Government & Economic Development

Determining jobless rate far from exact science

December 4, 2011
Associated Press
The key number used nationally to determine just how deep the problem is, the unemployment rate, is the subject of its own debate.
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Indiana communities run into higher salt prices

December 4, 2011
Associated Press
Communities across Indiana could have less money to pave roads and fill potholes because of rising road salt costs.
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Kokomo upshifting with Chrysler investmentRestricted Content

December 3, 2011
Kathleen McLaughlin
City north of Indianapolis feels the power of $1.3 billion upgrade of equipment in automaker's transmission plants.
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'Buy local' law to be tweakedRestricted Content

December 3, 2011
 IBJ Staff
New requirement that local governments hire local bidders came under fire.
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Indianapolis courts Chicago Mercantile Exchange

December 2, 2011
 IBJ Staff and Associated Press
Indianapolis' mayor has met with top executives of the Chicago Mercantile Exchange to discuss bringing the 163-year-old financial market to Indiana's largest city. A move would mean hundreds of jobs for Indianapolis.
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Lugar: Obama failing on Brazil trade, cedes clout to China

December 2, 2011
Bloomberg News
The top Republican on the Senate Foreign Relations Committee said President Barack Obama is missing opportunities to strike closer ties with Brazil, allowing China to steal market share from U.S. companies in Latin America’s biggest economy.
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Indiana lawmakers want cursive mandatory in schools

December 1, 2011
Associated Press
Terre Haute Sen. Tim Skinner and Oldenburg Sen. Jean Leising said they plan to submit bills when lawmakers return to Indianapolis in 2012 that would require the writing style be taught.
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Ex-aide running for Indiana seat Pence is giving up

December 1, 2011
Associated Press
Andrew Phipps, a former aide to Republican Rep. Mike Pence, is joining the field for the congressional seat that Pence is giving up to run for governor.
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Plowman receives 40-month federal sentence

December 1, 2011
Scott Olson
A federal judge on Thursday afternoon sentenced former City-County Councilor Lincoln Plowman to 40 months in prison for attempted extortion and bribery.
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Prosecutors recommend 6-1/2 years for Plowman

December 1, 2011
Scott Olson
The former City-County Councilor, convicted in September on federal bribery and attempted extortion charges, is scheduled to be sentenced Thursday afternoon.
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Food company closing in Indiana has unpaid bills

December 1, 2011
Associated Press
An organic food company that is closing its eastern Indiana preparation center was offered up to $3.5 million in state tax credits to open its plant, but it owes more than $31,000 in property taxes and sewer bills.
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GOP governors group names Daniels policy chairman

November 30, 2011
Associated Press
Daniels' policies have frequently been emulated by other Republican governors including Wisconsin' Scott Walker and Ohio's John Kasich.
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Indiana Republicans push drug tests for welfare money

November 30, 2011
Associated Press
Two Indiana Republicans want welfare recipients to pass drug tests before they can receive benefits but similar measures have run up against Fourth Amendment protections against unreasonable search and seizure.
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After hiking taxes, Illinois now considers easing them

November 30, 2011
Associated Press
Less than a year after raising personal and corporate income taxes, Illinois officials are pushing a $250 million package of tax breaks for several prominent businesses threatening to leave for more tax-friendly states, including Indiana.
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LEADING QUESTIONS: Council prez takes 11th-hour run at ban, redistricting

November 30, 2011
Mason King
LQ_Vaughn_watch VideoWhy is Ryan Vaughn ending his tenure as City-County Council president with two hot-button proposals? Can he get the votes for a stronger smoking ban? How does he react to a call for his removal?
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Bond banks in Indiana, other states boost sales

November 30, 2011
 IBJ Staff and Bloomberg News
State municipal-bond banks in Indiana, Vermont, Maine and New Hampshire plan to issue about $190 million in debt this week, as smaller communities seek to take advantage of 10-year interest rates near a six-week low.
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Commission slaps judge over fundraising solicitation

November 30, 2011
Michael W. Hoskins
Judge Rebekah Pierson-Treacy received the admonishment after an August fundraising solicitation sparked controversy.
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States suing over health care law collect funding

November 29, 2011
Associated Press
Federal officials announced Tuesday they are awarding more money to help states carry out President Barack Obama's health care overhaul. Seven states that are suing to overturn the landmark law are also on the list for funding.
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Indiana retailers making push for online sales tax

November 29, 2011
Associated Press
A new coalition of Indiana retailers is planning a lobbying push aimed at convincing state lawmakers to force online businesses to collect the state's 7-percent sales taxes from customers.
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Feds reject Indiana request for health care exemption

November 28, 2011
Associated Press
The U.S. Department of Health and Human Services on Monday rejected Indiana's bid for an exemption from federal health care overhaul rules that require insurers selling policies to individuals to essentially dedicate 80 percent of the premiums they collect to medical care.
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SEC accuses Positron CEO of misleading investors

November 28, 2011
Chris O'Malley
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors' knowledge.
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JONES: Patent reform is mixed bag for life sciences companiesRestricted Content

November 26, 2011
Kristin Jones / Special to IBJ
For Indiana's life sciences sector, the change both raises hopes and creates challenges for continued growth.
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Develop Indy and partner will focus on small business supportRestricted Content

November 26, 2011
 IBJ Staff
Business Ownership Initiative of Central Indiana focuses on one-on-one counseling, capital access.
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Judge allows class in suit against state tort law

November 23, 2011
Associated Press
U.S. District Judge Sarah Evans Barker has certified the victims of the Indiana State Fair stage collapse as a single class in a lawsuit challenging a law that caps the state's liability at $5 million. However, she concluded the plaintiffs are unlikely to win the challenge.
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Study: State loses millions annually in online sales taxes

November 22, 2011
Scott Olson
The report from the Indiana Fiscal Policy Institute says the state loses $40 million to $114 million every year in sales tax revenue from sales to online retailers such as Amazon.
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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

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