News & Analysis

Gas distributors oppose $2.7B Rockport gasification plantRestricted Content

April 2, 2011
Chris O'Malley
Six gas-distribution companies have urged regulators to reject a state plan that would force residential natural-gas customers to effectively subsidize a $2.7 billion coal gasification project proposed for Rockport.
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Indiana manufacturing sector clawing its way backRestricted Content

April 2, 2011
Scott Olson
Factories are adding jobs, but returning to pre-recession levels will be a long slog.
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Trucking industry upswing may draw investors to Allison IPO

April 2, 2011
Kathleen McLaughlin
Allison Transmission is not a household name like Google or General Motors, but it won’t lack an audience for its planned $750 million initial public offering.
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Task force coaxes homeless off downtown streetsRestricted Content

April 2, 2011
Kathleen McLaughlin
An informal collaboration of social workers, police and prosecutors has had early success getting some of the most stubborn homeless people in Indianapolis from downtown streets to shelter or recovery programs.
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Call center orders boost Interactive Intelligence sharesRestricted Content

April 2, 2011
Chris O'Malley
Shares of the call center software firm Interactive Intelligence have nearly tripled, to around $38 from a 52-week low of $14, last August, thanks to a string of larger orders, and to its anticipation of the rise of “communications as a service,” or CaaS.
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Tax breaks for Rolls-Royce hinge on investment, not jobsRestricted Content

April 2, 2011
Francesca Jarosz
City officials’ fear that Rolls-Royce Corp. might pull thousands of jobs out of Indianapolis drove the negotiations that culminated last month with the company’s committing to move 2,500 of its local office employees to the south side of downtown.
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Flexibility eases pain of principal's departure

April 2, 2011
Francesca Jarosz
Carlotta Watch VideoThe abrupt departure of Indianapolis Metropolitan High School's dynamic principal, Carlotta Cooprider, had the potential to deal a major blow to the 430-student charter school. But school administrators, parents and students say the transition was mostly seamless.
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Indy Met Pumas make basketball historyRestricted Content

April 2, 2011
Francesca Jarosz
The Indianapolis Metropolitan High School boys’ basketball team won the Class 1-A state championship, for the first time in the team’s four-year existence.
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Next state budget to spend $117M more on pensions

April 1, 2011
Associated Press
Indiana lawmakers plan to set aside more money in the next two-year budget to help deal with unfunded pension liabilities, but experts warn the amount needed to pay retirees will only grow in the next 15 years.
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INSIDE DISH: St. Elmo stakes out expansion plan

April 1, 2011
Mason King
St Elmo Watch VideoCo-owner Craig Huse's designs to create a 3,000-square-foot bar above the landmark eatery is just another example of Elmo's tradition-based evolution.
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Colleges spend big, lose big on women's basketball

April 1, 2011
Bloomberg News
Across the U.S., the most popular women’s college sport is in the red. Women’s basketball at the 53 public schools in the six largest conferences recorded operating losses last fiscal year of $109.7 million, while the men’s teams reported operating profits of $240 million.
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U.S. unemployment rate falls to two-year low

April 1, 2011
Associated Press
The nation added 216,000 jobs last month, with private employers adding more than 200,000 jobs for a second straight month. However, a big factor in the lower jobless rate is that many people who stopped looking for jobs still aren't looking for one.
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Hinkle Fieldhouse slated for $25 million restoration

April 1, 2011
Scott Olson
A capital campaign is under way to fund improvements to the historic arena on the campus of Butler University. Upgrades will include more seating for season-ticket holders and a new scoreboard with video capabilities.
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Organic-food delivery service growing its operations

April 1, 2011
Sean Morrison
Indianapolis-based Green B.E.A.N. Delivery planted a seed here four years ago, and now the organic food-shipping service is cultivating its own 60-acre farm in Sheridan.
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Indiana college to break ground on pharmacy school

April 1, 2011
 IBJ Staff and Associated Press
Northern Indiana's Manchester College plans to begin work this summer on the college's new $18 million pharmacy school.
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Bills would set fall votes for Indiana school boards

April 1, 2011
Associated Press
All school board elections across Indiana would be moved to the November ballot under bills advancing in the state Legislature.
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Scientists question claims in biotech letter

April 1, 2011
Associated Press
The widespread Internet posting of a letter by a retired Purdue University researcher who says he has linked genetically modified corn and soybeans to crop diseases and to abortions and infertility in livestock has raised concern among scientists that the public will believe his unsupported claim is true.
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Democrats skip session while leader discusses fines

March 31, 2011
Associated Press
A House session scheduled for Thursday morning never took place as Democratic leader Pat Bauer Republican leader Brian Bosma discussed fines the Dems received for walking out on their jobs.
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Suit accuses Bank of America of fraud, racketeering

March 31, 2011
Scott Olson
The complaint, filed in Marion Superior Court, follows a similar suit that was dismissed in federal court. Bank of America and its Countrywide unit are accused of using perjured affidavits to foreclose on homes.
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Battery charges dropped against Fair Finance co-owner

March 31, 2011
Cory Schouten
The Hamilton County Prosecutor's Office has dropped domestic battery charges against Fair Finance Co. co-owner Jim Cochran after the alleged victims declined to pursue the case.
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Indy lawyer pays $371,000 to settle Fair Finance lawsuit

March 31, 2011
Greg Andrews
Fair Finance's bankruptcy trustee says attorney Stephen Plopper and his wife are paying the full amount due under a loan that matured in 2006.
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Drugmaker Lilly launches global service program

March 31, 2011
Associated Press
Eli Lilly and Co. is starting a service program that sends employees around the world to help developing communities and learn about other cultures, as the drugmaker looks to international markets.
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Second whistleblower joins suit against Rolls-Royce

March 31, 2011
Associated Press
A second person has joined a lawsuit alleging Rolls-Royce Corp. concealed repeated defects at an Indianapolis aircraft engine plant and fired workers for reporting problems.
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United Way chapters teaming to improve graduation rates

March 31, 2011
Indianapolis Mayor Greg Ballard will participate Thursday morning in a national online meeting as part of an education initiative that hopes to attract 1 million volunteers.
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Indiana House backs GOP state budget plan

March 30, 2011
Associated Press
The Indiana House has approved a Republican-backed state budget plan that would keep overall education funding at current levels while making major shifts in the way money is divvied up among individual school districts.
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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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