News & Analysis

Failed bid to take Emmis private costing millions

September 16, 2010
Scott Olson
Emmis CEO Jeff Smulyan's JS Acquisition LLC has racked up takeover expenses of $10.2 million, a figure that's sure to escalate now that JS Acquisition is suing its one-time financier for backing out of the deal.
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Bank suing Estridge Cos. for securities fraud

September 16, 2010
Scott Olson
Bank of Indiana files complaint against the home builder, alleging it failed to repay a $1 million investment due June 30. The complaint further accuses law firm Krieg DeVault LLP of malpractice and breach of fiduciary duty.
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Former councilman indicted in strip club case

September 16, 2010
Francesca Jarosz
Federal officials on Thursday charged a former City-County Council member in an extortion scheme to use his official position to grease the wheels for opening a strip club, taking $6,000 in exchange for the help.
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LEADING QUESTIONS: Butler's Fong talks sports, Stevens

September 16, 2010
Mason King
LQ_Fong_WatchVideo3The university president likens his role to that of a major-league manager, but retaining talent like Brad Stevens is just the start.
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Tower manager proposes 4th Artsgarden skywalk

September 16, 2010
J.K. Wall
Reit Management & Research LLC made a presentation Wednesday to the Indianapolis Metropolitan Development Commission for its plans to build a pedestrian walkway between Circle Centre mall and PNC Center.
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U.S. homes lost to foreclosure up 25 percent this year

September 16, 2010
Associated Press
August makes the ninth month in a row that the pace of homes lost to foreclosure has increased on an annual basis. Banks have been stepping up repossessions to clear out their backlog of bad loans.
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Republicans: Force state to live within means

September 15, 2010
Associated Press
House Minority Leader Brian Bosma, R-Indianapolis, said the state's next two-year budget doesn't have to be "honestly balanced," meaning the state could spend more than it takes in by dipping into reserves if the economy continues to sag.
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Daniels says no presidential pitch made at dinners

September 15, 2010
Associated Press
Indiana Gov. Mitch Daniels said Wednesday he has hosted about a dozen dinners with top Republican fundraisers and business and policy leaders, but never pitched himself as a potential presidential candidate.
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Smulyan-led firm sues backer over failed Emmis deal

September 15, 2010
Andrea Muirragui Davis
Emmis Communications Corp. CEO Jeff Smulyan’s JS Acquisition LLC is suing its one-time financier for backing out of a deal to take the Indianapolis-based media company private.
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UPDATE: Schrenker pleads guilty to securities fraud

September 15, 2010
 IBJ Staff and Associated Press
Former money manager admits to bilking friends, family members and other investors out of millions of dollars before trying to fake his own death. He'll be sentenced Oct. 7.
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Defendant pleads guilty in $880M fraud case

September 15, 2010
 IBJ Staff and Associated Press
A Florida man with ties to the founder of Indianapolis-based Williams Realty Group pleaded guilty Wednesday to running a multistate Ponzi scheme that prosecutors say left investors with up to $100 million in losses.
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UPDATE: New tech jobs come with handsome wages

September 15, 2010
J.K. Wall
Mobi Wireless expects to pay average wages of more than $50,000 to 253 new workers; Bostech Corp. expects to pay more than $80,000 to 61 new employees.
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Factory production creeps up again

September 15, 2010
Associated Press
Production at U.S. factories grew in August for the 12th time in 14 months, but at a slower rate than earlier this year.
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Tech companies adding 314 jobs in Zionsville

September 15, 2010
Two tech companies located in Northwest Technology Center in Zionsville plan to invest $3.6 million and add 314 jobs over the next four years, officials announced Wednesday morning.
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Community moves to integrate doctors

September 15, 2010
J.K. Wall
Health Care watch videoCommunity Health now has about 550 physicians, either on its payroll or committed through integration contracts, who have some of their pay hinge on measures of quality and communication. CEO Bryan Mills says the hospital system is looking to add even more.
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State insurance chief Cutter dies

