2006 economic outlook promising, says Kelley staff
\nEconomists from IU's Kelley School of Business presented an optimistic but guarded forecast for 2006 Friday, predicting the financial impact of the Gulf Coast hurricanes will be brief, leading to a national output growth of 3.6 percent next year. \nForecasters suggested national economic growth and inflation will return to pre-Katrina levels but were less confident about this year's forecast compared to previous years. Risks to the forecast include uncertainty about energy prices, the possibility of problems in the housing sector and potentially destabilizing deterioration in the government deficit and trade balance, professors said. \nSlow economic growth is predicted for Indiana, with a projected increase of at least 25,000 jobs in 2006. Sectors poised for highest growth in Indiana include education and health services, trade, transportation and construction. Professional and business service jobs are also predicted to grow. \nThe forecast was presented Friday in Indianapolis, Bloomington and Columbus, and will be presented in Richmond, Anderson, Kokomo, South Bend, New Albany, Ind., and Schererville, Ind., during the next two weeks.
Trump to sell Gary casino to competitor
\nGARY --- Donald Trump's casino company said Friday it had agreed to sell its Lake Michigan riverboat and hotel to the owner of its dock-sharing competitor in a $253 million deal.\nThe sale of the casino comes as Trump Entertainment Resorts works on its reorganization after filing for bankruptcy protection last year and just months after it was forced to drop its plans to build a new casino in southern Indiana's Orange County.\nThe casino's buyer is Las Vegas-based The Majestic Star Casino LLC, which has a neighboring casino in Gary. The two companies have a joint venture that owns the dock, entrance pavilion and restaurants the two riverboats share.\nGary Mayor Scott L. King said the sale should be a boon for the city's hopes to redevelop the lakeshore to boost the regional economy, which include plans by Majestic Star owner Donald Barden to build a hotel and convention center.\nDespite Trump's star power and billions, the Gary casino has drawn among the fewest gamblers of Indiana's 10 casinos as it is the state's only riverboat with a next-door competitor and visitors from Chicago had two closer Lake Michigan casinos at which to stop.
