Bloomberg News and IBJ Staff

Recent Articles

After WISH drama, CBS reaches deal with Lin for other affiliates

August 28, 2014
CBS Corp. has agreed to renew affiliation agreements for 12 stations owned by Lin Media after it played hardball with the company and dropped its ties with WISH-TV in Indianapolis.

WellPoint to change corporate name back to Anthem

August 12, 2014
The name change will be completed by the end of the year, pending shareholder approval, the company said Tuesday.

Struggling hospital finds buyer, enters bankruptcy protection

August 12, 2014
Bloomington’s Monroe Hospital, which has had a close relationship with Indianapolis-based St. Vincent Health, filed for bankruptcy reorganization on Friday and plans to sell its business to a Canadian operator.

Dow Agro reports record second-quarter sales

July 23, 2014
Dow AgroSciences LLC posted sales of $1.9 billion in the second quarter, an increase of 3 percent over last year's second period, the Indianapolis-based company reported Wednesday morning.

Court nixes Obamacare subsidies for Indiana, 35 other states

July 22, 2014
The Obamacare tax credits that brought nearly $400 million to Indiana this year to help Hoosiers buy health insurance could go away after a federal appeals court ruled Tuesday they were illegal.

Steel Dynamics buying Mississippi plant for $1.6B

July 21, 2014
Fort Wayne-based Steel Dynamics said the plant it is buying from a company controlled by Russian billionaire Alexey Mordashov is one of the newest and most technologically advanced mini-mills in North America.

CNO upgraded by S&P after divesting insurance unit

July 2, 2014
CNO Financial Group Inc. was upgraded by Standard & Poor’s after the Carmel-based company completed the sale of a life insurance unit that was no longer issuing policies.

ITT Educational says access to student-loan funds in danger

July 2, 2014
Carmel-based ITT Educational Services Inc. said the U.S. Education Department may limit its access to student-loan funds because the company is unable to provide audited financial statements.

Lilly, Sanofi seek to sell erection drug Cialis without prescription

May 28, 2014
Sanofi will apply for approval of Cialis as an over-the-counter treatment in the United States, Europe, Canada and Australia. The drug garnered $2.16 billion in sales last year.

HDG Mansur affiliates file Chapter 11 to halt $5.8M judgment

May 23, 2014
The judgment in a New York court stems from allegations by a Sharia fund that the affiliates stole funds. HDG argued that it charged the additional fees to rectify a billing error.

Endocyte shares plunge 60 percent after drug trial is stopped

May 2, 2014
Endocyte Inc.'s stock fell more than 60 percent in early trading Friday after the drug it’s developing with Merck & Co.’s backing failed to help patients in a trial for ovarian cancer.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.