News & Analysis

IPS says outside audits confirm budget surplus

June 10, 2014
J.K. Wall
Two outside financial audits confirmed what Indianapolis Public Schools Superintendent Lewis Ferebee declared in March: IPS has been operating with a surplus rather than a deficit.
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Former CEO sentenced for federal tax evasion

June 10, 2014
 IBJ Staff
Joseph C. Scott, 54, the former CEO at KSM Profit Advisors LLC, was convicted of underreporting his income taxes from 2005 to 2009, resulting in unpaid taxes of nearly $600,000.
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Court: School districts can't charge for bus rides

June 10, 2014
 The Statehouse File
The Indiana Court of Appeals says a Marion County school district acted unconstitutionally when it indirectly charged fees for students to ride buses to school.
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Radio personality Vaughn files suit against WTLC parent

June 10, 2014
Mason King
Kelly Vaughn alleges in a federal discrimination lawsuit that Radio One showed preferential treatment to male co-worker Amos Brown by firing her but retaining him after they worked on an outside project.
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Ponzi scheme leader gets 10 years in prison

June 10, 2014
 IBJ Staff
Rudolf "Rudi" Pameijer, a former Johnson County insurance agent who pleaded guilty to scamming $1.8 million from two dozen investors, was sentenced Monday to 18 years in prison, with eight of those years suspended.
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Calumet acquires $25M stake in Louisiana plant

June 10, 2014
 IBJ Staff
Calumet Specialty Products Partners LP plans to spend $25 million acquiring a 22-percent stake in a gas-to-liquids plant in Louisiana.
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YMCA set to break ground on $22M CityWay project

June 10, 2014
Scott Olson
The not-for-profit is expected to begin construction on the three-story, 87,000-square-foot downtown facility July 16, with a completion date of December 2015.
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Southwest Ohio gamblers spending less in Indiana

June 10, 2014
Associated Press
An analysis found that gamblers for the first time are spending more at the Cincinnati casino and two racinos in the region than in neighboring southeast Indiana.
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NCAA ex-athlete backs unpaid Little Leaguers in TV money trial

June 9, 2014
Bloomberg News
The outcome will determine whether the NCAA, which treats student-athletes as amateurs, has to stop barring them from negotiating their own deals in games that are broadcast.
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Audit: Nearly 275 in Indiana await first VA visit

June 9, 2014
Associated Press
Auditors found that the agency's complicated appointment process created confusion among schedulers and supervisors, and that a 14-day goal for seeing first-time patients was unattainable.
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NCAA reaches $20M settlement of video game claims

June 9, 2014
Associated Press
The agreement was announced hours before the NCAA went to federal court in California to defend itself against a class-action lawsuit from former players over use of their images in broadcasts and video games.
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Wellfount takes $16M and runs with it

June 9, 2014
J.K. Wall
The long-term-care pharmacy company, which puts Redbox-style vending machines in nursing homes, thinks a fresh infusion of cash will allow it to double revenue this year and become self-sustaining.
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Coalition fights Ballard plan to shake up curbside recycling

June 9, 2014
Kathleen McLaughlin
Incinerator operator Covanta is close to announcing a proposal to build a $40 million material recovery facility in Indianapolis. Recycling industry leaders oppose the plan.
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High-stakes NCAA amateurism trial gets under way

June 9, 2014
Bloomberg News
The case, brought by former UCLA basketball star Ed O'Bannon, could determine whether the NCAA has to negotiate with players seeking to be paid for appearing in televised games without forfeiting scholarships.
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Lab software firm raises $8.5M, names new CEO

June 9, 2014
Dan Human
A San Diego venture capital firm has made a big bet on Indigo BioSystems Inc., which just installed its founder as the new chief executive.
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Doctors want to improve state drug-tracking system

June 9, 2014
Associated Press
A study has found that most doctors in Indiana aren't frequently using an electronic system designed to detect prescription drug abuse.
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Judge asked to reconsider vanity plate ruling

June 9, 2014
Associated Press
BMV Commissioner Don Snemis said the judge's order would force the agency to issue personalized plates with offensive references to race, religion or sexual orientation.
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Improving jobs numbers mask painful recovery

June 9, 2014
Associated Press analysis
The U.S. economy has finally regained the jobs lost to the Great Recession, but a smaller percentage of Americans are actually working and median household income has declined considerably since before the recession.
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Lilly consolidated into testosterone drug lawsuit

June 9, 2014
Bloomberg News
The decision to collect cases before one court comes after the U.S. Food and Drug Administration said it will re-examine the safety of testosterone-replacement drugs after studies showed the medicine posed an increased risk of heart attack and stroke.
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Indiana tourism trade group adopts new name

June 9, 2014
Associated Press
The Association of Indiana Convention and Visitors Bureaus will now be called the Indiana Tourism Association.
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Mourdock compares U.S. economic woes to Nazi Germany

June 8, 2014
Associated Press
In a speech, Mourdock cautioned GOP members to be wary of politicians who promise entitlements and spending as debt grows. He said the Nazis made the same promises to Germans before that country's 1936 elections.
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School catering to juvenile offenders gets approval

June 7, 2014
Associated Press
The city will be the first in the nation to open a charter school designed for youth passing through the juvenile court system and other troubled students.
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Tiny Sheridan girds for inevitable growth

June 7, 2014
Andrea Muirragui Davis
The tiny Hamilton County community is mindful of sprawl in Carmel and Fishers, and is determined to absorb growth on its own terms.
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Fishers OKs tax break for medical building

June 7, 2014
Andrea Muirragui Davis
Cornerstone Cos. plans to locate the $11 million project near Interstate 69.
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ExactTarget execs: Expect smooth transition

June 7, 2014
Dan Human
Outgoing CEO Scott Dorsey wants to spend time with his four daughters, focus on mentoring young entrepreneurs, and maybe travel a little for leisure. His successor, longtime executive Scott McCorkle, plans to keep the company focused on email, even as the firm adds a broader suite of digital marketing services.
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