newsletter.story

Bela Fleck: The Africa Project

February 17, 2010

Feb. 19
Clowes Hall

In creating his “Tales from the Acoustic Planet” recordings, Bela Fleck collaborated on location with musicians from Uganda, Senegal, Madagascar and elsewhere. For this tour, he’s bringing along kora player Toumani Diabate, guitarists Vusi Mahlasela and D’Gary, and pianist Anania Ngolia. It’s a world away from anything you hear on Top-40 radio, and it should be an ear-opener. Details here.
 

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Carmen Deedy's "Stories for the Journey Home"

February 17, 2010

Feb. 20
Indiana History Center

Sometimes authors’ names simply don’t register with readers. In fact, it wasn’t until I started researching the performer who will be onstage at this Storytelling Arts event that I realized Carmen Deedy is the author of “The Library Dragon,” a book I had read many times to my kids.

When Deedy comes to town this weekend, though, the audience should primarily be adults. She’ll be telling “Stories for the Journey Home,” which presumably concerns her Cuban roots, her emigration to the United States, and her dual heritage. Details here.
 

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Leasing/leasing contracts

February 16, 2010
-Wild Sales Inc. leased 49,500 square feet of warehouse space at 17401 Tiller Court, Westfield.  The tenant was represented by Paul Rogozinski of Veritas Realty LLC. The landlord, J Investments, was represented by Bart Book of Colliers Turley Martin Tucker.

-Backhaul Direct LLC leased 16,213 square feet of office space at Allen Plaza, 1 Virginia Ave. The tenant was represented by Andrew D. Martin and Bennett M. Williams of Colliers Turley Martin Tucker. The landlord, Jefferson Plaza LLC, was represented by Greg Allen and John Cunningham of Allen Commercial Group.

-Mutual of Omaha Insurance leased 4,388 square feet at 9100 Keystone Crossing. The tenant was represented by Spero Pulos and Mark Holtzlander of Grubb & Ellis Harding Dahm & Co. John Robinson of Jones Lang LaSalle represented the landlord, Keystone Investors LLC.

-Fireplace Builders of Indiana leased 3,736 square feet at South Greenwood Shoppes, 6001 N. US 31, Whiteland. Cathy Richards of Grubb & Ellis Harding Dahm & Co. represented the landlord, HRCP, and the tenant.

-Smith & Son leased 3,840 square feet at 5524 Fortune Circle South. The tenant was represented by Kelly Williams of Colliers Turley Martin Tucker. The landlord, Blue Real Estate, was represented by Brian Buschuk and Jake Sturman of Jones Lang LaSalle.

-WB McCloud renewed its lease for 3,000 square feet at 2645 Rand Road. The tenant was represented by Dustin Looper and Yumi Prater of Resource Commercial Real Estate. The landlord, Blue Real Estate, was represented by Brian Buschuk and Jake Sturman of Jones Lang LaSalle.

-PharmaSource leased 1,500 square feet at Library Park, 1701 Library Boulevard, Greenwood. The tenant was represented by John Stone of Stone Realty LLC. The landlord, Ennis Co., was represented by Cathy Richards of Grubb & Ellis Harding Dahm & Co.

-Eyebrows Threading by Afraa leased 1,366 square feet at Greenwood Shoppes, U.S. 31 and Frye Road. The landlord, The Broadbent Co., was represented by Drew Kelly. The tenant represented itself.

-Chateau Thomas Winery leased 2,000 square feet at Fishers Town Commons, 116th Street and Fishers Pointe Boulevard. The landlord, The Broadbent Co., was represented by Brian Broadbent. The tenant represented itself.

-Dr. David Bax leased 1,205 square feet at South Point Professional Center, 5144 E. Stop 11 Road. The tenant was represented by Mark Holtzlander of Grubb & Ellis Harding Dahm & Co. The landlord, Southpoint Group LLC, represented itself.
 
