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The Indianapolis Star

High gas prices fuel interest in small cars

And add to that the fact that oil is traded on the commodities exchanges. Investors move their monies to commodities when they feel that inflation is coming or is here so to hedge or protect their money from loss. Right now almost ALL of the commodities traded are up over the last 2 to 3 years. Gold is up almost 400% from 4 years ago. Silver, platinum, copper, precious gems, pork, orange juice, etc. are all up significantly. Most of the commodities that can be traded have been increasing for the last 3 years or so and if one were to go and look at the history oil has tracked with them to a greater or lesser degree. This is a large reason why those that are paying attention, periodically read about some group that wants to see oil removed from the commodities exchanges when prices spike ridiculously (like early last year). Like others have been saying, there are many factors that cause the price of oil to rise and fall. Not the least of which are SUPPLY (OPEC & Chavez for example), DEMAND (India & China), the rise and fall of the U.S. dollar, gasoline reserves, EPA mix regulations, commodities trading etc. But the single largest reason that oil and gas prices are where they are today is the fact that OUR government WILL NOT ALLOW OIL EXPLORATION IN OR AROUND THE CONTINENTAL U.S. ANWR has been known to hold BILLIONS of barrels of oil and our GOVERNMENT continues to knuckle under to the greens and won't open less than 2000 acres out of 1.2 million to oil exploration. We can't go into the Gulf of Mexico for oil like Cuba is, nor can we get at oil that we know is just off the continental shelf. We also have vast deposits of oil shale and tar sands (just like Canada) in the Rocky Mountain areas that our ILLUSTRIOUS legislators will not let us have access to. A bill opening ANWR got to Clinton in 1998 and he vetoed it. If Clinton has opened ANWR to the oil companies then WE WOULD BE USING THAT OIL RIGHT NOW. And the price per barrel would not be anywhere near what it is now and we wouldn't be paying $3.00+ per gallon right now. If our government would let us get at the oil that we know is available to us right in our own backyard, we could become virtually independent of the middle east for our oil and the price per barrel would be a fraction of what it is today. IF YOU WANT TO RANT ABOUT YOUR GOVERNMENT OVER OIL, THIS IS WHAT YOU SHOULD BE RANTING ABOUT. If you want to quit giving money for oil to the Arabs this is how you do it. Conservation will only reduce what we give them by a fraction. Getting our own oil from home WILL HIT THEM HARD AND RIGHT IN THE POCKET BOOK. And will put Ahmedinejad in the corner pocket. So you see if you want to thank someone for making and keeping us beholden to the Arabs and Chavez you can thank the Dems and the greens in our government and the green lobbies that control them. If you don't think so you haven't been paying attention.  (Mar 12, 2008 | post #173)

The Indianapolis Star

RCA Dome hosts its final sports event

Sorry, forgot to include Tony George and IMS in that too since adding 2 more major events. But the point is still the same, Major Sporting events and venues are the reason that Indy is no longer considered a no place hick town surrounded by corn.  (Mar 2, 2008 | post #86)

The Indianapolis Star

RCA Dome hosts its final sports event

Okay, my bad, Dome not to paid off originally until 2013. 30 year bond?. I thought they were 20 year bonds that were floated in '82. Don't recall seeing any 30 year bonds out there. Would have had original payoff in '02. There have obviously been A LOT of re-financings. But I still do not trust the article as it states that there is about $75MM in "principal " still remaining when it barely cost that much to begin. I would like to see some of the data.  (Mar 2, 2008 | post #85)

The Indianapolis Star

RCA Dome hosts its final sports event

True, we do still owe money on it, but what is actually owed is a pittance to what was originally used to build the thing. The amount left for the Dome is way diluted in the mix of the additional monies borrowed to finance other things. Had the financings not been taken the Dome would have been paid off by now. So yes technically it isn't paid off, but if you were to look at it as though the remaining balance on the Dome was the first thing paid by the payments of each new refinancing, the dome balance would be zero right now. It's kind of like is the glass half empty or half full(?). How you choose to view it is up to you.  (Mar 2, 2008 | post #84)

The Indianapolis Star

RCA Dome hosts its final sports event

Again, the Colts organization, not Jim Irsay (if the Colts were sold, that person or entity would benefit, not Jim Irsay), gets a percentage of the sales of concessions, and possibly stadium rent. They cannot get any of the ticket sales of other events, the producers of those events wouldn't allow that and as such would not allow the events to be hosted in the stadium. They would obviously get their cut of COLTS souveniers, but not those of another teams or sports. Again, the teams and producers of those events wouldn't allow it as no one else would have a right to them. And again, the Colts, though not footing the bill, do have about a $100MM stake in the stadium. Get your facts straight before posting.  (Mar 2, 2008 | post #83)

