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VIEWPOINT: Why did we allow gambling to seduce us?

The money is seductive: an “easy” $1.6 billion. That’s what gambling brought to Indiana in taxes this year. The prize might not be as big in 2008. There’s new competition. And a big drop in gambling revenue would spoil the negotiations that all the nervous Indiana politicians have been doing. Their jobs are on the line, and they know it. Hoosiers are embarrassed. They don’t like that. I have a beautiful picture of two of my children standing inside the…

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Can state catch up with Indy?

Decades ago, when Indianapolis was an industrial center, the economies of the city and the state tended to
march in unison. When manufacturing cut back, pretty much everyone felt it.

But the Indianapolis area and the state have been growing apart…

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Count ’em: two IPOs

Itâ??s been awhile since the Indianapolis area has had two initial public offerings in the works at the
same
time, but thatâ??s exactly what we have. And theyâ??re software firms to boot â?? businesses Indianapolis
and other
Midwestern cities have…

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INVESTING: Now may be good time to buy small banks

Are Indiana bank stocks on sale? Performing a cursory analysis on the list to the right of this column, an investor could answer that question with a qualified yes. It is noticeable that the Indiana stock list is populated with a good number of small com- banks. of these bank stocks pay attractive dividends, sell below their book values, and are trading at prices near multiyear lows. For example, there is River Valley Bancorp of Madison. River Valley’s stock is…

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NOTIONS: Read my lips: No taxes whatsoever. Nada. Zip.

I was driving through the Meridian-Kessler neighborhood when I spotted the sign. It was posted in the manicured front lawn of a brick bungalow on a wooded corner lot. It said: “Stop taxing our property.” At other nice houses up and down the same tree-lined street, other signs dotted other manicured lawns. Many of them bore the same message: “For Sale By Owner.” Below that, the signs cited the purported cause of the alleged listings: “excess taxation.” I had the…

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Biz issues move to back seat: Property-tax reform leaves little time for other work

Reforming the state’s property tax system will consume so much of the legislative session that the Indiana General Assembly isn’t expected to give much attention to other issues pertinent to the business community. Compounding matters is the fact that the session, which runs from mid-January to mid-March, is of the short variety, meaning legislators have less time to debate issues than they would during the long, odd-year meetings. “I think [property tax reform] is the most intense and voluminous issue…

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EDITORIAL: ‘Tis the season to help others: Don’t forget charities when giving

‘Tis the season to help others Don’t forget charities when giving If our early December snowfall didn’t get central Indiana’s bells jingling, the overflowing mall parking lots should make it clear: Santa Claus is coming to town, and he’s bringing plenty of credit-card-toting elves with him. The National Retail Federation predicts Americans will spend almost $475 billion on holiday-related purchases this year, up 4 percent from 2006. That’s a lot of fruitcake. Our economy could use the boost, no doubt…

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ECONOMIC ANALYSIS: How globalization benefits Hoosier companies

The debate on globalization most often focuses on imported goods. This is natural, for it is the sole source of pain associated with increasing international trade. The pain accrues to workers and investors in businesses that cannot compete internationally. Of course, the net impact is positive, in part because trade reallocates workers and capital to more productive activities. These more productive activities pay better and so are ultimately better for the economy-both here and abroad. One often-overlooked element of the…

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Commentary: A foreign investment that is sure to pay off

As the year draws to a close, the business community remains focused on taxes and the health of the economy. The governor’s privatization of the Indiana Toll Road generated a windfall of $3 billion. If managed properly, that money should fund Indiana’s road and bridge repair work. However, perhaps we should consider investing some of the interest to radically change our stature in the global economy. Canada possesses coastlines along the Atlantic, Pacific and Arctic oceans; has abundant natural resources,…

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Businesses, educators teaming up for education: Two sides join forces with Common Goal initiative, which aims to reduce Marion County’s dropout rate

Business and education leaders are hanging up their boxing gloves in favor of working together to stem the local high school dropout rate. “We’ve typically been at odds with the education community,” said Roland Dorson, president of the Greater Indianapolis Chamber of Commerce. Long-standing finger pointing has had businesses issuing mandates that schools educate their students better and educators claiming they don’t receive the help they need from businesses, Dorson said. “We get beat up by business and professional groups…

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Revving for another Super Bowl bid

After weeks of talking, Mayor-elect Greg Ballard and the Indiana Convention & Visitors Association have
decided to shoot to host the 2012 Super Bowl.

