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News & Analysis
U.S. jobless rate reaches 9.8 percent in September
October 2, 2009
Associated PressThe unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected.
The report is evidence that the worst recession since the 1930s is still inflicting widespread pain.
MoreHurco president Fabris to resign
October 1, 2009
IBJ Staff and Associated PressIndianapolis-based Hurco Companies Inc., a computer control and software maker, said Thursday that James D. Fabris will resign
as president and chief operating officer as of Oct. 31.
MoreCity becomes hub of 'cryo-cooling' for truck trailers
October 1, 2009
Chris O'MalleyIndianapolis is the new operating headquarters of a Ukrainian-American venture producing refrigeration units for semi trailers.
The move comes with the naming this spring of Thomas Roller as president and CEO of Ukram Industries. Roller is known locally
as former CEO of Indianapolis-based Norwood Promotional Products and of Fruehauf Trailer, which was based here in the 1990s.
MoreState charges Stifel Nicolaus didn't disclose risks of auction-rate securities
October 1, 2009
IBJ StaffAn administrative complaint filed today by the Indiana Secretary of State's Office alleges Stifel Nicolaus failed to disclose
risks associated with the sale of auction-rate securities to 141 Hoosiers who invested $54.9 million.
MoreIUPUI researchers land $22M in stimulus grants
October 1, 2009
J.K. WallResearchers at IUPUI have been awarded more than $22.3 million in grants by the National Institutes of Health, according to
U.S. Rep. Andre Carson. The money is part of a $5 billion program that was part of the federal stimulus bill approved earlier
this year, and will fund medical research across the country.
MoreIrsay joins ranks of nation's wealthiest
October 1, 2009
IBJ StaffIndianapolis Colts owner Jim Irsay has joined the ranks of the richest Americans, earning a spot on this year’s Forbes
400 list of the nation’s wealthiest people.
MoreWhirlpool agrees to maintain Evansville operations
September 30, 2009
Whirlpool Corp. has notified state officials that it will continue to operate its refrigeration product development center
in Evansville that employs nearly 300 people.
MoreCharter Homes owner gets 2-plus years for mortgage fraud
September 30, 2009
Cory SchoutenCharter Homes owner Jerry J. Jaquess has been sentenced to two-and-a-half years in prison and ordered to pay restitution of
$825,000 for his role in a $20 million mortgage fraud scheme.
MoreWaterworks proposes 35-percent rate hike
September 30, 2009
Chris O'MalleyThe Indianapolis Department of Waterworks today unveiled a capital-improvements proposal that would raise water rates for
the average residential customer by 35 percent, or $8 a month.
MoreLondon hedge fund sues Brightpoint over failed acquisition
September 30, 2009
Peter SchnitzlerA London-based hedge fund has sued Brightpoint Inc. over a $10 million loan it alleges the Indianapolis-based cell phone distributor
fraudulently brokered in anticipation of an acquisition in France that never materialized.
MoreDow Agro to become Purdue research tenant
September 30, 2009
Officials of Purdue University and Dow AgroSciences unveiled a collaboration Wednesday in which the Indianapolis-based company
will become one of the largest tenants at the Purdue Research Park in West Lafayette.
MorePurdue student-inventor nabs VC on TV show
September 30, 2009
IBJ StaffA Purdue University student who invented a soy-based modeling dough walked away with a $300,000 investment after appearing
Tuesday on the ABC show "Shark Tank."
MoreIndiana hospitals settle Medicare lawsuit
September 30, 2009
IBJ StaffSix hospital systems, including three in Indiana, have agreed to pay the federal government $8.3 million to settle a whistleblower
lawsuit alleging the hospitals deliberately overcharged Medicare for routine back surgeries.
MoreIndiana mine operations to close, costing 80 jobs
September 29, 2009
IBJ StaffPeabody Indiana Services LLC notified the Indiana Department of Workforce Development on Monday that it will close its surface
mine operations at Francisco in southwestern Indiana, putting about 80 employees out of work.
MoreToll road operator among water-utility suitors
September 29, 2009
Chris O'MalleyAmong 23 firms that have expressed interest in operating Indianapolis’ water and sewer systems is Macquarie, the Australian
firm that operates the Indiana Toll Road under a 75-year, $3.8 billion lease. In July, the city asked companies to express
interest in operating the systems.
