Musk cannot keep Tesla pay package worth more than $55B, judge rules
The ruling comes more than five years after a shareholder lawsuit targeted Tesla CEO Musk and directors of the company for unjust enrichment.
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Bill to undo Mile Square property tax passes House with support from Speaker Todd Huston
As an alternative, the House approved a separate measure that would allow the City-County Council to increase the countywide local income tax by .02% to help pay for the operating costs of a homeless shelter and various improvements in the city’s Mile Square.
Bill to limit foreign ‘adversaries’ from buying Indiana farmland advances in House
The proposal builds on a previous measure passed in the 2022 Indiana legislative session, which limited foreign entities from buying more than 320 acres in Indiana for crop farming or timber production, among other restrictions.
Banks calls on Carmel to withdraw from Chinese sister-city agreement
The rebuke from U.S. Rep. Jim Banks came after a Washington Post report that former Carmel Mayor Jim Brainard had traveled to China before he left office last year. Banks warned that sister-city agreements can unduly influence U.S. cities to support problematic Chinese policies.
Housing affordability near record low hits Black buyers particularly hard
Almost half of Black home buyers in 2022 were first-time buyers, and newcomers haven’t benefited from the rising home equity that could help defray swelling sale prices and lending costs.
Tired of hostile Washington, China courts Indiana and Minnesota
| The Washington Post and IBJ Staff
Chinese officials are seizing on opportunities to forge ties with mayors and other local American leaders, the kinds of connections that give Beijing leverage against an increasingly hostile government in Washington.
Logistics firm closing Indy facility, laying off 110 workers
Tennessee-based Kenco Logistic Services LLC did not specify to state officials why it decided to close the facility at 202 S. Belmont Ave. The layoffs are scheduled to occur on March 19.
UPS to cut 12,000 jobs as revenue outlook for year disappoints
CEO Carol Tome said Tuesday that by reducing the company’s headcount UPS will realize $1 billion in cost savings. The job eliminations are anticipated to be among management roles and contractors, the company said.
Legislation to regulate huge water withdrawals won’t get a hearing, but farmers could win some protections
Bills inspired to regulate potential plans to withdraw as much as 100 million gallons of water a day from Wabash River aquifers won’t get a hearing in the Indiana House or Senate, but Republican leadership appears open to adding some protections for farmers’ water wells.
American consumers feeling more confident than they have in two years
The consumer confidence index, which measures both Americans’ assessment of current economic conditions and their outlook for the next six months, is at its highest level since December of 2021.
Indiana legislation would add extra verification steps to prove voters are eligible
Voting advocates say the proposal approved by the House could make it even tougher for some people to vote.
Menswear store to move to newly purchased downtown building with addition in the works
A couple whose custom menswear shop was looted during the 2020 downtown protests have doubled down on East Washington Street.
DJ-producer Excision unveiled as headliner for Indy 500 Snake Pit concert
The infield party on May 26 will showcase five DJs in total before and during the 108th running of the Indy 500, track officials announced Tuesday.
Bills on puppy sales, child labor, happy hours, firearms and more advance from House
| Leslie Bonilla Muñiz, Indiana Capital Chronicle and Casey Smith, Indiana Capital Chronicle and Whitney Downard, Indiana Capital Chronicle
Amid a fleet of bills passing to the Senate, Indiana’s House of Representatives on Monday narrowly approved a bill setting state regulations for dog breeding and sales—including random pet store and dog breeder inspections.
IU received $772M in sponsored research awards in 2023
The total marks a $42 million increase over the previous year and includes research funding for health initiatives, drug treatments and efforts to enhance civics education.
Westfield City Council approves creation of parks department, board
Westfield is the only city in Hamilton County that does not have a standalone parks and recreation department, which has stymied opportunities to obtain state and federal funding.
Bill that targets Blue Line clears Indiana Senate, casting doubt on planned bus route
Republican Sen. Aaron Freeman said the bill will give a state task force the chance to study the benefits of shared bus-car lanes versus dedicated bus lanes, but opponents say it’s a deliberate attempt to kill the project.
Indiana’s health care and life sciences sector sees VC funding drop 54% in 2023
Thirty-four Indiana companies landed $287 million in venture capital in 2023 to help finance a wide array of technologies, from medical isotopes to stem-cell therapies, according to BioCrossroads, an Indianapolis-based group that promotes and invests in the state’s life sciences sector and tracks the funding.
Lt. Gov, lawmakers call on FSSA to pause Medicaid cuts for parents of disabled children
Following a specially called meeting to review a list of several proposed changes to Medicaid, stakeholders seemed dissatisfied with the agency’s explanations and urged FSSA to halt its cuts.
With rebranding, Indy’s largest private company launching first-ever ad campaign
The “refresh” aims to address a key challenge—public misperception as to what OneAmerica Financial actually does.
