News & Analysis

Health care firm plans 500 jobs in Indianapolis

October 29, 2010
 IBJ Staff
St. Louis-based Ascension Health announced Friday morning that it would open a professional service center in Indianapolis, creating up to 500 jobs by 2013.
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More job losses coming at doomed manufacturing plant

October 29, 2010
 IBJ Staff
Automotive Components Holdings, which makes hydraulic steering systems for Ford Motor Co., notified the state this week that it plans to permanently lay off 26 employees during the first two weeks of 2011.
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Lender Oak Street acquired by New York firm

October 28, 2010
 IBJ Staff
Carmel-based insurance lender Oak Street Funding LLC announced Thursday that it has been purchased by private equity funds managed by New York-based Angelo Gordon & Co.
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Veolia losing water contract, will get $29M termination fee

October 28, 2010
Chris O'Malley
Playing a limited role under Indianapolis Water's new owner, Citizens Energy, wouldn't be profitable, Veolia says. Citizens plans to make job offers to "substantially all" Veolia employees.
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Cash crunch hits Indianapolis Urban League

October 28, 2010
Kathleen McLaughlin
After losing a key grant, Indianapolis Urban League laid off employees and failed to make three months' worth of retirement payments into one former worker's account—something that was remedied after the worker complained to the Labor Department.
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Carmel couple donating $45M to University of Maryland

October 28, 2010
 IBJ Staff and Associated Press
An Indiana couple is making a $45 million donation to the University of Maryland School of Medicine, which will use the money to establish a research center to study autoimmune and inflammatory diseases.
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Baldwin & Lyons reports lower profit, higher revenue

October 28, 2010
Kathleen McLaughlin
The insurer announced Thursday morning that it earned $9.2 million in the third quarter, down from $14.3 million a year ago. Quarterly revenue rose to $67.3 million, up from $65.5 million.
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National unemployment claims drop sharply

October 28, 2010
Associated Press
Fewer people applied for unemployment benefits last week, the second drop in a row and a hopeful sign the job market could be improving.
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Tech firm to hire about 125 in Carmel

October 28, 2010
Interactions Corp., a technology firm based in Boston, plans to hire about 125 workers at its technology center in Carmel over the next few months, the company announced Thursday morning.
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Duke Realty improves third-quarter performance

October 28, 2010
 IBJ Staff
Duke Realty Corp. had its best leasing quarter in three years and boosted overall occupancy to nearly 90 percent, helping the company post a profit for the fiscal period ended Sept. 30.
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Dow Agro sales climb, but profit suffers

October 28, 2010
 IBJ Staff and Bloomberg News
Indianapolis-based Dow AgroSciences improved revenue during the third quarter thanks to a 26-percent increase in volume, but it still recorded a loss for the period.
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U.S. attorneys, FBI to watch for voter fraud, abuses

October 28, 2010
Associated Press
The FBI also will have special agents available to receive allegations of election fraud or discrimination.
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Secretary of state files complaint against teachers' fund broker

October 27, 2010
Kathleen McLaughlin
David Karandos, a broker who advised the Indiana State Teachers Association Insurance Trust before it collapsed in 2009, is facing an administrative complaint from the Indiana Securities Division, which alleges 13 violations for unethical, dishonest and deceptive practices.
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NCAA athletes improve overall graduation rates

October 27, 2010
Associated Press
The annual Graduation Success Rate shows 79 percent of all athletes entering college between 2000-01 and 2003-04 earned degrees within six years.
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Hendricks County launches tourism campaign

October 27, 2010
Andrea Muirragui Davis
Six months into a $750,000 plan to increase Hendricks County’s profile as a tourist destination, officials say group travel has doubled and hotel occupancy is up almost 3 percentage points—before an end-of-the-year push to get travelers to “Spend the Holidays in Hendricks County.”
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LEADING QUESTIONS: Home-health guru banks on empathy

October 27, 2010
Mason King
Roberts_WatchVideoJan Roberts pairs numbers and nurturing—further fueled by a fight with breast cancer —to power the city's fifth largest woman-owned business.
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Former iSalus CEO sues tech firm for breach of contract

October 27, 2010
Andrea Muirragui Davis
Mark A. Day is suing Indianapolis-based technology firm iSalus Healthcare, claiming he was dismissed without cause and is entitled to severance pay and benefits.
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Employee ire forces IU to pull wellness survey

October 27, 2010
J.K. Wall
Indiana University will no longer ask employees to fill out an online health risk assessment after more than 550 people—many anonymous—attached names to an online petition that said the plan would cause “widespread anger and disillusionment.”
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After disagreement, Lewis leaves WellPoint with $3.2M

October 27, 2010
J.K. Wall
Dijuana Lewis will get nearly $3.2 million on her way out the door at WellPoint Inc. after what sources described as a dispute with CEO Angela Braly over a change in duties.
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Orders for capital goods fall as business spending cools

October 27, 2010
Bloomberg News
The report raises the risk that business investment, which had been contributing to a rebound from the worst recession in generations, will decelerate in coming months, underscoring the Federal Reserve's concern that growth is too slow.
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Celadon's quarterly profit, revenue improve

October 26, 2010
 IBJ Staff
The Indianapolis-based trucking company reported revenue of $140.3 million for the fiscal first quarter and profit of $4.4 million.
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New estimate drops health plan's cost to Indiana

October 26, 2010
Associated Press
A new estimate has lowered the expected cost of the federal health care overhaul to Indiana's state government to perhaps $2.6 billion over the next decade.
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Cummins expanding in Columbus, plans 350 jobs

October 26, 2010
 IBJ Staff
Cummins Inc. announced Tuesday that it will expand its headquarters in Columbus, adding at least 350 professional employees during the next 18 months to support global operations.
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UPDATE: New product, services drive ExactTarget growth plans

October 26, 2010
Kathleen McLaughlin
A new product roll-out and increasing demand for client services will drive ExactTarget's growth over the next five years, CEO Scott Dorsey said Tuesday after his firm announced that it would invest $45M and add 500 employees through 2015.
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Rushville broadband firm sued by companies it acquired

October 26, 2010
Scott Olson
Omnicity Corp. is named in three lawsuits brought by owners of companies the firm bought who say they've not been paid the entire purchase price. All told, they claim they're owed more than $1.2 million.
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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. 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.

  4. If you only knew....

  5. 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.

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