several factors, including a much larger number of residential students, have combined to ensure success this time.

Tim Landis' column in the August 31, 2008, State Journal-Register outlined the revamped plan.

Download a pdf file of the column


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Tuesday, December 18, 2007

Judd calls for new management model

Professor Richard Judd believes that businesses need to adopt a new management model to succeed in the 21st century.

He outlines what this means in an article that appeared in the State Journal-Register/Springfield Business News on December 5, 2007.

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