News & Analysis

Analyst: Arcadia sales poised to take off

August 4, 2010
J.K. Wall
Arcadia Resources’ DailyMed business will grow revenue 10-fold in the next three years and push the Indianapolis-based company into profitability, according to a research report by the first analyst to officially cover the company.
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Q&A

August 4, 2010
J.K. Wall
Dr. Michael Meneghini, 37, became the first orthopedic surgeon at the Indiana Clinic when he joined last month. Until two years ago, he worked mainly at St. Vincent hospitals. After a two-year stint at the University of Connecticut Health Center, Meneghini returned to Indianapolis to be near family.
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Republic Airways profit dips despite higher revenue

August 4, 2010
 IBJ Staff
The 2009 acquisition of Frontier and Midwest airlines more than doubled second-quarter revenue for Indianapolis-based Republic Airways Holdings Inc., the company said late Tuesday, but profit fell because of additional expenses.
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Revenue, earnings up for KAR Auction Services

August 4, 2010
 IBJ Staff
The company had revenue of $470 million in the quarter ended June 30, a 7-percent increase over the $439.1 million it reported in the same quarter of 2009.
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UPDATE: Emmis postpones buyout decision

August 3, 2010
Scott Olson, J.K. Wall
Emmis Communications Corp. on Tuesday postponed a decision on CEO Jeff Smulyan's bid to take the company private, saying it did not receive enough votes from shareholders to reach a quorum.
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CNO Financial profits surge 20 percent, beating expectations

August 3, 2010
J.K. Wall
The Carmel-based life and health insurer earned $33.1 million in the three months ended June 30, or 12 cents per diluted share. Excluding losses on investments and retired debt, the company would have earned 16 cents per share.
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Trustee: Durham used Fair funds for gambling, donations

August 3, 2010
Greg Andrews, Associated Press
The bankruptcy trustee said Durham spent $2.8 million on gambling and resorts, $3.3 million on interior decorating and $14 million on real estate.
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Seven cab companies denied licenses

August 3, 2010
The city of Indianapolis' Department of Code Enforcement rejected the applications largely because the companies didn't have a dispatch facility or didn't have employees to staff a facility.
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Emmis shares skid ahead of buyout vote

August 3, 2010
J.K. Wall
Opposition by preferred shareholders has Emmis shares trading at more than 30 percent below the buyout price of $2.40 per share.
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Bank trying to sell former home of Premier Properties founder

August 3, 2010
Cory Schouten
A Lake Clearwater mansion formerly owned by Premier Properties founder Christopher P. White is up for sale with an asking price of $1.48M.
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Wellness-based development would be first of kind here

August 3, 2010
Tom Harton
Satori Pointe is being marketed as a campus where medical offices, fitness-oriented retailers and residents would co-exist.
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Construction

August 3, 2010
Tom Harton
-Browning Construction has broken ground on a 60,174-square-foot diagnosis, education, treatment and surgery center for Indiana Spine Group at 13225 N. Meridian St. The project is scheduled to be completed in September 2011.  

-Shamrock Builders-Commercial has completed construction of a 6,154-square-foot dental office for Daniel S. Martin at 1000 W. Jefferson St., Franklin.
 
-Shamrock Builders-Commercial has completed a 2,125-squhttps://admin.ibj.com/admin/article/workflow/claim?articleId=21452#are-foot tenant build-out for Synapse Neuromonitoring at East 10th Street and Mitthoeffer Road.
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Dow Agro boosts sales, profit in second quarter

August 3, 2010
 IBJ Staff and Bloomberg News
Indianapolis-based Dow AgroSciences improved sales and profit in its second quarter thanks to higher volumes and lower costs, the company said Tuesday morning.
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WellPoint, peers focus on health reform rules, campaign

August 3, 2010
Bloomberg News
WellPoint Inc., UnitedHealth Group Inc. and three other health insurers, criticized by Democrats during the health care reform debate, are seeking to influence how the new law will be implemented, and possibly change it, by campaigning for supportive congressional candidates.
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IU gets $9.2 million grant for 2 global networks

August 3, 2010
Associated Press
Indiana University has won a $9.2 million federal grant to lead two high-speed global networks intended to boost scientific collaborations between U.S., European and Asian researchers.
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Indianapolis making contingency plan for Super Bowl

