News & Analysis

Smulyan still lacks support to take Emmis private

August 13, 2010
Anthony Schoettle
Emmis has again delayed a shareholder vote to take the company off the public market. A new meeting is set for Aug. 20.
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Cash options floated for workers at GM stamping plant

August 13, 2010
Kathleen McLaughlin
Fliers circulating at General Motors' Indianapolis plant show that union members will be offered cash payments of $25,000 to $35,000 and an opportunity to keep a foot in the door with GM, if they agree to work for JD Norman Industries.
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Tim Durham closes New Castle restaurant

August 13, 2010
Greg Andrews
A sign on the door of Durhams Ristorante says the moderately priced Italian eatery will be "closed until further notice."
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After another loss, JA plans for recovery

August 13, 2010
Kathleen McLaughlin
The not-for-profit hangs its hopes on efforts including more aggressive fundraising after reporting a $389,000 deficit for its 2010 fiscal year. "It's been a rough spell," said CEO Jennifer Burk.
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Will third time be a charm for Emmis?

August 13, 2010
Scott Olson
Emmis shareholders are set to vote again Friday night on taking the company private, but the proposal could be in jeopardy if a deal is not reached soon, says one investment expert.
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INSIDE DISH: Fairgrounds caterer revels in year-round gig

August 13, 2010
Mason King
Bartos Watch VideopPlying fairgoers with country-fried treats is just the start for John Barto, whose firm provides food-and-beverage service for confabs across the Fairgrounds calendar.
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HR firm FlashPoint severs ties with Barnes & Thornburg

August 13, 2010
Scott Olson
FlashPoint's co-owners purchase remaining shares from law firm to give them sole ownership of the company they founded in 2002.
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Loogootee losing 95 jobs to bedding plant closure

August 13, 2010
Perfect Fit Industries, a supplier of bedding accessories such as mattress pads, pillows and comforters, will shut down its facility in southwest Indiana by the end of the year.
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Biomet investing $26M to expand, create nearly 280 jobs

August 13, 2010
 IBJ Staff
Orthopedics giant Biomet Inc. plans to invest $26 million to grow operations in its hometown of Warsaw, adding 278 jobs by the end of 2012.
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Eli Lilly loses patent lawsuit for Strattera

August 13, 2010
 IBJ Staff and Associated Press
Eli Lilly and Co. on Thursday lowered its revenue outlook for the year after it lost a patent lawsuit over its attention deficit hyperactivity drug Strattera. The patent had been set to expire in May 2017. Lilly plans to appeal.
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Lawmaker wants Durham donations returned

August 12, 2010
 IBJ Staff and Associated Press
State Rep. Ed DeLaney of Indianapolis said Thursday that contributions of more than $800,000 by Indianapolis businessman Timothy Durham should be sent to a bankruptcy trustee for Ohio investment firm Fair Finance Co., which was forced into bankruptcy earlier this year.
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Schrenker to plead guilty to securities fraud

August 12, 2010
 IBJ Staff and Associated Press
A former money manager convicted of trying to fake his own death in a Florida plane crash last year has agreed to plead guilty to securities fraud charges in Indiana. Marcus Schrenker would face 10 years in prison.
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GM plant offer sets off union power struggle

August 12, 2010
Kathleen McLaughlin
The UAW in Detroit said Local 23 will vote Monday on Illinois-based JD Norman's proposal to buy an Indianapolis stamping plant where more than 600 work, but a local rep says workers don't want to negotiate.
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Eiteljorg to launch new attractions, strategy

August 12, 2010
Kathleen McLaughlin
The Eiteljorg Museum of American Indians and Western Art is trying to raise $4.5 million to fund a new strategy aimed at boosting attendance.
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Edward Jones eyeing Indianapolis expansion

August 12, 2010
The St. Louis-based financial services firm plans to add 62 branches within the next five years here to complement the existing 90 locations it already has in the city and surrounding counties.
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Fish sculpture poached from iconic IU fountain

August 12, 2010
Associated Press
A bronze fish that is part of the Bloomington campus's Showalter Fountain is missing just a year after it was replaced following an absence of more than 20 years.
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New jobless claims hit highest level in six months

August 12, 2010
Associated Press
Initial claims for unemployment benefits have now risen in three of the last four weeks and are close to their high point for the year of 490,000, reached in late January.
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Thousands beat it to Indianapolis for Drum Corps competition

August 12, 2010
Kathleen McLaughlin
About 30,000 people are expected to attend the Drum Corps International World Championships over the next three days at Lucas Oil Stadium in Indianapolis.
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Simon mall deal gives big boost to cell-phone coupons

August 11, 2010
Associated Press
The partnership between Simon Property Group and technology company Shopkick Inc. is a big step in realizing retailers' long-held dream of using cell phones to beam ads and coupons to people passing by.
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Centaur ready to sell Pennsylvania racetrack-casino project

August 11, 2010
Associated Press
Indianapolis-based Centaur LLC said Wednesday it is asking a federal bankruptcy judge to approve bidding procedures to transfer ownership of Valley View Downs.
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AIG sells American General unit to Fortress at loss

August 11, 2010
Bloomberg News
American International Group Inc. has agreed to sell a majority stake in its Evansville-based consumer lending unit, getting rid of an operation that posted about $1.7 billion in operating losses since 2008 and accumulated more than $17 billion in debt.
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FinishMaster reports lower sales, profit

August 11, 2010
The Indianapolis-based distributor of automotive paints and accessories reported that its second-quarter profit dipped nearly 2 percent, to $3.7 million, from the same period a year earlier.
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LEADING QUESTIONS: Gleaners chief gets wake-up call

August 11, 2010
Mason King
Altmeyer
                           watch videoCEO Pamela Altmeyer reevaluated her priorities and decided to step down after a family tragedy and the agency's latest capital campaign.
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Parking rates could double under city plan

August 11, 2010
Scott Olson
City leaders expect to select a manager to oversee parking operations within the next week.
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Cincinnati Bell chooses Carmel for subsidiary's headquarters

August 11, 2010
Scott Olson
Evolve, which offers bundled voice and data services to commercial customers, will start with 100 employees in Carmel and plans to add more.
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  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

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