News & Analysis

Health overhaul's $264M question weighs down WellPoint

September 22, 2010
Bloomberg News
The failure by state regulators to decide how much insurers must spend on patient care is scaring investors from health-plan stocks and complicating insurance company decisions.
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Film Fest leader leaving for documentary gig

September 22, 2010
Kathleen McLaughlin
Dorothy Henckel, president of the Indianapolis International Film Festival, has accepted a job as director of acquisitions for The Documentary Channel.
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Schlage acquires Fusion door-hardware division

September 22, 2010
Schlage's purchase of the Georgia-based company's division gives it immediate access to the decorative door hardware and lock market, the company said.
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Building binge hasn't crimped hospital profits

September 22, 2010
J.K. Wall
Indianapolis-area hospitals spent billions on construction in the past decade and increasingly tried to poach patients from one another’s territories. Yet last year—one of the worst economically in recent history—21 of 26 hospitals still were able to show operating profits.
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Lilly discovers social media

September 22, 2010
J.K. Wall
Eli Lilly and Co. launched its own blog this month, dubbed LillyPad, to try to start discussions about public policy and corporate social responsibility. The Indianapolis-based drugmaker also launched an accompanying Twitter feed.
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Turner gets digital rights to NCAA championships

September 21, 2010
Associated Press
The deal includes management of NCAA.com, the primary web site for all 88 NCAA tournaments and other services.
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Indiana welfare chief says hybrid system succeeding

September 21, 2010
Associated Press
The secretary of the Indiana Family and Social Services Administration said error rates are down and the percentage of new applications for food stamps, Medicaid and other benefits on backlog has fallen by 83 percent in two two regions.
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Indiana corn coming in sooner, faster, better in 2010

September 21, 2010
Associated Press
The Indiana Agricultural Statistics Service says farmers harvested 27 percent of their corn by Sunday, compared with none by this time last year and an average of 6 percent over the past five years.
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WellPoint gets $87M Medicare contract renewal

September 21, 2010
Associated Press
The company said the Centers for Medicare & Medicaid Services renewed its durable medical equipment administrative contract for a region that covers Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio and Wisconsin.
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Indianapolis schools continue big enrollment drop

September 21, 2010
Associated Press
Indianapolis Public Schools lost more than 900 students from last school year, putting it within 800 students of falling behind Fort Wayne's school district as the state's largest.
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Proposed city parking deal would bring 200 jobs

September 21, 2010
Francesca Jarosz
A proposal to lease the city’s parking meters for 50 years would require the vendor to bring 200 jobs to Indianapolis for at least seven years. The salaries and benefits would range from $16,000 to $95,000 a year.
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TechPoint unveiling ‘measured marketing’ campaign

September 21, 2010
Scott Olson
The initiative will promote the advantages of doing business in Indiana to attract more "measured marketers." They are companies such as ExactTarget and Aprimo Inc. that provide a platform for marketing via e-mail, social media and other technologies.
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Indiana’s unemployment rate remains flat

September 21, 2010
The state's jobless rate in August remained unchanged from the previous month's figure of 10.2 percent. The loss of seasonal government and manufacturing jobs offset the addition of 3,000 private-sector jobs.
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Structural shakeup means changes at EnerDel

September 21, 2010
Kathleen McLaughlin
Ener1 Inc., the parent company of local advanced-battery maker EnerDel, has reorganized its corporate structure and shuffled management ranks.
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Hoosier Lottery moving to Meridian Street building

September 21, 2010
Tom Harton
The lottery will move in January to the Buick, a 60,000-square-foot building at 13th and Meridian streets owned by principals of Shiel Sexton Construction.
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Home construction jumps nationally

September 21, 2010
Associated Press
Housing starts are up 25 percent from their bottom in April 2009. But they remain 74 percent below their peak in January 2006.
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Angie's List snags $22.5 million investment

September 20, 2010
The Indianapolis-based consumer review and rating service said it will use the investment to expand its health and wellness consumer review product, as well as its coupon program, "The Big Deal."
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ChaCha may drop T-Mobile over planned fee

