News & Analysis

Pact cuts costs for airlines at Indianapolis International

October 15, 2010
Chris O'Malley
A new agreement brings favorable outcome to negotiations that bottomed in 2007, when passenger carriers complained of footing bill for FedEx Corp.'s airport expansion.
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Local senior living manager makes $60.5M acquisition

October 15, 2010
 IBJ Staff
Indianapolis-based Keystone Senior Living LLC has acquired a portfolio of 28 communities in Minnesota and Wisconsin, more than doubling the units it has under management.
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IURC to re-examine Duke project amid ethics flap

October 15, 2010
J.K. Wall
The commission is summoning the CEO of North Carolina-based Duke Energy to justify the $2.9 billion Edwardsport plant on the same day the state ethics board filed formal charges against a former IURC attorney hired by Duke.
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Emmis loss shrinks as radio stations produce more cash

October 15, 2010
J.K. Wall
The Indianapolis-based media company announced this morning that it lost $2.3 million in the latest quarter, down from a whopping $135.6 million in the same period a year earlier.
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AmericInn buys Fishers hotel, enters local market

October 15, 2010
 IBJ Staff
Minneapolis-based hotel chain AmericInn has purchased a Holiday Inn along Interstate 69 in Fishers, giving the company its first Indiana location.
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Indiana loans for jobless to hit businesses Jan. 1

October 14, 2010
Associated Press
The state will begin paying millions of dollars in penalties and interest to the federal government next year because it has borrowed nearly $2 billion to pay for jobless benefits.
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Former agent's admission shines light on NCAA enforcement

October 14, 2010
Scott Olson
Indianapolis-based college sports body acknowledges that it needs the help of others, including former players, coaches and the National Football League, to reduce improprieties.
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FSSA secretary gets green light to take new job

October 14, 2010
Associated Press
Family and Social Services Administration Secretary Anne Murphy can take a private-sector job helping a hospital network cope with the federal health care overhaul she opposed as a public official, the state ethics commission said Thursday.
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City pitching in $38M for $192M Clarian project

October 14, 2010
Cory Schouten
The city is kicking in up to $38 million for infrastructure upgrades to support a massive expansion of the Clarian Health campus at 16th Street and Capitol Avenue.
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Applications for jobless benefits rise again

October 14, 2010
Associated Press
Applications for jobless benefits rose last week for the first time in three weeks, evidence that companies are still reluctant to hire in a slow economy.
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Roche acquires assets from Virginia IT company

October 14, 2010
Terms of the deal, announced on Wednesday, call for Roche to acquire all the assets associated with Medical Automation Systems Inc.'s point-of-care information technology connectivity system.
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ChaCha lands $20 million venture investment

October 14, 2010
 IBJ Staff
The funding comes from new investors VantagePoint Venture Partners and Rho Ventures. Since its inception in December 2005, ChaCha has raised more than $50 million, including $7 million earlier this year from a venture capital fund.
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Schools, state argue in court over funding formula

October 13, 2010
Associated Press
Hamilton Southeastern Schools, Franklin Township Schools and Middlebury Community Schools sued the state in February, claiming its school funding formula unfairly penalizes growing districts.
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Purdue pay freeze could end soon for some

October 13, 2010
Associated Press
Purdue President France Cordova will ask university trustees to approve 1.5-percent merit raises for some employees, providing them with their first pay increase in more than two years.
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Durham art auction offers hope for Ohio investors

October 13, 2010
Cory Schouten
The eclectic art collection of disgraced financier Tim Durham will hit the auction block Saturday in a sale that could help restore a small portion of the money lost by investors in Ohio's Fair Finance.
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Rokita to politicians: Careful with donations from union

October 13, 2010
J.K. Wall
Secretary of state warns candidates that if he prevails in court, his securities division staff will pursue any money the candidates received from the Indiana State Teachers Association's political action committee.
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Heating bills should be cheaper this winter, utility says

October 13, 2010
Citizens Energy Group projects that the gas bill of its average residential customer will decline about 7 percent over the winter heating season. The utility said a customer who uses the typical amount of natural gas will spend $580, down from $620 last season.
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LEADING QUESTIONS: CPA Sponsel takes calculated risk

October 13, 2010
Mason King
Sponsel WatchVideoWith a family history rich with entrepreneurs, Tom Sponsel decided late in his accounting career to strike out on his own.
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WellPoint, Aetna led U.S. insurers in coverage denial

October 13, 2010
Bloomberg News
Until all consumers are required to buy health insurance, coverage restrictions are needed to keep people from gaming the system, insurers say.
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Biomet sales rise, but slower than expected

October 13, 2010
Associated Press
Biomet's quarterly results are considered an indicator on the state of the orthopedic device industry because it reports results before most of its competitors.
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Duke Energy wins verdict reversal in clean-air case

October 13, 2010
Bloomberg News
The renovations complied with Indiana's plan for implementing the federal Clean Air Act, a three-judge panel of the U.S. Court of Appeals in Chicago said in Tuesday's ruling.
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Lilly falls short on 'field goal' attempt

October 13, 2010
J.K. Wall
Eli Lilly and Co.’s “miss” on a new use for its cancer drug Alimta was a rare failure to get an existing drug approved for a new use—even though the company has struggled mightily to get entirely new drugs to market.
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Irsay: NFL owners, players 'have to find a solution'

October 13, 2010
Bloomberg News
National Football League owners are looking for ways to reach a new labor deal with players and preparing for what happens if those efforts don’t succeed. A strike or lockout could affect Indianapolis' plans to host the 2012 Super Bowl.
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German steelmaker expanding in Tell City

October 12, 2010
Associated Press
A unit of the German steelmaker ThyssenKrupp AG said Tuesday it will invest $36.5 million in equipment to expand capacity at the 480,000-square-foot plant, creating up to 160 jobs.
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Reebok's loss of NFL contract could hurt local plant

October 12, 2010
 IBJ Staff and Bloomberg News
Competitor Nike Inc. will become the official apparel maker for the National Football League in 2012. The loss of the contract could mean layoffs at the Reebok plant on Indianapolis' east side that makes NFL apparel and employs about 1,000.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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