News & Analysis

Business bank reports first-quarter loss

May 25, 2010
Indiana Business Bancorp lost $519,043 in the first quarter compared with a profit of $32,252 during the same period a year ago.
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Lawrence Village inks J.C. Hart deal, seeks retail developer

May 25, 2010
Tom Harton
The Fort Harrison Reuse Authority has approved the sale of a 6.6-acre site to Carmel-based J.C. Hart Co. for development of a 217-unit apartment community.
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Northstar Aerospace closing Anderson plant

May 25, 2010
 IBJ Staff
The Anderson plant, which opened in 2006 and makes aircraft parts, has about 40 employees.
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NFL must face antitrust suits, U.S. high court rules

May 24, 2010
 IBJ Staff and Bloomberg News
The lawsuit involved the National Football League's agreement with Adidas AG's Reebok, which employs 950 people at a manufacturing plant on the east side of Indianapolis.
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Simon plans to rejoin retail leasing event

May 24, 2010
Cory Schouten
Simon Property Group Inc. plans to rejoin the giant leasing mall at the annual ICSC convention in Las Vegas, where 25 percent of the nation's retail lease deals are consummated.
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City hosting U.S.-China vehicle summit

May 24, 2010
Event will bring together a delegation of Chinese automakers and Indiana manufacturers to explore business opportunities relating to hybrid and electric vehicles.
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Fieldhouse feud results in tax refund for theater owner

May 24, 2010
Scott Olson
Hollywood Bar and Filmworks owner Ted Bulthaup said higher parking rates following Conseco Fieldhouse's opening drove his patrons away. The IRS agreed.
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Girl Scouts to sell Boone County camp, three others

May 24, 2010
Associated Press
The Girl Scouts of Central Indiana says a study found that the four sites need significant renovations to reach current safety codes.
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Sports talk host JMV lands at Emmis station

May 24, 2010
Kathleen McLaughlin
JMV's new show, "The Ride," will run weekdays from 3 p.m. to 7 p.m starting Monday.
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Feds: AMC must sell some Indy theaters to make acquisition

May 24, 2010
Bloomberg News
The U.S. Justice Department said AMC Entertainment Group Inc., the second-largest U.S. movie theater owner, must sell some cinemas to proceed with plans to buy most of those operated by Kerasotes Showplace Theatres.
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Ivy Tech set to break ground on new downtown building

May 24, 2010
 IBJ Staff and Associated Press
Ivy Tech Community College is set to start new construction at a former hospital site next to its downtown Indianapolis campus.
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Indiana 4 to 6 weeks behind its weatherization goal

May 23, 2010
Associated Press
The delay is pushing back the release of the second half of the $132 million in stimulus funds the state got for energy-saving retrofits to homes of thousands of low-income residents.
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Sweeping new rules await Indy 500, insiders predict

May 22, 2010
Anthony Schoettle
An overhaul of the Indianapolis 500 and Indy Racing League, possibly as soon as 2012, could take the legendary race back to its roots as a bellwether of automotive innovation. Engine and chassis rules for the 500 might be greatly loosened, encouraging the kind of technological innovation that made the race famous.
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Soft Landing: Pay slipped for most execs in 2009, but cuts weren't deep

May 22, 2010
Peter Schnitzler
Top executives at Indiana's public companies have largely been insulated from the economic crash. IBJ's review of executive pay found that, although 131 of the 238 executives listed in proxy statements the past two years saw annual compensation fall in 2009, only 10 experienced cuts of more than $1 million.
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New collateral rules for Indiana deposits may favor big banks

May 22, 2010
Peter Schnitzler
New state rules designed to protect government cash from bank failures might have an unintended consequence: helping the biggest banks and hurting the smallest.
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New Indiana law aims to promote safety of traditional loansRestricted Content

May 22, 2010
Scott Olson
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's housing market rebound from a foreclosure crisis instigated by risky loans.
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Optiform customizes software to improve capture and management of dataRestricted Content

May 22, 2010
Chris O'Malley
The 12-person firm led by CEO Scott McLaughlin recently “graduated” from five years at the Indiana University Emerging Technologies Center and finished a profitable year.
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Upcoming ICSC convention will offer insight into growth plans for retailersRestricted Content

