News & Analysis

Roche acquires Marcadia Biotech

December 30, 2010
Chris O'Malley
Marcadia Biotech Inc., a Carmel-based biopharmaceutical company founded by prominent scientists from Eli Lilly and Co. in 2006, has been acquired by Swiss life sciences giant Roche.
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U.S. unemployment benefit applications drop sharply

December 30, 2010
Associated Press
Applications dropped by 34,000, to 388,000, the lowest number since the week of July 12, 2008. The level of applications has either fallen or remained unchanged in five of the past six weeks.
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Indiana to stop mailing out state income tax forms

December 29, 2010
Associated Press
The State Department of Revenue estimates the change will affect about 1 million taxpayers and save the state about $200,000 in the next fiscal year.
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Lender takes action on Renaissance Bay project

December 29, 2010
Chris O'Malley
An incomplete $150 million development that was supposed to feature 305 luxury condominiums along a 25-acre lake on the north side of Indianapolis has been placed in receivership.
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Emmis pitching in on breach-of-contract lawsuit

December 29, 2010
 IBJ Staff
Emmis Communications Corp. will contribute $200,000 toward legal fees in a lawsuit that company founder Jeff Smulyan's JS Acquisition LLC filed over its failed effort to take the Indianapolis-based media company private.
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NCAA president predicts shrinking athletics revenue

December 29, 2010
Bloomberg News
Revenue growth in college sports' top tier will be held to 3 percent next year as states slash subsidies nationwide, predicts Mark Emmert, president of the National Collegiate Athletic Association.
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Simon lands $4.6B loan to fund offer for London mall owner

December 29, 2010
Bloomberg News
Simon Property Group Inc. has secured a 3 billion pound loan that will give the company the resources to bid for London-based Capital Shopping Centres Group Plc.
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Group questions growth of pharmacy schools

December 29, 2010
J.K. Wall
Two weeks before Manchester College announced a $35 million gift to help open a pharmacy school, a national trade group suggested there are too many pharmacy schools already.
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Q&A

December 29, 2010
J.K. Wall
Bruce Frank, a former Roche Diagnostics manager, McKinsey consultant and pro basketball player, talks about changes in the medical device and life sciences industries.
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Indiana prisons chief heading to Florida

December 28, 2010
Associated Press
Florida Gov.-elect Rick Scott, who takes office on Jan. 4, on Tuesday named Indiana corrections chief Ed Buss to run Florida's massive prison system.
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Mayoral contender Kennedy to leave day job

December 28, 2010
Francesca Jarosz
Democratic mayoral candidate Melina Kennedy will leave her attorney job at law firm Baker and Daniels on Friday to begin campaigning full-time next month.
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State GOP leaders weigh banning required union dues

December 28, 2010
Associated Press
Bills filed in the Indiana House would ban workers from being required to pay union dues.
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Post office issuing Indianapolis 500 anniversary stamp

December 28, 2010
Anthony Schoettle
Ray Harroun, winner of the 1911 Indianapolis 500, will be featured on a U.S. postage stamp this year to commemorate 100 years of racing at the famed Brickyard.
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Water employee: Veolia falsified records to get bonuses

December 28, 2010
Chris O'Malley
Testimony is part of effort to deny Veolia Water $29 million contract termination fee as part of utility sale. Group claims salaried employees owed millions of dollars.
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Duke/Browning team to develop building at new Wishard

December 28, 2010
Tom Harton
The team, which plans to build an office building in the 200,000-square-foot range, beat out six other groups that submitted proposals.
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Hoosier Park parent set to emerge from bankruptcy

December 28, 2010
 IBJ Staff and Bloomberg News
Hoosier Park Racing & Casino’s parent company could emerge from bankruptcy early next year if creditors approve a reorganization plan that’s set for a court hearing in Delaware on Feb. 1.
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Many big companies are hiring, just not in the United States

December 28, 2010
Associated Press
American companies have created 1.4 million jobs overseas this year, compared with less than 1 million in the U.S.
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Baby boomers near 65 with retirements in jeopardy

December 28, 2010
Associated Press
Starting in January, more than 10,000 baby boomers a day will turn 65, but many are facing a personal finance disaster just as they're hoping to retire.
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Rolls-Royce scores $49M military contract

December 28, 2010
 IBJ Staff
Rolls-Royce Corp.’s Indianapolis operation is finishing the year out the way it started—racking up lucrative military deals.
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Santa feeling stays with shoppers after Christmas

December 27, 2010
Associated Press
People hit the stores after Christmas to buy, indulging the rediscovered retail appetite that may have made 2010's holiday shopping season the biggest ever.
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Art museum closing design-centered gift shop

December 27, 2010
Kathleen McLaughlin
The Indianapolis Museum of Art will close its design-centered gift shop next year to make way for a display about the Miller house and gardens in Columbus, Ind.
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ITT Educational OKs bonuses to keep managers in place

December 27, 2010
 IBJ Staff
Carmel-based ITT Educational Services Inc.’s management team will get special cash bonuses if they remain with the company until the end of June, ITT disclosed in a regulatory filing last week.
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State's big polluters spewed less last year

December 27, 2010
 IBJ Staff
EPA data show an 18 percent decrease in toxic emissions among big manufacturers and electric utilities, but it's unclear to what degree better practices—or the slow economy—had on declining levels.
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ICVA nearing hotel room-reservation target for 2010

December 27, 2010
Scott Olson
As of mid-December, the Indianapolis Convention & Visitors Association had hit about 93 percent of its 2010 goal of booking 650,000 room nights for future conventions. The group is stepping up its efforts to meet the demands of the new JW Marriott hotel and convention center expansion.
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Daniels, bankers may spar over deposit insurance fund

December 25, 2010
Francesca Jarosz
Elected officials—including Gov. Mitch Daniels—have started eyeing the little-known, $250 million public deposit insurance fund, or PDIF, as a potential way to plug budget gaps next year.
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