News & Analysis

Arts funding maintained in city budget proposal

August 31, 2009
Scott Olson
The Indianapolis arts community is breathing a collective sigh of relief after learning that the city is not expected to reduce its funding in 2010. The City-County Council will hear public comments tonight on Mayor Greg Ballard’s 2010 budget before voting on it Sept. 21.
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Conseco consolidation to save $2.5M a year

August 31, 2009
 IBJ Staff
Conseco Inc. this morning said it is consolidating three of its insurers into one, a move that will have no impact on employment but will save the company about $2.5 million annually.
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Fitch strips Indianapolis of prized AAA bond rating

August 29, 2009
Peter Schnitzler
Fitch and other rating agencies are concerned that the phase-in of property tax caps will further strain the city's finances.
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ICVA: Stadium's retractable roof worth the cost

August 29, 2009
Anthony Schoettle
Three music events with direct visitor spending estimated at $28 million that were hosted at Lucas Oil Stadium offer proof, city officials said, that the expense of the retractable roof and other features of the $720 million facility are paying off.
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Economy pushes executives into small firms

August 29, 2009
Peter Schnitzler
In the recession, folks with former big-company careers are increasingly taking jobs with small businesses. For some downsized executives, it’s about the desperate need for a paycheck. Others, who felt impotent and pigeonholed in corporations, discover they prefer the challenge of entrepreneurship.
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HHGregg, other retailers await stimulus joltRestricted Content

August 29, 2009
Cory Schouten
Appliance retailers are poised to take a page from the car dealership playbook in promoting a new government program offering rebates on energy-efficient washers, refrigerators and air conditioners.
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Firms hiring Twitter czars to push into social networksRestricted Content

August 29, 2009
Christina Galoozis
Companies are beginning to hire Twitter experts to stay in touch with customers. But the positions require a light touch, and their effectiveness is difficult to gauge.
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Shelbyville struggles to reach tech park goalsRestricted Content

August 29, 2009
Kathleen McLaughlin
Despite recent investment by Major Health Partners, Shelbyville’s technology park is about as far from meeting state standards as it was two years ago.
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Noble Roman's wins latest round in fight with franchiseesRestricted Content

August 29, 2009
Cory Schouten
A group of former franchisees of Noble Roman’s Inc. has hired a new attorney to represent them in a case against the chain after a Hamilton County judge tossed their old lawyer.
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Bloomington's Kilroy's opening downtown Indianapolis outpost

August 29, 2009
Cory Schouten
Restaurateur Paul Murzyn has signed a lease for the 8,700-square-foot, first-floor space at 201 S. Meridian St., a historic building with luxury condos upstairs.
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MainGate Inc. racks up revenue with NFL deals

August 29, 2009
Anthony Schoettle
When Brett Favre signed with the Minnesota Vikings Aug. 18, cheers could be heard at MainGate Inc.’s 7900 Rockville Road headquarters. Predictably, Favre jerseys went flying off the shelves—about 6,000 in the first 72 hours—and MainGate gets to keep a portion of those sales. The Vikings are one of six teams the Indianapolis-based merchandising specialist has signed deals with in 2-1/2 years, making MainGate one of the biggest retail players in the goliath of professional sports leagues.
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MZD to market volleyball sponsorshipsRestricted Content

August 29, 2009
Locally based MZD Advertising has signed a contract to market sponsorships and a trade show for the Mizuno Volleyball Mid East Qualifier, to be held in 2010 in Indianapolis and St. Louis.
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Local high-end home sales in deep slump

August 28, 2009
Scott Olson
Sales of higher-priced homes nationally have slowed to a glacial pace. In the Indianapolis area, the supply of homes for sale above $1 million has risen from three year’s worth in 2007 to more than eight year’s worth, according to the Metropolitan Indianapolis Board of Realtors.
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State education officials urge greater emphasis on two-year degrees

August 28, 2009
J.K. Wall
Only one in 12 Hoosiers has an associate’s degree. That’s a big problem because nearly half of all jobs expected to be offered in the next decade and beyond will be middle-skill jobs—which require at least some post-secondary credential, like an associate’s degree, but not a four-year bachelor’s degree.
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Saturday Evening Post looks to its past in effort to spark revivalRestricted Content

August 28, 2009
Kim Puckett
The Indianapolis-based magazine, which publishes every other month, launched a redesign in July reminiscent of its glory days, with a retro masthead, narrative cover art and fiction writing.
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Humane Society eyes city for $3M clinic

August 27, 2009
Kathleen McLaughlin
The Humane Society of Indianapolis is shopping for donors to support construction of a $3 million spay/neuter clinic in the Fountain Square area.
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Steak n Shake chief snaps up more shares

August 27, 2009
Cory Schouten
Steak n Shake Co. CEO Sardar Biglari revealed in regulatory filings this week that he spent $1.1 million buying shares in the locally based burger chain, an apparent vote of confidence in his own turnaround plans.
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Shoe Carnival's profit flat in second quarter

August 27, 2009
 IBJ Staff
Evansville-based Shoe Carnival Inc. today reported flat profit and declining same-stores sales in its fiscal second quarter.
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Ivy Tech saving facade for classroom building

August 27, 2009
Cory Schouten
Ivy Tech Community College plans to save the facade of a historic former hospital along Fall Creek Parkway and build a new 150,000-square-foot academic building behind it.
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Radio veteran Morgan jumps to Emmis from IMS

August 26, 2009
Anthony Schoettle
Long-time radio veteran Charlie Morgan is leaving his post heading up broadcasting for Indianapolis Motor Speedway and Indy Racing League to lead Emmis Communications Corp. radio stations in Indianapolis.
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Kokomo plants benefit from 'clunkers' program

August 26, 2009
The federal government’s popular Cash for Clunkers program that ended Monday gave a boost to Kokomo’s Chrysler plants.
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Star union approves new 2-year contract

August 25, 2009
 IBJ Staff
The Indianapolis Newspaper Guild voted 56-45 today to ratify a new, two-year contract with the Gannett Co.-owned Indianapolis Star that includes a 10-percent pay cut and two-year wage freeze.
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EPA proposes $1.1M settlement with Vertellus

August 25, 2009
Kathleen McLaughlin
Chemical-maker Vertellus Specialties Inc. will spend up to $1.1 million and change air-emission monitoring practices at its plant on the southwest side of Indianapolis under a proposed settlement with the U.S. Environmental Protection Agency.
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Star union voting on new contract

August 25, 2009
Scott Olson
The Indianapolis Newspaper Guild plans to vote this afternoon on a new, two-year contract with the Gannett Co.-owned Indianapolis Star that includes a 10-percent pay cut and two-year wage freeze.
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Cummins moving some operations to Mexico

August 25, 2009
 IBJ Staff
A filtration division of Columbus-based Cummins Inc. will move a large portion of its North American assembly operations to a plant in Mexico to keep the business competitive, the company said today.
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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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