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News & Analysis
Downtown upscale eateries cancel their lunch plans
October 30, 2009
Mason KingWhile fast food remains a favorite for value-minded patrons, several higher-end restaurants in the Mile Square and its nearby
environs have decided in the last year to pull the tablecloth out from under their lunch service.
MoreDeveloper buying Fountain Square building; museum lined up as tenant
October 30, 2009
Kathleen McLaughlinArchitect and developer Craig Von Deylen hopes to close by next week on the purchase of the Murphy Arts Center in Fountain
Square and is in the process of signing new tenants, including the Indianapolis Museum of Contemporary Art.
MoreState rejects high bid for 19-acre parcel near downtown
October 30, 2009
Cory SchoutenThe 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.
MoreCummins reports plunge in profit, revenue
October 30, 2009
IBJ StaffCummins 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.
MoreSimon reports slight improvement in quarterly results
October 30, 2009
Cory SchoutenSimon 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.
MoreNCAA approves $35M addition to Indianapolis headquarters
October 29, 2009
IBJ Staff and Associated PressThe NCAA executive committee on Thursday approved a $35 million addition to the governing body's headquarters in White River
State Park in Indianapolis.
MoreLilly opens new biotech center in San Diego
October 29, 2009
J.K. WallLilly is opening the San Diego biotech center a year after launching a biotech R&D center in Indianapolis.
MoreHoosier Park owner misses $13.4M loan payment
October 29, 2009
Peter SchnitzlerIndianapolis-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.
MoreDuke Realty reports massive third-quarter loss
October 29, 2009
Cory SchoutenBig write-downs on raw land and projects under development led to a wide third-quarter loss for Duke Realty Corp.
MoreQuarterly profit, revenue soar at Baldwin & Lyons
October 29, 2009
IBJ StaffBaldwin & Lyons Inc. on Thursday morning reported a record third-quarter profit, thanks to big investment gains and an increase
in premiums.
MoreCeladon profit, revenue slides; shares to be listed on NYSE
October 28, 2009
IBJ StaffIndianapolis-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.
MoreGM to draw government funds for Delphi costs, source says
October 28, 2009
Associated PressGeneral 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.
MoreGrill maker to locate HQ in Indiana, hire 300
October 28, 2009
IBJ StaffWaterloo, 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.
MoreWellPoint shares flat after profits beat analyst predictions
October 28, 2009
J.K. WallWellPoint Inc.'s third-quarter profits soared above analysts' expectations, but the insurer remains cautious in the face of
the flu and high unemployment.
MoreCenter Township seeks redevelopment bids for former YMCA
October 28, 2009
Cory SchoutenThe 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.
MoreKing Systems, Steel Dynamics fined over safety violations
October 28, 2009
Cory SchoutenThe 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.
MoreNew IT firm to create 400 jobs in Kokomo
October 28, 2009
IBJ StaffZuna Infotech will locate in Kokomo's Inventrek Technology Park, a high-tech business incubator and state-certified technology
park.
MoreDoctors balk at Senate attempt to cut waste
October 28, 2009
J.K. WallSome 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.
MoreWellPoint's third-quarter profits beat expectations
October 28, 2009
J.K. WallWellPoint Inc.'s third-quarter profits fell 11 percent, the company reported this morning, but still soared above analysts'
expectations.
MoreConcrete firm agrees to pay $29M in price-fixing case
October 27, 2009
IBJ Staff and Associated PressA 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.
MoreIndiana lands $39.4M in power-grid stimulus grants
October 27, 2009
IBJ Staff and Associated PressIPL 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.
MoreSmoking-ban backers, opponents vow to keep battling
October 27, 2009
Brock BenefielSupporters 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.
MoreChallenges remain for Emmis despite NASDAQ save
October 27, 2009
IBJ StaffShares 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.
MoreWith airport hotel stalled, Hendricks County makes its move
October 27, 2009
Cory SchoutenHendricks 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.
MoreRevenue, profit on rise for Interactive Intelligence
October 26, 2009
IBJ StaffIndianapolis-based business software firm Interactive Intelligence on Monday reported higher third-quarter profit on
record revenue of $33.2 million.
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Can IBJ please stop referring to this property as "Kessler Mansion"? What a ridiculous title for the biggest, bloated, blight in our city. It's not a mansion. At best, it's an ideal site to shoot low-budget porn. Ahhh! Another business use!
Its stories like these that prove that a Ball State diploma is worth less than the paper that its printed on. A real institution of higher learning would have taken care of this long ago. No way should this crap be taught in a SCIENCE class.
It is such a shame that King Ballard has made Indianapolis into Chicago south with all of the rampant corruption.
How many of these 1,259 bills were actually heard and voted on on the floor vs how many were shot down in committee?
When a an arrogant young guy with essentially no experience and no qualifications for the job, was dropped into an Administrator position out of nowhere by his "mentor" in the Mayor's office things seemed fishy. Sometimes things are what they seem.