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EYE ON THE PIE: Property taxes: Indiana’s soap opera

September 11, 2006

Hoosier propertytax laws are so bad, they should be totally revised, but not discarded. As it stands, there is little economic sense in how those laws are written or applied. We have homeowners ranked against renters, plus residential, commercial, industrial and agricultural interests are in perpetual conflict. The only beneficiaries of this ceaseless conflict are the party automatons in the General Assembly. Let’s consider the simplest case. Mr. Gold lives in a house with an assessed value of $150,000. Mr….

masthead:

September 11, 2006

E S TA B L I S H E D 1 9 8 0 L O C A L LY OW N E D 41 E. WASHINGTON STREET, SUITE 200 INDIANAPOLIS, IN 46204-3592 317-634-6200 Fax: 317-263-5060 Editorial Fax: 317-263-5406 E-mail address: [email protected] site address: www.ibj.com PRESIDENT AND PUBLISHER Chris Katterjohn VICE PRESIDENT/ SALES & OPERATIONS Greg Morris EDITORIAL Editor – Tom Harton Managing Editor – Greg Andrews Associate Editor – Tawn Parent Focus Editor – Jeff Newman Enterprise Editor – Andrea…

SPORTS: Are security searches all we retained from 9/11?

September 11, 2006

I pulled up the column I wrote five years ago this week. It was published five days after 9/11. This is how it began: “When you have a tragedy of such immense proportions as the one visited on America last week, it renders the world of sport to the status of the trivial, the trite, the absolutely, totally inconsequential.” But I also expressed the belief that it would be sport that would aid us in our recovery. “Yet as meaningless…

ECONOMIC ANALYSIS: Strong economy draws out plethora of spending plans

September 4, 2006

If you ever want to satisfy your curiosity about recessions and business cycles, travel over to the Web site of the National Bureau of Economic Research. It has recorded and documented every downturn and uptick in the U.S. economy since 1857. And over that century and a half, the bureau has noticed certain regularities to the boom and bust of the economy around us. In the first stages of recovery from a recession, for example, it is quite common for…

FUNNY BUSINESS: Planetary restructuring hits Pluto where it hurts

September 4, 2006

Poor Pluto. One day it was spinning through the galaxy, meandering around the sun at a stately 248.54 Earth years per lap, rotating in the wrong direction as compared to the other planets, minding its own business, and then-Bam! It got downsized, reclassified as a planetelle or planetina or planette, whatever they’ve decided to call it. Reminds me of some businesses I know. One day everything’s A-OK, to use space parlance. Next thing you know, Pluto is putting all the…

EYE ON THE PIE: Let’s ditch revenue forecasting

September 4, 2006

“This humidity is the worst part of living in a Hoosier forest. I can’t take off more clothes and maintain an appropriate degree of decency. Even then, this soggy air still would be oppressive.” Faye of the Forest was perched on my deck railing complaining about the weather. I just endured, puffing a cigar as if I were Sydney Greenstreet in one of those 1940s movies set in the jungle. All I was missing was the white suit. “So,” she…

EYE ON THE PIE: If you make a mistake, then ‘fess up to it

August 28, 2006

I spoke at a meeting last week on the prospective impact of Honda in Greensburg on the Columbus economy. Several speakers had preceded me and I did not know what they had said, since I arrived an hour late. Naturally, I apologized for my tardiness. Punctuality is a virtue in societies, like ours, that value efficiency above comfort. Then I proceeded, unwittingly, to make a fool of myself. I proclaimed, in my best stentorian manner, that the key factor for…

SPORTS: Behind the ‘rock’: Confessions of an IU football fan

August 28, 2006

Ah, it’s almost that time again. For the pomp. The pageantry. The Bloody Marys and brats in the parking lot. There are few things I look forward to more than college football season. And that would include Indiana University’s season. Especially IU’s season, in fact. File it under perverse pleasure. Somehow, I find ecstasy in the continuing agony of IU football. Time and again you get punched in the gut only to respond, “Sir, can I have another?” It’s easy…

ECONOMIC ANALYSIS: Simplistic ideas get in way of efforts to increase wages

August 21, 2006

To the small cadre of economists who have worked their entire professional lives trying to understand the complexities of how and why the labor market rewards some skills, occupations and people more than others, the popularity of the idea of a government-mandated minimum wage must be depressing. But it shouldn’t be surprising. The notion that complex market outcomes can be explained by simplistic notions like greed or discrimination-solvable by the stroke of a lawmaker’s pen-will probably always have a superficial…

EYE ON THE PIE: Yes, Virginia, there is an ‘Indiana economy’

August 21, 2006

“Is there really such a thing as the ‘Indiana economy’?” The question came from Ed Doric, a pillar of our community. We were at one of the many fests that provide camaraderie and calories during our humid Hoosier summers. The crowd moved us apart so I could not answer his inquiry. Let the following be accepted as my response. Yes, Ed, there is an Indiana economy. As certainly as there is a U.S. economy, as surely as you or I…

EYE ON THE PIE: Your eye-dentity is the key to our future

August 7, 2006

By my calculations, the U.S. population will reach 300 million on or about Oct. 15. There is no need to specify the hour and minute. The population clock at the U.S. Bureau of the Census indicates that we are adding to our numbers at a rate of nearly one person each 10 seconds. Even though our population growth rate has been declining, the absolute growth numbers, and their implications, remain staggering. For example, if we average two persons per housing…

EYE ON THE PIE: The trouble with inexpensive housing

July 31, 2006

From 2000 to 2004, the U.S. Census Bureau tells us, there were 148,500 housing units added in Indiana. That’s a 5.8-percent rate of growth (16th in the country), exceeding the national rate of 5.3 percent. During the same period, Indiana added 134,600 people, a 2.2-percent increase (33rd in the country) and just more than half the 4.1-percent national rate. For every person we added, we built 1.1 housing units, the 10th-highest rate in the nation. What’s going on? To get…

ECONOMIC ANALYSIS: Impact from small biz smaller than we think?

