News & Analysis

Yats owners pull out of upscale bar downtown

September 9, 2010
Andrea Muirragui Davis
Two weeks after the soft launch of the long-awaited restaurant and bar on the first floor of The Ambassador apartment building downtown, Yats Restaurants has pulled out of the enterprise, leaving partner Tom Megenhardt to go it alone.
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Report: State must cut spending, hike taxes or both

September 9, 2010
Francesca Jarosz
Dwindling tax revenues will cause a projected $1.3 billion budget gap as the state enters its next budget, according a report released Thursday by the Indiana Fiscal Policy Institute.
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Area home sales still falling

September 9, 2010
Home-sale agreements in the nine-county area fell 23 percent in August. The decline marked the fourth straight month home sales have fallen in central Indiana.
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New filings for jobless benefits fall to two-month low

September 9, 2010
Associated Press
Even with latest decline, new filings for jobless benefits are still much higher than they would be if the economy is healthy.
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Fort Wayne hoping to keep some Navistar jobs

September 9, 2010
Associated Press
Fort Wayne officials say they aren't giving up hope that Navistar International Corp. will keep some jobs in the city despite the company's decision to consolidate operations in suburban Chicago.
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Emmis CEO calls off bid to take firm private

September 9, 2010
Scott Olson
Emmis Communications Corp. will remain a public company after executives announced Thursday morning that CEO Jeff Smulyan has abandoned his efforts to buy the Indianapolis-based media firm.
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Lilly investing up to $150M in VC funds

September 8, 2010
Bloomberg News
The three venture funds, which will focus on drug development, may be worth a total of $750 million, up to $250 million each, and Lilly will contribute as much as 20 percent of the money.
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Smulyan delays Emmis buyout vote again

September 8, 2010
A Wednesday evening shareholders meeting has been postponed until Thursday at 8:30 a.m., when the Emmis CEO again will try to take the company private.
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Dan Laikin sentenced to 45 months in Lampoon fraud

September 8, 2010
Greg Andrews
The sentence was short of the 60-month maximum Laikin could have received under a plea agreement worked out with federal prosecutors last fall.
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Lab used by Lilly, peers accused of animal cruelty

September 8, 2010
 IBJ Staff and Associated Press
An investigation found that lab employees kicked, threw, and dragged dogs; lifted rabbits by their ears and puppies by their throats; violently slammed cats into cages; and exposed animals to toxic chemicals.
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Auto parts workers hope vote will save jobs

September 8, 2010
Associated Press
Continental Structural Plastics said last month it would close an Ohio plant, and spend about $9 million on upgrades to a factory in Indiana where it will have up to 350 workers by 2012.
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Advocates renew push for statewide smoking ban

September 8, 2010
Francesca Jarosz
State Reps. Charlie Brown (D-Gary) and Eric Turner (R-Cicero) joined members of the Indiana Campaign for Smokefree Air on Wednesday to announce legislation for a comprehensive ban they plan to introduce next year.
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Poor economy keeping Wishard project costs down

September 8, 2010
Scott Olson
Contractors starving for work are submitting more competitive bids, which so far has led to about $10 million in savings, hospital official says.
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Local developer planning Indiana wind farm

September 8, 2010
 IBJ Staff and Associated Press
Carmel-based Performance Services Inc. plans a 25-turbine wind farm in a rural area north of Lafayette, across about 2,500 acres in northern Tippecanoe County.
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Clarian moves to scoop up Morgan

September 8, 2010
J.K. Wall
It looks like Clarian may be back to deal-making. The Indianapolis-based hospital system has signed a letter of intent to absorb Morgan Hospital and Medical Center.
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Barron's: Brighter days ahead for WellPoint

September 8, 2010
J.K. Wall
It’s been a tough year for major health insurers, but Barron’s magazine predicts a big comeback for Indianapolis-based WellPoint Inc. and its rival UnitedHealth Group.
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Q&A

September 8, 2010
J.K. Wall
Julie Klapstein is CEO of Florida-based Availity LLC, which last week announced its acquisition of Indianapolis-based RealMed Corp. The combined firms will have $100 million in annual revenue and want to work with doctors and health insurers to finally allow patients to pay their co-pays and deductible payments when they’re at the doctor’s office—not weeks later in the mail. The change could also allow doctor’s to get paid much faster for their services.
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Symphony on the Prairie sets attendance record

September 8, 2010
 IBJ Staff
Indianapolis Symphony Orchestra’s popular outdoor concert series set an attendance record this summer, surpassing the 100,000-mark for just the third time since 1982.
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Indiana panel's proposal would expand net metering

September 7, 2010
Associated Press
The draft net metering rule would boost the state's power cap for renewable power units and expand it to all customer classes served by electric utilities.
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Indiana casino commission: Staffer hid complaints

September 7, 2010
Associated Press
The commission found the misconduct after an internal review about why 56 of 154 complaints made against the casinos during 2009 had gone unanswered.
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Liquor board OKs permit for City Market beer sales

September 7, 2010
Francesca Jarosz
The Marion County Alcoholic Beverage Board voted to approve a carryout liquor license for the historic downtown site. The permit will allow the Indiana Brewers Guild to open a bar featuring local craft beers.
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Auto auction's new owner calls first event a success

September 7, 2010
Associated Press
Auctions America by RM, which bought the former Kruse Auction Park in Auburn two months ago, said more than 25,000 people attended this past weekend's event, during which sales topped $13 million.
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CEO says Lilly still not interested in huge acquisitions

September 7, 2010
 IBJ Staff and Bloomberg News
Lilly remains disinterested in making big acquisitions and aims to rely on the company’s own pipeline, CEO John Lechleiter said Tuesday, re-emphasizing a strategy he has outlined several times in the past year.
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Colts favored to win Super Bowl by Vegas oddsmakers

September 7, 2010
Bloomberg News
The Colts enter the regular season with 13-2 odds of capturing their second National Football League title in five years, according to Las Vegas Sports Consultants, which advises Nevada's sports books on betting lines.
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Business bank reports second-quarter loss

September 7, 2010
Indiana Business Bank's restructuring of a real estate loan leads to loss of $484,678 in the second quarter.
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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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