News & Analysis

Northstar Aerospace closing Anderson plant; 48 jobs lost

March 9, 2011
Workers will be let go in three stages beginning May 1, and the plant is expected to permanently close by June 24.
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Lilly suffers another bruise from Novo

March 9, 2011
J.K. Wall
The failure of its drug Bydureon to match the performance of Novo’s Victoza trims but doesn’t kill sales prospects for the highly touted diabetes drug.
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Health insurance costs spike worldwide

March 9, 2011
J.K. Wall
Think galloping health insurance costs are a problem unique to American employers? Think again. Medical costs paid by employer-focused health insurers rose by an average of 10 percent last year—identical to the United States.
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Q&A: Tony Lennen

March 9, 2011
J.K. Wall
Tony Lennen became president of Community Hospital South in 2009, overseeing a 50-bed expansion that was completed last summer, giving the hospital 150 private rooms. The facility, located along the line between Marion and Johnson counties, competes against nearby facilities run by Franciscan St. Francis Health, Indiana University Health and Johnson Memorial Hospital.
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Lilly confident of FDA approval for Amyvid, Lechleiter says

March 9, 2011
Bloomberg News
Eli Lilly and Co. CEO John Lechleiter said he’s confident of gaining U.S. regulatory approval for a drug to help identify plaque in the brain associated with Alzheimer’s disease.
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GOP leaders consider ways to move on without Dems

March 8, 2011
Associated Press
Frustrated Republicans say they won't be bullied into changing their agenda, and Democrats showed no signs of backing down — with one lawmaker vowing to stay in Urbana, Ill., "until hell freezes over."
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Prosecutors seek another probe involving White

March 8, 2011
Associated Press
Two special prosecutors have asked the Indiana inspector general to investigate whether indicted Secretary of State Charlie White improperly accessed a report detailing evidence of alleged voter fraud against him.
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Indy Partnership makes leadership change official

March 8, 2011
In a move IBJ reported Feb. 15, Scott Fulford, a member of the organization's business development team, has been picked to lead Indiana Partnership, the group announced Tuesday.
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Volunteers market growing retail space along East 10th

March 8, 2011
Francesca Jarosz
Six projects with more than 25,000 square feet of space will be completed this year and in 2012 along the 10th Street corridor, which runs from near Rural Street east to Sherman Drive.
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Northeast-side office building target of foreclosure

March 8, 2011
Scott Olson
Owners of the nearly 40,000-square-foot office complex near East 71st Street and Binford Boulevard have defaulted on a $3 million bank note, according to court documents.
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Renewable energy 'coordinator' eyes GM plant

March 8, 2011
Kathleen McLaughlin
D'Arcinoff Group, which calls itself a manufacturing coordinator, has its eye on the soon-to-close General Motors stamping plant west of downtown Indianapolis.
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Notre Dame to end use of hydraulic lifts to film practice

March 8, 2011
Associated Press
The University of Notre Dame will install remote-controlled cameras as part of a safety push spurred by an October accident in which a student filmmaker was killed when a lift toppled.
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Browning set to start retail project; another in works

March 8, 2011
Tom Harton
Browning Investments is close to breaking ground on a small retail strip center on West 86th Street in front of St. Vincent Hospital and is in the early stages of planning a larger retail center at 131st and Meridian streets.
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Frontier Airlines cuts second-quarter capacity plans

March 7, 2011
Associated Press
Indianapolis-based Republic Airways Holdings Inc. said Monday that it is reducing growth plans for its Frontier Airlines unit because of uncertainty about future oil prices.
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Indiana House Democrats still refusing to work

March 7, 2011
Associated Press
An Indiana House Democrat threatened Monday to continue the caucus's ongoing boycott "as long as it takes" to get changes made to Republican-backed proposals, even if their absence shuts down state government.
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IU Foundation buys Indiana Landmarks' canalside offices

March 7, 2011
Kathleen McLaughlin
The Indiana University Foundation will move its Indianapolis staff from an office on North Meridian Street.
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City launching mobile app for potholes, other problems

March 7, 2011
Francesca Jarosz
The city of Indianapolis plans to launch a free application for Apple devices such as iPhones, iPads and iPod Touches that will allow residents to report potholes, high weeds or stray dogs as they spot them.
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Indianapolis hopeful it can retain Big Ten tournaments

March 7, 2011
Scott Olson
The contract between Indianapolis and the Big Ten expires in 2012, and officials from the conference's 11 universities are beginning the process to select a future host for the men's and women's basketball tournaments.
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Three local companies make most-admired list

March 7, 2011
 IBJ Staff
Simon Property Group Inc., WellPoint Inc. and Brightpoint Inc. of Indianapolis, and Columbus-based Cummins Inc. made Fortune's annual list of 350 companies, released Monday.
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Homeless-aid group up and running in Indianapolis

March 7, 2011
Kathleen McLaughlin
A fast-growing national organization that gets homeless people involved in running is expanding to Indianapolis.
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Pay TV battle turning bitter; no agreement reached

March 7, 2011
Associated Press
A battle over fees between Dish Network and television station owner Lin TV Corp. caused 27 stations, including two in Indianapolis, to go dark for Dish subscribers Saturday.
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Transition-to-teaching students find few jobs

March 6, 2011
Associated Press
An Indiana Department of Education report shows less than 40 percent of those who completed the transition-to-teaching programs in 2008-2009 were working in Indiana schools last year.
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Democrats try to explain boycott in Web meetings, calls

March 6, 2011
Associated Press
As pressure mounts for Indiana Democrats to end their Statehouse boycott and get back to work, some members of the exiled caucus are holding town hall meetings to explain to their constituents why they are holed up in an Illinois hotel.
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Broad Ripple Village awaits garage bids

March 5, 2011
Francesca Jarosz
City leaders in February put out a request seeking ideas for how to design and finance a parking garage in Broad Ripple to ease traffic tensions. Responses are due March 11.
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Suitors circle faltering racinoRestricted Content

March 5, 2011
Francesca Jarosz
Two racetrack owners have signaled they’re interested in buying Indiana Live racetrack and casino in Shelbyville as the facility begins to sort out its massive debt.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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