newsletter.story

Housing

August 17, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity increased six-tenths of a percent for the week ended Aug. 6, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.57 percent from 4.6 percent the previous week. The rate for 15-year mortgages fell to 3.95 percent from 4.03 percent.
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People

August 17, 2010
Alyona Tellez has joined Bridge Real Estate Advisors Inc., Carmel, as a residential adviser.
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Construction

August 17, 2010
-Kort Builders has completed a 1,300-square-foot retail space for Fuzziwig’s Candy Factory at 13971 Town Center Blvd. in Hamilton Town Center.

-Kort Builders has completed a 2,000-square-foot retail space for Sally Beauty on Greyhound Pass in Carmel.
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Company news

August 11, 2010

WellPoint Inc.’s now infamous decision to raise rates on individual customers in California as much as 39 percent was apparently made over objections by the company’s California president. Those increases by the Indianapolis-based health insurer were widely blamed for reigniting a dying health reform bill that WellPoint opposed. In an interview with the Los Angeles Times, Leslie Margolin said she worked internally to prevent WellPoint from raising rates so high and, once they did, to scale them back. The newspaper reported that Margolin and others voicing concerns about the size and timing of the hikes were overruled by WellPoint corporate executives. Margolin did not voice concerns about the increases when she was called before the California legislature to explain them, but the Times said she did apologize in a speech at Pepperdine University. WellPoint replaced Margolin last month and she told the Times she was escorted from her office by security guards, without a chance to say farewell to her employees. WellPoint said Margolin’s departure had nothing to with the rate hikes.

Officials in Gov. Mitch Daniels’ administration want to use the Healthy Indiana Plan as the vehicle to expand Medicaid coverage under the new federal health reform law—in spite of Daniels’ earlier comments that the new law would kill the three-year-old plan. According to the Associated Press, Indiana human services chief Anne Murphy sent a letter to the Centers for Medicare and Medicaid Services saying the Healthy Indiana Plan is "the natural vehicle" for expanding Medicaid coverage to Indiana residents in 2014. But when the new health law passed, Daniels described the Healthy Indiana Plan as a "program whose days are numbered" and asked Murphy to begin planning its phaseout.

Northwest Radiology Network PC recently expanded into Anderson by acquiring Madison County Imaging at St. John’s Medical Center and affiliating with Central Indiana Orthopedics of Anderson. Northwest Radiology is now providing its services to St. Vincent Heart Center of Indiana. Both St. John’s and the Heart Center are owned by the St. Vincent Health hospital system, based in Indianapolis.

The complex regulatory process for winning approval of combo medical products is the topic of next week’s Life Sciences Lunch at the Barnes & Thornburg law firm downtown. Gretchen Bowker, an Eli Lilly and Co. alumna and now chief operating officer of Pearl IRB Inc. in Indianapolis, will present, as will Julie Dykstra, a Barnes & Thornburg attorney. The Aug. 17 event, organized by the Indiana Health Industry Forum, costs $10 and starts at 11:30 a.m.

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People

August 11, 2010

Nano-Rad LLC, a West Lafayette firm developing breast cancer radiation technology, named Jim Schulz as its chief financial officer. Also, the company appointed Rance A. Winkler as research and development consultant. Nano-Rad is affiliated with the Purdue Research Park.

Nate Feltman, a former Indiana secretary of commerce, is now president of Indianapolis-based Home Health Depot Inc. Feltman is retaining an of-counsel position at the local Baker & Daniels LLP law firm. Feltman will co-manage Home Health Depot with CEO David Hartley.

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Housing

August 10, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity increased 1.3 percent for the week ended July 30, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.6 percent from 4.69 percent the previous week. The rate for 15-year mortgages fell to 4.03 percent from 4.12 percent.
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People

August 10, 2010
Robert E. Christman has started Bridge Real Estate Advisors Inc. at 600 E. Carmel Drive, Suite 269, Carmel. The firm will work with residential buyers and sellers in Hamilton, Marion and Boone counties and with commercial clients in the acquisition, disposition and leasing of office and light industrial flex space.
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Sales/acquisitions

August 10, 2010
-Duke Realty sold a 91,067-square-foot building on 6.4 acres at 7820 Innovation Blvd. and an adjacent 13.1-acre parcel within Woodland Corporate Park to AIT Laboratories. The price was not disclosed. The buyer was represented by Steve Pittman and Nick Churchill of Pittman Real Estate Services. The seller represented itself.

