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Minimum wage set to increase: Small-business owners bracing themselves for change

Jeff Coppinger just can’t support legislative efforts to raise the minimum wage. Part-time employees at his Lazy Daze Coffee House in Irvington start at $6 an hour and top out at about $8-well over the $5.15 hourly minimum. But he knows that won’t be good enough if a pending federal rate change passes. “In the past, I’ve always been a champion for raising the minimum wage,” said Coppinger, who opened his business in 2003. “But now that I’m in business,…

County property tax hit looming

Taxes on Marion County commercial and industrial properties soon may go up sharply. The Indiana Department of Local Government
Finance, which oversees the state property tax system, has ordered a complete reassessment of the county's commercial
and industrial properties.

STATEHOUSE DISPATCH: Events outside the Capitol shape final days of session

As I write this, we have no way of knowing what the 2007 session of the Indiana General Assembly will mean for gambling, property tax relief or the biennial budget-the three overarching items looming over the heads of lawmakers as they entered their final week of deliberations. But that won’t prevent us from making a few pertinent observations about the context, and how that atmosphere was shaping events. Each legislative session possesses a flow of its own, based on incidents,…

Conner Prairie testing ideas for new exhibits: Officials consider virtual canoe ride, hearthside dinners in effort to keep museum’s attendance on upswing

The possibilities are intriguing: A tethered hot-air balloon ride. Old-time hearthside dinners prepared with farm-fresh ingredients. A wilderness-skill challenge that includes rock climbing and a virtual canoe ride. Leaders at Conner Prairie are weighing which-if any-of those ideas would be a good fit at the Hamilton County living history museum, which is focusing on its future even as it works to preserve the past. “The board is very committed to the idea that Conner Prairie must remain relevant and exciting…

Admitted ‘geek’ builds product-development prowess at Priio

By Larry O’Cull’s own admission, his company’s northwest-side office is staffed with “a bunch of geeks,” including himself. But as clients of product-development firm Priio will attest, it’s hip to be geek. A tour of the office offers a glimpse at a playground for engineering-inclined grown-ups. One of the firm’s 12 employees fiddles with the trigger on a paintball gun, while another tinkers with a concept for a propane-tank vending…

BULLS & BEARS: Sectors of stock market swing in and out of favor

I hated chemistry class in high school. Beakers and Bunsen burners were fun, but memorizing the periodic table of elements was torture for my ADD brain. All those little boxes with different colors stacked up in rows with the twoletter symbols and numbers of protons and neutrons boggled my mind. Today, though, a periodic table provides valuable instruction in my business. I am not talking about the periodic table with hydrogen, einsteinium and nobelium on it. The table valuable to…

Embarking on a new Venture: New leader planning progressive changes at center, not a total revamping

The new leader of the Indiana Venture Center is beginning to put his stamp on the not-for-profit that mentors promising startups. James Eifert, 64, is the former president of Terre Haute-based Rose-Hulman Ventures who took charge of the center in December following the July resignation of Steve Beck. Beck left to become co-managing director of IVC Equity Partners, a new local seed-capital fund. Chief items on Eifert’s to-do list are broadening the donor base, revamping the Venture Center’s proprietary network…

SPORTS: The Attucks story finally finds a national audience

Inspiration is timeless. In that regard, it doesn’t matter that two years after its initial release and 52 years after the fact, the story of the Crispus Attucks Tigers and their amazing coach, Ray Crowe, is finally being shared with the nation. On April 27, “Something To Cheer About,” the documentary that chronicles the triumphs and travails of the Attucks teams of the 1950s, opened in nine markets: New York; Los Angeles; Chicago; Detroit; Washington, D.C.; Atlanta; Minneapolis; Dallas; and,…

LEGAL: Don’t be trapped by ‘talent’-redefine it instead

To succeed at the highest level, businesses must redefine talent. Our wellmeaning quests for the best and brightest talent frequently lead us into painful traps. The Indiana Pacers have proven this point in dramatic fashion in recent years. Take the Ron Artest saga. Artest is an immensely talented athlete and clearly one of the top players in the NBA, but had highly publicized problems. No doubt his talent brought him many more chances than the 11th player on the roster…

Comcast poised to debut business phone service: Cable giant, already a player in residential market, plans to use low prices to win customers from AT&T

The turf war between what used to be clearly defined as phone and cable companies will heat up this summer, when Comcast Corp. plans to launch phone service to businesses in the metro area. Philadelphia-based Comcast already offers residential phone service and highspeed Internet to most of its Indiana customers. Those have long been the bread and butter of phone giants such as AT&T. In the tit-for-tat nature of the blurring product offerings between cable and phone, AT&T late last…

Emmis structure is good for city: CEO’s clout helps avert buyout

It’s easy to understand why investors are grumbling about Emmis Communications Corp. CEO Jeff Smulyan. The company’s stock has tumbled in recent years, and some of the ways Smulyan has been choosing to use the company’s capital look misguided. Last year, for instance, Wall Street booed when Emmis helped back Smulyan’s ultimately unsuccessful bid to buy the Washington Nationals baseball team. And, with the benefit of hindsight, the company in 2005 woefully overpaid when it spent $395 million to buy…

Cummins shares explode after earnings report

Stock in Cummins Inc. shot up as much as 24.7 percent this morning following a positive first-quarter earnings report. At noon, the shares had settled retreated from a peak of $107 to near $100—still a huge run-up compared to yesterday’s closing price of $85.99.. The Columbus, Ind., diesel engine maker said profit rose 5.9 percent, […]

Indiana Toll Road pass peeves Illinois residents

Chicago south-siders are riled that the discounts they enjoy driving the Indiana Toll Road are scheduled to vanish in June, while discounts Indiana residents receive for driving on the Illinois leg of the highway will continue. The General Assembly last year gave holders of Indiana’s I-Zoom passes a 40-percent discount until 2016 when it approved […]

Pernod to lay off 405 in Lawrenceburg distillery.

Pernod Ricard USA, the French owner of a 150-year-old distillery and bottling plant in the southeast Indiana city of Lawrenceburg, has notified the state that it will lay off 405 workers by June 26. Details were not immediately available. Dearborn County Commissioner Jeff Hughes said he had not heard about the layoff. The plant distills […]

Fun with renderings

This is one of four proposed projects for an acre of state-owned land along the canal between Ohio and New York streets. What do you think? Property Lines has been asking for…

Carmel electric power marketer to expand.

Alliance for Cooperative Energy Services announced today that it will add 25 jobs to the 113 employed at its Carmel headquarters and spend $4 million to update equipment. Fifteen electric power cooperatives own the wholesale energy risk management and transaction executive firm, which was founded in 1999. The state is giving ACES up to $188,000 […]

Simon profit declines; funds from operations rise

First-quarter profit fell nearly 8 percent, to $113 million, for Indianapolis-based Simon Property Group because it no longer derives income from Mall of America, the Minnesota location it sold last year. However, funds from operations, a common measure of real estate investment trusts like Simon, increased 9.3 percent to $392.4 million.

Cummins profit rises on power generation

Columbus diesel engine maker Cummins Inc. today reported a 5.9-percent increase in first-quarter profit from the same period a year ago. The $143 million in net income was driven mostly by its electrical power generation and distribution business. Sales of engines for heavy trucks declined due to trucking firms’ stocking up on trucks before new […]

Indiana State to eliminate about 64 programs

Too many academic programs with too few students are diluting Indiana State University resources, its trustees believe. So, the board is following through on a plan to cut the number of programs to about 150 from the current 214, according to The Tribune-Star of Terre Haute. A review found that half of the programs attract […]