Last Updated Thu., January 29, 2015 - 10:32 AM

Legislation would allow alcohol at retirement, nursing homes 10:28 AM

Associated Press
A group of residents at a Bloomington retirement home are spearheading a legislative push to allow alcohol to be served at Indiana's nursing homes and retirement communities.

HHGregg quarterly results fall short of expectations10:20 AM

IBJ Staff and Associated Press
The Indianapolis-based appliance, electronics and furniture retailer suffered through a tough end-of-the-year quarter that couldn’t be rescued by holiday shoppers.

Duke Realty sells 62 office buildings for $1.12 billion11:55 PM

Bloomberg News and IBJ Staff
Indianapolis-based Duke announced the massive sale Wednesday at the same time it released a quarterly financial report that mostly met analyst expectations

Special Report: City's building spree leaves trail of spoils

Mayor Greg Ballard takes pride in Rebuild Indy, the city’s nearly $400 million program that doubled the volume of public works projects—and became engineering and construction firms' largest business opportunity with the city in more than a decade.

City bans bulk land-bank sales after lopsided deal with not-for-profit

Indianapolis last year sold 154 properties from its land bank for $1,000 each to a novice not-for-profit, which immediately flipped them for a total $500,000 profit. More than a dozen have changed hands multiple times since then, making investors more than $1 million. (with interactive map)

SPECIAL REPORT: Stock-based pay builds wealth for Indiana execs

IBJ's annual review of proxy statements for Indiana public companies found senior executives' median compensation rose 14 percent in 2011. But that analysis uses the fair market value of stock and options awards on the date they were granted. If a company's stock price surges, executives can make out far better. (with searchable database)

Crean, Painter contracts packed with rewards for postseason success

Indiana University Coach Tom Crean and Purdue University Coach Matt Painter cash in big time when their teams perform well, especially in postseason play.

Airport execs' globetrotting sparks scrutiny

Indianapolis Airport Authority CEO John Clark and two key officers spent more than $67,000 last year on travel that included extended business trips to Brazil, Denmark, Greece, Morocco and Switzerland.

BioCrossroads has stoked state's life sciences industry, but challenges remain

In the 10 years BioCrossroads has been promoting life sciences in Indiana, the effort has netted more than 330 new companies, an infusion of more than $330 million in venture capital, a tripling of exports, and a growing number of mentions in national reports on life sciences.

Warnings about broker's tactics went unheeded

Several state employees openly questioned how John Bales' real estate brokerage did business long before the FBI launched an investigation that led to his indictment.

Pro athletes' charities often have limited life spans

Wealth and fame often lead professional athletes to share their success in the charitable arena, but those efforts rarely last much longer than their careers as the organizations struggle to survive in an already-crowded philanthropic field.

Critics: City's effort to help ex-offenders ineffective

Three years after Indianapolis Mayor Greg Ballard launched a city office designed to help ex-offenders avoid a repeat prison visit, some of those original supporters say the city’s Office of Re-Entry Initiatives not only has fallen short of that goal but has accomplished little else.

CEOs see stock windfall after market crash

Executives at Indiana’s public companies got rich in the down-and-up market, even when investors didn't. CNO Financial's Jim Prieur, for example, received stock grants now worth $4.4M, despite share prices that are 40 percent lower than three years ago. With searchable database.
More Special Reports
Last Updated Thu., January 29, 2015 - 10:32 AM

Legislation would allow alcohol at retirement, nursing homes 10:28 AM

A group of residents at a Bloomington retirement home are spearheading a legislative push to allow alcohol to be served at Indiana's nursing homes and retirement communities.

McDonald's CEO, an Indy native, steps down as sales decline11:22 PM

McDonald's CEO Don Thompson is stepping down as the world's biggest hamburger chain fights to hold onto customers and transform its image.

House panel passes bill for Amish exemption on photo IDs 9:16 PM

Bill sponsor Rep. Robert Morris, R-Fort Wayne, said it was created to give Indiana's Amish population more access to outside businesses such as banks and pharmacies that require a state-issued ID.

Barnhart returns as head of IndyCar race control 2:51 PM

Brian Barnhart had the same role from 1997 through 2011, but was removed after a controversial final season.