September 20, 2010
Scott Olson
Wireless carrier plans to begin charging a new one-quarter of 1 cent fee on text messages. In response, ChaCha CEO Scott Jones says his company will drop the wireless carrier from its answer service.
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Harding Dahm drops Grubb & Ellis, strikes merger deal

September 20, 2010
 IBJ Staff
Harding Dahm & Co., which ranked sixth on IBJ’s most recent list of commercial brokerages,  will become Lee & Associates Indianapolis. Terms of the deal were not disclosed.
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Subaru of Indiana adds to permanent work force

September 20, 2010
Kathleen McLaughlin
Subaru expects higher production volumes at its Lafayette plant to last well into the future and it is converting 100 temporary positions to permanent status.
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Indianapolis lands large environmental trade show

September 20, 2010
The Pump & Cleaner Environmental Expo will be held in Indianapolis each year in February from 2012 to 2014. It is expected to attract more than 12,000 visitors annually and generate an estimated $24 million in spending over the three-year stretch.
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Republic Airways CEO going 'Undercover'

September 20, 2010
 IBJ Staff
Bryan Bedford, CEO, president and chairman of Indianapolis-based Republic Airways, will appear in an episode of "Undercover Boss" this season, CBS-TV announced.
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Incoming NCAA chief already making major changes

September 18, 2010
Anthony Schoettle
Mark Emmert, who takes over the NCAA next month, already has removed three high-level executives, met with NBA Commissioner David Stern about changing basketball eligibility rules, and sent signals he will take a hard line against cheating.
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City's parking deal similar to much-maligned Chicago pact

September 18, 2010
Francesca Jarosz
Officials promoting a 50-year lease of Indianapolis' parking meters have taken pains to point out the differences between their proposal and a controversial 75-year parking meter lease in Chicago. But a close look at both contracts shows Indianapolis' pact largely uses the Chicago template.
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Debating where to turn as Bush tax cuts near expiration

September 18, 2010
Scott Olson
With a deadline looming, supporters and detractors debate extending tax cuts signed by former president George W. Bush.
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  1. Aaron is my fav!

  2. Let's see... $25M construction cost, they get $7.5M back from federal taxpayers, they're exempt from business property tax and use tax so that's about $2.5M PER YEAR they don't have to pay, permitting fees are cut in half for such projects, IPL will give them $4K under an incentive program, and under IPL's VFIT they'll be selling the power to IPL at 20 cents / kwh, nearly triple what a gas plant gets, about $6M / year for the 150-acre combined farms, and all of which is passed on to IPL customers. No jobs will be created either other than an handful of installers for a few weeks. Now here's the fun part...the panels (from CHINA) only cost about $5M on Alibaba, so where's the rest of the $25M going? Are they marking up the price to drive up the federal rebate? Indy Airport Solar Partners II LLC is owned by local firms Johnson-Melloh Solutions and Telemon Corp. They'll gross $6M / year in triple-rate power revenue, get another $12M next year from taxpayers for this new farm, on top of the $12M they got from taxpayers this year for the first farm, and have only laid out about $10-12M in materials plus installation labor for both farms combined, and $500K / year in annual land lease for both farms (est.). Over 15 years, that's over $70M net profit on a $12M investment, all from our wallets. What a boondoggle. It's time to wise up and give Thorium Energy your serious consideration. See http://energyfromthorium.com to learn more.

  3. Markus, I don't think a $2 Billion dollar surplus qualifies as saying we are out of money. Privatization does work. The government should only do what private industry can't or won't. What is proven is that any time the government tries to do something it costs more, comes in late and usually is lower quality.

  4. Some of the licenses that were added during Daniels' administration, such as requiring waiter/waitresses to be licensed to serve alcohol, are simply a way to generate revenue. At $35/server every 3 years, the state is generating millions of dollars on the backs of people who really need/want to work.

  5. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

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