News & Analysis

Dow Agro reports record second-quarter sales

July 23, 2014
 Bloomberg News and IBJ Staff
Dow AgroSciences LLC posted sales of $1.9 billion in the second quarter, an increase of 3 percent over last year's second period, the Indianapolis-based company reported Wednesday morning.
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Simon profit jumps on improving occupancy, rents

July 23, 2014
The company reported a 20-percent increase in profit in the second quarter as occupancy in its malls climbed to 96.5 percent, prompting Simon to raise its guidance.
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Steel demand feeds shipping boom in Indiana

July 23, 2014
Associated Press
The automotive industry is behind the increase, pushing steel ahead of longtime leaders iron ore and coal.
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UPDATE: Lowe's to invest $20.5M in customer-service center

July 22, 2014
Mason King
The home-improvement retail titan plans to begin hiring immediately for the center on the northeast side, pledging to employ as many as 1,000 workers making wages of $10 to $14 per hour.
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Dueling rulings: Courts split on health law clash

July 22, 2014
Associated Press
President Barack Obama's health care law is snarled in another big legal battle, with two federal appeals courts issuing contradictory rulings on a key financing issue within hours of each other Tuesday.
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Gay couples' lawyers object to full-court hearing

July 22, 2014
Associated Press
Attorneys on either side of a lawsuit over Wisconsin and Indiana's overthrown gay marriage bans are wrangling over how many federal judges should hear the states' appeal.
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Lawmakers approve pair of new license plates

July 22, 2014
Associated Press
A panel of state lawmakers on Tuesday approved license plates recognizing the Indy 500 and Abraham Lincoln under a new system clamping down on the number of special license plates on the road.
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First Merchants acquires Noblesville-based bank

July 22, 2014
 IBJ Staff
Muncie-based First Merchants Corp. has agreed to acquire Noblesville-based Community Bancshares Inc. for about $46 million in stock, the companies announced Tuesday.
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Court nixes Obamacare subsidies for Indiana, 35 other states

July 22, 2014
 Bloomberg News and IBJ Staff
The Obamacare tax credits that brought nearly $400 million to Indiana this year to help Hoosiers buy health insurance could go away after a federal appeals court ruled Tuesday they were illegal.
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Kite Realty to engineer 1-for-4 reverse stock split

July 22, 2014
Mason King
The move will hike the real estate firm's stock price, combining every four shares into a single share. Kite officials hope a double-digit price will give shares a more stable foundation and an image makeover.
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Marion among counties picked for pre-K pilot program

July 22, 2014
 The Statehouse File
Five Indiana counties will be part of the state’s preschool pilot program for low-income children, which could be launched in early 2015.
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Wabash College religion center gets $7.8 million

July 22, 2014
Associated Press
The grant will let the center continue programming through 2018. It brings to more than $48 million the total grants the Indianapolis-based Lilly Endowment has given the center.
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Hauke accounting firm to pay $1.8M in fraud settlement

July 22, 2014
Jeff Newman
DeWitt & Shrader PC, an Indianapolis-based accounting firm that worked for convicted Ponzi schemer Keenan Hauke, has agreed to settle a state lawsuit, Indiana Secretary of State Connie Lawson announced Tuesday.
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IU business school expansion nearing completion

July 22, 2014
Associated Press
Started in May 2012, the 90,000-square-foot expansion on four stories adds classrooms, meeting spaces and career training offices to the undergraduate business building in Bloomington.
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Interactive Intelligence set to break ground on $12.5M building

July 22, 2014
Scott Olson
The 119,000-square-foot structure will be built next to the software developer's headquarters on the northwest side as part of its growth plans to add 430 employees within the next few years.
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Area home-construction permit filings tick up

July 22, 2014
 IBJ Staff
Filings in the nine-county metro area have shown slight year-over-year improvement in four of this year’s six months.
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Judge blocks ordinance aimed at I-69 work noise

July 21, 2014
Associated Press
Marion County Judge David Dreyer issued a temporary injunction Monday blocking a Monroe County ordinance that limited noise on the project between 10 p.m. and 6 a.m.
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Lowe's plans massive local call center, sources say

July 21, 2014
 IBJ Staff
Home improvement retail giant Lowe’s Companies Inc. plans to open a call center on the northwest side of Indianapolis that could employ as many as 1,000 workers, sources familiar with the deal said Monday.
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Online insurance brokerage sets sights on Indiana

July 21, 2014
J.K. Wall
Obamacare could, according to some health insurance experts, cause most small businesses to end their group health plans. Now a new venture-backed company opening up shop in Indiana is trying to make that prediction a reality.
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Airport embarking on parking garage repairs

July 21, 2014
Kathleen McLaughlin
The Indianapolis International Airport has planned nearly $8 million in garage maintenance over the next two years. It's also looking into an alternative to its atrium canopy, which has collapsed twice in three years.
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Developer seeks $11.5M subsidy for Carmel project

July 21, 2014
Andrea Muirragui Davis
Edward Rose Development Group is asking the city to issue tax-increment financing bonds to help pay for a parking garage and infrastructure in an $80 million project it's planning.
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Well-known east-side Mexican eatery closes

July 21, 2014
Scott Olson
El Sol de Tala, a staple on East Washington Street for several decades, shut its doors earlier this month amid a court dispute between the restaurant's owner and his landlord.
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NCAA sets vote on modified governance proposal

July 21, 2014
Associated Press
After years of consternation and months of debate, the Indianapolis-based NCAA says that its board of directors will vote on a formal proposal to give schools in the highest-profile conferences more influence over the college rules.
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Indiana Democrats deal with education split

July 21, 2014
Associated Press analysis
The fighting has exposed a deep rift within the party over how students are educated.
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Steel Dynamics buying Mississippi plant for $1.6B

July 21, 2014
 Bloomberg News and IBJ Staff
Fort Wayne-based Steel Dynamics said the plant it is buying from a company controlled by Russian billionaire Alexey Mordashov is one of the newest and most technologically advanced mini-mills in North America.
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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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