News & Analysis

FedEx closely watching key legislation

March 12, 2010
Chris O'Malley
Congress may determine long-term fate of FedEx's Indianapolis cargo hub, where about 4,500 work.
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Indiana University Foundation lays off 18 staffers

March 12, 2010
 IBJ Staff and Associated Press
The cuts, both in Bloomington and Indianapolis, come as part of an effort to trim $2.4 million from the fund-raising group's $26 million operational budget.
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Impending budget cuts prompt arts funding turf war

March 11, 2010
Kathleen McLaughlin
The staff of the Indiana Arts Commission is proposing to revamp a regional partnership system that it enacted 13 years ago as a way to fund the arts in all 92 counties of the state.
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Simon says new General Growth plan is less uncertain

March 11, 2010
Bloomberg News
A new plan by mall owner General Growth Properties Inc. to exit bankruptcy resolves some uncertainty rival bidder Simon Property Group Inc. has criticized, Simon CEO David Simon says.
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Republic hits turbulence with Frontier mechanics

March 11, 2010
Associated Press
The union for mechanics at Frontier Airlines is going to court over Republic Airways Holdings Inc.'s plans to shift their work to Milwaukee.
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Area home sales, prices show increase

March 11, 2010
The housing market could be awakening from its deep sleep, if February home-sale agreement figures are any indication.
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Future of Big Ten tourneys in city unclear after 2012

March 11, 2010
Scott Olson
The Big Ten men's and women's basketball tournaments will be held in Indianapolis the next two years, but the conference's future in the city is uncertain after 2012.
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Former Saturn franchise in Fishers enters new orbit

March 11, 2010
Chris O'Malley
An All Things Automotive franchise is replacing Saturn of Fishers. The concept, aimed particularly at displaced Saturn dealers, involves used-car sales and service bays stocked by Carquest.
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Hurco suffers loss as sales plummet

March 11, 2010
 IBJ Staff
The Indianapolis-based manufacturer's quarterly revenue fell to $20.6 million, a 27-percent drop from the same period the year before.
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Hoosier entrepreneurs make magazine's billionaires list

March 11, 2010
 IBJ Staff
Bill Cook, Dean White, Jim Irsay and Herb Simon have made Forbes magazine’s annual list of the richest people in the world.
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NCAA tournament committee focused on 65, not 96

March 11, 2010
Associated Press
The NCAA is discussing whether to expand the 65-team men's basketball tournament, a topic with no shortage of controversy and opinions.
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Lawyers in Simon estate case fight over what should be public

March 10, 2010
Greg Andrews, Cory Schouten
Parties disagreed over public disclosure in the first major court hearing in the dispute over how to divide the billionaire's fortune.
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Official: Promised rate reduction key in $1.9B city water, sewer deal

March 10, 2010
Chris O'Malley
Cost savings from combining three utilities helped give Citizens Energy Group an advantage in the deal to take over Indianapolis' water and sewer operations, said Michael Huber, the city’s director of enterprise development.
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Logistics firm CEVA to lay off 250 workers in Plainfield

March 10, 2010
Jeff Newman
CEVA Logistics U.S. Inc. plans to permanently lay off nearly all of its workers at its warehouse operations in Plainfield, resulting in the loss of more than 250 jobs.
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Indiana's jobless rate holds steady at 9.7 percent

March 10, 2010
Scott Olson
The state's unemployment rate in January remained unchanged from the seasonally adjusted figure of 9.7 percent Indiana reported in December.
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Delta Faucet cutting 40 more jobs at Greensburg plant

March 10, 2010
The Carmel-based company said its decision to consolidate machining activities at a plant in Tennessee is driven by weak retail sales and a sluggish housing market.
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Citizens Energy to take over city's water, sewer utilities

March 10, 2010
 IBJ Staff
The agreement is expected to generate more than $425 million in funding for local infrastructure improvements, and Citizens has agreed to assume $1.5 billion in debt associated with the utilities.
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Q&A

March 10, 2010
J.K. Wall
James Jordan's firm, Strategic Data Management, has developed a Web-based portal to help diabetics chart and manage their blood sugar levels. The firm is now pitching its portal for a fee to doctors, health plans, device manufacturers, drug firms and others.
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Chances of health reform passage soar

March 10, 2010
J.K. Wall
By pounding health insurers such as WellPoint Inc., President Obama has greatly boosted his chances of success in the eyes of Wall Street. But to make his health reform bill reality, he might need to answer the less-than-reassuring news coming from Massachusetts.
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ITT Educational awards top managers substantial raises

March 10, 2010
Peter Schnitzler
The Carmel-based for-profit educator paid CEO Kevin M. Modany $7.6 million in total compensation last year, a 63-percent increase over 2008. And the rest of his management team all enjoyed pay increases of 45 percent or more.
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Health care software firm raises $1.15 million

March 9, 2010
J.K. Wall
Indianapolis-based PolicyStat LLC raised $1.15 million in angel capital from 31 individuals and Halo Capital Group.
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WTHR general manager dies suddenly

March 9, 2010
 IBJ Staff
Jim Tellus, the 47-year-old general manager of local NBC affiliate WTHR-TV Channel 13, died suddenly this week.
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Indiana closer to eliminating anti-smoking agency

March 9, 2010
 IBJ Staff and Associated Press
The plan approved by the Republican-controlled Senate would transfer the duties of the Tobacco Use Prevention and Cessation board to the State Department of Health.
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CIB turns down Axe deodorant ad for stadium

March 9, 2010
Scott Olson
The Indianapolis Capital Improvement Board on Monday rejected a request from Axe deodorant to place an advertisement in Lucas Oil Stadium because the message is too racy for youngsters.
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Evansville firm enters local cloud-computing fray

March 9, 2010
Chris O'Malley
nGenX Corp. is opening an Indianapolis office to tap into increased demand for outsourced data centers.
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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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