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Construction

February 16, 2010
Meyer Najem Construction recently completed a 5,000-square-foot renovation and 800-square-foot addition for new dental and family practice offices for the Madison County Community Health Center, 1508 Main St., Elwood.
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People

February 16, 2010
David “Chano” Ciechanowicz has joined Resource Property Management as senior property manager.
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Housing

February 16, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity dropped 1.2 percent for the week ended Feb. 5, according to the Mortgage Bankers Association. Rates for 30-year loans decreased to 4.94 percent from 5.01 percent the previous week. Fifteen-year mortgage rates were steady at 4.33 percent.
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Wishard construction project enjoying cheap debt

February 10, 2010
J.K. Wall
The Health & Hospital Corp. of Marion County got good news in its first round of borrowing to finance a new Wishard hospital: The cost is less than expected.
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Lebanon startup driving hard deal

February 10, 2010
J.K. Wall
VoCare Inc. wants $4 million in cash and tax incentives to open headquarters and call center it says could employ 300 people.
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Company news

February 10, 2010

It’s the most famous rate hike in the country now. And that’s not good news for WellPoint Inc. The Indianapolis-based health insurer’s California subsidiary will raise customers’ premiums by as much as 39 percent this year, according to the Associated Press. That alarmed President Obama, who is trying to resurrect his health reform efforts. He cited the WellPoint rate hike in his Sunday interview with Katie Couric on CBS. "That's a portrait of the future if we don't do something now," Obama said. Also, Obama’s health secretary, Kathleen Sebelius, fired off a letter to WellPoint, demanding an explanation. The Obama administration has no authority in the matter, and the California insurance department says it can do nothing about a rate hike unless WellPoint’s pricing violates state rules. But California Insurance Commissioner Steve Poizner is hiring an outside actuary to make sure WellPoint’s rate hike won’t breach a state threshold that no more than 30 percent of premiums pay for overhead and profits. WellPoint, in a statement, blamed the rate hike on the weak economy, which has reduced WellPoint’s customer base by eliminating 7 million jobs, and on ever-rising costs for medical care. The rate hike "highlights why we need sustainable health care reform to manage the steadily rising costs of hospitals, drugs and doctors," the statement said.

 

Eli Lilly and Co. Chairman and CEO John C. Lechleiter received $16.4 million in total compensation last year, a 33.6-percent increase. The rest of Lilly’s executive team got an average 25.4-percent pay hike. The majority of pay for the top five Lilly executives came in the form of stock-based awards. But Lilly's stock performance has been dismal the past two years. Indianapolis-based Lilly faces a raft of patent expirations in the next five years that could sap more than half its current revenue. On top of that, it has suffered numerous setbacks on bringing drugs to market. Therefore, investors have sent Lilly’s stock price tumbling. Even counting Lilly’s substantial dividend, investors suffered a 21-percent loss in value in 2008 and another 6-percent loss in 2009. By contrast, Lilly’s profits have grown by double-digits each of the past two years.

 

Dublin, Ohio-based health care products distributor Cardinal Health LLC says it plans to cut more workers at its Indianapolis distribution center, bringing the number of recent layoffs to 49. Cardinal Health notified the state on Feb. 3 that it laid off 37 workers at the end of January and plans to lay off 12 more effective April 3. The center is at 6812 Corporate Drive on the city’s northwest side. The cuts eliminated 44 warehouse-operations associates, two operations managers, two warehouse supervisors and an assistant administrator. About 25 employees will be left at the facility after the layoffs.

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People

February 10, 2010

Community Health Network has promoted Jane Callahan, a registered nurse, to vice president for physician services, although she will keep her key duties: physician recruiting, partnering and credentialing. Callahan, a 30-year veteran at Community, is also president emeritus of the board of directors for the Indianapolis affiliate of Susan G. Komen for the Cure.

Dr. Gerald C. Walthall, has been appointed chairman of the central Indiana regional board of directors of the Sisters of St. Francis Health Services Inc. The Catholic hospital organization operates three hospitals in Beech Grove, Indianapolis and Mooresville. Walthall is a retired ear, nose and throat doctor. He is medical director of the St. Francis’ palliative medicine team in central Indiana.