Pence's mother prefers 'not right now' on run for president11:15 AM

Indiana Gov. Mike Pence's mother says she thinks her son would make a good U.S. president — just not yet.

Indiana city advances $7M bond for Pillsbury plant

New Albany's city council voted 5-2 on Tuesday in favor of a nonbinding resolution to offer General Mills financial incentives to keep its refrigerated baked goods plant open. The plant has about 400 well-paid employees.

Indiana Senate committee approves 'crime-reduction' bills

An Indiana Senate committee on Tuesday approved a set of bills intended to fight crime that among other things would impose harsher sentences for violent offenders and provide funding for police overtime.

Pence: Website will be 1-stop-shop for news releases

Indiana Gov. Mike Pence said the characterization of the site as a news agency represents "an understandable misunderstanding" and that he supports a free press.

House panel backs new ethics rules for state legislators

An Indiana House committee has endorsed tighter rules on the conduct of lawmakers in the wake of an ethics investigation of former House Speaker Pro Tem Eric Turner and other issues.

Democrats, hospital group cheer Healthy Indiana Plan ruling

The top Democrat in the Indiana Senate is applauding the federal approval of Gov. Mike Pence's proposal for expansion of the Healthy Indiana Plan.

BMV moves license plate production away from prisons

The Bureau of Motor Vehicles has entered into a $72 million contract with Intellectual Technology Inc. to produce and distribute the state's license plates and vehicle registrations until the end of 2019.

Council panel tables Angie's List request until next month

A decision on whether to provide more than $18 million in city incentives to consumer review service Angie's List was delayed Monday night by a City-County Council committee.

Kokomo sues state over proposed downtown baseball park

The city filed a complaint Monday in a Marion County court against the Indiana Department of Homeland Security, saying the agency's opposition inhibits the city's ability to complete the $9 million project.

Pence to launch state-run news service in Indiana

Indiana Gov. Mike Pence is planning a state-run news service that promises to break news ahead of traditional media outlets and deliver stories written by state press secretaries.

State union membership counters national trend

Indiana bucked a national trend in 2014 by experiencing an increase in labor union membership, new statistics released by the U. S. Labor Department show.

Indiana city to consider $7M in incentives to keep plant open

General Mills announced earlier this month it planned to close its refrigerated goods plant that employs 400 by mid-2016.

Indiana lawmakers facing renewed debate over casinos

Proposals aim to help boost Indiana's casinos after they've seen more big declines in revenue in the face of growing competition from neighboring states.

U.S. home sales fall off on decline of first-time buyers

The National Association of Realtors said Friday that sales of existing homes rose 2.4 percent last month. But over the course of the entire year, sales fell 3.1 percent.

Senate panel passes energy-efficiency utility bill

The Senate Utilities Committee voted 7-3 Thursday in approving a bill that would reduce state oversight of major utility companies' energy-efficiency programs.

Bill loosening rules on wine sales clears committee

A state legislative panel has endorsed a proposal that would allow Indiana residents to buy wine directly from a winery without first having to make an in-person visit.

Jeff Gordon to retire as full-time driver after 2015 season

The 43-year-old Gordon, who was raised in the Hendricks County town of Pittsboro, is coming off one of his best seasons in years. He won four times in 2014, including the Brickyard 400 in Indianapolis.

Questions arise as NFL investigates Patriots' footballs

The NFL is investigating a report that the New England Patriots used underinflated footballs Sunday in the AFC championship game while beating the Indianapolis Colts 45-7. Here are some things to know about the issue.

Key lawmaker sponsors bill to allow Sunday alcohol sales

House Public Policy Committee Chairman Tom Dermody of LaPorte has authored the bill that would allow Indiana groceries, pharmacies and liquor stores to sell alcohol on Sundays from 10 a.m. to 6 p.m.

UPDATE: House education chairman seeks OK for lobbying

Rep. Robert Behning, R-Indianapolis, formed Berkshire Education Strategies last June to represent out-of-state clients in the education field.

U.S. homebuilders have best year since 2005

For all of 2014, U.S. builders started construction on 1.01 million new homes and apartments. It was the first time construction has topped 1 million since the height of the housing boom in 2005.

