News & Analysis

GOP gains seat with Bucshon's win in 8th District

November 2, 2010
Associated Press
Republican Larry Bucshon has won southwestern Indiana's 8th Congressional District, giving the GOP a U.S. House seat that Democrats have held the last four years.
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GOP off to fast start in midterm election

November 2, 2010
Associated Press
Republicans gained a Senate seat in Indiana and powered to leads in 10 House districts currently held by Democrats in midterm elections Tuesday night, early fruits of a drive to break the Democrats' grip on power in Congress.
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Democrat Carson re-elected

November 2, 2010
Associated Press
Democratic Rep. Andre Carson has easily won election to a second term from Indiana's 7th Congressional District despite his unwavering support for President Barack Obama.
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Stutzman wins 3rd District

November 2, 2010
Associated Press
Marlin Stutzman has kept northeastern Indiana's 3rd District in the Republican column by winning election to its congressional seat.
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Rokita wins in 4th District

November 2, 2010
Associated Press
Indiana Secretary of State Todd Rokita has kept the state's 4th Congressional District in the Republican column by winning the election to replace retiring Rep. Steve Buyer.
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GOP's Pence scores easy re-election in 6th District

November 2, 2010
Associated Press
Congressman Mike Pence easily defeated Democrat Barry Welsh, a United Methodist minister from Connersville who has lost three straight challenges to Pence.
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GOP's Burton wins 15th term in Indiana's 5th District

November 2, 2010
Associated Press
Republican Rep. Dan Burton will continue his reign as Indiana's longest-serving congressman after winning election to his 15th term.
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CNO Financial Group profit beats analysts' expectations

November 2, 2010
J.K. Wall
Excluding investment and special charges, the Carmel-based life and health insurer on Tuesday reported a profit $47.1 million, down 13 percent from the same quarter a year ago, but still beat analysts' expectations.
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Indiana voters deciding outcome of big GOP push

November 2, 2010
 IBJ Staff and Associated Press
Indiana voters headed to the polls Tuesday amid Republican hopes for big gains in the state's congressional delegation and Legislature, but it wasn't immediately clear whether voters were turning out in the numbers the party had hoped for.
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Need for Duke coal-gas plant on regulators' agenda

November 2, 2010
Associated Press
Duke Energy Corp. says it needs a new coal-gasification power plant it's building in southwest Indiana, but consumer advocates don't believe it.
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FinishMaster reports higher quarterly sales, profit

November 2, 2010
The Indianapolis-based distributor of automotive paints and accessories said its third-quarter profit climbed nearly 16 percent, to $3.5 million. Revenue increased 3 percent, to $108.8 million.
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Tax-cap amendment means change for local government

November 2, 2010
Francesca Jarosz
Cuts in services, higher fees and consolidation of government units are possibilities, but advocates for the constitutional amendment say long-term certainty about property tax rates could benefit the economy.
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Numerous school referendums face decision time

November 2, 2010
Scott Olson
In central Indiana, the Hamilton Southeastern and Lebanon school districts want more money to build schools or renovate existing ones, while Zionsville School Corp. is seeking additional funding for operating expenses.
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Judge: Bren Simon can take some distributions from estate

November 2, 2010
Cory Schouten
A Hamilton County judge will allow Bren Simon to take about $3.3 million per year of the estimated $43 million in annual dividend and interest income from her late husband's estate.
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More than 500 employees take Purdue early-retirement plan

November 2, 2010
 IBJ Staff
The plan, approved by Purdue's Board of Trustees on Aug. 30, was designed to reduce payroll costs and avoid involuntary layoffs.
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Manufacturer plans to hire 40 in Portland

November 2, 2010
Fort Recovery Industries Inc., an Ohio-based aluminum and zinc die cast hardware manufacturer, said it plans to create the jobs by locating a manufacturing plant in the northeastern Indiana city.
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Lilly to open diabetes research center in China

November 2, 2010
 IBJ Staff
Indianapolis-based Eli Lilly and Co. plans to open a diabetes research center in China, the drugmaker said Tuesday, citing the high incidence of the disease there.
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Fraud allegations focus of secretary of state race

November 2, 2010
Associated Press
Charges of voter fraud have already marred Tuesday's election for Indiana's next chief election official, with the Republican candidate accused of using a false address to cast a ballot in May's primary.
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Election Board agrees to lease former Marsh store

November 2, 2010
Cory Schouten
The Marion County Election Board has agreed to lease about 41,000 square feet in a former Marsh store along East Washington Street for an election services center.
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Profit, revenue increase for Interactive Intelligence

November 1, 2010
 IBJ Staff
The business-communications software firm had profit of $3.5 million in the quarter ended Sept. 30, up from $2.8 million in the same period of 2009. Quarterly revenue leaped to $41.8 million, an increase of 26 percent.
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Colts have new contract proposal for Manning

November 1, 2010
Associated Press
Indianapolis Colts owner Jim Irsay said Monday he was prepared to make a contract offer to Peyton Manning during the team's off week, but Manning and his agent wanted to wait until after the season.
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Appeals court rejects Lilly over Gemzar patent

November 1, 2010
 IBJ Staff and Bloomberg News
Without an appeal, generic drugs are now poised to wipe away most of Lilly's $750 million in annual U.S. revenue from Gemzar.
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In rough economy, state candidates tout biz skills

November 1, 2010
Francesca Jarosz
Candidates might brag about their business credentials in any campaign year, but in the lead-up to Tuesday’s election, some say it’s been particularly intense.
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Anti-incumbent wave unlikely to swamp ‘lucky’ Burton

November 1, 2010
Mary Dieter
Congressman Dan Burton is expected to win his 15th term Tuesday despite what some say is an anti-incumbent sentiment sweeping the nation.
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Old National profit rises

November 1, 2010
The Evansville-based bank reported a third-quarter profit of $11.9 million, up from $4 million in the year-ago period.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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