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"With Malice Toward None"/"With Charity For All"

February 10, 2010

Feb. 12-April 11/Feb. 12-July 25
Indiana State Museum

The Indiana State Museum doubles up on Abraham Lincoln exhibitions. The first is a traveling tour of items from the Library of Congress that’s hitting only five museums across the country. It includes the Bible on which Lincoln—and Barack Obama—took the oath of office. The second is composed of materials recently acquired from the Lincoln Financial Foundation Collection, including signed copies of the Emancipation Proclamation. Details here. And to check out my video tour of the exhibitions, visit here after Saturday, Feb. 13.
 

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"My Fair Lady"

February 10, 2010

Feb. 12-14
Indianapolis Civic Theatre

Classics, in hindsight, always seem like the result of destiny. But their back stories are often less confident. In the case of “My Fair Lady,” for instance, success was far from guaranteed. George Bernard Shaw didn’t want his play, “Pygmalion,” to be musicalized at all. His death, however, opened the door to that possibility. Still, Rodgers and Hammerstein couldn’t make it work and, on first effort, Lerner and Loewe couldn’t, either—how could a musical exist with all this dialogue and without a secondary romantic couple? In fact, it was only after Lerner and Loewe took a two-year hiatus from the project that they figured out how to make “My Fair Lady” into theatrical magic—and, even then, star Rex Harrison almost didn’t come out of his dressing room before opening night.

Now gilded as one of the great works of musical theater, “My Fair Lady” is being given a new look by Indianapolis Civic Theatre, which is offering it as part of its Broadway Concert Series. That means the orchestra is on stage, the actors may be carrying scripts, and set and costumes are minimal. Forget theatrical conventions and, instead, go and soak up the sound of one of Broadway’s best. Details here.
 

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"From Shakespeare with Love"

February 10, 2010

Feb. 12-13
The Athenaeum


The latest creation from the Indiana Ballet Company weaves together choreography by Alyona Yakovleva, Shakespeare sonnets read by Butler University visiting theater teacher—and member of the Royal Academy for the Dramatic Arts—Tim Hardy, and period music by The Dragonscale Consort. We’re not sure if this will bring us closer to figuring out who Shakespeare’s “dark lady” was, but it should make for a lovely evening of dance theater. Details

here

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Also this week:

February 10, 2010

Cirque du Soleil presents “Alegria,” Feb. 11-14 at Conseco Fieldhouse. Details here.  
 
Indiana Repertory Theatre presents Joan Didion’s “The Year of Magical Thinking,” Feb. 16-March 9. Details here.
 
Gregory Hancock Dance Theatre presents “Under the Big Top,” Feb. 12-28 at the  Academy of Gregory Hancock Dance Theatre in Carmel. Reservations required. Details here.
 
Butler Ballet presents its “Midwinter Dance Festival,” Feb. 12-13 at Clowes Hall. Details here.
 
Theatre on the Square presents a double bill of hits from past Indy Fringe festivals, "Mr. Charles Currently of Palm Beach" and "A..holes and Aureoles," Feb. 12-27. Details here.
 

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People

February 9, 2010
Jenna Barnett has been promoted to partner at Halakar Real Estate.
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Construction

February 9, 2010
-Alt Construction has completed a 1,000-square-foot optometry office build-out at 755 W. Carmel Drive for Dr. Sam Ramschlag.

-Kort Builders has completed a 1,400-square-foot office at 6845 Bluff Road, Suite 26, for Christie Vision Care.

-Kort Builders has completed a 1,600-square-foot retail space for Solar Nail Salon in Nora Plaza, 1340 E. 86th Street, Suite 54.

-Kort Builders has started construction of a 4,000-square-foot retail space at 13971 Hamilton Town Center Blvd., Noblesville, that will house a Rue 21 retail store. The client is Simon Property Group.
 
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Housing

February 9, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity grew 21 percent in the week ended Jan. 29, according to the Mortgage Bankers Association. Rates for 30-year loans decreased to 5.01 percent from 5.02 percent the previous week. Fifteen-year mortgages decreased to 4.33 percent from 4.34 percent.
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Sales/acquisitions

February 9, 2010
Parts Carnival LLC purchased 31 acres at the site of the former Chrysler Foundry at 900 and 1100 S. Tibbs Ave. Bob Lindgren of Grubb & Ellis Harding Dahm & Co. represented the buyer. The seller, Indy Assett LLC, was represented by Bill Brennan of Grubb & Ellis Harding Dahm & Co. The price wasn’t disclosed.
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Leasing/leasing contracts

February 9, 2010
-NTS Corp. leased 10,825 square feet at 5701 Fortune Circle South. Brian Buschuk and Jake Sturman of Jones Lang LaSalle represented the landlord, Blue Real Estate. The tenant represented itself.

