News & Analysis

Study: Pacers, Fever add $55M to local economy each year

May 10, 2010
Scott Olson
The Indiana Pacers and Indiana Fever contribute an estimated $55 million a year to the Indianapolis economy, according to a study conducted by Chicago-based hospitality consulting firm Hunden Strategic Partners.
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WellPoint, others may need relief from law's spending mandate

May 10, 2010
Bloomberg News
The health law passed by Congress in March will force insurers like WellPoint to give rebates to customers next year if the companies don't meet the medical-spending minimums.
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Bren Simon lashes out over 'wrongfully removed' medical log

May 10, 2010
Cory Schouten
Widow alleges in a new court filing that a former nurse aide for Melvin Simon stole a confidential medical log and unlawfully turned it over to attorneys representing one of Simon's children from a previous marriage.
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Simon shares surge despite failed General Growth deal

May 10, 2010
 IBJ Staff and Associated Press
Simon’s rise suggested investors believe the company will be just fine without General Growth Properties Inc., the Chicago-based rival it had been pursuing for months.
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CIB set to release results of Pacers impact study

May 10, 2010
Scott Olson
The report from a Chicago consulting firm will detail how much the Indiana Pacers contribute to the local economy, as the Capital Improvement Board negotiates with team officials over paying $15 million in annual Conseco Fieldhouse operating costs.
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Packaging manufacturer plans 22 jobs in Westfield

May 10, 2010
Carmel-based CPS Inc. is moving into an existing 64,800-square-foot building and will begin hiring in July.
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Braly, Obama spar again over WellPoint cancellation policies

May 10, 2010
J.K. Wall
CEO of Indianapolis-based health insurer wrote to Obama on Sunday to rebut the president's criticism that WellPoint seeks out breast cancer patients to cancel their policies.
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Local funeral home operator in Michigan jail

May 10, 2010
Robert Nelms will spend at least a month in jail until the sale of Memory Gardens Management Corp. is complete. He is awaiting sentencing in Michigan and faces up to three years in prison.
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Cabela's revs up expansion, but leaves Greenwood off list

May 10, 2010
 IBJ Staff
The Nebraska-based outdoor retailer plans to open new stores again after a two-year, recession-induced halt on expansion. But the company is not reviving its plan for the 96-acre plot it owns in Greenwood.
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Wishard Hospital project is life blood to contractors

May 8, 2010
Scott Olson
Replacing the existing Wishard Memorial Hospital is so critical to the well-being of the sickly construction sector that one industry official likens the project to a "lifeline."
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Stone Creek owner adding to his dining empire

May 8, 2010
Cory Schouten
Mike Cunningham has run dining spots ranging from a bar and grill to yogurt stands and is now growing a popular chain of upscale restaurants—primarily under the Stone Creek Dining Co. name—in Indiana and Ohio.
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Glick Eye Institute designed to mesh architectural styles, ophthalmology researchers

May 8, 2010
Norm Heikens
The new home for the Eugene and Marilyn Glick Eye Institute that’s rising from the ground at IUPUI must do a lot of things well.
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Study: Indiana shows long-term decrease in air toxicsRestricted Content

May 8, 2010
Chris O'Malley
IDEM says in its newly released “ToxWatch” report that the level of air toxics over the last decade has “decreased to within levels acceptable to the U.S. EPA.
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Knauf Insulation sues NatCity over $8M investment lossRestricted Content

May 8, 2010
Kathleen McLaughlin
One of Shelby County's largest employers is suing NatCity Investments Inc. to try to recover nearly $8 million in losses on auction-rate securities. Knauf Insulation filed suit in Shelby Superior Court in March, saying NatCity should repay the money in accordance with a settlement the bank reached with federal regulators in March 2009.
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Coffee sales give Christel House a boostRestricted Content

May 8, 2010
J.K. Wall
Indianapolis-based Christel House is brokering sales of in-room coffee to resorts around the country, taking a 10-percent royalty to do so. The coffee is roasted by Indianapolis-based Copper Moon Coffee Co. and packaged in red and green bags decorated with drawings by students at Christel House's schools.
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Veolia concessions worry regulatorsRestricted Content

May 8, 2010
Chris O'Malley
Testimony filed in Indianapolis Water Co.'s rate case shows the city in 2007 agreed to take on millions of dollars in costs from the private firm it hired to operate the utility, including $48 million in retiree medical plan obligations.
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Lilly hopes Elanco unit becomes a cash cow

May 8, 2010
J.K. Wall
Elanco Animal Health chief Jeff Simmons predicts that consumers will opt for food made cheaper by using Elanco's productivity-enhancing drugs over pricier organic and locally grown products. But, as a hedge, he has Elanco developing products to help organic farmers, too.
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Mass Ave project adds garage, wins approvalRestricted Content

May 8, 2010
Tom Harton
Work could begin this fall on $10 million Trail Side complex.
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Allison Transmission, supplier feuding in courtRestricted Content

May 8, 2010
Kathleen McLaughlin
A dispute between Allison and a major supplier over allegations of defective parts has grown so contentious that the supplier is threatening to halt shipments—a move Allison says could force it to shut down.
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Finish Master profit slides

May 7, 2010
 IBJ Staff
Recession aftermath continued taking a toll on sales of paint for auto repairs.
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Simon withdraws bid for General Growth

May 7, 2010
 IBJ Staff and Bloomberg News
Indianapolis-based Simon Property Group Inc. has withdrawn its offer for General Growth Properties Inc. after a bankruptcy court judge approved a sale process that gives an advantage to a group lead by rival bidder Brookfield Asset Management Inc.
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INSIDE DISH: Brugge Brasserie brews plans for expansion

May 7, 2010
Mason King
Brugge_WatchVideoThe Broad Ripple-based brewpub's owners bet its Belgian beer and vittles will go over just as well outside Indy. But first they need $1 million from an investor, in part to streamline brewing.
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General Growth still backing Brookfield despite new Simon bid

May 7, 2010
Bloomberg News
General Growth Properties Inc. rejected Simon Property Group Inc.'s "best and final" offer.
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Local economic development group changes its name

May 7, 2010
Peter Schnitzler
Indianapolis Economic Development Inc. rebrands itself as "Develop Indy" and moves from the Chase Tower's 19th floor to the 24th floor.
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State tourism cuts alter marketing methods

May 7, 2010
Scott Olson
In light of a shrinking budget, the state has dropped traditional advertising campaigns to promote tourism and is embracing social media outlets to promote Indiana's attractions.
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  1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

  2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

  3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

  4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

  5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.

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