“I haven’t sung yet,” Frances the Fat Lady said. We were at the Bulging Buffet, which is open 24/7. Frances, one of the state’s biggest experts on public finance, had stacked her plate with bacon, sausage, eggs, pancakes and a variety of sweet rolls. “This property tax debate is not over yet,” she said as we took a table. “Despite the fact that only a few counties are really up in arms, there may be enough momentum for something realistic…
Not yet a believer in health savings accounts? Not to worry. The Indiana Department of Insurance is here to convert you. The insurance regulatory arm of Gov. Mitch Daniels’ administration is staging a symposium Aug. 3 to educate employers on the benefits of health savings accounts. Employers are increasingly pairing the tax-favored accounts, stuffed with a couple thousand dollars for each employee, with high-deductible health insurance as a lower-cost alternative to health plans with co-pays. Most employers also pay for…
Five leaders of Indiana’s life sciences industry offered their perspectives at the Indiana Convention Center June 26 as part of the Indianapolis Business Journal’s Power Breakfast Series. The panelists: Mike Arpey, managing director of global investment bank Credit Suisse’s Asset Management Division and manager of the $73 million Indiana Future Fund for BioCrossroads, the state’s life sciences economicdevelopment initiative. Ron Ellis, co-founder, president and CEO of Lafayettebased Endocyte Inc., a biotechnology company focused on the treatment of cancer through receptor-targeted…
Downtown’s anemic office market has shown signs of life over the last few months, but that doesn’t mean companies are taking more space and pushing occupancy rates higher. Credit goes to the government. State and local agencies absorbed roughly 175,000 square feet of office space during the second quarter of 2007, pushing the vacancy rate down to 15.9 percent, roughly a point lower than in the first quarter. The deals include 50,000 square feet for the Public Defender’s Office in…
Good people, me included, have been making dumb statements about the property tax mess in Indiana. The problem is that we don’t know enough to talk or write intelligently on the topic. The result is that we can be led by our noses into an even worse mess. “Abolish the property tax!” some demand. Then what? Abolition of the property tax means raising some other taxes or fees, unless government spending on services decreases. The state has been urging counties…
The nightstand clock reads 5:17. Too early to wake up. But hey, I’ve been tossing and turning for hours, so why lie here any longer, pretending? The cause for this night’s insomnia is money. Money for two kids starting college. Money to replace the Money to paint the house. Money for employees’ salaries. Money for employees’ parking. Money for employees’ retirement. Money for employees’ health insurance. Money for their families’ health insurance. Money to get the yellow highway paint off…
Anchor Lou Dobbs of CNN is a pest to some folks and a hero for others. His recurring economic message laments a view of U.S. workers losing out as companies send jobs overseas. Dobbs’ critics, of course, cite his convenient omission of the many interna tional companies that invest in U.S. communities through new manufacturing plants, research facilities and other initiatives. Love the debate or detest it, but consider this: Hasn’t Dobbs helped stir a discussion about how the new…
Regenstrief Institute continues to fine-tune a medical-records system that many think could someday become a national model The Regenstrief Institute is a racing team. Only instead of drivers and grease monkeys, the Indianapolis-based medical research group has doctors and computer geeks. And instead of a race car, Regenstrief runs a massive computer database with 35 years of medical records from Indianapolis-area patients. But Regenstrief’s mission is still all about speed. The not-for-profit is driving to discover better ways to care…
Some people believe the Fourth of July grants them liberty to disturb the night with their firecrackers. My pursuit of happiness is in conflict with theirs and I want them jailed. We all gladly infringe on the liberties of others while in pursuit of our own happiness. For example, should motorcyclists wear helmets? Yes, if all of us expect to pay their hospital bills (through higher premiums) and maintain them on disability after they have head injuries that might be…
Al Qaeda is threatening Iran-saying that if the country does not stop supporting Shiites in Iraq within two months, it will suffer terrorist attacks. In addition, Al Qaeda has called for a jihad against Shiite Muslims across the world. With the blessing of the U.S. government, the Shiites are in charge of Iraq now. Iraqi Shiites are receiving arms and support from Iran, a nation the United States has long called evil. We dislike Iran and are at war with…
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…
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…
David Young, co-founder of one of the city’s largest advertising agencies, is packing his bags and heading for Vancouver, British Columbia. This month, Young will oversee the opening of agency Young & Laramore’s first Canadian office, which is being set up to grow the firm’s 2nd Globe division in the Pacific Northwest. 2nd Globe, a 12-year-old division dedicated to bringing art, architecture and commerce together, is the brainchild of Young and is known for its work on several high-profile central…
A federal judge in a high-profile fraud case has slapped a former Brightpoint Inc. manager with a $50,000 fine-a relatively modest sum, but one the manager says he lacks the resources to pay. Judge Harold Baer of U.S. District Court in Manhattan late last month assessed the fine against Tim Harcharik, the former director of risk management for the wireless phone wholesaler. Harcharik, 53, was the sole remaining defendant in a securities fraud lawsuit the SEC brought in 2003 against…
The last writings of the late novelist Kurt Vonnegut portrayed the Americans of today as “drunk” on fossil fuels. Of course, that’s only partly true. What we’re really addicted to are the machines we pour the fuel into, especially the automobile. We have more registered vehicles in this country than we have drivers. In 2005, we collectively drove more than 3 trillion miles in our vehicles-15,000 miles for each of the nation’s 199 million drivers. And the numbers go up…
It was a beautiful sunny Hoosier day and I was delighted to see Faye of the Forest perched on my deck railing. “Hey, Faye,” I said. “What’s up?” “My property taxes are up,” she said, with irritation in her voice but a tear in her eye. “You know my little treehouse. I’ve lived there for years and the taxes keep going up. Why? What is going on?” “I hate to say this,” I said, “but the explanation gets more complicated…
The seed of the next bear market might have just been planted, and what better place than right here in the Crossroads of America. A seed is a tiny and innocent thing. But one tiny seed from a destructive weed can ruin an entire garden. A little background for those who don’t live in Indianapolis (or for those who do but don’t follow local politics): For years, there has been a gaping hole in the promised retirement benefits for retired…
Turkey isn’t high on the list of countries Americans visit. Tell friends you’re going to France and they congratulate you. Tell them you’re going to Turkey, and they ask why. They might follow the why with a reference to the movie “Midnight Express,” a 1978 film about an American’s nightmarish experience in a Turkish prison. Midnight Express had such a negative effect on Americans’ perceptions of Turkey that the man who wrote the book the movie is based upon recently…
The burgeoning number of immigrants arriving in Indianapolis have a new source available to help them navigate unfamiliar surroundings and the kaleidoscope of social support systems available. The Immigrant Welcome Center is a program launched in October that uses volunteers dubbed “natural helpers” to link foreign newcomers to such basic needs as health care, government and transportation services. Although the effort is nearly 9 months old, it’s just now getting up to speed as organizers are interviewing candidates to lead…
A lot of people across Marion County are going to be upset this month as their property tax bills start landing on their doorsteps. Taxes are expected to increase an average of 24 percent. Although that means there will be some people with tax increases much less, there will be a lot more with increases way above that number. I’ve already heard stories of 30-percent increases in tax bills, 50-percent increases, and one poor soul told me he got a…
