News & Analysis

Health insurance brokers set for shakeoutRestricted Content

February 5, 2011
J.K. Wall
Health insurance brokers, who match up employers with health insurance policies, are about to have a brighter light shone on the commissions they earn from insurers. The likely result: Commissions will fall or flatline and, eventually, fall away in favor of fee-based business models.
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Will city be ready for Super Bowl blitz?

February 5, 2011
Anthony Schoettle
The compact nature of downtown Indianapolis—long seen as a major draw for conventions and other events—is creating challenges for organizers of next year’s Super Bowl.
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INSIDE DISH: Squealers goes whole hog on franchising

February 4, 2011
Mason King
Dish_Squealers_watch_videoJeff Yater has ushered his meat-lovers concept from the barbecue competition circuit to two Indy-area restaurants. Now he wants to recruit wannabe franchisees with $500,000 and a passion for chicken, beef and pork.
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2010 compensation fell about 20 percent for top Lilly execs

February 4, 2011
J.K. Wall
Compensation for Eli Lilly and Co.’s top executives fell last year due to a change to its stock award program and as the company struggled to bring new medicines to market.
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Cancer drugmaker Endocyte raises $75 million in IPO

February 4, 2011
Bloomberg News
Indiana-based Endocyte Inc., a developer of drugs for ovarian and lung tumors, raised $75 million in its initial public offering after cutting the price twice this week for a total reduction of as much as 60 percent.
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Purdue cancels $28 million coal-fired power plant

February 4, 2011
Associated Press
The school's board of trustees voted Friday morning to cancel the $28 million project for the Wade Utility Plant based on financial and regulatory concerns.
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Indiana Farm Bureau unveiling ads during Super Bowl

February 4, 2011
Scott Olson
The insurer's new campaign, developed by local advertising firm Young & Laramore, focuses on real-life situations amid a crowded field of competitors.
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Consumer groups balk at bills to speed utility cost recovery

February 4, 2011
Chris O'Malley
Proposals would mitigate rate spikes, says utility industry. Consumer groups call proposed legislation a rubber stamp for utilities.
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Brightpoint shares bask in afterglow of earnings report

February 4, 2011
The stock has soared more than 28 percent since Wednesday's earnings report.  Growth of smart phones and European logistics prospects helped Brightpoint beat earnings estimates.
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Endocyte again changes terms of public offering

February 4, 2011
 IBJ Staff and Bloomberg News
The West Lafayette-based biopharmaceutical company now is planning to offer at least 12.5 million shares, or 17 percent more than previously announced, but at a lower price of $6 each.
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Sport Graphics making its mark in Dallas this week

February 4, 2011
Anthony Schoettle
Locally based Sport Graphics scored a "six-figure" deal with the NFL to design, make and install all Super Bowl signage—in Dallas and Indianapolis.
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Indiana plans Reagan celebration at Statehouse

February 4, 2011
Associated Press
The Ronald Reagan Centennial Celebration is scheduled for Feb. 10 at the Indiana Statehouse. The celebration is part of events nationwide celebrating Reagan's life.
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Jobless rate falls to 9 percent despite weak job growth

February 4, 2011
Associated Press
The economy generated only 36,000 net new jobs in January, the fewest in four months, but the unemployment rate fell because many of those out of work gave up on their job searches.
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Purdue poised to cancel coal-fired power plant

February 4, 2011
Associated Press
Purdue University is moving to call off plans for a new coal-fired power unit that had been strongly opposed by environmental activists.
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Simon Property's quarterly profit rises on improving retail sales

February 4, 2011
 IBJ Staff and Bloomberg News
Earnings for the Indianapolis-based shopping mall owner increased to $217.9 million in the fourth quarter, up from $91.5 million in the fourth quarter of 2009. Funds from operations, a key measurement used by real estate investment trusts, also improved.
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Missionary group says vendor holding website hostage

February 4, 2011
Evangelical Baptist Missions Inc. says its former IT vendor is holding its website hostage—potentially hampering the safety of people working abroad.
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Klipsch selling for $166M, Audiovox says

February 3, 2011
 IBJ Staff
Klipsch will become a subsidiary of Audiovox and operate as a stand-alone operation in Indianapolis under the leadership of the current management team, Audiovox said.
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Tighter rules for scholarship program advance