-ABS Auto Sales Inc. bought 4.72 acres at 565 S. Warman Ave. The price wasn’t disclosed. The buyer was represented by Bill Brennan of Grubb & Ellis Harding Dahm & Co.  The seller, Indy Asset LLC, represented itself in the transaction.

-Open Door Baptist Church of Indianapolis bought a 5,000-square-foot church and adjoining residence at 5360 and 5362 W. 16th St. The price wasn’t disclosed. The buyer was represented by Rich Thomas of Dan Moore Real Estate Services. The seller, St. Luke’s UCC, was represented by Cindy Hoskinson and Herb Feldmann of Grubb & Ellis Harding Dahm & Co.
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Leases/leasing contracts

August 10, 2010
-True Fair Supermarkets LLC leased 30,464 square feet of retail space at 5615 W. 38th St. The tenant was represented by Rick Jones and Bob Lindgren of Grubb & Ellis Harding Dahm & Co. The landlord, Town West Station LLC, represented itself.

-Indiana Tech renewed its lease for 19,806 square feet at 3500 DePauw Blvd. The tenant was represented by Yumi Prater and Sam Smith of Colliers International. The landlord, CP Pyramid Associates LP, was represented by David Moore of Cassidy Turley.

-Sponsel CPA Group subleased 11,572 square feet at Capital Center, 251 N. Illinois St. The tenant was represented by Michael R. Semler of Cassidy Turley. The sublandlord, Indiana Secondary Market for Education Loans Inc., was represented by Sam Smith, Eric Kemp and Ryan Conrad of Colliers International.

-Mesh Restaurant LLC leased 9,588 square feet at 725 Massachusetts Ave. The landlord, 721 Mass Ave. LLC, was represented by Scot Courtney and Bob Lindgren of Grubb & Ellis Harding Dahm & Co. The tenant represented itself.

-3DT Holding LLC & FlowCo Inc. subleased 5,637 square feet at Capital Center, 251 N. Illinois St. The tenant was represented by Lynn Fischer of Fischer & Associates. The sublandlord, Indiana Secondary Market for Education Loans Inc., was represented by Sam Smith, Eric Kemp and Ryan Conrad of Colliers International.

-Puppy Playground LLC leased 5,500 square feet at Rockville Road Plaza, 7230 Rockville Road. The tenant was represented by Dave Harstad of Re/Max Realty Professionals. The landlord, Rockville Road Partners LLC, was represented by Keith Fried of Sitehawk Retail Real Estate.

-Chase Bank leased 4,300 square feet at 1073 N Green St., Brownsburg. The tenant was represented by Mark Perlstein and Michael Cranfill of Sitehawk Retail Real Estate. The landlord, John B. Urbahns and the estate of Raymond O. Lee, was represented by Scott Levinson of Urbahns Companies.

-First Mortgage of Indiana Inc. renewed its lease for 4,206 square feet at 9292 N. Meridian St. The tenant was represented by John Robinson and Graham Summers of Jones Lang LaSalle. The landlord, Fairhill Realty LLC, was represented by Mary Anne Tobin and Matthew Broderick of Acorn Group Inc.

-Intrepid USA Healthcare Services leased 3,596 square feet at 3333 Founders Road. The tenant was represented by Graham Summers of Jones Lang LaSalle in Indianapolis and Courtney Goodall of Jones Lang LaSalle in Dallas. The landlord, Crestline Investments LLC, was represented by Matthew Broderick of Acorn Group Inc.

-Posh Boutique leased 2,400 square feet at Allyne Park, Greenwood. The landlord, Allyne Park Dynasty LLC, was represented by Liz Yoho of Providence Development. The tenant represented itself.

-Oreck of Indianapolis leased 1,567 square feet at Nora Plaza Shops, 1340 E 86th St. The tenant was represented by John Byrne of Cassidy Turley. The landlord, PK Nora LLC, was represented by Keith Fried of Sitehawk Retail Real Estate.

-Allstate Insurance leased 1,200 square feet at 2310 W. Southport Road. The landlord, Hunterwood Southport LLC, was represented by Thomas Cortese and Matthew Broderick of Acorn Group Inc. The tenant represented itself.
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Gregory Hancock Dance Theatre's "American Classics"

August 10, 2010

Aug. 13-14
Pike Performing Arts Center

Dance fans are a given audience for this performance. But students taking a concerned first look at their English 101 syllabus might also want to consider taking in this evening of contemporary dance.

