News & Analysis

Appeals court agrees to hear challenge in Simon case

February 16, 2011
Cory Schouten
The Indiana Court of Appeals has agreed to hear an appeal from the widow of the late Melvin Simon, putting on hold a legal dispute over the mall magnate's more than $2 billion estate.
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UPDATE: Borders files bankruptcy, to close 2 area stores

February 16, 2011
 IBJ Staff and Bloomberg News
Borders will close its downtown-Indianapolis and Carmel stores as part of its plan to shutter about 30 percent of its stores nationally.
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Fourth-quarter earnings improve at Calumet

February 16, 2011
Kathleen McLaughlin
Calumet had profit of $9.5 million in the quarter ended Dec. 31, up from $8.2 million in the same quarter of 2009.
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Home construction weak both locally, nationally

February 16, 2011
 IBJ Staff and Associated Press
Home building in the Indianapolis area fell by more than 30 percent n January over the same month of 2010.
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Hamilton County woman to be sentenced in stock scheme

February 16, 2011
Prior to Wednesday's sentencing, the Secretary of State's securities division said it reached an agreement to liquidate the assets of Dorothy Geisler, including her home on Geist Reservoir.
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Reform, revenue behind Franciscan expansion

February 16, 2011
J.K. Wall
Changes unleashed by health reform are pushing Franciscan St. Francis Health’s expansion into Hamilton County—in addition to the obvious pull of the area’s well-heeled population.
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Fort Wayne firm to open health info to patients

February 16, 2011
J.K. Wall
With electronic medical record systems proliferating, there’s information galore about patients. But it’s not so easy for patients to get at it. Now Fort Wayne-based NoMoreClipboard has been charged to design ways to fix that problem.
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Q&A

February 16, 2011
J.K. Wall
Harlon Wilson, president of Indianapolis-based Medical Animatics, says the uncertainty created by the recession and now health care reform have dried up most opportunities for his 3-D animation firm to win new business with health care clients. So he’s looking at new markets—such as the recent online learning work for Harrison College that led Medical Animatics to sell some of its assets to the for-profit university. And Wilson is still banking on persistent needs to educate patients to cause health care to bounce back.
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St. Vincent CEO takes on new duties in Wisconsin

February 16, 2011
J.K. Wall
St. Vincent Health CEO Vince Caponi will take charge of three hospitals in Wisconsin that are also owned by St. Vincent’s parent organization, Ascension Health. He'll also keep his current job.
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Irsay: Colts put franchise tag on Manning

February 15, 2011
Associated Press
Manning, the only four-time MVP in league history, has been given the exclusive franchise tag, a move that could cost the Colts $23 million next season. Team owner Jim Irsay announced the decision Tuesday night on Twitter.
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GOP-led panel tweaks Daniels' school voucher bill

February 15, 2011
Associated Press
Fewer families would qualify for private school vouchers under changes Republican lawmakers have made to Indiana Gov. Mitch Daniels' controversial proposal.
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Indiana Senate panel advances marijuana, meth bills

February 15, 2011
Associated Press
The Senate's criminal law committee voted 5-3 to advance to the full Senate the bill directing the criminal law and sentencing study committee to examine Indiana's marijuana laws next summer and make recommendations.
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Union protests at Statehouse on GOP proposals

February 15, 2011
Associated Press
The future of the bill drawing the strongest ire of the union members remained uncertain as a Republican committee chairman said a decision had not been made on whether so-called right-to-work legislation would be considered this session.
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Indiana House OKs amendment banning gay marriage

February 15, 2011
Associated Press
The Republican-controlled House voted 70-26 to advance the proposal, which must clear two separately-elected Legislatures to get on the ballot for a public vote.
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Fair trustee: Durham committed fraud of 'shocking proportions'

February 15, 2011
Greg Andrews
Fair Finance Co.’s bankruptcy trustee alleges Tim Durham perpetrated a fraud of  "shocking proportions,” draining huge sums from the Akron, Ohio, firm for years to mask that his business empire had collapsed.
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Booster groups Indy Partnership, Develop Indy to merge

February 15, 2011
Cory Schouten
Local economic development groups Indy Partnership and Develop Indy plan to combine operations to save money and more effectively pitch the city and region to potential job creators.
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Logistics provider cutting 76 jobs in Brownsburg

February 15, 2011
Pittsburgh-based Genco ATC is vacating its Brownsburg facility after failing to receive the contract to operate the warehouse at 901 Northfield Drive.
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Business Ownership Initiative hires executive director

February 15, 2011
Sean Morrison
Julie Grice, a 10-year veteran of the Greater Indianapolis Chamber of Commerce and former business owner, began her tenure as executive director of the not-for-profit Business Ownership Initiative of Indiana on Sunday.
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Fair Finance trustee sues Indy attorney for $375,000

February 15, 2011
Greg Andrews
The loan from Fair Finance Co. to Stephen and Linda Plopper matured in 2006, but the couple has failed to satisfy the debt despite recent demands for payment, the suit alleges.
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Parking meter replacement set to begin in March

February 15, 2011
Scott Olson
Affiliated Computer Services, which struck a deal late last year to manage the city's parking meters, will begin replacing meters in downtown Indianapolis and Broad Ripple early next month.
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Senate committee passes sentencing-reform bill

February 15, 2011
Associated Press
An Indiana Senate committee has passed a plan that would keep violent felons in prison longer and reduce punishments for many thefts and drug crimes.
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DeVry Inc. plans to open local nursing school

February 15, 2011
The for-profit school would lease 24,000 square feet at its Keystone Crossing campus and employ 55 people in its nursing program at an average wage of $28.85 an hour. DeVry is requesting property-tax abatement to offset investment costs.
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Indiana launches $250K ad blitz for Illinois businesses

February 15, 2011
Associated Press
State and local officials in northwest Indiana are investing $250,000 in billboards and television and print ads will appear across Illinois and target that state's personal and corporate tax increases.
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Whitsett proposes 86-unit downtown apartment project

February 15, 2011
Tom Harton
The $7.2 million project, to be financed with affordable-housing tax credits, involves retrofitting the three-story former Central Restaurant Products building to accommodate one- and two-bedroom apartments.
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New York Stock Exchange parent to be acquired

February 15, 2011
Associated Press
The parent company of the New York Stock Exchange says it has agreed to combine with the operator of the Frankfurt stock exchange, Deutsche Boerse.
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