News brief

Second Helpings closes catering armRestricted Content

January 26, 2009
Local caterers will have one less competitor in 2009, after Second Helpings closed its for-profit catering arm, Just Cause.
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Targanta receives rescue line for drugRestricted Content

January 19, 2009
A former Eli Lilly and Co. antibiotic being developed in Indianapolis will live to try again. The company developing the drug, Massachusetts-based Targanta Therapeutics Inc., has agreed to be acquired by New Jersey-based The Medicines Co. for $42 million.
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BankruptciesRestricted Content

January 19, 2009
Majestic Plaza LLC and W.H. Construction Inc.
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State warns businesses about scamRestricted Content

January 5, 2009
Indiana Secretary of State Todd Rokita has issued a warning about a fraudulent letter targeting Indiana businesses.
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Distribution holds promise for Central IndianaRestricted Content

December 22, 2008
Chip Cutter
A new report shows that, despite a sluggish national economy, the Indianapolis area should continue to attract industrial businesses and distribution centers next year.
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Indy-art-loving lawyer pays studio rent for artistsRestricted Content

December 22, 2008
Paul Hunt, a partner with Barnes & Thornburg, recently decided to pay seven months' studio rent for two artists at Harrison Center for the Arts. And the Columbia Club on Monument Circle is looking for new members.
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Attorney, sports marketer takes on new challengesRestricted Content

December 22, 2008
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Planning for U.S. 31 rebuilding continuesRestricted Content

December 22, 2008
State and federal highway agencies have approved the final environmental impact statement for the 13-mile rebuilding of U.S. 31 from Interstate 465 to 216th Street.
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Apartment revitalization work begins in IrvingtonRestricted Content

December 22, 2008
Apartment developer Christopher Piazza has closed on financing for a $1.2 million renovation of a 1914 apartment building in Irvington.
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Beech Grove government bracing for budget cutsRestricted Content

December 22, 2008
Property-tax caps should help Hoosier homeowners save a bundle next year.
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Indians score $1.23 million profitRestricted Content

December 22, 2008
The Indianapolis Indians made $1.23 million this year on $8.7 million in revenue, according to the publicly traded company's most recent financial disclosure.
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My Health Care Manager goes nationalRestricted Content

December 15, 2008
Less than three years into its life, Indianapolis-based My Health Care Manager is going national.
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A health plan for job hoppersRestricted Content

December 15, 2008
Indianapolis-based Golden Rule Insurance Co. has launched a plan aimed at people who move in and out of jobs that don't offer health insurance.
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IT veteran to teach entrepreneurship classRestricted Content

December 15, 2008
Indiana University will offer a new course on entrepreneurship in the information technology sector at the IU School of Informatics at IUPUI next semester.
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Givers get strategicRestricted Content

December 15, 2008
 Wealthy people are getting more advice from hired professionals and less from peers and not-for-profit personnel when making decisions about charitable giving, a new study shows.
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Cincinnati construction company sues Indy airport for failure to payRestricted Content

December 15, 2008
A suburban Cincinnati construction company known for airport and interstate projects alleges the Indianapolis Airport Authority has failed to pay on a $14.7 million contract to build aircraft parking spaces.
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BSU football scores record TV ratings, attendance boostRestricted Content

December 15, 2008
The Ball State University victory over Central Michigan University Nov. 19, televised live on ESPN2 and seen in more than 1.6 million homes, ranks as the most-viewed and highest-rated college football game ever for a Tuesday or Wednesday night on the network.
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Hamilton County businesses expandRestricted Content

December 15, 2008
Despite the recession, Hamilton County continues to enjoy economic growth from both old companies and new ones.
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Conference center plan for Hendricks County gets positive interestRestricted Content

December 15, 2008
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Group plans special-needs sports complex in MartinsvilleRestricted Content

December 15, 2008
A not-for-profit group led by an account executive at Clayton-based Ray's Trash Service is raising money to build a sports complex designed for people with special needs.
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Recession forces Shelby County's largest employer to cut workersRestricted Content

December 15, 2008
Knauf Insulation is cutting 11 percent of its work force in Shelbyville as the recession prolongs the housing downturn that began two years ago.
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New hotel tax in Johnson County would fund horse park, tourism bureauRestricted Content

December 15, 2008
Johnson County officials this month approved a 7-percent tax on hotel-room stays.
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Quest to improve corridors continues in LebanonRestricted Content

December 15, 2008
The corridors leading into downtown Lebanon are a step closer to becoming more attractive.
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Lease-to-own options becoming more popularRestricted Content

December 8, 2008
Chip Cutter
With credit tight and the economy shaky, homeowners around the region are increasingly choosing to sell their properties on a lease-to-own basis.
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Maurer gift is IU's fourth largestRestricted Content

December 8, 2008
IBJ co-owner Michael Maurer's $35 million gift to the Indiana University School of Law in Bloomington is the fourth largest from an individual in the history of the university.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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