News & Analysis

U.S. consumer spending rises less than expected

June 26, 2014
Bloomberg News
Consumer purchases, which account for about 70 percent of the economy, climbed 0.2 percent in May after being little changed in April, Commerce Department figures showed Thursday. Analysts expected a rise of 0.4 percent.
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Notre Dame, GE plan turbine-research facility in Indiana

June 26, 2014
Associated Press
The University of Notre Dame and General Electric Co. on Thursday announced plans to partner in a $36 million research and test facility for massive gas turbine engines used by commercial and military aircraft, power plants, and the oil and gas industry.
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Aereo court ruling sidesteps cloud-computing questions

June 26, 2014
Bloomberg News
As Aereo Inc.’s streaming-TV service was dealt a potentially fatal blow Wednesday, the cloud-computing industry was more concerned about what the U.S. Supreme Court didn’t say.
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Judge overturns Indiana marriage law; same-sex couples marry in Marion County

June 25, 2014
Paige Clark, The Statehouse File
A federal judge has overturned the state’s ban on same-sex marriage, leaving open the door for gay couples to marry immediately. By the end of the day, more than 180 same-sex couples had been married in Marion County.
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Indiana to study peer cities to learn growth strategies

June 25, 2014
Allie Nash, The Statehouse File
The Indiana Economic Development Corp. will conduct a study to compare Indiana cities to others across the region that are economically booming, the IEDC announced Wednesday.
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Ball State fraud involved failed internal controls

June 25, 2014
Associated Press
Ball State Treasurer Randy Howard told The Star Press he doesn't know whether that failure involved deception by anyone at the university, lack of due diligence or both.
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Indiana man pleads guilty in fake credit union case

June 25, 2014
 Associated Press and IBJ Staff
An Indianapolis man has pleaded guilty to a Ponzi scheme that defrauded thousands of investors of millions of dollars through a fake online credit union.
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Pence names social services chief after sudden exit

June 25, 2014
Associated Press
Indiana Gov. Mike Pence picked a new secretary Wednesday to run the Family and Social Services Administration and created a position overseeing his proposed alternative to traditional Medicaid.
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NFL agrees to remove $675 million cap on head injuries

June 25, 2014
Associated Press
The NFL agreed Wednesday to remove a $675 million cap on damages from thousands of concussion-related claims after a federal judge questioned whether there would be enough money to cover as many as 20,000 retired players.
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Ex-Colt testifies to Senate panel about brain damage

June 25, 2014
Associated Press
Former NFL tight end Ben Utecht told a Senate hearing Wednesday that he fears where his history of brain injuries will leave him in the future.
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Developer requesting $1M over Broad Ripple project delays

June 25, 2014
Scott Olson
Browning Investments Inc. is seeking the damages from opponents of its proposed $30 million apartment-and-retail projects for costs related to construction delays due to a pending appeal.
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First quarter GDP numbers much worse than estimated

June 25, 2014
Bloomberg News
U.S. gross domestic product fell at a 2.9-percent annualized rate in the first quarter, the worst reading since the same three months in 2009, after a previously reported 1-percent drop, the Commerce Department said Wednesday.
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OneAmerica acquires California retirement business

June 25, 2014
Kathleen McLaughlin
OneAmerica Financial Partners Inc. announced Wednesday that it will acquire a San Diego-based retirement business, gaining access to another large market.
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Judge strikes down Indiana ban on gay marriage

June 25, 2014
Associated Press
U.S. District Judge Richard Young ruled that the state's ban violates the U.S. Constitution's equal-protection clause because it treats same-sex couples differently than couples of opposing genders.
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ISO sees surge in ticket sales, led by subscriptions

June 25, 2014
Lou Harry
The Indianapolis Symphony Orchestra enjoyed a nearly 19-percent surge in ticket sales during the 2013-14 indoor concert season, which ended this month, the ISO said Tuesday.
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Big Ten presidents back four-year scholarships

June 25, 2014
Associated Press
The league announced in a statement signed Tuesday by its 14 presidents that it proposes working within the NCAA structure to provide greater academic security for its athletes by guaranteeing scholarships for four years.
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Pence seeks review to simplify Indiana tax code

June 24, 2014
Associated Press,  The Statehouse File
Gov. Mike Pence said Tuesday he wants to review Indiana's tax code to simplify it and promote economic development. His comments came at the Tax Competitiveness and Simplification Conference, which culled general ideas for tax reform from a mix of national and state tax experts.
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Investors in church-related fraud to get most of their money

June 24, 2014
Associated Press
Investors will get 70 cents for every dollar they invested in an $85 million Ponzi scheme operated by a fundraising branch of the Church of God.
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Feds raise several issues about proposed reservoir

June 24, 2014
Associated Press
Two federal agencies are raising questions about a proposed $400 million Mounds Lake Reservoir, including the plan's failure to address alternatives to damming the White River.
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Novitex plans closure, 155 job losses in Plainfield

June 24, 2014
 IBJ Staff
The company said in a letter to the Indiana Department of Workforce Development dated Monday that it expects to begin closing operations at 2799 Reeves Road in late August with permanent closure occurring by early September.
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Archivist: IRS didn't follow law with lost emails

June 24, 2014
Associated Press
The Internal Revenue Service did not follow the law when it failed to report the loss of records belonging to a senior IRS executive, the nation's top archivist told Congress on Tuesday.
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Auto supplier expected to bring about 250 jobs to Indiana

June 24, 2014
Associated Press
An auto supplier has signed a lease to move into a new 150,000-square-foot building in Jeffersonville this summer, officials said.
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CBRE awarded management of Chase Tower, PNC Center

June 24, 2014
The real estate brokerage won the business following a shakeup at Commonwealth REIT, which owns the building. An investor campaign led to the ouster of its board in March.
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Flex-office operator adds 58 suites in Mass Ave area

June 24, 2014
Scott Olson
Regus Group plc, which has other locations in the Indianapolis area, has taken more than 10,000 square feet downtown to open its latest flex-office center, where business owners can rent space by the day, week or month.
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Fishers health analytics firm to expand, add workers

June 24, 2014
 IBJ Staff
Healthiest Employers LLC plans to move software development to its Fishers headquarters in an expansion that will add up to 90 jobs by 2017.
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