News & Analysis

Judge: Durham’s home-detention restrictions to continue

July 21, 2011
Scott Olson
A federal judge denied a request from indicted financier Tim Durham to relax the rules of his home detention. The judge also appointed a public defender for his business partner, James F. Cochran.
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Lilly stock rises after drugmaker reports higher sales

July 21, 2011
Investors responded favorably Thursday to Eli Lilly and Co.’s surprisingly strong second-quarter revenue, even though its profit fell due to rapid spending on marketing and research.
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UPDATE: Medco acquisition could lead to local consolidation

July 21, 2011
 IBJ Staff and Bloomberg News
It’s not yet clear how Express Scripts Inc.’s $29.1 billion acquisition of rival Medco Health Solutions will affect the companies’ central Indiana operations—or their 800-plus employees at two facilities here.
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Pfizer won’t break up animal unit for potential Lilly bid

July 21, 2011
Bloomberg News
Pfizer Inc., the world’s biggest drugmaker, said it isn’t interested in breaking up its animal health unit after Indianapolis-based Eli Lilly and Co. expressed interest in buying some of its products.
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Borders liquidation another blow to retail real estate

July 21, 2011
Bloomberg News
Borders Group Inc.’s proposed liquidation will increase available U.S. retail space by about 6.3 million square feet as the industry struggles with near-record vacancy rates and stagnant rents.
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ITT Educational continues enrollment, profit slide

July 21, 2011
 IBJ Staff
In the second quarter, the Carmel-based operator of for-profit colleges saw enrollment drop 19.9 percent and profit sink 17.7 percent. But the company posted strong earnings per share by continuing to buy back shares.
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Lilly profit falls, but forecast rises after second quarter

July 21, 2011
J.K. Wall
Second-quarter profit fell at Eli Lilly and Co., but the Indianapolis drugmaker beat the estimates of Wall Street analysts by a penny per share and raised its full-year profit forecast by as much as 10 cents per share.
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Emmis' local radio stations get big lift from new ratings system

July 20, 2011
Anthony Schoettle
During the quarter ended May 31, ratings at Emmis Communications' four local stations greatly outpaced other stations in the market.
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Skillman gives $1M to Center Grove schools

July 20, 2011
Scott Olson
In exchange for donating $1 million to Center Grove schools so athletes don't have to pay a new participation fee, local auto dealer Ray Skillman gets to post advertising signs on several athletic facilities, scoreboards and concession stands.
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LEADING QUESTIONS: Pacers' new coach preaches overachieving

July 20, 2011
Mason King
LQ_Vogel_WatchVideoWhy base the team's identity on a scene from "Rocky"? Is he soft on discipline? What "stupid human tricks" can he perform? Frank Vogel has answers.
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PNC Financial quarterly earnings top expectations

July 20, 2011
Associated Press
PNC Financial, which has 88 Indianapolis-area branches, reported a nearly 13-percent increase in second-quarter earnings, as the regional bank set aside far less money to cover bad loans.
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Primary care gets a new approach: prevention

July 20, 2011
Associated Press
A budding model for primary care that encourages the family doctor to act as a health coach who focuses as much on preventing illness as on treating it has shown promising results and saved insurers millions of dollars.
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Birth control coverage required in U.S. health plan

July 19, 2011
Health insurers led by WellPoint Inc. would be required to cover birth control pills and devices at no cost to patients under the recommendation of a top U.S. scientific advisory board. .
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Lugar going on TV early in 2012 Senate race

July 19, 2011
Associated Press
Republican U.S. Sen. Richard Lugar is attacking President Barack Obama and showing himself with former President Ronald Reagan in his first campaign ad in what will likely be a tough re-election contest.
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Indiana AG won't appeal immigration ruling

July 19, 2011
Associated Press
Indiana Attorney General Greg Zoeller says he won't appeal a federal judge's decision to temporarily block part of a new state immigration law but will continue to fight against a ruling that would make the ban permanent.
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Former federal prosecutor plans run against Burton

July 19, 2011
Associated Press
Susan Brooks announced Tuesday she will challenge Dan Burton in the May 2012 Republican primary to represent Indiana's 5th District.
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IUPUI track stadium dodges wrecking ball

July 19, 2011
Anthony Schoettle
The Michael A. Carroll Track and Soccer Stadium, which school officials considered demolishing a few years ago, is getting a face-lift that includes a new $1.2 million infield surface.
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Irvington scores Ossip, set for streetscape project

July 19, 2011
Tom Harton
The Irvington retail trade area stands to get a big boost from two projects set to begin this fall: Ossip Optometry’s renovation of a historic building and a $2.9M makeover of East Washington Street designed to make the business district a draw for pedestrians.
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Golf course manager suing DuPont over herbicide

July 19, 2011
Scott Olson
R.N. Thompson, which operates several local courses, claims the company's Imprelis herbicide caused "catastrophic tree loss." R.N. Thompson has joined a Pennsylvania resident in filing the class-action suit.
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Navistar cutting 200 contractor jobs in Fort Wayne

July 19, 2011
Associated Press
Navistar International Corp. is laying off some 200 contract workers from its Fort Wayne operations as part of its consolidation to a new headquarters in suburban Chicago.
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Lilly: Alzheimer's patients on failed drug didn’t improve

July 19, 2011
Bloomberg News
Eli Lilly and Co. said patients with Alzheimer’s disease whose conditions worsened upon taking the experimental drug semagacestat didn’t improve after dosing was halted.
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Court gives preliminary OK to WellPoint settlement

July 18, 2011
Associated Press
A California court has granted preliminary approval to a lawsuit settlement over an online security breach of health insurer WellPoint Inc.'s records.
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Daniels signs trade deal with Chinese province

July 18, 2011
Associated Press
Daniels signed the business cooperation agreement Monday with the leader of Zhejiang Province, located on the east coast of China south of Shanghai. The document pledges to develop further business links between Indiana and Zhejiang.
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Borders turns the final page, will close all stores

July 18, 2011
 IBJ Staff and Bloomberg News
The chain of bookstores will shutter its remaining 399 locations by September, including the few left in central Indiana. Company brass blame the changing book industry, eReader revolution, and turbulent economy.
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Not-for-profits vying with WellPoint may get $3.8B in loans

July 18, 2011
Bloomberg News
Not-for-profits that compete with insurers such as WellPoint Inc. are eligible for $3.8 billion in U.S. financing under the health law, and the government expects more than a third of the loans not to be repaid.
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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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