Choreographer Gregory Hancock revives three of his works, each based on a great American novel or play: “The Scarlet Letter,” “Our Town” and “The Crucible.” No guarantee that it will help on your final, of course. Details here.
 

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Drum Corps International World Championships

August 10, 2010

Through Aug. 14
Lucas Oil Stadium

It’s the halftime show to beat all halftime shows as more than 5,000 marching musicians from around the world compete at Lucas Oil Stadium. The World Class Quarterfinals will be held Thursday, both the Open Class Semifinals and the World Class Semifinals will be Friday, and the Open and World Class Finals will be Saturday.

New this year is the “Come Feel the Music Festival” on Thursday featuring interactive events, free music lessons, and appearances by the West Point Hellcats and Al Chez from the Late Show Band. Details here.
 

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IBJ A&E Season Preview Tour

August 10, 2010

Upcoming Interested in having IBJ’s Arts & Entertainment Editor Lou Harry and special guests introduce Indy’s upcoming cultural season to your group? We’re scheduling these free events in September. Drop a note here with information about your group.

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Also this week

August 10, 2010

Keith Urban is joined by opener Kris Allen, Aug. 14 at the Indiana State Fair. Details here.

John Mayer performs Aug. 15 at Verizon Wireless Music Center. Details here.

Jeff Dunham brings his suitcases full of dummies to the Indiana State Fair, Aug. 18. Details here.

Tegan and Sara opens for Paramore, Aug. 19 at the Lawn at White River State Park. Details here.

Christine Peti performs the music of Broadway leading ladies, Aug. 13-14 at the Cabaret at the Columbia Club. Details here.

Tom Wright, of the Wright Brothers, performs hits from the golden age of radio, Aug. 12 at the Indiana History Center. Details here.

The Indianapolis Symphony Orchestra offers a tribute to Michael Jackson at its Aug. 13-14 Symphony on the Prairie performances. Details here.

Garfield Park Arts Center hosts a screening of “His Girl Friday” as part of Vintage Movie Night, Aug. 14. Details here.

Artists from around the state are featured at the 86th annual Hoosier Salon exhibition at the Indiana State Museum, Aug. 13-Oct. 17. Details here.
 

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Company news

August 4, 2010

With Eli Lilly, Roche Diagnostics and other large life sciences companies shedding jobs, Indiana needs small life sciences startups to fill the void. To help such companies, two former Lilly employees are starting an institutional review board that will help small companies launch clinical trials of their innovative technologies. Pearl IRB, based in Indianapolis, is run by Lilly alumnae Diana Caldwell and Gretchen Miller Bowker. It is, according to the Indiana Health Industry Forum, the first commercial institutional review board in the state. That’s significant because such boards must approve clinical trials before such research on humans can begin. Typically, universities and large hospitals have institutional review boards, but they are not normally available for researchers not affiliated in some way with those institutions.

Iraq war veteran Nate Richardson is now using his battlefield experience to launch his own business. His company, Anderson-based Coeus Technology, developed an antimicrobial liquid it says can be added to military uniforms and equipment to make them resistant to germs for longer periods of time than current products. The U.S. Army Material Command is currently testing Coeus’ MonoFoil Technology for its use. But Coeus is also pursuing sales of MonoFoil to civilian users, such as hospitals and schools. Coeus opened a year ago in Anderson’s Flagship Enterprise Center. It plans to add packing, filling and research facilities in the next two years, creating 30 to 50 jobs by 2012.

A team of researchers at Purdue University say they’ve found a new marker for prostate cancer that could replace the prostate-specific antigen (PSA) that is now the leading indicator for the disease. Purdue chemist Graham Cooks and Purdue oncologist Timothy Ratliff led the team, which found that the compound cholesterol sulfate occurs in prostate cancer tumors but not in healthy prostate tissue. That stark difference could prove better than PSA, which sometimes appears at elevated levels in prostates that are inflamed or enlarged, but not cancerous.

The California-based Howard Hughes Medical Institute has awarded $364,000 to more than double Indiana University’s repository of fruit flies, which have served as the basis of most genetic research for the past century. The Bloomington Drosophila Stock Center houses 30,000 fruit fly strains and helps develop scientific tools that are used to design new fly strains. The new grant will allow the stock center to expand to as many as 70,000 fruit fly variants. When the stock center moved from the California Institute of Technology to Indiana University 25 year ago, it was home to only 1,675 strains.

