News & Analysis

State rejects high bid for 19-acre parcel near downtown

October 30, 2009
Cory Schouten
The Indiana Finance Authority declined to sell a 19-acre development parcel between the White River and Fall Creek near downtown Indianapolis after it received only two bids at an auction Thursday.
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Cummins reports plunge in profit, revenue

October 30, 2009
 IBJ Staff
Cummins Inc. said profit for its fiscal third quarter fell 59 percent and sales dropped by 31 percent compared to the same period last year, though the company said its profitability and cash position improved from the second quarter.
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Simon reports slight improvement in quarterly results

October 30, 2009
Cory Schouten
Simon Property Group Inc. reported slightly higher funds from operation for its fiscal third quarter, but FFO fell on a per-share basis thanks to the company's issuance of more than 50 million new shares so far this year.
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NCAA approves $35M addition to Indianapolis headquarters

October 29, 2009
 IBJ Staff and Associated Press
The NCAA executive committee on Thursday approved a $35 million addition to the governing body's headquarters in White River State Park in Indianapolis.
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Lilly opens new biotech center in San Diego

October 29, 2009
J.K. Wall
Lilly is opening the San Diego biotech center a year after launching a biotech R&D center in Indianapolis.
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Hoosier Park owner misses $13.4M loan payment

October 29, 2009
Peter Schnitzler
Indianapolis-based Centaur LLC, owner of Anderson's Hoosier Park horse track and casino, missed a $13.4 million interest payment due Tuesday on its more than $400 million in outstanding debt, putting the company in default with its lenders.
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Duke Realty reports massive third-quarter loss

October 29, 2009
Cory Schouten
Big write-downs on raw land and projects under development led to a wide third-quarter loss for Duke Realty Corp.
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Quarterly profit, revenue soar at Baldwin & Lyons

October 29, 2009
 IBJ Staff
Baldwin & Lyons Inc. on Thursday morning reported a record third-quarter profit, thanks to big investment gains and an increase in premiums.
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Celadon profit, revenue slides; shares to be listed on NYSE

October 28, 2009
 IBJ Staff
Indianapolis-based trucking company Celadon Group Inc. on Wednesday reported lower revenue and profit during its most recent fiscal quarter, and also announced plans to list its shares on the New York Stock Exchange instead of the NASDAQ starting Nov. 10.
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GM to draw government funds for Delphi costs, source says

October 28, 2009
Associated Press
General Motors Co. will announce later this week that it will draw from its government funding to pay the cost of buying a chunk of troubled parts supplier Delphi Corp., a person briefed on the company's finances said Wednesday.
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Grill maker to locate HQ in Indiana, hire 300

October 28, 2009
 IBJ Staff
Waterloo, Ontario-based Onward Manufacturing Co. Ltd. announced Wednesday afternoon that it would locate its first U.S. grill production center in northeast Indiana, creating more than 300 jobs in Huntington by 2011.
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WellPoint shares flat after profits beat analyst predictions

October 28, 2009
J.K. Wall
WellPoint Inc.'s third-quarter profits soared above analysts' expectations, but the insurer remains cautious in the face of the flu and high unemployment.
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Center Township seeks redevelopment bids for former YMCA

October 28, 2009
Cory Schouten
The owner of the vacant former Fall Creek YMCA along West 10th Street is seeking bidders interested in tearing down the building and redeveloping the prime 2-acre site.
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King Systems, Steel Dynamics fined over safety violations

October 28, 2009
Cory Schouten
The Indiana Department of Labor has slapped two Indiana companies with fines of about $200,000 each for repeated safety violations that put workers at risk.
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New IT firm to create 400 jobs in Kokomo

October 28, 2009
 IBJ Staff
Zuna Infotech will locate in Kokomo's Inventrek Technology Park, a high-tech business incubator and state-certified technology park.
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Doctors balk at Senate attempt to cut waste

October 28, 2009
J.K. Wall
Some Indianapolis-area doctors fear a bill in the U.S. Senate would botch the way costs for tests and procedures are calculated, and ultimately lead to a reimbursement system that works worse than the existing system.
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WellPoint's third-quarter profits beat expectations

October 28, 2009
J.K. Wall
WellPoint Inc.'s third-quarter profits fell 11 percent, the company reported this morning, but still soared above analysts' expectations.
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Concrete firm agrees to pay $29M in price-fixing case

October 27, 2009
 IBJ Staff and Associated Press
A lawyer says Irving Materials Inc. has agreed to pay $29 million to settle a class-action antitrust lawsuit alleging it and six other companies conspired to fix the price of ready-mixed concrete.
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Indiana lands $39.4M in power-grid stimulus grants

October 27, 2009
 IBJ Staff and Associated Press
IPL will receive $20 million to help pay for a $48.8 million project to install more than 28,000 smart meters; Midwest ISO will get $17.3 million toward a $34.5 million project to install 150 phasor measurement units.
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Smoking-ban backers, opponents vow to keep battling

October 27, 2009
Brock Benefiel
Supporters of a stricter ban on smoking in Indianapolis workplaces said the City-County Council's decision Monday night to table the proposal will not kill efforts to get legislation passed.
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Challenges remain for Emmis despite NASDAQ save

October 27, 2009
 IBJ Staff
Shares of Indianapolis-based Emmis Communications Corp. closed Monday at $1.53, the 10th straight day the stock has finished trading above $1—preserving the company's listing on the NASDAQ stock exchange, but big challenges remain for the locally based owner of radio stations and magazines.
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With airport hotel stalled, Hendricks County makes its move

October 27, 2009
Cory Schouten
Hendricks County's moves to entice a developer to build a conference hotel in Plainfield could further crimp plans for a hotel attached to the new Indianapolis International Airport terminal.
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Revenue, profit on rise for Interactive Intelligence

October 26, 2009
 IBJ Staff
Indianapolis-based business software firm Interactive Intelligence on Monday reported higher third-quarter profit on record revenue of $33.2 million.
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Council tables smoking ban

October 26, 2009
Brock Benefiel
Efforts to broaden Indianapolis' workplace smoking ban came up short Monday night as members of the City-County Council voted to table the proposal. The ordinance would have prohibited patrons from lighting up in bars, bowling alleys and nightclubs, expanding an existing law that prohibits smoking in most public places, including restaurants that serve minors.
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Lilly to move 1,000 from Faris campus

October 26, 2009
J.K. Wall
As it shrinks its work force, Indianapolis-based pharmaceutical firm Eli Lilly and Co. will move more than 1,000 employees to its corporate center by mid-2010.
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  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

  4. Send them back NOW.

  5. deport now

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