EDITORIAL: Our wish list for next year

 IBJ Staff
December 25, 2010
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IBJ Editorial

We don’t expect all our holiday wishes for the New Year to come true. We’re not that naïve. But in this season of hope, we’d like to offer these familiar refrains—and end with some proof that dreams do, sometimes, come true. First, our wishes:

• For Eli Lilly and Co., a blockbuster drug. A collection of new drugs that generate healthy sales is more likely. The company needs to replace billions in revenue it will lose when key patents expire in 2011 and 2013.

• For Simon Property Group, a willing target. The nation’s largest shopping mall owner has cash to spend on a company that would add to its bottom line, but consummating an acquisition has been a challenge.

• For Hoosiers everywhere, a comprehensive workplace smoking ban. The dangers of secondhand smoke are well-known. The benefits of a ban are obvious. Give bar owners a level playing field and the addicted a new incentive to quit.

• For our children, well-funded schools where the best teachers are properly rewarded. And as the debate over education policy grows louder, here’s a wish for rhetoric that makes one point perfectly clear: Parents are ultimately responsible for the education of their children.

• For our state and its legislators, a truce on social issues. Such issues demonize our fellow citizens, take time away from the most pressing issues, and poison the well of cooperation and compromise that is the source of good government.

• For our health, walkable cities and towns that are designed for people first, cars second. And continued momentum for public transportation.

• For Indiana’s fiscal health and for accountability in local government, reform that sweeps away expensive, outdated layers of bureaucracy and officials who are unknown to those they claim to serve.

That brings us to a few success stories—proof that, with lots of hard work, good things can happen on a grand scale.

• In a country and an economy where states are drowning in red ink, Indiana is in the black. Staying there will be a challenge, but it will be simpler than climbing out of a deep hole.

• Our city has become a hotbed for software-marketing firms—ExactTarget, for example, and Aprimo, whose recent sale will generate cash we hope will be plowed back into the local tech community. The energy from this sector is building a culture of youthful entrepreneurship here, making the city a magnet for talent and investment.

• The Indianapolis Cultural Trail gives us a unique asset that other cities envy. Project for Public Spaces, a 35-year-old New York-based organization that promotes the creation of sustainable communities, recently named the trail one of five success stories that should inspire cities around the globe. The other success stories were in Hong Kong; Bogota, Colombia; Melbourne, Australia; and Zurich, Switzerland. Such recognition sends a signal that progress and creativity live here.

These achievements are worth celebrating as we look forward to a productive and prosperous 2011.•


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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing