The Republic from Columbus, Indiana • Page 11

ON THE BUSINESS by Joe Gill The Republic, Columbus, Monday, October 10, 2011 A11 DEATHS Georgia Buckingham Georgia Buckingham GEORGIA PETRO Petro Drive Lee Petro, 66, of Drive died at 3:21 p.m. Saturday, October 8, 2011, at Columbus Regional Hospital. She was born in Lebanon, Tennessee, October 14, 1944, the daughter of Charles and Margaret Phillips Thompson. She married Orville D. "Pete" Petro September 21, 1963 and he survives.

Georgia enjoyed riding her bicycle as much as she could and loved spending time with her family, especially her grandchildren and greatgrandchild. She is survived by daughters, Gale (Josh) Shobe of Columbus and Amy Petro of Columbus; a son, Danny Petro of Brown County; grandchildren, David Lee Petro, Whitney Hart- POLICE, FIRE EDITOR'S NOTE: The following information was summarized from the records of city, county and state police, fire and hospital agencies. Arrests Saturday Eric W. Goble, 39, Seymour, theft, 6:38 p.m., by Columbus Police Department, held in lieu of $10,000 bond. and well, Paige Petro, Erin Gladish Jagger Petro; a grandson, Sebastian Hartwell; brothers, Charles Thompson of Franklin, Raymond (Joyce) Thompson of Franklin and James Robert Thompson of North Vernon; and a sister, Gerry (Donald) Colvin of Columbus.

She was preceded in death by her parents. Funeral services will be conducted at 10 a.m. Wednesday at Jewell-Rittman Family Funeral Home. Calling will be from 4 to 8 p.m. Tuesday and from 9 a.m.

until service time Wednesday; at the funeral home. Burial will be at Flat Rock Cemetery in Bartholomew County. In lieu of flowers, memorial contributions may be made to the Georgia Lee Petro Memorial Fund through the funeral home. You are invited to view her video tribute after 4 p.m. Monday, light a virtual candle and send a message to the family via the internet.

www.jewellrittman.com Christopher S. Zeigler, 2 23, 657 Jewell St. Apt. theft, resisting law enforcement, 11:42 p.m., by Edinburgh Police Department, held in lieu of $15,000 bond. Chavis Fanton Rodgers, 27, North Vernon, false informing, out-of-county warrant, 11:47 p.m., Rex Boling North Vernon Rex Boling, 45, of North Vernon died at 3 a.m.

Sunday, Oct, 9, 2011, at his residence. Survivors include his wife, Ginger Boling. Arrangements are incomplete at Sawyer-Pickett Funeral Cremation Service. Beth Cooley Edinburgh Beth Cooley, 55, of. Edinburgh, died Sunday, Oct.

9, 2011, at her home. She is survived by her husband, Darrell Cooley. Arrangements are incomplete at Jewell-Rittman Family Funeral Home. John Simpson Ill Edinburgh John N. Simpson III, 64, of Edinburgh died at 7:05 p.m.

Saturday, Oct. 8, 2011, in I Columbus. A memorial service will be conducted at 7 p.m. Wednesday at Barkes, Weaver Glick Funeral Home on Washington by Edinburgh Police Department, no bond. Carmen Nicole Wade, 21, 1225 Lafayette theft, possession of a controlled substance, 11:54 p.m., by Edinburgh Police Department, held in lieu of $20,000 bond.

Family and friends may call from 5 p.m. until service time Wednesday at the funeral home. A private inurnment service will be conducted at Bethel Baptist Cemetery with military rites conducted by the Indiana Army National Guard Honor Guard. Surviving is his wife, Karen S. Simpson.

A complete obituary will appear in Tuesday's edition of The Republic. Debra Stambaugh Bedford Debra Mae Stambaugh, 58, of Bedford died at 12:49 p.m. Saturday, Oct. 8, 2011, at Garden Villa Nursing Facility in Bedford. A graveside service will be conducted at 1 p.m.

Tuesday at Garland Brook Cemetery with Virgil Clotfelter officiating. Survivors include her mother, Edith Stambaugh of Tulsa, a brother, David C. Stambaugh of Tulsa, a sister, Rebecca Karjewski of Vandalia, a step-sister, Kimberly Van Selow of Indianapolis; and her step-mother, Dorothy Stambaugh of Columbus. Sunday Brooke K. Kimse, 20, Elizabethtown, illegal consumption, 2:30 a.m., by Columbus Police Department, released on $2,500 bond.

Sonsiarae Dawn Cathey, 34, 2220 Gilmore public Recessions come in many varieties BY BERNARD CONDON Associated Press NEW YORK Are investors overreacting to the prospect of a recession? The slightly better jobs report, on Friday notwithstanding, the odds of a recession pear to be climbing, and that's bringing scary memories. stocks look cheap thanks to record corporate profits, that was also true the last time the U.S. was heading into a downturn. Based on recent recessions, profits could fall a third if the economy crumbles. investors have been worried about a new recession for months.

