News & Analysis

Homeowners need to re-file for Homestead tax break

April 27, 2010
Scott Olson
The goal of the new law is to reduce tax fraud from Hoosiers who file for the Homestead deduction on more than one residence.
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Cummins profit jumps on demand from emerging markets

April 27, 2010
Scott Olson
The Columbus-based engine maker sees sales increase in developing countries such as China, India and Brazil.
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Calumet wins $132M federal defense contract

April 27, 2010
The one-year agreement calls for the Indianapolis-based company to supply aviation fuel to the Defense Energy Support Center in Virginia.
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Celadon reports quarterly profit on higher revenue

April 27, 2010
The Indianapolis-based trucking company saw profit rise to $400,000 in its third quarter from a $2.1 million loss in the same period last year.
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Architect finds new path as real estate struggles

April 27, 2010
Tom Harton
The 25-year-old Prince/Alexander architecture firm is on the path to being acquired by Dallas-based REES Associates, an employee-owned firm with 120 architects.
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General Growth hearing delayed to weigh bids

April 26, 2010
Bloomberg News
General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon Property Group.
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First Internet Bank profitable in first quarter

April 26, 2010
The Indianapolis-based parent company of First Internet Bank of Indiana said on Monday that it earned $2.2 million in the first quarter, compared with a loss during the same time frame last year.
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UPDATE: Emmis takeover deal unlikely to hit turbulence

April 26, 2010
Greg Andrews, Scott Olson
A big Emmis Communications Corp. shareholder believes the $90 million deal CEO Jeff Smulyan unveiled Monday morning to take the company private is unlikely to get derailed—even though it’s worth far less than a takeover offer Smulyan failed to get through his board four years ago.
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WellPoint gets lashing from Sebelius, again

April 26, 2010
J.K. Wall
Indianapolis-based health insurer trades jabs with U.S. health secretary after Reuters story claims insurer deliberately cancels coverage for breast cancer patients.
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Emmis chief looks to take company private

April 26, 2010
Scott Olson
JS Acquisition Inc., the company Emmis CEO Jeff Smulyan has established to complete the acquisition, would purchase all shares of publicly traded Emmis for about $90 million, according to Monday morning's announcement.
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Old National improves first-quarter performance

April 26, 2010
 IBJ Staff
Evansville-based Old National Bancorp on Monday reported a first-quarter profit of $10.1 million, up 84 percent from the prior-year period and a big improvement from the fourth quarter of 2009, when the company posted a loss of $9.3 million.
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U.S. farmers planting corn at record pace

April 26, 2010
Bloomberg News
U.S. corn farmers may have planted more acres last week than in any week ever as dry weather and more-productive equipment sped up fieldwork.
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Medicare Advantage may survive cuts under health reform

April 26, 2010
 IBJ Staff and Bloomberg News
The two largest U.S. health insurance companies, UnitedHealth, based in Minnetonka, Minn., and WellPoint Inc., based in Indianapolis, sell Advantage plans.
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State job fair part of Speedway's May festivities

April 26, 2010
Scott Olson
The central Indiana WorkOne Center is teaming with the Indianapolis Motor Speedway to present Career Day @ the Brickyard, an event that mixes job searching with racing.
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Franklin residents still struggle with solution for flooded land

April 25, 2010
Associated Press
Crews will begin in late April demolishing the first of 74 homes south of downtown Franklin damaged by massive flooding in June 2008. Officials still haven't decided how to reuse the land, and residents are torn.
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Carmel City Center gaining momentum

April 24, 2010
Cory Schouten
Thirteen years after Mayor Jim Brainard first described his vision for a new downtown along Range Line Road, Carmel City Center is starting to look like a city.
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George courting F1 again, but maybe not for Indy

April 24, 2010
Anthony Schoettle
Tony George, who was Indianapolis Motor Speedway and Indy Racing League chairman until last June, was in China for several days this month to attend F1's Chinese Grand Prix in Shanghai April 18 at the invitation of F1 boss Bernie Ecclestone.
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Politically connected broker's deals raise conflict questions

April 24, 2010
Cory Schouten
John Bales' firm earned $2.9M in commissions on leases for state agencies and $270,000 in commissions on the sale of surplus state properties. He also acted as a developer for public-sector tenants—putting them into buildings owned by him or his associates.
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Many retail locations plagued by vacanciesRestricted Content

April 24, 2010
Scott Olson
Vacancy rates unseen in 20 years are hampering efforts by developers.
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Clarian hospital system regains its appetite to buildRestricted Content

April 24, 2010
J.K. Wall
Clarian is planning to spend $1.7 billion in the next five years on capital projects, half of that going to its downtown Indianapolis campuses.
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Rising prices could help pork producers bounce backRestricted Content

April 24, 2010
Kathleen McLaughlin
The prices hogs are fetching this year will help farmers begin to climb out of the crater of 2008 and 2009. Average pork prices may approach record levels this year, Purdue University agricultural economist Chris Hurt predicted, up to $53.63 per hundred pounds. The record is $55.44 per hundred pounds, set in 1982.
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With five new acquisitions, Skillman builds car-lot dynastyRestricted Content

April 24, 2010
Peter Schnitzler
Ray Skillman bought five car lots in the last 12 months from other dealers who have struggled during the recession. Skillman now ranks among the five largest dealers in the area, and his chain is poised for even more growth.
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Medical device startup FlowCo enlists Guidant alums

April 24, 2010
Chris O'Malley
The upstart developer of a device to help doctors choose the right-sized stent to prop open clog-prone arteries has brought aboard former Guidant Corp. executives, including Bill McConnell. Their regulatory and marketing expertise could help FlowCo Inc. bring its artery-measurement product to market as soon as 2011.
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Anderson tech firm One Number files patent suit against GoogleRestricted Content

April 24, 2010
Chris O'Malley
An Anderson firm that provides a “one number” service that rings all of a client’s phones has filed suit against Web giant Google, alleging Google Voice infringes on two of its patents.
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Indy defense accounting jobs appear safe

April 23, 2010
Chris O'Malley
Department of Defense concurs that Indianapolis a better location than Cleveland for about 225 Marine Corps jobs.
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