News & Analysis

Indiana Senate's top Democrat demands budget-cut data

June 1, 2010
Associated Press
Minority Leader Vi Simpson, D-Bloomington, said the Republican governor's budget director told her that a comprehensive list of executive branch budget reductions wasn't available. She said that's unacceptable.
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Health care firm plans to create 114 jobs

June 1, 2010
SynCare LLC's expansion hinges on city approval of property tax abatement. The Metropolitan Development Commission is set to vote on the request Wednesday.
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Zoning board denies plan for club catering to under-21 crowd

June 1, 2010
Cory Schouten
The music has stopped for a proposed under-21 club at Madison Avenue and Southport Road after a city board on Tuesday unanimously denied a controversial rezoning request.
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EnerDel parent lands $65M investment

June 1, 2010
 IBJ Staff
The parent company of lithium-ion battery maker EnerDel has landed a $65 million investment from its largest shareholder.
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Genetic testing could spur Erbitux drug sales

June 1, 2010
Bloomberg News
The drugmakers are counting on screening for the so-called K-ras gene to spur use of Erbitux in metastatic colorectal cancer.
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Local liquor chain buys four stores in Kentucky

June 1, 2010
United Package Liquors' purchase of Bowling Green locations could be start of larger company expansion, CEO and president says.
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Anti-development property owner gives homestead to local land trust

June 1, 2010
Kathleen McLaughlin
A 16-acre wood nestled against the White River and surrounded by the Keystone at the Crossing shopping center will become a public nature preserve.
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Toyota to move Highlander production to Indiana

June 1, 2010
 IBJ Staff and Bloomberg News
Toyota began manufacturing the Highlander SUVs in November 2000 and has been making between 1,000 to 9,000 gasoline vehicles a month. In April, it produced about 1,900 units.
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Road upgrade kicks off improvements in Lafayette Square area

June 1, 2010
Tom Harton
A $20 million improvement of West 38th Street between Guion and High School roads that is set to begin next month is the first in a series of initiatives that stakeholders hope will revive the real estate fortunes of the area anchored by Lafayette Square Mall.
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Franchitti earns $2.8 million for Indy 500 win

May 31, 2010
Associated Press
Franchitti's earnings were part of an overall purse of $13,592,815. The paychecks were announced at the annual victory dinner Monday at the Indianapolis Motor Speedway.
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Other states join Indiana in spurning grant program

May 31, 2010
 IBJ Staff and Associated Press
About two dozen states are going back to Washington for another shot at billions in education grants under the "Race to the Top" program, but at least nine others including Indiana are opting out of trying a second time.
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INSIDE DISH: Bonge's Tavern survives, thrives in the boonies

May 31, 2010
Mason King
Bonges Watch videoDespite setbacks including a devastating lightning strike, Tony Huelster of Bonge's Tavern has turned the middle-of-nowhere eatery into a dining hotspot.
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Rivers Edge lands Nordstrom Rack, The Container Store

May 29, 2010
Cory Schouten
Two sought-after national retail concepts are poised to open their first Indianapolis stores. Kite Realty Group Trust has recruited Nordstrom Rack and The Container Store as likely anchors of a redevelopment of Shops at Rivers Edge along 82nd Street at Dean Road.
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In-car spy device could drive sales

May 29, 2010
Chris O'Malley
Carmel-based CarCheckup LLC has created a cell-phone-size device that plugs into a car's "OBD II" diagnostic port to track a plethora of data, such as speed ranges, graphs of RPM, and numbers on how hard the car accelerated and braked. The company is marketing the device to parents of teen drivers, among others.
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Performance Services guarantees City-County Building energy savings

May 29, 2010
Chris O'Malley
The firm was a pioneer in the energy savings niche more than a decade before green became cool or was perceived to be a viable market.
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Cancer researcher battling Semafore in courtRestricted Content

May 29, 2010
Chris O'Malley
Former collaborator alleges firm breached its agreement with him and refused to pay royalty income.
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Positron has billion-dollar hopes for medical-imaging scanner

May 29, 2010
J.K. Wall
A maker of medical imaging equipment that recently moved its headquarters to Fishers has grand plans to reach $1 billion in sales and build a multimillion-dollar cyclotron facility in five years. But history shows Positron Corp. has been far better at losing money than making it.
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Lilly grows Alimta's sales by shrinking marketRestricted Content

May 29, 2010
J.K. Wall
In 2008, Eli Lilly and Co. asked drug regulators to change the label on Alimta so Lilly could no longer promote it as a treatment for all patients suffering from non-small-cell lung cancer, but for only about 70 percent of the patients. Since then, sales of the drug have accelerated, growing a whopping 48 percent last year.
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Grameen Bank might open here, providing small loans that add up

May 29, 2010
Peter Schnitzler
Bangladesh-based Grameen Bank, the Nobel Peace Prize-winning financial institution that developed the concept of life-changing micro loans for the poor, is contemplating opening its third U.S. branch in Indianapolis.
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Biopharma fueling boom in refrigerated warehousing

May 29, 2010
Chris O'Malley
In the past few years, a handful of cold storage facilities have sprouted locally by playing to Indianapolis' strengths in warehousing and life sciences.
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Indianapolis startup attacks Alzheimer's diseaseRestricted Content

May 29, 2010
Norm Heikens
AgeneBio Inc. this month landed a $300,000 investment from the Indiana Seed Fund to fund operations, bolster its intellectual property, and begin learning how to make a drug into a once-a-day pill.
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UPDATE: Water-main break closes part of Castleton Square

May 28, 2010
Kathleen McLaughlin
Simon Property Group spokesman Les Morris said 110 out of 130 mall stores were open late this morning.
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Bren Simon makes $21M California land purchase

May 28, 2010
 IBJ Staff
The Ventura County properties include 100 acres in Hidden Valley, near Thousand Oaks, The Wall Street Journal said. Two lots have homes and the third is used for livestock operations.
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Race vendors gearing up for big weekend

May 28, 2010
Scott Olson
Continued fallout from a contentious open-wheel split, coupled with an uncooperative economy, have led to sagging sales for many Indianapolis 500 vendors like Ben Justice, left. But they say they have reason to be optimistic.
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EnerDel forms joint venture with Chinese autoparts maker

May 27, 2010
Kathleen McLaughlin
Battery company will offer expertise to help Wanxiang build Chinese factory, fill backlogs. Indiana employment could reach 3,000, but there's no target date for achieving that milestone.
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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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