News & Analysis

Foreclosed Ramada hotel up for auction

June 2, 2011
The hotel on the east side of Indianapolis near Interstate 465 and Pendleton Pike will go up for online auction on Tuesday with a minimum starting bid of $300,000.
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ITT Educational's stock price leaps as feds ease crackdown

June 2, 2011
 IBJ Staff and Bloomberg News
The Obama administration gave for-profit colleges more time to comply with rules that will cut off federal aid to institutions whose students struggle the most to repay their government loans.
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State eyes possible takeover of 18 failing schools

June 1, 2011
Associated Press
State Superintendent of Public Instruction Tony Bennett said it's simply unacceptable to have six straight years of failing schools.
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Government to lose $14B of auto bailout funds

June 1, 2011
Associated Press
The Obama administration said Wednesday that the government will lose about $14 billion in taxpayer funds from the bailout of the U.S. auto industry, a third of the loss officials had initially estimated.
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Roche lands $11M contract at D.C. army medical centers

June 1, 2011
J.K. Wall
Roche Diagnostics Corp. landed an $11.4 million contract to provide laboratory testing services at military hospitals in the Washington, D.C., area.
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Better Wi-Fi sought for stadium, convention center

June 1, 2011
Scott Olson
The Capital Improvement Board of Marion County is accepting proposals to improve Wi-Fi service at both Lucas Oil Stadium and the Indiana Convention Center. The systems are expected to be operational in time for the Super Bowl in February.
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Alexandria working on factory deal with defense contractor

June 1, 2011
Associated Press
Alexandria Mayor Jack Woods said plans are for Maryland-based Floatograph Technologies to buy the former U.S. Pipe facility from the city and then repair and remodel the factory. The plant could eventually have 100 workers.
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Longtime CEO steps down at philanthropic consultancy

June 1, 2011
Johnson Grossnickle and Associates in Greenwood announced Wednesday that firm veteran Angela White will replace co-founder Ted Grossnickle as CEO.
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Klipsch steps down as speaker maker CEO

June 1, 2011
Kathleen McLaughlin
Longtime Klipsch Group executive Paul Jacobs will take the helm, giving the Indianapolis company its first leader not named Klipsch.
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Ball State defends planned tuition increases

May 31, 2011
Associated Press
Ball State University officials say a proposed tuition increase of about 4 percent for undergraduates and 9 percent for graduate students is needed to offset cuts in state funding.
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Defense spending bill leaves out Rolls-Royce jet

May 31, 2011
Associated Press
The U.S. House committee rejected efforts by some in Congress to spend more money on construction of an extra engine for the F-35 Joint Strike Fighter for the Air Force, Navy and Marine Corps.
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Massive wind farm planned north of Indianapolis

May 31, 2011
 IBJ Staff
A Chicago-based wind-farm developer is planning a $175 million farm about 45 miles north of Indianapolis that will span parts of Madison, Tipton, Grant and Howard counties.
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Government cutting rates for hard-to-insure patients

May 31, 2011
Associated Press
So far, about 18,000 people have signed up for the Pre-Existing Condition Insurance Plan, well short of government projections that some 375,000 people would gain coverage in 2010. Rates in Indiana will fall 26 percent.
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General Mills plans $36M distribution center

May 31, 2011
Associated Press
General Mills Inc. announced Tuesday it would spend $36 million in building the new distribution center in Fort Wayne and potentially add 65 jobs by the end of 2012.
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Hoosiers in line for $30M in rebates

May 31, 2011
J.K. Wall
Only 19 of the 63 companies writing individual health insurance policies in Indiana have been meeting the new 80-percent medical-loss threshold of the health care reform law, potentially triggering a refund for customers.
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Hospitals nearing 'saturation' on doc hiring

May 31, 2011
J.K. Wall
Indianapolis may be reaching a saturation point for hospitals employing physicians, according to the latest report from the Center for Studying Health System Change.
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Shrunken Lauth emerges from reorganization

May 31, 2011
J.K. Wall
Lauth Investment Properties, which holds the remains of the real estate empire of Lauth Group, has emerged from Chapter 11 bankruptcy, with about $25 million and a portfolio of properties valued at $35 million.
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Honda adding 1,000 workers at Greensburg plant

May 31, 2011
 IBJ Staff and Associated Press
The automaker expects to double its current work force at the plant 50 miles southeast of Indianapolis as it prepares to add a second shift by the end of the year.
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Work to begin on rare Washington Township home sites

May 31, 2011
Tom Harton
The transformation of a wooded ravine immediately north of Park Tudor School into an 11-lot gated community will bring to market a rare commodity: a cluster of new-home sites in densely populated Washington Township.
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Chambers of commerce take bigger role in politics

May 30, 2011
Associated Press
After years of advocating pro-business positions, many chambers are taking the next step and issuing endorsements in hopes of ensuring business-friendly mayors get elected.
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Stunning crash at end gives Wheldon 500 victory

May 29, 2011
Associated Press
Rookie JR Hildebrand made the ultimate mistake with his very last turn of the wheel, crashing into the wall and sliding across the finish line.
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Budget cuts will limit Indiana inmate education

May 29, 2011
Associated Press
ndiana lawmakers' decision to cut off grants to state prison inmates attending college could make it harder for prisoners to find employment when they're released, supporters of the program fear.
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Purdue board hikes student tuition, adds fee

May 28, 2011
Associated Press
Purdue University students will begin paying either $400 or $1,000 more in tuition and fees next school year, depending on whether they are in-state or out-of-state.
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Gregg's chances in governor's race may hinge on Obama

May 28, 2011
Associated Press
Democrat John Gregg's chances of winning the governor's office next year will likely hinge on whether President Barack Obama's supporters can work some of the same campaign magic they used in 2008 to turn Indiana a presidential blue for the first time in four decades.
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Central State redevelopment plan gets new lifeRestricted Content

May 28, 2011
Francesca Jarosz
A dormant plan to redevelop the 150-acre former Central State Hospital campus is starting to get momentum. Developers anticipate spending $100 million to $150 million to revamp the site. With online photo gallery
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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.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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