News & Analysis

Loogootee losing 95 jobs to bedding plant closure

August 13, 2010
Perfect Fit Industries, a supplier of bedding accessories such as mattress pads, pillows and comforters, will shut down its facility in southwest Indiana by the end of the year.
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Biomet investing $26M to expand, create nearly 280 jobs

August 13, 2010
 IBJ Staff
Orthopedics giant Biomet Inc. plans to invest $26 million to grow operations in its hometown of Warsaw, adding 278 jobs by the end of 2012.
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Eli Lilly loses patent lawsuit for Strattera

August 13, 2010
 IBJ Staff and Associated Press
Eli Lilly and Co. on Thursday lowered its revenue outlook for the year after it lost a patent lawsuit over its attention deficit hyperactivity drug Strattera. The patent had been set to expire in May 2017. Lilly plans to appeal.
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Lawmaker wants Durham donations returned

August 12, 2010
 IBJ Staff and Associated Press
State Rep. Ed DeLaney of Indianapolis said Thursday that contributions of more than $800,000 by Indianapolis businessman Timothy Durham should be sent to a bankruptcy trustee for Ohio investment firm Fair Finance Co., which was forced into bankruptcy earlier this year.
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Schrenker to plead guilty to securities fraud

August 12, 2010
 IBJ Staff and Associated Press
A former money manager convicted of trying to fake his own death in a Florida plane crash last year has agreed to plead guilty to securities fraud charges in Indiana. Marcus Schrenker would face 10 years in prison.
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GM plant offer sets off union power struggle

August 12, 2010
Kathleen McLaughlin
The UAW in Detroit said Local 23 will vote Monday on Illinois-based JD Norman's proposal to buy an Indianapolis stamping plant where more than 600 work, but a local rep says workers don't want to negotiate.
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Eiteljorg to launch new attractions, strategy

August 12, 2010
Kathleen McLaughlin
The Eiteljorg Museum of American Indians and Western Art is trying to raise $4.5 million to fund a new strategy aimed at boosting attendance.
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Edward Jones eyeing Indianapolis expansion

August 12, 2010
The St. Louis-based financial services firm plans to add 62 branches within the next five years here to complement the existing 90 locations it already has in the city and surrounding counties.
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Fish sculpture poached from iconic IU fountain

August 12, 2010
Associated Press
A bronze fish that is part of the Bloomington campus's Showalter Fountain is missing just a year after it was replaced following an absence of more than 20 years.
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New jobless claims hit highest level in six months

August 12, 2010
Associated Press
Initial claims for unemployment benefits have now risen in three of the last four weeks and are close to their high point for the year of 490,000, reached in late January.
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Thousands beat it to Indianapolis for Drum Corps competition

August 12, 2010
Kathleen McLaughlin
About 30,000 people are expected to attend the Drum Corps International World Championships over the next three days at Lucas Oil Stadium in Indianapolis.
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Simon mall deal gives big boost to cell-phone coupons

August 11, 2010
Associated Press
The partnership between Simon Property Group and technology company Shopkick Inc. is a big step in realizing retailers' long-held dream of using cell phones to beam ads and coupons to people passing by.
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Centaur ready to sell Pennsylvania racetrack-casino project

August 11, 2010
Associated Press
Indianapolis-based Centaur LLC said Wednesday it is asking a federal bankruptcy judge to approve bidding procedures to transfer ownership of Valley View Downs.
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AIG sells American General unit to Fortress at loss

August 11, 2010
Bloomberg News
American International Group Inc. has agreed to sell a majority stake in its Evansville-based consumer lending unit, getting rid of an operation that posted about $1.7 billion in operating losses since 2008 and accumulated more than $17 billion in debt.
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FinishMaster reports lower sales, profit

August 11, 2010
The Indianapolis-based distributor of automotive paints and accessories reported that its second-quarter profit dipped nearly 2 percent, to $3.7 million, from the same period a year earlier.
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LEADING QUESTIONS: Gleaners chief gets wake-up call

August 11, 2010
Mason King
Altmeyer
                           watch videoCEO Pamela Altmeyer reevaluated her priorities and decided to step down after a family tragedy and the agency's latest capital campaign.
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Parking rates could double under city plan

August 11, 2010
Scott Olson
City leaders expect to select a manager to oversee parking operations within the next week.
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Cincinnati Bell chooses Carmel for subsidiary's headquarters

August 11, 2010
Scott Olson
Evolve, which offers bundled voice and data services to commercial customers, will start with 100 employees in Carmel and plans to add more.
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Auto parts plant leaving Ohio for Indiana, may employ 350

August 11, 2010
Associated Press
Continental Structural Plastics expects to spend at least $9.1 million on upgrades to the Huntington factory and perhaps have 350 workers working there by 2012.
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Area home sales slide again

August 11, 2010
July's 27-percent decline marked the third straight month that home sales have slumped in central Indiana following three straight months of improving sales spurred by generous federal tax credits.
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Roche hit with new breed of patent suit

August 11, 2010
J.K. Wall
Roche Diagnostics, a Swiss company that keeps its U.S. headquarters in Indianapolis, has been sued for marking its Accu-Chek blood glucose monitors and accessories with patents that are expired. Illinois resident David O’Neill has sued on behalf of the U.S. government to recover damages of $500 per infraction.
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For Lilly, it's a big one that got away

August 11, 2010
J.K. Wall
An experimental medicine for hepatitis C that Lilly helped identify and develop is now on the cusp of market approval, with analysts predicting as much as $2 billion in annual U.S. sales.
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Noble Roman's quarterly profit, revenue slips

August 11, 2010
 IBJ Staff
Noble Roman’s Inc. profit and revenue slipped in the second quarter as fewer of its traditional Noble’s Pizza and Tuscano’s Italian Style Subs stores were operating.
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Judge refuses to unseal Fair Finance search warrants

August 10, 2010
Greg Andrews
Judge Sara Lioi ruled the right of access to search warrant records connected with an ongoing investigation is “not absolute” and not justified in this case.
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Judge to order mediation in Simon estate dispute

August 10, 2010
Cory Schouten
Hamilton County Judge William J. Hughes said it's clear that all the parties involved in a series of disputes surrounding late mall billionaire Melvin Simon's estate need to "sit across the table from each other and try to work things out."
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  1. This is still my favorite Mexican restaurant in town. What I do love about the new version is it is much quieter than the most recent version. TV's were off, the music wasn't too loud, and the wait staff were not hyperactive like they had been the past few times I had been there. I just wish they would bring back the MOLE for the enchiladas!

  2. Not a bad paper. There is a need for local community news and city government issues. Don't really need the owner's constant national political rants. We all know where they stand by now.

  3. What nice people. Menard should've known better than to team up with the guy who robbed and drove Conseco to ashes. I'm surprised Timothy Durham isn't involved in this.

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  5. It is beyond me how anyone can think this was a "bad deal" for the state! If they could take the money back then, yes, but they can't! Protections were built in the agreement. Now, if they roll the roads up and take them away, I will agree that it was a bad deal. Otherwise, the only way to have paid for the infrastructure that was badly needed was for the state to issue bonds....that is a four letter synonym for debt folks!!

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