News & Analysis

New collateral rules for Indiana deposits may favor big banks

May 22, 2010
Peter Schnitzler
New state rules designed to protect government cash from bank failures might have an unintended consequence: helping the biggest banks and hurting the smallest.
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New Indiana law aims to promote safety of traditional loansRestricted Content

May 22, 2010
Scott Olson
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's housing market rebound from a foreclosure crisis instigated by risky loans.
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Optiform customizes software to improve capture and management of dataRestricted Content

May 22, 2010
Chris O'Malley
The 12-person firm led by CEO Scott McLaughlin recently “graduated” from five years at the Indiana University Emerging Technologies Center and finished a profitable year.
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Upcoming ICSC convention will offer insight into growth plans for retailersRestricted Content

May 22, 2010
Cory Schouten
Retailers are feeling pangs of optimism at an opportune time for the developers and real estate brokers who rely on them for survival: The year’s biggest retail real estate gathering is May 23-25 in Las Vegas.
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Arts Council hopes move, emphasis on donors will help with financesRestricted Content

May 22, 2010
Kathleen McLaughlin
The Arts Council of Indianapolis soon will move its office from Monument Circle to a smaller space on Pennsylvania Street with an adjacent gallery. The move is symbolic of the council’s ongoing reinvention, as well as the financial reality driving that effort.
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Habitat foreclosures on riseRestricted Content

May 22, 2010
Kathleen McLaughlin
So far this year, Habitat for Humanity of Greater Indianapolis has filed six foreclosure suits, more than in any of the past five years. The organization also repossessed four houses as a result of the prior year's foreclosures. In a typical year, CEO Dean Illingworth said, Indy Habitat takes back one or two houses, so the recent uptick is troubling.
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Indianapolis airport traffic jumped in April

May 21, 2010
Chris O'Malley
Indianapolis International Airport sees first rise in passenger traffic in almost three years.
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INSIDE DISH: Ambrosia's Pizzi hits learning curve

May 21, 2010
Mason King
Ambrosia_WatchVideoLocal restaurateur Gino Pizzi refocuses his new downtown locale after unexpected challenges, including higher costs and lackluster lunch business.
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State unemployment rate climbs back to 10 percent

May 21, 2010
Indiana unemployment figure hits double digits in April for the first time since September, showing how volatile the job market remains.
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State opens 2nd biz-development office in China

May 21, 2010
 IBJ Staff
Zhejiang Province office will be Indiana Economic Development Corp.'s seventh international location.
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Eli Lilly invests in $250M Australian venture fund

May 20, 2010
 IBJ Staff and Bloomberg News
The unnamed venture fund will be based in Brisbane, and will focus on biotechnology investments in Australia and southeastern Asia.
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Jobless claims rise by largest amount in 3 months

May 20, 2010
Associated Press
Applications for unemployment benefits rose to 471,000 last week, up by 25,000 from the previous week, the Labor Department said Thursday. It was the first increase in five weeks and the biggest jump since a gain of 40,000 in February.
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Health care suppliers need to think long term, expert says

May 20, 2010
Chris O'Malley
Companies in the health care supply chain need to engage in more strategic, long-term preparation even as the industry faces uncertainties and upheaval, MIT expert tells local conference attendees.
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City Market steering away from food court reputation

May 20, 2010
Scott Olson
Proposed $2.7 million renovation would take down west wing and make cosmetic improvements before 2012 Super Bowl.
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UPDATE: Arcadia confirms major growth plans

May 20, 2010
 IBJ Staff
Arcadia Resources Inc. is planning a $3.9 million expansion of its Indianapolis headquarters and pharmacy operations, the company said Thursday morning, confirming that it plans to add as many as 930 jobs by 2013.
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Mitsubishi planning Franklin expansion

May 20, 2010
 IBJ Staff
A Franklin manufacturing facility is planning a $9.4 million expansion project that would more than double employment over the next two years.
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AARP backs retirees in court fight over IPL benefits plan

May 20, 2010
Chris O'Malley
The AARP says IPL "perverted" a promise to its retirees regarding post-retirement benefits. The retirees have appealed their case to the Indiana Supreme Court.
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Drug-spending increase highest in four years

May 20, 2010
Bloomberg News
The price increase was fueled by the debate over the health-care overhaul in Washington, D.C., Medco Health Solutions Inc. CEO David Snow said.
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Another renovation proposed for City Market

May 20, 2010
 IBJ Staff and Associated Press
Indianapolis officials are proposing a $2.7 million renovation of the downtown City Market, three years after the last major renovation failed to boost business.
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Indiana's 812 area code running short of numbers

May 19, 2010
Associated Press
An April report to the Indiana Utility Regulatory Commission shows that the area code has exhausted 91 percent of its prefixes.
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Arcadia Resources says it will add 930 jobs

May 19, 2010
Scott Olson
Executives of the health care services provider will be joined by Gov. Mitch Daniels and Mayor Greg Ballard for a Thursday morning announcement at the company's headquarters.
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LEADING QUESTIONS: Literacy leader pens success story

May 19, 2010
Mason King
LQ_DiNicola_WatchVideoIndy Reads' Travis DiNicola empowers employees by preaching an entrepreneurial mindset.
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Gavel flies on muscle car auction

May 19, 2010
 IBJ Staff
"My Name is Earl" and "Charlie's Angels" cars are among the more peculiar offerings at the 1,750-vehicle Mecum Auction Co. collector car sale that runs through Sunday at Indiana State Fairgrounds.
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Wind energy jobs sought at Dallas trade show

May 19, 2010
 IBJ Staff
An economic development squad is heading to Dallas to woo wind-energy firms. Indiana ranked second in the nation last year in adding wind-generating capacity.
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Cash-strapped IndyGo planning to cut routes

May 19, 2010
 IBJ Staff
Faced with a $3.2 million budget shortfall, IndyGo proposes the elimination of the Airport Express route, the Route 87 Eastside Circulator and the IndyGo Commuter Express to Carmel and Fishers.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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