News & Analysis

Trustee sues real estate exec for $115M

July 10, 2010
Cory Schouten
The founder of an Indianapolis real estate firm is accused of preying on longtime friends to help a Miami man perpetrate a $900 million Ponzi scheme. Sydney “Jack” Williams persuaded more than a dozen Indiana investors to lend millions of dollars at high interest rates to a food brokerage firm called Capitol Investments USA Inc.
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Baseball complex could bring area near coke plant back to life

July 10, 2010
Anthony Schoettle
A plan to build a 28-acre sports complex on the southeast side is sparking hopes that a polluted parcel across the street that formerly housed a Citizens coke plant can be revived as a retail and industrial center.
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Purdue board OKs building 3rd luxury dorm tower

July 9, 2010
Associated Press
The board on Friday approved a $20.6 million construction contact for the First Street Towers project.
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Cummins to expand Seymour plant, add 200 jobs

July 9, 2010
Kathleen McLaughlin
Cummins said it will invest $100 million in the Seymour plant as it rolls out a new, larger-displacement engine.
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WFBQ parent axes 'Bob & Tom' producer

July 9, 2010
Scott Olson
Programming executive and producer Marty Bender was let go from the popular radio show in apparent budget-cutting move.
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City receives $4.9 million for homeless initiatives

July 9, 2010
Federal funds will help provide 69 additional beds in three Indianapolis locations, including a large apartment complex on the east side.
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INSIDE DISH: Tulip Noir owner learns as she goes

July 9, 2010
Mason King
TulipNoir Watch VideoDina Romay-Sipe, a designer turned novice restaurateur, cooked up Tulip Noir from scratch. Good advice along the way: Stick to your budget, pay your bills, and get it in writing.
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New Jersey names Indiana's Walsh to head investment division

July 8, 2010
 IBJ Staff and Bloomberg News
Timothy Walsh will take over a $68 billion pension fund, eight times larger than the $8.5 billion Indiana State Teachers Retirement Fund he headed since 2008.
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Regenstrief names new CEO

July 8, 2010
J.K. Wall
Dr. Bill Tierney will replace Dr. Tom Inui on Oct. 1 at helm of Indianapolis-based medical research organization.
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Sales-prospecting firm expects to triple employment in 2010

July 8, 2010
Peter Schnitzler
Locally based consultancy LeadJen had 20 employees in January. Halfway through the year, the company already has hired 20 more, and President Jenny Vance expects to add another 20 over the next six months.
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Super Bowl Host Committee beefs up its staff

July 8, 2010
Three of the six additions are executives on loan from the Indiana Sports Corp. and the Indianapolis Convention & Visitors Association.
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Secondary lender sues Chase over fire sale

July 8, 2010
Kathleen McLaughlin
Indiana Community Business Credit Corp. alleges breach of contract after JP Morgan Chase auctioned off assets of American Sentry Guard of Greenwood.
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Westfield's proposed Symphony development under review

July 8, 2010
 IBJ Staff and Associated Press
The Westfield planning commission has asked city employees to further review the 1,400-acre mixed-use project that could include thousands of homes, shops, a YMCA and a baseball stadium.
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Canadian chip maker locating U.S. HQ in Fort Wayne

July 8, 2010
Saratoga Potato Chips plans to create 175 jobs in the northeastern Indiana city by 2013 and will begin hiring later this year.
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Ex-owner of cemeteries gets prison time

July 8, 2010
Associated Press
Robert Nelms, ex-owner of cemeteries in four states, including Indiana, has been sentenced to between 32 months and 10 years in prison for embezzling $4.2 million from a Grand Rapids cemetery.
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Harlan Bakeries planning $9.7M expansion

July 7, 2010
Kathleen McLaughlin
Harlan Bakeries plans to expand its Georgetown Road production facility by 65,000 square feet to make a new line of products—creating 43 jobs in the process.
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Medical device firm eyeing Indianapolis growth

July 7, 2010
Greatbatch Medical wants to expand its facility on the east side of Indianapolis to accommodate its entrance into the orthopedics market. The New York-based company specializes in cardiovascular products.
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LEADING QUESTIONS: Telamon CEO adopts unorthodox style

July 7, 2010
Mason King
LQ Chen Watch VideoAlbert Chen, founder of Telamon Corp., revels in a messy desk, espouses the benefits of humility, and admires Warren Buffett.
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Taco trio takes unusual road to entrepreneurship

July 7, 2010
Scott Olson
Former soldier, disc jockey and nurse get off to a fast start selling hand-held food from a mobile unit.
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Farmers Bank opening two branches in Hamilton County

July 7, 2010
Frankfort-based bank plans to open locations in Fishers and Noblesville as part of its plan to expand its presence in Hamilton County.
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Health reform rule could cost WellPoint

July 7, 2010
J.K. Wall
WellPoint Inc. has about $800 million riding on one arcane rule: how to calculate a medical loss ratio. The ratio quantifies the percentage of customers’ premiums were spent on medical care, rather than overhead or profits.
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Lilly's Lechleiter: No change in plans

July 7, 2010
J.K. Wall
The global financial press keeps asking John Lechleiter for his end-game strategy to survive Eli Lilly and Co.'s nightmarish patent challenges. And, like a broken record, the Lilly CEO keeps giving the same answer: pipeline, pipeline, pipeline—no mega-merger.
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Solar panel maker must prove low production cost

July 7, 2010
Kathleen McLaughlin
The company says it will hire 900 to 1,200 people in Indiana, but first, it must focus on successfully scaling up its existing facility in Colorado.
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Former loan officer charged with falsifying documents

July 6, 2010
Prosecutors say Robert Tolle falsified a construction progress inspection report while at Old National Bank. He faces a maximum 30-year prison sentence and $1 million fine.
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Indiana mine operation to close

July 6, 2010
Peabody will close mine south of Terre Haute by mid-September, but a majority of the workers will move to jobs in other mining operations.
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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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