September 15, 2010
J.K. Wall
Indiana Insurance Commissioner Carol Cutter passed away Sept. 6 in Indianapolis after a months-long struggle with illness. She was 67. Cutter had been on leave from the department since January.
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City finance chief to leave post for state role

September 15, 2010
Francesca Jarosz
City Controller David Reynolds, who started with the city when Mayor Greg Ballard took office in January 2008, has accepted a job as senior fiscal analyst for the Indiana Senate's Republican majority caucus.
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Senate panel refuses to fund GE engine made by Rolls-Royce

September 14, 2010
 IBJ Staff and Bloomberg News
The decision holds potential bad news for Indianapolis engine maker Rolls-Royce, which produces the engines. Rolls-Royce is the region's second-largest manufacturer, behind Eli Lilly and Co., with about 4,300 local employees.
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Library slashes hours, to close main branch on Thursdays

September 14, 2010
A big reduction in hours is expected to save the Indianapolis-Marion County Public Library about $1.5 million next year, as it grapples with a $4 million revenue shortfall.
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Filmmaker Low planning Indy 500 movie for IMAX 3D

September 14, 2010
 IBJ Staff
The award-winning filmmaker behind such giant-screen gems as “The Ultimate Wave” and “Super Speedway” is developing an IMAX 3D movie focused on the Indianapolis 500-Mile Race and the evolution of motorsports.
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Conseco Fieldhouse to get new video signage

September 14, 2010
Scott Olson
The new "video ribbon," which could cost up to $1.6 million, will be paid for with funds from the Capital Improvement Board. It will be installed around the entire upper fascia of the arena between the second and third levels.
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Court delays hearing on Indiana school funding lawsuit

September 14, 2010
Associated Press
Hamilton Southeastern Schools, Franklin Township Schools and Middlebury Community Schools sued the state in February, claiming the school funding formula unfairly penalizes growing districts.
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U.S. retail sales increase for second straight month

September 14, 2010
Bloomberg News
Purchases increased 0.4 percent, following a 0.3-percent gain in July. Seventeen tax-free holidays in August probably drew more shoppers to malls, where discounts were deeper than those in July.
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Cummins awarded $6.9 million Army contract

September 14, 2010
The three-year deal calls for the Columbus, Ind.-based diesel engine manufacturer to develop a power train that improves efficiency by reducing fuel consumption and noise, and can run on a wide range of fuels and fuel mixtures.
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Fishers becomes draw for seniors projects

September 14, 2010
Tom Harton
One skilled-care facility is about to open and another will break ground this month.
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  1. I am also a "vet" of several Cirque shows and this one left me flat. It didn't have the amount of acrobatic stunts as the others that I have seen. I am still glad that I went to it and look forward to the next one but I put Varekai as my least favorite.

  2. Looking at the two companies - in spite of their relative size to one another -- Ricker's image is (by all accounts) pretty solid and reputable. Their locations are clean, employees are friendly and the products they offer are reasonably priced. By contrast, BP locations are all over the place and their reputation is poor, especially when you consider this is the same "company" whose disastrous oil spill and their response was nothing short of irresponsible should tell you a lot. The fact you also have people who are experienced in franchising saying their system/strategy is flawed is a good indication that another "spill" has occurred and it's the AM-PM/Ricker's customers/company that are having to deal with it.

  3. Daniel Lilly - Glad to hear about your points and miles. Enjoy Wisconsin and Illinois. You don't care one whit about financial discipline, which is why you will blast the "GOP". Classic liberalism.

  4. Isn't the real reason the terrain? The planners under-estimated the undulating terrain, sink holes, karst features, etc. This portion of the route was flawed from the beginning.

  5. You thought no Indy was bad, how's no fans working out for you? THe IRl No direct competition and still no fans. Hey George Family, spend another billion dollars, that will fix it.

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