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Company News

May 12, 2010

The new federal health law mandates that health insurers spend at least 80 percent of premiums on medical care for customers buying coverage on their own. But that rule may need to be loosened between now and 2014 to keep companies from quitting the market, according a draft report released Monday by the National Association of Insurance Commissioners. Bloomberg News reported that the group of state regulators is expected to send a final recommendation on the rules to U.S. officials by June 1. The new rule threatens to squeeze profits at WellPoint Inc., which has the largest share of individual customers in the industry.

WellPoint CEO Angela Braly openly objected to President Obama’s weekend criticism of the health insurer for reports that it seeks out breast cancer patients to cancel their policies. Such claims were reported last month by the news service Reuters, but WellPoint called the story “inaccurate and grossly misleading.” In a letter to Obama, Braly wrote, “If we are going to make this law work on behalf of all Americans, the attacks on the health insurance industry—a valued industry that provides coverage for more than 200 million Americans—must end.” She also noted that WellPoint paid for breast cancer coverage for 200,000 women last year and canceled the policies of just four. None of the cancellations were because the women had breast cancer, Braly said, suggesting instead that the women had misrepresented their health status. In response to criticism last month from Obama’s administration, WellPoint changed its rescission policy to match the new health law signed by Obama in March. The new law says health insurers can cancel a customer’s policy only in cases of fraud or intentional lying.

Two uninsured patients have sued the Clarian Health hospital system in Marion Superior Court for charging unreasonably high prices, according to the Associated Press. Abby Allen's bill was about $15,600 for a June 2008 hospital stay—about twice as much as the total bill would have been if she had been insured, the lawsuit claims. Walter Moore, the other plaintiff in the case, was billed $1,138 for treatment he received after an auto accident in May 2009. Clarian said it offers a financial-assistance program for uninsured and low-income patients. Hospitals typical set prices as a starting point for negotiations with health insurers based on their volume of patients. The uninsured are often the only patients charged the full price.

SonarMed, based in West Lafayette, received market approval from the U.S. Food and Drug Administration for its airway monitoring system. SonarMed’s product uses acoustic technology to catch and prevent movement or obstruction of the tube, both of which can harm patients. The technology was developed at Purdue University and licensed to SonarMed by Purdue Research Foundation's Office of Technology Commercialization.

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Lilly still waiting on once-weekly Byetta

May 12, 2010
J.K. Wall
The U.S. Food and Drug Administration last week pushed its self-declared deadline for rendering an approval decision on the drug Bydureon to Oct. 22. The previous deadline was in March.
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Q&A

May 12, 2010
J.K. Wall
Joe Guzman is a co-founder of Indianapolis-based Ascend USA, the new trade adopted after Guzman merged his benefits brokerage, Benefits Strategies Inc., with benefits business Steven Goodin. The eight-person firm expects to hire as many 15 new employees in the next year. Those workers will help Ascend diversify from health benefits into brokering commercial insurance products.
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Everclear and Stereo Deluxe

May 12, 2010

May 15
Indianapolis Motor Speedway


For most, the Indy 500 means a car race. For others, though, it means an inexpensive chance to catch some live music. Among the bands and performers coming to town for 500-related festivities: Everclear on the 15th, The Elms on 21st, Eddie “Baby Hold On” Money on the 22nd, and ZZ Top on the 28th. For a more complete schedule, click here.
 

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The Wildebeest

May 12, 2010

May 14-Sept. 26
Santa Claus

This season, the big news from Holiday World, our state’s biggest amusement park, is the launch of the Wildebeest, billed as the world’s longest water coaster. Unlike the quick-drop of last season’s debut, Pilgrim’s Plunge, this four-to-a-raft ride takes you on a 2-1/2 minute journey covering a third of a mile of drops, twists and underground tunnels. Perhaps the best part: A conveyor lift replaces the usual water slide stairs.

I look forward to riding and reporting back to you on this sure-to-get-national-attention ride. For details, click here.
 

