News & Analysis

Site chosen for proposed Westfield sports complex

September 28, 2010
Anthony Schoettle
The Hamilton County sports and recreation campus—known as the "Family Sports Capital of America"—is expected to occupy 300 acres and cost millions to fully develop.
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Colts may look to sell souvenirs through vending machines

September 28, 2010
Anthony Schoettle
Locally based MainGate is testing the new NFL merchandise sales technique in Minnesota. Indianapolis could be next.
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Local firm lands $50 million Coast Guard account

September 28, 2010
Anthony Schoettle
Indianapolis-based technology firm Communications Products Inc. scores its second big government contract in nine months.
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Rehab hospital shakes up leadership

September 28, 2010
J.K. Wall
The CEO is on his way out and the board has been dissolved at Rehabilitation Hospital of Indiana, as its owners—Clarian Health and St. Vincent Health—work to pull the hospital closer to their own operations.
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Developer of senior housing buys big tract near Zionsville

September 28, 2010
Tom Harton
Baptist Homes of Indiana Inc. closed Sept. 17 on 159 acres that encircle the Golf Club of Indiana.
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Colts' Polian: NFL 18-game season is done deal

September 27, 2010
Associated Press
During Monday night's weekly radio show, the Indianapolis Colts team president called expanding the schedule by two games "fait accompli," and said the debate is over.
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UAW rejects pay cuts; local GM plant could close

September 27, 2010
Kathleen McLaughlin
Union employees at General Motors' Indianapolis metal-stamping plant have overwhelmingly rejected a proposed pay cut that would have kept the facility open.
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Cook stent could prevent more amputations, study finds

September 27, 2010
Bloomberg News
A drug-coated stent from Indiana-based Cook Medical was more effective than standard therapy for patients with blockages in an upper-leg artery, a study found.
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Smart gets his first shot as NBA head coach

September 27, 2010
Bloomberg News
Hoosier basketball legend Keith Smart was appointed by the Golden State Warriors to replace Don Nelson, the head coach with the most victories in NBA history.
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BPG sells trio of Keystone Crossing buildings

September 27, 2010
An affiliate of Pittsburgh-based PWA Real Estate LLC snapped up the three buildings for $15.5 million. The largest totals more than 100,000 square feet and houses such tenants as General Casualty Co., 20/20 Institute and M/I Homes.
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Dolce hotel, YMCA part of city-funded 'North of South' development

September 27, 2010
Scott Olson
The city plans to issue bonds and use tax-increment financing to fund the $150M project, which also will include 320 high-end apartments and 40,000 square feet of retail space. Construction should begin this year.
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Art museum replaces gallery guards with students

September 27, 2010
Kathleen McLaughlin
The Indianapolis Museum of Art fired 56 gallery attendants Monday morning and will replace them with 100 IUPUI students on a federal work-study program. IMA also will employ 14 reserve police officers to patrol its campus.
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Southwest Airlines to buy AirTran for $1.4B

September 27, 2010
 IBJ Staff and Associated Press
Dallas-based Southwest Airlines would bump Delta Air Lines from top carrier spot at Indianapolis International Airport when it acquires Orlando-based-based AirTran in a deal announced Monday. Southwest/AirTran would have about 33 percent of the Indianapolis market, airport officials said.
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$150M 'North of South' project moving ahead

September 27, 2010
 IBJ Staff
Officials are announcing details of an ambitious downtown development planned for 10 acres Eli Lilly and Co. owns near its Indianapolis headquarters. The project will include a hotel, apartments, restaurants and retail space and a YMCA.
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Raytheon's local plant lands $42M Navy order

September 27, 2010
 IBJ Staff
Raytheon Technical Services Co. in Indianapolis has scored a $42 million contract to make forward-looking infrared sensors for the U.S. Air Force’s HH-60G helicopter, the Department of Defense said late last week.
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REITs use stock sales to grow after paying debt

September 26, 2010
Bloomberg News
U.S. real estate investment trusts, including Indianapolis-based Duke Realty Corp., are selling shares to fund property acquisitions after using record cash from equity offerings last year to reduce debt and cover dividends.
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Report: Indiana infrastructure needs billions in work

September 26, 2010
Associated Press
The report by the Indiana section of the American Society of Civil Engineers gave Indiana a D+ in its first report card on the state's infrastructure. That's slightly better than the D grade given nationally.
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INDOT lays off 30 employees in budget move

September 26, 2010
Associated Press
Gov. Mitch Daniels said the layoffs were "one of the very, very few involuntary reductions" that Indiana government has had to make to cut spending.
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Instability takes toll at WRTV

September 25, 2010
Marc D. Allan
WRTV-TV Channel 6's viewer ratings remain mired in third place during most newscasts after years of anchor turnover. The station has a lot of work to do to re-establish the strong identity it had in the 1990s.
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Tax caps spread relief aroundRestricted Content

September 25, 2010
Francesca Jarosz
Property tax caps—promoted as a way to relieve homeowners from skyrocketing property tax bills—have provided much more relief to a different group of taxpayers. Owners of rental properties and second homes got the lion’s share of assistance from the caps.
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Tired-but-proud school buildings find new missions

September 25, 2010
Chris O'Malley
More unneeded buildings are slated to be sold off by Indianapolis Public Schools, but creative people have turned other former schools into reuse gems.
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Federal courthouse in Indianapolis slated for green roofRestricted Content

September 25, 2010
Scott Olson
Plants atop the Birch Bayh Federal Building and U.S. Courthouse are expected to cut costs in long run.
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Consumer groups call for Duke to cancel Edwardsport project

September 25, 2010
Chris O'Malley
A proposed settlement between the utility and industrial customers would temporarily cap the cost of the plant, which is $1 billion more than initial estimates.
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Plastic surgery firm hit with surveillance litigationRestricted Content

September 25, 2010
Cory Schouten
Former employees say Meridian Plastic Surgery Center violated their rights when it secretly recorded them in various states of undress.
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Veteran local ad exec Pearson lands on his feet after closing firmRestricted Content

September 25, 2010
Anthony Schoettle
After industry "paradigm shift," the man behind some of the city's most memorable campaigns is working for a small agency.
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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

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  5. It is sad to see these races not have a full attendance. The Indy Car races are so much more exciting than Nascar. It seems to me the commenters here are still a little upset with Tony George from a move he made 20 years ago. It was his decision to make, not yours. He lost his position over it. But I believe the problem in all pro sports is the escalating price of admission. In todays economy, people have to pay much more for food and gas. The average fan cannot attend many events anymore. It's gotten priced out of most peoples budgets.

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