News & Analysis

Investors cheer Senate bill while WellPoint cries foul

December 23, 2009
J.K. Wall
Exemption for not-for-profit health plans could saddle WellPoint with nearly $2 billion a year in new taxes.
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College cuts will favor some schools over others

December 23, 2009
Associated Press
The Indiana Commission for Higher Education said state colleges and universities need to find new ways to be efficient—without new tuition hikes—to cope with spending cuts ordered by Gov. Mitch Daniels.
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Finish Line profit exceeds analyst expectations

December 22, 2009
 IBJ Staff
The Finish Line Inc. barely eked into the black in its fiscal third quarter, but even that exceeded analysts’ expectations.
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Conseco raises nearly $223 million in stock offering

December 22, 2009
 IBJ Staff
The Carmel-based life and health insurer immediately applied $161 million of the funds to its bank loans.
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Connersville to borrow $3.5 million to clean up Visteon site

December 22, 2009
Kathleen McLaughlin
The city of Connersville will borrow as much as $3.5 million to clean up the former Visteon site where a startup company wants to build police cars.
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Judge approves concrete price-fixing settlement

December 22, 2009
A federal judge has preliminarily approved a settlement in which a central Indiana concrete company agreed to pay $29 million to resolve a class-action antitrust lawsuit alleging it and six other companies conspired to fix the price of ready-mixed concrete.
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City mulls proposals to 'green' municipal properties

December 22, 2009
Chris O'Malley
Indianapolis’ Office of Sustainability has begun evaluating recommendations on ways to make 70 city-owned buildings more "green." Among the ideas: mounting wind turbines or solar panels at the City-County Building.
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UPDATE: Steak n Shake turning away from core business

December 22, 2009
Cory Schouten
The Steak n Shake Co. is taking a dramatic turn away from its core business with a bid to purchase a Michigan insurer in a deal valued at almost $37 million.
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BREAKING: Steak n Shake offers to acquire Michigan insurer

December 22, 2009
Cory Schouten
The Steak n Shake Co. has offered to acquire all of the outstanding shares of Fremont Michigan Insuracorp Inc. in a deal that could be worth almost $37 million.
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Fair Finance investors file additional fraud suit

December 22, 2009
Greg Andrews
More than three dozen residents of a northeast Ohio county who invested in Fair Finance Co. are seeking to recover more than $2.1 million from the shuttered company.
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Smulyan signs new contract to lead Emmis

December 21, 2009
Anthony Schoettle
Jeff Smulyan agrees to terms on a new three-year contract to lead Emmis. Signing and performance bonuses could lead to big pay raise.
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Nature Conservancy nets another $1M for building

December 21, 2009
Kathleen McLaughlin
Lilly Endowment will give The Nature Conservancy in Indiana $1 million for its headquarters building, possibly reducing the need for extensive borrowing.
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Lilly pays $90 million for autoimmune drug

December 21, 2009
 IBJ Staff
By acquiring an experimental medicine for rheumatoid arthritis, the Indianapolis-based drugmaker is increasing its focus on autoimmune diseases.
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Experts see 'great concern' over local construction outlook

December 21, 2009
Scott Olson
A symbolic topping-off ceremony early this month to celebrate a milestone on the massive JW Marriott hotel project can’t hide the anxiety felt within the construction industry.
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Rolls-Royce bags $160M military contract

December 21, 2009
 IBJ Staff
Rolls-Royce Corp.'s Indianapolis operations will manufacture 78 turboshaft engines for U.S. Navy and Air Force helicopters under the terms of a mammoth $160.6 million military contract.
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AIT shares profit with employees - again

December 21, 2009
AIT Laboratories said Monday morning it is awarding another $1 million in bonus money to employees, bringing their total take in profit sharing this year to an impressive $3 million.
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Local FedEx employees working more during holidays

December 21, 2009
 IBJ Staff and Associated Press
Many of the 5,000 employees at the FedEx Express hub at Indianapolis International Airport are benefiting from the holiday shipping rush by working longer hours.
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Radio giant Citadel files for bankruptcy protection

December 21, 2009
 IBJ Staff and Associated Press
Las Vegas-based Citadel Broadcasting, which owns three radio stations in Indiana, filed for Chapter 11 bankruptcy protection on Sunday in an effort to restructure its hefty debt load.
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Freight Masters files bankruptcy after losing business from Chrysler, BoeingRestricted Content

December 19, 2009
Chris O'Malley
The minority-owned logistics firm is also involved in a legal battle with a Washington state firm over the loss of its Boeing business.
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First Indiana Future Fund off to a slow startRestricted Content

December 19, 2009
Peter Schnitzler
More than half of the venture capital fund's original investors took a pass on its $58 million successor, the newly launched INext.
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Setbacks in diabetes market batter Roche

December 19, 2009
J.K. Wall
Roche Diagnostics Corp., once the darling of the U.S. diabetes-device market, is now licking its wounds. And it’s mulling whether to keep fighting on all fronts or to pull back.
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Prosecutor Brizzi a big player in real estate

December 19, 2009
Cory Schouten
Carl Brizzi partnered on a bank branch, took an ownership interest in an office building and flipped condos.
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Legislators face unemployment insurance fund sinking into red

December 19, 2009
Peter Schnitzler
Indiana lawmakers are preparing to punt on 2009's must-solve business issue in the hope of a federal bailout. However, it's anybody's guess how Washington will respond.
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Property tax caps stand good odds in the 2010 legislative sessionRestricted Content

December 19, 2009
Norm Heikens
Lawmakers are likely to pass property tax legislation, which would send it to a voter referendum in November and potentially into the state constitution.
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Opera directors create $40,000 challenge grantRestricted Content

December 19, 2009
Kathleen McLaughlin
Indianapolis Opera board Chairman Garry Fredericksen says in a recent appeal for donations that the company is in a “battle for survival.”
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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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