News & Analysis

Women's Fund sets $20 million goal for endowment

April 10, 2010
Kathleen McLaughlin
The Women's Fund of Central Indiana recently completed an endowment drive that raised $7 million, making the endowment one of the largest of its kind in terms of assets.
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Noblesville company has high hopes for pomegranate

April 10, 2010
Kathleen McLaughlin
Verdure Sciences, a botanical-extract distributor, has invested more than $1 million in marketing and research, and hopes to see its product in more foods and drinks, perhaps even mouthwash.
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Adjunct instructors organize at IUPUI

April 10, 2010
J.K. Wall
Two problems come with prevalent use of adjunct instructors: a perception that adjuncts reduce the quality of instruction and the adjuncts' frustration with low levels of pay, security and benefits, and appreciation.
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Final Four run presents challenges for Butler

April 10, 2010
Anthony Schoettle
Horizon League Commissioner Jon LeCrone is hopeful Butler University officials will not let their enthusiasm over the school's recent push to the NCAA Championship game run wild.
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$15M loan brings EnerDel closer to launching productionRestricted Content

April 10, 2010
Kathleen McLaughlin
The locally based battery maker serves as collateral on the financing lined up by its New York-based parent, Ener1.
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Survey: Online generation values personal touch in givingRestricted Content

April 10, 2010
Kathleen McLaughlin
The findings may come as a surprise to not-for-profit executives who think the Internet generation doesn’t require a personal touch.
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Centaur bets on risky restructuring planRestricted Content

April 10, 2010
Peter Schnitzler
Bankrupt Hoosier Park owner Centaur Inc. has offered its creditors a risky reorganization plan. For it to work, dozens of hedge funds must stay in the game, in return for a chance to buy a big chunk of the company later.
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Nursing home association facing big debtRestricted Content

April 10, 2010
J.K. Wall
The Indiana Health Care Association is looking for a new leader even as it tries to dig out of a pile of debt. Current President Steve Smith, whose contract expires Nov. 30, says he's put the organization on a path to be financially stable by 2012. But his predecessor says Smith has ruined a once-strong organization.
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Airport shrugs off CEO probe over travel allegationsRestricted Content

April 10, 2010
Chris O'Malley
The Indianapolis Airport Authority board had heard the allegations that John Clark, their star candidate for airport CEO, spent big on world travel while chief of the Jacksonville Aviation Authority. Now, the Florida state attorney is collecting travel records there and information from Indianapolis about trips Clark made here for job interviews.
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Parking privatization may spur economic development

April 9, 2010
Peter Schnitzler
Mayor Greg Ballard's potential lease of more than 15,000 street, surface and garage parking spaces could create turnover downtown and in Broad Ripple, boosting retailers and restaurants.
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Keeping Stevens key to Butler's fund-raising plans

April 9, 2010
Anthony Schoettle
Assuring Stevens stayed in the Bulldogs' kennel is part of a multi-prong plan to grow the Indianapolis school's $11.2 million athletics department budget.
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Bennett demands ISTA support for school reforms

April 9, 2010
J.K. Wall
State superintendent of public instruction says teacher union support imperative to win federal grant.
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Steak n Shake unveils new restaurant prototype

April 9, 2010
Cory Schouten
The company now known as Biglari Holdings Inc. on Thursday unveiled a new prototype for future Steak n Shake restaurants. CEO Sardar Biglari said the goal is to open about 1,500 new franchise locations in the coming years.
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Lilly diabetes drug may have cancer risk, FDA says

April 9, 2010
 IBJ Staff and Bloomberg News
Once-weekly form of Byetta is awaiting the FDA's OK. Analyst predict the new version of the drug, if approved, could rack up sales of $2 billion annually.
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AIG's American General unit said to be seeking $3B term loan

April 9, 2010
Bloomberg News
Bank of America Corp. is arranging a five-year loan that will be sold at a discount of 98 cents to 98.5 cents on the dollar, according to a source who declined to be identified because the discussions are private.
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Butler locks up Stevens with new contract

April 8, 2010
Anthony Schoettle
The 12-year deal signed by men's basketball coach Brad Stevens extends his Butler contract through the 2021-22 season.
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Marion County library may close six branches

April 8, 2010
Kathleen McLaughlin
The Indianapolis-Marion County Public Library could close up to six branches or reduce their hours in order to close a budget shortfall.
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Financial backer agrees to drop suit against Lauth

April 8, 2010
Scott Olson
Affiliates of Lauth's largest financial backer, Inland American Real Estate Trust in Chicago, agree to dismiss their suit against the Indianapolis-based developer, and also withdraw a request to have a Chapter 11 trustee appointed.
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UPDATE: Steak n Shake shareholders OK name change

April 8, 2010
Cory Schouten
Steak n Shake Co. shareholders on Thursday approved changing the parent company’s name to Biglari Holdings Inc. Shares begin trading under the new name on Friday.
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Catholic schools get final OK to become charters

April 8, 2010
 IBJ Staff
The City-County Council gave its official blessing to two Catholic schools in poor neighborhoods converting into secular charters; they will receive new names by fall.
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Steak n Shake CEO woos investors in New York City

April 8, 2010
Cory Schouten
Steak n Shake Co. doesn't operate a single restaurant in New York City, where it is hosting its annual meeting Thursday. But the world financial capital is chock full of high-profile investors intrigued by Steak n Shake CEO Sardar Biglari's plans to harvest cash from the 485-location restaurant chain and deploy it on other investments.
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City's No. 2 real estate agency changes brands

April 8, 2010
 IBJ Staff
Century 21 Realty Group is now Prudential Indiana Realty Group, affecting 418 agents in 12 offices around Indiana.
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Shelbyville insulation company laying off 100 workers

April 8, 2010
Knauf Insulation will idle employees in June for at least six months, as demand for its building products remains soft.
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Louisiana gets $20M in Lilly drug settlement

April 7, 2010
Associated Press
Louisiana was one of 13 states that filed individual suits in state courts over allegations that Lilly pushed Zyprexa for uses that had not been approved by federal regulators.
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Indiana high court hears casino card-counting case

April 7, 2010
Associated Press
An Indianapolis man sued the Grand Victoria Casino and Resort after it banned him from the blackjack table in 2006. The casino won the suit, but the state appeals court reversed that decision. The casino asked the high court to weigh in.
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  1. 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.

  2. If you only knew....

  3. 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.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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