News & Analysis

Lilly Endowment's value drops to $5.3 billion

May 17, 2010
Kathleen McLaughlin
Lilly Endowment announced Monday that its assets declined 7 percent, to $5.3 billion, in 2009, as the foundation continued to lose money on Eli Lilly and Co. stock.
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IMPD investigates Brizzi golf cart incident

May 17, 2010
Cory Schouten
The Indianapolis Metropolitan Police Department is investigating the circumstances surrounding an officer's injury at a 2008 fundraiser for Marion County Prosecutor Carl Brizzi. IMPD also has cut back overtime hours allowed for Brizzi's security detail, one of its most prolific overtime producers.
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State cites Veolia Water over safety concerns

May 17, 2010
Chris O'Malley
Veolia Water is contesting three "serious" safety penalties involving a gas line strike. IOSHA alleges utility failed to instruct employees and properly determine location of lines.
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UIndy names nursing dean

May 17, 2010
 IBJ Staff
Interim dean Anne Thomas now has job outright at University of Indianapolis nursing school.
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IPL settles $190M dispute, resumes wind farm project

May 17, 2010
Chris O'Malley
Indianapolis Power & Light tilted at wind farm developer by terminating its contract. Now a new agreement avoids the potential $190 million in damages enXco sought against the local utility.
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OrthoX receives top Mira award

May 17, 2010
South Bend-based company wins Innovation of the Year honor for its development of orthopedic implants product.
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Bioanalytical Systems reports loss in second quarter

May 17, 2010
 IBJ Staff
Bioanalytical Systems Inc. narrowed its losses in the second fiscal quarter despite a 2 percent drop in revenue, the West Lafayette-based contract research firm said late last week.
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Butler's basketball success as a 'mid-major' a rare feat

May 15, 2010
Associated Press
The Bulldogs are one of a handful of "mid-major" teams that have carved out a spot on the national map with a simple strategy: You win by being yourself.
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IU targets tech-transfer gap

May 15, 2010
Kathleen McLaughlin
Indiana University is showing signs that it's finally serious about translating research into commercial product, through grants it is awarding via its $10 million Innovate Indiana Fund and by developing a computing technology mini-campus.
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Simon biding its time after failed bid for rival

May 15, 2010
Cory Schouten
Analysts predict Simon Property Group Inc. will pay off debt and wait patiently for its next opportunity after withdrawing separate offers to either acquire General Growth Properties or finance its exit from bankruptcy. A New York judge had endorsed a rival plan that allows General Growth to stay independent.
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Indianapolis law firms raising rates again

May 15, 2010
Scott Olson
Recession's over. Time for law firms to get cracking on raising rates again. As was the case before the recession, the increases are outstripping inflation.
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Officials: Despite expansion, convention center needs work

May 15, 2010
Anthony Schoettle
Seven months before the $275 million expansion of the Indiana Convention Center is complete, convention planners and local convention and tourism officials are calling for an upgrade to the existing Convention Center space.
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Lender lawsuits seek millions from Broadbent owner

May 15, 2010
Scott Olson
Two new lawsuits stemming from Broadbent Co.’s financial problems charge company President George Broadbent defaulted on loans and owes more than $2.6 million.
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Resurgent Finish Line eyes plan for cash hoard

May 15, 2010
Cory Schouten
Finish Line Inc. is working to deploy the money it has built up through cost-cutting. The 684-store chain plans to reinvest in its core business, return cash to shareholders through higher dividends and share repurchases, and diversify its business.
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Duke Energy downsizes smart-grid plansRestricted Content

May 15, 2010
Chris O'Malley
Duke Energy has dramatically scaled back its proposed "smart" electric grid rollout, five months after regulators rejected an initial, $445 million plan.
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Renamed Conseco OK with less-flashy futureRestricted Content

May 15, 2010
J.K. Wall
CNO Financial Group Inc., known as Conseco Inc. until May 11, has become almost the polar opposite of what it was under flashy co-founder Steve Hilbert. Instead of high-octane growth driven by merger deals, CNO Financial has returned to profitability by selling low-dollar products and emphasizing low-cost operations.
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Unorthodox pay package puts Biglari on defensiveRestricted Content

May 15, 2010
Greg Andrews
Sardar Biglari, chairman and CEO of Biglari Holdings Inc., the Texas-based parent of Steak n Shake, rolled out a hedge-fund-style compensation plan for himself late last month that could put staggering sums in his pocket.
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Prosecutor drops arson charges in Cosmopolitan fire

May 14, 2010
 IBJ Staff
Homeless man Brandon Burns had been accused of setting the massive blaze.
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IU lands $8.5 million grant to renovate Riley hospital

May 14, 2010
Gift will be used for a pediatric research facility to better identify how genetic and environmental factors contribute to diseases in children.
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Shareholders sue to block deal to take Emmis private

May 14, 2010
J.K. Wall
The lawsuits, filed in Marion Superior Court, say board members have breached fiduciary duties by making no recommendation on deal that, they say, will enrich Chairman Jeff Smulyan at the expense of minority shareholders.
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INSIDE DISH: Real estate deals central to success for Santorini

May 14, 2010
Mason King
Santorini_watchvideoShrewd moves have allowed restauranteur Taki Sawi to cement Santorini Greek Kitchen in Fountain Square and pave the way for future expansion.
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Weather, sponsors should boost Broad Ripple Art Fair

May 14, 2010
Scott Olson
In its 40th year, event will feature 225 artists in a format expanded to two days.
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Bioanalytical Systems names new chief executive

May 14, 2010
 IBJ Staff
West Lafayette-based Bioanalytical Systems Inc. has promoted Anthony S. Chilton to CEO following the retirement of top executive Richard M. Shepperd earlier this year.
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Local businesswoman re-elected as chair of national group

May 14, 2010
Jean Wojtowicz will serve another one-year term leading the board of the National Association of Development Companies.
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Lilly, others cut U.S. tax bills through transfer pricing

May 14, 2010
Bloomberg News
U.S. companies, including Eli Lilly, amassed at least $1 trillion in foreign profits not taxed in the U.S. as of the end of last year. That cumulative total increased 70 percent over three years.
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