News & Analysis

Indiana House OKs amendment banning gay marriage

February 15, 2011
Associated Press
The Republican-controlled House voted 70-26 to advance the proposal, which must clear two separately-elected Legislatures to get on the ballot for a public vote.
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Fair trustee: Durham committed fraud of 'shocking proportions'

February 15, 2011
Greg Andrews
Fair Finance Co.’s bankruptcy trustee alleges Tim Durham perpetrated a fraud of  "shocking proportions,” draining huge sums from the Akron, Ohio, firm for years to mask that his business empire had collapsed.
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Booster groups Indy Partnership, Develop Indy to merge

February 15, 2011
Cory Schouten
Local economic development groups Indy Partnership and Develop Indy plan to combine operations to save money and more effectively pitch the city and region to potential job creators.
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Logistics provider cutting 76 jobs in Brownsburg

February 15, 2011
Pittsburgh-based Genco ATC is vacating its Brownsburg facility after failing to receive the contract to operate the warehouse at 901 Northfield Drive.
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Business Ownership Initiative hires executive director

February 15, 2011
Sean Morrison
Julie Grice, a 10-year veteran of the Greater Indianapolis Chamber of Commerce and former business owner, began her tenure as executive director of the not-for-profit Business Ownership Initiative of Indiana on Sunday.
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Fair Finance trustee sues Indy attorney for $375,000

February 15, 2011
Greg Andrews
The loan from Fair Finance Co. to Stephen and Linda Plopper matured in 2006, but the couple has failed to satisfy the debt despite recent demands for payment, the suit alleges.
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Parking meter replacement set to begin in March

February 15, 2011
Scott Olson
Affiliated Computer Services, which struck a deal late last year to manage the city's parking meters, will begin replacing meters in downtown Indianapolis and Broad Ripple early next month.
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Senate committee passes sentencing-reform bill

February 15, 2011
Associated Press
An Indiana Senate committee has passed a plan that would keep violent felons in prison longer and reduce punishments for many thefts and drug crimes.
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DeVry Inc. plans to open local nursing school

February 15, 2011
The for-profit school would lease 24,000 square feet at its Keystone Crossing campus and employ 55 people in its nursing program at an average wage of $28.85 an hour. DeVry is requesting property-tax abatement to offset investment costs.
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Indiana launches $250K ad blitz for Illinois businesses

February 15, 2011
Associated Press
State and local officials in northwest Indiana are investing $250,000 in billboards and television and print ads will appear across Illinois and target that state's personal and corporate tax increases.
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Whitsett proposes 86-unit downtown apartment project

February 15, 2011
Tom Harton
The $7.2 million project, to be financed with affordable-housing tax credits, involves retrofitting the three-story former Central Restaurant Products building to accommodate one- and two-bedroom apartments.
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New York Stock Exchange parent to be acquired

February 15, 2011
Associated Press
The parent company of the New York Stock Exchange says it has agreed to combine with the operator of the Frankfurt stock exchange, Deutsche Boerse.
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Retail sales rise again despite severe weather

February 15, 2011
Associated Press
Shoppers pushed retail sales up for a seventh straight month in January, but the increase was the weakest since June.
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Bill would send taxpayer cash to private schools

February 14, 2011
Associated Press
Indiana lawmakers will start the debate Tuesday on the most controversial plank of Gov. Mitch Daniels' sweeping education platform: a plan to use taxpayer money to help parents send their children to private schools
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Vote delayed on Indiana same-sex marriage amendment

February 14, 2011
Associated Press
Resolution sponsor Rep. Eric Turner of Marion said he wouldn't call it for a vote on Monday because some House members who want to support it were absent for the day.
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Former Colts player charged in $1M theft case

February 14, 2011
Associated Press
Former Indianapolis Colts quarterback Art Schlichter, whose NFL career was derailed by a gambling addiction, was charged Monday with stealing more than $1 million from a 68-year-old woman in suburban Columbus, Ohio.
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WXIN-TV general manager leaving for Houston station

February 14, 2011
Scott Olson
Jerry Martin notified staff on Monday that he has accepted a position as general manager of NBC affiliate KPRC-TV. Martin joined Fox59 six years ago and helped the station increase its news coverage.
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Daniels finishes low in weekend straw poll

February 14, 2011
 IBJ Staff and Associated Press
The Indiana governor received just 4 percent of the vote among potential Republican presidential candidates at the Conservative Political Action Conference. But an IUPUI political science professor says the weak showing shouldn't dissuade Daniels' supporters.
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Glick partners on $30M downtown apartment development

February 14, 2011
Cory Schouten
The lead developer on a long-delayed proposal to redevelop the former Bank One Operations Center has landed a powerhouse partner: apartment developer Gene B. Glick Co.
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CIB set to approve parking lot paving bid

February 14, 2011
The Capital Improvement Board will consider a bid for up to $900,000 to pave a gravel parking lot on the former site of Market Square Arena once slated for redevelopment.
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Inspectors find Indiana tobacco sales to minors declining

February 14, 2011
Associated Press
A partnership called the Tobacco Retailer Inspection Program said Monday that sales of tobacco products to teen-agers occurred in less than 4 percent of more than 8,400 inspections.
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Governor keeping quiet on Indiana immigration bill

February 14, 2011
Associated Press
Indiana Gov. Mitch Daniels isn't saying how he feels about a proposal moving in the Legislature that would require police officers in the state to enforce federal immigration laws.
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St. Francis plans $23 million Carmel hospital

February 14, 2011
 IBJ Staff
Franciscan St. Francis Health plans to open a short-stay medical center in Carmel, creating 76 jobs by 2015, the health system announced Monday morning.
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Bosma: Daniels 'hands on' with legislators

February 13, 2011
Associated Press
The leader of the Indiana House says the governor stays in contact with legislative leaders on his agenda, even as he continues to flirt with a presidential run.
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Aspiring filmmaker scores hit with jewelry ad

February 12, 2011
Anthony Schoettle
A TV commercial for jeweler Reis-Nichols has launched filmmakers Sami Mustaklem and Alex Kosene into the advertising business. Their firm, 3rd Strand, has a growing list of clients seeking their unique storytelling approach.
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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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