News & Analysis

Cancer drugmaker Endocyte raises $75 million in IPO

February 4, 2011
Bloomberg News
Indiana-based Endocyte Inc., a developer of drugs for ovarian and lung tumors, raised $75 million in its initial public offering after cutting the price twice this week for a total reduction of as much as 60 percent.
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Purdue cancels $28 million coal-fired power plant

February 4, 2011
Associated Press
The school's board of trustees voted Friday morning to cancel the $28 million project for the Wade Utility Plant based on financial and regulatory concerns.
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Indiana Farm Bureau unveiling ads during Super Bowl

February 4, 2011
Scott Olson
The insurer's new campaign, developed by local advertising firm Young & Laramore, focuses on real-life situations amid a crowded field of competitors.
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Consumer groups balk at bills to speed utility cost recovery

February 4, 2011
Chris O'Malley
Proposals would mitigate rate spikes, says utility industry. Consumer groups call proposed legislation a rubber stamp for utilities.
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Brightpoint shares bask in afterglow of earnings report

February 4, 2011
The stock has soared more than 28 percent since Wednesday's earnings report.  Growth of smart phones and European logistics prospects helped Brightpoint beat earnings estimates.
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Endocyte again changes terms of public offering

February 4, 2011
 IBJ Staff and Bloomberg News
The West Lafayette-based biopharmaceutical company now is planning to offer at least 12.5 million shares, or 17 percent more than previously announced, but at a lower price of $6 each.
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Sport Graphics making its mark in Dallas this week

February 4, 2011
Anthony Schoettle
Locally based Sport Graphics scored a "six-figure" deal with the NFL to design, make and install all Super Bowl signage—in Dallas and Indianapolis.
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Indiana plans Reagan celebration at Statehouse

February 4, 2011
Associated Press
The Ronald Reagan Centennial Celebration is scheduled for Feb. 10 at the Indiana Statehouse. The celebration is part of events nationwide celebrating Reagan's life.
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Jobless rate falls to 9 percent despite weak job growth

February 4, 2011
Associated Press
The economy generated only 36,000 net new jobs in January, the fewest in four months, but the unemployment rate fell because many of those out of work gave up on their job searches.
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Purdue poised to cancel coal-fired power plant

February 4, 2011
Associated Press
Purdue University is moving to call off plans for a new coal-fired power unit that had been strongly opposed by environmental activists.
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Simon Property's quarterly profit rises on improving retail sales

February 4, 2011
 IBJ Staff and Bloomberg News
Earnings for the Indianapolis-based shopping mall owner increased to $217.9 million in the fourth quarter, up from $91.5 million in the fourth quarter of 2009. Funds from operations, a key measurement used by real estate investment trusts, also improved.
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Missionary group says vendor holding website hostage

February 4, 2011
Evangelical Baptist Missions Inc. says its former IT vendor is holding its website hostage—potentially hampering the safety of people working abroad.
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Klipsch selling for $166M, Audiovox says

February 3, 2011
 IBJ Staff
Klipsch will become a subsidiary of Audiovox and operate as a stand-alone operation in Indianapolis under the leadership of the current management team, Audiovox said.
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Tighter rules for scholarship program advance

February 3, 2011
Associated Press
Indiana's popular 21st Century Scholars program that provides full college scholarships to needy students who stay out of trouble would have stiffer requirements under a proposal approved Thursday by a legislative committee.
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MacAllister Machinery acquires Michigan company

February 3, 2011
Indianapolis-based MacAllister Machinery has acquired Michigan Tractor and Machinery Co., which has 590 employees and is Michigan's top Caterpillar dealer.
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NFL labor situation a hot topic in Dallas

February 3, 2011
Anthony Schoettle
A lockout is predicted by many, but whether labor strife ultimately affects the 2012 Super Bowl in Indianapolis remains to be seen.
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Dow Agro's quarterly sales, profit climb

February 3, 2011
 IBJ Staff and Associated Press
Indianapolis-based Dow AgroSciences on Thursday reported record fourth-quarter revenue of $1.3 billion, up 19 percent from the prior-year period.
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Baldwin & Lyons reports higher revenue, lower profit

February 3, 2011
Indianapolis-based insurer of car and truck fleets posts quarterly profit slightly lower than a year ago. Revenue, however, rose to $67.7 million, up from $60.8 million in 2009.
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Judge orders concrete company to bargain with union

February 3, 2011
Irving Ready-Mix was ordered to restore pay to workers that had been cut by nearly $3 an hour and to recognize the union as the collective bargaining representative of the employees.
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Indiana took in more revenue than expected in January

February 2, 2011
Associated Press
So far this fiscal year, collections are ahead of the state's forecast by $78 million, or 1.1 percent.
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Indiana OKs 26-percent Indianapolis water increase

February 2, 2011
 IBJ Staff and Associated Press
Regulators have approved a 26-percent rate increase for Indianapolis water customers, the Indiana Utility Regulatory Commission announced Wednesday, less than the 33.4-percent increase requested.
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Brightpoint revenue, earnings exceed analyst expectations

February 2, 2011
 IBJ Staff
The wireless phone distributor said revenue in the fourth quarter was $1.1 billion, an increase of 24 percent over the same period of 2009.
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Indiana colleges want $700 million for new buildings

February 2, 2011
Associated Press
Commission for Higher Education officials say Indiana's universities should get no money for capital projects during the next two-year state budget.
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Area businessman considers run for governor

February 2, 2011
 IBJ Staff and Associated Press
Jim Wallace of Fishers wrote in a letter to state and local GOP officials that his experiences in business and in public service have trained him for the challenges of leading Indiana.
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Super Bowl committee fields weather questions in Dallas

February 2, 2011
Anthony Schoettle
Members of Indianapolis’ 2012 Super Bowl host committee spent most of Tuesday and the early part of Wednesday in Dallas answering questions about central Indiana weather and downtown amenities.
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  1. I never thought I'd see the day when a Republican Mayor would lead the charge in attempting to raise every tax we have to pay. Now it's income taxes and property taxes that Ballard wants to increase. And to pay for a pre-K program? Many studies have shown that pre-K offer no long-term educational benefits whatsoever. And Ballard is pitching it as a way of fighting crime? Who is he kidding? It's about government provided day care. It's a shame that we elected a Republican who has turned out to be a huge big spending, big taxing, big borrowing liberal Democrat.

  2. Why do we blame the unions? They did not create the 11 different school districts that are the root of the problem.

  3. I was just watching an AOW race from cleveland in 1997...in addition to the 65K for the race, there were more people in boats watching that race from the lake than were IndyCar fans watching the 2014 IndyCar season finale in the Fontana grandstands. Just sayin...That's some resurgence modern IndyCar has going. Almost profitable, nobody in the grandstands and TV ratings dropping 61% at some tracks in the series. Business model..."CRAZY" as said by a NASCAR track general manager. Yup, this thing is purring like a cat! Sponsors...send them your cash, pronto!!! LOL, not a chance.

  4. I'm sure Indiana is paradise for the wealthy and affluent, but what about the rest of us? Over the last 40 years, conservatives and the business elite have run this country (and state)into the ground. The pendulum will swing back as more moderate voters get tired of Reaganomics and regressive social policies. Add to that the wave of minority voters coming up in the next 10 to 15 years and things will get better. unfortunately we have to suffer through 10 more years of gerrymandered districts and dispropionate representation.

  5. Funny thing....rich people telling poor people how bad the other rich people are wanting to cut benefits/school etc and that they should vote for those rich people that just did it. Just saying..............

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