News brief

Production company to donate PSARestricted Content

June 22, 2009
 IBJ Staff
Bennett Innovation is celebrating its 25th year by giving away $25,000 in services to a worthy not-for-profit.
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Profs trying to revolutionize drug discovery processRestricted Content

June 22, 2009
 IBJ Staff
Two chemistry professors at IUPUI are laboring to create the McDonald's of research laboratories—a model that's low-cost and can spread around the world.
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Tony Stewart Foundation signs local public relations agencyRestricted Content

June 22, 2009
 IBJ Staff
Bonneau Production Services will work with the foundation's executive director in a range of areas, including corporate-identity creation, e-newsletter publication, Web-site design and maintenance, and media relations.
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Planned Parenthood promotes health services for menRestricted Content

June 22, 2009
 IBJ Staff
Planned Parenthood of Indiana has launched a campaign to capitalize on the small but growing number of men who use its 34 health centers around the state.
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Brenwick Realty merges with Keller Williams RealtyRestricted Content

June 22, 2009
 IBJ Staff
The merger will give Keller Williams, which entered the local market five years ago, a foothold in Hamilton County, where Brenwick Realty has been responsible for selling property in Village of WestClay.
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IRL signs two new sponsorsRestricted Content

June 22, 2009
 IBJ Staff
California-based DB Schenker is the official freight logistics sponsor of the IRL, and South Carolina-based Kymco USA is the official scooter and off-road utility vehicle of the IRL and Firestone Indy Lights.
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Franklin ban snuffs out smokingRestricted Content

May 11, 2009
Tavern owners in Franklin will mothball their ashtrays next month following the passage of a smoking ban May 4. City councilors voted 6-1 to make the ban one of the most restrictive in the state.
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IRL sees progress in TV ratingsRestricted Content

April 27, 2009
The Grand Prix at Long Beach April 19 scored a 0.5 TV rating for the Indy Racing League, according to New York-based Nielsen Media Research. That's the same rating the race earned last year on ESPN 2 when it was the swan song for CART.
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Colts, Pacers or Indians ticket stumbles would trip up Kenley planRestricted Content

April 13, 2009
Peter Schnitzler, Anthony Schoettle

Sen. Luke Kenley's CIB bailout plan counts on the Indianapolis Colts to keep up their sellout streak, and assumes the Indiana Pacers and Indianapolis Indians will maintain at least their current popularity.

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Ballard trip to explore clean energyRestricted Content

April 6, 2009
Indianapolis Mayor Greg Ballard and other city officials will travel to Brazil in May to explore renewable-energy production, in hopes of making the city a leader in the technology.
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Franchisors also feel recession's financial pinchRestricted Content

March 30, 2009
Peter Schnitzler
About two dozen franchises based in Indiana are not immune to difficulties during the recession.
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Few private firms survive to third generationRestricted Content

March 30, 2009
Cory Schouten
The Gene B. Glick Co. has managed to accomplish what few privately held family enterprises can—keeping the company alive for a third generation.
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Beats the landfill: Staff disassembled seats for recyclingRestricted Content

March 9, 2009
Sam Stall
The staff of the Indianapolis Museum of Art decided to recycle the parts of old theater seats to prevent them from being unloaded in a landfill.
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CIB's influence has grown with city's sports sceneRestricted Content

February 9, 2009
Peter Schnitzler
State lawmakers formed the Capital Improvement Board in 1965 to oversee construction of the city's convention center.
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HHGregg vying to win customers of Circuit CityRestricted Content

February 9, 2009
Scott Olson
Company officials think HHGregg is well-positioned to fill the void that Circuit City Stores Inc. will leave when its stores are closed.
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Airport board adds membersRestricted Content

January 26, 2009
The Indianapolis Airport Authority has tapped three prominent leaders to fill expiring terms of three board members.
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Local ad club chooses new nameRestricted Content

January 26, 2009
AdClub Indianapolis, one of the oldest local chapters of the American Advertising Federation, is taking on a new name. The new moniker—AAF Indianapolis—reinforces the professional group's tie to its parent organization, and will enhance branding on a local, regional and national level.
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Podcast expert recognizes Eiteljorg's 'EM Radio'Restricted Content

January 26, 2009
Schoolteachers are discovering that a museum field trip isn't the only way to expose their students to Native American and frontier culture. More of them are downloading podcasts produced by the Eiteljorg Museum of American Indian and Western Art.
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Martin University needs cashRestricted Content

January 26, 2009
Martin University needs to raise $1.26 million to restore its campus from December flooding caused by a burst pipe—in addition to $1 million the predominantly black school was already trying to raise in order to shore up its fragile finances.
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Dome roof finds new lifeRestricted Content

January 26, 2009
The salvage operation surrounding the old RCA Dome's fabric roof has taken on a life of its own. Portions of the 13-acres of Teflon-coated dome material saved when the stadium was demolished is going to a variety of uses, including Dome Bags, a line of purses and wallets.
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Penn Arts redevelopment hits funding snagRestricted Content

January 26, 2009
The Penn Arts apartment building at 16th and Meridian streets will stay vacant a while longer. A $3 million plan to transform the 82-unit apartment building into 45 fancier units has hit a snag that's become familiar to developers: No financing was available at advantageous terms
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IRL, Hot Wheels work on dealRestricted Content

January 26, 2009
Indy Racing League officials are finalizing a deal with Mattel's Hot Wheels to roll out a line of replica open-wheel cars this spring.
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Baker Hill founder chairs TechPointRestricted Content

January 26, 2009
Mark Hill, the co-founder of Carmel-based banking software company Baker Hill, has been named chairman of the state's technology trade group, TechPoint.
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Slow M&A activity predicted by KPMGRestricted Content

January 26, 2009
Mergers and acquisitions are unlikely to rebound before the last quarter of this year, international accounting firm KPMG International said.
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BankruptciesRestricted Content

January 26, 2009
Gideon's Gate Inc., Indianapolis, Chapter 11 reorganization
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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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