News & Analysis

Carpenter, Fisher to merge IndyCar teams in 2015

August 17, 2014
Associated Press
Ed Carpenter Racing and Sarah Fisher Hartman Racing said Saturday they will unite to form CFH Racing. The Indianapolis-based teams will be headquartered at Fisher Hartman offices a few blocks from Indianapolis Motor Speedway.
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Records — Aug. 18, 2014Restricted Content

August 16, 2014
Records listings from the issue of Aug. 18, 2014, issue of IBJ.
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Hendricks County pitching motorsports skill, expertise to medical manufacturers

August 16, 2014
Anthony Schoettle
Hendricks County finds pay dirt pitching skills of racing industry to medical device manufacturers.
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TOLLIVER: Warehousing, e-commerce merging in Indy areaRestricted Content

August 16, 2014
Jason Tolliver / Special to IBJ
As consumers, our need for instant gratification has never been greater, as evidenced by the rise of e-commerce. Shopping online and receiving an order that same day or the next is replacing the expectations of old, when we received our orders in a week or so.
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Recent minor-league team sales suggest Indians worth $40M-plus

August 16, 2014
Anthony Schoettle
A stunning string of sales of minor-league baseball teams this year suggests the Indianapolis Indians’ current stock buy-back offer might be undervaluing the franchise.
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Proportion of zero-car households rolls past 10 percent

August 16, 2014
Kathleen McLaughlin
Indianapolis experienced one of the fastest gains in car-less households of any major city in a recent five-year period, according to U.S. Census data compiled by a University of Michigan researcher.
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IU research center trying to remedy 'civic deficit'Restricted Content

August 16, 2014
The Center for Civic Literacy will open its first public conference Aug. 22 with the goal of connecting scholars and practitioners in the fields of education, business, not-for-profits, media and government.
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Children’s Museum expands footprint

August 16, 2014
Scott Olson
The Children’s Museum of Indianapolis plans to begin tearing down a nearby apartment building this month and is starting to explore options for the site that could include an outdoor attraction.
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Eli Lilly making renewed push in biotech field, where it once pioneered

August 16, 2014
J.K. Wall
Lilly expects to soon announce late-stage clinical trial results for two biotech drugs designed to slow the inflammation caused by autoimmune diseases. By the end of the year, it will announce results for a third.
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Emmis: Dynamic pricing will reshape many industriesRestricted Content

August 16, 2014
Dennis Barbosa
Indianapolis-based Emmis Communications Corp. executives believe their latest acquisition, a local flexible-pricing software firm called Digonex Technologies, can revolutionize any number of businesses, including radio.
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Illinois ends contract with private manager of lottery

August 15, 2014
 IBJ Staff
The manager, Northstar Lottery Group LLC, is 80-percent owned by Rhode Island-based Gtech Corp., the parent company of Gtech Indiana, which manages the Hoosier Lottery.
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Top Ballard deputy Kintner heading for private sector

August 15, 2014
Kathleen McLaughlin
Indianapolis Mayor Greg Ballard announced several staff changes Friday morning, including the planned departure of Deputy Mayor of Economic Development Deron Kintner.
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Lender files to foreclose on downtown's Villagio condos

August 15, 2014
Scott Olson
First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it's sold.
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IPL moves to drop coal from Harding Street power plant

August 15, 2014
 Associated Press and IBJ Staff
Indianapolis' electricity utility plans to convert its aging Harding Street power plant entirely to natural gas by 2016, after facing growing pressure to do so from environmental groups and politicians.
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U.S. factory output rises for 6th straight month

August 15, 2014
Associated Press
The Federal Reserve reports that manufacturing production rose 1 percent in July compared to the prior month. Over the past 12 months, manufacturing has risen 4.9 percent.
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Navient donates site to relocate historic home

August 15, 2014
 IBJ Staff
With the land donation, the Noblesville Preservation Alliance is now focused on raising the funds needed to move the Flanagan House from its current location to Navient’s campus on USA Parkway this fall.
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Indiana universities face budget cuts if tax intake lags

August 14, 2014
Associated Press
Indiana's public universities could see their budgets cut another 2 percent if state tax collections continue trailing expectations, Gov. Mike Pence's budget director said Thursday.
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IPFW study recommends shift to Indiana University control

August 14, 2014
Associated Press
Indiana Purdue-Fort Wayne would better serve its region with a shift in governance to Indiana University and a change in the state's funding formula for university campuses, a study released Thursday recommended.
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Mattress maker plans 300 jobs in Plainfield

August 14, 2014
 IBJ Staff
Mattress maker Tempur Sealy International Inc. plans to open a manufacturing and distribution facility in Plainfield, creating up to 300 jobs by the end of 2015, the Lexington, Kentucky-based company announced Thursday afternoon.
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Kravitz leaves Indy Star for job with WTHR

August 14, 2014
Anthony Schoettle
After 14 years as the Star's lead sports columnist and most recognized personality, Bob Kravitz resigned Thursday shortly after 3:30 p.m. “I agonized over this decision for days and days,” he said of joining Channel 13's sports staff.
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Regenstrief plans new $13M headquarters

August 14, 2014
Jeff Newman
Regenstrief, a not-for-profit medical research organization, plans to move 50 investigators, 165 staff members and a number of affiliated scientists into the building when it is completed in mid-2015.
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Huntingburg, Wabash named Stellar Communities

August 14, 2014
Associated Press
Two Indiana cities will receive millions of dollars to help spur economic development after being named 2014 Stellar Communities.
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Weekly U.S. unemployment claims jump by 21,000

August 14, 2014
Associated Press
The four-week average, a less volatile measure, rose 2,000, to 295,750. That continues to be close to averages that predate the beginning of the Great Recession in late 2007.
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Eli Lilly to close Terre Haute animal enzyme plant

August 14, 2014
Associated Press
The plant closure will affect 23 plant employees, all of whom will be offered comparable positions at a Lilly plant near Clinton that employs about 500 workers.
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Contractor gets probation in prevailing wage case

August 13, 2014
 IBJ Staff
Indianapolis construction contractor David Roark was sentenced Wednesday in Marion County Court to two years of probation after he was accused of violating the state's common wage law.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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