News & Analysis

Duke turns second-quarter profit on higher revenue

August 2, 2011
Bloomberg News
Duke Energy Corp., which is buying Progress Energy Inc. to become the largest U.S. utility owner, on Tuesday reported a second-quarter profit after a year-ago loss.
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Former Nordstrom space could find Super Bowl use

August 2, 2011
Scott Olson
The massive space in Circle Centre mall vacated by high-end retailer Nordstrom could be used to host corporate events surrounding the big game.
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Not-for-profit building affordable housing in Brownsburg

August 2, 2011
 IBJ Staff
Sycamore Services Inc., which serves people with disabilities, has closed on $8 million in financing to build a 72-unit apartment community in Brownsburg.
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Republic Airways blames fuel costs for $15M quarterly loss

August 2, 2011
 IBJ Staff
The Indianapolis-based company said it spent nearly $227 million on aircraft fuel in the quarter, compared with $161 million in the same period a year earlier.
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Packaging manufacturer plans to expand, add 80 jobs

August 2, 2011
Indianapolis-based DGP Intelsius LLC, a manufacturer and distributor of temperature-controlled packaging, announced on Tuesday morning that it plans to add 80 jobs by 2014 as part of an $870,000 expansion.
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Developer of government building sees potential for more

August 2, 2011
Tom Harton
Ambrose Property Group broke ground last month on a 13,000-square-foot building at Intech Park that will house about 75 Social Security Administration employees.
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Environmental groups sue to block I-69 construction

August 2, 2011
Associated Press
Citizens for Appropriate Rural Roads and the I-69 Accountability Project said the road expansion would violate federal environmental laws.
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Debt deal would have little impact on economy until 2014

August 1, 2011
Associated Press
The deal reached by Congress to raise the debt ceiling and cut more than $2 trillion in public spending should have only a minor impact on the economy for the next two years. Almost all the cuts would be made in 2014 or beyond.
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Indiana asks court to lift Planned Parenthood order

August 1, 2011
Associated Press
Indiana asked a federal appeals court Monday to lift a judge's order blocking parts of a new abortion law that cuts some public Planned Parenthood funding, saying the issue should be decided by Medicaid officials and not the courts.
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Trial starts in nanny's suit against Pacers owner

August 1, 2011
Associated Press
A nanny who worked for Indiana Pacers owner Herb Simon and his wife testified in a wrongful-firing case Monday that the couple knew of her tumultuous life, but decided to keep her on their staff.
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Keystone Towers implosion set for late August

August 1, 2011
 IBJ Staff
The long-vacant Keystone Towers apartment complex will be imploded Aug. 28 at 8 a.m., the Department of Metropolitan Development announced Monday afternoon.
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WellPoint fails to profit on consumer pullback

August 1, 2011
J.K. Wall
With recession-weary Americans going to the doctor less, health insurer WellPoint Inc. should be enjoying higher profits. But it isn’t working out that way.
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Consumers grow allergic to health care costs

August 1, 2011
J.K. Wall
Deloitte found that 20 percent of consumers have cut back on health care spending and 75 percent say the economic slowdown has had some impact on their willingness to spend on health care.
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Debt deal gaining steam in Washington, D.C.

August 1, 2011
Associated Press
A crisis-conquering deficit-reduction agreement struck by the White House and congressional leaders after months of partisan rancor picked up momentum Monday.
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Meridian latest brokerage to make affiliation move

August 1, 2011
Cory Schouten
The commercial real estate brokerage Meridian Real Estate is picking up the NAI Global affiliation previously held by Olympia Partners, which folded in January after a 20-year run.
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Cost cutting planned by Integra Bank's new owner

August 1, 2011
 IBJ Staff and Associated Press
Old National Bank President Bob Jones said an undetermined number of jobs will be eliminated, with the bulk of them being branch managers and other management positions.
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Herff Jones completes Varsity Brands acquisition

