Concert venue slated for downtown project

DJIA 13,161.4 +173.9 / S&P 500 1,457.8 +18.6 / NASDAQ 2,633.1 +49 Tonight: Scattered clouds, patchy fog. Low 50. Wednesday: Scattered showers, turning breezy. High 60.
	Tuesday, November 13, 2007
	Concert venue slated for downtown project A huge mixed-use project proposed for just south of downtown would feature a 3,400-seat theater designed to attract 150 concerts, plays and events per year. Lead developer Ryan Zickler says the venue could draw 250,000 new visitors to downtown per year. His development team is finalizing plans for the overall $480-million project, which is called Legends District-SODO.   S&P upgrades Indianapolis credit outlook Standard & Poor's Ratings Service has increased its outlook on Indianapolis' general obligation bonds to "AAA stable" from "AAA negative." The rating, which anticipates the city's ability to repay its debt as far as two years into the future, is the highest issued by S&P. Prompting the upgrade was the city's decision to increase income taxes to create a structurally balanced budget for 2008, and a plan to issue pension obligation bonds to pay under-funded police and fire pensions.
	WISH-TV launches YouTube channel WISH-TV Channel 8 today launched a dedicated channel on the growing Internet site YouTube.com, which is owned by Google Inc. and has become the Web's biggest video search engine. The YouTube deal is expected to broaden the station's reach beyond its traditional broadcast area and help land national sponsors. WISH officials said they intend to use the site to air news, weather, and feature and sports clips.   Conseco Insurance switches presidents Conseco Insurance Group announced yesterday that its president, Michael J. Dubes, has retired and been replaced by Dan R. Bardin. Dubes, 65, led the unit of Carmel-based Conseco Inc. since June 2005. Bardin most recently was an industry consultant. He also has been chief executive of insurance at Prudential Corp., Asia, and general manager of American International Group in Thailand.   Airline begins linking 3 Indiana cities Regularly scheduled airline flights linking South Bend and Evansville with Indianapolis begin today. Massachusetts-based Cape Air provides five daily flights and some weekend trips to Indianapolis using nine-seat Cessna propeller-driven planes. It also will offer flights connecting Evansville and South Bend with short stops in Indianapolis. The South Bend and Evansville airports last offered the flights in 2005, when the ATA subsidiary Chicago Express ran them. But ATA's bankruptcy short-circuited that after only three months. CTS to lay off 103 workers in reorganization CTS Corp., which designs and manufactures electrical components and sensors, said yesterday it will eliminate 103 positions this year to improve efficiency. The Elkhart company operates globally and didn't specify where the cuts would be made. The realignment will cost $2.8 million, but will save a similar amount on an annual basis after the cost is absorbed in the coming year, CTS said. Its stock price has fallen to $11.32 a share from near $16 a year ago. Chrysler name stripped from New Castle school New Castle's school board voted 3-2 last night to drop Chrysler from the name of its high school. Beginning in 2011, the school will simply be called New Castle High School, according to The Star Press of Muncie. The school was named Walter P. Chrysler Memorial High School when built in 1955, but sentiment to change the name cropped up after the automaker sold its huge plant in the eastern Indiana town to Metaldyne Corp. in 2003. Heated opposition to the name change in 2004 persuaded the board to turn down the idea. This time, however, opposition was minimal.
	Solving the tax debate Gov. Mitch Daniels has proposed capping residential property taxes at 1 percent of a home's assessed value, rental properties at 2 percent and businesses at 3 percent. Now state Sen. Luke Kenley says the bipartisan commission on taxes he heads will offer a similar proposal. Kenley, a Republican from Noblesville, says the proposal will recommend cutting homeowner taxes even deeper than the one-third offered in the Daniels plan. Are you happy with the direction Daniels and Kenley are headed? Join the discussion at IBJ's new blog, News Talk. From IBJ staff and Associated Press-Compiled by Norm Heikens President visits southern Indiana President Bush will be at The Grand convention center in New Albany today to talk about the federal budget. A White House spokesperson says Bush will ask Congress to pass a "fiscally responsible, pro-growth budget." Fox 59 will have more at 10 p.m.
	Senator to recommend property tax cuts State Sen. Luke Kenley, R-Noblesville, says he has a plan that could cut homeowners' property tax bills in half. Kenley is the chairman of the bi-partisan committee that has been studying the property tax dilemma since summer. He'll make his recommendations to the State Tax and Financing Policy Commission this afternoon. Members then will vote on those ideas that could be turned into bill proposals for the Indiana General Assembly. Homeless man arrested for child molestation A homeless man is charged with sexual battery and child molesting after a father says he caught the man touching his daughter. The father says Rocky Crister stalked them for several hours this weekend at Circle Centre mall before the father says Crister grabbed the little girl between her legs on the escalator. The father grabbed Crister and held him while waiting for mall security and police. UIndy tests emergency alert system The University of Indianapolis tested its new emergency alert system at noon. "Watchdog" issues warnings to students, faculty and staff by phone and e-mail. It's part of the university's review of campus safety, which gained urgency after April's Virginia Tech shootings. Billboards enter digital era High-tech billboards are big business nationally, but regulations prevent their use in Indianapolis.   A fresh outlook on board Concord Neighborhood Center has added a 15-year-old director to help keep a youthful perspective.   Glut of local golf courses puts squeeze on owners Golf courses are struggling as too few players are stepping forward to replace those leaving the game.   Largest Indianapolis-Area Meeting and Event Facilities Sign up today for IBJ's Health Care Life Sciences Weekly E-mail Alert. This weekly news-email is sent out every Wednesday morning to over 3,000 business professionals. The content will cover the business of health care, life sciences and related insurance and benefits news. Readers will find news about hospitals, medical practices and health care companies as well as updates of stories that first appear in Indianapolis Business Journal. Also included are industry stats and trends, people news, event news and news of public policy changes that affect the health care and life sciences industries. Sign up today for your free subscription.
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