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Jimmy Buffett

May 12, 2010

May 15
Verizon Wireless Music Center

You don’t need me to tell you that Jimmy Buffett concerts are a cultural phenomenon. You don’t need me to remind you of the lyrics of “Margaritaville” or the condition you are expected to be in for his annual visit to central Indiana. And you can’t expect me to help with the weather which, ideally, should involve sunshine and a cool breeze coming off the non-existent shore.

Instead, I can just point you toward concert information and, if you don’t already have tickets, wish you good luck and smooth sailing. Details here.
 

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Also this week

May 12, 2010

Hal Holbrook stars in “Mark Twain Tonight,” May 15 at Rose-Hulman Institute of Technology’s Hatfield Hall Theater in Terre Haute. Details here.

Rita Kohn’s play, “Before the Shadow’s Flee,” about Edwin Booth, is one of the many events offered as part of the Indiana Performing Arts Festival, May 16-20 at the Indiana State Museum. Details here.

All Star Comedy Jam, May 15 at the Murat Theatre. Details here.

Civil War Days, May 15-16 at Conner Prairie. Details here.

The Indianapolis Symphony Orchestra performs the world premiere of James Beckel’s “In the Mind’s Eye: Images for Horns and Orchestra,” May 14-15 at Hilbert Circle Theatre. Details here.

Indy Folk Series presents Hogeye Navvy, May 15 at Unitarian Universalist Church of Indianapolis. Details here.

New plays by Indiana playwrights are featured at the 2010 Bloomingplays Festival, May 14-29 at the Bloomington Playwrights Project. Details here.
 

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Sales/acquisitions

May 11, 2010
Diamond Investment Group I LLC purchased Two West Condominiums from Fifth Third Bank. The price wasn’t disclosed. The property consists of 36 residential condominiums on three floors. Jim Shook, Jon Hardy and Andrew Schrage of Coldwell Banker Commercial Realty Services represented both the buyer and the seller.
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Leasing/leasing contracts

May 11, 2010
-Case New Holland renewed its lease on an 842,000-square-foot distribution center at 400 S. Enterprise Drive and a 250,000-square-foot assembly facility at 420 S. Enterprise Drive in the Lebanon Business Park. The tenant was represented by Rick Suja of Summit Realty Group and Chris Porter of Cushman & Wakefield. The landlord, Duke Realty, represented itself.

-Bishop Steering Technology Inc. renewed its 28,000-square-foot lease at 8802 Bash St. in the Northeast Business Center. The tenant was represented by Steve Beals of Grubb & Ellis Harding Dahm & Co. The landlord, Westminster Northeast LLC, was represented by Todd Vannatta of Cassidy Turley.   

-Little Miracles Inc. leased 5,330 square feet at 5615 W. 22nd St. Don Ballard of Grubb & Ellis Harding Dahm & Co. represented the landlord, Community Bank of Raymore, and the tenant.

-Indiana Family Health Council Inc. leased 4,000 square feet at Jackson Square, 233 McCrea St. The tenant was represented by George Crawford of Meridian Real Estate. The landlord, One Jackson Square Associates, was represented by Ralph Balber and Ashley Bussell of Halakar Real Estate.

-Karia LLC, doing business as Hot Cakes Emporium, leased 3,805 square feet at Greenbriar Shopping Center, 8555 Ditch Road. Nick Smyrnis of Grubb & Ellis Harding Dahm & Co. represented the landlord, Prime Property Investors, and the tenant.

-Sling Shot SEO leased 3,157 square feet at 8900 Keystone Crossing. The tenant was represented by Bennett Williams of Cassidy Turley. The landlord, Philadelphia-based BPG Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.  

-EPSI Masking Co. leased 2,700 square feet at 8102-2176 Zionsville Road in Park 100.  The tenant was represented by Ryan Kelly of Summit Realty Group. The landlord, ProLogis, was represented by Brett Spitzer of NAI Olympia Partners.

-Reliable Water Services LLC leased 2,600 square feet at Hague Business Center, 7747 E. 89th St. The tenant was represented by Don Ballard and Stan Elser of Grubb & Ellis Harding Dahm & Co. The landlord, HBC Co. LLC/Levi Investment Realty, represented itself in the transaction.
 
