News & Analysis

Hilbert mansion to be auctioned

July 14, 2010
Kathleen McLaughlin
CNO Financial Group Inc. will resort to a sealed-bid auction to unload the lavish Hilbert mansion in Carmel, which has been on the market for five years. Its latest asking price was $9.9 million.
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Gleaners CEO to step down after nearly 30 years

July 14, 2010
 IBJ Staff
The 63-year-old head of the central Indiana food bank plans to leave after a nationwide search for her successor. She departs as the group ramps up plans to move into a new headquarters.
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UAW salvages Navistar foundry on brink of closing

July 14, 2010
Kathleen McLaughlin
A five-year contract ratified late Tuesday covers 250 workers in UAW Local 226 who work at Indianapolis Casting Corp.
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IT staffing firm plans downtown expansion, 80 new jobs

July 14, 2010
 IBJ Staff
Smart IT Staffing Inc said Wednesday morning that it plans to expand its Indianapolis headquarters, creating up to 80 new jobs by 2014.
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Ruling on Visteon retiree benefits overturned

July 14, 2010
Associated Press
In overturning two lower court decisions, a three-judge panel of the 3rd U.S. Circuit Court of Appeals in Philadelphia unanimously agreed with attorneys representing some 2,100 retirees from two Visteon manufacturing plants in Indiana.
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Lilly, Roche dive deep into diagnostics

July 14, 2010
J.K. Wall
Two Indianapolis giants—Eli Lilly and Co. and Roche Diagnostics—are working hard to pair up drugs and diagnostic tests to gin up more sales.
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Q&A

July 14, 2010
J.K. Wall
Dr. Tom Inui, the outgoing CEO of Indianapolis-based Regenstrief Institute, talks about the ascendency of health information exchange as a solution to health care challenges and what he'll do next for the medical research organization.
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WellPoint strikes up chat on health reform

July 14, 2010
J.K. Wall

WellPoint Inc. is turning from opponent of the health care reform law passed in March to “trusted adviser.” It launched a website, healthychat.com, where company representatives answer customers’ questions about the new health reform law.

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State selects Marian to train turnaround leaders

July 14, 2010
J.K. Wall
The Indiana Department of Education has awarded Marian University a $500,000 contract to operate a Turnaround Leadership Academy, designed to train school leaders who can lead rapid improvements at struggling schools.
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Federal agents raid University Loft headquarters

July 13, 2010
 IBJ Staff
Agents descended on the contract-furniture maker to execute a sealed search warrant. A spokeswoman for U.S. Attorney Tim Morrison said no arrests were made.
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Ruth Lilly's Crows Nest estate listed at $2.9 million

July 13, 2010
The late philanthropist's gated property at 555 Kessler Blvd. in Crows Nest includes a 7,726-square-foot home with indoor pool, a guest house of about 2,000 square feet and formal gardens.
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Simon competitor General Growth files reorganization plan

July 13, 2010
Associated Press
General Growth expects to come out of bankruptcy court with 180 properties, making it the second-largest shopping mall owner behind Indianapolis-based rival Simon Property Group Inc.
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Environmental services firm to build $40M refinery

July 13, 2010
Kathleen McLaughlin
Heritage-Crystal Clean Inc. plans to build an oil re-refinery in Speedway, creating as many as 75 new jobs by 2013.
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Lugar, Meadows projects get tax credits

July 13, 2010
Tom Harton
Two high-profile apartment projects that were denied tax-credit funding in March recently were awarded the millions of dollars in credits they need to proceed.
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Lilly's Alzheimer's gamble takes aim at $10 billion in patent losses

July 13, 2010
Bloomberg News
Both of Lilly's late-stage treatments are designed to reduce plaque in the brain called beta amyloid, thought by researchers to be a main contributor to Alzheimer's. A drug that stops or reduces memory loss caused by Alzheimer's may be worth more than $5 billion a year, an analyst says, helping Lilly overcome the coming patent losses on several important pharmaceuticals.
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Attorney general says schools can't charge bus riders

July 13, 2010
Associated Press
The opinion presents a complication for districts like Franklin Township Schools on the south side of Indianapolis, which had been counting on charging a bus fee of about $75 per rider beginning this fall.
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New March Madness plan includes four first-round games

July 12, 2010
Associated Press
Two of the so-called "First Four" games will match the lowest seeds, between 65 and 68. The other two games will include the last four at-large qualifiers.
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Lilly to cut 170 manufacturing jobs by year's end

July 12, 2010
J.K. Wall
Eli Lilly and Co. will cut 170 jobs—mostly in Indianapolis—from its manufacturing and quality division by the end of the year as it continues its efforts to slim down before losing revenue from patent expirations on its bestselling drugs.
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UPDATE: CIB wringing money from general operating fund to pay Pacers

July 12, 2010
Anthony Schoettle
A combination of taxes targeting downtown visitors and users of the city's professional sports complexes are expected to generate the bulk of the subsidy.
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Marsh workers seek union election at local store

July 12, 2010
Local 700 said worker interest in union representation began to rise at Marsh Supermarkets after Florida-based private equity group Sun Capital Partners acquired the grocery chain in 2006.
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Indianapolis-area homes sales decline 10 percent

July 12, 2010
 IBJ Staff
However, average home-sale prices for the area sprouted 7 percent from the same month a year earlier, to more than $159,000.
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Calumet Specialty plans to sell $450 million of debt

July 12, 2010
 IBJ Staff and Bloomberg News
The Indianapolis-based refiner of specialty hydrocarbon products plans to sell $450 million of senior notes. Proceeds will be used to repay bank debt.
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Ohio manufacturer consolidates distribution in Indy

July 12, 2010
 IBJ Staff
Cleveland-based Earnest Machine Products has signed a five-year lease for an existing 90,000-square-foot building in Park 100 on the city's northwest side.
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City makes $33.5M deal to keep Indiana Pacers

July 12, 2010
 IBJ Staff
The city will contribute $10 million annually for three years toward Conseco Fieldhouse operating expenses. It also will provide at least $3.5 million for capital improvements.
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Herff Jones closing plant in eastern Pennsylvania

July 10, 2010
Associated Press
Indianapolis-based Herff Jones Inc. said it will close the printing plant in eastern Pennsylvania this fall, laying off 107 workers.
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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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