News & Analysis

Big profits elevate ITT Educational into rare classRestricted Content

October 17, 2009
J.K. Wall
CEO Kevin Modany and his management team have become accustomed to regulatory uncertainty—and to growing the business at a pace most executives can only dream about.
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First-time buyer tax credit isn't moving pricier homesRestricted Content

October 17, 2009
Cory Schouten
The incentive has not generated a hoped-for boost in sales of homes at higher price-points. About 30 percent of the sales eligible for the tax credit are foreclosures, meaning the seller likely won’t buy another home.
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Duke Realty to unload local land holdings at auctionRestricted Content

October 17, 2009
Cory Schouten
The locally based company plans to raise millions of dollars by selling nine undeveloped tracts in Indianapolis, Fishers, Plainfield and Lebanon.
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Bloomington mayor to roll out chain-store ordinance for downtown

October 17, 2009
Kathleen McLaughlin
Bloomington Mayor Mark Kruzan believes this beloved college town loses a bit of its identity every time a national chain sets up shop.
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Sales of luxury suites slow at most Indianapolis sports venues

October 17, 2009
Anthony Schoettle
Ten years ago, the Indiana Pacers sold out their 69 Conseco Fieldhouse suites and the Indianapolis Motor Speedway barely touched a phone to sell its 120 luxury boxes. But entertaining at luxury suites is out of vogue now, thanks to the recession and companies keeping a closer eye on spending.
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Governor to merge state museum into new agency

October 16, 2009
Kathleen McLaughlin
Indiana Gov. Mitch Daniels is planning to merge the Indiana State Museum, 12 historic sites and state library under one new agency, according to sources close to the museum.
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Endocyte receives $26M infusion from investors

October 16, 2009
West Lafayette-based Endocyte Inc. announced Friday that it has closed on $26 million in equity financing to help the company continue developing cancer-fighting drugs.
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State's health IT groups seek stimulus funds

October 16, 2009
Some of Indiana's leading organizations in health information technology are collaborating on an effort to receive several million dollars of stimulus funding.
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Area building permits fall for 23rd straight month

October 16, 2009
The number of building permits issued in the nine-county Indianapolis area fell 20 percent in September from the same time last year, marking 23 consecutive months of declines.
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WNDY to broadcast 13 Butler games

October 16, 2009
 IBJ Staff
Local TV station WNDY Channel 23 announced Friday that it will broadcast 13 Butler University men's basketball games this season, starting with the Bulldogs' Nov. 21 game at the University of Evansville.
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Art museum imposes unpaid vacations to save cash

October 15, 2009
Kathleen McLaughlin
The Indianapolis Museum of Art will furlough its staff of 270 for one week this fiscal year in an effort to trim $1.4 million, or 5.5 percent, from its $25.5 million budget.
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State seeks at least $6.5M for 19-acre site

October 15, 2009
 IBJ Staff
The Indiana Finance Authority said Thursday it plans to auction off a vacant 19-acre development parcel between the White River and Fall Creek near downtown Indianapolis.
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Fishers water park developer hopeful despite setback

October 15, 2009
Scott Olson
The developer of a proposed hotel and water park in Fishers remains optimistic the project will get finished, despite the latest setback delaying the start of construction by at least two years.
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Progress stalls on national, state math scores

October 15, 2009
 IBJ Staff and Associated Press
Indiana's students outscored the national average in mathematics on the 2009 National Assessment of Educational Progress, but the results show little improvement over previous years.
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Tougher smoking ban passes committee

October 15, 2009
 IBJ Staff
An ordinance that would prohibit lighting up in bars, bowling alleys and nightclubs, and nearby outdoor seating areas as well, was endorsed 4-2 by a City-County Council committee Wednesday night.
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Planned Parenthood cuts jobs, closing health centers

October 14, 2009
Scott Olson
Planned Parenthood of Indiana has cut 25 jobs and will close six health centers around the state as part of a restructuring it attributed to a decline in federal funding.
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Dow Jones industrials close above 10,000

October 14, 2009
Associated Press
The Dow Jones industrial average is back above 10,000 for the first time in a year.
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Indiana State Museum chief Dressel abruptly resigns

October 14, 2009
Kathleen McLaughlin
Barry Dressel has resigned as the president and CEO of the Indiana State Museum, the state's Department of Natural Resources confirmed Wednesday afternoon.
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Conseco shares soar on hedge-fund investment

October 14, 2009
J.K. Wall
Shares of Carmel-based life insurer soared as much as 26 percent, to $6.30 apiece, in morning trading after New York-based Paulson & Co. agreed to buy $78 million in Conseco stock and $200 million in company bonds.
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City strengthens building-permit process

October 14, 2009
Scott Olson
The pre-permit review could add nearly three weeks to the current permitting process
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Lilly to pay Idaho $13M in drug settlement

October 14, 2009
 IBJ Staff and Associated Press
Idaho is getting $13 million as part of a settlement reached with Indianapolis-based Eli Lilly and Co. over its marketing of anti-psychotic drug Zyprexa.
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Lilly to sell Lafayette plant to German firm

October 14, 2009
J.K. Wall
Nearly 700 workers will be offered severance, new jobs
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CIB improves financial situation with more cuts

October 13, 2009
Scott Olson
The Indianapolis Capital Improvement Board's dire financial situation might be improving enough that it may forego the first installment of a $27 million state loan.
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Conseco to sell shares, bonds to shore up finances

October 13, 2009
J.K. Wall
Hedge fund will control nearly 10 percent of Carmel-based insurer.
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Survey: Manufacturers optimistic about economic recovery

October 13, 2009
Scott Olson
Indiana manufacturers, many of which have suffered major job losses, are optimistic the economy will rebound next year, according to an annual survey commissioned by Katz Sapper & Miller LLP.
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