News & Analysis

Prominent local car dealer Tom Wood dies

February 4, 2010
Indianapolis car dealer Tom Wood died Thursday morning after battling lung cancer. Wood grew his business from a single dealership he purchased in 1967.
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City lists former Winona Hospital for sale

February 4, 2010
Peter Schnitzler
Indianapolis' Metropolitan Development Commission sets $667,500 minimum price for the long-vacant property at Meridian and 32nd Streets.
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Indiana politicians consider Super Bowl ticket offer

February 4, 2010
Kathleen McLaughlin
The big question for many politicians isn't about ethics. Rather, it's whether to shell out $800 per ticket, plus hotel costs and airfare.
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Movie Gallery files second bankruptcy in two years

February 4, 2010
Bloomberg News
The second-largest company in the movie-rental business behind Blockbuster Inc. is immediately closing 760 locations. The chain operates 14 stores in central Indiana, according to its Web site.
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Baldwin & Lyons swings to a fourth-quarter profit

February 4, 2010
J.K. Wall
Indianapolis-based trucking fleet insurer benefits from investment gains after large losses the previous year.
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Logistics firm closing in Plainfield, leaving 126 jobless

February 4, 2010
NAL Worldwide, which provides third-party logistics and supply-chain services, plans to close its Plainfield location March 31.
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Hill-Rom profit up 40 percent

February 4, 2010
J.K. Wall
Batesville maker of hospital equipment meets analysts' expectations, then raises full-year profit forecast.
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HHGregg's profit, sales rise

February 4, 2010
HHGregg's profit and revenue both increased in its fiscal third quarter, despite a slight dip in same-store sales. The opening of 19 stores helped offset the decrease.
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Brightpoint profit up despite declining revenue

February 4, 2010
 IBJ Staff
Wireless device distributor Brightpoint Inc. saw revenue decline in the fourth quarter, but the Indianapolis-based company still managed to bounce back from $346 million year-ago loss with an $18.3 million quarterly profit.
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UPDATE: Glasscock retirement marks WellPoint's maturation

February 3, 2010
J.K. Wall
Larry Glasscock will step down March 1 as WellPoint CEO Angela Braly takes over leadership of the company's board. She replaced Glasscock as CEO on June 1, 2007.
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Key business issues clear mid-session hurdle

February 3, 2010
Kathleen McLaughlin
The first half of a short session will close Wednesday, meaning bills must have passed out of either the House or Senate to stay alive. Legislation regarding unemployment taxes and township-government reform easily met that deadline.
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Super Bowl legacy project taking shape on east side

February 3, 2010
Scott Olson
A revitalization project that helped Indianapolis land the 2012 Super Bowl is beginning to take shape. Organizers hope to build and rehab about 300 housing units, including the Jefferson Apartments "homeownership incubator."
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PNC to pay back bailout money, sell division

February 3, 2010
 IBJ Staff and Associated Press
PNC, which operates dozens of bank branches in the Indianapolis area under the National City name, is selling its global investment servicing business to Bank of New York Mellon Corp. for $2.3 billion.
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Chairman Glasscock retiring from WellPoint board

February 3, 2010
 IBJ Staff
Larry Glasscock will retire as chairman of WellPoint Inc.'s board, the Indianapolis-based health insurer said early Wednesday. Company CEO Angela Braly will assume the position March 1.
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Health firms still attracting venture capital

February 3, 2010
J.K. Wall
The uncertainty of health care reform and a bad economy curtailed venture capital flow in 2009. That trend hit Indianapolis, but the rest of the state actually saw an increase.
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Employers still fretting about health care reform

February 3, 2010
J.K. Wall
As congressional Democrats work behind closed doors to save health reform legislation, they face a persistent obstacle: super-majorities of employers and employees are convinced reform will raise their costs.
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Salvation Army falls short of fund-raising goal

February 2, 2010
Kathleen McLaughlin
The Salvation Army Indiana said Tuesday that it just missed the $3 million mark in its annual Tree of Lights campaign, partly because the Jan. 12 earthquake in Haiti diverted the staff's attention from the fund-raising effort.
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Deborah Simon says other potential trustees have conflicts

February 2, 2010
Greg Andrews
Melvin Simon's daughter, who's seeking to remove her stepmother from overseeing a trust that holds her late father Melvin's fortune, says a corporate trustee is a better option than brother David Simon or family financial adviser Bruce Jacobson.
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Clarian eyes vacant Levitz space for office, warehouse use

February 2, 2010
Kathleen McLaughlin
Clarian Health Partners is considering converting a long-vacant, 180,000-square-foot Levitz furniture store on East Washington Street into a center for home-health and pharmacy services.
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First hotel in downtown Marriott complex to open doors

February 2, 2010
Scott Olson
The Fairfield Inn & Suites on West Washington Street downtown will open Wednesday. The hotel is the first of four comprising the 1,600-room Marriott Place project to welcome guests.
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Dow AgroSciences profit falls despite revenue increase

February 2, 2010
 IBJ Staff
Indianapolis-based Dow AgroSciences said Tuesday it posted a profit of $69 million in the fourth quarter, down 19 percent from the prior year because of increased research and development spending and higher administrative expenses. Revenue was up 17 percent.
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CBS sells out Super Bowl advertising slots

February 2, 2010
Bloomberg News
More than a dozen first-timers will kick off ad campaigns with spots purchased during the Super Bowl on Sunday, making up for holes left by Priceline.com and Toyota.
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Cincinnati investors buy apartment complex anchored by mansion

February 2, 2010
Tom Harton
Sundance Real Estate Holdings and other investors closed on the 37-unit Mansion Row apartments at 2550 Cold Spring Road on Dec. 30.
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New emissions standards drive up Cummins profit

February 2, 2010
Kathleen McLaughlin
Columbus-based diesel engine maker Cummins Inc. posted its most profitable fourth quarter in company history, thanks to a rush on engines that won't have to conform to new emission standards.
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Bull-riding boss takes reins of Indy Racing League

February 2, 2010
The CEO of the Professional Bull Riders Association has accepted an offer to lead the Indy Racing League. The IRL has been without a leader since Tony George was ousted last summer as boss of the Indianapolis Motor Speedway.
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