News & Analysis

Refinancing boosts Bioanalytical Systems

December 8, 2010
J.K. Wall
Shares of the West Lafayette-based pharmaceutical-services firm soared after it wriggled out from under a $1.3 million loan that was due in February.
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Q&A

December 8, 2010
J.K. Wall
Molecular biologist,David G. Skalnik will become associate dean for research and graduate education at the IUPUI School of Science in January. Since 1991, Skalnick has been a researcher at the Indiana University School of Medicine, leading a team of three in the study of epigenetics—factors that influence whether certain genes are turned on or turned off.
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Law affects hospitals with doctor-held debt

December 8, 2010
J.K. Wall
Health care reform put strict limits on physician-owned hospitals, but it seems the law also restricts hospitals that have physician-owned debt.
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Simon may drop interest in Capital Shopping Centres

December 8, 2010
Bloomberg News
Indianapolis-based Simon Property Group Inc. will end its interest in buying Capital Shopping Centres Group Plc if the U.K. company doesn’t provide information necessary to evaluate a bid.
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Carmel-based wind-gear maker plans Marion plant

December 7, 2010
 IBJ Staff
Vela Gear Systems LLC, a Carmel-based startup manufacturer of large-scale gears for wind-turbine assemblies, said it will make a multimillion dollar investment to construct a 250,0000-square-foot plant in Marion, creating up to 163 jobs by 2013.
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Indiana cattle firm may face involuntary bankruptcy

December 7, 2010
Associated Press
An Indiana firm under federal investigation for passing bad checks for cattle purchases could find itself forced into bankruptcy proceedings if a judge grants a motion filed by some of those owed money.
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IURC clears ex-judge in Duke Energy ethics scandal

December 7, 2010
The Indiana Utility Regulatory Commission's internal probe found no irregularities regarding former administrative law judge Scott Storms' handling of Duke Energy cases, but it did reopen a case Storms handled in July involving storm damages.
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Indiana church financier gets 54 years for Ponzi scheme

December 7, 2010
Associated Press
A judge sentenced 66-year-old Vaughn Reeves to 54 years in prison during a court hearing Tuesday in Sullivan. A jury convicted him in October on nine counts of securities fraud.
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Builders of faulty Indiana bridge face state-work ban

December 7, 2010
Associated Press
A committee has recommended that the state highway department stop hiring Gary-based Superior Construction Co. and Indianapolis-based bridge designer RQAW Corp. over a northwestern Indiana highway that has been closed because of safety concerns.
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Local firm set to launch two more mutual funds

December 7, 2010
Scott Olson
Founded in 2005, The Archer Funds will now have three mutual funds to offer clients. It is among just a handful of locally based firms that markets its own mutual funds.
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IMOCA settles in at Murphy Arts, calls off move

December 7, 2010
Kathleen McLaughlin
The Indianapolis Museum of Contemporary Art, which faltered in the summer of 2009, is on stable footing at its year-old location in Fountain Square—so much so that it won't move closer to downtown, as it had planned.
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City Market tenant agrees to move to alternate space

December 7, 2010
Scott Olson
Under a settlement, the Indianapolis City Market dropped its attempts to evict the Grecian Garden after the restaurant said it would relocate to accommodate a renovation.
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Duke poised to buy South Florida portfolio

December 7, 2010
Tom Harton
The purchase of the $500 million portfolio of industrial and office properties would continue Duke’s recent push into the South Florida market.
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Nursing home firm to pay $376K in Medicaid case

December 6, 2010
Associated Press
Indiana Attorney General Greg Zoeller says a nursing home company will pay $376,000 to the state and federal governments over accusations that it submitted ineligible bills to Medicaid.
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Indianapolis Symphony's deficit nears record

December 6, 2010
Kathleen McLaughlin
The Indiana Symphony Society on Monday reported a near-record deficit of $2.7 million for the 2010 fiscal year. And symphony CEO Simon Crookall said this won't be the end of the bleeding.
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Controversial Martin University president to retire this month

