News & Analysis

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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ExactTarget reports record annual revenue

February 2, 2011
The Indianapolis-based e-mail marketing firm said revenue in 2010 grew 41 percent, to more than $134 million. The company also marked its 40th consecutive quarter of growth.
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Lilly, Bristol-Myers halt enrollment in lung-cancer trial

February 2, 2011
J.K. Wall
Eli Lilly and Co. and Bristol-Myers Squibb Co. stopped enrolling new patients in a clinical trial of an experimental lung cancer drug over concerns about patients developing blood clots.
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Settlement struck in HHGregg dryer lawsuit

February 2, 2011
Scott Olson
The deal, which could become final next month, stems from a lawsuit brought by a group of consumers accusing the Indianapolis-based appliance retailer of improperly installing dryer vents.
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Indiana Legislature called off again because of storm

February 2, 2011
Associated Press
Leaders of the House and Senate both postponed committee meetings that were scheduled at the Statehouse for Wednesday after doing the same on Tuesday.
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Judge's ruling raises uncertainty for health care execs

February 2, 2011
J.K. Wall
After a federal judge in Florida struck down the entire health reform law, investors shrugged. But the uncertainty for executives in health care companies increased.
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Marcadia may fetch up to $537 million in sale

February 2, 2011
J.K. Wall
The December sale of Carmel-based Marcadia Biotech to Roche garnered at least $287 million—and as much as $537 million—for the company’s owners and could lead the Marcadia management team to launch a firm using one of Marcadia’s experimental diabetes medicines.
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Report: Gifts to universities flat despite market recovery

February 2, 2011
Bloomberg News
College fundraising was flat during the 2010 fiscal year as a recovering stock market failed to instill donors with confidence. But Indiana University bucked the trend.
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For-profit colleges make costly loans, report says

February 2, 2011
Bloomberg News
Companies including ITT Educational Services Inc., DeVry Inc and Career Education Corp. are making loans with “high costs” and “predatory terms,” the group said.
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Indiana watchdogs seek probe of Duke Energy plant

February 1, 2011
Associated Press
Consumer advocates are calling for Indiana regulators to appoint an independent investigator to look into whether Duke Energy Corp. used undue influence to win state approval for a nearly $3 billion coal-gasification plant.
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Columbia Club Foundation says funds stolen by director

February 1, 2011
Scott Olson
The private club's president alerted members to the theft in a letter, but declined to specify how much was taken. Still, he said the director, who is not named in the correspondence, is making restitution.
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Pacers owner to keep Bird as team president

February 1, 2011
Associated Press
Indiana Pacers owner Herb Simon says team president Larry Bird's job is safe through the rest of the season, and he could be back next year.
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Lender seeks to foreclose on Castleton Plaza

February 1, 2011
Scott Olson
German American Capital Corp. claims the owner of the strip mall, Castleton Plaza LP—a subsidiary of Broadbent Co.—owes it $10 million. The lender is requesting the property be sold at a sheriff's sale to help satisfy the debt.
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Cumulus Media to buy out radio partners for $740M

February 1, 2011
 IBJ Staff
Atlanta-based Cumulus Media Inc. said late Monday it has agreed to acquire its partners' interest in a venture that owns 32 radio stations in nine cities, including three in Indianapolis. No local changes are expected.
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Integra Bank's auditor says situation may be dire

February 1, 2011
 IBJ Staff
Monday’s announcement is the latest ominous news for Integra, which is at risk of becoming the second Hoosier financial institution to fail since the financial crisis began in 2008.
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Cummins reports record quarterly sales, profit

February 1, 2011
Sales for the fourth quarter were $4.1 billion, up 22 percent from the same period in 2009. Quarterly profit of $362 million, or $1.84 per share, exceeded analyst expectations.
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Indiana House, Senate cancel work due to ice storm

February 1, 2011
Associated Press
The Indiana House and Senate have cancelled plans to work Tuesday because of the ice storm that's sweeping across central Indiana.
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Rolls-Royce wins a pair of military contracts

February 1, 2011
 IBJ Staff
Indianapolis manufacturer lines up deals with the Navy and Air Force worth a total of $225 million.
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House passes measure fixing unemployment fund

January 31, 2011
Associated Press
The Indiana House approved a bill Monday to help fix the state's bankrupt unemployment insurance fund by reducing jobless benefits for some people and softening tax increases on businesses.
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St. Louis firm pursuing local retail, industrial properties

January 31, 2011
Tom Harton
Bianco Properties has purchased its fourth Indianapolis property in less than five years and is pursuing more deals here.
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Indiana House OKs smoking ban with bars exempted

January 31, 2011
Associated Press
The Republican-led House voted 68-31 Monday to approve the bill, which now moves to the GOP-controlled Senate for consideration.
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Florida judge strikes down health care overhaul

January 31, 2011
Associated Press
A federal judge ruled Monday that the Obama administration's health care overhaul is unconstitutional, siding with 26 states, including Indiana, that sued to block it.
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Candy Dynamics expands Nuclear Sludge recall

January 31, 2011
 IBJ Staff
Carmel-based Candy Dynamics has expanded a voluntary recall of its Toxic Waste brand Nuclear Sludge products because they may contain too much lead.
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Florida marketing firm suing IRL over Izod contract

January 31, 2011
Scott Olson
Florida-based CV Sports Marketing Inc. alleges in a lawsuit that the IRL and Indianapolis Motor Speedway could owe millions of dollars in fees relating to its role in landing Izod as a title sponsor.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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