August 1, 2011
The Indianapolis-based class ring and yearbook maker has completed its acquisition of Memphis-based Varsity Brands, which manufactures and distributes apparel for cheerleading and dance activities.
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Daniels, at peace with presidential decision, running out clock

August 1, 2011
Bloomberg News
Indiana's Mitch Daniels has gone from considering a run for president to finishing out his second and last term as governor.
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Holiday World set to announce plans for $9 million ride

August 1, 2011
Associated Press
A southern Indiana amusement park will mark its 65th anniversary by unveiling plans for a $9 million ride that will be the most expensive in the park's history.
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Lugar: Norquist tax pledge, others hamper Congress

July 31, 2011
Associated Press
Sen. Richard Lugar is the only Republican in the state's Congressional delegation who hasn't signed Norquist's pledge, which requires the signer to "oppose and vote against any and all efforts to increase taxes."
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NFL's new 'salary floor' could challenge ColtsRestricted Content

July 30, 2011
Anthony Schoettle
Bigger player payrolls under the NFL’s new collective bargaining agreement are expected to make life difficult for small-market teams like the Indianapolis Colts.
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Precedent joins ranks of battered developersRestricted Content

July 30, 2011
Cory Schouten
The Precedent Cos.—the local developer of The Precedent Office Park, Mount Comfort Commercial Park and several upscale residential communities in Hamilton and Johnson counties—is winding down operations in an out-of-court restructuring.
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IMS officials to revamp Brickyard 400Restricted Content

July 30, 2011
Anthony Schoettle
Indianapolis Motor Speedway CEO Jeff Belskus has an ambitious plan to “rebrand and reposition” the 18-year-old Brickyard 400 in a bid to fuel big attendance increases beginning next year.
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More life sciences firms opt to launch products in EuropeRestricted Content

July 30, 2011
Maria LaMagna
The U.S. Food and Drug Administration's growing reputation for unpredictability is spurring some Indianapolis companies to join counterparts elsewhere and introduce products in Europe. The upshot is that some Americans may never benefit from innovations occurring in their backyards.
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Indiana life sciences leaders look toward the futureRestricted Content

July 30, 2011
Chris O'Malley
Former Eli Lilly and Co. vice president Richard Dimarchi, BioCrossroads President David Johnson, angel investor Oscar Moralez and Purdue University Senior Vice President Alan Rebar discuss issues ranging from the depth of the life sciences industry in Indiana to venture capital and Purdue's Discovery Park.
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  1. What became of this project? Anyone know?

  2. Scott, could you post an enlarged photo of the exterior of the building? This will be a great addition to Walnut Street. This area will only continue to develop with additions like this. Also, please give us more updates on the "Cultural Trail light" expansion. Also a great move for the city, as long as there is maintenance money set aside.

  3. Great story IBJ! Citizens don't have a real sense of the financial magnitude of supporting Indy's sports and tourism sector. The CIB was a brilliant idea for creating a highly integrated public-private partnership to support this sector from the economic activity it generates. Unfortunately, most folks think the benefits of that economic activity accrue directly to the City budget, and it doesn't. So though the CIB is facing lean times (covering its costs while maintaining minimally acceptable reserves), the City is operating with deficit - less tax revenue than expenses each year - with a very fragile reserve balance. That's why it's so challenging for the City to fund basic needs or new intitatives (e.g. pre-k education; new jail), and some credit rating agencies have downgraded Indy from it's past stellar AAA status. More reporting on City finances would be welcomed.

  4. Sure, I'll admit that it bugs me to see that the IBJ.COM censors it's blog posts almost as much as the D of I does when someone points out the falsehoods and fabrications. _____But I think it bothers me almost as much that Captain/Defender/Disciple get his yanked too. You see, those of us with a sense of integrity, humanity, compassion, and a need for fact based opinion WANT to see all of his screeds posted. It makes our point so much better than we can do it ourselves.

  5. We're conflating two very different topics. Voter fraud is a myth and excessive gun violence is all too real. I just hope rational gunowners decide to stop being shouted down by the, well, let's call them "less rational" ones.

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