Headlines last week ratcheted up the fear. On Tuesday, the Federal Reserve Chairman Ben Bernanke testified to Congress that the recovery is to faltering." Goldman Sachs said Europe could fall into recession by the end of the year, and push the U.S. "to the edge" of one itself. A co-founder of the Economic Cycle Research Institute, a forecasting firm that called the last three downturns, made the rounds of TV news shows to say a U.S. recession was all but inevitable.

With memories of the Great Recession so fresh, investors are understandably spooked. A year after that downturn began in Dec. 2007, profits at companies in the Standard Poor's 500 index turned into losses. Three months after that, stocks hit bottom at half their pre-recession peak. But recessions come in many varieties, and most are less scary than the last one.

A review of past ones shows that: Profit drops range widely. From peak to trough, profits at 500 companies, excluding financial firms, fell an average 32 percent in the past five recessions, according to Adam Parker, U.S. equity strategist at Morgan Stanley. He excludes financial firms because their record write offs in the last recession turned profits into losses, and would exaggerate the drop at the average company in the index. The biggest fall in profits: 57 percent from the peak before "Everyone wants a recession playbook, but there aren't enough similarities with prior cycles to know which one to pick." BUSINESS Adam Parker the 2001 dot-com recession.

Profits during the 1981-82 recession fell 17 percent. Recessions usually last less than a year. A recession that began in January 1980 was over in six months. The Great Recession that ended June 2009 lasted 18 months, the longest since the Great Depression. The 11 recessions since World War II averaged 11 months.

Stock investors can get clobbered, but not always. Bear markets that accompany recessions have pulled stocks down an average 38 percent in the last five downturns, based on data from Sam Stovall, chief investment strategist at Standard Poor's. From their October 2007 peak before the last recession, stocks fell 57 percent. But in the bear market during the recession that' began in July 1990, they fell only 20 percent. By the time the economy falls into recession, much of the damage to stocks is ally over.

The stock market famously looks forward six to nine months, and that's mostly true on the cusp of downturns, too. Stocks had been dropping for a year by the time the 2001 recession began. That's worth remembering if another recession is coming. The 500 is already down 15 percent from its recent peak in April. Problem is, not even experts who study downturns can prediet exactly what kind of recession may come next.

"Everyone wants a recession playbook, but there aren't enough similarities with prior cycles to know which one to Financial snapshot Friday, Oct. 7, 2011 WEEK'S WEEK YEAR Interest rates CLOSE AGO AGO Average rate paid on banks money-market accounts 0.15% 0.15 0.19 (Bank Rate Monitor) 91-day Treasury Bill Yield 0.01% 0.02 0.12 10-year Treasury Bond 2.07% 1.92 2.38 Commodities Commodities Research Bureau Index 303.73 298.06 295.14 DJ UBS Commodities 'Indexes 141.81 140.20 114.39 Stocks Dow Jones Industrial Avg. 11,103.12 10,913.38 11,006.48 500 1,155.46 1,131.42 1,165.15 Dow Jones U.S. Total Stock Mkt 12,020.46 11,771.86 12,196.20 AP pick," says Morgan Stanley's Parker. To be sure, most Wall Street analysts and economists think one isn't even likely now.

Jim Paulsen, chief investment strategist at Wells Capital Management, notes that recessions are typically preceded by what he calls "excesses" that need to be purged from the economy. He doesn't think that's true today. "Have banks been aggressively overextending loans? Has anyone been borrowing too much lately? Are companies overstaffed?" Paulsen writes in a recent report. "It's hard to see why the U.S. would experience a recession when almost nothing requires a correction." Even if he's wrong, investors bracing for a downturn on the scale of the last one may be pleasantly surprised.

In the Great Recession, the output of many countries shrank at the same time, punishing earnings of U.S. companies that had hoped sales abroad would soften the blow from lower U.S. sales. Fear spread that banks wouldn't make good on their own loans, and that led them to stop making loans to businesses of all kinds. Companies cut more than 600,000 workers a month for six months in a row.

With fewer jobs, people had less money to spend and companies sold less, which led them to cut more jobs. How likely is a repeat? Banks have fatter cushions against losses now than before the financial crisis. Companies in the 500 are making more money than ever, and squirreling away some as cash reserves, a sort of rainy-day fund. They've laid off so much staff and are running so lean, it won't be as easy to cut jobs like they did in the last recession. The government reported Friday that non-farm payrolls rose 103,000 in September, better than expected but not enough to lower the unemployment rate.

That rate held steady at 9.1 percent. So if a recession is coming, how bad might it get? That depends on whether the U.S. falls into one alone or together with other countries as it did the last time. Parker, of Morgan Stanley, is a sort of grim optimist. He doesn't think stocks are the bargains that Wall Street analysts claim.

