News & Analysis

Local hotel bookings fell in 2010, projected to rise in 2011

January 3, 2011
Anthony Schoettle
Weak economy blamed for 5-percent decline. With Indiana Convention Center expansion set to be complete this month, booking should be on the rise.
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Jackson Group acquired by Houston company

January 3, 2011
Indianapolis-based The Jackson Group had 132 employees in mid-2010, ranking it the sixth-largest woman-owned business in the area, according to IBJ research.
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Lilly, other big drugmakers shut out by FDA in 2010

January 3, 2011
 IBJ Staff and Bloomberg News
Regulators cleared 21 medicines, the fewest since 2007, for sale last year. It was the first time in a decade that Pfizer Inc., the world's largest drugmaker, as well as Lilly, Merck & Co. and Bristol-Myers Squibb Co. were shut out at the same time, according to agency records.
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Group plans ad campaign to back school choice

January 2, 2011
Associated Press
The Foundation for Educational Choice, an Indianapolis-based not-for-profit, expects to spend $400,000 to $500,000 on the advertising campaign in Indiana
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Indiana license branches no longer renewing plates

January 2, 2011
Associated Press
Starting Monday, all Indiana residents will have to order their registration cards, stickers and plates online or by mail, the Indiana Bureau of Motor Vehicles said.
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Indiana lawmakers to face more tough budget decisions

January 1, 2011
Associated Press
When lawmakers open their new session Wednesday, they won't have some of the advantages they had during the last budget-writing debate in 2009. This time around, there will be no $1 billion in federal stimulus money to keep the budget afloat.
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Indianapolis Indians profitable for 35th straight year

January 1, 2011
Anthony Schoettle
The minor-league professional baseball team continues to pull in fans and sponsors as Hoosiers seek affordable family entertainment.
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Indianapolis startup scene gains momentum

January 1, 2011
Francesca Jarosz
HackersFounders_WatchVideoAbout 200 members of the Hackers and Founders group meet monthly—perhaps the most clear and strong signal that Indianapolis’ young entrepreneur community is reaching a tipping point.
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Goodwill angles for donations during weak economy

January 1, 2011
Kathleen McLaughlin
The recovering, yet-still-weak economy puts charity retailer Goodwill in a sweet position. Consumer spending is up, so more old stuff makes its way to thrift stores. At the same time, high unemployment means the bargain hunters are still out in force.
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Indiana-based mutual funds stage comeback

January 1, 2011
Francesca Jarosz
Funds ride resurgent market after taking a beating in the financial crisis.
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Money flowing to international marketsRestricted Content

January 1, 2011
Sam Brattain
Booming growth, rising middle classes are attracting investors.
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Indy Power sees big potential in grid power storageRestricted Content

January 1, 2011
Chris O'Malley
Three-year-old Indy Power Systems’ first big sale is outside the sizzling, electric car segment. The Noblesville firm has landed a contract with Melink Corp. to supply a 50-kilowatt grid energy storage and peak-shaving system at the company’s Cincinnati headquarters.<
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Key road projects await busy INDOTRestricted Content

January 1, 2011
Chris O'Malley
The ongoing rehab of Interstate 465 will continue to be the biggest highway project in the metro area in 2011, but the rebuilding of an 11-mile segment on the west side could be all but finished by the end of the year—just when other significant highway projects will get under way in the metro area.
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Arts endowments bouncing backRestricted Content

January 1, 2011
Kathleen McLaughlin
The stock market’s recovery has lifted endowments that provide major support to local arts groups, but managers are keeping the conservative attitude they were forced to adopt two years ago.
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State's next economic initiative to revolve around militaryRestricted Content

January 1, 2011
Francesca Jarosz
Indiana economic-development officials are in the beginning stages of forming a marketing initiative—dubbed the Indiana Center for Complex Operations, or ICCO—to market the state’s budding defense sector.
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Embattled prosecutor Brizzi plans new business

December 31, 2010
 IBJ Staff and Associated Press
Marion County Prosecutor Carl Brizzi said he plans a new business in reputation management. He will also work as an attorney from offices in Hamilton County and Indianapolis.
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Governor wants revamped teacher evaluations

December 31, 2010
Associated Press
Republican Gov. Mitch Daniels and state schools superintendent Tony Bennett say Indiana needs a more honest look at the job teachers and principals are doing.
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Indiana Medicaid cuts likely to be followed by more

December 30, 2010
Associated Press
The Office of Medicaid Policy and Planning has approved a series of emergency rules that it expects to save a total of $4.1 million over the next six months, but that will make up for only a small portion of the $31.4 million shortfall the agency anticipates for the fiscal year.
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Real estate startup hopes to raise millions in stock offering

December 30, 2010
Cory Schouten
A group of local entrepreneurs has filed plans with with the SEC to raise as much as $306 million to buy real estate assets in a so-called "blind pool" stock offering.
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Broadband provider sends troubling financial signals

December 30, 2010
Chris O'Malley
Omnicity Corp. is a half-year behind in payments to a Muncie lender and faces several lawsuits over unpaid bills from companies it acquired.
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Roche acquires Marcadia Biotech

December 30, 2010
Chris O'Malley
Marcadia Biotech Inc., a Carmel-based biopharmaceutical company founded by prominent scientists from Eli Lilly and Co. in 2006, has been acquired by Swiss life sciences giant Roche.
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U.S. unemployment benefit applications drop sharply

December 30, 2010
Associated Press
Applications dropped by 34,000, to 388,000, the lowest number since the week of July 12, 2008. The level of applications has either fallen or remained unchanged in five of the past six weeks.
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Indiana to stop mailing out state income tax forms

December 29, 2010
Associated Press
The State Department of Revenue estimates the change will affect about 1 million taxpayers and save the state about $200,000 in the next fiscal year.
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Lender takes action on Renaissance Bay project

December 29, 2010
Chris O'Malley
An incomplete $150 million development that was supposed to feature 305 luxury condominiums along a 25-acre lake on the north side of Indianapolis has been placed in receivership.
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Emmis pitching in on breach-of-contract lawsuit

December 29, 2010
 IBJ Staff
Emmis Communications Corp. will contribute $200,000 toward legal fees in a lawsuit that company founder Jeff Smulyan's JS Acquisition LLC filed over its failed effort to take the Indianapolis-based media company private.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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