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STATEHOUSE DISPATCH: Legislators avoiding games as they tackle tax reform

People outside the legislative process finally are understanding that there is no perfect solution to the property tax reform dilemma, that it is not a zero-sum game, that there will be winners and losers, and that this is not a Democrat vs. Republican issue. What they still do not realize is how hard legislators are working to accommodate the legitimate concerns of homeowners, governmental units and schools, businesses, and agricultural interests, and how difficult it is to assemble a package…

INVESTING: How to remain rational amid market’s turmoil

We can let the mar ket mouthpieces and economists debate whether we are offi cially in a bear market or a recession, but investors don’t need labels to know times are tough. One year ago at this time, the financial world was idyllic Credit was cheap and plentiful. The largest private equity takeover in history was nearing completion, with Sam Zell selling his Equity Office Properties for $40 billion to the Blackstone Group (signaling the market top for real estate…

New Zyprexa lawsuit targets Lilly honchos: Shareholders ask directors, officers to pay company

The latest shareholder lawsuit against Eli Lilly and Co. over its drug Zyprexa gets personal. The shareholders blame Lilly’s board and top brass, both past and present, for what they call Lilly’s illegal marketing of Zyprexa. In all, the lawsuit asks 18 directors and officers to pay the company for at least the $1.2 billion it has spent to settle Zyprexa lawsuits and to return all compensation they received during an unspecified period when the marketing took place. They name…

SPORTS Bill Benner: Dungy gets career-and game-advice from above

Yes, Tony, I knew it was you. I’m God, remember. Well, God, it’s that time of year again. End of the season. I’ve got you on my daytimer … in pen. Same time every year. The job, Tony? Yes, God, the job with the Colts. Do I stay or do I go? Well, Tony, as you know, I’m the Big Picture Guy. I can try to guide you, but I can’t tell you what to do. It’s that whole free-will…

Mayor proposes city office to track progress of students

Mayor Greg Ballard says the status quo isn’t good enough anymore when it comes to educating Indianapolis children. So heis
proposing what he’s calling a big, bold idea in education: Provide help to every student who needs it, not just the ones who
ask for it.

Busy year, no whoppers: Deals were numerous in 2007, but lack of blockbuster holds overall price tag down

The Indianapolis area didn’t experience a monster-size business transaction in 2007 like it has in recent years, but that doesn’t mean the deal-makers weren’t busy. IBJ’s annual list of Big Deals tracked more large business transactions involving Indianapolis-area companies than ever before in 2007, even though the total dollar amount of the deals was dramatically lower than the previous year’s. Deals compiled by the Indianapolis Business Journal that closed in 2007 totaled $23.4 billion, well below the $38.5 billion posted…

Local builders slash jobs, offices to survive housing slump

At the market’s peak, builders churned out more than 12,000 new homes a year in central Indiana. In the current slump, new-home
production has dropped to fewer than 7,000 per year, leaving builders with no choice but to slash prices, eliminate hundreds
of jobs, and look to unload huge chunks of office space.

Pacers falls into last place in NBA home attendance

The Indiana Pacers
have hit rock bottom. This month, the team slipped into last place in average home attendance among the 30 National Basketball
Association teams, falling behind the New Orleans Hornets, a team that is selling tickets in an area still ravaged by Hurricane
Katrina.

VIEWPOINT: Legislation could make Indiana unwelcoming

Anxieties about immigration legislation introduced this session are growing. If the bill passes, businesses that “knowingly” hire undocumented workers will face harsh penalties: threeyear probation for companies found to have hired undocumented immigrants; for a second offense, loss of the firm’s license to do business in Indiana. And it would be a misdemeanor to transport, conceal or harbor an unauthorized immigrant; a second offense would be a felony. The law would require the Indiana attorney general to investigate complaints against…

ECONOMIC ANALYSIS: Why subprime ‘crisis’ is not as severe as it seems

Over the next few years, quite a few doctoral dissertations are going to be written about the subprime loan market, and its effects on the overall U.S. economy. And whatever the effects turn out to be, it is certain that this financial mess has all the twists and turns of a spy novel. Here is part of the plot: Over the past decade and half, home prices skyrocketed. The causes included rapid growth in the U.S. economy, aging baby-boomer purchases…