-Gigi’s Cupcakes leased 1,401 square feet at Fashion Mall Commons, 8487 Union Chapel Road. The tenant was represented by Tom English and Larry Davis of Sitehawk Retail Real Estate. The landlord, Fashion Mall Commons I LP, was represented by John Bueoy of The Broadbent Co.
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Housing

May 11, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity increased 4 percent for the week ended April 30, according to the Mortgage Bankers Association. The rate for 30-year mortgages fell to 5.02 percent from 5.08 percent the previous week.  The rate for 15-year mortgages decreased to 4.34 percent from 4.38 percent.
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Construction

May 11, 2010
-D.B. Klain Builders LLC has completed an 8,644-square-foot tenant build-out for Home Health Depot at 9245 N. Meridian St.

-D.B. Klain Builders LLC has completed a 1,200-square-foot tenant build-out for Edward Jones Financial at Cumberland Point Market Place, 15880 Cumberland Road, Noblesville.
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Marketing experts: Clarian will get boost from IU name

May 5, 2010
J.K. Wall
The Indianapolis-based hospital system, which has 16 hospitals as far afield as LaPorte, Hartford City and Paoli, can now associate with all its facilities the name of the school that trains the majority of doctors and nurses throughout the state.
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Company news

May 5, 2010

No can do. Indiana Gov. Mitch Daniels was one of 15 who told the federal government they don't want to help create a temporary high-risk insurance pool. The pools, which would end when the new federal health law creates insurance exchanges in 2014, would be funded with $5 billion. But Daniels, in a letter to the U.S. Department of Health and Human Services, said he fears that money will run out before 2014 and Indiana will have to pick up the bill. Daniels noted that Indiana already operates its own high-risk insurance pool, in which about 7,000 Hoosiers participate. "In the end this was not a close call for Indiana," Daniels wrote to the feds. "The risks Indiana is being asked to take are well beyond any range of acceptability." A report by the Web site Politico.com noted that most Republican governors, like Daniels, have told the feds to create the exchange on their own while most Democratic governors have said they would help.

Oops. Shares of Indianapolis-based WellPoint Inc. have tumbled 8.4 percent since math errors and other mistakes forced the company to withdraw its requested rate hake for individual policies in California. That’s the infamous 39-percent hike (25 percent on average) that President Obama seized on to reignite his push for health reform, which became law on March 23. California insurance regulators, after investigating WellPoint’s rate-hike application, said it was based on flawed data, according to the Associated Press. WellPoint withdrew the application and said it would try again, perhaps within a month. But investors didn’t wait. They launched a selloff that dumped WellPoint shares to their lowest level since November.

SonarMed, based in West Lafayette, will receive about $450,000 over two years from the National Institutes of Health to adapt its airway monitoring system to neonatal patients. SonarMed’s product uses acoustic technology to catch and prevent movement or obstruction of the tube, both of which can harm patients. Neonatal patients are especially vulnerable, according to SonarMed, because slight movements of the breathing tube in their small, short tracheas can lead to serious complications. The technology was developed at Purdue University and licensed to SonarMed by Purdue Research Foundation's Office of Technology Commercialization.

Researchers at Indiana University School of Medicine have identified a mechanism that causes inflammation in asthma, excema, and other allergic diseases, which could help drugmakers develop new medicines to control those conditions. In research reported in the June 2010 issue of the journal Nature Immunology, the IU research team found that a regulatory factor called PU.1 activates a newly discovered type of T-cell, which appears in higher concentrations in patients with allergic disease. “Effectively targeting PU.1 to prevent its activation could lead to improved treatments for patients who must deal with the inflammation caused by these allergic diseases,” said Mark H. Kaplan, professor of pediatrics and of microbiology and immunology at the IU School of Medicine in Indianapolis. Kaplan recently received a $1.9M grant from the National Institutes of Health to continue research on this factor.
 

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People

May 5, 2010

Linda Bratcher has been named director of the Indiana University School of Medicine Office of Graduate Medical Education, overseeing training of its more than 1,000 post-graduate medical trainees. Bratcher succeeds Nancy Baxter, who served as director for 26 years prior to her retirement at the end of January.