But he doesn't think a worldwide, downturn that would send them plummeting is likely, either. If a U.S. recession is coming he thinks, the odds favor a garden one. He says profits for 500 companies could fall to maybe $85 per share in 2012, a quarter below the $112 that analysts expect now. 'Real Steel' punches way into lead at box office ASSOCIATED PRESS LOS ANGELES Boxing robots are the undisputed champions at the weekend box office.

Hugh Jackman's "Real Steel," set in a near-future when robot fighters have replaced hu- Barkes, Weaver Glick Home. Bryan Weitzel Pearl Street made by Funeral BRYAN WEITZEL Bryan John Weitzel, 47, of Pearl's Street died at 12:50 p.m. Saturday, October 8, 2011, at Hospice of South Central Indiana Inpatient Facility. He was born in Oakland, BRYAN WEITZEL June 2, 1964, the son of Trac- ey and Sheena Weitzel. He had served as the manager of the Book Warehouse at Edinburgh Premium Outlets.

He also enjoyed photography, writing and was a loyal patron of 4th Street Bar Grill where he was an avid Trivial Pursuit and Chess player. A Mass of Christian Burial will be celebrated by Fr. Clem Davis at 1:30 p.m. Wednesday intoxication, 3:16 a.m., by Columbus Police Department, held in lieu of $3,500 bond. Rick Smallwood, 50, 656 Clifty Drive, public intoxication, criminal mischief, 5:46 a.m., by Columbus Police Department, held in lieu of $7,000 bond.

Darrell Wesley Crow 33, 3102 16th residential entry, 9:09 a.m., by Columbus Police Department, held in lieu of $5,000 bond. at St. Bartholomew Catholic Church. A gathering of family and friends will be from 5 to 8 p.m. Tuesday at Myers-Reed Chapel on 25th Street.

In keeping with Bryan's wishes, cremation will follow the Mass. In lieu of flowers, memorial contributions may be made to St. Jude's Children's Research Hospital, 501 St. Jude Place, Memphis, TN, 38105. He is survived by his parents, of Columbus; his companion, Debra Totten of Columbus; sisters, Catherine (Michael) French of Columbus, Wendy (Roger) Franklin of Vincennes and Moira (Gordon) Kinnear of Grantham, England; his grandfather, William Bryans of Brechin, Scotland; his faithful K-9 friends, Rennie and Brody; and several nieces, nephews, uncles, aunts and cousins.

Online condolences may be made at www.myers-reed.com. HAPPY BIRTHDAY Street. George Clooney's political saga "The Ides of March" was the runner-up, opening at No. 2 with $10.4 million. The Sony release stars Ryan Gosling as an aide to a presidential candidate (Clooney) caught up in scandal.

Clooney also directed. In Loving Memory of Darrell Barnett If heaven wasn't so far away we would come visit you on your special day. Happy Birthday. Loving and missing you more every day. Your wife, children grandchildren Loving Memory of April D.

Whitehead April 7, 1985 October 10, 2006 Remember me when flowers bloom early in the spring. Remember me on sunny days in the fun that summer brings. Remember me in the fall as you walk through leaves of gold. And remember me in the winter time in the stories that are told. But most of all remember each day, right from the start.

I will be forever near for I live within all of your hearts. Love your family, friends and your daughter Destiny R. God saw you were getting tired, Virginia (Jenny) And a cure was not to be: Hilderbrand So he put His arms around you. And whispered, "Come with October 10, 2006 With tearful eyes we watched vou suffer, And saw you fade away; Although we loved dearly, We could not make you stay. A golden heart stopped beating, Hard-working hands to rest; God broke our hearts to prove to us, He only takes the Best.

Missed by husband Kenneth children Donna Larry 13000 The Nation's Largest Window Replacement Company Home of the $189 Window We don't just stand behind our windows we stand on them! FAMILY OWNED OPERATED findow tasty Simply the Best for Less" 1-800-NEXT-WINDOW Yant Hhme Winder www.WindowWorld.com 1636 STATE SUITE COLUMBUS 812-372-0008 "In Laving Memory Thomas Dwight King We farewell works were spoken, No time to say aged bye, ton were gone before we knew it, And only God knows why. Forever in our hearts and sadly missed. Love, Dad, Mom and family mans in the ring, debuted at No. 1 with $27.3 million, according to studio estimates Sunday. A Dream Works release distributed by Disney, "Real Steel" added $22.1 million in 19 overseas markets for a worldwide total of $49.4 million.

The previous No. 1 movie, the Warner Bros. family film "Dolphin Tale," slipped to No. 3 with $9.2 million, raising its domestic total to $49.1 million. Males accounted for twothirds of the audience for "Real Steel.".