EDITORIAL: State negligent on smoking ban: Lawmakers sidestep serious issue

State negligent on smoking ban Lawmakers sidestep serious issue We’d like to think the demise of Rep. Charlie Brown’s bill that would have banned workplace smoking statewide was just another casualty of the property tax reform wave. More likely, the bill died because our legislators don’t have the will to tackle the sad state of Hoosier health. Brown’s bill died in a House committee Jan. 23 after a brief hearing in which testimony on the bill’s behalf was cut off…

Financial troubles mount for local developer: Memo: Unpaid contractors are demanding payment

Premier Properties USA Inc. is scrambling to keep up with bills for basic services including snow removal, security and interior design-more signs of financial troubles for the developer of Metropolis in Plainfield and the proposed Venu project in Indianapolis. The local firm is facing liens of more than $3.5 million for unpaid work on its Plainfield retail properties, and an internal e-mail obtained by IBJ suggests Premier’s problems don’t stop there. The e-mail, from Premier executive Mike Diamantides, says pressure…

Indianapolis entrepreneur finds way to combine exercise and work

Jerry Carr studied turf at Purdue University-how to grow some of Mother Nature’s best and how to design the artificial kind. After graduation, his jobs mostly kept him outside and active. But when he moved into a desk-bound sales job in 2006, he noticed more than the inevitable weight gain. “I couldn’t wait to exercise at the end of each day,” said Carr, 47. Feeling restless and unfocused, he brought a treadmill into his office. But he found that switching…

NOTIONS: Let’s recognize that age has little to do with ability

The U.S. presidential campaign ran headlong into Martin Luther King Day last week. On the Democratic side, where the leading candidates are a white woman, Sen. Hillary Rodham Clinton, and a black man, Sen. Barack Obama, the juxtaposition triggered pointed conversation-between the candidates and among their advocates and the electorate-about race and gender. Lost in the point/counterpoint on the candidates’ DNA were some less-noted but equally unfriendly jabs on the subject of age. Speaking at an MLK Day ceremony in…

Commentary: When money just isn’t enough

The other day, I was annoyed when I received a letter concerning my uncle’s untimely death. The letter began: “As you know, our firm represents Illene Maurer as a result of the tragic death of her husband, Mickey Maurer, on Feb. 1, 2006. … Mr. Maurer’s death was as a result of an automobile collision that occurred at 106th Street and Meridian Street. “One of the elements of damage that Illene Maurer is entitled to recover is the loss of…

BEHIND THE NEWS: Pending IPOs bode well for tech startups of tomorrow

Initial public offerings often are bonanzas for company management and other insiders. In the case of Aprimo Inc. and ExactTarget Inc. -two Indianapolis software firms on deck to go public-a throng of local business and technology leaders who provided early financial backing would see a rich payoff as well. Filings with the Securities and Exchange Commission show the companies snared as investors a who’s who of Indianapolis business, from former venture capitalist Bob Compton to financial adviser David Knall and…

Public offerings rise in ’07: Three Indiana companies hit turbulence after IPOs

The market for initial public offerings in Indiana was on the upswing last year, as the number of companies to go public tripled, from one in 2006 to three in 2007. Locally based HHGregg Inc., Kokomobased Haynes International Inc. and LaPorte-based LaPorte Bancorp. Inc. became publicly traded. The fact that three more companies in Indiana became public doesn’t represent a trend. But four others that have filed IPO registration statements with the Securities and Exchange Commission bolster the belief that…

Firm that sells sunglasses for large heads lands Wal-Mart deal

In March 2006, USA Today picked up a local newspaper’s profile of Indianapolis-based Fatheadz Inc., the company Rico Elmore
and two partners founded in 2005 to sell eyeglass frames for larger heads. That eventually led to the company’s big break:
A Wal-Mart Stores Inc. executive read the article and ordered buyers to track down Fatheadz to make a deal.

A&E: Do you take this musical?

Let us now give two cheers to the good-enough musical. The good-enough musical usually has some fun songs, some laughs and maybe a sweet moment or two. The good-enough musical demands very little of its audience. The good-enough musical may do OK on Broadway despite harsh words from the critics, but it has a longer life in regional theaters, and community productions. The good-enough musical depends on a good-enough production to work. When it’s got one-and your expectations aren’t too…

Lawmaker wants car owners to be aware of data recorders

The “event data recorder,” a so-called black box car makers have installed in their cars over the last decade and a half as
part of air-bag systems, can be a double-edged sword for motorists. Yet they likely don’t even know it’s spying from under
their seat or dashboard.