-Trans-Expedite leased 8,000 square feet at 2710 Rand Road. The tenant was represented by Mark Stephenson of Sigma Real Estate. The landlord, Blue Real Estate, was represented by Brian Buschuk and Jake Sturman of Jones Lang LaSalle.

-Cartridge World leased 6,000 square feet at 2657 Rand Road. The tenant was represented by Ted McClure of McClure Commercial Real Estate. The landlord, Blue Real Estate, was represented by Brian Buschuk and Jake Sturman of Jones Lang LaSalle.

-Michaels & Associates Inc. leased 4,800 square feet at 5624 W. 73rd St. The tenant was represented by Debbie Shumate of Grubb & Ellis Harding Dahm & Co. The landlord, Park 100 Investment Group LLC, was represented by Brett Spitzer and Joe Howell of NAI Olympia Partners.
 
-Borges Real Estate leased 3,540 square feet at Vista Professional Center, 420 S. Emerson Ave., Greenwood. The tenant was represented by LaVonne Borges of Borges Real Estate. The landlord, Adelphia Properties LLC, was represented by Cathy Richards of Grubb & Ellis Harding Dahm & Co.

-S&E Salon leased 2,000 square feet at Lafayette Shoppes, 38th Street and Georgetown Road. The landlord, The Broadbent Co., was represented by Broadbent's Drew Kelly. The tenant represented itself.

-The Cabin Counseling and Resource Center leased 2,400 square feet at 220/230 S. Elm St., Zionsville.  The tenant was represented by Tammy Kelly of the commercial division of Re/Max Ability Plus. The landlord, R.E. Bender Family Ltd. Partnership, represented itself.

-Symetra Financial Corp. leased 2,390 square feet at 3500 Depauw Blvd. The tenant was represented by George Crawford of Meridian Real Estate. The landlord, CP Pyramid Associates LP, was represented by David A. Moore, Darrin L. Boyd and Bennett Williams of Colliers Turley Martin Tucker.

-Dr. Bryan Roy leased 1,717 square feet at Eagle Highland Office Park, 6825 Parkdale Place. The landlord, G&E Healthcare REIT Medical Portfolio 3, was represented by Debbie Shumate of Grubb & Ellis Harding Dahm & Co. The tenant represented itself.

-American Nursing Care LP leased 1,677 square feet of office space at 6515 E. 82nd St. The tenant was represented by Nancy Ryan of Vollmer Real Estate. The landlord, Brookfield Real Estate Opportunity Group, was represented by David A. Moore and Darrin L. Boyd of Colliers Turley Martin Tucker.

-Eagle Creek Counseling Services leased 1,250 square feet at Eagle Highland Office Park, 3935 Eagle Creek Parkway. The landlord, G&E Healthcare REIT Medical Portfolio 3, was represented by Debbie Shumate of Grubb & Ellis Harding Dahm & Co. The tenant represented itself.
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Owners, developers see silver lining in health care real estate

February 9, 2010
Tom Harton
Health care real estate has survived the nation’s weak economy better than most sectors, and some owners and developers think it’s positioned to thrive.
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Company news

February 3, 2010

The federal Medicare program will conduct a demonstration project using the Indianapolis-based Indiana Health Information Exchange to examine the impact of a multi-payer quality reporting and pay-for-performance incentives. Medicare will feed its patient data into IHIE’s Quality Health First program, which combines data from health insurers with patient medical records to help physicians track the quality of their care. Already, Anthem Blue Cross and Blue Shield of Indiana is offering bonus payments based on how well doctors do at managing their patients’ health in key areas. The Medicare program will allow IHIE to share in a portion of Medicare savings achieved once quality of care and cost objectives are met.

