Walkerton Tool & Die began 50 years ago, when Harold Rizek started the business in his mother’s garage, performing second-hand drilling and tapping operations for Caterpillar. Now, his son Scott runs the company, although Harold remains a key part of the daily operation.

"He’s still day-to-day; he’s 76, and still here every day at 7 a.m. doing what he needs to do," Scott says of his father. "Just seeing what he can do at that age is great motivation, even for me. It doesn’t surprise me the company’s been going for 50 years because of the great work ethic he instills – and all the guys do, really."

Caterpillar remains the company’s largest customer – and all of its customers reside in the Midwest. While providing parts to Caterpillar has remained a constant part of the company’s business, Scott explains the industry has changed over the years.

"Back in the 1960’s, tool fixturing and dies were where the money was," he says. " Today, we really don’t do tool and die work or fixtures, it’s mostly short-run to high-production machining. You went from the highly skilled die makers and tool makers (to more tech-based production), but the technology is leaps and bounds ahead."

He adds that the economic decline in recent years caused the company to change how it operated.

"With the downturn, we saw volumes go down," Scott relays. "So we had to get more efficient. We moved machines into cells so one machinist runs two machines… and we invest in new equipment with faster machining times to help productivity. We were coping with lower volumes, but getting more economical to still turn a profit."

In the future, Walkerton Tool & Die will likely further diversify its capabilities to meet customer needs.

"Over the years, my father built the company to where we don’t specialize in one size of part," Scott offers.  "We can run little parts off of bar feed lathe and we can go up to seven feet long; we’ve machined some big axels for bulldozers. So we want to keep diversifying our machine capabilities as far as sizes, and that will help us in the long run."

He adds that many patrons who come into the shop are surprised by how much activity goes on in the 17,000 square foot building.

"One thing people always tell me, whether it’s a customer, a salesman, or a new guy coming in, is that our shop isn’t super huge but when you get in here, everything’s organized, it’s a clean shop and it’s a lot of technology," Scott notes. "Everything’s compact in here and it makes us more efficient as far as moving parts from machine to machine. A lot of people say they’ve driven by here for years and can’t believe what it’s like inside."

All told, Scott looks forward to 50 more years of productivity from the Walkerton business, which remains a point of stability in an industry and economic climate that are sometimes precarious.  

"In this trade, if you’re in business 50 years, you must be doing something right because it’s tough to stay in business nowadays," he concludes.

For those interested in the world of wagering, the Super Bowl is famous for its exotic opportunities — length of the national anthem, color of the Gatorade to be poured on the winning coach, etc. If you’re mainly interested in who wins the game, look no farther than unemployment statistics, according to an analysis by outplacement firm RiseSmart.

The team whose metropolitan area boasts the lower unemployment rate during the previous calendar year has won 17 of the past 20 Super Bowls – a remarkable 85 percent success rate.  Based on this correlation, the New England Patriots should claim the NFL championship over the New York Giants.  Through November, the 2011 unemployment rate for the Boston metropolitan area was 6.8 percent, compared to 8.5 percent for the New York metropolitan area.

On January 26, 1992, the Washington Redskins defeated the Buffalo Bills in Super Bowl XXVI; that year, the Washington, D.C. metro area’s unemployment rate of 4.6 percent was substantially lower than Buffalo’s 7.2 percent. So began the string in which 17 out of 20 times, the Super Bowl winning city had a lower unemployment rate than that of the losing hometown. The predictor has been correct in the past three championship games, including Super Bowl XLV, in which Green Bay (7.7 percent 2010 unemployment) defeated Pittsburgh (8.0 percent).

Other facts of note:

• On the seven previous occasions that both teams’ metro areas have had unemployment greater than 5.5 percent – as is the case this year — the team from the metro area with the lower jobless rate has won in every instance.

• During the five previous occasions when at least one team represented a metro area with 7+ percent unemployment – as is the case this year, with the New York Giants – the team with higher unemployment lost in every instance. 

• The Giants’ upset victory over New England in Super Bowl XLII, when the Patriots entered the game undefeated, represents one of the three times in the past two decades when the unemployment rate predictor failed to predict the outcome of the game.

“Correlation does not imply causation, of course. And there are exceptions to every rule,” says Sanjay Sathe, founder and CEO of RiseSmart. “But one should never underestimate the power of having a job.”

What’s going on in the venture capital world and where does Indiana rank compared to other states? We’ll let the experts provide the analysis (below). As far as Indiana’s status, the 14 deals in 2011 (ranking 26th among the states) were similar to previous years; the nearly $178 million invested (20th ranking), however, exceeded recent trends. In other words, we had bigger deals in 2011.

The State Science &Technology Institute offers the following on a national level:

U.S. venture capital activity continued to rebound in 2011, with total investment dollars reaching levels similar to venture capital activity before the late-2008 drop, according to the latest data from the National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PWC) Moneytree survey. Venture capitalists invested $28.4 billion last year in the U.S., up 30.3 percent over 2010. The NVCA/PWC announcement ranks 2011 the third highest year for investment in the past decade. Venture deals, however, grew by only 12.1 percent, stemming from higher valuations and continued support for portfolio companies.

Early stage investment activity grew substantially last year, while seed stage investment declined. VCs invested $8.3 billion in 1,414 early stage companies, an increase of 47 percent in terms of dollars and a 16 percent increase in deals over the previous year. Early stage investments represented about 29 percent of all venture dollars and 38 percent of deals, a modest increase over 2010. Seed stage investments, however, declined by 48 percent in terms of dollars to $919 million. Seed stage deals remained steady at 396. These numbers indicate that even though the overall trend in 2011 suggest a preference for larger deals, seed stage deals experienced a decline in average size.

