News & Analysis

Lilly's second-quarter profits surge 16 percent

July 22, 2010
J.K. Wall
Indianapolis-based drugmaker Eli Lilly and Co. recorded profits of $1.3 billion, or $1.22 per share, during the three months ended June 30, even after paying $27 million in severance to laid off employees.
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Historic financial overhaul signed into law by Obama

July 21, 2010
Associated Press
Rep. Mike Pence of Indiana, a member of the House GOP leadership, on Wednesday joined House Minority Leader John Boehner of Ohio in calling for the law's repeal.
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Indiana: IBM welfare intake work flawed from start

July 21, 2010
Associated Press
The state is suing IBM for more than $1.3 billion, claiming the company breached one of the biggest outsourcing deals in state history. IBM wants Indiana to pay $52.8 million it says it's owed in deferred payments and equipment costs.
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City inks long-term deal with motorsports show

July 21, 2010
Scott Olson
An agreement with the International Motorsports Industry Show will keep it in the city indefinitely. Attendance for the three-day December convention is expected to top 20,000.
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Auto plant's 300 jobs draw 3,000 applicants

July 21, 2010
Associated Press
The response to openings at a Chrysler transmission plant in Kokomo reflects the large number of people out of work, a union official said.
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LEADING QUESTIONS: Racing promotions require big drive

July 21, 2010
Mason King
ZakBrown_WatchVideoMotorsports marketer Zak Brown, once a driver, feeds his competitive fire in the board room, and believes big egos are good for business.
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UPDATE: Irvington charter school finds new home

July 21, 2010
 IBJ Staff
Under the agreement, Irvington Community School will lease the building from the city for 15 years at a cost of $1 annually.
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Lilly completes $180 million acquisition of Alnara

July 21, 2010
Massachusetts-based Alnara Pharmaceuticals Inc. is a privately held company developing an enzyme-replacement therapy for disorders of the pancreas.
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Rolls-Royce snags $70M contract to service Canadian fleet

July 21, 2010
British firm's Indianapolis manufacturing facility will provide engine management and repair services, as well as logistics and on-site technical support for Canadian military transport aircraft.
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Medicare driving health care hookups

July 21, 2010
J.K. Wall
The scramble by local hospitals to form their physicians and facilities into “clinically integrated” networks that can do business with employers and health insurers has another huge motivating factor: Beginning January 2012, they can also do business with Medicare, the massive federal program for seniors.
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New rules raise stakes for Lilly drug

July 21, 2010
J.K. Wall
Drugmakers testing experimental Alzheimer’s medicines—including Eli Lilly and Co.—got good news last week when the National Institute on Aging and the Alzheimer’s Association proposed new guidelines to make earlier diagnoses of the disease.
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Charter school moving to former Children's Guardian Home

July 20, 2010
Scott Olson
City leaders will officially announce Wednesday morning that Irvington Preparatory School will occupy the children's home, which closed in June of last year. The school has signed a 15-year lease with the city.
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Indiana accused of cutting aid to food stamp users

July 20, 2010
Associated Press
Indiana Family and Social Services Administration attorneys do not believe federal law was broken when officials balanced food stamp payments against a state-run supplemental aid program.
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Judge hears arguments challenging Emmis sale

July 20, 2010
Scott Olson
Common shareholders are challenging the proposed acquisition of the company by closely held JS Acquisition LLC, formed by Emmis Chairman and CEO Jeffrey H. Smulyan in an effort to take it private.
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Local building permits drop; national home building falls

July 20, 2010
 IBJ Staff and Associated Press
Locally, the number of building permits filed in the nine-county Indianapolis area fell by 20 percent in June while home construction plunged nationally to the lowest level since October.
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Water, sewer utility sale passes another hurdle

July 20, 2010
 IBJ Staff
Sale of city's water and sewer utilities faces showdown on Monday with full council vote.
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Indiana's unemployment rate rises slightly

July 20, 2010
Scott Olson
June figure hits 10.1 percent, up a tick from April and May, marking the third straight month Indiana's unemployment rate has been in double digits.
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Deadline approaches for Richelieu offers

July 20, 2010
Tom Harton
John Jacobs and a Cleveland-based partner have put a Friday deadline on offers for the 62-unit Richelieu apartments, a two-building property at the intersection of North and East streets and Mass Ave.
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Angola manufacturers plan nearly 180 new jobs

July 20, 2010
 IBJ Staff
Fuel Systems of Angola and Steffy Wood Products say they will invest a total of $4.8 million on their production facilities in northeast Indiana, creating 178 jobs by 2013.
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Steel Dynamics profit up, but misses analysts' estimates

July 20, 2010
Bloomberg News
Net income was $49.2 million, compared with a net loss of $16 million a year earlier, the Fort Wayne-based steelmaker said Monday in a statement.
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Not-for-profit gambling pinched by recession

July 20, 2010
The lingering recession is cutting into the money Indiana's not-for-profit groups generate from bingo, pull-tabs and other gambling ventures, straining their budgets.
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IT firm plans $24 million data center

July 19, 2010
The city's Metropolitan Development Commission will consider providing Lightbound LLC with property tax abatements to offset investment cost.
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Indiana working on phosphorous limits for lakes

July 19, 2010
Associated Press
The Indiana Department of Environmental Management says the rule would impact sewage treatment plants upstream of lakes.
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Carmel law firm settles consumer claims in Vermont

July 19, 2010
Associated Press
Mossler Law Firm of Carmel agreed to cease all business in Vermont, refund about $79,500 in fees paid by Vermont residents and pay $60,000 in civil penalties.
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Building demolition to begin along Interstate 69

July 19, 2010
Chris O'Malley
Bulldozers await an office complex that previously served as headquarters to August Mack Environmental. It'll be the first building demolished along Interstate 69 to make way for highway expansion.
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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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