News & Analysis

Financial services firm to hire up to 153 in Castleton

September 10, 2014
Greg Andrews
Chicago-based Cortland Capital Market Services, which has $40 billion in assets under administration, has begun hiring for a variety of financial positions. The Indiana Economic Development Corp. has agreed to provide Cortland up to $1.8 million in tax credits.
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Simon Property CEO says ‘no deal’ in Australia after report

September 9, 2014
Bloomberg News
The Australian reported that Indianapolis-based Simon may bid for CFS Retail, potentially keeping CFS’s premium shopping centers and selling second-tier properties.
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Pence says pricey new program will save money

September 9, 2014
Associated Press
Gov. Mike Pence unveiled a new government management program Tuesday, one that he promised will improve efficiency and save the state money in the long run but that comes with a hefty price tag.
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Deal may be near in Indiana stage collapse suit

September 9, 2014
Associated Press
A lawsuit filed by victims of the 2011 Indiana State Fair stage collapse appears to be nearing a settlement, more than three years after the fatal accident that killed seven people and injured more than 40.
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Apple reveals iPhones with larger screens, smartwatch

September 9, 2014
Bloomberg News
Apple unveiled a smartwatch on Tuesday, a wearable device that marks the company's first major entry in a new product category since the iPad's debut in 2010.
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Ball State AD leaving for Marquette University

September 9, 2014
Associated Press
Bill Scholl joined Ball State in April 2012 after he spent 23 years in athletics administration at the University of Notre Dame, including the last three as deputy athletic director.
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Renault teams with Bollore to promote electric cars

September 9, 2014
Bloomberg News
Renault SA is teaming up with French billionaire Vincent Bollore to make electric cars as the two struggle to establish a market for the emission-free vehicles, including one in Indianapolis.
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Indiana appeals marriage ruling to U.S. Supreme Court

September 9, 2014
 The Statehouse File
Attorney General Greg Zoeller filed an appeal on Tuesday, asking the justices to overturn last week’s 7th Circuit Court of Appeals ruling that declared Indiana’s marriage law unconstitutional.
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PGA Tour event returning to Crooked Stick

September 9, 2014
Anthony Schoettle
The BMW Championship will tee off again at Carmel's Crooked Stick Golf Club in 2016. In 2012, the event, won by Rory McIlroy, generated $30 million in economic impact for the region.
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Kokomo council rejects ban on smoking in bars

September 9, 2014
Associated Press
Council members voted 5-4 Monday night to defeat the proposed ordinance after one councilman who voted to support it last month switched his vote.
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Feds OKs $1.8 million for health exchange helpers

September 9, 2014
Associated Press
The U.S. Department of Health and Human Services is sending Indiana money to help the state's health care plan navigators sign up more residents through a federally run exchange.
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Hardware association investing $4M to move downtown

September 9, 2014
Scott Olson
The Indianapolis-based North American Retail Hardware Association bought a building on North Delaware Street downtown and will move its headquarters there following an extensive renovation.
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Veteran Colts beat writer Chappell joining WRTV

September 9, 2014
Jeff Newman
Mike Chappell, who spent 30 years as a sportswriter with The Indianapolis Star before resigning Monday, has joined WRTV-TV Channel 6 as a writer and commentator, the station announced Tuesday morning.
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Harlan Bakeries plans $13M expansion in Avon

September 8, 2014
Jeff Newman
The company, one of Hendricks County's largest employers, said the expansion will help it retain 700 workers at its flagship plant
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U.S.-Japan group calls for finishing trade pact

September 8, 2014
Associated Press
Government officials from the United States and Japan called Monday for completion of an international trade agreement that they said would strengthen ties between the two allies and help both countries recover from their own economic struggles.
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Indianapolis council OKs public safety tax hike

September 8, 2014
Kathleen McLaughlin
In a 19-10 bipartisan vote, the Indianapolis City-County Council approved a hike in the public-safety income tax. The 43-percent increase will bring the total local income tax rate to 1.77 percent.
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Court: IURC erred in approving Duke fee hike

September 8, 2014
Associated Press
The Indiana Court of Appeals ruled Monday that state utility regulators wrongly approved $61 million in ratepayer fees for the Edwardsport coal gasification plant.
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Court order keeps suspension of vanity plate sales

September 8, 2014
Associated Press
The Indiana Supreme Court says the Bureau of Motor Vehicles can continue suspending sales of vanity plates until a court case is settled.
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School of Philanthropy at IUPUI appoints new dean

September 8, 2014
Jeff Newman
Indiana University has found a successor to Gene Tempel, who is set to step down as dean of the IU Lilly Family School of Philanthropy at IUPUI. The position will be funded through the newly created Eugene R. Tempel Deanship.
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Startup Companion Diagnostics trying to work through bankruptcy

September 8, 2014
J.K. Wall
Companion Diagnostics Inc., a biotech company that relocated to Indiana from Connecticut in 2010, has entered bankruptcy reorganization while it tries to develop a therapy for inflammation.
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Pence, other governors meet with Japanese trade officials

September 8, 2014
Associated Press
This year's goal for the Midwest U.S-Japan Association is to find opportunities for the Midwest's environmental, health and wellness sectors as the population of Japan and the U.S. states age.
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Treasury explores ways to limit profitability of overseas shifts

September 8, 2014
Associated Press
Treasury Secretary Jacob Lew said Monday the Obama administration will decide "in the very near future" what actions it can take to make it less profitable for U.S. companies to shift their legal addresses to other countries.
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U.S. executives feeling tight-fisted about worker raises

September 8, 2014
Associated Press
A survey of Harvard Business School alumni released Monday reveals a series of trends that are widening income disparities and may be weakening the ability of the U.S. economy to grow in the long term.
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Former Butler President Bobby Fong dies at 64

September 8, 2014
Mason King
Fong, who presided over a period of enrollment growth and national renown at the Indianapolis university, died Monday morning of natural causes.
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Electrolux to buy GE Appliances in $3.3B deal

September 8, 2014
 Associated Press and IBJ Staff
The acquisition is the largest ever for Stockholm-based Electrolux, ranked as the world's second biggest home appliance maker after U.S. rival Whirlpool. Louisville-based GE Appliances has a long history in Indiana.
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  1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

  2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

  3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

  4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

  5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.

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