The Indianapolis Star

RCA Dome hosts its final sports event

Too true, and the more convention and sports business (read: Final Four, World class racing events at the Speedway and whatever else comes along for Lucas Oil Stadium (I hate corporate names)) the more revenue to the city and more tourism tax (read: Stadium tax) so that aside from the $$$ to the city and it's businesses, the faster the Stadium bonds will be paid off. Gee, it's amazing how that works ain't it? = )  (Mar 2, 2008 | post #82)

The Indianapolis Star

RCA Dome hosts its final sports event

fred1, JJJ was responding to another poster and correcting his misinformed opinion.  (Mar 2, 2008 | post #81)

The Indianapolis Star

RCA Dome hosts its final sports event

Good point, but Mitch didn't do it. The legislature had to get it done, both Democrat and Republican.  (Mar 2, 2008 | post #80)

The Indianapolis Star

RCA Dome hosts its final sports event

Sorry, but you are misinformed, the Colts have a $100MM stake in Lucas Oil Stadium. It's not like some of the others where the team owner is footing the bill for the new field (there are a couple of teams where the city is footing the WHOLE bill), but Irsay ain't a billionaire either. And this is a small market too, which means that to be able to afford to compete and BE competitive, the team must have revenue sources that others may not require because local T.V. revenues aren't near as large as say N.Y., L.A., Chicago, etc. But major league football has almost singlehandedly brought Indy onto the national stage, especially in the last 5 or 6 years as the Colts have gone "PRIME TIME." It couldn't and wouldn't have happened without the Hoosier Dome and the Colts.  (Mar 2, 2008 | post #79)

The Indianapolis Star

RCA Dome hosts its final sports event

usmcdad, You were either playing hooky or you have a very selective memory. The Gov. did not lead any charge to "FORCE" the donut counties to approve the new tax. The legislature voted to give the counties the OPTION to allow accept the tax. There were town hall meetings in each of the counties to be effected to test for "public" acceptance. Most opted to contribute with the tax and I believe that at least one of them chose not to do it based on the public response. But the increase in the county sales tax was not forced on anyone by any means whether you choose to believe it or not. And yes, the tax has a sunset provision in it that was requested by the Governor just so that it can't go on into the future. The only way that can happen is by a vote in the state legislature since it effects more than one county. Marion county can't just decide to keep taxing the outer counties if it wants to.  (Mar 2, 2008 | post #76)

The Indianapolis Star

RCA Dome hosts its final sports event

It has been reported on Channel 8 and the other news reports about a year ago that the original bond for the dome was refinanced or rescheduled a few years ago and Marion county is still paying on it, though it is much smaller and almost paid out now.  (Mar 2, 2008 | post #75)

The Indianapolis Star

Colts make tenders to 5 players

And if a player expects to continue a career for another couple of seasons or more (and your team wants to keep you) you don't go and play when you know that one solid hit and you are done for good. That ain't the way to go out. And it isn't the way this team treats it's players. Say a guy goes out and plays for 8 or ten minutes, gets knocked out for the rest of the game and his career. He and the team have basically received the same level of production as him playing for 3 minutes of playfor but have lost the last 2 or more years of his productivity. A very poor trade off and EXTREMELY poor asset management. You don't play fast and loose with guys that cost that much money. The price tag wasn't as big when teams did a lot of that.  (Mar 1, 2008 | post #12)

The Indianapolis Star

Colts make tenders to 5 players

Marvin? no heart??? Dude, we obviously were NOT watching the same games. You CANNOT have a career like Marvin's and consistently put up the numbers that he has if you don't play with heart. No one that just goes through the motions and phones it in CAN EVER put up the numbers that guy has. You poll the guys that he plays with and against, the coaches too, (people that actually know what they are talking about) and see if they reach the same conclusion that you do. The guy may be quiet and withdrawn, but that is just him and it doesn't mean a damn thing. I'm not sure what you are looking at to come to that conclusion, but you don't go to the Pro Bowl (especially as many times as he has) playing without heart. You gotta be ALL heart to get that. I think you should go back and retake sports 101.  (Mar 1, 2008 | post #11)

The Indianapolis Star

Ballard begins shake-up at IMPD

Cottey did a respectable job, but he had his issues too. I think it is time for some new blood. A proven product of command from outside the area that is ready step in, step up and take command that is well versed in what is needed to confront the issues that exist and that are coming to the area. One that plays well with others, specifically the other law enforcement agencies in Central Indiana who are or will be facing similar issues to Indy.  (Feb 28, 2008 | post #30)

The Indianapolis Star

Ballard begins shake-up at IMPD

If you are going to lead well and effectively, one of the first things that you do is to put the proper personnel in place to lead the troops. That includes removing the political hacks in positions gained through favoritism. That as a start will go a long way to securing the loyalty of the troops. Of course you have to follow up with the rest of the program as well. Ballard was a career Marine that had some sizable commands and understands just what needs to be done. It is way too early to nitpick, second guess and armchair quarterback the guy. You run the risk of looking stupid later in the game.  (Feb 28, 2008 | post #29)