The Indianapolis Capital Improvement Board yesterday approved $5.8 million in cuts to its annual budget and agreed to defer an additional $2.3 million in building-maintenance costs this year in an effort to shave its swelling operating deficit. The CIB revealed late last month that it is facing a $43 million annual operating shortfall due to […]
Twenty five years ago, Indianapolis rolled the dice, betting that building this town on sports—amateur and professional—would be a good way to shed the Nap-town image that had dogged the city. The gamble paid off for decades, but now it’s…
Swamped by financial losses that go back to the time Herb and Mel Simon bought the Indiana Pacers in 1983, team officials
are now looking for a new game plan—one that may involve financial assistance from taxpayers and visitors.
Free marketers cringe at the thought of government interference, but the fact is that the taxpayer is now a significant shareholder in a number of financial businesses.
Some local women business owners are encouraged by the election of President Barack Obama and his appointment of a new chief at the Small Business Administration who is thought to be especially interested in the needs of women-owned businesses.
A Florida firm is suing to overturn Indiana’s resident-ownership law regarding liquor.
The bill in question seems like a long shot. It would abdicate government’s responsibility for protecting citizens’ health
and safety, and place it in the hands of individual business owners.
The Capital Improvement Board’s $43 million in debts must be settled soon, or the entity may not be able to survive.
A panel convened by IBJ discusses the lack of funding dilemma and need for broad-based support in the Indianapolis arts community.
Creativity and transparency are required to fix the Capital Improvement Board’s financial woes.
Fairbanks is focused on recovery from alcohol and other drug problems, serving as a resource to improve the well-being
of individuals, families and communities by offering hope and support through its programs and services.
Click here to learn more about the CIB’s bond troubles. The Indianapolis Capital Improvement Board revealed just days ago that it will cost nearly $50 million annually to get the organization’s books back into the black. Now, the question is whether professional sports teams or taxpayers will foot the bill-a debate that’s already raging behind […]
Swamped by fi nancial losses that go back to the time Herb and Mel Simon bought the Indiana Pacers in 1983, team officials are now looking for a new game plan-one that may involve fi nancial assistance from taxpayers and visitors. Apparently, not even housing the team in the much-ballyhooed Conseco Fieldhouse or a trip […]
Indiana’s share of NASA spending amounts to little more than a shiny penny at the bottom of a clothes dryer. Only $130 million made its way to the state in 2007-virtually nothing compared to the $12 billion the space agency doled out to all states and the $5 billion Indiana companies snagged from the U.S. […]
These are scary times for the Capital Improvement Board, the entity that owns the city’s major sports venues and the expanding, and increasingly vital, Indiana Convention Center. Saddled with the prospect of a $50 million shortfall in the next few years, CIB is scrambling for a plan to stay solvent. The temptation to lay blame […]
The nation’s largest liquor distributor is suing the state in hopes of overturning an arcane law that requires distributors doing business here to be owned by Indiana residents. Southern Wine & Spirits of Indiana Inc., part of a Miami-based company that does business in 30 states and distributes about 20 percent of the country’s booze, […]
There’s so much red ink on the Indianapolis Capital Improvement Board’s books that accounting firm BKD LLP is evaluating whether it can continue as a “going concern.” That’s the bean counters’ term for making a professional judgment about CIB’s ability to keep operating, or if instead it must go out of business and liquidate its […]
Just about every community within 50 miles of Indianapolis has made one pitch or another to attract the Indianapolis Colts’ annual pre-season training camp. The three-week camp brings hundreds of players and coaches…
A section of roof fabric from the demolished RCA Dome will be used as a tarp to cover the old Herron School of Art’s so-called “main building” until Herron High School can afford to repair the dilapidated structure. Herron High, a charter school that is not affiliated with IUPUI’s Herron School, purchased the building and […]
