News & Analysis

Lucas Oil owners to buy former Hilbert estate

October 6, 2010
Lucas Oil Products Inc. owners Forrest and Charlotte Lucas confirmed they were buying the property for $3 million at a news conference Wednesday afternoon. It will be used for "business activities and community functions."
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Fourth Artsgarden skywalk gets approval

October 6, 2010
Scott Olson
Despite objections, the Metropolitan Development Commission agreed to provide $600,000 in city funds to help build an enclosed pedestrian walkway connecting the downtown PNC Center with the Indianapolis Artsgarden.
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Good News Ministries eyes using ex-motel to house homeless

October 6, 2010
Kathleen McLaughlin
Residents of Irvington are split over whether to support turning the former Indy East Motel into housing for homeless families.
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Regulators postpone Duke hearing amid scandal

October 6, 2010
Chris O'Malley
The Indiana Utility Regulatory Commission canceled a hearing set for Thursday on Duke Energy Corp.'s controversial Edwardsport power plant amid a conflict-of-interest scandal that cost the agency's chief his job.
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Old National acquiring Monroe Bancorp for $83.5M

October 6, 2010
Scott Olson
Monroe Bancorp subsidiary Monroe Bank is the largest bank headquartered in Bloomington. With nearly $850 million in assets, it has 15 branches in central and south central Indiana, including locations in Noblesville and Avon.
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Purdue scientist shares chemistry Nobel prize

October 6, 2010
Associated Press
Ei-ichi Negishi, 75, a chemistry professor at Purdue University, helped develop chemical methods widely used to make potential cancer drugs and other medicines, as well as slimmed-down computer screens.
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Ivy Tech trying to make transfer process smoother

October 6, 2010
Associated Press
Indianapolis-based Ivy Tech said it has assigned "transfer advocates" at each of the community college's 14 regions around the state.
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Consultants: Pharma industry facing huge changes

October 6, 2010
J.K. Wall
Heitzman_WatchVideoTo date, most analysts say health reform turned out pretty well for the pharmaceutical industry. But a detailed analysis by Deloitte Consulting says the indirect effects of reform will deliver a gut punch to the industry that will lead to full-scale transformation akin to what the telecommunications world has seen over the past three decades.
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Insurers cautious on accountable care

October 6, 2010
J.K. Wall
Health insurers, including locally based WellPoint Inc. and Advantage Health Solutions, have been looking to work with health care providers to form accountable-care organizations. But they also worry that the accountable-care concept will become nothing more than a negotiating tactic by hospitals and doctors.
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Q&A

October 6, 2010
J.K. Wall
Dale Hockel is vice president of clinical engineering services at TriMedX, which helps hospitals and health care facilities keep their medical equipment running even as it ages. TriMedX grew its number of clients in 2009 by 36 percent to a total of 739 health care facilities.
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Indiana's August revenue up 8.4 percent from year ago

October 5, 2010
Associated Press
The state Budget Agency reported Friday that Indiana collected $938 million in August. That's $51 million above the most recent forecast, but still $2 million less than projected in the budget lawmakers passed in early 2009.
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Estridge scales back Symphony development in Westfield

October 5, 2010
Scott Olson
The Estridge Cos. said it is reducing Symphony from a planned 1,400 acres to a size that will closer rival the Carmel-based home builder’s 436-acre Centennial development, also in Westfield.
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Duke Energy puts local CEO on leave amid state probe

October 5, 2010
Chris O'Malley
Duke Energy Corp. placed Mike Reed, CEO of its Indiana operations, on administrative leave Tuesday afternoon amid a state investigation that involves the company and resulted in the dismissal of the chairman of the Indiana Utility Regulatory Commission.
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Indiana utilities commissioner fired after ethics probe

October 5, 2010
Chris O'Malley
Daniels administration alleges Indiana Utility Regulatory Commission chairman David Lott Hardy knew an administrative law judge was talking with Duke Energy Corp. about a job even as he presided over a Duke case.
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Longtime car retailer closes on west side

October 5, 2010
National Car Sales, for years known for its commercials featuring basketball coach Bobby "Slick" Leonard, closed last week after more than 20 years in the market.
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German American Bancorp acquires Bank of Evansville

October 5, 2010
American Community Bancorp Inc.'s subsidiary bank, Bank of Evansville, will become part of Jasper-based German American Bancorp Inc. in a deal valued at nearly $30 million.
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Plastic recycler establishing $25M plant in Richmond

October 5, 2010
Chicago-based Perpetual Recycling Solutions said it will purchase and renovate an existing, 100,000-square-foot facility in the city, with plans to create up to 55 jobs by 2012.
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Closing of Berne plant putting 250 out of work

October 5, 2010
Michigan-based Camryn Industries plans to close the facility in Berne on Oct. 15 after the sale of the plant to Visionary Technologies Inc., also based in Michigan.
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UIndy to manage teacher bonus pay program at 44 schools

October 5, 2010
J.K. Wall
The University of Indianapolis has been selected to manage a $32.7 million effort to improve schools through teacher-improvement programs and performance-based bonuses.
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Christamore House laying off seven employees

October 5, 2010
Local not-for-profit also may temporarily reduce client services to ease its financial struggles. The agency said it needs to raise $200,000 to continue operating through the rest of the year.
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Interactive Intelligence buys Jacksonville software maker

October 5, 2010
 IBJ Staff
Interactive Intelligence Inc. has bolstered its product line of business software applications by acquiring Latitude Software for $14 million.
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Local school district gets $12M magnet school grant

October 5, 2010
Associated Press
The Metropolitan School District of Lawrence Township Schools is the only school system in Indiana and one of just 36 nationwide receiving the grants from the U.S. Department of Education.
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Walnut Street building sold for retail use

October 5, 2010
Tom Harton
The two-story industrial building along the Indianapolis Cultural Trail will be converted into a furniture store.
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Clarke Engineering plans $2.1M expansion in Fishers

October 5, 2010
 IBJ Staff
Fishers-based Clarke Engineering Services plans to invest $2.1 million to expand its headquarters operation, creating as many as 29 jobs by 2012. The 13-year-old firm said it will begin hiring immediately.
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Ex-IU hoops player Leary avoids prison time in fraud

October 4, 2010
Associated Press
Former Indiana University basketball player Todd Leary was sentenced Monday to two years of work release or home detention followed by two years on probation. He still faces theft and burglary charges in Hamilton County in a separate case.
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