News & Analysis

Estridge: We need cash to survive

March 17, 2011
Anthony Schoettle
Paul Estridge Jr. says potential investors have inquired about helping his homebuilding company. Without millions in capital and a line of credit, the business could close within a week.
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Fair Finance investors likely to recover little money

March 17, 2011
Scott Olson
Authorities say Fair Finance, led by indicted businessman Tim Durham, owes 5,200 investors $230 million. But they're likely to recoup just a "teeny-tiny" fraction.
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Trade agency to probe Lilly's infringement claim

March 17, 2011
Bloomberg News
Eli Lilly and Co.’s patent-infringement claim over Hospira Inc.’s generic version of the cancer treatment Gemzar will be investigated by a U.S. trade agency with the power to block imports of the copycat drug.
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Angie's List lands $53 million investment

March 17, 2011
Jeff Newman
The privately held firm, which has been raking in private investment since 2005, landed the biggest round of funding in its history from “two of the world’s largest public money managers.”
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Panel nixes transportation aid for charter schools

March 16, 2011
Associated Press
An Indiana Senate panel eliminated part of a proposal on Wednesday that would have required traditional public schools to help provide transportation to students attending charter schools.
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Indiana House walkout brings talk of recall elections

March 16, 2011
Associated Press
The Republican speaker of the Indiana House said Wednesday that the ongoing walkout by Democratic legislators has stirred up interest in one day making such actions illegal or allowing voters to remove boycotters from office.
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Officials: Fair Finance largest fraud case in state's history

March 16, 2011
Scott Olson
Indictment_WatchVideoTimothy S. Durham (pictured at far left), James F. Cochran and Rick D. Snow were all arrested on Wednesday following a grand jury indictment.
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Local home construction plummets again

March 16, 2011
 IBJ Staff and Associated Press
Home-building permits filed in the Indianapolis area fell by more than 40 percent in February compared with the same month last year. Nationally, builders broke ground last month on the fewest homes in nearly two years.
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BREAKING: Durham, two other executives indicted for fraud

March 16, 2011
 IBJ Staff
Beleaguered local businessman Tim Durham and two other executives tied to bankrupt Fair Finance Co. have been indicted on felony charges of wire fraud, securities fraud and conspiracy to commit wire fraud and securities fraud. The Securities and Exchange Commission also filed a complaint against the men in federal court.
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Another northwest-side apartment complex faces foreclosure

March 16, 2011
Lender Fannie Mae filed to foreclose on Inverness Apartment Homes, whose Vancouver-based owner allegedly owes $4 million on a note that was due in February.
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Economist: U.S. recovery ‘turning a corner’

March 16, 2011
Kathleen McLaughlin
Manufacturing growth will continue to lead an economic recovery in the United States, predicted PNC Financial Services Group senior economist Robert Dye, in town Wednesday to deliver his forecast at Meridian Hills Country Club.
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Wholesale prices jump on steep rise in food costs

March 16, 2011
Associated Press
Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the biggest rise in food prices in 36 years.
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Brightpoint invests in Latin American operations

March 16, 2011
 IBJ Staff
Locally based wireless phone distributor plans to spend more than $15 million for a stake in a Miami-based company focused on Latin America.
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Forklift accident kills worker at Indianapolis plant

March 16, 2011
Associated Press
Indianapolis fire officials say a forklift operator was killed at Royal Food Products Inc. when a floor collapsed beneath the machine at the food manufacturing plant.
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Dow Agro thinks it has a winner

March 16, 2011
J.K. Wall
The Indianapolis-based company released more details this month about its Enlist Weed Control System, which would genetically modify corn, soybeans and cotton to be resistant to one of the most common weedkillers.
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Lechleiter: After the deluge, we'll be fine

March 16, 2011
J.K. Wall
Eli Lilly and Co. CEO John Lechleiter visited Japan last week—three days before the massive earthquake—to deliver his tried-and-true message: Drug companies need to reinvent invention, governments needs to support innovation, and Lilly will be just fine after it has sustained the damage of the next three years.
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CARLSON: 'Nerdy' Daniels needs to turn laughs into votes

March 16, 2011
Margaret Carlson / Bloomberg News
When someone as staid as Indiana Gov. Mitch Daniels turns out to have a sense of humor about himself, it may be time to take him seriously.
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Estridge again seeking investors to avoid closing

March 15, 2011
Scott Olson
The Carmel-based homebuilder said Tuesday that it will shut down if outside investors or a line of credit aren't obtained soon. The company previously received a cash infusion last June from a group of subcontractors.
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Annual profit, revenue shrink for Noble Roman's

March 15, 2011
 IBJ Staff
The Indianapolis-based pizza franchisor saw declining results from its restaurants, but got a boost from its growing line of take-and-bake products.
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Indiana House speaker weighing options over boycott