State senators pushing for new Indiana standardized tests

A bill sponsored by three Republican senators calls for the State Board of Education to revise Indiana's K-12 academic standards and select a nationally recognized set of exams for testing students by July 2016.

More Indiana audits planned with local government fees boost

The state auditing agency would hire about 100 more field examiners to review spending by local governments and school districts under a plan being considered by Indiana lawmakers.

Perceptions, plans outlined for this year's Final Four

NCAA Final Four host committee officials said Tuesday that Fan Fest would open April 3; youth clinics and a 5K walk to help support Coaches vs. Cancer will be held April 4; 3,200 children would dribble around town April 5; and the annual March Madness Music Festival will be held April 3-5.

Frisch's alleges ex-treasurer embezzled $3.3M

The company that owns dozens of Frisch's Big Boy restaurants in Ohio, Indiana and Kentucky alleges a former assistant treasurer stole an estimated $3.3 million in a multiyear embezzlement scheme.

GOP-backed bill would end straight-ticket voting option

Only 12 states allow or offer straight-ticket voting, according to the National Conference of State Legislatures. The practice has been declining in availability over the past decade.

Lawmakers to discuss high school civics test measure

Indiana House committee members are set to discuss legislation that would require high school students to take the same test that immigrants must pass to become a U.S. citizen.

CNBC's 'American Greed' to profile Tim Durham

The show, which airs at 10 p.m. Thursday, follows Durham’s path from his modest roots in Seymour, Indiana, through his quest to become the world’s richest businessman to his arrest and conviction for running a $200 million Ponzi scheme.

Bills filed that would allow medical marijuana in Indiana

Two Democratic lawmakers have filed bills that would allow the use of medical marijuana in Indiana, although neither measure is likely to advance in the Republican-controlled Legislature.

NFL confirms probe into whether Pats used deflated footballs

The game operations manual notes that people who alter footballs or allow an unapproved football to be used in a game can be disciplined with fines or other punishments.

Indiana House bill would legalize chemical cremation

The legislation would require the State Board of Funeral and Cemetery Service to adopt rules for alkaline hydrolysis. The process is legal in 11 other states.

Fountain Square landlord keeps duckpin bowling alive

The game has become a must-have-reservations attraction in the historic Fountain Square neighborhood and one of Indy's most original activities for corporate team-building, date night or a fun time out with friends.

Pence's $51M prison expansion proposal met by skepticism

The proposal comes just months after Indiana's criminal sentencing laws changed in part to reduce the need for more prison space.

IU informatics, computing school sees enrollment surge

An Indiana University school devoted to information technology and its applications to other fields has seen its enrollment nearly triple in the last seven years, university officials said.

UPDATE: Local officials to consider more animal shelter funding

The Department of Public Safety estimates $1.5 million is needed to address findings that the Indianapolis Animal Care and Control shelter is unsanitary, understaffed and underfunded.

Indiana promotion ad to air in New York during Colts game

Indiana's business recruitment agency will use the Indianapolis Colts' appearance in the American Football Conference championship game to promote the state among New York City viewers.

Funding boom shows power of tech startups, raises concerns

Venture capitalists poured a whopping $48.3 billion into U.S. startup companies last year, investing at levels that haven't been seen since the heady days before the dot-com bubble burst in 2001.

Proposal would overhaul state ethics laws after scandals

Indiana legislators would face more financial disclosure requirements and elected officials would be expressly prohibited from using state resources for political purposes under a proposed overhaul of ethics laws introduced Thursday.

Senate bill would increase access to adoption records

Senate Bill 352 would allow those adopted from 1941 through 1993 to access their records unless their birth parents sign a form prohibiting it.

Caesars unit says it filed Chapter 11 in bid to trim debt

A cash-strapped division of casino giant Caesars Entertainment Corp. that owns two Indiana casinos is hoping a court agrees to its plan to get out from under $18.4 billion of debt.

Pence traveling to Detroit for meetings at auto show

The governor has meetings planned with General Motors CEO Mary Barra and executives of other companies, including Honda, Subaru, Fiat Chrysler, and Toyota.