Alon Harris, a professor of ophthalmology and physiology, has been appointed director of clinical research for the Eugene and Marilyn Glick Eye Institute at the Indiana University School of Medicine.

Ernest Vargo II, a senior consultant at Greenwood-based fund-raising firm Johnson Grossnickle & Associates, will become president and CEO of Wishard Foundation in June. Vargo takes over for Jim Wood, who resigned last year. Vargo’s top priority will be guiding the foundation’s $50 million capital campaign for the construction of the  $754 million Wishard Hospital expected to be finished by 2014.

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Jeppe Hein

May 5, 2010

May 7-Sept. 5
Indianapolis Museum of Art

    Visitors to the IMA will be spending time sitting on the work of Jeppe Hein when his “Bench Around the Lake” debuts as part of the Virginia B. Fairbanks Art & Nature Park in June. Things will be more kinetic, though, when his “Distance” appears in the Forefront Gallery on Friday. The roller-coaster-like creation is activated by sensors that, with each visitor to the gallery, set a ball in motion over a 1,000-foot track that includes loops and twists. The track even goes through walls. Details here. For a sneak peek at the bench/sculpture, click here.
 

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"Spotlight"

May 5, 2010

May 10
Clowes Hall

    More than 15 performers and groups are featured for just $15 at this annual benefit for the Indiana AIDS Fund. More than a typical fund-raiser, though, the event is a celebration featuring some of the top arts companies in the city. The lineup this year includes Dance Kaleidoscope (revisiting its lovely “For Jose”), the Indianapolis Symphony Orchestra (Bach’s “Air on the G String”), and the Indiana Repertory Theatre’s Milicent Wright with a scene from “Pretty Fire.” Those who attend will also be treated to musical numbers from Actors Theatre of Indiana’s “Nunsense” and Indianapolis Children’s Theatre’s “Schoolhouse Rock Live!,” an original work created for the event by Kenyetta Dance Company. A newcomer to the event is The (Re)Collective Company with a piece for musicians and dancers. And there’s much more. For details, click here.
 

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"Pure Prine"

May 5, 2010

May 7-16
Phoenix Theatre

Anyone familiar with the music of singer-songwriter John Prine will be going into this celebratory performance with a long wish list of tunes. For me, that list includes the misfit romance “Donald and Lydia,” the whimsical “Fish and Whistle,” the get-you-through-the-tough times “Bruised Orange,” and, of course, “Spanish Pipedream,” with the uniquely Prine lyric, “For I knew that topless lady/had something up her sleeve.” This might even be a rare chance to hear his song “Kokomo” (no, not the Beach Boy one—this one is about a soldier longing for his Indiana home).
But the truth is, Prine has written more terrific songs than a single evening can handle. And with still-green memories of Tim Grimm and Bobbie Lancaster’s outstanding performances at Hoosier Dylan, I’m looking forward to settling into Prine’s world for a few hours, even though he won’t be there. Tim Brickley (doubling as music director), Jenni Gregory, Jan Lucas and Michael Shelton round out the company.  Details here.
 

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"Night of Vonnegut""

May 5, 2010

May 8
Athenaeum

    Speaking of Tim Brickley (see above), he’ll also be leading the jazz band at this event, a fund-raiser for the Kurt Vonnegut Memorial Library Foundation. The event includes a Vonnegut look-alike contest, dramatic readings, a “My Friend Kurt” panel discussion, a silent auction of a piece of Vonnegut art, a live game show, and more. Details here.
 

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Also this week

May 5, 2010

Pearl Jam, May 7 at Verizon Wireless Music Center. Details here.

Bryan Adams, May 12 at Murat Egyptian Room. Details here.

“Always Patsy Cline,” May 6 to June 6 at Beef & Boards Dinner Theatre. Details here.

Works by local women playwrights are staged at Divafest, May 7-9 at the IndyFringe Building. Details here.

Indianapolis Symphony Orchestra and Time for Three, May 6 at Hilbert Circle Theatre. Details here.

Violinist Lara St. John joins the Indianapolis Chamber Orchestra for a program including Vivaldi’s “The Four Seasons,” May 8 at the Indiana History Center’s Basile Theatre. Details here.
 

