News & Analysis

Program preps students to teach at high-need schools

July 7, 2014
Associated Press
Forty-five Woodrow Wilson Teaching Fellows received incentives to attend cutting-edge master's degree programs at Ball State, IUPUI, Purdue University, the University of Indianapolis and Valparaiso University.
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Web startup Bookit planning expansion

July 7, 2014
Dan Human
Bookit Commerce Inc., which operates the website bookacoach.com, plans to hire 93 people by 2018, the locally based company announced Monday morning.
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ITT Educational, rivals wrestle with tougher regulation

July 7, 2014
Bloomberg News
The U.S. Education Department has taken its toughest regulatory action ever against a for-profit college: putting Corinthian Colleges Inc., with more than 70,000 students, on the path to going out of business.
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MISO data breach latest in hackers’ efforts to reach power grid

July 6, 2014
Bloomberg News
Operating cost data from participants in Carmel-based MISO's power network was compromised in a computer breach that highlighted the rising vulnerability of the U.S. electricity infrastructure.
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Small colleges using lacrosse to attract monied students from East CoastRestricted Content

July 5, 2014
Anthony Schoettle
Finances are increasingly challenging for small, private schools, causing many to do whatever is necessary to attract students, particularly students who can afford tuition ranging from $25,000 to $45,000 annually.
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Tricky transition: Pillows balance family, business as son preps to take over

July 5, 2014
Dan Human
Even before taking over, Eddie Pillow is making changes at the logistics and courier company his dad started in 1988.
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Records - July 7, 2014Restricted Content

July 5, 2014
Records listings from the July 7, 2014, issue of IBJ.
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Milhaus starts project in Oklahoma CityRestricted Content

July 5, 2014
The $42 million project is Milhaus' second mixed-use project outside the Indianapolis area.
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Tech firms get chance to pitch investorsRestricted Content

July 5, 2014
Seventy-six startups and small tech companies will vie for investors’ interest July 10 at the Innovation Showcase.
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Airport memorial planned for Col. Harvey “Weir” CookRestricted Content

July 5, 2014
An Indiana native, Cook was a decorated fighter pilot in World War I who settled in Indianapolis and was instrumental in creating the city’s first principal airport, Indianapolis Municipal Airport, opened in 1931.
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Ambrose snags vacancy-plagued Meridian Street property

July 5, 2014
Scott Olson
Ambrose Property Group Inc. is doubling down on the struggling downtown office market by purchasing its second property within six months.
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Ex-Hoosier funnels millions back home to local tech firms

July 5, 2014
Dan Human
West Coast investor Parker Hinshaw and his wife, Jean Balgrosky, in 2012 founded San Diego investment firm Bootstrap Incubation LLC and in 2013 the Bootstrap Venture Fund, which have funded three Indiana companies in less than a year. A fourth deal is about to close.
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State sits on prime downtown property near Statehouse

July 5, 2014
Kathleen McLaughlin
Three locally based firms responded to a state request for private-sector parking management, plus the construction of new spaces, by proposing mixed-use buildings for a 3.2-acre lot north of the Statehouse, according to response documents made public late last month.
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Indy Chamber fights shrinking membershipRestricted Content

July 5, 2014
Kathleen McLaughlin
The chamber has lost 19 percent of its members since the start of 2011, even while other chambers of commerce around the country see renewal rates recovering along with the economy.
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Obamacare generates windfall for insurersRestricted Content

July 5, 2014
J.K. Wall
Obamacare’s tax credits are pumping nearly $400 million into the coffers of health insurers in Indiana this year, according to data released by the federal government and the insurance companies.
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Latest plan for natatorium includes IUPUI expansion

July 3, 2014
Kathleen McLaughlin
The city of Indianapolis, IUPUI and Lilly Endowment are preparing to unveil a broad plan for the west end of downtown and Haughville.
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Express Scripts cuts payments for customized drugs

July 3, 2014
Associated Press
The nation's largest pharmacy benefit manager, Express Scripts, is dramatically scaling back its coverage of compounded medications, saying most of the custom-mixed medicines are ineffective or overpriced.
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Dow Jones index tops 17,000 after strong jobs report

July 3, 2014
Bloomberg News
The Dow Jones industrial average climbed above 17,000 for the first time ever Thursday morning. The Standard & Poor’s 500 also hit an all-time high.
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Plant shutdown date sparks fight between IPL, grid operator

July 3, 2014
Dan Human
Indianapolis Power & Light Co. says it might have to pay as much as $22 million in extra costs because of contract issues with the Midwest Independent System Operator.
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IU students get more information, borrow less

July 3, 2014
Bloomberg News
A simple letter from Indiana University led its students to reduce borrowing by far more than the national average last academic year. Federal undergraduate Stafford loan disbursements at the university dropped 11 percent, or $31 million.
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U.S. employment rises more than expected

July 3, 2014
Bloomberg News
Employers added more workers than projected in June and the unemployment rate fell to an almost six-year low of 6.1 percent, Labor Department figures showed Thursday.
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Afghanistan subcontractor cheated workers, suit says

July 3, 2014
Associated Press
Federal investigators are examining whether a military subcontractor from Indiana underpaid scores of medical workers in Afghanistan, pocketing federal funds that the government intended the company use to pay its employees.
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Telemon unit acquires automotive manufacturer

July 2, 2014
 IBJ Staff
Westbrook Mfg., founded in 1977, makes electro-mechanical assemblies and wiring harnesses for the automotive industry at its manufacturing plant in Fresnillo, Mexico. The company has about 400 workers.
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Book publisher plans 313 distribution jobs in Indiana

July 2, 2014
 IBJ Staff
Penguin Random House LLC, the world's largest consumer book publisher, plans to consolidate much of its U.S. distribution operations in Crawfordsville, the company announced Wednesday morning.
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CNO upgraded by S&P after divesting insurance unit

July 2, 2014
 Bloomberg News and IBJ Staff
CNO Financial Group Inc. was upgraded by Standard & Poor’s after the Carmel-based company completed the sale of a life insurance unit that was no longer issuing policies.
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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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