Indianapolis Colts linebacker Josh McNary charged with rape

An attorney for McNary released a statement saying his client "unhesitatingly" denied the allegations and had reported to law enforcement officials in a "respectful and peaceful" manner.

Details being worked out on Pence's balanced budget proposal

Republican legislative leaders are backing Indiana Gov. Mike Pence's proposal to add a balanced budget amendment to the state constitution, even as details of how it would work are still being sorted out.

Court upholds $5M cap in Indiana stage collapse case

A three-judge panel rejected arguments by Jordyn Polet of Cincinnati that the liability cap violates the Indiana constitution and that she wasn't treated the same as other claimants who sued the state.

IRS cuts taxpayer services as filing returns gets harder

The Internal Revenue Service is reducing taxpayer services to historically low levels just as President Barack Obama's health law will make filing a federal tax return more complicated for millions of families.

IU launches shuttle bus between Bloomington, Indianapolis

The shuttle offers WiFi, wheelchair accessibility, reclining seats, electrical outlets, DirecTV, a lavatory and a real-time bus-tracking interactive map.
Last Updated Thu., January 29, 2015 - 10:32 AM

JANUARY 26-FEBRUARY 1, 2015

Thisissue1-012615

IU Health on course to spare Methodist, close University

All signs point to University Hospital’s being shuttered as Indiana University Health goes from three downtown hospitals to two.

Front Page

Developer bets $40M on mixed-use project near IUPUI

A West Lafayette firm plans to construct an 11-story downtown apartment and retail project that would add to the growing number of housing developments targeting IUPUI students.

Cycling devotees embrace $450 pump

Josh Poertner, a Zipp Speed Weaponry engineer who helped prove bicycle fanatics would pay $3,000 for a pair of aerodynamic wheels, has turned his Steve Jobs-like obsession with technology and design to the lowly tire pump.

Top Stories

Conner Prairie's goal: Take balloon exhibit to new heights

While the orange-and-yellow tethered balloon that anchors the 1859 Balloon Voyage is getting a new skin and a new sponsor over the winter, construction crews are working on a six-figure overhaul intended to make the exhibit more immersive.

Pacers telecasts on Fox Sports going mobile

Fox Sports Indiana is live streaming home and away games—as well as pre- and post-game shows—to mobile devices. Pacers officials are hopeful the viewing option will grow the team’s fan base and increase ticket and other sales.

Utilities favor legislation changing economics of rooftop panels

Investor-owned utilities are lobbying for a bill that would allow them to alter customers' credits for net metering, or generating energy on-site and selling it back to the grid.

As oil prices go haywire, refiner Calumet sticks to playbook

Whether Calumet Specialty's depressed stock price combined with its rich quarterly dividend create a buying opportunity is the subject of intense debate among investors these days.

Indy lands return of massive NRA show for 2019, 2023

The National Rifle Association's annual convention was Indianapolis' biggest convention last year, and local hospitality leaders expect it to be even bigger in future years.

REIT stock prices climb on rebounding economy

Shares of real estate investment trusts Duke, Kite and Simon have all hit 52-week highs this month, with Simon climbing above $200 for the first time since the company went public.

Focus

Indiana companies smack in the middle of global spinoff spree

Just call 2014 the year of the corporate spinoff frenzy. And 2015 might be just as crazy.

A&E, etc.

LOU'S VIEWS: Wurm worms his way into the mind at the IMA

Empty platforms. Instructional drawings. Everyday objects. In “Erwin Wurm: Euclidean Exercises," visitors are prompted to stand on the platforms and pose.

DINING: Having a ball … or a whole plate of them … on Mass Ave

For some, the meatball is an obligatory pairing with spaghetti. For a new Mass Ave restaurant, it’s an orb on which an entire business is based.

LOPRESTI: Super Bowl facts with Hoosier flair

OK, so the Colts aren't in the big game, but we're not completely shut out of the action.

Opinion

MORRIS: Inspired by a movie, not by a speech

American Sniper made me proud to be an American, President Obama's State of the Union address did not.