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Correction

May 4, 2010
The landlord was misidentified in three Keystone Crossing leases reported last week. The landlord, represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle, is BPG Properties Ltd.
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Leasing/leasing contracts

May 4, 2010
-K&G Menswear leased 39,963 square feet at Castleton Crossing, 5410 E 82nd St. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate. The landlord, American National Insurance Co., was represented by Bill French of Cassidy Turley.

-Advanced Control Technologies Inc. subleased 11,820 square feet at Hillsdale TechneCenter, Building 3, 6805 Hillsdale Court. The subtenant was represented by Aasif Bade of Ambrose Property Group. The sublandlord, Reliable Water Services LLC, was represented by Don Ballard and Stan Elser of Grubb & Ellis Harding Dahm & Co.

-is.group leased 7,677 square feet at Parkwood One, 250 E. 96th St. The tenant was represented by Jon Jessup and Jeff Merritt of Summit Realty Group. The landlord, Duke Realty, represented itself.

-Shoe Trend leased 6,000 square feet at Keystone Plaza, 2335 E. 53rd St. The landlord, Keystone Plaza Associates, was represented by Larry Davis and Scott Gray of Sitehawk Retail Real Estate. The tenant represented itself.

-Center for Diagnostic Imaging/CDI Radiology leased 4,283 square feet of medical office space at Gables of Avon, 9819 E. US 36, Avon. The tenant was represented by Tim Norton of Summit Realty Group. The landlord, Gables of Avon LLC, represented itself.

-Who North America Inc. leased 4,000 square feet at 2040 S. Lynhurst Drive.  The tenant was represented by Ryan Kelly of Summit Realty Group. The landlord, ProLogis, was represented by Chris Black of CB Richard Ellis.
 
-Kforce leased 3,743 square feet at Pan Am Plaza, 201 S. Capitol Ave., Suite 1200. The tenant was represented by Katie Gray and Bill Ehret of Summit Realty Group.  The landlord, Coastal Partners, represented itself.
 
-First American Title Insurance leased 2,376 square feet of office space at 20 Executive Drive, Carmel. The tenant was represented by Matt Waggoner of Summit Realty Group. The landlord, Century 21, represented itself.

-American Family Dental Group-Bloomington LLC leased 2,296 square feet at 10435 Commerce Drive, Carmel. The tenant was represented by Darrin L. Boyd and David A. Moore of Cassidy Turley.  The landlord, West Carmel I LLC, was represented by Matt Moore of Resource Commercial Real Estate Services.

-20/20 Eye Physicians leased 2,095 square feet of medical office space at the Clarian Health Center at 4880 Century Plaza. The tenant was represented by Tim Norton of Summit Realty Group. The landlord, Clarian Health Partners Inc., was represented by Tim Craft of CB Richard Ellis.
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Housing

May 4, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity fell 2.9 percent for the week ended April 23, according to the Mortgage Bankers Association. The rate for 30-year mortgages increased to 5.08 percent from 5.04 percent the previous week.  The rate for 15-year mortgages increased to 4.38 percent from 4.34 percent.
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Construction

May 4, 2010
-Kort Builders has finished a 4,000-square-foot retail space for Ossip Optometry at 6375 S. Emerson Ave.

-Kort Builders has finished a 5,000-square-foot retail space for Reis Nichols at 789 U.S. 31 North, Greenwood.
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Q&A

April 28, 2010
J.K. Wall
Dr. Stanley Adkins is chief medical officer of Indianapolis-based AmeriVeriCR, a startup that uses software to review medical claims for errors. With health care reform and a new, larger set of diagnosis codes phasing in over the next few years, AmeriVeri is betting that demand for its service will increase.
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Chao exit hurts drug development industry

April 28, 2010
J.K. Wall
Purdue University’s decision to close the Chao Center in West Lafayette is a setback for Indiana’s effort to grow a vibrant contract drug manufacturing sector. But it’s just the latest in a series of unexpected changes—not all for the worse—since Indianapolis-based BioCrossroads launched a contract drug manufacturing initiative in late 2007.
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  1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

  2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

  3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

  4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

  5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

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