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EYE ON THE PIE: Taxes are toys for legislators

“I don’t believe you,” Carolyn Cornpone laughed. “It’s true,” I said. “Some members of the Indiana General Assembly have proposed tying property taxes to the income tax.” “But,” she said, “that makes no sense. They already intend to raise state and local income taxes just to pay for the property-tax relief they are currently considering.” “Who said Hoosier legislators have to make sense?” I asked. “All they think they have to do is posture for votes.” “Whatever happened to the…

Open-wheel reunion creating more business opportunities

In the end, the catastrophic sponsorship shift from open-wheel racing to NASCAR became too much to ignore, driving the long-divided
sides of Champ Car and the Indy Racing League back into a unified series.

Centaur tempted to buy Aztar casino

Indiana riverboat casinos don’t go up for sale every day. So when one becomes available, it’s bound to spark interest. Hence,
the dilemma facing Centaur Inc., the Indianapolis-based casino developer.

Commentary: Morris: From hunger to hoops

How do you go from fighting world hunger to polishing the tarnished image of an NBA basketball team? That’s the task at hand for Jim Morris, who said to a recent breakfast gathering, “I reached a point in my life when I realized that nothing I would do going forward would be as important as what I just did.” I suppose a number of us reach a similar place in our careers when we realize we have “hit the peak”…

Browning eyes airport land

Browning Investments is contemplating developing a business park just north of Indianapolis International Airport in what
would be the largest development to date in the so-called Minnesota Street corridor.

Rug dealers’ going-out-of-business sales aren’t always what they seem

Phony going-out-of-business sales long have plagued Oriental rug retailing here and across the country, dealers say. The industry
is susceptible because Oriental rugs can cost thousands of dollars, and many consumers lack the expertise to judge whether
a rug’s quality matches its price.

State goes from first to last in catastrophes: Indiana sails through 2007 without a single large weather event, rebounding from hailstorm of claims in 2006

Indiana weather is notorious for the volatile swings it can produce from one day to the next. Just this month, high temperatures in Indianapolis fluctuated about 40 degrees within 48 hours. The disparity in major storm damage that befell the state the past two years is quite unusual, though, even by Hoosier standards. Statewide property losses totaled $1.5 billion in 2006, the most in the nation, due in large part to what’s become known as the Good Friday hailstorm. Last…

Bill to help prosecution of environmental crimes dies: State continues to use fines as feds seek jail time

A bill that would have removed hurdles to state and local prosecution of environmental crimes has perished in committee, leaving the federal government virtually alone as the sole seeker of jail time for the worst offenders. With the demise of Senate Bill 199, the Indiana Department of Environmental Management will continue to resolve most pollution cases through civil penalties rather than bringing criminal charges. Last year, IDEM assessed $5.2 million in civil penalties, down from $7.75 million in 2006 but…

Legislature set to give tax breaks to big events: NCAA asks for ‘super’ perk that NFL already requires

Lawmakers last year approved a bill that would have given the NFL a onetime tax break on spending and revenue tied to the 2011 Super Bowl, a moot point once team owners awarded the game to Dallas. Now, similar legislation has passed both chambers of the General Assembly-this time extending the exemption to the NCAA, which has committed to hosting its Final Four basketball championships in Indianapolis regularly through 2039. If signed into law, the measure would allow the NFL…

Knight’s ESPN deal draws reaction

Not surprisingly, not everyone is thrilled with former Indiana University and Texas Tech basketball coach Bob Knight joining ESPN’s in-studio crew for its NCAA March Madness coverage. Knight’s move to the media…

Penn Centre delayed but not dead

Construction won’t begin on the ambitious Penn Centre proposal for at least a few more months, but the project still is a go, said developer J. Greg Allen, who also…

Will Ferrell gives bounce to ABA

New Line Cinema today is releasing its latest feature film, giving a comedic glimpse of life in the American Basketball Association. Will Ferrell plays Jackie Moon, an ABA player-owner trying to break into…

Kid stuff the focus for new theater

In yesterday’s IBJ Daily A&E e-mail, I discussed the Children’s Theatre Institute at the Junior Achievement Center, which officially opens its doors tonight with a party and performance of “Treasure Island.” The company promises a full slate of kid-centric productions,…

“The Other Boleyn Girl”-your reviews

So what’s your verdict on Thursday evening’s IBJ Night at the Movies film “The Other Boleyn Girl”?  

(Sorry I couldn’t make it.)

Your thoughts?

Pacers deal with more bad press

A throng of media members besieged Indiana Pacers players and front office executives after the team’s practice today at Conseco Fieldhouse, seeking comment about the latest off-court incident involving a Pacers player. This…

In motorsports, does 1+1=3?

Does Gov. Mitch Daniels’ anointing of auto racing industry veteran Rollie Helmling as the state’s motorsports development director–or the unification of the Indy Racing League and Champ Car–create more motorsports business opportunities here? While state officials say yes, others in…

UPDATE: Lilly shares slip following Zyprexa news

Shares of Eli Lilly and Co. fell this morning after the company announced regulators had rejected its application for a long-acting, injectible version of its best-selling drug, Zyprexa. Lilly’s stock price fell roughly 2 percent, to $50.73. The U.S. Food and Drug Administration said in a “not approvable” letter that it needs more information on […]

Reviews, previews, blogs, etc.

While this blog has loads of readers (110,000 page visits in January.), I’ve found, anecdotally, that that number includes some who know little about IBJ’s other arts and entertainment coverage.

So I thought I’d take today’s posting and give you a…

Europe, Asia fuel Hurco profit

Profit at Hurco Cos. Inc. soared 45 percent in its first fiscal quarter on a surge in sales in Europe and Asia. The Indianapolis-based machine tool maker reported $7.8 million in profit in the quarter ended Jan. 31. About 10 percent of the $60.9 million in sales resulted from a weakened dollar. A cheaper dollar […]