St. Vincent Health made it official on Feb. 1. Washington County Memorial Hospital in Salem is now St. Vincent Salem Hospital. The 25-bed facility will cost Indianapolis-based St. Vincent $3.5 million over five years in a lease-to-buy agreement. St. Vincent executives have been managing the hospital for 18 months, including during its bankruptcy reorganization, which began in June. The Salem hospital is the 18th in St. Vincent’s statewide network.

The National Institutes of Health’s National Eye Institute has awarded Teri Belecky-Adams, professor of developmental biology at IUPUI’s School of Science, a $1.25 million grant to study astrocytes in the optic nerve. Astrocytes are cells that make it difficult for the brain to heal and to overcome injury or disease. By understanding what kind of factors regulate certain gene expressions in astrocyte cells in the optic nerve, scientists hope to gain a deeper knowledge of brain injuries and the brain’s response to disease and injury. The study is a collaborative effort between the IU Center for Regenerative Biology and Medicine, scientists within the IU School of Medicine, and researchers at the University of Wisconsin.

Biologics LLC, which makes mobile labs and manufacturing buildings for biotech firms, will locate its headquarters in Brownsburg, and plans to create at least 50 jobs by 2013. The company plans to invest $14.6 million in machinery and equipment and lease 7,500 square feet in the Brownsburg Motorsports Park before constructing a manufacturing plant in 2011. The Indiana Economic Development Corp. offered Biologics up to $550,000 in tax credits to support the company's job creation.  Hendricks County and the town of Brownsburg will consider additional property tax abatements.

AMPATH, a joint partnership between Indiana University School of Medicine, Moi University School of Medicine and Moi Teaching and Referral Hospital, has received another $5 million USAID grant to expand health care services in western Kenya. AMPATH, which stands for the Academic Model Providing Access to Healthcare, received a $60 million grant in 2007 from USAID, or the United States Agency for International Development. More than 100,000 Kenyans receive HIV/AIDS treatment through USAID-AMPATH’s system of community health workers in 23 full-time clinics and 23 satellite clinic locations.

New Jersey-based Enzon Pharmaceuticals Inc. closed on the sale of its specialty pharmaceutical business, including a plant in Indianapolis, to Italian-owned Sigma-Tau Group. The deal could be worth up to $300 million. Locally, Enzon’s plant at 6925 Guion Road makes drugs to treat leukemia, meningitis, fungal infections and the “bubble boy disease” immune disorder. The plant employs about 100 workers, and the manufacturing operations will remain in Indianapolis, Sigma Tau spokesman Marc Tewey said.

Fourth-quarter profit fell 19 percent, to $69 million, at Indianapolis-based Dow AgroSciences as the company spent more on research and marketing expenses related to its seed business ramp-up. Revenue rose 17 percent, to $1.1 billion, from the same period in 2008. For all of 2009, Dow Agro, a subsidiary of Michigan-based Dow Chemical Co., reported revenue of $4.5 billion, down from $4.6 billion in 2008. Annual earnings before interest, taxes, depreciation and amortization dropped to $577 million from $892 million.

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Corrections

February 3, 2010

An item in the Jan. 13 Health Care & Reform Weekly should have said Meritain Health, which administers a health plan for the city of Evansville, is based in Buffalo, N.Y.

An item in the Jan. 27 Health Care & Reform Weekly should have said Julia Mullholland and Lori Shufflebarger were appointed to the board of directors for the Hendricks Regional Health Foundation, not the board of the hospital system itself.

 

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Health firms still attracting venture capital

February 3, 2010
J.K. Wall
The uncertainty of health care reform and a bad economy curtailed venture capital flow in 2009. That trend hit Indianapolis, but the rest of the state actually saw an increase.
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Q&A: Dr. Kristine Courtney

February 3, 2010
J.K. Wall
Dr. Kristine Courtney, Eli Lilly and Co.’s senior director of corporate health services, describes how and why the company spent two years making its clinics some of the first to electronically swap patient records with a local hospital database.
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Employers still fretting about health care reform

February 3, 2010
J.K. Wall
As congressional Democrats work behind closed doors to save health reform legislation, they face a persistent obstacle: super-majorities of employers and employees are convinced reform will raise their costs.
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  1. 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.

  2. If you only knew....

  3. 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.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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