News & Analysis

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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Super Bowl scarf-knitting, green programs unveiled for 2012

January 29, 2010
Anthony Schoettle
The 2012 Super Bowl Host Committee unveiled two unique programs bent on culling the state for a diverse volunteer base. But one well-known local black activist said the effort isn't good enough.
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Haynes pays CEO almost twice as much as predecessor

January 29, 2010
Peter Schnitzler
CEO Mark Comerford's $1.46 million in total compensation in fiscal 2009 was nearly double Francis Petro's pay the previous year—even though the company's revenue dropped 31 percent in the same period.
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Ambassadair travel club scores on Colts' success

January 29, 2010
Chris O'Malley
The Indianapolis Colts’ second trip to the Super Bowl in Miami is scoring business for the locally based Ambassadair travel club.
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Analyst: Recalled Toyotas likely won't face long-term resale hit

January 29, 2010
Chris O'Malley
Recalled Toyotas have been yanked from used-vehicle auction blocks, but resale values should be protected if Toyota handles the recall with "transparency," according to a local analyst.
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Job cuts begin at east-side steering parts plant

January 29, 2010
Fifteen employees at an east-side automotive plant operated by a Ford subsidiary will lose their jobs on March 31. More job cuts are expected, as the factory prepares to close by the end of 2011.
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Unsung Manning sibling a player in investment field

January 29, 2010
Bloomberg News
Cooper Manning, brother of Super Bowl winners Peyton and Eli, is a big success in his own right as a broker of energy stocks. But you'll rarely hear him mention the sibling connection to his clients, or that he's buddies with Drew Brees.
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Economy bolts forward 5.7 percent in fourth quarter

January 29, 2010
Associated Press
There's more evidence that the recession is over, as businesses restock inventories and both corporate and consumer spending increases.
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Mobile lab maker Biologics to create 50 jobs in Brownsburg

January 29, 2010
 IBJ Staff
A startup that makes mobile laboratory and manufacturing facilities will locate its headquarters, design and manufacturing operations in Brownsburg, creating at least 50 jobs by 2013.
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Senate OKs bill to eliminate township boards

January 29, 2010
 IBJ Staff and Associated Press
The Republican-controlled Senate voted 29-19 Thursday for a bill that would eliminate township boards and transfer their duties to the county level starting in 2013. It now moves to the Democrat-led House for consideration.
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Conner Prairie sees attendance, giving increase in 2009

January 29, 2010
Kathleen McLaughlin
Conner Prairie saw increases in both daily admissions and giving in 2009 and ended the annual period in the black for the fourth year in a row.
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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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