Unsatisfied with the Hoosier Park owner’s reorganization plan, hedge funds represented by Wells Fargo Bank petition for conversion
of Chapter 11 bankruptcy into Chapter 7.
In 2007, Nathan Feltman became Indiana's secretary of commerce, replacing his mentor, IBJ Media Corp. co-owner Michael
Maurer. It was a smooth transition.
As IBJ reported last year, Houston-based American General Life Insurance Company is attempting to invalidate a $15
million policy it issued in January 2006 insuring the life of Germaine “Suzy” Tomlinson—Conseco Inc. co-founder
Stephen Hilbert’s mother-in-law—who died Sept. 28, 2008, at age 74.
Mayor Greg Ballard’s potential lease of more than 15,000 street, surface and garage parking spaces could create turnover downtown
and in Broad Ripple, boosting retailers and restaurants.
Bankrupt Hoosier Park owner Centaur Inc. has offered its creditors a risky reorganization plan. For it to work, dozens of
hedge funds must stay in the game, in return for a chance to buy a big chunk of the company later.
Robert J. Laikin earned $2.2 million in 2009, nearly 35 percent less than in 2008. Several other members of his management
team also took
substantial pay cuts.
New York-based Moody’s Investors Service has downgraded its credit rating for Indiana Live horse track and casino, a warning
signal that the Shelbyville facility may soon follow its Anderson counterpart Hoosier Park into bankruptcy.
So far, in discussing his plan to sell the city’s water and sewer utilities, Mayor Greg Ballard has
emphasized the impact on utility rates, the $1.5 billion in city debt Citizens would assume, and the chance
to improve streets and sidewalks. But Ballard also has another key objective: business attraction and
expansion.
James Prieur’s total compensation fell 5 percent last year to $3.3 million, but other Conseco executives saw pay hikes between
25 percent and 54 percent.
Duke Realty’s former chief operating officer took home $3.1 million last year. The office, industrial and retail property
owner and manager
also awarded raises to its CEO and the rest of his management team.
David Simon’s $4.6 million in total compensation last year was $1.2 million more than in 2008. The rest of his management
team’s pay declined or remained flat.
A mix of business and personal woes have pushed Steven Carter Ross, the longtime owner and manager of the Vogue nightclub,
into personal bankruptcy. Now a judge must decide whether Ross can keep the popular Broad Ripple music venue, or if he must
sell it to satisfy his creditors and his estranged wife.
Columbus-based engine maker Cummins trimmed Solso’s total compensation by $2.3 million last year; remainder of management
team took
similar pay cuts.
The Evansville-based bank, the largest financial institution headquartered in Indiana, awarded Robert Jones $1.2 million in
total compensation last year, or $146,177 less than in 2008.
Hoosier legislators are crowing about the deal they just brokered to delay a $400 million state tax hike meant to shore up
Indiana’s bankrupt Unemployment Insurance Trust Fund. Here’s what they’re not touting: the mandatory federal tax increases
every single business in Indiana now faces the next three years.
Indianapolis’ new public safety director says the city’s pound is woefully underfunded. But he also takes umbrage at critics
who call it a dirty death row for unwanted cats and dogs.
Former Indiana Economic Development Corp. project manager will focus on developing business relationships with European companies.
The organization last year closed 11 business expansion or attraction deals, netting 2,950 new jobs in the process.
Legislators postponed a $400 million tax hike to shore up Indiana’s bankrupt Unemployment Insurance Trust Fund, but state’s
most
troubled employers still face automatic payroll tax hike this year.
Deputy mayor, city Bond Bank director resign to take jobs in the private sector.
