News & Analysis

Grissom air base to get $7.4 million control tower

March 20, 2011
Associated Press
An Indiana air base that houses the nation's largest fleet of KC135 four-engine tankers will get a high-tech air traffic control tower next year that supporters say will better serve its growing military, civilian and commercial aviation needs.
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Group begins work to save historic Wigwam gym

March 20, 2011
Associated Press
The Anderson School Board voted 6-1 this month to shutter the 9,000-seat Wigwam gym complex at the end of current school year as part of a wider budget-cutting plan that includes cutting 65 teachers' jobs.
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WellPoint CEO received 3-percent raise last year

March 19, 2011
Associated Press
The Indianapolis-based insurer awarded Angela Braly a total pay package worth $13.4 million, up from $13.1 million in 2009 even as the company's profit and enrollment numbers slipped.
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School district eyes events, students for revenue

March 19, 2011
Associated Press
Franklin Community Schools officials say they don't want to be in the same situation they were last year, when the state forced the district to eliminate $3 million from its budget.
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Fountain Square staple Peppy Grill thrives on independenceRestricted Content

March 19, 2011
Marc D. Allan
The sign behind the counter at the we-never-close greasy spoon sums up its distinct personality: “Cows may come and cows may go, but the bull in this place goes on forever.”
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Design flaws, defects stack up at 2-year-old airport terminalRestricted Content

March 19, 2011
Chris O'Malley
Since opening in late 2008, the midfield terminal and related structures at Indianapolis International Airport have required more than $2.5 million in fixes—not counting last month’s collapse of a canopy above the parking garage.
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Hospital systems adopt Starbucks-style service

March 19, 2011
J.K. Wall
Indiana University Health is the latest system to drill employees ranging from clerks to physicians in how to treat patients.
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Retail/office building planned for site at Fort BenRestricted Content

March 19, 2011
Tom Harton
Speculative development is almost unheard of these days, but the Fort Harrison Reuse Authority is taking the plunge.
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Plastics specialist Genesis plays to eco-conscious marketRestricted Content

March 19, 2011
Fortville manufacturer plans $3.3 million expansion
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Practical IT firm Formstack a quiet success

March 19, 2011
Chris O'Malley
Formstack, the Indianapolis-based drag-and-drop form builder software firm, isn’t flashy like its California social-media-site sister Formspring, but it’s intensely practical for organizations needing contact forms, order forms and other online business tools.
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Home builder Estridge promises to finish homes, fight onRestricted Content

March 19, 2011
Anthony Schoettle
Paul Estridge Jr. says he’s in talks with three investors who are interested in keeping his company in business.
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Foundation defends risky, stock-heavy strategy

March 19, 2011
Kathleen McLaughlin
The Health Foundation of Greater Indianapolis is an aggressive supporter of charities that serve people with HIV and AIDS, but that aggression—in the form of a risky investment strategy and big payouts—almost led to its demise.
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Convictions likely in federal Fair Finance case

March 19, 2011
Scott Olson
Defense attorneys representing indicted businessman Tim Durham and two other executives tied to bankrupt Fair Finance Co. could have a hard time convincing a jury to find them innocent. Federal prosecutors won 94.1 percent of their cases in 2009.
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Fear of GOP dominance fuels Indiana Dems' boycott

March 18, 2011
Associated Press
Indiana House Democrats, whose walkout nearly a month ago halted the legislative process, remain in no hurry to return considering they face the prospect of losing on almost every vote.
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Wabash National adding 200 jobs at Indiana plant

March 18, 2011
Associated Press
Trailer manufacturer Wabash National Corp. is adding 200 new jobs at its north-central Indiana plant to support a new contract to build bulk storage fluid tankers for another Indiana company.
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City to close Fountain Square charter school

March 18, 2011
J.K. Wall
The decision to close Fountain Square Academy, announced Friday morning at a press conference, marks the first time Mayor Greg Ballard has chosen to shut down a charter school.
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Northeast-side office building falls into foreclosure

March 18, 2011
The 83,653-square-foot office building at 6666 E. 75th St. near Binford Boulevard and Interstate 465, is known as Heritage Park II. It is only 55-percent occupied.
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INSIDE DISH: Cafe bolsters base of Turkish food fans

March 18, 2011
Mason King
Bosphorus Watch VideoAscending from server to owner of Bosphorus Istanbul Cafe, Orhan Demirtas has leveraged a relationship with Eli Lilly and Co. to diversify revenue, and solidified his base by opening a new breakfast cafe and hookah bar.
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Regulators delay approval of Lilly's Alzheimer’s screen

March 18, 2011
Bloomberg News
The Food and Drug Administration said Lilly needs to create a training program to ensure brain scans are interpreted properly.
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Westfield businessman jailed for tax evasion

March 18, 2011
 IBJ Staff
U.S. Attorney Joseph Hogsett said Joseph Hinshaw, 57, under-reported his income from 2003 to 2007 to avoid taxes and to obtain federal and state student loans.
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Borders closing another local bookstore

March 18, 2011
 IBJ Staff
The Ann Arbor, Mich.-based bookstore chain, which filed for Chapter 11 bankruptcy reorganization last month, announced yesterday it would close the Border’s store in the Shops at River Crossing near the Fashion Mall.
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Shoe Carnival reports record annual profit

March 18, 2011
The Evansville-based shoe and apparel retailer said it earned $26.8 million in its last fiscal year. The company also reported record same-store sales.
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Butler still getting big bounce from 2010 NCAA run

March 17, 2011
Anthony Schoettle
The number of applications to Butler University is up 41 percent—to a total of 9,357—compared with applications received by the same time last year, according to school officials. Requests for information and campus visits by prospective students are both up 35 percent for the year.
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Estridge: We need cash to survive

March 17, 2011
Anthony Schoettle
Paul Estridge Jr. says potential investors have inquired about helping his homebuilding company. Without millions in capital and a line of credit, the business could close within a week.
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Fair Finance investors likely to recover little money

March 17, 2011
Scott Olson
Authorities say Fair Finance, led by indicted businessman Tim Durham, owes 5,200 investors $230 million. But they're likely to recoup just a "teeny-tiny" fraction.
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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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