Indianapolis-based Dow AgroSciences posted a profit of $196 million, up from $140 million in the same quarter last year, according to Bloomberg News. Second-quarter revenue increased 4 percent, to $1.3 billion, for the unit of Michigan-based Dow Chemical Co. Company officials credited increased sales for Dow AgroSciences’ herbicides, including some new products, in spite of weather-related delays.

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People

August 4, 2010

Hendricks Regional Health added three physicians. Dr. Brad A. Prather, an orthopedic surgeon specializing in total joint replacements, joined Hendricks Orthopedics and Sports Medicine. Also, Dr. Anna Gilley and Dr. Shawn Fenoughty joined the Danville-based hospital’s pediatric hospitalist team.

Dr. Federico Richter, a family physician, joined Eastside Medical Center, which is part of Community Physicians of Indiana, a subsidiary of Indianapolis-based hospital system Community Health Network.
 

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Indiana State Fair

August 4, 2010

Aug. 6-12
State Fairgrounds

Headline performers at the Indiana State Fair include Rascal Flatts with Kelly Pickler on Saturday the 7, Kiss on Monday the 9, Rick Springfield on the 12 (a free show), Drake on the 13, Keith Urban on the 14, Selena Gomez on the 15, Jeff Dunham on the 18 and Sugarland on the 20.

What? You still don’t see anyone that appeals to you? Then consider a visit to the new Tribute Town event on Aug. 19 featuring bands doing their versions of music by the Rolling Stones, the Eagles and John Fogerty. For all your fair details, click here.
 

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GenCon

August 4, 2010

Aug. 5-8
Indiana Convention Center

Yes, there will be lots and lots of people—in fact, tens of thousands of them—hunched over tables of games you’ve never heard of. But this year’s massive gaming convention also includes “Hamlet vs. MacBeth: the Shakespearean SmackDown,” “Lloyd Kauffman Make Your Own Damn Movie Class,” featuring the head of Troma Entertainment, and midnight screenings of “Tank Girl,” “Tron” and “Clerks.”

Also on the schedule: a talk by Wil Wheaton of “Star Trek: The Next Generation” and “The Big Bang Theory,” an all-weekend auction—including a portion on Saturday night where all proceeds benefit the Pajama Program for poor children, an outrageous costume contest and much, much more.

And did I mention tens of thousands of people hunched over games you’ve never heard of (but might want to try)? For details, click here.
 

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"Two Gentlemen of Verona"

August 4, 2010

Aug. 6-8
White River State Park

When it comes to Shakespeare plays, I have a personal rule that may upset many an English major or teacher: I won’t read one until I’ve seen it on stage or film for the first time.

Reading a play by Shakespeare, particularly a comedy, without having seen it first in its three dimensions, feels like an academic exercise, not like the joyful experience that it should be.

I say that because Heartland Actors Repertory Theatre is returning to White River State Park this weekend with a free production of “Two Gentlemen of Verona.” The cast includes Ryan Artzberger (fresh from Phoenix Theatre’s “Reasons to Be Pretty”), Robert Neal, Sam Fain, and Phebe Taylor.

Alas, since I’ve never seen the play, I can’t honestly tell you what characters to watch for or where it ranks with “Love’s Labours Lost” or “A Midsummer Night’s Dream” or “As You Like It” –to name just three of Shakespeare’s comedies that I have seen and loved.

Come to think of it, HART has yet to stage any of these three. Here’s hoping that a successful run this year means more Bard in years to come. For details, click here.

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Also this week

August 4, 2010

Time for Three sits in with the Indianapolis Symphony Orchestra Aug. 6 at Conner Prairie. Details here.

Brown County Playhouse presents Alfred Uhry’s “The Last Night of Ballyhoo” Aug. 6-22. Details here.

Cedric the Entertainer entertains Aug. 7 at the Murat Theatre. Details here.

The Indianapolis Symphony Orchestra plays Conseco Fieldhouse for the first time with the latest installment of Video Games Live on Aug. 7. Details here.

The American Pianists Association presents 2009 Classical Fellowships Awards Finalist Igor Lovchinsky Aug. 8 at the Athenaeum’s Biergarten. Details here.