August 2, 2010
Associated Press
NFL officials and the Indianapolis Super Bowl Host Committee have a contingency plan if a work stoppage postpones the 2012 Super Bowl.
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UPDATE: Walgreens goes 0-for-4 in pursuit of liquor permits

August 2, 2010
Scott Olson
Drug store chain pulls two applications, while local board rejects its request to sell booze at a store on East Washington Street and deadlocks on a 2-2 vote regarding a store on East 86th Street.
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Enforcement lax on teen-driver mobile-phone ban

August 2, 2010
Associated Press
Indiana State Police report ticketing only one driver for violating the cell phone ban, and a state agency that tracks infractions for 160 police departments could find just two other citations.
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Film advocate Heartland aims to raise $12.5 million

August 2, 2010
Kathleen McLaughlin
Heartland Truly Moving Pictures is well on its way to raising $12.5 million to use for numerous film-related projects, the group announced Monday morning during a press conference featuring director Rob Reiner.
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Celadon reports higher quarterly, fiscal-year profit

August 2, 2010
CEO Steve Russell attributed the improved earnings to a recovering freight environment, coupled with a decrease in competition. Celadon also is benefiting from increased trade with Mexico.
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Senator asks Zimmer for info about product complaints

July 31, 2010
Bloomberg News
Inquiry stemmed from an article in the New York Times about a dispute between the Warsaw-based maker of artificial hip and knee joints and two of its consultants.
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Candidates for Indiana Supreme Court narrowed to three

July 31, 2010
Associated Press
One of the finalists, Marion Superior Court Judge Robyn Moberly, would be the first woman on the state's highest court since 1999.
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Bed-and-breakfasts complain of inferior ICVA support

July 31, 2010
Anthony Schoettle
Local B&B operators squeezed by the economy, including Gary Hofmeister, claim they could be doing better if they got some support from the Indianapolis Convention and Visitors Association.
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Brickyard decline not good for IRL

July 31, 2010
Anthony Schoettle
Motorsports insiders think the Brickyard 400’s declining fortunes will hasten the Hulman-George family’s decision on the future of the Indy Racing League, which the NASCAR race has helped subsidize.
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Quick hits: Indianapolis and Kansas City are close match in tourism

July 31, 2010
Indianapolis and Kansas City, a metro area with feet in both Missouri and Kansas, are not only similar demographically, but the cities' convention and tourism trades have some measures in common, like number of annual visitors.
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  1. "bike lanes, specialized lighting, decorative signage, public art, grass medians, trees and rain gardens" These are all nice things to have, but can we freaking get the hundreds of potholes all over the city fixed first?!?!?!!?!?!

  2. When a criminal with multiple prior convictions serves five days of a one year sentence and later kills a police officer with a weapon illegally in his posession, residents of Boone County need to pay a tax to drive to work... PERFECT Progressive logic.. If, on the other hand, a fund were to be set up to build more prisons and hire more guards to keep the known criminals off the streets, I'd be the first to contribute.

  3. Not a word about how much the taxpayers will be ripped off on this deal. Crime spirals out of control and the the social problems that cause it go unheeded by an administration that does not give a rats behind about the welfare of our citizens. There is no money for police or plowing snow (remember last winter) or or or or, but spend on a sports complex, and the cash flows out of the taxpayers pockets. This city is SICK

  4. Sounds like a competitor just wanted to cause a problem. I would think as long as they are not "selling" the alcohol to the residents it is no different than if I serve wine to dinner guests. With all the violent crime happening I would think they should turn their attention to real criminals. Let these older residents enjoy what pleasures they can. Then again those boozed up residents may pose a danger to society.

  5. Where did the money go from the 2007 Income tax increase for public safety that the Mayor used to stir opposition and win the election and then failed to repeal (although he promised he would when he was running for election)? Where did the money go from the water utility sale? Where did the money go from the parking meter deal? Why does the money have all these funds for TIF deals and redevelopment of Mass avenue, and subsidy for luxury high rises, parking garages in Broad Ripple, and granola chain grocery stores but can not find the money to take care of public safety. Commuters shouldn't have to pay the tax of failed leadership in Marion County by leaders that commuters have no say in electing. Taxation without representation.

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