JULY 26-AUG. 1, 2010
This week, see how the state balanced its budget this year—and why lawmakers already are gearing up for the 2011 General Assembly—and find out how the Indianapolis Indians are faring off the field. In Focus, read about why Gov. Mitch Daniels is taking heat for cutting costs. And in A&E, get Lou Harry's take on an artist's broken records.
Front PageBack to Top
Lawsuit targets Simon’s leasing tactics
One of Indiana’s largest privately held developers is suing Simon Property Group Inc., alleging the nation’s largest
mall owner abused its “market power” to bully two national retailers into backing out of leases at a lifestyle
mall near Mishawaka.
Local investors make big bet on senior housing
With the first baby boomers set to turn 65 in six months, investments in senior housing are heating up. A group of Indianapolis-area
professionals—including Mark Waterfill (left) and Tony Schantz—have banded together to launch three senior housing
projects around the state, spending $49 million and looking
to do more.
High-end home market hits foreclosure lull
Until this year, Indiana’s foreclosure epidemic knew no demographic boundaries. But suddenly that’s changed. Since March,
not a single foreclosure on a house priced at $1 million or more has been filed in the Indianapolis area—a possible
sign of better times for uber-expensive homes.
Top StoriesBack to Top
Big budget cuts will make for bitter state politics
As Indiana’s reserves dwindle toward zero and federal stimulus money disappears, trying to keep political debate friendly
and the budget in the black will be quite a challenge. Half a year before they must craft the next state budget, Democrats
and Republicans already are squabbling.
Federal agents’ raid hits University Loft at tough time
Military contracts have helped shore up sagging sales at University Loft Co., the furniture maker federal agents raided two
weeks ago. Still, University
Loft’s work force is almost 50 percent off its recent peak.
Indianapolis City Ballet organizers proceeding slowly
Local arts patrons Jane Fortune and her longtime partner Robert Hesse started City Ballet in the spring of 2009, but it was
more of a pitch than a reality. More than a year later, organization leaders are still not sure when they will hire their
own dancers.
Retailers gain upper hand in negotiations with landlords
Shop owners realize that landlords, already facing rising vacancies, are sometimes willing to sacrifice financially to keep properties filled and vibrant.
Read MoreIndianapolis Indians scoring sponsorship, attendance increases
Minor-league baseball team could be in line to register another $1 million profit thanks to improvements in sponsorship sales
and attendance.
Mind Trust education fund launches national network
The organization uses its money to lure national reform programs like Teach for America to the city and to fund education entrepreneurship fellows to launch innovative programs for schoolchildren in Indianapolis.
Read MoreIndianapolis Star to be laid out in Louisville; local jobs likely lost
Virginia-based Gannett Co., the Star’s parent company, this month informed employees of a plan to move layout
and design work for its 83 dailies to five regional design hubs.
FocusBack to Top
Daniels criticized for lopping costs on I-69 extension
Detractors of new-terrain route say cost cuts undermine economic development premise for extending the interstate.
Read MoreOpponents claim I-69 extension a drain on other road projects
Some opponents of the Interstate 69 extension says it’s not too late to kill the project even
though concrete has been poured for two miles in southern Indiana, and another 60 miles or so is under construction or in
an engineering phase.
‘Landstory’ name opens new chapter for firm
Moniker reflects ownership change years earlier, better description of company's focus.
Read MoreSHOUP: Emancipation is near for independent contractors
State regulators are gearing up to crack down on companies thought to be treating people as though they are independent contractors
instead of employees.
Local building permits drop; national home building falls
Locally, the number of building permits filed in the nine-county Indianapolis area fell by 20 percent in June while home construction
plunged nationally to the lowest level since October.
Building demolition to begin along Interstate 69
Bulldozers await an office complex that previously served as headquarters to August Mack Environmental. It’ll be the first
building demolished along Interstate 69 to make way for highway expansion.
OpinionBack to Top
EDITORIAL: Timid talk won’t stop violence during Indiana Black Expo
The violence that sometimes erupts on the streets of downtown during Summer Celebration’s final weekend can no
longer be tolerated.
MAURER: Low barriers to entry breed business competition
Based primarily upon hard lessons learned, I developed “The Ten Essential Principles of Entrepreneurship that You Didn’t Learn in School”—at least I didn’t learn them in school. This is Lesson 2.
Read MoreMARCUS: Is suburbia the root of all evil?
Once upon a time, school transportation eased the journey of farm kids going to school. Today,
it’s a massive subsidy for suburban kids whose parents have chosen to live far from a school in a place without sidewalks.
GROSSMAN: Bill Gates wants to spend your money
Just as the government built an atomic bomb during World War II, the government should spend billions of dollars to create
the energy innovations for a low-carbon economy, according to Gates and friends.
SKARBECK: Financial overhaul law leaves much uncertainty
The public, to no surprise, is skeptical that the new regulations will succeed. A Bloomberg poll shows nearly four out of five Americans have little confidence the measures will prevent a crisis.
Read MoreHICKS: What we can learn from forecasting blunders
It begs the question, just what should economists be expected to know and how should we explain it?
Read MoreEmployees drive company success
Mickey Maurer’s [July 12] column on choosing the right people is so “right on.”
Read MoreMaurer’s employee column was spot-on
Without a doubt, it is
people that will either make or break you. Their success will absolutely determine yours.
Fieldhouse could have life without Pacers
The IBJ and others keep repeating that, should the Pacers leave, the city would be stuck with paying $14 [million]-$18
million a year in fieldhouse operating costs. Are you all assuming the facility will sit vacant? Come on.
Keep government hands off of Internet
Tim Altom, in his July 19 column, replays the tired populist argument in favor of Net Neutrality, while furthering the myth that government regulation magically makes things “fair.”
Read MoreDallara will further Speedway renaissance
Bringing Dallara to Speedway is a big win, not only for the Indy Racing League but for the town of Speedway and the Speedway
Redevelopment Commission.
In BriefBack to Top
Medicare driving health care hookups
The scramble by local hospitals to form their physicians and facilities into “clinically integrated” networks
that can do business with employers and health insurers has another huge motivating factor: Beginning January 2012, they can
also do business with Medicare, the massive federal program for seniors.
International Violin Competition of Indianapolis releases iPhone app for virtual front seat
The app will feature news, past laureate recordings, videos and access to the 2010 schedule, IVCI officials said.
Read MoreHabitat for Humanity builds green house in Cottage Home historic neighborhood
The house in the 1300 block of East Ninth Street is the first low-income home in the state to achieve platinum LEED certification.
Read MoreRipple Inn, Sinking Ship among new restaurants planned
Among the four eateries on the way, two are local ventures and two are chains.
Read MoreIndianapolis native Marie Johns named SBA deputy administrator
The U.S. Senate recently confirmed her appointment to the No. 2 job.
Read MoreFuzzy Zoeller’s vodka firm sponsors Tony George’s Vision Racing
Financial terms of the deal were not released, but motorsports business experts said it was a six-figure deal.
Read MoreWolf Technical Services wins Army Corps contract
The company has been hired to refine technology that detects whether a vehicle might be carrying suspicious cargo, including
explosives.
PROXY CORNER: WellPoint Inc.
WellPoint Inc. is one of the nation's largest health insurance companies and sells its products primarily under the Blue Cross Blue Shield brand name.
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