December 6, 2010
 IBJ Staff
Algeania Freeman will retire Dec. 31 after three years at the school, officials said late Monday morning. Former NCAA executive Charlotte Westerhaus will serve as acting president while the predominantly black university conducts a nationwide search for a new leader.
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Tabbert Hahn lawyers joining Bose McKinney

December 6, 2010
Scott Olson
Bose McKinney will take nine lawyers, including name partners Gregory Hahn and Robert Weddle, from smaller law firm that will dissolve near the end of the year.
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WOJTOWICZ: How to lay your hands on working capital

December 6, 2010
Jean Wojtowicz
Small-business owners looking for working capital would be well-served to do their research in advance and can ask their bankers about several approaches, including financing based on assets.
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Dow Agro target of patent-infringement lawsuit

December 6, 2010
Bloomberg News
A unit of Bayer AG, Europe’s largest drug and chemical maker, is suing Indianapolis-based Dow AgroSciences LLC in federal court in Delaware alleging infringement of a U.S. patent for herbicide-resistant crops.
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Republic sues website operator over airline gift cards

December 6, 2010
Bloomberg News
Indianapolis-based Republic Airways Holdings Inc. and its Frontier Airlines unit filed a trademark-infringement case against the operator of a website offering gift cards as consumer incentives.
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Charities struggling to keep up with growing need

December 5, 2010
Associated Press
The chief operating officer for Gleaners Food Bank of Indiana said demand caused by the economic downturn is unprecedented in the organization's 30-year history.
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Exports fueling Indiana business growth

December 4, 2010
Kathleen McLaughlin
Firms are taking matters into their own hands to open trade relationships overseas, developing export policies they hope will benefit themselves and their communities.
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Simon Property offers to settle dispute over widow's stake

December 4, 2010
Cory Schouten
Simon Property Group Inc. has offered to settle a lawsuit with Bren Simon by cashing out 6.5 million partnership units her late husband Melvin held in the giant shopping mall developer.
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Touted Build America Bonds may not be available for utility dealRestricted Content

December 4, 2010
Chris O'Malley
Citizens Energy previously said not using the bonds would add about $100 million to the cost of the deal over 30 years.
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Menard lawsuit entangles businessmen Hilbert, Dick

December 4, 2010
Kathleen McLaughlin
Former Conseco executives Steve Hilbert and Rollin Dick are caught in a bitter legal battle between billionaire hardware king John Menard and his ex-fiancee.
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  1. From the story: "The city of Indianapolis also will consider tax incentives and funding for infrastructure required for the project, according to IEDC." Why would the City need to consider additional tax incentives when Lowe's has already bought the land and reached an agreement with IEDC to bring the jobs? What that tells me is that the City has already pledged the incentives, unofficially, and they just haven't had time to push it through the MDC yet. Either way, subsidizing $10/hour jobs is going to do nothing toward furthering the Mayor's stated goal of attracting middle and upper-middle class residents to Marion County.

  2. Ron Spencer and the entire staff of Theater on the Square embraced IndyFringe when it came to Mass Ave in 2005. TOTS was not only a venue but Ron and his friends created, presented and appeared in shows which embraced the 'spirit of the fringe'. He's weathered all the storms and kept smiling ... bon voyage and thank you.

  3. Not sure how many sushi restaurants are enough, but there are three that I know of in various parts of downtown proper and all are pretty good.

  4. First off, it's "moron," not "moran." 2nd, YOU don't get to vote on someone else's rights and freedoms that are guaranteed by the US Constitution. That's why this is not a state's rights issue...putting something like this to vote by, well, people like you who are quite clearly intellectually challenged isn't necessary since the 14th amendment has already decided the issue. Which is why Indiana's effort is a wasted one and a waste of money...and will be overturned just like this has in every other state.

  5. Rick, how does granting theright to marry to people choosing to marry same-sex partners harm the lives of those who choose not to? I cannot for the life of me see any harm to people who choose not to marry someone of the same sex. We understand your choice to take the parts of the bible literally in your life. That is fine but why force your religious beliefs on others? I'm hoping the judges do the right thing and declare the ban unconstitutional so all citizens of Wisconsin and Indiana have the same marriage rights and that those who chose someone of the same sex do not have less rights than others.

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