News & Analysis

Camaro to pace Indianapolis 500 again

December 18, 2009
Anthony Schoettle
The 2010 Chevrolet Camaro SS will be the official pace car for next May's Indianapolis 500. It'll be the sixth time a Camaro has paced the race.
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Building trades leaders flock to Wishard meetings

December 18, 2009
 IBJ Staff
Hundreds of potential contractors turned out for informational meetings this week about construction work on a new Wishard Memorial Hospital.
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Indiana's unemployment rate slips to 9.6 percent

December 18, 2009
Scott Olson
Indiana's unemployment rate ticked downward in November, falling to 9.6 percent, the Indiana Department of Workforce Development said Friday morning.
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Hoosier biz groups oppose Senate health bill

December 18, 2009
J.K. Wall
Group presidents tell Indiana senators that the reform bill would expand dysfunctions of current health care systems.
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General Growth says it will consider acquisition offers

December 18, 2009
 IBJ Staff and Associated Press
General Growth Properties, the Chicago mall owner that Indianapolis-based Simon Property Group Inc. is interested in buying, said the company will consider all offers and may sell shares to the public to raise capital.
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City ready to award new golf contracts

December 18, 2009
Kathleen McLaughlin
Indianapolis Mayor Greg Ballard's administration has chosen five local contractors to run 12 municipal golf courses for the next 10 years, and expects to get $6.3 million in capital improvements out of the deal.
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UPDATE: Airport OKs $325,000 in 'betterment' projects

December 18, 2009
Chris O'Malley
Indianapolis' new $1.1 billion airport terminal faces at least two nagging functionality issues: inadequate protection during inclement weather at the second-level passenger drop-off platform and sunlight that floods the ticket lobby, making computer screens hard to read.
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Atlanta dates set for former Indy tennis event

December 17, 2009
 IBJ Staff and Associated Press
As first reported by IBJ on Nov. 28, the men's tennis event that is leaving Indianapolis is heading to Atlanta, the ATP confirmed.
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Newspapers seek to unseal Durham search warrants

December 17, 2009
Greg Andrews
Daily newspapers on Thursday filed a motion seeking to unseal search warrant documents related to the federal investigation of Indianapolis businessman Tim Durham and Akron, Ohio-based Fair Finance Co.
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New CIB membership nearly set

December 17, 2009
Scott Olson
Marion County Commissioners reappointed Doug Brown on Thursday morning to the Indianapolis Capital Improvement Board, leaving only one seat open on the nine-member panel whose financial troubles this year have elevated its profile.
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Brightpoint pays $31M for distribution facility

December 17, 2009
Cory Schouten
Locally based Brightpoint Inc. has closed on a $31 million deal to purchase its 495,000-square-foot distribution facility in Plainfield.
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Conseco shoots for $222M in stock offering

December 17, 2009
 IBJ Staff and Associated Press
The company plans to use at least $150 million to repay debt under its senior credit agreement. The remaining proceeds will be used for general corporate purposes.
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Local funeral home operator interested in troubled Memory Gardens

December 16, 2009
Scott Olson
Indianapolis-based Wilson St. Pierre Funeral Service & Crematory is one of two companies that have emerged as potential suitors of the embattled Memory Gardens Management Corp.
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New BioCrossroads venture fund raises $58 million

December 16, 2009
Peter Schnitzler
The new INext fund is the successor to the $73 million Indiana Future Fund, which the life science initiative raised in 2003.
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Senate rejects drug-importation proposal

December 16, 2009
 IBJ Staff and Associated Press
The U.S. Senate voted down a plan Tuesday to allow Americans to import prescriptions from abroad, handing drug makers such as Indianapolis-based Eli Lilly and Co. a victory.
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Cummins engine business president stepping down

December 16, 2009
 IBJ Staff and Associated Press
Engine maker Cummins Inc. said the head of its engine business is leaving his role in March to pursue other projects at the company. Jim Kelly joined the company in 1976 and was promoted to president of the engine business in 2005.
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Big Ten Conference ready to explore expansion

December 15, 2009
 IBJ Staff and Associated Press
According to a statement released Tuesday afternoon, the Big Ten Council of Presidents/Chancellors "believes that the timing is right for the conference to once again conduct a thorough evaluation of options for conference structure and expansion."
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New president elected for Indiana AFL-CIO

December 15, 2009
Associated Press
Nancy Guyott is the first woman to be president of the Indiana AFL-CIO.
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Speedway slashes schedule of May activities

December 15, 2009
Anthony Schoettle
Belt tightening for the Indianapolis Motor Speedway and Indy Racing League continues with the much-anticipated announcement that the Brickyard's "month of May" activities will be shortened in 2010.
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UPDATE: Steak n Shake plan makes 'perfect sense' to investment pro

December 15, 2009
Scott Olson, Cory Schouten
The Steak n Shake Co.’s unusual plan to initiate a reverse stock split has the support of at least one local investment adviser, if in fact the company’s CEO is attempting to model it after Warren Buffett’s holding company, Berkshire Hathaway.
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IT firm officially announces plans to create 200 jobs

December 15, 2009
Scott Olson
Executives from BC Forward, Indianapolis’ largest computer consulting firm, said Tuesday the company will get even bigger, with the addition of 200 jobs by 2012.
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Binford group plots next steps in retail revival

December 15, 2009
Tom Harton
The commercial area at 71st Street and Binford Boulevard is recovering from its funk, but a true transformation hinges on implementing a master plan.
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Hurco posts quarterly, yearly losses

December 15, 2009
The company attributed its losses to the ongoing global recession and the credit crunch that has made it difficult for businesses to obtain financing to purchase Hurco's products.
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Steak n Shake plans 20-1 reverse stock split

December 15, 2009
Cory Schouten
The Steak n Shake Co., in an unusual gambit, plans to initiate a reverse stock split that would reduce its number of shares outstanding from almost 29 million to just 1.4 million and boost its per-share price from roughly $12 to $240.
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$60M Lilly Endowment grant to fund IU physician research

December 15, 2009
Peter Schnitzler
Indiana University, which has received nearly $600 million from the endowment over the last three decades, will leverage the new gift to increase its scientific discoveries and commercialize life science innovations.
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