March 15, 2011
Associated Press
The Republican leader of the Indiana House said his patience was wearing thin with Democratic lawmakers who have shut down the legislative process in Indiana for three weeks by walking out on their jobs.
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Subaru, Toyota curb output at Indiana plants

March 15, 2011
Associated Press
Two Japanese automakers are scaling back production at North American plants as they assess their ability to get parts from Japan after that country's devastating earthquake and tsunami.
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Rolls-Royce moving 2,500 workers downtown

March 15, 2011
Scott Olson
The British-based company will move the office workers later this year to a downtown Indianapolis office building on South Meridian Street formerly occupied by Eli Lilly and Co.
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Decade-old Heartland fraud case nearing end

March 15, 2011
Scott Olson
The receiver appointed in the case is distributing the last of $2.6 million in assets he recovered from the $29 million investors lost in the Ponzi scheme.
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CIB, Colts dispute stadium concession expenses

March 15, 2011
Scott Olson
The Indianapolis Colts and its stadium manager, the Capital Improvement Board of Marion County, are squabbling over who pays certain concession expenses. The dispute ultimately could reach arbitration, if an agreement is not reached.
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OneAmerica enjoys 24-percent surge in sales

March 15, 2011
J.K. Wall
The Indianapolis-based life insurer pulled in sales last year of $1.7 billion and boosted its overall assets 12 percent, to $24.4 billion.
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  1. A couple of issues need some clarification especially since my name was on the list. I am not sure how this information was obtained and from where. For me, the amount was incorrect to begin with and the money does not come to me personally. I am guessing that the names listed are the Principal Investigators (individual responsible for the conduct of the trail) for the different pharmaceutical trials and not the entity which receives the checks. In my case, I participate in Phase II and Phase III trials which are required for new drug development. Your article should differentiate the amount of money received for consulting, for speaking fees, and for conduct of a clinical trial for new drug development. The lumping of all of these categories may give the reader a false impression of physicians just trying to get rich. The Sunshine Law may help to differentiate these categories in the future. The public should be aware that the Clinical Trial Industry could be a real economic driver for Indiana since these revenues supports jobs and new job creation. Nationally, this account for 10-20 billion which our State is missing out on to a large degree. Yes, new drug and technology development has gotten most of the attention (e.g. CTSI, BioCrossroads, etc.) However, serious money is being left on the table by not participating in the clinical trials to get those new drugs and medical devices on the market!!!! I guess that this is not sexy enough for academia.

  2. The address given for the Goldfish Swim Club is the Ace Hardware, is it closing?

  3. Out of state management and ownership. If Kite controlled it, everything would be leased. Of course, due to the roundabout, there is limited access to the south side of 116th now also. Just have to go down to the light.

  4. Hey smudge, You're opposed to arresting people for minor crimes? Sounds great! We should only focus on murders and such, right? Let's stand around and wait until someone shoots someone before we act. Whatever we do, we should never question anyone, frisk anyone, or arrest anyone unless they are actively engaged in shooting or stabbing. Very sound!

  5. You guys are being really rude to gays in the comments. (Not all of you, I presume). You need to stop it. Gays have just as much of a right to marry as straight people do. It's not fair how you guys are denying them equal rights. They're acting more human than you'll ever be. We obviously haven't matured since the bible was last updated. Hate the sin, not the sinner. You've all committed a sin at least once in your life. You've lied, you've stolen, etc. (Those are just possibilities). We should have a planet for people that support gay rights and a planet for people that don't. Then, gay people could get married without you bigots interfering with their love life. How would you feel if straights couldn't get married? How would you feel if teenagers were afraid to come out to their parents as straight? If straight people got hate everywhere they went? If straight people were afraid to go out in public, because they feared being judged? It's never going to happen at the rate society is going. You haven't seen the side of me where I act obscene. You're glad my inner demon hasn't been released. I would, but oh no, my comment would be removed because of my very strong emotions about this subject. I love gays, and love how they show their affection for each other. I just ADORE how a state is going to give same-sex couples a marriage license, then changes their mind. (I was obviously being sarcastic there). I just LOVE how society thinks gays are an abomination to our society. You're caring about marriage between two men or two women. That's a small thing. Just grow up, and let them marry. Let them live their lives. You can't make them change their sexuality. You can't make them change their lifestyle. In my opinion, gays are more than welcome to marry. Please, grow up and realize that people should be allowed to marry, even if it's same-sex marriage. You guys are saying that "the bible said gay marriage is wrong." Well, guess what else is wrong? Read Matthew:7 and you'll find out. (I am in no way breaking that. I am saying a fact). I'm stating that gays have just as much of a right to marry as straights do. (:

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