News & Analysis

Centaur ready to sell Pennsylvania racetrack-casino project

August 11, 2010
Associated Press
Indianapolis-based Centaur LLC said Wednesday it is asking a federal bankruptcy judge to approve bidding procedures to transfer ownership of Valley View Downs.
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AIG sells American General unit to Fortress at loss

August 11, 2010
Bloomberg News
American International Group Inc. has agreed to sell a majority stake in its Evansville-based consumer lending unit, getting rid of an operation that posted about $1.7 billion in operating losses since 2008 and accumulated more than $17 billion in debt.
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FinishMaster reports lower sales, profit

August 11, 2010
The Indianapolis-based distributor of automotive paints and accessories reported that its second-quarter profit dipped nearly 2 percent, to $3.7 million, from the same period a year earlier.
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LEADING QUESTIONS: Gleaners chief gets wake-up call

August 11, 2010
Mason King
Altmeyer
                           watch videoCEO Pamela Altmeyer reevaluated her priorities and decided to step down after a family tragedy and the agency's latest capital campaign.
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Parking rates could double under city plan

August 11, 2010
Scott Olson
City leaders expect to select a manager to oversee parking operations within the next week.
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Cincinnati Bell chooses Carmel for subsidiary's headquarters

August 11, 2010
Scott Olson
Evolve, which offers bundled voice and data services to commercial customers, will start with 100 employees in Carmel and plans to add more.
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Auto parts plant leaving Ohio for Indiana, may employ 350

August 11, 2010
Associated Press
Continental Structural Plastics expects to spend at least $9.1 million on upgrades to the Huntington factory and perhaps have 350 workers working there by 2012.
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Area home sales slide again

August 11, 2010
July's 27-percent decline marked the third straight month that home sales have slumped in central Indiana following three straight months of improving sales spurred by generous federal tax credits.
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Roche hit with new breed of patent suit

August 11, 2010
J.K. Wall
Roche Diagnostics, a Swiss company that keeps its U.S. headquarters in Indianapolis, has been sued for marking its Accu-Chek blood glucose monitors and accessories with patents that are expired. Illinois resident David O’Neill has sued on behalf of the U.S. government to recover damages of $500 per infraction.
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For Lilly, it's a big one that got away

August 11, 2010
J.K. Wall
An experimental medicine for hepatitis C that Lilly helped identify and develop is now on the cusp of market approval, with analysts predicting as much as $2 billion in annual U.S. sales.
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Noble Roman's quarterly profit, revenue slips

August 11, 2010
 IBJ Staff
Noble Roman’s Inc. profit and revenue slipped in the second quarter as fewer of its traditional Noble’s Pizza and Tuscano’s Italian Style Subs stores were operating.
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Judge refuses to unseal Fair Finance search warrants

August 10, 2010
Greg Andrews
Judge Sara Lioi ruled the right of access to search warrant records connected with an ongoing investigation is “not absolute” and not justified in this case.
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Judge to order mediation in Simon estate dispute

August 10, 2010
Cory Schouten
Hamilton County Judge William J. Hughes said it's clear that all the parties involved in a series of disputes surrounding late mall billionaire Melvin Simon's estate need to "sit across the table from each other and try to work things out."
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Remy to supply motors for all-electric Equinox

August 10, 2010
Chris O'Malley
Remy International on Tuesday signed a contract with Cincinnati-based Advanced Mechanical Products Inc. to supply motors for an all-electric version of the Chevrolet Equinox.
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Shuttered school finding new life as community center

August 10, 2010
Joe Jasinski
Two years after Indianapolis Public Schools closed School 37, a multimillion-dollar redevelopment project is set to breath new life into a building that served the Martindale-Brightwood community for 81 years.
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Productivity falls for first time since 2008

August 10, 2010
Associated Press
Worker productivity declined at an annual rate of 0.9 percent in the April-to-June quarter after posting large gains throughout 2009, the Labor Department said Tuesday.
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Steak n Shake parent postpones meeting amid pay uproar

August 10, 2010
Scott Olson
San Antonio-based Biglari Holdings Inc. said late Monday it will delay a planned Aug. 24 shareholder meeting to give the company time to address "misinformation" regarding its CEO's controversial pay package.
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Lawsuit claims builder broke handicapped rights

August 10, 2010
Associated Press
The suit against SC Bodner Co. says 16 Bodner properties in eight states violate the Fair Housing Act.
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Murphy aims to make Louisville firm big local player

August 10, 2010
 IBJ Staff
The longtime state representative is merging his communications firm into Louisville-based Peritus, which has offices in five states.
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Girl Scouts selling Zionsville tract, three others

August 10, 2010
Tom Harton
The decision by Girl Scouts to divest the camps follows a consolidation among Girl Scouts councils nationwide in 2007 that left the local council with a much bigger service area and more real estate.
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Indiana counselor 'deeply concerned' about Duke plant

August 9, 2010
Associated Press
Indiana Utility Consumer Counselor David Stippler's comments came four months after Duke Energy revealed the cost of its southwestern Indiana plant had grown to nearly $2.9 billion, or about twice the project's original 2007 estimate.
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WellPoint boosts debt offering to $1 billion

August 9, 2010
Bloomberg News
Proceeds from the sale will be used for working capital and general corporate purposes, including debt repayment, the company said in a prospectus.
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Simon Property plans debt sale to fund tender offer

August 9, 2010
Bloomberg News
Simon Property Group Inc., the largest U.S. shopping-mall owner, plans to sell $750 million of notes to fund a tender offer for outstanding debt for the second time this year.
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Counties brace for big tax losses next year

August 9, 2010
 IBJ Staff and Associated Press
Indiana counties will receive $1.3 billion in income tax revenue in 2011, nearly 16 percent less than they did this year. Marion and Hamilton counties will suffer major reductions in distributions.
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Court defeat lost in Lilly's gloomy long-term outlook

August 9, 2010
J.K. Wall
Eli Lilly and Co.'s loss of a patent on one of its blockbuster drugs in court late last month received a collective yawn from investors, who have shunned the stock because of five looming patent expirations.
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