News & Analysis

After another loss, JA plans for recovery

August 13, 2010
Kathleen McLaughlin
The not-for-profit hangs its hopes on efforts including more aggressive fundraising after reporting a $389,000 deficit for its 2010 fiscal year. "It's been a rough spell," said CEO Jennifer Burk.
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Will third time be a charm for Emmis?

August 13, 2010
Scott Olson
Emmis shareholders are set to vote again Friday night on taking the company private, but the proposal could be in jeopardy if a deal is not reached soon, says one investment expert.
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INSIDE DISH: Fairgrounds caterer revels in year-round gig

August 13, 2010
Mason King
Bartos Watch VideopPlying fairgoers with country-fried treats is just the start for John Barto, whose firm provides food-and-beverage service for confabs across the Fairgrounds calendar.
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HR firm FlashPoint severs ties with Barnes & Thornburg

August 13, 2010
Scott Olson
FlashPoint's co-owners purchase remaining shares from law firm to give them sole ownership of the company they founded in 2002.
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Loogootee losing 95 jobs to bedding plant closure

August 13, 2010
Perfect Fit Industries, a supplier of bedding accessories such as mattress pads, pillows and comforters, will shut down its facility in southwest Indiana by the end of the year.
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Biomet investing $26M to expand, create nearly 280 jobs

August 13, 2010
 IBJ Staff
Orthopedics giant Biomet Inc. plans to invest $26 million to grow operations in its hometown of Warsaw, adding 278 jobs by the end of 2012.
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Eli Lilly loses patent lawsuit for Strattera

August 13, 2010
 IBJ Staff and Associated Press
Eli Lilly and Co. on Thursday lowered its revenue outlook for the year after it lost a patent lawsuit over its attention deficit hyperactivity drug Strattera. The patent had been set to expire in May 2017. Lilly plans to appeal.
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Lawmaker wants Durham donations returned

August 12, 2010
 IBJ Staff and Associated Press
State Rep. Ed DeLaney of Indianapolis said Thursday that contributions of more than $800,000 by Indianapolis businessman Timothy Durham should be sent to a bankruptcy trustee for Ohio investment firm Fair Finance Co., which was forced into bankruptcy earlier this year.
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Schrenker to plead guilty to securities fraud

August 12, 2010
 IBJ Staff and Associated Press
A former money manager convicted of trying to fake his own death in a Florida plane crash last year has agreed to plead guilty to securities fraud charges in Indiana. Marcus Schrenker would face 10 years in prison.
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GM plant offer sets off union power struggle

August 12, 2010
Kathleen McLaughlin
The UAW in Detroit said Local 23 will vote Monday on Illinois-based JD Norman's proposal to buy an Indianapolis stamping plant where more than 600 work, but a local rep says workers don't want to negotiate.
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Eiteljorg to launch new attractions, strategy

August 12, 2010
Kathleen McLaughlin
The Eiteljorg Museum of American Indians and Western Art is trying to raise $4.5 million to fund a new strategy aimed at boosting attendance.
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Edward Jones eyeing Indianapolis expansion

August 12, 2010
The St. Louis-based financial services firm plans to add 62 branches within the next five years here to complement the existing 90 locations it already has in the city and surrounding counties.
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Fish sculpture poached from iconic IU fountain

August 12, 2010
Associated Press
A bronze fish that is part of the Bloomington campus's Showalter Fountain is missing just a year after it was replaced following an absence of more than 20 years.
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New jobless claims hit highest level in six months

August 12, 2010
Associated Press
Initial claims for unemployment benefits have now risen in three of the last four weeks and are close to their high point for the year of 490,000, reached in late January.
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Thousands beat it to Indianapolis for Drum Corps competition

August 12, 2010
Kathleen McLaughlin
About 30,000 people are expected to attend the Drum Corps International World Championships over the next three days at Lucas Oil Stadium in Indianapolis.
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Simon mall deal gives big boost to cell-phone coupons

August 11, 2010
Associated Press
The partnership between Simon Property Group and technology company Shopkick Inc. is a big step in realizing retailers' long-held dream of using cell phones to beam ads and coupons to people passing by.
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Centaur ready to sell Pennsylvania racetrack-casino project

August 11, 2010
Associated Press
Indianapolis-based Centaur LLC said Wednesday it is asking a federal bankruptcy judge to approve bidding procedures to transfer ownership of Valley View Downs.
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AIG sells American General unit to Fortress at loss

August 11, 2010
Bloomberg News
American International Group Inc. has agreed to sell a majority stake in its Evansville-based consumer lending unit, getting rid of an operation that posted about $1.7 billion in operating losses since 2008 and accumulated more than $17 billion in debt.
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FinishMaster reports lower sales, profit

August 11, 2010
The Indianapolis-based distributor of automotive paints and accessories reported that its second-quarter profit dipped nearly 2 percent, to $3.7 million, from the same period a year earlier.
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LEADING QUESTIONS: Gleaners chief gets wake-up call

August 11, 2010
Mason King
Altmeyer
                           watch videoCEO Pamela Altmeyer reevaluated her priorities and decided to step down after a family tragedy and the agency's latest capital campaign.
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Parking rates could double under city plan

August 11, 2010
Scott Olson
City leaders expect to select a manager to oversee parking operations within the next week.
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Cincinnati Bell chooses Carmel for subsidiary's headquarters

August 11, 2010
Scott Olson
Evolve, which offers bundled voice and data services to commercial customers, will start with 100 employees in Carmel and plans to add more.
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Auto parts plant leaving Ohio for Indiana, may employ 350

August 11, 2010
Associated Press
Continental Structural Plastics expects to spend at least $9.1 million on upgrades to the Huntington factory and perhaps have 350 workers working there by 2012.
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Area home sales slide again

August 11, 2010
July's 27-percent decline marked the third straight month that home sales have slumped in central Indiana following three straight months of improving sales spurred by generous federal tax credits.
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Roche hit with new breed of patent suit

August 11, 2010
J.K. Wall
Roche Diagnostics, a Swiss company that keeps its U.S. headquarters in Indianapolis, has been sued for marking its Accu-Chek blood glucose monitors and accessories with patents that are expired. Illinois resident David O’Neill has sued on behalf of the U.S. government to recover damages of $500 per infraction.
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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.

  4. GOOD DAY to you I am Mr Howell Henry, a Reputable, Legitimate & an accredited money Lender. I loan money out to individuals in need of financial assistance. Do you have a bad credit or are you in need of money to pay bills? i want to use this medium to inform you that i render reliable beneficiary assistance as I'll be glad to offer you a loan at 2% interest rate to reliable individuals. Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *Horse Loans *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans. Please write back if interested. Upon Response, you'll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You can contact me via e-mail howellhenryloanfirm@gmail.com Yours Sincerely MR Howell Henry(MD)

  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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