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Indiana relies heavily on gambling to fund state and local government. Nearly $1 billion is generated for
government by riverboats, the lottery, and taxes on parimutuel wagering and charity gaming.
Just how long the state will be able to keep the…
The state has reached a deal to buy more than 150 miles of abandoned rail lines for new trails, a deal that would nearly double Indiana’s 170 miles of rail-trails. The governor…
Subaru of Indiana Automotive Inc. has received approval from the Lafayette City Council for two tax abatements on more than $100 million in new equipment and real estate investments at its Lafayette plant, according to the Journal & Courier. The 10-year abatements will save the automaker nearly $1.2 million in the first year of the […]
Forty-five jobs from a Nyloncraft Inc. operation in Bowling Green, Ky., will be shifted to a plant in the company’s headquarters city of Mishawaka in northern Indiana, the Indiana Economic Development Corp. said yesterday. Nyloncraft will invest $2 million in the Mishawaka plant and receive $150,000 in state incentives. The autoparts supplier makes plastic components […]
Pickets at the construction site of a Hilton Garden Inn in the northwestern Indiana town of Hobart slashed 14 tires, cut a telephone line to a trailer and put glue in locks late last week, the project superintendent claims. The superintendent, Kim Lackey, also said the union-based picket line hurled racial and sexual slurs at […]
The Indiana Historical Society will pilot a series of interactive history lessons at its Indiana History Center next year before closing the facility for most of 2009 to make it more visitor-friendly.
The state plans to hand management of its college-savings plan to a new company after the existing manager attracted attention for charging hefty fees. The Indiana Education Savings Authority announced yesterday that it has chosen to begin intensive negotiations with Upromise Inc. to take over the Indiana version of the 529 offering. Upromise, based in […]
Looking for flowers downtown? There’s a new arrangement, thanks to a shakeup among locally based florists. Enflora Flowers for Business, part of McNamara, plans to open in Chase Tower in early February. And…
Indiana Historical Society leaders are scheduled to make a major announcement tonight about an expansion of programs at its Indiana History Center downtown. The local not-for-profit maintains an extensive research library and archives on the history of Indiana, among other activities. Details will be available at IBJ.com this evening.
Indianapolis-based Cohesant Technologies Inc. has agreed to be acquired by Graco Inc. of Minnesota for $35 million. Graco said it intends to keep Cohesant’s largest unit, GlasCraft, while spinning off the rest of the company. Among other products, GlasCraft makes equipment that sprays polyurethane foams. Under the deal, shareholders of publicly traded Cohesant would receive […]
You hear it over and over. Lots of young families would live downtown, or in the surrounding neighborhoods,
if Indianapolis Public Schools didnâ??t have a poor reputation. Rather than risk their childrenâ??s education,
they bolt for township schools or even…
One of Indianapolis’ oldest industrial businesses, Peerless Pump Co., has been sold to Grundfos Group, a pump-making giant headquartered in Denmark, for an undisclosed price. Peerless, whose origin dates to the 1920s, had been owned by Monaco-based Thyssen-Bornemisza Group since 1976. Peerless manufactures pumps for fresh water. Much of its $110 million in sales is […]
Companies are reporting declining profits and sales, which indicates they are in a recession, and the entire economy may follow suit, according to Bloomberg. Profit generated by American companies fell at an annual rate of $19.3 billion in the third quarter, said the report, which cited Commerce Department figures. Profit for companies in the Standard […]
Companies wanting to build camaraderie and teamwork often send their employees on the all-too-predictable retreat. A couple of hours down the road, in a restful setting, they’ll do role-playing games and problem-solving exercises. These corporate chums will cap it off with a bar tab equivalent to the national debt of Belize. Sally Brown thinks she has a better alternative to the typical company retreat. Why not send those employees to Belize? Or how about El Salvador, or even India, for…
Psst. Come closer. Want to double your money? I’ve got a deal for you. No guts? Turn the page now. OK, you didn’t turn the page-Finish Line Inc. stock closed Nov. 26 at $2.94 a share. It’s time to buy. Finish Line is a leader in the outdoor and lifestyle footwear, active wear and accessory field. Basically, the company sells shoes. It has 693 Finish Line stores, mainly in enclosed malls. It also operates nearly 100 Man Alive urban-apparel stores….
The massive new AllPoints Midwest industrial park in Plainfield has landed its first tenant in a mega deal that likely will
be the area’s biggest industrial lease in 2007. Local logistics firm Prime Distribution Services Inc. has signed a lease for
1.2 million square feet in the 920-acre park, a joint venture between Indianapolis-based Duke Realty Corp. and Browning Investments
Inc.
Nov. 20 was one of the stranger days in the stock market that I have seen for some time. On the surface, it came and went like any other business day, with the Dow Jones industrial average ending up a decent 50 points. However, if you had told me the stock prices of both the Federal Home Loan Mortgage Corp. and the Federal National Mortgage Association would collapse 25 percent that day even as the Dow rose, I would have…
Judging from the many yard signs I’ve seen, a repeal of property taxes is a popular sentiment in the state. Too bad, because that would be an uncommon departure from Hoosier practicality and wisdom. Like most states, Indiana taxes income, consumption and wealth. We use these taxes to fund different levels of government. Critics of Indiana’s property taxes are right to be flummoxed. I’ve even argued that many of the consequences of Indiana’s property taxes are worse than most critics…
It happened on the day that does not exist. Black Friday, the day after Thanksgiving, is not a good news day. This year, we got an extra serving of admonitions about obesity from the Centers for Disease Control. Beyond that, we heard the usual stories of indignation and indigestion, miracle recoveries from swallowed wishbones, and promising/disappointing retail sales. Also on that day, Gov. Mitch Daniels deferred for another year his proposal to “privatize” the Hoosier Lottery. Last year, the state…
WellPoint, Indiana’s largest health insurer, is making more noise than ever about what it’s doing to help improve Hoosiers’
and Americans’ health.
