News & Analysis

Dow Agro's quarterly sales, profit climb

February 3, 2011
 IBJ Staff and Associated Press
Indianapolis-based Dow AgroSciences on Thursday reported record fourth-quarter revenue of $1.3 billion, up 19 percent from the prior-year period.
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Baldwin & Lyons reports higher revenue, lower profit

February 3, 2011
Indianapolis-based insurer of car and truck fleets posts quarterly profit slightly lower than a year ago. Revenue, however, rose to $67.7 million, up from $60.8 million in 2009.
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Judge orders concrete company to bargain with union

February 3, 2011
Irving Ready-Mix was ordered to restore pay to workers that had been cut by nearly $3 an hour and to recognize the union as the collective bargaining representative of the employees.
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Indiana took in more revenue than expected in January

February 2, 2011
Associated Press
So far this fiscal year, collections are ahead of the state's forecast by $78 million, or 1.1 percent.
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Indiana OKs 26-percent Indianapolis water increase

February 2, 2011
 IBJ Staff and Associated Press
Regulators have approved a 26-percent rate increase for Indianapolis water customers, the Indiana Utility Regulatory Commission announced Wednesday, less than the 33.4-percent increase requested.
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Brightpoint revenue, earnings exceed analyst expectations

February 2, 2011
 IBJ Staff
The wireless phone distributor said revenue in the fourth quarter was $1.1 billion, an increase of 24 percent over the same period of 2009.
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Indiana colleges want $700 million for new buildings

February 2, 2011
Associated Press
Commission for Higher Education officials say Indiana's universities should get no money for capital projects during the next two-year state budget.
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Area businessman considers run for governor

February 2, 2011
 IBJ Staff and Associated Press
Jim Wallace of Fishers wrote in a letter to state and local GOP officials that his experiences in business and in public service have trained him for the challenges of leading Indiana.
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Super Bowl committee fields weather questions in Dallas

February 2, 2011
Anthony Schoettle
Members of Indianapolis’ 2012 Super Bowl host committee spent most of Tuesday and the early part of Wednesday in Dallas answering questions about central Indiana weather and downtown amenities.
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ExactTarget reports record annual revenue

February 2, 2011
The Indianapolis-based e-mail marketing firm said revenue in 2010 grew 41 percent, to more than $134 million. The company also marked its 40th consecutive quarter of growth.
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Lilly, Bristol-Myers halt enrollment in lung-cancer trial

February 2, 2011
J.K. Wall
Eli Lilly and Co. and Bristol-Myers Squibb Co. stopped enrolling new patients in a clinical trial of an experimental lung cancer drug over concerns about patients developing blood clots.
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Settlement struck in HHGregg dryer lawsuit

February 2, 2011
Scott Olson
The deal, which could become final next month, stems from a lawsuit brought by a group of consumers accusing the Indianapolis-based appliance retailer of improperly installing dryer vents.
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Indiana Legislature called off again because of storm

February 2, 2011
Associated Press
Leaders of the House and Senate both postponed committee meetings that were scheduled at the Statehouse for Wednesday after doing the same on Tuesday.
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Judge's ruling raises uncertainty for health care execs

February 2, 2011
J.K. Wall
After a federal judge in Florida struck down the entire health reform law, investors shrugged. But the uncertainty for executives in health care companies increased.
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Marcadia may fetch up to $537 million in sale

February 2, 2011
J.K. Wall
The December sale of Carmel-based Marcadia Biotech to Roche garnered at least $287 million—and as much as $537 million—for the company’s owners and could lead the Marcadia management team to launch a firm using one of Marcadia’s experimental diabetes medicines.
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Report: Gifts to universities flat despite market recovery

February 2, 2011
Bloomberg News
College fundraising was flat during the 2010 fiscal year as a recovering stock market failed to instill donors with confidence. But Indiana University bucked the trend.
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For-profit colleges make costly loans, report says

February 2, 2011
Bloomberg News
Companies including ITT Educational Services Inc., DeVry Inc and Career Education Corp. are making loans with “high costs” and “predatory terms,” the group said.
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Indiana watchdogs seek probe of Duke Energy plant

February 1, 2011
Associated Press
Consumer advocates are calling for Indiana regulators to appoint an independent investigator to look into whether Duke Energy Corp. used undue influence to win state approval for a nearly $3 billion coal-gasification plant.
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Columbia Club Foundation says funds stolen by director

February 1, 2011
Scott Olson
The private club's president alerted members to the theft in a letter, but declined to specify how much was taken. Still, he said the director, who is not named in the correspondence, is making restitution.
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Pacers owner to keep Bird as team president

February 1, 2011
Associated Press
Indiana Pacers owner Herb Simon says team president Larry Bird's job is safe through the rest of the season, and he could be back next year.
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Lender seeks to foreclose on Castleton Plaza

February 1, 2011
Scott Olson
German American Capital Corp. claims the owner of the strip mall, Castleton Plaza LP—a subsidiary of Broadbent Co.—owes it $10 million. The lender is requesting the property be sold at a sheriff's sale to help satisfy the debt.
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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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  1. Kent's done a good job of putting together some good guests, intelligence and irreverence without the inane chatter of the other two shows. JMV is unlistenable, mostly because he doesn't do his homework and depends on non-sports stuff to keep HIM interested. Query and Shultz is a bit better, but lack of prep in their show certainly is evident. Sterling obviously workes harder than the other shows. We shall see if there is any way for a third signal with very little successful recent history to make it. I always say you have to give a show two years to grow into what it will become...

  2. Lafayette Square, Washington Square should be turned into office parks with office buildings, conversion, no access to the public at all. They should not be shopping malls and should be under tight security and used for professional offices instead of havens for crime. Their only useage is to do this or tear them down and replace them with high rise office parks with secured parking lots so that the crime in the areas is not allowed in. These are prime properties, but must be reused for other uses, professional office conversions with no loitering and no shopping makes sense, otherwise they have become hangouts long ago for gangs, groups of people who have no intent of spending money, and are only there for trouble and possibly crime, shoplifting, etc. I worked summers at SuperX Drugs in Lafayette Square in the 1970s and even then the shrinkage from shoplifting was 10-15 percent. No sense having shopping malls in these areas, they earn no revenue, attract crime, and are a blight on the city. All malls that are not of use should be repurposed or torn down by the city, condemned. One possibility would be to repourpose them as inside college campuses or as community centers, but then again, if the community is high crime, why bother.

  3. Straight No Chaser

  4. Seems the biggest use of TIF is for pet projects that improve Quality Of Life, allegedly, but they ignore other QOL issues that are of a more important and urgent nature. Keep it transparent and try not to get in ready, fire, Aim! mode. You do realize that business the Mayor said might be interested is probably going to want TIF too?

  5. Gary, I'm in complete agreement. The private entity should be required to pay IPL, and, if City parking meters are involved, the parking meter company. I was just pointing out how the poorly-structured parking meter deal affected the car share deal.

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