AP News

Pence picks Indiana legislator as running mate

May 21, 2012
Associated Press
Republican Mike Pence has picked first-term state Rep. Sue Ellspermann as his running mate in his campaign to become Indiana's next governor.
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Indiana prison education cuts cost Ball State jobs

May 21, 2012
Associated Press
A new law denying state grants for college education to prison inmates has cost the jobs of more than 70 Ball State University employees.
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Indiana casinos face falling revenue, new competition

May 20, 2012
Associated Press
Indiana's nearly 20-year-old casino industry is facing declining revenues and growing out-of-state competition, prompting lawmakers to consider what, if any, regulatory changes might be able to stem the tide.
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Shares of Facebook stall after company's record IPO

May 18, 2012
Bloomberg News
Facebook sold 421million shares to raise $16 billion, giving the company a $104 billion market value. After the debut, underwriters bought the stock to keep it from falling below the IPO price.
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Once an Obama coup, Indiana less a battleground

May 18, 2012
Associated Press
Barack Obama was the first Democrat in 44 years to win Indiana in the 2008 presidential race. A repeat seems doubtful this year.
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Pence set to announce running-mate pick

May 18, 2012
Associated Press
Republican Mike Pence's campaign said Friday he will announce his running mate in his campaign for Indiana governor on Monday.
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Kids to sell lemonade at the Indiana Statehouse

May 18, 2012
Associated Press
More than 15,000 young people from pre-school age through high school will open lemonade stands across the greater Indianapolis area this weekend.
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Big Ten Network cuts academics, citing low ratings

May 17, 2012
Associated Press
The Big Ten cable network has been an unchallenged success promoting conference sports to a national audience and making money for its members.
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U.S. jobless claims hold steady for second straight week

May 17, 2012
Associated Press
The number of people seeking unemployment benefits was unchanged last week, suggesting some gains in the job market.
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Indiana issues call for external audit of tax agency

May 17, 2012
Associated Press
Indiana budget leaders are looking for an external auditor to review the state Department of Revenue after workers discovered $526 million in errors in recent months.
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Pacers' Bird named NBA's executive of the year

May 17, 2012
Associated Press
Indiana Pacers President Larry Bird was voted National Basketball Association Executive of the Year on Wednesday, becoming the first person to win the award after also receiving the league's MVP and Coach of the Year honors.
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Indiana lottery seeking ideas from private firms

May 16, 2012
Associated Press
The Indiana State Lottery Commission endorsed a plan Wednesday to seek out private companies to take over some operations of the Hoosier Lottery, a state agency whose income has shrunk in recent years.
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Subaru to add 100 jobs as part of $75 million expansion

May 16, 2012
 IBJ Staff
Subaru already employs 3,600 at its Lafayette facility, with 600 workers added in the past three years. The expansion will ramp up production from nearly 171,000 cars a year to at least 180,000.
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Judge says lawsuit can proceed against for-profit educator

May 15, 2012
Associated Press
A federal judge has ruled that a lawsuit can proceed against a large for-profit education company accused of using improper sales tactics to lure unqualified students and the billions of dollars in financial aid they bring. The company has two colleges in Indianapolis.
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Unemployment tax repayment causes confusion

May 15, 2012
Associated Press
Indiana's plan to balance an unemployment insurance fund hit hard during the recession might have caused businesses to pay more than they owed, although no one seems to know how many companies were involved or the level of impact it had on them.
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Acting Indiana chief justice Dickson picked to head court

May 15, 2012
Associated Press
The Indiana Judicial Nominating Commission voted Tuesday to make Brent Dickson the state's first new chief justice in 25 years.
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Feds say wiretaps show evidence of financial plot

May 15, 2012
Associated Press
A federal judge in Indianapolis refused to throw out wiretap evidence in the $200 million fraud trial of former Indiana businessman Tim Durham as the government outlined a case largely based on those recordings.
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Bicycle advocacy group urges riding to work Friday

May 14, 2012
Associated Press
Motorists in central Indiana should expect to share the road with a lot of bicyclists during their morning and afternoon commutes Friday.
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Work on central Indiana wind farm set for this summer

May 14, 2012
 IBJ Staff and Associated Press
A company planning to build a wind farm spread across four central Indiana counties north of Indianapolis says it has obtained 125 building permits for the project's first phase.
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Indiana governor hopefuls detail ideas for job growth

May 12, 2012
Associated Press
Republican Mike Pence, Democrat John Gregg and Libertarian Rupert Boneham each say job creation would be "job one" if elected governor. But their means to reaching employment goals vary from dispatching missionary-style investment gurus, to growing more hemp and bamboo, to increasing wind-turbine manufacturing in the state.
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JPMorgan Chase takes fire for 'hedge,' $2 billion loss

May 12, 2012
Associated Press
More than three years after the financial industry almost collapsed, the colossal misfire has been cited as proof that big banks still do not understand the threats posed by their own speculation.
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Indiana delegation could see gender shakeup

May 11, 2012
Associated Press
Indiana has had only five female members of Congress in its history, none at the same time, and is currently among 16 states without a female serving in either the House or Senate. That could change this fall, though.
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Purdue looks to new clinic to cut health costs

May 11, 2012
Associated Press
Purdue University's trustees approved plans Friday for a new campus medical clinic that administrators expect eventually will cut the school's health care costs for employees and their families.
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Indy art museum receives grant for Miller House

May 11, 2012
Associated Press
The Indianapolis Museum of Art has received a grant to digitize, catalog, and put online a collection of materials about a 1957 modernist-style home in Columbus designed by famed architect Eero Saarinen.
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Indiana State Fair makes management changes

May 10, 2012
Associated Press
The Indiana State Fair has hired a chief operating officer and a director of safety and security as part of management changes spurred by last summer's deadly stage-rigging collapse.
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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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