Cyprus Hill performs at The Vogue Aug. 9. Details here.

The Indianapolis Art Center offers samples of its classes at its annual Open House Sept. 10. Details here.

Eight comics, including Mike Trainor and Tony Boswell, perform for a taping of Comcast’s “Who’s Laughing Now” series at Morty’s Comedy Joint on Aug. 5. $5 and two cans of food get you in for this Gleaners Food Bank benefit. Details here.
 

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"Flipped"

July 28, 2010
Aug. 2
Hilbert Circle Theatre

The Heartland Film Festival doesn’t get rolling until Oct. 14. But that hasn’t stopped Heartland Truly Moving Pictures from arranging for Rob Reiner’s latest film, “Flipped,” to get a special screening here before its national opening. The director, along with actors Penelope Anne Miller, Anthony Edwards, and John Mahoney, are expected to attend.

A Q&A session and dessert reception will follow the presentation.

The nostalgic PG film about first love also stars Aidan Quinn and Rebecca DeMornay as well as teens Madeline Carroll (“Swing Vote”) and Callan McAuliffe.
For details, click here.

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Crossroads Repertory Theatre's "Terre Haute"

July 28, 2010
July 29-31
Indiana Repertory Theatre

One of Terre Haute’s most notorious residents was Oklahoma City bomber Timothy McVeigh. Playwright Edmund White, fascinated by the correspondence between the killer and writer Gore Vidal, created a fictional drama in which two similar men meet. The result: his 2006 play “Terre Haute.”

Crossroads Repertory Theatre—a company based in the real Terre Haute—is bringing its Midwest premiere production to Indianapolis for a one-weekend run.  Details here.

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"Tchaikovsky's Fifth Symphony"

July 28, 2010
July 30-31
Conner Prairie
Symphony on the Prairie returns to the classics with Russian conductor Andrey Boreyko and cellist Zuill Bailey sitting in for a set that includes Tchaikovsky’s Fifth Symphony, Saint-Saens’ First Cello Concerto and Rimsky-Korsakov’s “Russian Easter.” Details here.
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Also this week

July 28, 2010
The Summer Nights Film Series continues with “The Muppets Take Manhattan,” July 30 at the Indianapolis Museum of Art. Details here.

Deb Mullins performs “Bebop, Boogie & Blues” July 30 at the Cabaret at the Columbia Club. Details here.

The Bodeans perform July 30 at the Vogue. Details here.
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People

July 28, 2010

Clarian Health has appointed Chris Van Pelt as chief information officer. Van Pelt, who has been part of Clarian Information Services since October 2004, has held the position on an interim basis for nine months.

Community Home Health Services, a unit of Community Health Network, named Dr. Waqas Ghumman its associate medical director for cardiovascular services, to help Community’s staff care for heart-failure patients in their homes.
 

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Company news

July 28, 2010

Riley Children’s Foundation received a $1.5 million pledge from the Jeff Gordon Children’s Foundation to create a cancer research fund. The gift will create a $1 million endowment to fund collaborative research at Riley Hospital for Children and the Wells Center for Pediatric Research at the Indiana University School of Medicine. The remaining $500,000 will address immediate research needs at Riley hospital.

Indiana Spine Group will break ground on a 60,000-square-foot facility in Carmel on Aug. 2. The Indianapolis-based physician practice says it will be able to provide care for any spinal disorder at the center. Located just south of the St. Vincent Carmel Hospital, the facility will open in the fall of 2011. Indiana Spine Group will relocate its practice, which is currently near St. Vincent Indianapolis Hospital.

Eli Lilly and Co.’s profits spiked 16 percent in the second quarter to $1.3 billion, or $1.22 per share, handily beating expectations of Wall Street analysts. Revenue at the Indianapolis-based drugmaker rose 9 percent to $5.7 billion in the quarter. The company raised its year-end profit forecast by a dime a share, to a range of $4.50 to $4.65, excluding special items.

Zimmer Holdings Inc. also topped Wall Street expectations for second-quarter profit. The Warsaw-based maker of orthopedic implants turned a profit of $165.5 million, or 82 cents per share. But it spent $86.5 million on legal claims and an acquisition. Excluding those costs and special tax savings, the company would have earned $221.2 million, or $1.09 per share—four cents above analysts’ expectations, according to Thomson Reuters. Sales rose 3 percent to $1.06 billion.

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  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!

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