News & Analysis

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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Indiana slow to accept federal stimulus helpRestricted Content

September 25, 2010
Mary Dieter
Under political pressure, Gov. Mitch Daniels' administration has come late to the federal stimulus funds game. At best, the state will recover $24 million in reimbursements for money spent by not-for-profit agencies on services to the poor.
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JW Marriott already sold 100,000 rooms

September 25, 2010
Anthony Schoettle
It doesn't open until Feb. 4, but downtown's JW Marriott hotel has already booked 100,000 room nights for 2011—more than any other local hotel—an achievement drawing both praise and concern from others in the hospitality industry.
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East-side residents forge $100M plan to renew neighborhoodRestricted Content

September 25, 2010
Francesca Jarosz
Since 2004, residents and community leaders in the area just east of downtown—including Boner Center chief James Taylor—have raised more than $100 million to improve their neighborhood. The deployment of so many resources to one area is almost unprecedented in Indianapolis.
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Ford laying off 249 at doomed east-side steering plant

September 24, 2010
 IBJ Staff
Ford Motor Co. is continuing the process of shutting down a subsidiary’s east-side steering plant, filing a notice with the state that it intends to lay off 249 employees around Nov. 19.
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Indiana child care agencies protest cost of new rules

September 24, 2010
Associated Press
An effort to shift some foster care costs to the federal government would throw up more red tape and make it harder for caretakers and providers to get services for troubled children, a coalition of child care agencies said Friday.
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Call-center firm plans 600 hires in Lafayette

September 24, 2010
 IBJ Staff
Alorica Inc., headquartered in Chino, Calif., said it will begin hiring customer service representatives, supervisors and other personnel starting next week—fulfilling a pledge it made more than a year ago.
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INSIDE DISH: Sales slacking, Smee's owner seeks solutions

September 24, 2010
Mason King
Smees Watch VideoThe recession, competition and maybe even familiarity have pushed Tim Smeehuyzen's north-side haunt into the red.
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Columbus hospital suing FEMA for $17.1 million

September 24, 2010
Scott Olson
Federal lawsuit, which stems from June 2008 flood that caused $167 million in damages and business income losses, alleges FEMA failed to pay the full amount the hospital is owed in federal funding.
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Durable goods rise outside volatile transportation

September 24, 2010
Associated Press
The overall demand for durable goods fell 1.3 percent in August, the Commerce Department said Friday. But that was pulled down by a significant drop in orders for aircraft.
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Finish Line's second-quarter profit jumps to $16.8M

September 24, 2010
 IBJ Staff and Associated Press
Indianapolis-based The Finish Line Inc. said Thursday that its second-quarter profit rose as it rebounded from a messy quarter a year earlier after the athletic shoe retailer sold its unsuccessful Man Alive hip-hop stores.
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Reopening set for Moscow covered bridge

September 23, 2010
 IBJ Staff and Associated Press
Organizers are planning a weekend ceremony to dedicate a rebuilt covered bridge in central Indiana that was destroyed by a tornado more than two years ago.
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Indy Super Bowl organizers moving ahead with plans

September 23, 2010
Associated Press
Local organizers expect the 2012 Super Bowl to be played as scheduled, despite growing concerns that an NFL work stoppage could force postponement or cancellation of the game.
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EnerDel parent nets $20M from Russian investor

September 23, 2010
Kathleen McLaughlin
New York-based Ener1 didn't disclose how it will use the funds coming from Ener1 Group Inc., a company led by Russian industrialist Boris Zingarevich.
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Developer seeks rezoning for Canal apartments

September 23, 2010
Scott Olson
The city's Division of Planning was set to hear a request Thursday afternoon by Valparaiso-based Investment Property Advisors LLC to rezone property near the Central Canal for a 150-unit apartment complex.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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