Indianapolis Business Journal

AUGUST 17-23, 2015

The mammoth Grand Park sports complex is widely known as a city property, but Westfield actually owns less than half of the land. That has resulted in an unusual arrangement in which the city has paid hundreds of thousands of dollars in rent and even property taxes for the land, Lindey Erdody reports. Also in this week’s issue, Anthony Schoettle reveals that several IndyCar teams are struggling financially, bringing into question the viability of the series itself. And in A&E Etc., Mike Lopresti has a preview of the upcoming football season, from local high schools to the NFL.<

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Cash woes vex teams in IndyCar

A new lawsuit that claims Andretti Autosport—one of the IndyCar Series’ biggest teams—is on the brink of insolvency has many questioning the viability of the open-wheel series itself.

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Republic on quest to quell pilot strife

A years-long contract dispute between the airline, officially Republic Airways Holdings Inc., and the labor union that represents its pilots has grown bitter under the stress of a new lawsuit.

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Personal guarantees haunt Centre Properties founders

A Cincinnati bank that won a $2.1 million judgment on personal guarantees from Centre Properties founders Craig Johnson and James Singleton took the extreme action recently of having bank accounts frozen after the pair did not pay up.

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Casino operator proposes $650M development on airport site

The complex, called American Place, would contain Indiana's smallest casino, 1.2 million square feet of retail space, 200 condominiums, 25 high-end hotel suites, a conference and performance center, offices, a movie theater with moving seats and a health club.

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OpinionBack to Top

BOHANON & STYRING: Social Security funding crisis is already here

The most recent Report of the Social Security Administration projects that, in 2020, interest earnings will not be enough to cover Social Security’s deficit, so the Social Security Trust Fund’s balance will begin to decline. It is expected the balance will be zero sometime in 2034.

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