Shelby County

Ex-manager files $600M suit against Indiana Live owners, others

February 21, 2011
Scott Olson
Maryland-based Cordish Cos. says the casino owners withheld $8.4 million in payments and conspired with other groups trying to sabotage its plans for a Maryland gambling facility.
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Countertop maker to close Shelbyville plant

February 21, 2011
 IBJ Staff
Iowa-based VT Industries will close its countertop manufacturing plant in Shelbyville and move the work to a new facility in Maryland, the company said Friday.
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Marsh in Shelbyville among latest stores to close

January 5, 2011
Scott Olson
The supermarket chain has closed a store in Rushville and will shut others in Shelbyville and Connersville by the end of February. The closures will leave Marsh with 97 stores, about half of which are in Indianapolis.
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Indiana Live owners miss interest payment

November 4, 2010
 IBJ Staff and Bloomberg News
The owners of Indiana Live racetrack and casino failed to make an interest payment due Nov. 1 on $375 million in debt, providing additional fodder for credit analysts already worried about its financial condition.
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Indiana Live swamped by debt, faces potential default

October 16, 2010
Francesca Jarosz
Owners of the Indiana Live racetrack and casino face an interest payment on the lion’s share of their $544 million in debt next month, as credit analysts continue fretting about the company’s ability to pay its bills.
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Stanley moving production to new Greenfield plant

October 1, 2010
Andrea Muirragui Davis
Connecticut-based Stanley Black & Decker Inc. plans to combine two of its manufacturing operations at a new facility in Greenfield, transferring about 100 workers from Shelbyville and adding as many as 80 jobs in the next two years.
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Indiana Downs cancels horse races after complaints

August 4, 2010
 IBJ Staff and Associated Press
The Shelbyville track's final race on Monday was canceled after a horse pulled up lame and was later euthanized. The track canceled its full card of Tuesday races.
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Shelbyville, county plan economic development projects

July 17, 2010
Kathleen McLaughlin
Millions of dollars in tax revenue that flows from the Indiana Live casino to local government coffers will be set aside for economic development. Shelbyville Mayor Scott Furgeson hopes to present new projects to the city council in the next month or two.
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Shelbyville man sentenced for ripping off employer

June 17, 2010
John K. Branam was sentenced to 57 months in prison after pleading guilty to embezzling $1.6 million over four years from King’s Title & Abstract Co.in Shelbyville.
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Knauf Insulation sues NatCity over $8M investment lossRestricted Content

May 8, 2010
Kathleen McLaughlin
One of Shelby County's largest employers is suing NatCity Investments Inc. to try to recover nearly $8 million in losses on auction-rate securities. Knauf Insulation filed suit in Shelby Superior Court in March, saying NatCity should repay the money in accordance with a settlement the bank reached with federal regulators in March 2009.
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Carbon Motors' prototype cop car is crammed with technology

April 17, 2010
Norm Heikens
Carbon_WatchVideoThe specialized vehicle can read license plates, sniff for weapons of mass destruction and see people and animals in the dark.
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Shelbyville insulation company laying off 100 workers

April 8, 2010
Knauf Insulation will idle employees in June for at least six months, as demand for its building products remains soft.
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Former Shelbyville office manager charged with embezzlement

April 1, 2010
Federal prosecutors allege man embezzled $1.6 million from a title insurance company.
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Shelbyville tech park keeps tax incentives

February 5, 2010
Kathleen McLaughlin
State officials are giving Shelbyville's struggling Intelliplex business park another chance to use tax incentives to land new companies and high-paying jobs.
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Knauf fills new CEO position

January 20, 2010
Knauf Insulation in Shelbyville appoints a company executive to its newly created position of CEO of North American operations.
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Suburban counties building outer loop to avoid Indianapolis

November 7, 2009
Chris O'Malley
Counties wanting to speed traffic among suburbs are building highways to avoid having to travel into Indianapolis. The result, a 100-mile outer loop beyond Interstate 465, won't be completed for years, and it won't be built to consistent standards, but it might help ease congestion.
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Blue River posts loss on poor loan climate

November 4, 2009
Shelbyville-based Blue River Bancshares Inc. on Tuesday night said mounting loan losses contributed to a third-quarter loss of $356,000.
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Public transportation entities in Indianapolis region might be reorganizedRestricted Content

October 24, 2009
Chris O'Malley
The Central Indiana Regional Transportation Authority, IndyGo and other Indianapolis-area transit groups are the subject of a study that could result in them being reorganized.
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Pennsylvania city not giving up Harley without a fightRestricted Content

September 26, 2009
Kathleen McLaughlin
The motorcycle manufacturer is considering a Shelby County site at the same time that it's pushing for concessions from the union in York, Pa.
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Kansas City out of running for Harley-Davidson plant

September 1, 2009
 IBJ Staff
Central Indiana’s chances for landing a Harley-Davidson motorcycle plant have been improved by the elimination of Kansas City from the list of potential sites.
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Shelbyville struggles to reach tech park goalsRestricted Content

August 29, 2009
Kathleen McLaughlin
Despite recent investment by Major Health Partners, Shelbyville’s technology park is about as far from meeting state standards as it was two years ago.
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State gambling revenue expected to stay flat

August 24, 2009
Scott Olson
Indiana’s share of tax money generated by the state’s 13 casinos is expected to remain relatively flat for at least the next few years, a state fiscal analyst told Gaming Study Committee members this morning.
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MillerWhite signs deal with Shelby County Development Corp.

August 24, 2009
 IBJ Staff
MillerWhite LLC, an Indianapolis-based marketing and communications firm, recently signed a deal to produce a new logo, tag line and Web site for the Shelby County Development Corp., a Shelbyville-based economic development organization.
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Harley-Davidson scouts Shelby County for site

August 20, 2009
Milwaukee-based Harley-Davidson Inc. is considering Shelby County as the site for a massive new motorcycle plant.
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Site visit lifts county's hopes for landing Harley

August 20, 2009
 IBJ Staff
Harley-Davidson Inc. officials were in Shelby County yesterday assessing it as a location for a new motorcycle plant, but it isn’t yet clear how the county stacks up to other U.S. locales that also are in the running for the economic-development prize.
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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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