Business professor Richard Whitaker will not downplay the economic times in the United States.

“We are in a chaotic time in history for financial and economic places,” Whitaker said. “So, this panel is here to provide opportunity to hear what’s going on and the effect on reality.”

The School of Business and Business Solutions Center will host the panel discussion, “Wall Street Bailout/Main Street Fallout,” from 5 to 6:30 p.m. today in the Lumpkin Hall Auditorium.

Other panelist include business professionals such as Jack Schultz, chief executive of the Agracel industrial development firm in Effingham, Brian Titus, general manager of Lorenz Supply in Mattoon, Dan Downs, president of First Neighbor Bank in Charleston and Chuck LeFebvre, vice president of First Mid-Illinois Bank and Trust.

“We have more diverse cross sectors of the panels, so we represent academic side, but we want to hear from business leaders and hear from affected owners and their market place,” Whitaker said.

Whitaker said everyone hears about this current situation, but may not understand it all.

“This impacts the real economy, so we want to hear from those who the real economy impacts,” Whitaker said.

Whitaker said there would be several questions that will be discussed that will allow business owners to learn and address questions they may have.

“This is a significant event in the last 75 years since the Great Depression,” Whitaker said. “This is worldwide, and happening essentially in all countries.”

He said this happened from the financial sector and led to an economic effect.

Whitaker said this is the reality because it is not only hurting the government; it is affecting people who are losing jobs.

Jeanne Dau, director of the Business Solutions Center, said the panelists would discuss issues relating to business issues, loans and how to invest.

Some questions will be pre-planned and other questions can be asked from the audience members.

Advice will be sought from the professionals about small and large business owners and when they think the market will be stabilized.

Other questions for bankers include what kind of criteria will be looked for when dispersing a loan.

“Our goal is to get permanent and timely information to the people who need it, which are our businesses in Charleston, and it is a good learning experience for people here at Eastern,” Dau said.

Dau stated they wanted this panel discussion to happen immediately.

“We wanted to be timely, so we put this together within two weeks,” Dau said.

She and Cheryl Noll, the interim chair of the School of Business, decided to get a group of professionals from Eastern and from the local area to discuss these issues that currently affect everyone.

Brittni Garcia can be reached at 581-7942 or at bmgarcia@eiu.edu.