February 3, 2011
Associated Press
Indiana's popular 21st Century Scholars program that provides full college scholarships to needy students who stay out of trouble would have stiffer requirements under a proposal approved Thursday by a legislative committee.
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MacAllister Machinery acquires Michigan company

February 3, 2011
Indianapolis-based MacAllister Machinery has acquired Michigan Tractor and Machinery Co., which has 590 employees and is Michigan's top Caterpillar dealer.
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NFL labor situation a hot topic in Dallas

February 3, 2011
Anthony Schoettle
A lockout is predicted by many, but whether labor strife ultimately affects the 2012 Super Bowl in Indianapolis remains to be seen.
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Dow Agro's quarterly sales, profit climb

February 3, 2011
 IBJ Staff and Associated Press
Indianapolis-based Dow AgroSciences on Thursday reported record fourth-quarter revenue of $1.3 billion, up 19 percent from the prior-year period.
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Baldwin & Lyons reports higher revenue, lower profit

February 3, 2011
Indianapolis-based insurer of car and truck fleets posts quarterly profit slightly lower than a year ago. Revenue, however, rose to $67.7 million, up from $60.8 million in 2009.
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Judge orders concrete company to bargain with union

February 3, 2011
Irving Ready-Mix was ordered to restore pay to workers that had been cut by nearly $3 an hour and to recognize the union as the collective bargaining representative of the employees.
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Indiana took in more revenue than expected in January

February 2, 2011
Associated Press
So far this fiscal year, collections are ahead of the state's forecast by $78 million, or 1.1 percent.
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Indiana OKs 26-percent Indianapolis water increase

February 2, 2011
 IBJ Staff and Associated Press
Regulators have approved a 26-percent rate increase for Indianapolis water customers, the Indiana Utility Regulatory Commission announced Wednesday, less than the 33.4-percent increase requested.
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  1. to mention the rest of Molly's experience- she served as Communications Director for the Indianapolis Department of Public Works and also did communications for the state. She's incredibly qualified for this role and has a real love for Indianapolis and Indiana. Best of luck to her!

  2. Shall we not demand the same scrutiny for law schools, med schools, heaven forbid, business schools, etc.? How many law school grads are servers? How many business start ups fail and how many business grads get low paying jobs because there are so few high paying positions available? Why does our legislature continue to demean public schools and give taxpayer dollars to charters and private schools, ($171 million last year), rather than investing in our community schools? We are on a course of disaster regarding our public school attitudes unless we change our thinking in a short time.

  3. I agree with the other reader's comment about the chunky tomato soup. I found myself wanting a breadstick to dip into it. It tasted more like a marinara sauce; I couldn't eat it as a soup. In general, I liked the place... but doubt that I'll frequent it once the novelty wears off.

  4. The Indiana toll road used to have some of the cleanest bathrooms you could find on the road. After the lease they went downhill quickly. While not the grossest you'll see, they hover a bit below average. Am not sure if this is indicative of the entire deal or merely a portion of it. But the goals of anyone taking over the lease will always be at odds. The fewer repairs they make, the more money they earn since they have a virtual monopoly on travel from Cleveland to Chicago. So they only comply to satisfy the rules. It's hard to hand public works over to private enterprise. The incentives are misaligned. In true competition, you'd have multiple roads, each build by different companies motivated to make theirs more attractive. Working to attract customers is very different than working to maximize profit on people who have no choice but to choose your road. Of course, we all know two roads would be even more ridiculous.

  5. The State is in a perfect position. The consortium overpaid for leasing the toll road. Good for the State. The money they paid is being used across the State to upgrade roads and bridges and employ people at at time most of the country is scrambling to fund basic repairs. Good for the State. Indiana taxpayers are no longer subsidizing the toll roads to the tune of millions a year as we had for the last 20 years because the legislature did not have the guts to raise tolls. Good for the State. If the consortium fails, they either find another operator, acceptable to the State, to buy them out or the road gets turned back over to the State and we keep the Billions. Good for the State. Pat Bauer is no longer the Majority or Minority Leader of the House. Good for the State. Anyway you look at this, the State received billions of dollars for an assett the taxpayers were subsidizing, the State does not have to pay to maintain the road for 70 years. I am having trouble seeing the downside.

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