Home » Government

Government

Articles

A lonely number for IPOs in Indiana: Calumet joins short list of Indiana companies to go public this decade

A little-known refining and petroleum products company on the city’s west side has the distinction of being the only company in the state to go public in 2006. Calumet Specialty Products Partners LP filed its initial public offering last January. It completed the process in June by selling 5.7 million shares of stock at $21.50 each, ultimately raising $122.5 million. Shares since have nearly doubled in value, thanks in part to rising prices in the petroleum industry. While Calumet’s decision…

Read More

ECONOMIC ANALYSIS: How to extricate ourselves from the property tax mess

There once was a time when everyone watched network news, and there was one newscast in the heat of presidential primary season that I’ll always remember. After watching a succession of unsuccessful candidates in post-election press conferences blaming anything and everything-except themselves-for their poor showings, correspondent Roger Mudd had seen enough. Just once, he said, he would like to see candidates stand up and say it straight-they lost because folks liked the other candidates better. One of these days, someone…

Read More

Neighbors examine the BioCrossroads’ approach: Collaboration, not competition, now key for Midwestern life science industry

Five years ago, when the BioCrossroads initiative debuted, pundits compared its challenge to a foot race on a track crowded with competitors. And they noted a handful of traditional biotech hub cities like San Diego or Boston enjoyed a huge head start. Today, a better analogy might be a rising tide that lifts all boats. “The pie is getting bigger. It’s not a zero-sum game,” said Walt Plosila, vice president and leader of the technology partnership practice for Columbus, Ohio-based…

Read More

EYE ON THE PIE: You didn’t know him and now he is gone

A quiet gentleman died last week. It did not make the headlines. Ken Miller never did make headlines, but he was part of your life and the lives of all Hoosiers for many years. If you thought of him at all, it was as taking your money, yet all that time Ken was carefully saving you money and modernizing state government. For 14 years, Ken was Indiana’s commissioner of revenue. It was to his office that you sent your income-tax…

Read More

STATEHOUSE DISPATCH: Governor still has lots of differences with Dems

After saluting the accomplishments of the past year, Republican Gov. Mitch Daniels reached across the aisle during his State of the State Address Jan. 16 and assured Democrats that he can’t make further progress without their cooperation. Once again, the governor found himself competing for the TV audience of Hoosiers at home. In what seems to be a given of sorts, the Indiana University men’s basketball team was playing during the speech, taking on Hoosier hero Steve Alford’s University of…

Read More

VOICES FROM THE INDUSTRY: Patent trolls drawing attention of courts, government

Almost $3.5 billion: That, according to a recent IP Law 360 estimate, is the amount of judgments and settlements in intellectual property disputes in 2006. Equally remarkable, that amount was “markedly” down from the comparable figure for 2005. A recent article by Bloomberg News stated that juries awarded $1 billion in patent infringement damages in 2006. With that kind of money changing hands, it is not surprising that companies, known critically as “patent trolls,” have been formed to acquire patent…

Read More

VIEWPOINT: What we could learn from Fort Wayne

To be competitive in a global economy, city leaders must embrace change and look for innovative ways to attract jobs and private investment. In Fort Wayne, we are working to save energy and improve air and water quality to build a better city. We must decrease our dependence on imported oil for many reasons, including national security, cost of living and the need to reduce greenhouse-gas emissions. Energy and environmental concerns are directly related to economic development and quality of…

Read More

FUNNY BUSINESS: Forget Elvis on velvet; Art Bullies have other plans

I’ve seen the picture of the proposed ginormous art installation for downtown, and I think I speak for many of us when I say … Well, come to think of it, I better not say that, seeing as how many of us do not use that kind of language. In case you missed it, here’s the deal: There’s a movement afoot to erect a large, circular, steel, Dairy Queen curlicue over at 11th and West streets-a $10 million large, circular,…

Read More

ECONOMIC ANALYSIS: U.S. job growth improves, but Midwest is wallflower

We are a nation of more than 300 million people, over half of whom are in the civilian work force, with almost 146 million having jobs. So why do we get so excited, or disappointed, when the government scorekeepers report each month about job gains of a mere couple of hundred thousand? Of course, when I say “we,” I mean the tiny group of economists, policymakers and financial analysts who keep track of such things. Most businesspeople, let alone folks…

Read More

MICKEY MAURER Commentary: A fresh start for this IEDC alum

I’m back. My last regular column appeared in the Indianapolis Business Journal on Jan. 3, 2005. In that column, I announced that I had accepted a twoyear hitch with the Daniels administration as president of the Indiana Economic Development Corp. and that columns would be suspended during my tenure with the state. The editors at IBJ felt that writing a column would pose a conflict of interest with my new responsibilities, and I agreed. It was a good thing; I…