It wasnâ??t so long ago â?? in May â?? that the NFL owners voted 17-15 to give…

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Decisions on giving

A study put out yesterday by the Center on Philanthropy at Indiana University says that about two in three
American households made donations in each of the three years it followed.

The center also found that slightly more than half of…

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White as IPS savior

You hear it over and over. Lots of young families would live downtown, or in the surrounding neighborhoods,
if Indianapolis Public Schools didnâ??t have a poor reputation. Rather than risk their childrenâ??s education,
they bolt for township schools or even…

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INVESTING: Investors shrugging off home-mortgage turmoil

Nov. 20 was one of the stranger days in the stock market that I have seen for some time. On the surface, it came and went like any other business day, with the Dow Jones industrial average ending up a decent 50 points. However, if you had told me the stock prices of both the Federal Home Loan Mortgage Corp. and the Federal National Mortgage Association would collapse 25 percent that day even as the Dow rose, I would have…

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ECONOMIC ANALYSIS: Why eliminating property taxes is a bad idea

Judging from the many yard signs I’ve seen, a repeal of property taxes is a popular sentiment in the state. Too bad, because that would be an uncommon departure from Hoosier practicality and wisdom. Like most states, Indiana taxes income, consumption and wealth. We use these taxes to fund different levels of government. Critics of Indiana’s property taxes are right to be flummoxed. I’ve even argued that many of the consequences of Indiana’s property taxes are worse than most critics…

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Retailers hope to buck holiday predictions: Optimism found in online sales, busy Black Friday

High oil prices and a continuing credit crunch have many retailers bracing for a blue Christmas. Holiday sales this year are expected to grow a modest 4 percent, according to some retail experts, which would be the weakest pace in five years. The ominous forecasts prompted retailers to unveil promotions in October, although the official start of the shopping season was the day after Thanksgiving, traditionally known as “Black Friday.” Stores likely will rely upon a variety of incentives to…

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Should Formula One come back?

When Indianapolis Motor Speedway and Formula One parted ways this summer, more than one person in Indianapolis
muttered, â??Good riddance.â??

F1â??s leader, Bernie Ecclestone, was viewed as arrogant, pushy and greedy. Just the same, the city likes the
prestige of hosting…

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‘Creative class’ debunked?

The Wall Street Journal carried an interesting op-ed piece yesterday by a researcher who claimed cities are
putting their eggs in the wrong basket by trying to attract young single professionals with a â??brew-latte-and-they-will-come-approach.â??

Joel Kotkin, presidential fellow at Chapman University,…

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VOICES FROM THE INDUSTRY: Technology, life sciences creating new Hoosier jobs

While other states strive to find their places in today’s international economy, the Hoosier state has made a reputation for itself in the life sciences arena. It’s an important effort, especially when you consider that our state’s past successes were in the field of manufacturing. Con sidering that the 2007 Indiana Manufacturers Directory reports Indiana lost more than 17,000 manufacturing jobs in the past year, this new economic model built upon technology and life sciences is important, if not essential,…

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Acquisitions fuel growth for Consona: Former Made2Manage roars back after struggling as public company

Building Consona Corp. into a billion-dollar company is well within the sights of CEO Jeff Tognoni. But for now, he’s content with a recent growth spurt that is earning national recognition. Indianapolis-based Consona, formerly known as M2M Holdings Inc., grew at a clip of 131.4 percent last year, landing it on Software Magazine’s annual list of the 10 fastest-growing software firms in the nation. While Tognoni is proud of the achievement, he’s reticent to toot the company horn too loudly….

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