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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 […]
When playwright Christopher Durang is in control-and when he’s got a cast in sync with his satirical world-the results can be hilarious. When his desire seems just to be more outrageous at every turn-the results can be awkwardly exhausting. His anchor-less “Titanic,” which occupies the entire second half of InterAction Theatre’s “Durang-ORama” (through Feb. 14 […]
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 […]
Simon Property Group Inc. CEO David Simon hasn’t lost his swagger in the ugliest retail environment of his career. During a conference call with Wall Street analysts Jan. 30, Simon touted his fi rm’s conservative balance sheet and best-in-class mall portfolio. Responding to a question about how the company is handling retail store closings, he […]
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, […]
When playwright Christopher Durang is in control-and when he’s got a cast in sync with his satirical world-the results can be hilarious. When his desire seems just to be more outrageous at every turn-the results can be awkwardly exhausting. His anchor-less “Titanic,” which occupies the entire second half of InterAction Theatre’s “Durang-ORama” (through Feb. 14 […]
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 […]
The phone rings. “Hello,” I say. “Hi. This is Dannae Deadline from the Denver Drought,” a female voice replies. “Denver, Colorado?” I ask. “No,” she says, “Denver in Miami County, north of Peru, near Mexico and Chili.” “What can I do for you Dannae?” I ask. “My editor tells me you received some distinction recently […]
A third nominee to join the Obama administration has gone down in flames after revelations about problems
with income taxes.
A Senate panel last night called off confirmation hearings for U.S. Rep. Hilda Solis, who was nominated to
lead the Labor…
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…
Last week, we at IBJ gathered a panel of local arts professionals to discuss funding issues. A story about that insightful talk will appear in the upcoming print IBJ while a video will appear on line. I’ll give you more…
Two companies informed the state today that their closings collectively will leave 321 people out of work, while another, HHGregg Inc., said it will cut 51 jobs by outsourcing its delivery operations. Indianapolis-based telemarketer TeleServices Direct Inc. will slash 279 positions, including 247 sales representatives, and close its call center in Lafayette by April 4. […]
Eli Lilly and Co. CEO John C. Lechleiter saw his compensation spike nearly 28 percent in 2008 as he took over the top job at the Indianapolis-based drugmaker. Lechleiter received $10.8 million in salary, bonus, stock and perks during the year, according to a preliminary proxy statement filed today by Lilly with the U.S. Securities […]
Steep discounts resulting from the liquidation of Circuit City Stores Inc. are expected to have a short-term negative impact on Indianapolis retailer HHGregg Inc., company officials said this morning in conference call with investors. But, ultimately, they think HHGregg is well-positioned to fill the void that the nation’s No. 2 electronic retailer will leave when […]
A judge sided with Indiana regulators today and placed the financial assets of the estranged wife of indicted, parachuting money manager Marcus Schrenker into receivership, where bilked clients might recover some of their losses. The judge in suburban Hamilton County ordered the assets of Michelle Schrenker frozen and controlled by a court-appointed receiver. He issued […]
