News & Analysis

Doctors breathe a sigh of relief

June 30, 2010
J.K. Wall
As doctors threaten to drop Medicare patients, Congress delays cuts for another six months.
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FedEx wins dismissal of some claims in drivers' suit

June 29, 2010
Bloomberg News
FedEx Corp. won partial dismissal of a class-action lawsuit brought by contract drivers who contend they are entitled to full benefits because the company treats them as employees.
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Indianapolis office vacancy rates still rising

June 29, 2010
Scott Olson
Vacancy rates in the downtown and Keystone at the Crossing markets climbed in the past six months, according to Meridian Real Estate's latest report, but the market shows signs of stabilizing.
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Raytheon lands $250 million Navy electronics contract

June 29, 2010
J.K. Wall
Workers at Raytheon Technical Services' Indianapolis facility will spend four more years working on software to control electronics on the Navy's V-22 Osprey aircraft.
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Agency settles stadium water damage claim for $6.2M

June 29, 2010
Flooding from a drainpipe malfunction caused extensive damage to Lucas Oil Stadium's data center prior to its opening in August 2008.
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$69M U.S. Courthouse modernization a boon for local firms

June 29, 2010
Cory Schouten
More than a dozen local companies have begun work on a three-year modernization of the Birch Bayh Federal Building and U.S. Courthouse in the state's largest individual project funded by the federal stimulus.
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Allison dedicates $130 million hybrid plant

June 28, 2010
Kathleen McLaughlin
Allison Transmission Inc. said Monday that it has begun renovating a vacant manufacturing space to work on hybrid systems for commercial vehicles.
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Marcadia enlists Lilly to help develop new diabetes drug

June 28, 2010
J.K. Wall
The two companies will jointly develop a short-acting glucagon drug, which they hope proves more convenient than Lilly’s current Glucagon for patients with severe hypoglycemia.
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Group tries to turn Sunday booze ban into July 4 fireworks

June 28, 2010
J.K. Wall
An alliance of drugstores, groceries and gas stations is using the July Fourth holiday—which falls this year on Sunday—to drum up more support for ending Indiana’s ban on Sunday retail sales of alcohol.
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Impact Racing wins latest court battle over safety labels

June 28, 2010
Ruling prevents industry-certification group from breaking contract with Brownsburg-based company founded by Bill Simpson.
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Trustee asks for Hansen & Horn bankruptcy to be dismissed

June 28, 2010
Scott Olson
Beleaguered home builder doesn't appear to have funds available to pay an attorney to prepare necessary paperwork for Chapter 7 liquidation, trustee says in court filing.
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Mind Trust fills leadership positions

June 28, 2010
The Indianapolis-based not-for-profit has a new president and a vice president of strategic growth initiatives.
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Cummins looks to boost India sales by 40 percent

June 28, 2010
Bloomberg News
Cummins Inc., the Columbus-based maker of diesel truck engines and generators, expects to boost India sales about 40 percent this year as economic growth spurs road traffic and demand for electricity.
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IBJ wins national journalism awards

June 28, 2010
 IBJ Staff
IBJ won eight awards at the Alliance of Area Business Publications’ summer conference Saturday in Indianapolis.
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Plug-in car startup breaks all the rules

June 26, 2010
Chris O'Malley
Wabash-based ClearFlex Automotive is using off-the-shelf technology to design a 2010 Ford Focus plug-in electric vehicle, powered entirely by lead acid batteries. The company is gearing up for initial production of up to three vehicles a day.
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Electric rates likely to rise with cost of Duke coal plantRestricted Content

June 26, 2010
Chris O'Malley
Pressure is building on Duke Energy to contain costs of its controversial Edwardsport generating plant in southwestern Indiana, following the company’s recent disclosure that the price tag will soar by $530 million—likely boosting average customer rates in Indiana by 3 percent.
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Subcontractors come to Estridge's aid with $10M investment

June 26, 2010
Scott Olson
Estridge Cos.' subcontractors have invested $10 million into the firm led by COO Matt Cohoat and CEO Paul Estridge Jr.—an infusion that paves the way for them to proceed with a massive development in Westfield.
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LOU'S VIEWS: 100 thoughts on 100 Acres

June 26, 2010
Lou Harry
Watch video icon for 100 Acres100 Acres, a new art and nature park, opened behind the Indianapolis Museum of Art June 19. This major addition to the city’s cultural and social landscape seemed worthy of at least 100 thoughts—and two videos.
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City eyes Central State site for sports complexRestricted Content

June 26, 2010
Anthony Schoettle
Indianapolis officials are exploring turning the former Central State Hospital into a 150-acre sports complex that could include facilities for everything from soccer and baseball to tennis and ice skating.
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Buckingham thinks big with plans for downtown development

June 26, 2010
Cory Schouten
Will the latest ambitious downtown development proposal finally master the formula for transforming a downtown surface parking lot?
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Hoosier firms that rely on innovation pine for patent reform

June 26, 2010
J.K. Wall
One key change would grant patents to the first inventor to file an application, not the first who can prove to have made the invention first.
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BP disaster casts shadow over Hoosier enterprisesRestricted Content

June 26, 2010
Kathleen McLaughlin
BP franchisee Ricker Oil and Conner Prairie, whose balloon ride is emblazoned with the company logo, find themselves awkwardly linked to the disastrous Gulf oil spill. illainous image.
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IMA searching for executive to lead big capital campaign

June 26, 2010
Kathleen McLaughlin
The Indianapolis Museum of Art is gearing up for a major campaign and will create a senior management position in fundraising. CEO Maxwell Anderson said the national search for a “chief development officer” coincides with strategic planning that will result in a capital campaign for a still-unspecified amount.
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Potterhill Homes enters Indianapolis marketRestricted Content

June 26, 2010
Scott Olson
A Cincinnati-based homebuilder’s expansion into Indianapolis marks the second time in six months a builder from the Queen City has carved out space in the metropolitan area.
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RUBENSTEIN: New law may put limits on residential seller financingRestricted Content

June 26, 2010
Clifford Rubenstein
A new federal law intended to enhance consumer protection and reduce fraud in the residential loan market may put the kibosh on seller financing of residential properties. This has huge implications for owners of rental housing.
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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. 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.

  4. If you only knew....

  5. 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.

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