News & Analysis

Local developer seeks bankruptcy protection

April 29, 2011
Scott Olson
Platinum Properties LLC, an Indianapolis upscale residential real estate developer, sought Chapter 11 protection on Monday, listing several huge debts to prominent local businesses and business people.
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Industrial support for utility sale to cost $1.5 million

April 29, 2011
 IBJ Staff
The price to get big industrial firms like Eli Lilly and Co., National Starch and Rolls-Royce Corp. to support the sale of the city’s water and sewer utilities to Citizens Energy Group is at least $1.5 million.
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INSIDE DISH: 'Diners' TV spot boon and bane for Jersey's Cafe

April 29, 2011
Mason King
Dish_Jersey_watch_videoAfter a massive spike in traffic sparked by a Food Network show, owner Blair Laing must deal with food shortages, employee departures and long waits for patrons.
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Simon Property results improve as store rents climb

April 29, 2011
Bloomberg News
Simon Property Group Inc., the largest U.S. shopping-mall owner, said funds from operations rose 75 percent in the first quarter as retail sales climbed.
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Brightpoint's earnings surge on smartphone sales

April 28, 2011
Associated Press
Brightpoint Inc., a distributor of wireless phones, said Thursday that its earnings increased more than sixfold as the growing demand for smartphones meant that more higher-priced devices passed through Brightpoint's facilities.
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New Indiana congressional districts clear Legislature

April 28, 2011
Associated Press
The Indiana House voted 62-31 mostly along party lines Thursday to give final legislative approval to the redistricting plan and send it to Republican Gov. Mitch Daniels, who is expected to sign it.
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Indiana budget deal includes Daniels-backed refund

April 28, 2011
Associated Press
Indiana lawmakers are set to vote Friday on a new $28 billion state budget that would give slight funding increases to schools without raising taxes, leave the state with more than $1 billion in reserves and give taxpayers refunds if the state takes in more money than it needs.
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Compromise emerges on Indiana immigration bill

April 28, 2011
Associated Press
The state senator who said Indiana should crack down on illegal immigration says a compromise includes the potential loss of state tax benefits for businesses hiring illegal immigrants.
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UPDATE: Skjodt-Barrett Foods bringing 300 jobs to Lebanon

April 28, 2011
Anthony Schoettle
The newest tenant in Lebanon Business Park will occupy 214,000 square feet and make a $20 million investment to build out the space and install equipment.
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Sports auction firm visits Indy seeking ABA, Clowns items

April 28, 2011
Anthony Schoettle
New York-based Clean Sweep Auctions plans to hold an "Antiques Roadshow"-like event in Indianapolis this week, offering local residents free valuation of sports memorabilia.
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Duke Realty reports strong quarterly results

April 28, 2011
Scott Olson
The Indianapolis-based real estate investment trust reported a first-quarter profit of $47.6 million compared with a loss of $15.3 million in the same quarter a year earlier. Gains from the sale of properties helped drive profit.
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Dow AgroSciences reports record revenue

April 28, 2011
 IBJ Staff
Indianapolis-based Dow AgroSciences on Thursday reported sales of $1.6 billion in its first quarter, up 17 percent from the same period last year due to higher volume and increased prices.
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Cultural Trail unveils garage's million-dollar art installment

April 28, 2011
Anthony Schoettle
The latest piece of art to be installed along downtown Indianapolis’ Cultural Trail will cost almost as much as the first eight displays combined.
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Angie’s List CEO says IPO possible in 2011

April 27, 2011
 IBJ Staff and Bloomberg News
Angie’s List Inc., a web service that provides consumer reviews to 1.5 million members, may decide to opt for an initial public offering as early as this year, CEO Bill Oesterle said.
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Indiana Legislature OKs redistricting proposal

April 27, 2011
Associated Press
Maps for new Indiana legislative election districts have gained final approval from the General Assembly and go to Gov. Mitch Daniels for consideration.
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Indiana poised to cut Planned Parenthood funding

April 27, 2011
Associated Press
The Indiana House voted 66-32 Wednesday to approve a bill cutting the $3 million in federal money the state distributes to the organization for family planning and health programs. The Senate approved the measure earlier this month.
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Key Indiana lawmakers optimistic about budget deal

April 27, 2011
Associated Press
Legislative leaders think they are on track to reach a budget deal by the time the legislative session ends Friday.
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Nation's broadest voucher plan passes final hurdle

April 27, 2011
Associated Press
The Indiana House voted 55-43 to give final approval to a bill creating the controversial voucher program. It would allow even middle-class families to use taxpayer money to send their children to private schools.
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Indiana lawmakers OK bill to expand charter schools

April 27, 2011
Associated Press
A bill aimed at spurring more charter schools in Indiana has cleared its final legislative hurdle, marking another piece of Gov. Mitch Daniels' aggressive education agenda to pass.
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Butler hires Villanova dean as its new president

April 27, 2011
J.K. Wall
Jim Danko, who became an entrepreneur at 19 and went on to become a business school administrator, will be the next president of Butler University.
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Local architectural firm Woollen Molzan disbands

April 27, 2011
Scott Olson
The venerable Indianapolis architectural firm that designed many of the city's most recognizable buildings—including the Minton-Capehart Federal Building—has closed and two of its leaders have joined a local competitor.
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WellPoint profit continues health insurance rally

April 27, 2011
J.K. Wall
Indianapolis-based WellPoint Inc. is the third health insurer in the past week to beat analysts' predictions by a huge margin and raise its full-year forecast.
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Bell Industries turns annual profit

April 27, 2011
The holding company for Bell Techlogix and the Recreational Products Group earned a profit of $300,000 in 2010 after losing $1.9 million the previous year.
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Rolls-Royce, union strike deal as competition looms

April 27, 2011
Kathleen McLaughlin
Competition from a new, state-of-the-art Rolls-Royce factory in Virginia drove contract talks in Indianapolis between the company and a union representing 1,700 of its workers here.
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Think hopes to boost sales through Indiana rebate

April 27, 2011
Kathleen McLaughlin
Electric car maker Think hopes to kick-start sluggish sales through a rebate program available only to Indiana residents.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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