News & Analysis

M&I Bank names new Indiana president

October 20, 2010
 IBJ Staff
Tim Massey, who has been head of commercial banking, replaces Reagan Rick, who was promoted to a regional management position.
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Vera Bradley set to go public

October 20, 2010
Scott Olson
The Fort Wayne-based company is scheduled to begin trading as a public company Wednesday morning. The estimated offering price is $14 to $16 each, although a Morningstar analyst predicts the IPO could bring as much as $18 a share.
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'Payer mix' playing role in hospital merger

October 20, 2010
J.K. Wall
Morgan Hospital & Medical Center is on the brink of merging with Clarian Health for a variety of reasons, but one of the biggest is one that all hospitals are facing in one way or another: a declining payer mix.
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Some Lilly-paid docs sport spotty records

October 20, 2010
J.K. Wall
Eli Lilly and Co. paid more than $102 million last year and early this year to physicians for talking up Lilly drugs to other doctors. Yet 88 of the doctors Lilly pays have been sanctioned by state medical boards.
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Q&A

October 20, 2010
J.K. Wall

Amy Zucker is president of Indianapolis-based Synergy Marketing Group. Her firm was recently hired by Indianapolis-based ImmuneWorks Inc. to use a new website and search engine optimization to help recruit patients for a Phase 1 trial of ImmuneWorks experimental medicine idiopathic pulmonary fibrosis. The Web strategy is a new wrinkle on patient recruitment—in addition to the traditional partnerships with disease specialists at academic medical centers—that Zucker hopes leads to lower costs and faster clinical trials. Phase 1 clinical trials cost nearly $16,000 per patient.

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Principal Financial shift to result in local layoffs

October 20, 2010
 IBJ Staff
Financial giant Principal Financial Group Inc. is exiting the health insurance business, a move that will cost 60 Indianapolis workers their jobs.
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Indiana couple accuses Bank of America of racketeering

October 20, 2010
Bloomberg News
Dwayne Ransom Davis and Melisa Davis accuse the lender of using “robo-signers,” people who sign affidavits attesting to facts underlying foreclosures without actual knowledge of those facts, to push through paperwork to take their home in Knightstown.
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FDA demands more tests on new Lilly diabetes drug

October 19, 2010
J.K. Wall
Eli Lilly and Co. will have to wait at least 18 months and conduct more studies before it wins market approval of a once-weekly version of diabetes drug Byetta, a potential billion-dollar drug.
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ISO chooses young maestro Urbanski as director

October 19, 2010
Kathleen McLaughlin
Krzysztof Urbanski, 28, has been named the seventh music director in the Indianapolis Symphony Orchestra's 80-year-history.
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3Mass resident sues developer over accessibility

October 19, 2010
Cory Schouten
A resident of the 3Mass condo development who uses an electric wheelchair is suing the developers for failing to provide handicap accessibility to a rooftop terrace.
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Consulate buys East Street space, leaving Union Station

October 19, 2010
Tom Harton
The Mexican Consulate has been a tenant at the city-owned Union Station since it opened an office here in November 2002. The new site will more than quadruple its space.
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Thinner margins squeeze Steel Dynamics profit

October 19, 2010
The Fort Wayne-based steelmaker reported profit of $19 million, or 9 cents per share, compared with $69 million, or 30 cents per share, in the same period last year.
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Indiana commerce agency, Purdue plan California office

October 19, 2010
Associated Press
Officials say the Silicon Valley office will focus on attracting California companies to move to Indiana and to sell venture capitalists on ideas and research generated by Purdue faculty and entrepreneurs.
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U.S. court voids NCAA ruling, seeks help on state law

October 18, 2010
Bloomberg News
A three-judge panel of the Chicago-based appeals court Monday reversed its own July ruling that said the NCAA must face a lawsuit by consumers claiming its ticket-distribution method violates Indiana law.
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IUPUI adjunct instructors call for more pay

October 18, 2010
J.K. Wall
Full-time professors support part-time instructors in their demands to share in Indiana University's 3-percent faculty raises.
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Demolition begins on vacant Speedway motel

October 18, 2010
Scott Olson
The former Budget Inn property near Interstate 465 on the west side of Speedway has been the site of 40 police runs over the past six months.
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GE to pump $161 million into Bloomington plant

October 18, 2010
General Electric announced Monday morning that it plans to invest $161 million at its Bloomington refrigerator plant, creating up to 200 jobs by 2014. The plant, which was once slated for closure, now has more than 500 employees.
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Lilly to close drug discovery center in Singapore

October 18, 2010
Bloomberg News
Indianapolis-based Eli Lilly and Co. will close its drug discovery center in Singapore, three years into a five-year, $150 million plan to expand it.
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Presidential hopefuls Daniels, Pence reflect two sides of GOP

October 18, 2010
Mary Dieter
If Gov. Mitch Daniels and U.S. Rep. Mike Pence become presidential candidates, through them Indiana will represent something of a microcosm of the national Republican Party and its philosophical wings.
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Fair Finance artwork fetches more than $400,000 at auction

October 17, 2010
Jim Mackinnon / Akron Beacon Journal
Saturday's art auction of work collected by Fair Finance co-owner Timothy Durham raised more than $400,000 — well above what the Akron company's bankruptcy trustee and even the auctioneer thought would be brought in.
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Zionsville galleries watching Carmel arts district

October 16, 2010
Kathleen McLaughlin
Zionsville gallery owners are stepping up their collective marketing efforts as Carmel’s Arts and Design District has landed a new wave of artists and gallery owners over the past five months.
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Indiana Live swamped by debt, faces potential default

October 16, 2010
Francesca Jarosz
Owners of the Indiana Live racetrack and casino face an interest payment on the lion’s share of their $544 million in debt next month, as credit analysts continue fretting about the company’s ability to pay its bills.
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Glicks changing charitable approach

October 16, 2010
Kathleen McLaughlin
After pledging $62 million for a series of high-profile capital projects in and around Indianapolis, Eugene and Marilyn Glick’s charitable foundations are changing directions, making programs and services their top priority.
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Hentschel ramrodding KeyBank development in IndianapolisRestricted Content

October 16, 2010
Scott Olson
Exec adds branches, deposits, after completing a stint at a human-resources firm.
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Banks tread water as they wait for economy to improve

October 16, 2010
Francesca Jarosz
Banking experts say the health of Indiana institutions is taking baby steps forward along with the tepid economic recovery. But in these times, recovery looks grimmer than one might expect.
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