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Richest soon may assume larger share of tax burden: BULLS & BEARS

The rise in property taxes and a doubling of the Marion County income tax have residents steaming. Yet as IBJ columnist Ron Gifford noted in his column last week, you can argue about which taxes legislators should increase-whether on property, income or sales-but the fact is that governments need more revenue, and, therefore, a variety of taxes are rising. Paying tax is not the most pleasant of human endeavors. However, in a capitalistic society, taxes are necessary and, when applied…

Retailer’s growth plan boon for Plainfield facility: Dick’s Sporting Goods’ strategy to expand west will push inventory through local distribution center

Dick’s Sporting Goods’ aggressive nationwide growth plan will mean about 400 new jobs at the retailer’s Plainfield distribution center, industry experts said. Last month, Pittsburgh-based Dick’s rolled out a plan to grow from 309 stores to 800 nationwide within seven years. The plan includes growing from zero to 90 stores in California, two to 60 in Texas, and two to 40 in Florida. “Their expansion plans are so aggressive, they’re eventually going to have to open another distribution center, but…

Physician assistants taking on larger role: New law allowing prescribing power makes profession more appealing

Indiana’s physician assistants received a collective shot in the arm earlier this month when their authority to prescribe medicine to patients became effective. The profession had long lobbied lawmakers for the right before the Legislature relented with the passage of House Bill 1241 this year. July 1 officially marked the milestone in which Indiana became the last state in the nation to grant prescribing powers to physician assistants. “It’s the right thing to do,” said Dr. John Lucich, director of…

Industry takes deep breath over ozone: Tougher EPA standards could force costly emission controls, choke economic growth

Just when the nine-county metro area appeared back in the good graces of the federal government where ozone levels are concerned, the feds want to tighten the standard once more. Manufacturers and other businesses that pump pollutants into the air that combine with sunlight to produce ozone are “apprehensive” about the proposed new rules, said Patrick Bennett, vice president of environmental, energy and infrastructure at the Indiana Manufacturers Association. Businesses in non-attainment counties face possible restrictions on expansion of facilities…

SPORTS: Tennis tourney healthy but needs a new home

A significant Indianapolis sporting event with international appeal is preparing to celebrate its 100th anniversary in 2011. The Indianapolis 500? Well, yes, that too. Far less-wellknown and recognized is that the origins of elite-level competitive tennis in Indianapolis also date back to just after the turn of the century … the last century, that is. Records show that the Western Tennis Championships, which led to the U.S. Clay Court Championships, which led to the U.S. Hardcourt Tennis Championships, which led…

MICKEY MAURER Commentary: Should trysts sink a career?

“There is a crack, a crack in everything. That’s how the light gets in.” – “Anthem,” by Leonard Cohen How outrageous does executive behavior have to be before it should be deemed unacceptable by corporate America? Are we experiencing a trend toward greater scrutiny of our executives’ personal lives and is this a good idea? What should be the peccadillo standard for the executive officers of public companies? Witness the recent forced resignation of David Colby, chief financial officer and…

Star to continue stand-alone business section

Last month, word got out that The Indianapolis Star had decided to fold the newspaper’s business section into the Metro&State section. Industry experts called the move a cost-saving measure, while Star officials said it was a matter of looking for better ways to get news to its readers. Upon further review this month, Star officials […]

Take a tour of Glendale

Property Lines recently took a tour of the Glendale Mall construction site and got an update on progress. Check out a photo gallery of the tour and the latest rendering

IU grad Cuban applies to buy Chicago Cubs

Mark Cuban, the Indiana University business major who went on to become a billionaire and buy the Dallas Mavericks basketball team, has applied to Major League Baseball as a next step in his interest in buying the Chicago Cubs, according to the Dallas Morning News. Several other people, including John Canning, who runs a Chicago […]

Dutch court clears way for LaSalle Bank sale

The Netherlands’ supreme court has ruled that ABN Amro Holding NV is not required to seek shareholder approval to sell its LaSalle Bank unit. Today’s decision clears the way for the sale of LaSalle to Bank of America, of Charlotte, N.C. LaSalle Bank, headquartered in Chicago, has virtually no retail presence in Indianapolis, instead focusing […]

Plan for Midtown project wins preliminary endorsement

A hearing examiner for the Metropolitan Development Commission today recommended approval of zoning changes requested by developers of Tower House on Meridian. The recommendation reflects agreements with nearby broadcasters WISH-TV and WFYI addressing the proximity of their satellite towers to the project. The proposal, from locally based Inner-Urban Homes & Hospitality, incorporates the existing Grain […]

Conseco might shift up to 150 local jobs to Minnesota firm

Up to 150 of Conseco Inc.’s 2,300 Carmel employees could see their jobs transferred to a Minnesota company under a plan being considered by company executives. Transferred employees would continue to work either out of Conseco’s offices or nearby. Conseco announced Thursday afternoon that it might shift a call center and some claims for its […]

2 local businesses bid farewell

A couple of prominent local businesses have shut down in recent weeks. Corner Gourmet at 1474 W. 86th St. apparently has closed. The phone numbers for both the shop and owner…

Alcoa shares surge on takeover speculation

Alcoa Inc. stock today shot above $45 per share, an increase of nearly 7 percent, on further speculation the company will be acquired, possibly by Australian mining giant BHP Billiton Ltd., according to Bloomberg. The runup in shares of Pittsburgh-based Alcoa followed an announcement that Rio Tinto Group, a mining company based in London, had […]

UPDATE: Experts say loss of race hurts both F1, Speedway

Motorsports experts are divided over who is the biggest loser after the announcement that Formula One will not return in 2008 to Indianapolis Motor Speedway. “The Speedway loses one of the world’s marquee global motorsports events and F1 loses out on one of the world’s largest markets for its teams and corporate partners,” said Tim […]

Developer offers big bucks for homes

A developer is negotiating individually with 77 condo owners to buy a community called Lakes at the Crossing that sits near the Fashion Mall. Gershman Brown & Associates has…

Other builders unlikely to follow KB out of Indy, experts say

KB Home Inc. probably will be the only national builder to abandon the Indianapolis-area market, local observers say. Dallas-based Centex Corp., Pulte Homes Inc. of Bloomfield Hills, Mich., and Beazer Homes USA, headquartered in Atlanta, are even more likely to stay now that KB is leaving, said Steve Lains, CEO of the Builders Association of […]

Ethanol glut could hurt plant prospects

Demand for new ethanol plants, of which Indiana has 20 planned or operating, could already be drying up. Aventine Renewable Energy, a Pekin, Ill., ethanol producer whose shares have fallen 35 percent this year, said a year-long price slump caused by a glut of the fuel additive might last two more years. U.S. ethanol prices […]

Tax push chases Indy firm from Illinois

Locally based Royce Inc. has sold its Illinois consumer-finance business to World Acceptance Corp. of Greenville, S.C., to avoid the prospect of paying a gross-receipt tax. Illinois Gov. Rod Blagojevich is pushing for the tax in a heated battled with the Legislature over the 2008 budget. Such a tax would be too great of a […]

Moody’s considers cutting Lilly debt rating

As early as next year, Moody’s Investors Service could lower its debt rating on Eli Lilly and Co. because of the looming patent expiration of Lilly’s top-selling drug, Zyprexa. In a quarterly snapshot of the drug industry, Moody’s said it will take a hard look at any pharmaceutical company with a blockbuster drug set to […]