July 31, 2006

The images are out there, reinforced almost every day. Big business is bad, led by overpaid executives who are out of touch and hire lobbyists to get laws changed in their favor. Or, worse yet, they drive smaller companies out of business. Small business, in contrast, is noble, led by energetic people following their dream, facing special challenges and deserving of our support. Nobody, it seems, is rooting for Wal-Mart to get bigger, and no one ever made a movie…

TAWN PARENT Commentary: In defense of daydreaming

July 31, 2006

In addition to standbys like Little League and Girl Scouts, our children have the opportunity to learn sailing at Geist Reservoir, strut their stuff at the Jewish Community Center’s Broadway camp, or try medieval fantasy drawing at the Indianapolis Art Center. With such an appetizing array of choices, it’s hard to resist serving our kids a heaping plateful. Most of us want to give our children advantages we were not afforded, and “Mixed Media for Preschoolers” certainly qualifies. Besides, who…

EYE ON THE PIE: Too much manufacturing is not Indiana’s problem

July 24, 2006

We know that, relative to the United States, Indiana is neither a rich state nor one growing with vigor. Two weeks ago in this space, I discussed our more recent employment experiences. A friend read the column and asked, “How much of our lack of job growth is due to the slump or collapse in manufacturing jobs?” Nationally, only three states (Nevada, and the Dakotas) had any gain in manufacturing jobs between May 2001 and May 2006. Alaska and Wyoming…

SPORTS: Can U.S. pros reach the world hoops summit?

July 24, 2006

Team USA gathered in Las Vegas this past week to begin its attempt to reclaim America’s rightful place-which would be first place-in international basketball. Imagine, American hoopsters with a hill to climb. Who’d a thunk it? Well, me, for one. Anyone who was paying attention to international hoops-and I happen to be an aficionado-could see that America’s dominance, so pronounced when the 1992 Olympic Dream Team pounded hapless opponents on its way to the gold medal, was slip, slip, slipping…

ECONOMIC ANALYSIS: Education does matter in today’s labor market

July 24, 2006

Here’s an update from the American labor market: Paying attention in school really does matter. Getting good grades and going to college is a big deal. What you study and what you learn will affect the rest of your life. Parents have been telling their kids that for a long time, and some of us even listened. But the message above isn’t from a speech or a lecture. It comes from evidence provided by the U.S. economy, in particular the…

TOM HARTON Commentary: Driving the distance for the basics

July 17, 2006

I recently called my doctor’s office hoping he could squeeze me in to diagnose a minor, but annoying, health problem. His nurse informed me I wouldn’t be able to get an appointment for at least three days. She suggested I go to an immediate-care facility if I needed attention right away. I was surprised the doctor couldn’t see me, but I appreciated the nurse’s candor. She knew better than to cheerfully suggest an appointment days in the future, by which…

EYE ON THE PIE: Who needs economists, anyway?

July 17, 2006

Economists are not stupid people. They are timid and tend to hide their timidity behind a wall of overbearing self-confidence. But they are not stupid. In fact, often they are too smart to talk about what they do and do not know. As they wiggle over the rocks of uncertainty, they appear to others as either sneaky or formless. Let’s take interest rates as an example. Economists like to talk about how, if the Fed raises interest rates, home mortgage…

EYE ON THE PIE: Where have Hoosier jobs gone?

July 10, 2006

“You’re that guy,” she said. “Yeah, I’m that guy,” I confirmed. “How’d ya like some numbers? You can do with them whatcha want,” she said with an intonation that made the opportunity sound pornographic. “I just picked them out of the trash right here at the Department of Workforce Development. They’re fresh and pretty clean.” “How much?” I asked. “Enough for lunch,” Dorothy replied. “Deal,” I said, and we made an exchange of paper money for data on paper. There…

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Articles

EYE ON THE PIE: Property taxes: Indiana’s soap opera

masthead:

SPORTS: Are security searches all we retained from 9/11?

ECONOMIC ANALYSIS: Strong economy draws out plethora of spending plans

FUNNY BUSINESS: Planetary restructuring hits Pluto where it hurts

EYE ON THE PIE: Let’s ditch revenue forecasting

EYE ON THE PIE: If you make a mistake, then ‘fess up to it

SPORTS: Behind the ‘rock’: Confessions of an IU football fan

ECONOMIC ANALYSIS: Simplistic ideas get in way of efforts to increase wages

EYE ON THE PIE: Yes, Virginia, there is an ‘Indiana economy’

EYE ON THE PIE: Your eye-dentity is the key to our future

EYE ON THE PIE: The trouble with inexpensive housing

ECONOMIC ANALYSIS: Impact from small biz smaller than we think?

TAWN PARENT Commentary: In defense of daydreaming

EYE ON THE PIE: Too much manufacturing is not Indiana’s problem

SPORTS: Can U.S. pros reach the world hoops summit?

ECONOMIC ANALYSIS: Education does matter in today’s labor market

TOM HARTON Commentary: Driving the distance for the basics

EYE ON THE PIE: Who needs economists, anyway?

EYE ON THE PIE: Where have Hoosier jobs gone?