News & Analysis

Simon sues insurance companies over fatal escalator accident

June 27, 2014
Scott Olson
The mall manager has filed a lawsuit against two insurance companies claiming they should have covered its loss stemming from a teenager's escalator fall in 2009.
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Finish Line reports strong quarter as same-store sales rise

June 27, 2014
Associated Press
Sales at stores open at least a year climbed 5 percent, and the company's website improvements and relationship with Macy's also helped to drive profit.
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Lilly wins EU backing for version of insulin drug

June 27, 2014
Bloomberg News
Lantus, which garnered $7.8 billion in sales for Paris-based Sanofi in 2013, loses patent protection in Europe in May next year.
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Pence reappoints members of state education board

June 27, 2014
Associated Press
Pence announced Thursday that Indiana developer Gordon Hendry, Lake County attorney Tony Walker, Evansville teacher B.J. Watts and Huntington teacher Cari Whicker would serve new four-year terms.
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Bikeshare program reports nearly 30,000 rides in 8 weeks

June 26, 2014
 IBJ Staff
The Indiana Pacers Bikeshare program has landed 1,026 annual members and sold 9,926 24-hour passes, resulting in 29,874 total trips, Indianapolis Cultural Trail Inc. said.
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High court sides with Fifth Third employees in dispute

June 26, 2014
Associated Press
The U.S. Supreme Court on Wednesday sided with bank employees in a lawsuit against Fifth Third Bancorp that accused management of irresponsibly investing employee retirement money in the bank's then-failing stock.
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Pence says GOP should seek limits on federal government

June 26, 2014
Associated Press
Indiana Gov. Mike Pence on Thursday called on Republicans to dramatically limit the federal government's role in public education, welfare programs and transportation in a speech aimed at boosting his profile among New York's powerful political donors.
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Indiana settles dispute with tobacco companies

June 26, 2014
Emily Metheny, The Statehouse File
Under the agreement signed Thursday, Indiana will receive about $217 million during the next two years, enough to pay for programs that use the dedicated tobacco money.
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Employers scramble to deal with same-sex marriage

June 26, 2014
J.K. Wall
Nine out of 10 Hoosier employers do not offer benefits to same-sex partners, meaning many might need to change their policies after a federal judge on Wednesday declared same-sex marriage legal in Indiana.
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Pence to visit United Kingdom on economic development trip

June 26, 2014
Associated Press
Indiana Gov. Mike Pence is leading a group of business and community leaders on a jobs mission to the United Kingdom next month.
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Airport in talks with user for 149-acre site

June 26, 2014
Kathleen McLaughlin
A deal to lease most of the land has momentum, according to an Indianapolis International Airport official. The city had been eying the parcel for its criminal justice complex.
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High court rebukes Obama on recess appointments

June 26, 2014
Associated Press
The Supreme Court on Thursday limited the president's power to fill high-level vacancies with temporary appointments, ruling in favor of Senate Republicans in their clash with President Barack Obama.
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Gay couples' Indiana celebration could be derailed

June 26, 2014
Associated Press
Attorneys on both sides of the gay marriage debate expect the issue to ultimately be decided by the U.S. Supreme Court, which last year struck down the federal Defense of Marriage Act.
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Muncie launches 'quiet zone' push to benefit hotel

June 26, 2014
Associated Press
Muncie's push would benefit a $40 million Courtyard by Marriott hotel slated for a groundbreaking later this year and set to open in fall 2015 just north of CSX Transportation and Norfolk Southern tracks.
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U.S. consumer spending rises less than expected

June 26, 2014
Bloomberg News
Consumer purchases, which account for about 70 percent of the economy, climbed 0.2 percent in May after being little changed in April, Commerce Department figures showed Thursday. Analysts expected a rise of 0.4 percent.
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Notre Dame, GE plan turbine-research facility in Indiana

June 26, 2014
Associated Press
The University of Notre Dame and General Electric Co. on Thursday announced plans to partner in a $36 million research and test facility for massive gas turbine engines used by commercial and military aircraft, power plants, and the oil and gas industry.
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Aereo court ruling sidesteps cloud-computing questions

June 26, 2014
Bloomberg News
As Aereo Inc.’s streaming-TV service was dealt a potentially fatal blow Wednesday, the cloud-computing industry was more concerned about what the U.S. Supreme Court didn’t say.
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Judge overturns Indiana marriage law; same-sex couples marry in Marion County

June 25, 2014
Paige Clark, The Statehouse File
A federal judge has overturned the state’s ban on same-sex marriage, leaving open the door for gay couples to marry immediately. By the end of the day, more than 180 same-sex couples had been married in Marion County.
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Indiana to study peer cities to learn growth strategies

June 25, 2014
Allie Nash, The Statehouse File
The Indiana Economic Development Corp. will conduct a study to compare Indiana cities to others across the region that are economically booming, the IEDC announced Wednesday.
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Ball State fraud involved failed internal controls

June 25, 2014
Associated Press
Ball State Treasurer Randy Howard told The Star Press he doesn't know whether that failure involved deception by anyone at the university, lack of due diligence or both.
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Indiana man pleads guilty in fake credit union case

June 25, 2014
 Associated Press and IBJ Staff
An Indianapolis man has pleaded guilty to a Ponzi scheme that defrauded thousands of investors of millions of dollars through a fake online credit union.
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Pence names social services chief after sudden exit

June 25, 2014
Associated Press
Indiana Gov. Mike Pence picked a new secretary Wednesday to run the Family and Social Services Administration and created a position overseeing his proposed alternative to traditional Medicaid.
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NFL agrees to remove $675 million cap on head injuries

June 25, 2014
Associated Press
The NFL agreed Wednesday to remove a $675 million cap on damages from thousands of concussion-related claims after a federal judge questioned whether there would be enough money to cover as many as 20,000 retired players.
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Ex-Colt testifies to Senate panel about brain damage

June 25, 2014
Associated Press
Former NFL tight end Ben Utecht told a Senate hearing Wednesday that he fears where his history of brain injuries will leave him in the future.
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Developer requesting $1M over Broad Ripple project delays

June 25, 2014
Scott Olson
Browning Investments Inc. is seeking the damages from opponents of its proposed $30 million apartment-and-retail projects for costs related to construction delays due to a pending appeal.
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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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