News & Analysis

Box maker halting production, putting 97 out of work

March 30, 2010
Austin, Texas-based Temple-Inland Inc. has notified state officials that will stop producing boxes at its Evansville facility on May 28.
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Downtown buildings land arts tenants

March 30, 2010
Tom Harton
Vonnegut Memorial Library Inc. will move into 1,100 square feet at 340 N. Senate Ave. The Arts Council of Indianapolis will occupy 5,400 square feet at 922 N. Pennsylvania St.
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Fishers Town Council delays vote on $19M auto mall

March 29, 2010
 IBJ Staff
If the council gives its blessing, construction could begin this spring on Butler Automotive Group's five-dealership development along State Road 37. About 230 jobs could be created.
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Shriners sue Live Nation, Old National over Murat renaming

March 29, 2010
Kathleen McLaughlin
The Murat Temple Association is a Shriners affiiate that owns the Murat Centre, which on March 16 was renamed the "Old National Centre" in a three-year deal between the bank and Live Nation.
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Severance boosts pay of former Duke Realty exec

March 29, 2010
Peter Schnitzler
Duke Realty's former chief operating officer took home $3.1 million last year. The office, industrial and retail property owner and manager also awarded raises to its CEO and the rest of his management team.
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Final Four corporate hospitality spending on the rise

March 29, 2010
Kathleen McLaughlin, Anthony Schoettle
Corporate hospitality at sports events has been stagnant in recent years, but organizers expect a big bounce for this year's NCAA Final Four in Indianapolis.
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Engeledow Group acquires estate landscaper

March 29, 2010
Kathleen McLaughlin
Engledow Group, one of the Indianapolis area's largest landscape companies, has acquired Litchfield Landscape Co. to bolster its estates division.
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Local attorney sues Fundex over game royalties

March 29, 2010
A local lawyer who created the game "Chronology" alleges breach of contract, trademark infringement, use of a counterfeit mark, unfair competition, copyright infringement, trademark dilution and forgery.
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Tax-break deadline spurs spec homes in Parade

March 29, 2010
Scott Olson
This spring's Parade of Home is being held about two weeks earlier than normal to help builders lure homebuyers who want to take advantage of federal incentives intended to give the residential real estate market a boost. Builders also are taking chances on more spec homes.
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General Growth preparing to file finance plan

March 29, 2010
Bloomberg News
General Growth is weighing options to exit Chapter 11 protection, with competing bids from Indianapolis-based Simon Property Group Inc. and Brookfield Asset Management Inc.
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Final Four finally gives Butler reason to party

March 28, 2010
 IBJ Staff and Associated Press
About eight hours after Butler beat second-seeded Kansas State 63-56 to reach the first Final Four in school history, the Bulldogs returned home to a large crowd and loud cheers.
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Employers fret over health care overhaul

March 27, 2010
J.K. Wall
Most employers in central Indiana are just beginning to figure out what the health insurance reform bill will mean for their businesses. Caterpillar Inc., which employs nearly 1,500 at an engine plant in Lafayette, expects costs to rise about 20 percent.
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Airport ponders radical ideas to boost revenue

March 27, 2010
Chris O'Malley
The Indianapolis Airport Authority is poised to pull out all the stops to maximize revenue in the face of declining travel. Possibilities include hosting a farmer's market atop the airport parking garage and opening secure areas to shoppers who aren't flying anywhere.
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Vogue owner's bankruptcy may force sale of venueRestricted Content

March 27, 2010
Peter Schnitzler
A mix of business and personal woes have pushed Steven Carter Ross, the longtime owner and manager of the Vogue nightclub, into personal bankruptcy. Now a judge must decide whether Ross can keep the popular Broad Ripple music venue, or if he must sell it to satisfy his creditors and his estranged wife.
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Entrepreneurs lose clout as VC funds get stingier

March 27, 2010
Scott Olson
Most local venture funds are standing pat because the economy is weak and they’re no longer in fund-raising mode. Having invested most of their funds, the firms have shifted to the nurturing, or “harvesting” stage, to try to improve investment returns.
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Former Thomson plant back in bankruptcyRestricted Content

March 27, 2010
Cory Schouten
A Bloomington investor bought the sprawling complex out of receivership in 2008, and had hoped to spend more than $20 million to renovate it.
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Universities spare fund-raisers amid budget cutsRestricted Content

March 27, 2010
Kathleen McLaughlin
The IU Foundation recently cut 18 of 201 staff members but nonetheless is looking at adding reinforcements in fund raising.
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Junior Achievement CEO awaits results of auditRestricted Content

March 27, 2010
Kathleen McLaughlin
Jennifer Burk, who took the helm in July, wishes she'd asked more questions when she was a board member.
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Final Four helps Indianapolis warm up for 2012 Super BowlRestricted Content

March 27, 2010
Anthony Schoettle
The goal of any host city of a major sporting event is simple: Rake in as much cash as possible during the days the event is in town and maximize future economic potential by boosting the city’s image among everyone who watches on television. Execution is more difficult.
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Local security division of Stanley keys growth for companyRestricted Content

March 27, 2010
Kathleen McLaughlin
Stanley Black & Decker, based in New Britain, Conn., reported 2009 profit of $224 million. Its Indianapolis-based security division, one of three segments, accounted for more than half those earnings.
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IBJ honored for Simon and Durham stories, Web siteRestricted Content

March 27, 2010
IBJ received three national journalism awards at the Society of American Business Editors and Writers' annual conference March 20 in Phoenix.
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Butler benefiting big from basketball run

March 26, 2010
Scott Olson
Besides an immediate bump in apparel sales, the university is expecting a jump in student applications, alumni contributions and season-ticket sales, as well.
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Lilly to let 115 workers go in new outsourcing deal

March 26, 2010
J.K. Wall
Deal with unit of Massachusetts-based Thermo Fisher Scientific would keep many of the employees working in same location.
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Indiana unemployment rate ticks up to 9.8 percent

March 26, 2010
 IBJ Staff and Associated Press
The state's jobless rate has been either 9.8 percent or 9.7 percent the past four months.
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Health care bill burns local tanning industry

March 26, 2010
Anthony Schoettle
With one of the nation's largest tanning-bed manufacturers and dozens of salons in central Indiana, a 10-percent tax on tanning could cost the region jobs.
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