MoreSpurned Sponsel creates own CPA firm
September 29, 2009
Scott OlsonA longtime partner of Indianapolis-based Greenwalt Sponsel & Co. Inc. has left the accounting firm and started his own after
he said it became apparent he would not become managing partner.
MoreGeorges put north-side estate up for sale
September 28, 2009
IBJ StaffTony George and his wife, Laura, have put up for sale their 12-acre, wooded estate at 8030 Spring Mill Road on the north side
of Indianapolis.
MoreCarmel officials confirm Feinstein appointment
September 28, 2009
Kathleen McLaughlinSinger Michael Feinstein will make as much as $400,000 in a single year to serve as artistic director of the Regional Performing
Arts Center that’s still under construction in Carmel, officials confirmed this morning.
MoreHat World acquires Minnesota sporting goods dealer
September 28, 2009
Indianapolis-based Hat World Inc. said Monday that its Impact Sports division has acquired Great Plains Sports in St. Paul,
Minn.
MoreEmmis executive high on company's outlook, despite NASDAQ threat
September 28, 2009
Scott OlsonAn executive of Emmis Communications Corp. is optimistic the company's performance will improve enough to boost its stock
price above $1, eliminating the threat of being delisted by NASDAQ.
MoreLocal Better Business Bureau names new leader
September 28, 2009
William J. Thomas has been named president of the Better Business Bureau of Central Indiana, the organization announced Monday.
MoreRenewable-energy firm eyeing Tipton County plant
September 28, 2009
A renewable-energy firm is considering manufacturing solar panels in an empty Tipton County plant where transmissions were
to be built for Chrysler automobiles, according to the Kokomo Tribune.
MoreCarmel company plans to expand, add employees
September 28, 2009
Dealer Services Corp. announced Monday morning that it plans to create up to 60 jobs by the end of 2012 and invest $6.4 million
in its Carmel headquarters.
MoreWidow likely biggest beneficiary of Simon's estate
September 26, 2009
Peter SchnitzlerBren Simon likely will inherit at least one-third of her billionaire husband’s fortune and potentially much more,
wealth managers speculate, based on the legal and tax issues involved in such a large estate.
MoreBartering booms during recession
September 26, 2009
Peter SchnitzlerIn a recession, cash is a commodity few small businesses can spare. That’s why more businesses are trading goods and
services without exchanging cash.
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Doug Henning!
These guy were thugs — they grew up in freaking Haughville! Smh, sigh. If the mayor needs/wants "quality" Black Hoosiers who are NOT corrupt, give me a call — I know plenty. Land bank info here - http://www.kubepharm.com/indylandbank/IndyLandBank.html
Magician and illusionist!
The basic idea of nice apartments with parking and retail is a good one, but this design seems overwhelmingly big/tall for Broad Ripple. The size could be disguised a bit with lots of big trees/landscaping, but the complex is too massive to blend in easily. That section of canal between College and Westfield will also need to be upgraded on both sides. Nice apartments facing onto a nice promenade with shade trees/plantings could bring together the canal towpath/Monon recreation, the outdoor seating at existing restaurants, and this project into something that upgrades the whole area. A plan for the whole stretch makes more sense than facing nice new housing onto what looks like a ditch. Is there a plan? Does the public have input? Who pays? The apartment idea seems to be reasonable, but Whole Foods is not a good idea for appropriate retail. Besides the store being physically too big, there are already Fresh Market at 54xCollege and Whole Foods in Nora for fancy groceries. Good Earth and Kroger are within walking distance of the Shell site. There are at least 7 grocery stores within a safe bike ride. Whole Foods would add nothing but traffic congestion. This design is on the right track, but there needs to be more work done to ensure that it blends in with and enhances the existing community. A project that large will set a tone for that whole part of town. It could be a real asset, but only if done right.
I did not move to Zionsville to live in Carmel. This and the subsequent developments to follow will ensure a vanilla uniformity of strip malls and apartment buildings as we seek to bring our town down to the least common denominator. We were warned before recent elections that pro-development council members would make sure their friends (landowners and developers) would be able to make their millions off of the exploitation of Zionsville. Why in God's name would we sell out the best preserved small town in the State of Indiana?