Most states shared in the increase in venture activity last year. Among 2010′s top ten states for venture dollars, only North Carolina and Washington had decreases in activity in 2011. The decline caused North Carolina to drop out of the top ten for the year, replaced by Virginia where venture dollars increased by 61.8 percent to $607.6 million. California, which was the recipient of 51 percent of all venture dollars last year, experienced a 32.1 percent increase in investment.

View SSTI charts on dollars invested and deals.

The U.S. Chamber of Commerce sent a letter to Congress on January 23 encouraging it to support investment in the nation’s surface transportation infrastructure. The letter had around 1,000 signatories from the business community, as most feel enhanced transportation infrastructure (better bridges, public transportation, etc.) will make America a better place to do business. Congress has until March 31 to reauthorize the current funding law: 

TO THE MEMBERS OF THE UNITED STATES HOUSE AND SENATE:

As Congress embarks on a new legislative session, we, the undersigned companies and organizations, urge you to Make Transportation Job #1 in 2012 and pass federal highway, transit and safety legislation before the current law expires on March 31. The long-delayed reauthorization of federal highway and public transportation programs is a major piece of unfinished business that can provide a meaningful boost to the U.S. economy and its workers and already has broad-based support.

To grow, the United States must invest. There are few federal efforts that rival the potential of critical transportation infrastructure investments for sustaining and creating jobs and economic activity over the short term.

Maintaining at 2011 levels—and ideally increasing—federal funding for road, bridge, public transportation and safety investments can sustain and create jobs and economic activity in the short-term, and improve America’s export and travel infrastructure, offer new economic growth opportunities, and make the nation more competitive over the long-term. Program reform would make the dollars stretch even further: reducing the time it takes transportation projects to get from start to finish, encouraging public-private partnerships and use of private capital, increasing accountability for using federal funds to address the highest priority needs, and spurring innovation and technology deployment.

We recognize there are challenges in finding the resources necessary to adequately fund such a measure. However, with the economic opportunities that a well-crafted measure could afford and emerging political consensus for advancing such an effort, we believe it is time for all involved parties to come together and craft a final product.

In 2011, political leaders—Republican and Democrat, House, Senate and the Administration — stated a multi-year surface transportation bill is important for job creation and economic recovery. We urge you to follow words with action: Make Transportation Job #1 and move legislation immediately in the House and Senate to invest in the roads, bridges, transit systems that are the backbone of the U.S. economy, its businesses large and small, and communities of all sizes.

This falls into the category of "we know it goes on, but you’ve got to be kidding." To be more precise, the subject is exaggerating a bit on employee expense forms; the "kidding" part is the ridiculous lengths some people go to try and get non-business expenses paid for.

Not to be "Mr. Goody Two Shoes," but that common exaggeration part, when you look a little closer at it, is really like stealing. No, it’s not swiping the candy bar from the convenience store when the clerk isn’t looking. But at an age when we’re supposed to know better, it is trying to take something (money) from your employer that doesn’t belong to you under those circumstances.

Anyway, Robert Half Management Resources conducted a recent survey of chief financial officers. The question: Most unusual things you’ve seen on expense reports; the answers: pretty incredible.

Here’s a sample, with a larger list in the company’s press release:

• Cosmetic surgery
• Lottery tickets
• Pet food
• A trailer rental for a family reunion
• A teepee
• A person lost his personal cell phone somewhere in the office, so he submitted the cost of a new one
• A golf trip for the employee and his three friends
• Video game console
• Hot tub supplies

OK, it’s already a little more difficult to get out of our downtown Indianapolis parking garage. The areas to the north and east of Lucas Oil Stadium are currently filled with more barricades, scaffolding and lift trucks than one can (almost) imagine. And congestion should soon reach nearly unprecedented levels.

Bring it on! Yes, there are going to be a few inconveniences associated with Indianapolis hosting Super Bowl XLVI. But that’s like a tiny, temporary pimple on the face of the most beautiful woman or handsome man in the world. (OK, I struggled with that analogy, but you get the picture).

The attention of the nation and world will be focused on our city and state on Super Sunday and the days preceding it. Hoosiers should embrace the moment — and enjoy it. Most out-of-town guests will not arrive until February 2 or so; the first few days (starting Friday) are an opportunity for all of us to take part in what could be a once-in-a-lifetime experience.

You can check out all the Super Bowl details for yourself. But as information continues to become available on the wide variety of concerts, programs, events, special activities, etc., I am convinced (in a purposeful mixing of metaphors) that we’re going to hit a home run. Indianapolis and Indiana are going to simply wow the National Football League, the fans, other visitors and anyone who is paying attention.

Once-in-a-lifetime may turn into a repeat performance a few years down the road. But don’t miss out this time around. And I close with practicing my closing line during my volunteer interactions with guests: Have a Super Day!

Inside INdiana Business reports on how Indianapolis is looking to capitalize on the upcoming Super Bowl long after the game ends:

The head of the Indianapolis Convention & Visitors Association believes the city has a real opportunity to increase business after the Super Bowl. Association Chief Executive Officer Leonard Hoops says it’s important to make a great impression on corporate decision-makers who will be in the town for the game. During an interview set to air this weekend on Inside INdiana Business Television, Hoops also says the ICVA faces a challenge to fill additional hotel space once the Super Bowl is long gone. Watch video.