News & Analysis

Chairman Glasscock retiring from WellPoint board

February 3, 2010
 IBJ Staff
Larry Glasscock will retire as chairman of WellPoint Inc.'s board, the Indianapolis-based health insurer said early Wednesday. Company CEO Angela Braly will assume the position March 1.
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Health firms still attracting venture capital

February 3, 2010
J.K. Wall
The uncertainty of health care reform and a bad economy curtailed venture capital flow in 2009. That trend hit Indianapolis, but the rest of the state actually saw an increase.
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Employers still fretting about health care reform

February 3, 2010
J.K. Wall
As congressional Democrats work behind closed doors to save health reform legislation, they face a persistent obstacle: super-majorities of employers and employees are convinced reform will raise their costs.
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Salvation Army falls short of fund-raising goal

February 2, 2010
Kathleen McLaughlin
The Salvation Army Indiana said Tuesday that it just missed the $3 million mark in its annual Tree of Lights campaign, partly because the Jan. 12 earthquake in Haiti diverted the staff's attention from the fund-raising effort.
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Deborah Simon says other potential trustees have conflicts

February 2, 2010
Greg Andrews
Melvin Simon's daughter, who's seeking to remove her stepmother from overseeing a trust that holds her late father Melvin's fortune, says a corporate trustee is a better option than brother David Simon or family financial adviser Bruce Jacobson.
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Clarian eyes vacant Levitz space for office, warehouse use

February 2, 2010
Kathleen McLaughlin
Clarian Health Partners is considering converting a long-vacant, 180,000-square-foot Levitz furniture store on East Washington Street into a center for home-health and pharmacy services.
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First hotel in downtown Marriott complex to open doors

February 2, 2010
Scott Olson
The Fairfield Inn & Suites on West Washington Street downtown will open Wednesday. The hotel is the first of four comprising the 1,600-room Marriott Place project to welcome guests.
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Dow AgroSciences profit falls despite revenue increase

February 2, 2010
 IBJ Staff
Indianapolis-based Dow AgroSciences said Tuesday it posted a profit of $69 million in the fourth quarter, down 19 percent from the prior year because of increased research and development spending and higher administrative expenses. Revenue was up 17 percent.
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CBS sells out Super Bowl advertising slots

February 2, 2010
Bloomberg News
More than a dozen first-timers will kick off ad campaigns with spots purchased during the Super Bowl on Sunday, making up for holes left by Priceline.com and Toyota.
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Cincinnati investors buy apartment complex anchored by mansion

February 2, 2010
Tom Harton
Sundance Real Estate Holdings and other investors closed on the 37-unit Mansion Row apartments at 2550 Cold Spring Road on Dec. 30.
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New emissions standards drive up Cummins profit

February 2, 2010
Kathleen McLaughlin
Columbus-based diesel engine maker Cummins Inc. posted its most profitable fourth quarter in company history, thanks to a rush on engines that won't have to conform to new emission standards.
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Bull-riding boss takes reins of Indy Racing League

February 2, 2010
The CEO of the Professional Bull Riders Association has accepted an offer to lead the Indy Racing League. The IRL has been without a leader since Tony George was ousted last summer as boss of the Indianapolis Motor Speedway.
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Melvin Simon's daughter seeks to oust Bren as trustee

February 1, 2010
Greg Andrews
Deborah Simon is seeking the removal of her stepmother and appointment of a corporate trustee while her lawsuit challenging changes to the late billionaire's will plays out. The move is the latest salvo in an escalating battle over an estate that could be worth $2 billion.
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Enzon Pharmaceuticals sells Indy drug plant; 100 local jobs safe

February 1, 2010
New Jersey-based Enzon Pharmaceuticals Inc. has sold its Indianapolis plant that manufactures specialty drugs in a deal that could top $300 million. The buyer says that the operations, which employ about 100, will remain in the city.
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Daniels revives push to merge PERF, TRF pension fundsRestricted Content

January 30, 2010
Peter Schnitzler
Gov. Mitch Daniels wants legislators to revive a merger of the Indiana Public Employees Retirement Fund and the Indiana State Teachers Retirement Fund. He says the move could save up to $50 million a year in fees.
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Apartment developer investing $100M in Hamilton projects

January 30, 2010
Cory Schouten
Carmel-based developer J.C. Hart Co. is making a $100 million bet that luxury apartment communities will continue to thrive in Hamilton County, particularly along 146th Street.
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Litigation slows entrepreneur behind laser weapons, flying scooterRestricted Content

January 30, 2010
Chris O'Malley
Anderson entrepreneur Pete Bitar has been slowed by litigation but still plans to spearhead a team in the competition to put a rover on the moon.
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St. Vincent to buy Care Group, city's largest cardiology practice

January 30, 2010
J.K. Wall
St. Vincent Health is near an agreement to take over The Care Group LLC, the city's largest independent physician practice and largest cardiology group in the nation.
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Wireless bidding system BidPal drives charity auction offers higherRestricted Content

January 30, 2010
Chris O'Malley
Tech executive Scott Webber and a local entrepreneur are out to revolutionize benefit auctions, which, despite their importance in raising an estimated $16 billion a year for not-for-profits, can be remarkably primitive.
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Federal rule tied to electronic medical records panned

January 30, 2010
J.K. Wall
The government has erected a high fence around a pot of $27 billion available to doctors and hospitals that successfully computerize their patient records by next year, sparking complaints.
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Precedent lands two big deals for Greenwood industrial parkRestricted Content

January 30, 2010
Cory Schouten
Locally based The Precedent Cos. in recent months has landed build-to-suit deals for locally based Mays Chemical Co. and Elona Biotechnologies Inc.
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A tale of two quarterbacks: Sizing up Manning and Brees

January 30, 2010
Anthony Schoettle
From their career paths to their paychecks, Indianapolis Colts quarterback Peyton Manning and New Orleans Saints signal caller Drew Brees are miles apart in many ways. But there also are some intriguing parallels between the men who led their teams to Super Bowl XLIV.
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City of Greenwood might fund launch of insulin makerRestricted Content

January 30, 2010
Kathleen McLaughlin
Greenwood-based Zimmerman Biotechnologies LLC hopes to become the first company in the United States to make generic insulin, a long-awaited development in diabetes treatment. The Greenwood Common Council on Feb. 1 will consider an $8.4 million deal that would finance construction of an insulin factory, as well as help Zimmerman with FDA-approval and equipment expenses.
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Steak n Shake posts profit, plans new corporate name

January 29, 2010
Associated Press
Steak n Shake Co. said Friday it posted a fourth-quarter profit, and said it is planning to change its corporate name to Biglari Holdings Inc.
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IPL retirees lose appeal over retirement benefits

January 29, 2010
Chris O'Malley
Indiana Court of Appeals upholds utility commission ruling favorable to IPL. Although court does "not condone" IPL's action in the retirement benefits case, it gives deference to the commission.
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  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?

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