May 22, 2010
Cory Schouten
Retailers are feeling pangs of optimism at an opportune time for the developers and real estate brokers who rely on them for survival: The year’s biggest retail real estate gathering is May 23-25 in Las Vegas.
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Arts Council hopes move, emphasis on donors will help with financesRestricted Content

May 22, 2010
Kathleen McLaughlin
The Arts Council of Indianapolis soon will move its office from Monument Circle to a smaller space on Pennsylvania Street with an adjacent gallery. The move is symbolic of the council’s ongoing reinvention, as well as the financial reality driving that effort.
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Habitat foreclosures on riseRestricted Content

May 22, 2010
Kathleen McLaughlin
So far this year, Habitat for Humanity of Greater Indianapolis has filed six foreclosure suits, more than in any of the past five years. The organization also repossessed four houses as a result of the prior year's foreclosures. In a typical year, CEO Dean Illingworth said, Indy Habitat takes back one or two houses, so the recent uptick is troubling.
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Indianapolis airport traffic jumped in April

May 21, 2010
Chris O'Malley
Indianapolis International Airport sees first rise in passenger traffic in almost three years.
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INSIDE DISH: Ambrosia's Pizzi hits learning curve

May 21, 2010
Mason King
Ambrosia_WatchVideoLocal restaurateur Gino Pizzi refocuses his new downtown locale after unexpected challenges, including higher costs and lackluster lunch business.
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State unemployment rate climbs back to 10 percent

May 21, 2010
Indiana unemployment figure hits double digits in April for the first time since September, showing how volatile the job market remains.
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State opens 2nd biz-development office in China

May 21, 2010
 IBJ Staff
Zhejiang Province office will be Indiana Economic Development Corp.'s seventh international location.
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Eli Lilly invests in $250M Australian venture fund

May 20, 2010
 IBJ Staff and Bloomberg News
The unnamed venture fund will be based in Brisbane, and will focus on biotechnology investments in Australia and southeastern Asia.
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  1. Looking at the two companies - in spite of their relative size to one another -- Ricker's image is (by all accounts) pretty solid and reputable. Their locations are clean, employees are friendly and the products they offer are reasonably priced. By contrast, BP locations are all over the place and their reputation is poor, especially when you consider this is the same "company" whose disastrous oil spill and their response was nothing short of irresponsible should tell you a lot. The fact you also have people who are experienced in franchising saying their system/strategy is flawed is a good indication that another "spill" has occurred and it's the AM-PM/Ricker's customers/company that are having to deal with it.

  2. Daniel Lilly - Glad to hear about your points and miles. Enjoy Wisconsin and Illinois. You don't care one whit about financial discipline, which is why you will blast the "GOP". Classic liberalism.

  3. Isn't the real reason the terrain? The planners under-estimated the undulating terrain, sink holes, karst features, etc. This portion of the route was flawed from the beginning.

  4. You thought no Indy was bad, how's no fans working out for you? THe IRl No direct competition and still no fans. Hey George Family, spend another billion dollars, that will fix it.

  5. I live downtown Indy and had to be in downtown Chicago for a meeting. In other words, I am the target demographic for this train. It leaves at 6:00-- early but doable. Then I saw it takes 5+ hours. No way. I drove. I'm sure I paid 3 to 5 times as much once you factor in gas, parking, and tolls, but it was reimbursed so not a factor for me. Any business traveler is going to take the option that gets there quickly and reliably... and leisure travelers are going to take the option that has a good schedule and promotional prices (i.e., Megabus). Indy to Chicago is the right distance (too short to fly but takes several hours to drive) that this train could be extremely successful even without subsidies, if they could figure out how to have several frequencies (at least 3x/day) and make the trip in a reasonable amount of time. For those who have never lived on the east coast-- Amtrak is the #1 choice for NY-DC and NY-Boston. They have the Acela service, it runs almost every hour, and it takes you from downtown to downtown. It beats driving and flying hands down. It is too bad that we cannot build something like this in the midwest, at least to connect the bigger cities.

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