News & Analysis

Fortune Industries reports higher profit, lower revenue

September 29, 2010
Indianapolis-based professional employer organization reported fiscal-year profit of $828,000, an 85-percent increase from fiscal 2009. Revenue, however, fell 20 percent, to $60.7 million.
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Rules mostly falling WellPoint's way

September 29, 2010
J.K. Wall
Health insurers won fairly broad leeway under key rules suggested by state insurance commissioners that will govern what kinds of expenses count toward meeting a new federal threshold to spend at least 80 percent of premiums dollars on medical care.
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Indiana University aims to raise $5B in a decade

September 29, 2010
 IBJ Staff and Associated Press
Indiana University President Michael McRobbie says the university is in "constant campaign mode," and private philanthropy is vital for enhancing student financial aid, endowed faculty chairs, specialized buildings and academic initiatives.
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Critics of parking proposal question $500,000 penalty

September 28, 2010
Scott Olson
City leaders argue the termination fee would be paid only if the city breaks the 50-year agreement after the City-County Council signs off on the deal, not if the contract doesn't win approval.
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Union representing Star employees settles suit

September 28, 2010
Details of the confidential agreement were not made public. The union said in a letter to Star employees that the eight will receive a financial settlement but will not be rehired.
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Site chosen for proposed Westfield sports complex

September 28, 2010
Anthony Schoettle
The Hamilton County sports and recreation campus—known as the "Family Sports Capital of America"—is expected to occupy 300 acres and cost millions to fully develop.
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Colts may look to sell souvenirs through vending machines

September 28, 2010
Anthony Schoettle
Locally based MainGate is testing the new NFL merchandise sales technique in Minnesota. Indianapolis could be next.
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Local firm lands $50 million Coast Guard account

September 28, 2010
Anthony Schoettle
Indianapolis-based technology firm Communications Products Inc. scores its second big government contract in nine months.
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Rehab hospital shakes up leadership

September 28, 2010
J.K. Wall
The CEO is on his way out and the board has been dissolved at Rehabilitation Hospital of Indiana, as its owners—Clarian Health and St. Vincent Health—work to pull the hospital closer to their own operations.
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Developer of senior housing buys big tract near Zionsville

September 28, 2010
Tom Harton
Baptist Homes of Indiana Inc. closed Sept. 17 on 159 acres that encircle the Golf Club of Indiana.
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Colts' Polian: NFL 18-game season is done deal

September 27, 2010
Associated Press
During Monday night's weekly radio show, the Indianapolis Colts team president called expanding the schedule by two games "fait accompli," and said the debate is over.
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UAW rejects pay cuts; local GM plant could close

September 27, 2010
Kathleen McLaughlin
Union employees at General Motors' Indianapolis metal-stamping plant have overwhelmingly rejected a proposed pay cut that would have kept the facility open.
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Cook stent could prevent more amputations, study finds

September 27, 2010
Bloomberg News
A drug-coated stent from Indiana-based Cook Medical was more effective than standard therapy for patients with blockages in an upper-leg artery, a study found.
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Smart gets his first shot as NBA head coach

September 27, 2010
Bloomberg News
Hoosier basketball legend Keith Smart was appointed by the Golden State Warriors to replace Don Nelson, the head coach with the most victories in NBA history.
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BPG sells trio of Keystone Crossing buildings

September 27, 2010
An affiliate of Pittsburgh-based PWA Real Estate LLC snapped up the three buildings for $15.5 million. The largest totals more than 100,000 square feet and houses such tenants as General Casualty Co., 20/20 Institute and M/I Homes.
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Dolce hotel, YMCA part of city-funded 'North of South' development

September 27, 2010
Scott Olson
The city plans to issue bonds and use tax-increment financing to fund the $150M project, which also will include 320 high-end apartments and 40,000 square feet of retail space. Construction should begin this year.
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Art museum replaces gallery guards with students

September 27, 2010
Kathleen McLaughlin
The Indianapolis Museum of Art fired 56 gallery attendants Monday morning and will replace them with 100 IUPUI students on a federal work-study program. IMA also will employ 14 reserve police officers to patrol its campus.
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Southwest Airlines to buy AirTran for $1.4B

September 27, 2010
 IBJ Staff and Associated Press
Dallas-based Southwest Airlines would bump Delta Air Lines from top carrier spot at Indianapolis International Airport when it acquires Orlando-based-based AirTran in a deal announced Monday. Southwest/AirTran would have about 33 percent of the Indianapolis market, airport officials said.
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$150M 'North of South' project moving ahead

September 27, 2010
 IBJ Staff
Officials are announcing details of an ambitious downtown development planned for 10 acres Eli Lilly and Co. owns near its Indianapolis headquarters. The project will include a hotel, apartments, restaurants and retail space and a YMCA.
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Raytheon's local plant lands $42M Navy order

September 27, 2010
 IBJ Staff
Raytheon Technical Services Co. in Indianapolis has scored a $42 million contract to make forward-looking infrared sensors for the U.S. Air Force’s HH-60G helicopter, the Department of Defense said late last week.
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REITs use stock sales to grow after paying debt

September 26, 2010
Bloomberg News
U.S. real estate investment trusts, including Indianapolis-based Duke Realty Corp., are selling shares to fund property acquisitions after using record cash from equity offerings last year to reduce debt and cover dividends.
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Report: Indiana infrastructure needs billions in work

September 26, 2010
Associated Press
The report by the Indiana section of the American Society of Civil Engineers gave Indiana a D+ in its first report card on the state's infrastructure. That's slightly better than the D grade given nationally.
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INDOT lays off 30 employees in budget move

September 26, 2010
Associated Press
Gov. Mitch Daniels said the layoffs were "one of the very, very few involuntary reductions" that Indiana government has had to make to cut spending.
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Instability takes toll at WRTV

September 25, 2010
Marc D. Allan
WRTV-TV Channel 6's viewer ratings remain mired in third place during most newscasts after years of anchor turnover. The station has a lot of work to do to re-establish the strong identity it had in the 1990s.
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Tax caps spread relief aroundRestricted Content

September 25, 2010
Francesca Jarosz
Property tax caps—promoted as a way to relieve homeowners from skyrocketing property tax bills—have provided much more relief to a different group of taxpayers. Owners of rental properties and second homes got the lion’s share of assistance from the caps.
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  1. I keep wondering why I keep hearing about this problem of corporations leaving America, and I never hear a reasonable proposal to lower corporate tax rates and raise personal rates on income from capital gains and dividends, especially for high earners. It is just too simple of a solution for Congress to embrace?

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  3. is a disaster. SR37 already needs to be built to interstate standards between 465 and SR144. Southport Road is a mess each morning and evening.

  4. Bass Pro Shops would be good for the mall as well as a Giant Eagle Market District or a Jungle Jim's International Market Place grocery store like the one near Cincinnati Ohio.A Disney quest indoor theme park would be good.An Academy outdoor store would be good too.Indoor Circus shows and magic shows would be good as well. A casino with sports bar would be good.A Disney theater inside that shows movies and Broadway shows would work.Nashville Tennessee concert shops with indoor neon lights would be good.How about a theater that shows travel shows and theme parks. A train store would be good.How about a giant toy store with high tech video games.

  5. This development is in addition to Allpoints Midwest 5, Aitrtek, a recent FedEx and more in Plainfield. Greenwood and Brownsburg also have similar projects.

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