News & Analysis

Daniels endorses findings of criminal code review

December 15, 2010
Associated Press
Sweeping changes proposed for Indiana's criminal sentencing system won the endorsement Wednesday of Gov. Mitch Daniels, who said that if lawmakers enact the changes they would hold down the state's ballooning prison population and save taxpayer money.
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Indiana may cut Medicaid services to check costs

December 15, 2010
Associated Press
The state Medicaid actuary projected Indiana's share of the program's costs will rise by about $1.46 billion this fiscal year, by about $1.84 billion in the 2012 fiscal year and by about $2 billion in the 2013 fiscal year unless some services are cut.
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Indiana GOP chairman stepping down after 5 years

December 15, 2010
Associated Press
Indiana Republican Party Chairman Murray Clark announced his decision Wednesday, saying it was time to turn over the party leadership.
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Indiana lawmakers plan to float corporate tax cuts

December 15, 2010
Francesca Jarosz
State lawmakers plan to propose reducing Indiana’s corporate income tax rate next year in a move they say will make the state a more appealing place for businesses to locate.
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UPDATE: United Kingdom mall owner rejects Simon bid

December 15, 2010
Bloomberg News
Capital Shopping Centres Group Plc, the United Kingdom's biggest shopping mall owner, turned down Simon Property Group Inc.'s $4.6 billion bid, describing it as "inadequate."
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Houston-based company purchasing Gold Club

December 15, 2010
The deal, expected to close by the end of the year, is valued at $1.6 million, including real estate. It will be Rick's Cabaret International Inc.'s first location in Indianapolis.
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Abound Solar completes financing for Tipton plant

December 15, 2010
 IBJ Staff and Bloomberg News
Company closes on a $400 million federal loan to help it take over the empty Getrag plant on U.S. 31 near Kokomo, where it wants to hire as many as 1,000 workers. The plant was acquired for $25 million.
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Health insurance investors unfazed by court ruling

December 15, 2010
J.K. Wall
This week’s ruling by a federal judge could force Congress to rework the new health law to avoid a health insurance market collapse. But the decision had little to no effect on investor sentiment toward WellPoint Inc. and its peers.
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Biomet owners look to arrange $11B marriage

December 15, 2010
J.K. Wall
Warsaw-based Biomet Inc. could get a whole lot bigger if rumors prove true that its owners have made a bid for U.K.-based rival Smith & Nephew plc.
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Simon bids $4.6B for U.K.'s Capital Shopping

December 15, 2010
Bloomberg News
Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, made an offer for Capital Shopping Centres Group Plc that values the U.K. company at $4.6 billion.
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Ivy Tech gets $23M to renovate old Stouffer's Hotel building

December 15, 2010
J.K. Wall
Grant from Lilly Endowment will create a workforce training center, space for distance education and administrative offices at 45-year-old former hotel on North Meridian Street.
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Chrysler to invest another $85M in Kokomo plant

December 14, 2010
Associated Press
Chrysler Group LLC said Tuesday it plans to invest an additional $85 million in its Kokomo transmission plant. The money is in addition to the recently announced $1.2 billion investment in other facilities in the north-central Indiana city.
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Hillenbrand wins ban of knockoff coffins from Mexico

December 14, 2010
Bloomberg News
The U.S. International Trade Commission said Monday that Ataudes Aguilares will be barred from bringing in caskets with attached memorabilia compartments, which Batesville-based Hillenbrand has patented.
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UPDATE: Competitors' woes could help Fishers mortgage firm expand

December 14, 2010
Francesca Jarosz
Fishers-based Stonegate Mortgage Corp. plans to spend about $3 million to expand operations, creating up to 300 jobs by 2015.
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CIB OKs $2.6M in carpet upgrades for convention center

December 14, 2010
Scott Olson
Capital Improvement Board plans to spend about $2.6 million to replace 370,000 square feet of carpeting in the older portion of the Indiana Convention Center to match the carpet in the new addition.
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New commission could run state museum

December 14, 2010
Kathleen McLaughlin
Interim leader is hoping that a more streamlined governance will help the struggling, state-supported museum be more successful in raising private donations and keeping CEOs.
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NAI Olympia brokerage firm closing after 20-year run

December 14, 2010
Cory Schouten
The principals of NAI Olympia Partners have decided to shut down the firm after 20 years in business, leaving its competitors to pick from more than 20 veteran office, industrial and retail brokers.
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Fishers-based mortgage company to add 300 jobs

December 14, 2010
Francesca Jarosz
Stonegate Mortgage Corp. plans to move next spring from its current location near 106th Street and Allisonville Road to a 29,000-square-foot office near 106th Street and State Road 37.
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GM considering Fort Wayne plant for $230M upgrade

December 14, 2010
Associated Press
General Motors is considering $230 million in upgrades to its truck assembly plant near Fort Wayne.
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TJX closing South Bend facility, cutting 725 jobs

December 14, 2010
 IBJ Staff
More than 700 workers will lose their jobs when an A.J. Wright distribution center in South Bend closes next year as part of as a national consolidation by parent TJX Cos.
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Lilly suspends late-stage trial for melanoma drug

December 13, 2010
Bloomberg News
Eli Lilly and Co. suspended a late-stage clinical trial of a medicine for skin-cancer patients after 12 patients in the study died.
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Lost funding puts brakes on commuter buses

December 13, 2010
Francesca Jarosz
The expiration of a federal grant will halt a popular suburban commuter bus service at year’s end, but central Indiana transit advocates say it may be just a temporary stoppage.
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Simon’s options for Capital Shopping takeover dwindling

December 13, 2010
Bloomberg News
Simon Property Group Inc. may be running out of options in its quest to take over Capital Shopping Centres Group Plc and become the largest mall owner in the United Kingdom.
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IU surgeon Pescovitz dies in accident

December 13, 2010
J.K. Wall
Dr. Mark Pescovitz, a surgeon at the Indiana University School of Medicine, died Sunday in a car accident outside Ann Arbor, Mich., after visiting his wife, Dr. Ora Hirsch Pescovitz.
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Big Ten names divisions 'Leaders' and 'Legends'

December 13, 2010
Associated Press
The conference, expanding to 12 teams in all sports and adding divisions and a championship game in football starting next season, on Monday also unveiled a new logo and 18 football awards, each named after two standout Big Ten performers.
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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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