News & Analysis

New estimate drops health plan's cost to Indiana

October 26, 2010
Associated Press
A new estimate has lowered the expected cost of the federal health care overhaul to Indiana's state government to perhaps $2.6 billion over the next decade.
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Cummins expanding in Columbus, plans 350 jobs

October 26, 2010
 IBJ Staff
Cummins Inc. announced Tuesday that it will expand its headquarters in Columbus, adding at least 350 professional employees during the next 18 months to support global operations.
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UPDATE: New product, services drive ExactTarget growth plans

October 26, 2010
Kathleen McLaughlin
A new product roll-out and increasing demand for client services will drive ExactTarget's growth over the next five years, CEO Scott Dorsey said Tuesday after his firm announced that it would invest $45M and add 500 employees through 2015.
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Rushville broadband firm sued by companies it acquired

October 26, 2010
Scott Olson
Omnicity Corp. is named in three lawsuits brought by owners of companies the firm bought who say they've not been paid the entire purchase price. All told, they claim they're owed more than $1.2 million.
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Owner of city apartment complex files Chapter 11

October 26, 2010
Kathleen McLaughlin
The owner of a 518-unit apartment complex on the northwest side of Indianapolis is seeking Chapter 11 bankruptcy protection as it disputes the amount of its mortgage debt with its lender.
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U.S. attorney to ask for review of IURC ethics dispute

October 26, 2010
Associated Press
U.S. Attorney Joe Hogsett says he'll ask "the appropriate federal agency" to review an ethics dispute that has embroiled the Indiana Utility Regulatory Commission and Duke Energy Corp.
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Cummins shares fall after quarterly report

October 26, 2010
 IBJ Staff and Associated Press
Cummins Inc. reported $283 million in third quarter profit, a three-fold increase from the year-ago period, but the performance missed analyst expectations.
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Kokomo approves tax breaks for Delphi division

October 26, 2010
 IBJ Staff
Delphi Electronics & Safety is moving ahead with a $28 million investment in its Kokomo operations, city officials said this week.
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Greenfield apartment market heats up with sales, development activity

October 26, 2010
Tom Harton
The Hancock County community is drawing interest because of recent hiring in the area and a strong population of seniors.
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American Commercial Lines sued over $777M buyout bid

October 26, 2010
Bloomberg News
Officials of Jeffersonville-based American Commercial and private-equity firm Platinum Equity LLC structured the $33-a-share offer in a way that unfairly bars other bids for the shipping company, American Commercial shareholder Leonard Becker said in his lawsuit.
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City-County Council approves 2011 budget

October 25, 2010
 IBJ Staff
The CIB's $73.1 million budget, which included a $10 million payment to the Pacers for the operation of Conseco Fieldhouse, passed by a 15-14 vote.
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NCAA tackles agents issue, looks to new sanctions

October 25, 2010
Associated Press
Several groups are working with the NCAA to find new ways to enforce rules prohibiting improper agent-related benefits for student-athletes, including possible post-NCAA financial penalties that reach into a player's potential NFL career.
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Grand jury indicts OmniSource for racketeering

October 25, 2010
 IBJ Staff
A Marion County grand jury has returned an eight-count indictment against OmniSource Corp., accusing the metal recycling powerhouse of racketeering and receiving stolen property. Company president Mark Millett called the allegations "unfounded."
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WellPoint dismisses highly paid subsidiary CEO

October 25, 2010
Associated Press
Last year, Dijuana Lewis earned a $650,000 salary as one of the insurer's highest paid executives and received a $200,000 bonus in part for helping to lead the sale of the NextRx subsidiary to Express Scripts Inc. for about $4.68 billion.
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Recovery from Schrenker likely to be only 7 percent

October 25, 2010
Associated Press
A report by the receiver appointed to document Marcus Schrenker's assets says he just doesn't have enough money to repay investors more than that.
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Defunct ATA Airlines awarded $66M in FedEx lawsuit

October 25, 2010
Chris O'Malley
An Indianapolis jury has returned a $65.9 million verdict against Memphis-based FedEx in a breach-of-contract lawsuit brought in 2008 by now-defunct ATA Airlines.
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Female engineers appeal discrimination ruling

October 25, 2010
Kathleen McLaughlin
Two female engineers who pursued a gender-discrimination case against Rolls-Royce Corp. for the past four years intend to appeal a judge's decision in the company's favor.
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GOP could gain quorum in state Senate election

October 25, 2010
Mary Dieter
Indiana Senate Democrats, long considered the last bastion of liberal thought in state government, are in danger of becoming politically irrelevant after the Nov. 2 election—something they say would disenfranchise nearly 2 million Hoosiers who live in their districts.
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Some council members still unsure about CIB budget

October 25, 2010
Francesca Jarosz
The Capital Improvement Board’s controversial spending plan will face its final trial Monday night as the City-County Council takes up the city’s $1.1 billion budget for next year.
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Local Raytheon operation lands $47M Army contract

October 25, 2010
 IBJ Staff
Raytheon Technical Services Co. in Indianapolis won a $47 million deal to make infrared systems for U.S. Army armored vehicles, continuing a string of sizable military contracts it has scored this year.
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N.Y. attorney general sues FedEx over driver status

October 25, 2010
Bloomberg News
The Memphis, Tenn.-based company, which has a distribution hub in Indianapolis, says its contract-driver model is legal and was approved for tax purposes by the U.S. Internal Revenue Service in 1994.
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Indiana will spend $77 million to reduce impact of new I-69

October 23, 2010
Associated Press
Environmentalists not impressed, say state is doing the minimum to comply with federal law.
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Old-school costume shop survives new competition

October 23, 2010
Sam Brattain
Costumes by Margie isn’t a strip mall box store full of packaged—and disposable—costumes for sale. The shop has a variety of clothing and accessories for rent and a staff, including owner Cheryl Harmon, ready to help put together whatever disguise a customer can dream up.
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Farmland sales go flat in suburban Indianapolis

October 23, 2010
Scott Olson
The real estate bust and a drought in transactions make values all but impossible to gauge.
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Builder's lakeside home defies rustic expectationsRestricted Content

October 23, 2010
Katie Maurer
Sparse interiors, vast windows and thoughtfully placed artwork define the look and feel of the Sundstrom home. Their minimalist approach gives top billing to the view and natural surroundings that originally persuaded the couple to relocate.
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