KENNEDY: Perverse incentives lead to bad decisions

I am hardly the first—or only—person pointing to the unfortunate consequences of constitutionalizing the tax caps (nor the only person rolling her eyes at Gov. Pence’s duplicative “balanced budget” proposal).

MENYHART: Welcome social entrepreneurship Inc.

From Shanghai to Buenos Aires, entrepreneurs are founding “mission-driven companies” that have a specific social or environmental mission as part of their core business plan.

FEIGENBAUM: Lawmakers weighing overwhelming stack of bills

Many of the new House and Senate members ran on limited, simplistic campaign platforms, and—because few had seriously contested general election campaigns—they had little opportunity to educate themselves on more than a handful of big-picture matters.

HICKS: Bill for Rockport gasification plant is job killer

Rockport was not a privately feasible operation in 2005, so the state offered a number of energy purchase agreements to support its construction. Suffice it to say that what was a marginally bad idea in 2005 is a profoundly bad idea in 2015.

SKARBECK: How Switzerland bank wreaked currency havoc

Financial markets were rocked on Jan. 15 when the Swiss National Bank surprised the world by removing its three-year cap on the Swiss franc/euro exchange rate.

Pence education agenda would push state ahead

Because of the vital role education plays in Indiana’s future, the Indiana Chamber of Commerce Executive Committee recently voted to endorse Gov. Pence’s education agenda for the 2015 legislative session.

In Brief

Local software firm hopes to grow after VC infusion

Indianapolis-based Salesvue LLC, which produces productivity software products for sales departments, is looking to raise $5 million to grow its sales and marketing team.

Ballard kept consultants busy while pondering run

Indianapolis Mayor Greg Ballard spent almost as much in campaign funds as he raised last year while he contemplated whether to seek a third term. More than half of his spending went to political consultants.

Hoosier companies attract more venture capital, but total lags glory days

Early-stage and growth-stage companies in Indiana raised $47.3 million on 20 deals last year, more than double the $23.4 million invested in 2013.

Key lawmaker sponsors bill to allow Sunday alcohol sales

House Public Policy Committee Chairman Tom Dermody of LaPorte has authored the bill that would allow Indiana groceries, pharmacies and liquor stores to sell alcohol on Sundays from 10 a.m. to 6 p.m.

Records

Records - Jan. 26, 2015

Records listings from the Jan. 26, 2015, issue of IBJ.

Blogs

Ticket giveaway: National tour of 'Annie'

Indianapolis native Adia Dant isn't having a hard-knock life at all: She's playing the orphan Pepper.

Roundup: Broken Beaker coming to Mass Ave, Rural King to Greenwood

A distillery is set to take the space formerly occupied by Bikes on Mass Ave, which plans to reopen nearby with a concept hawking beer and coffee. Plus: Mooyah burgers in Noblesville, go-karting in Fishers, and a craft brewery in Carmel.

Soccer stadium renderings unveiled; questions remain

Despite the unveiling Wednesday of renderings for a proposed new downtown home for the Indy Eleven, there are still more questions about the project than answers.

It's transition time for North of 96th

Now that the North of 96th news-gathering machine is up and running, I’m ready to let someone else take the wheel of IBJ's mobile bureau.

Health VC dollars tripled in Indiana

Indiana’s health care companies attracted $103.8 million in investments last year, the highest total since attracting 2007. However, all but $3 million of last year’s investments came during the first six months of the year and Indiana continued to lag other Midwest states.

A&E, etc.

Ticket giveaway: National tour of 'Annie' 08:46 am

Indianapolis native Adia Dant isn't having a hard-knock life at all: She's playing the orphan Pepper.

A&E roundup: Stolen's latest gig, an Indiana musician at Lincoln Center, more

Plus a new Eiteljorg curator, a concert from a country legend, and added summer camps at the Indianapolis Museum of Art.

Hyatt Regency Indianapolis acquired by joint venture

The city's fourth largest hotel has been acquired by a joint venture of Davidson Hotels & Resorts and Silverpeak Real Estate Partners, the companies announced Monday.

A&E priority list includes the Beatles, Hitchcock(ish), and more

What to do this week besides think about the Super Bowl? Here are some viable options to inflate your week.

More A&E, etc.