News & Analysis

Moody's downgrades long-term ratings for Eli Lilly

November 9, 2010
Associated Press
Moody's Investors Service on Monday lowered the long-term ratings of Lilly one notch, to A2 from A1, citing a wave of patent expirations the drugmaker faces in coming years.
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Arson ruled out in $7M fire at airport hangar

November 9, 2010
 IBJ Staff and Associated Press
The Indianapolis Airport Authority leases the hangar to ComLux Aviation Services, which uses it to maintain and refurbish business aircraft.
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Indianapolis, U.S. reach deal on sewage overflows

November 8, 2010
Associated Press
The new plan includes an accelerated construction schedule for the city's efforts to reduce sewage overflows from systems that carry both storm runoff and sanitary waste.
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Duke fires Indiana chief, lawyer after ethics flap

November 8, 2010
 IBJ Staff and Associated Press
Duke Energy Corp. has fired the president of its Indiana operations and a staff attorney following an ethics flap over its dealings with state utility regulators.
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City names new controller, communications director

November 8, 2010
 IBJ Staff
Jeff Spalding, a former financial administrator at the Indiana Commission for Higher Education, has been named controller for the city of Indianapolis.
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Citigroup subsidiary agrees to $717,000 Indiana fine

November 8, 2010
The penalty stems from charges that Citigroup Global Markets failed to monitor a former agent accused of working with Robert Nelms, who was sentenced in May for securities fraud involving a $24 million cemetery trust fund operated by Indianapolis-based Memory Gardens Management Corp.
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Dealer Expo returning to Indianapolis through 2016

November 8, 2010
 IBJ Staff
Massive powersports trade show Dealer Expo has committed to keep its annual event in Indianapolis through at least 2016—extending its stay by five years.
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Funding biggest obstacle for proposed regional transit system

November 8, 2010
Scott Olson
Scaled-back transit plan, which includes rail line from downtown to Noblesville and Franklin, is projected to cost $2.4 billion, with local taxpayers picking up about half the amount. Funding would need to be approved through county referendums, however.
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Habitat for Humanity executive stepping down

November 8, 2010
Kathleen McLaughlin
Dean Illingworth will step down as executive director of Habitat for Humanity of Greater Indianapolis at the end of the year, the organization announced Monday morning. An architect and former partner at Schmidt & Associates, he has led the organization since 2005.
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Governor starts Asia trip with Indiana delegation

November 8, 2010
Associated Press
Daniels and about 40 government and business officials from Indiana are scheduled to be in China until Sunday. The governor and a smaller group will then go to Japan for meetings until returning to Indiana on Nov. 17.
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Biglari's revised incentive package approved by shareholders

November 8, 2010
Anthony Schoettle
After criticizing an earlier pay proposal, 82 percent of Biglari Holdings' shareholders approved a scaled-back bonus agreement for their CEO.
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Indiana firm pays W. Virginia $175,000 in consumer case

November 8, 2010
Associated Press
West Virginia Attorney General Darrell McGraw said Monday that the money will be used to compensate customers of Indianapolis-based Preferred Financial Solutions Inc., doing business as CCR Now or Credit Card Relief Now.
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Republic Airways profit soars on acquisitions

November 8, 2010
 IBJ Staff and Associated Press
Indianapolis airline plans a public offering of 12 million shares of common stock that could raise $100 million or more.
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Lilly makes $300M deal for Philadelphia drug company

November 8, 2010
J.K. Wall
Eli Lilly said it will acquire Avid Radiopharmaceuticals, maker of an experimental agent that could help identify patients with Alzheimer's disease. The price could climb to $800 million if the agent is commercially successful.
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Democrats pick up pieces after Tuesday's bloodbath

November 8, 2010
Democrats lost 12 House seats, two congressmen and a U.S. senator, and the party failed to win any of three state offices.
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Emmis faces NASDAQ delisting danger again

November 7, 2010
 IBJ Staff
Emmis Communications Corp. spent much of last year in danger of being delisted from the NASDAQ stock exchange. Now, it's back in the same precarious position.
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Fire causes $7M in damage to Indianapolis plane site

November 7, 2010
Associated Press
A fire has swept through an airport hangar in Indianapolis, causing $7 million in damage to the building and an unknown amount of damage to five planes inside.
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Pilots unhappy over airport changes in Greenwood

November 6, 2010
Associated Press
Pilots say they're upset by changes since new management took over and have begun go to Shelbyville and other airports to buy fuel. Some are even considering moving their planes.
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It may be do or die for Indianapolis charter school

November 6, 2010
Joe Jasinski
Knowledge Is Power Program (KIPP) College Preparatory School faces its seventh—and final—review this year, one that could determine its survival.
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City's Conrad hotel investment starts to pay off for taxpayers

November 6, 2010
Cory Schouten
The city put up $25 million for the hotel, restaurant and condo development at the corner of Washington and Illinois streets, including $3.75 million in exchange for the economic equivalent of an 8-percent stake.
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ExactTarget aims to deliver ads through new channels

November 6, 2010
Chris O'Malley
E-mail is merely one component of e-mail marketer ExactTarget’s explosive growth of late, which included last month’s announcement of 500 new jobs by 2015. ExactTarget’s software-as-a-service platform has expanded to include mobile devices, Facebook and Twitter.
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Drama builds in suit over Hilbert mother-in-law's life policy

November 6, 2010
Kathleen McLaughlin
Businessman J.B. Carlson is in debt for $5.9 million, and he may have been the last person to see 74-year-old Suzy Tomlinson alive. Her $15 million life-insurance policy named him as the beneficiary.
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How hard is it to fire a teacher, really?

November 6, 2010
J.K. Wall
Red tape involved in firing teachers is thick. But risk-averse administrators may be the bigger problem.
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Indiana health exchange may take page from Utah playbookRestricted Content

November 6, 2010
J.K. Wall
In Utah, employers can give each of their workers a specific amount of money to apply toward health insurance. The worker then can use that money to choose from the 66 plans in the health insurance exchange.
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Speedway bolsters staff as Indy 500 centennial nearsRestricted Content

November 6, 2010
Anthony Schoettle
IMS hires former Goldsmith aid Doug Boles to drum up interest, ticket sales in tough environment for motor racing.
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