News & Analysis

Federal agents raid University Loft headquarters

July 13, 2010
 IBJ Staff
Agents descended on the contract-furniture maker to execute a sealed search warrant. A spokeswoman for U.S. Attorney Tim Morrison said no arrests were made.
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Ruth Lilly's Crows Nest estate listed at $2.9 million

July 13, 2010
The late philanthropist's gated property at 555 Kessler Blvd. in Crows Nest includes a 7,726-square-foot home with indoor pool, a guest house of about 2,000 square feet and formal gardens.
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Simon competitor General Growth files reorganization plan

July 13, 2010
Associated Press
General Growth expects to come out of bankruptcy court with 180 properties, making it the second-largest shopping mall owner behind Indianapolis-based rival Simon Property Group Inc.
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Environmental services firm to build $40M refinery

July 13, 2010
Kathleen McLaughlin
Heritage-Crystal Clean Inc. plans to build an oil re-refinery in Speedway, creating as many as 75 new jobs by 2013.
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Lugar, Meadows projects get tax credits

July 13, 2010
Tom Harton
Two high-profile apartment projects that were denied tax-credit funding in March recently were awarded the millions of dollars in credits they need to proceed.
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Lilly's Alzheimer's gamble takes aim at $10 billion in patent losses

July 13, 2010
Bloomberg News
Both of Lilly's late-stage treatments are designed to reduce plaque in the brain called beta amyloid, thought by researchers to be a main contributor to Alzheimer's. A drug that stops or reduces memory loss caused by Alzheimer's may be worth more than $5 billion a year, an analyst says, helping Lilly overcome the coming patent losses on several important pharmaceuticals.
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Attorney general says schools can't charge bus riders

July 13, 2010
Associated Press
The opinion presents a complication for districts like Franklin Township Schools on the south side of Indianapolis, which had been counting on charging a bus fee of about $75 per rider beginning this fall.
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New March Madness plan includes four first-round games

July 12, 2010
Associated Press
Two of the so-called "First Four" games will match the lowest seeds, between 65 and 68. The other two games will include the last four at-large qualifiers.
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Lilly to cut 170 manufacturing jobs by year's end

July 12, 2010
J.K. Wall
Eli Lilly and Co. will cut 170 jobs—mostly in Indianapolis—from its manufacturing and quality division by the end of the year as it continues its efforts to slim down before losing revenue from patent expirations on its bestselling drugs.
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UPDATE: CIB wringing money from general operating fund to pay Pacers

July 12, 2010
Anthony Schoettle
A combination of taxes targeting downtown visitors and users of the city's professional sports complexes are expected to generate the bulk of the subsidy.
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Marsh workers seek union election at local store

July 12, 2010
Local 700 said worker interest in union representation began to rise at Marsh Supermarkets after Florida-based private equity group Sun Capital Partners acquired the grocery chain in 2006.
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Indianapolis-area homes sales decline 10 percent

July 12, 2010
 IBJ Staff
However, average home-sale prices for the area sprouted 7 percent from the same month a year earlier, to more than $159,000.
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Calumet Specialty plans to sell $450 million of debt

July 12, 2010
 IBJ Staff and Bloomberg News
The Indianapolis-based refiner of specialty hydrocarbon products plans to sell $450 million of senior notes. Proceeds will be used to repay bank debt.
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Ohio manufacturer consolidates distribution in Indy

July 12, 2010
 IBJ Staff
Cleveland-based Earnest Machine Products has signed a five-year lease for an existing 90,000-square-foot building in Park 100 on the city's northwest side.
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City makes $33.5M deal to keep Indiana Pacers

July 12, 2010
 IBJ Staff
The city will contribute $10 million annually for three years toward Conseco Fieldhouse operating expenses. It also will provide at least $3.5 million for capital improvements.
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Herff Jones closing plant in eastern Pennsylvania

July 10, 2010
Associated Press
Indianapolis-based Herff Jones Inc. said it will close the printing plant in eastern Pennsylvania this fall, laying off 107 workers.
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Purdue steps up efforts to halt illegal downloads

July 10, 2010
Associated Press
The Higher Education Opportunity Act requires schools to fight illegal distribution of copyrighted material and educate campus communities about the issue. Schools that don't comply risk losing their eligibility for federal student aid.
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Wind energy transmission raises equity questions

July 10, 2010
Associated Press
Transmission lines costing about $16 billion are needed to move wind energy into the electric grid. But the cost has sparked a debate over who should pay for getting the power from where it is made to where it is consumed.
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Women leading local food movement

July 10, 2010
Marc D. Allan
Women are leading the movement toward healthful, organic food grown close to home. Farmer's markets, CSAs, food co-ops are sign of growing trend.
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Contract pharmaceutical research firm expands to New JerseyRestricted Content

July 10, 2010
J.K. Wall
Concentrics grows in spite of recession as drug companies look for help to handle patent expirations
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Challenging job market trips up new attorneysRestricted Content

July 10, 2010
Michael W. Hoskins
It’s a tough time to be starting in the profession when established lawyers struggle to keep up their practices and client lists.
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Hospitals see dip in charity care after 2008

July 10, 2010
J.K. Wall
Unemployment in Indiana has moderated slightly, but more than 313,000 Hoosiers remain out of work. And with attempts to extend benefits for the jobless stalled in Congress, it’s likely more people will struggle to pay medical bills.
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Ad firm unit studies impact of social media on movie biz

July 10, 2010
Anthony Schoettle
At a time many local advertising agencies are struggling, one firm is growing with an unusual new division aimed at measuring the effects of social media on movies and actors. Bradley and Montgomery late last summer launched Fizziology as a stand-alone enterprise.
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Startup shoots for better Craigslist

July 10, 2010
Chris O'Malley
Zankit, on online classified ad firm that thinks it has a better solution than Craigslist, was hatched only last month and plans a late-July launch. It’s the product of six strangers who met at Indianapolis Startup Weekend just last month.
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Diagnostics division to help Lilly tailor treatmentsRestricted Content

July 10, 2010
J.K. Wall
Eli Lilly and Co. is launching a diagnostics division to produce tests that can winnow out the patients most likely to benefit from a Lilly drug.
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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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