Read More

INVESTING: Congress’ first 100 hours suggest we’re in for long year

Investors could get shafted from the big guys at the top. The most powerful people in America potentially could fleece the average investor, and the only recourse we might have is hope. No, I am not talking about the outrageous but legal (a contract was signed) exit pay package of the former CEO of Home Depot. I am not talking about the options scandal that eventually wrapped up Steve Jobs from Apple, even though he is worth every penny the…

Read More

NOTIONS: A prayer for common sense on the issue of prayer

Dear God, please hear my prayer. We need a little divine guidance here (or at least a few thunderbolts of common sense). I pray today not for relief from the usual litany of woes (You hear enough about those). I ask, instead, that You help us past a nagging distraction so we might move on to more pressing concerns. As You know (because You know all), there’s a lot weighing on us in these little Edens called Earth, America and…

Read More

St. Francis plans another south-side growth spurt: Hospital system looks to build on 30 acres adjacent to Indianapolis campus

The youth soccer teams that fill the playing fields near St. Francis Hospital-Indianapolis will take their matches elsewhere next spring to accommodate another expansion by the burgeoning hospital. St. Francis Hospital and Health Centers wants to build on 30 acres of land near the south-side hospital and Interstate 65, according to paperwork filed with Marion County. An acute-care bed tower, medical offices and a cancer center are among the expansion possibilities for the campus, which the Beech Grove-based hospital system…

Read More

Labor sector diversification could spur local economy: $200,000 study targets finance, retail and construction

Sexier industry sectors like life sciences or motorsports get all the press. But to remain robust, the Indianapolis Private Industry Council believes, the area economy needs diversification. The 23-year-old work-force-training not-for-profit believes the nine-county area also should target three tried-and-true industries: finance and insurance; retail, hospitality and restaurants; and construction. IPIC, whose $9 million annual budget comes from public and private grants, plans to spend $200,000 during the first quarter studying the three sectors, which collectively employ 270,000 people in…

Read More

EYE ON THE PIE: In 2007, sweat the little things

This time of the year, serious people make serious resolutions about important matters; people like me, experienced and lacking determination, avoid resolutions. If, however, I were to recommend resolutions to business and government leaders, my list could be condensed into this: Attend to the little things. For too long, we have heard the preaching of management gurus and public-policy mavens that we must keep our eyes focused on the bigger issues. If you are a decision maker, you are supposed…

Read More

STATEHOUSE DISPATCH: Think the state’s awash in cash? Think again

Most observers assume there will be a confrontation between House Democrats, led by Speaker Pat Bauer, D-South Bend, and Republican Gov. Mitch Daniels this session. They suggest it’s like watching a hockey game and just waiting for a big fight. But confrontation need not be a synonym for breakdown , and while legislative Democrats and Daniels have some different philosophies about the role of government, they also have some basic agreements on just what should be accomplished before the end…

Read More

EYE ON THE PIE: News flash? Indiana continues to lag nation

The U.S. Department of Commerce put two data sets under my tree the week before Christma. On Wednesday, I got personal-income data, by state, for the third quarter of 2006 from the Bureau of Economic Analysis. On Friday, the Bureau of the Census sent me 2006 population estimates for all the states. Could I ask for anything better unless it was the “Complete Works of Alvin and the Chipmunks”? However, my joy may not be shared by those who have…

Read More

New stadium rising; city preparing for Super Bowl bid:

The concrete columns of the Indianapolis Colts’ new $675 million stadium began rising out of the ground in early 2006. Soon thereafter, the new venue had a name. In March, California-based Lucas Oil Products agreed to a 20-year, $121.5 million naming rights deal. Meanwhile, city and team officials in 2006 began discussions they hope will lead to attracting the Super Bowl to Lucas Oil Stadium in 2011. The Lucas Oil pact is one of a flurry of sponsorship deals the…

Read More

TOM HARTON Commentary: Tying up some local loose ends

Maybe you’ve already heard. Mickey Maurer’s column will return to this space in a few weeks. After two years serving as Gov. Mitch Daniels’ go-to economic development guy, Mickey should have plenty of stories to tell. And Associate Editor Tawn Parent and I, as his trusty substitute columnists, should have a bit more time to devote to our behind-the-scenes work at IBJ. I’m closing out my brief columnwriting career by addressing a handful of topics-some of them new, some of…

Read More

INVESTING: Deal-making frenzy sweeps through trading exchanges

More than 200 years ago, people used to gather under the Buttonwood Tree, a big Sycamore on Wall Street, to trade stocks. Those traders have long since passed on, and their piles of cash have been delegated to others. But, oh man, are we talking piles. Exchanges are the hottest investment right now. They are getting more hype than China. All of this recent spike in speculation has created an almost unacceptable level of risk for investors in exchange stocks,…

Read More