News & Analysis

Indianapolis Super Bowl project gets $1M boost

November 5, 2010
Associated Press
The grant from JPMorgan Chase Foundation clears the way for construction of the Chase Near Eastside Legacy Center.
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TV ratings for Pacers on the upswing

November 5, 2010
Anthony Schoettle
A revamped roster, new satellite TV agreement, and an overall boost of interest in the NBA is credited for more viewership of the local NBA team.
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Employers add jobs, but rate sticks at 9.6 percent

November 5, 2010
Associated Press
U.S. employers added the most jobs in five months in October, with the education and health care sectors leading the way.
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Daniels: No word on White House run until April

November 5, 2010
Associated Press
Republican Indiana Gov. Mitch Daniels says politicians thinking about the next election in 2012 should "stifle" themselves for a while.
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Indiana Live owners miss interest payment

November 4, 2010
 IBJ Staff and Bloomberg News
The owners of Indiana Live racetrack and casino failed to make an interest payment due Nov. 1 on $375 million in debt, providing additional fodder for credit analysts already worried about its financial condition.
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Daniels wants changes in education, unemployment

November 4, 2010
Associated Press
Republican Gov. Mitch Daniels' 2011 legislative agenda includes expanding charter schools, establishing merit pay for teachers, cutting unemployment benefits and raising unemployment insurance taxes on businesses.
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Lilly wins approval of antidepressant Cymbalta for pain

November 4, 2010
Bloomberg News
The Food and Drug Administration has cleared Cymbalta for musculoskeletal pain such as arthritis and chronic lower back conditions, which could mean another $500 million in annual sales for Lilly, an analyst estimates.
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Part of City Market renovation project put on hold

November 4, 2010
Francesca Jarosz
City planners have downsized their renovation plans because project bids came in too high to meet the $2.7 million budget.
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KAR Auction reports higher profit, revenue

November 4, 2010
The auction company had revenue of $445.3 million in the quarter ended Sept. 30, a 4-percent increase from same quarter of 2009. Profit tripled, to $25.6 million.
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Brightpoint shares rise after results top expectations

November 4, 2010
 IBJ Staff
The wireless-device distributor reported revenue of $889 million in the third quarter, an increase of 3 percent compared to the same quarter of 2009.
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Library cuts 37 employees in effort to reduce deficit

November 4, 2010
The Indianapolis-Marion County Public Library's decision to reduce its work force is in response to expected revenue annual shortfalls of up to $4 million through 2013. The cuts follow a reduction in hours last month.
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Election turnout up only slightly this year

November 4, 2010
Associated Press
Slightly more Indiana voters cast ballots in this year's midterm election than in the last one four years ago despite predictions of a much bigger turnout.
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Marsh rolls out new name at certain stores

November 4, 2010
Francesca Jarosz
The name change could be part of a strategy to rebrand Hometown Markets and make them more appealing for an eventual sale.
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IU economists: Slow growth expected in 2011

November 4, 2010
Scott Olson
Economic growth will remain sluggish into next year as companies remain hesitant to add jobs, Indiana University economists said Thursday morning during their annual forecast.
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Kite Realty improves third-quarter results

November 4, 2010
 IBJ Staff
Indianapolis-based Kite Realty Group Trust improved its financial performance in the third quarter, reporting funds from operations of $7.8 million, up from $2.8 million in the same period last year despite a slight dip in revenue.
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Fishers valve maker plans expansion

November 4, 2010
 IBJ Staff
Nexus Valve Inc. plans to invest $2.3 million to expand its headquarters and distribution operations, adding up to 21 jobs by 2015.
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Indiana's GOP leaders want school changes

November 3, 2010
Associated Press
The school plan that House Republicans presented during the campaign calls for giving parents more options, holding teachers accountable and putting more education dollars in classrooms rather than administration.
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Democrats look to rebuild after Republican gains

November 3, 2010
Associated Press
Indiana Democrats are looking for a life preserver heading toward 2012. And their best hope might rest with the man some blame in part for at least one of the party's losses: retiring Sen. Evan Bayh.
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Indiana revenue in October down from year ago

November 3, 2010
Associated Press
The state Budget Agency reported Wednesday that Indiana collected $959 million in October. That's $23 million below the most recent forecast and about $81 million less than projected in the budget lawmakers passed in 2009.
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Group says billboard companies rejected anti-Lilly ad

November 3, 2010
Scott Olson
San Francisco-based Breast Cancer Action wanted its message, "Eli Lilly is making us sick. Tell them to stop," posted on local billboards. But numerous sign companies refused, the group said.
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Rock Bottom Brewery tries to hang onto downtown lease

November 3, 2010
Kathleen McLaughlin
Downtown landlord John Goodman has rejected Rock Bottom Brewery's attempt to renew its lease for five more years. The restaurant has occupied 14,600 square feet at 10 W. Washington St. since June 1, 1996.
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Pence to step down as No. 3 House GOP leader

November 3, 2010
Associated Press
Indiana Rep. Mike Pence alluded to a potential presidential bid in a statement he issued to his colleagues announcing he will step down as GOP conference chairman.
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New GOP-led House will focus on private-sector job creation

November 3, 2010
Francesca Jarosz
With new control of the Indiana House, Republican lawmakers plan to pursue an agenda focused on encouraging the private sector to create jobs and passing a budget without tax increases.
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No 'inappropriate communications,' Duke Energy CEO says

November 3, 2010
Scott Olson
Duke Energy Corp.'s top exec told the Indiana Utility Regulatory Commission that he's confident the IURC's former top attorney had no influence on decisions regarding the utility's Edwardsport plant, even though he sought a job with Duke while working for the regulatory body.
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Anderson makes headway in disposing of former GM sites

November 3, 2010
Kathleen McLaughlin
The city of Anderson is nearing a milestone in its effort to find new uses for numerous former General Motors sites that have been in its possession since 2006.
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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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