News & Analysis

Cumulus Media to buy out radio partners for $740M

February 1, 2011
 IBJ Staff
Atlanta-based Cumulus Media Inc. said late Monday it has agreed to acquire its partners' interest in a venture that owns 32 radio stations in nine cities, including three in Indianapolis. No local changes are expected.
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Integra Bank's auditor says situation may be dire

February 1, 2011
 IBJ Staff
Monday’s announcement is the latest ominous news for Integra, which is at risk of becoming the second Hoosier financial institution to fail since the financial crisis began in 2008.
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Cummins reports record quarterly sales, profit

February 1, 2011
Sales for the fourth quarter were $4.1 billion, up 22 percent from the same period in 2009. Quarterly profit of $362 million, or $1.84 per share, exceeded analyst expectations.
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Indiana House, Senate cancel work due to ice storm

February 1, 2011
Associated Press
The Indiana House and Senate have cancelled plans to work Tuesday because of the ice storm that's sweeping across central Indiana.
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Rolls-Royce wins a pair of military contracts

February 1, 2011
 IBJ Staff
Indianapolis manufacturer lines up deals with the Navy and Air Force worth a total of $225 million.
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House passes measure fixing unemployment fund

January 31, 2011
Associated Press
The Indiana House approved a bill Monday to help fix the state's bankrupt unemployment insurance fund by reducing jobless benefits for some people and softening tax increases on businesses.
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St. Louis firm pursuing local retail, industrial properties

January 31, 2011
Tom Harton
Bianco Properties has purchased its fourth Indianapolis property in less than five years and is pursuing more deals here.
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Indiana House OKs smoking ban with bars exempted

January 31, 2011
Associated Press
The Republican-led House voted 68-31 Monday to approve the bill, which now moves to the GOP-controlled Senate for consideration.
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Florida judge strikes down health care overhaul

January 31, 2011
Associated Press
A federal judge ruled Monday that the Obama administration's health care overhaul is unconstitutional, siding with 26 states, including Indiana, that sued to block it.
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Candy Dynamics expands Nuclear Sludge recall

January 31, 2011
 IBJ Staff
Carmel-based Candy Dynamics has expanded a voluntary recall of its Toxic Waste brand Nuclear Sludge products because they may contain too much lead.
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Florida marketing firm suing IRL over Izod contract

January 31, 2011
Scott Olson
Florida-based CV Sports Marketing Inc. alleges in a lawsuit that the IRL and Indianapolis Motor Speedway could owe millions of dollars in fees relating to its role in landing Izod as a title sponsor.
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Former Sen. Bayh joining Washington, D.C., law firm

January 31, 2011
Associated Press
The firm of McGuireWoods announced Monday that former Sen. Evan Bayh would be a partner and strategic advisor to domestic and international clients on public policy matters.
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Execs from WellPoint, peers meet to hone health-law lobby

January 31, 2011
Bloomberg News
Top executives from WellPoint Inc. and UnitedHealth Group Inc. are meeting almost monthly with their counterparts from Aetna Inc., Cigna Corp. and Humana Inc. in an informal lobbying alliance aimed at blunting parts of the health-care law, say sources with knowledge of the sessions.
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Ball State touted for research even as funding drops

January 30, 2011
Associated Press
The Carnegie Foundation for the Advancement of Teaching has classified Ball State as a "high research university" for the first time, elevating it to a status shared in Indiana only by Indiana University-Purdue University Indianapolis.
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English-language bill advancing despite questions

January 30, 2011
Associated Press
An Indiana proposal to require that state documents be issued only in English is raising philosophical and practical questions from lawmakers trying to navigate the tricky territory of immigration politics.
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Coupon site targets lunch-pail crowd

January 29, 2011
Cory Schouten
Robert Baer and Joel Curts spent five months and almost $15,000—mostly on programming their own coupon platform—to launch DailyLunchDeal.com, a coupon site focused solely on dining.
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Fix-up list is long as Indianapolis prepares for 2012 Super Bowl

January 29, 2011
Chris O'Malley
Plenty of opportunities await city officials bent on making downtown shine for the massive event.
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Molecules are moneymakers for software firm Indigo BioSystemsRestricted Content

January 29, 2011
Chris O'Malley
Eli Lilly and Co. spin-off has landed new private investment and may double its work force this year.
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Bill would force owners of electric cars to pay feeRestricted Content

January 29, 2011
Chris O'Malley
Special charge would help offset lost gas-tax revenue.
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Measure would allow photo radar cameras in school and construction zonesRestricted Content

January 29, 2011
Chris O'Malley
Legislature considering use of same technology used to nab those who disregard traffic signals.
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Mattel may build Hot Wheels track at IMSRestricted Content

January 29, 2011
Anthony Schoettle
IndyCar Series and Indianapolis Motor Speedway officials are working on a deal with California-based Mattel Inc. to build a life-size Hot Wheels track in the Speedway’s infield in conjunction with the centennial running of the Indianapolis 500 this May.
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Firms put off paying, despite easing financial pressure

January 29, 2011
Norm Heikens
The trend toward small businesses' delaying payments appears to have leveled off, but it's still unclear how soon—or even whether—receivables will return to the 30 days that was standard for most businesses before the recession began in December 2007.
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Mini Thin marketer slapped with suitRestricted Content

January 29, 2011
Kathleen McLaughlin
A Carmel man whose Mini Thin dietary supplement was sold through convenience stores nationwide before the government banned its active ingredient now faces allegations of bankruptcy fraud.
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Charter school's nimble approach could become the norm

January 29, 2011
Francesca Jarosz, J.K. Wall
Indianapolis Metropolitan High School implemented a school-wide overhaul in its educational approach in only three months. The charter school might be the face of the future for all Indiana public schools.
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Judges to hear challenge to state’s alcohol permit process

January 28, 2011
Scott Olson
A panel of Indiana Court of Appeals judges on Monday will consider a complaint from the Indiana Association of Beverage Retailers, which insists too many competing drugstores are receiving beer permits.
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  1. Once a Marion Co. commuter tax is established, I'm moving my organization out of Indianapolis. Face it, with the advancement in technology, it's getting more cost effective to have people work out of their homes. The clock is running out on the need for much of the office space in Indianapolis. Establishing a commuter tax will only advance the hands of the clock and the residents of Indianapolis will be left to clean up the mess they created on their own, with much less resources.

  2. The 2013 YE financial indicates the City of Indianapolis has over $2 B in assets and net position of $362.7 M. All of these assets have been created and funded by taxpayers. In 2013 they took in $806 M in revenues. Again, all from tax payers. Think about this, Indianapolis takes in $800 M per year and they do not have enough money? The premise that government needs more money for services is false.

  3. As I understand it, the idea is to offer police to live in high risk areas in exchange for a housing benefit/subsidy of some kind. This fact means there is a choice for the officer(s) to take the offer and receive the benefit. In terms of mandating living in a community, it is entirely reasonable for employers to mandate public safety officials live in their community. Again, the public safety official has a choice, to live in the area or to take another job.

  4. The free market will seek its own level. If Employers cannot hire a retain good employees in Marion Co they will leave and set up shop in adjacent county. Marion Co already suffers from businesses leaving I would think this would encourage more of the same.

  5. We gotta stop this Senior crime. Perhaps long jail terms for these old boozers is in order. There are times these days (more rather than less) when this state makes me sick.

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