News & Analysis

E-mails suggest Fair Finance was on life support for years

February 26, 2011
Greg Andrews
Emails filed as exhibits in the Chapter 7 bankruptcy case of Fair Finance Co. this month strongly suggest company insiders knew years before Fair collapsed that it was in dire straits.
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Dual roles give Bess unusual view into schools

February 26, 2011
J.K. Wall
Bess Watch VideoAs a Danville school board member and superintendent of Indianapolis Metropolitan High, Scott Bess is straddling the increasingly contentious chasm between traditional public schools and privately operated charters.
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Indy-based cooperative strikes oil at Terre Haute well

February 25, 2011
Associated Press
Indianapolis-based oil cooperative says it has made a "significant" oil find at a well site in western Indiana on property owned by the Hulman family.
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Report: Allison may raise up to $1B in IPO

February 25, 2011
 IBJ Staff
The Indianapolis company, the world's largest maker of commercial transmissions, may go public in the third quarter, Reuters reported.
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UPDATE: Lilly settles pollution suit for $337,500

February 25, 2011
Scott Olson
The agreement with the U.S. government calls for the pharmaceutical company to pay a $337,500 penalty for allegedly emitting a high level of hazardous pollutants from its manufacturing plant on South Harding Street.
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Eli Lilly neuroscience chief resigns

February 25, 2011
J.K. Wall
David Bredt, vice president of neuroscience research, has resigned “to pursue other opportunities,” according to Lilly spokeswoman Judy Kay Moore. Bredt had overseen Lilly’s development of various drugs, including molecules in late-stage human testing to treat Alzheimer’s and depression.
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First Internet Bancorp reports record annual profit

February 25, 2011
The parent of First Internet Bank earned $4.9 million in 2010 compared with a loss of $2.1 million the previous year.
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Developers need Greenwood's OK for disputed land

February 25, 2011
Kathleen McLaughlin
Now that the Indiana Supreme Court has settled the lengthy Greenwood-Bargersville annexation battle, developer Mike Duke is ready to build on a 60-acre tract in the heart of the disputed territory.
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Indiana overpays localities $610M over 3 years

February 25, 2011
Associated Press
State budget officials are seeking to recoup much of nearly $610 million overpaid to local governments in fiscal years 2009, 2010 and 2011 due to income tax revenue estimates thrown off by the lingering recession.
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ChaCha sues Taiwanese company for trademark infringement

February 25, 2011
 IBJ Staff and Bloomberg News
Carmel-based ChaCha Search Inc., operator of an online question-and-answer site, sued Taiwanese company HTC Corp. for trademark infringement over the planned introduction of a smartphone called the ChaCha.
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Indianapolis library system sees drop in visits

February 25, 2011
Kathleen McLaughlin
The Indianapolis-Marion County Public Library system, which reduced hours to deal with budget cuts, saw patron visits drop 15 percent in 2010, to just more than 5 million.
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Protest turns to camp for border-crossing Indiana Democrats

February 25, 2011
Bloomberg News
Labor unrest and proximity have made the Land of Lincoln the haven of choice for out-of-state lawmakers looking to block Republican-backed bills.
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Barnes & Thornburg expands into Los Angeles

February 25, 2011
The opening of an office on the West Coast continues the Indianapolis-based law firm's expansion into other major markets.
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City seeks replacement for GM plant

February 24, 2011
Francesca Jarosz
Indianapolis will spend $115,000 on a study to explore redevelopment opportunities for the 102-acre GM Stamping Plant property west of downtown that will close this summer.
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Daniels signs jobless-fund bill that unions fought

February 24, 2011
Associated Press
Indiana Gov. Mitch Daniels signed into law Thursday a plan aimed at fixing Indiana's debt-ridden unemployment fund that labor unions had opposed because it will reduce jobless benefits for some people while softening business tax increases.
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Ballard says jobs, neighborhoods critical

February 24, 2011
Francesca Jarosz
Creating a climate that allows businesses to thrive and improving Indianapolis’ neighborhoods will be critical to the city’s future success. That was the message Mayor Greg Ballard conveyed Thursday night in his fourth-annual State of the City speech, delivered at the Indianapolis Artsgarden downtown.
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Indiana lawmakers urge NFL, players to reach deal

February 24, 2011
Associated Press
Lawmakers from Indiana, home of next season's Super Bowl, are urging the NFL and players union to avoid a work stoppage that would have a "devastating impact" on the state's economy.
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UPDATE: Lilly settles pollution suit for $337,500

February 24, 2011
Scott Olson
A complaint filed Wednesday by the U.S. government says Lilly's plant on South Harding Street is emitting high levels of acetonitrile and methanol, considered hazardous air pollutants by the EPA.
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Broadband provider's legal fight escalates

February 24, 2011
Scott Olson
Indiana-based Omnicity Corp. has filed countersuits against the owners of two companies it acquired who are charging in court that Omnicity failed to fully pay them for the acquisitions.
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Local firm making noise with app for radio stations

February 24, 2011
Scott Olson
Boost Media & Entertainment's MyStationApp targets independent radio stations such as WTTS-FM 92.3 in Bloomington, which is having success with the product.
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LEADING QUESTIONS: Real estate maven keeps swinging

February 24, 2011
Mason King
LQ Litten watch videoHow does the owner of F.C. Tucker Co. rally the troops during the home-sales slump? How did his tour in Vietnam reset his course? Why is his desk always so clean? Talk to Jim Litten; he has answers.
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Auto auctioneer KAR sees quarterly profit surge

February 24, 2011
J.K. Wall
Carmel-based KAR Auction Services Inc. announced Wednesday that it pulled in profit of $7.3 million in the three months ended Dec. 31, a 38-percent jump from the $5.3 million earned in the same quarter the prior year.
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Ballard: City must build 'attractive urban environment'

February 24, 2011
Francesca Jarosz
The theme of Indianapolis Mayor Greg Ballard's fourth-annual State of the City address will include putting “the needs of the next decade ahead of the next day, next year or next election,” according to excerpts released Wednesday.
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Truck stocks signal economic growth

February 24, 2011
Bloomberg News
Companies that act as brokers for trucking services are gaining favor with investors as the 20-month-old rebound shifts into a new phase that’s less dependent on inventory restocking.
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Indiana official out of job after 'live ammo' tweet

February 23, 2011
Associated Press
An Indiana deputy attorney general "is no longer employed" by the state after Mother Jones magazine reported he tweeted that police should use live ammunition against Wisconsin labor protesters, the attorney general's office said Wednesday.
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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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