News & Analysis

Fried chicken franchises, Argentine eatery call it quits

September 17, 2010
Scott Olson
Five Popeyes restaurants in Indianapolis owned by one franchisee close down, as does downtown eatery Taste of Tango.
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Daniels picks Boone County judge for Supreme Court

September 17, 2010
 IBJ Staff and Associated Press
Gov. Mitch Daniels has appointed Boone Circuit Court Judge Steven David to the Indiana Supreme Court.
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Franklin calls off deal to land brewery plant

September 17, 2010
Kathleen McLaughlin
The Franklin Redevelopment Commission decided Thursday to call off the deal because TailGate Beer of San Diego failed to respond to a deadline to provide detailed financial information.
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Union cancels Marsh vote planned for Friday

September 16, 2010
Kathleen McLaughlin
The local grocery workers union has pulled its request for an election at Marsh's supermarket in Beech Grove, saying recent events cast a pall over the vote that was scheduled for Friday.
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Medical equipment maker primed to expand in Greenwood

September 16, 2010
J.K. Wall
Advantis Medical Inc., a maker of cases and trays for surgical instruments, plans to add more than 100 jobs in Greenwood over the next five years.
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Failed bid to take Emmis private costing millions

September 16, 2010
Scott Olson
Emmis CEO Jeff Smulyan's JS Acquisition LLC has racked up takeover expenses of $10.2 million, a figure that's sure to escalate now that JS Acquisition is suing its one-time financier for backing out of the deal.
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Bank suing Estridge Cos. for securities fraud

September 16, 2010
Scott Olson
Bank of Indiana files complaint against the home builder, alleging it failed to repay a $1 million investment due June 30. The complaint further accuses law firm Krieg DeVault LLP of malpractice and breach of fiduciary duty.
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Former councilman indicted in strip club case

September 16, 2010
Francesca Jarosz
Federal officials on Thursday charged a former City-County Council member in an extortion scheme to use his official position to grease the wheels for opening a strip club, taking $6,000 in exchange for the help.
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LEADING QUESTIONS: Butler's Fong talks sports, Stevens

September 16, 2010
Mason King
LQ_Fong_WatchVideo3The university president likens his role to that of a major-league manager, but retaining talent like Brad Stevens is just the start.
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Tower manager proposes 4th Artsgarden skywalk

September 16, 2010
J.K. Wall
Reit Management & Research LLC made a presentation Wednesday to the Indianapolis Metropolitan Development Commission for its plans to build a pedestrian walkway between Circle Centre mall and PNC Center.
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U.S. homes lost to foreclosure up 25 percent this year

September 16, 2010
Associated Press
August makes the ninth month in a row that the pace of homes lost to foreclosure has increased on an annual basis. Banks have been stepping up repossessions to clear out their backlog of bad loans.
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Republicans: Force state to live within means

September 15, 2010
Associated Press
House Minority Leader Brian Bosma, R-Indianapolis, said the state's next two-year budget doesn't have to be "honestly balanced," meaning the state could spend more than it takes in by dipping into reserves if the economy continues to sag.
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Daniels says no presidential pitch made at dinners

September 15, 2010
Associated Press
Indiana Gov. Mitch Daniels said Wednesday he has hosted about a dozen dinners with top Republican fundraisers and business and policy leaders, but never pitched himself as a potential presidential candidate.
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Smulyan-led firm sues backer over failed Emmis deal

September 15, 2010
Andrea Muirragui Davis
Emmis Communications Corp. CEO Jeff Smulyan’s JS Acquisition LLC is suing its one-time financier for backing out of a deal to take the Indianapolis-based media company private.
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UPDATE: Schrenker pleads guilty to securities fraud

September 15, 2010
 IBJ Staff and Associated Press
Former money manager admits to bilking friends, family members and other investors out of millions of dollars before trying to fake his own death. He'll be sentenced Oct. 7.
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Defendant pleads guilty in $880M fraud case

September 15, 2010
 IBJ Staff and Associated Press
A Florida man with ties to the founder of Indianapolis-based Williams Realty Group pleaded guilty Wednesday to running a multistate Ponzi scheme that prosecutors say left investors with up to $100 million in losses.
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UPDATE: New tech jobs come with handsome wages

September 15, 2010
J.K. Wall
Mobi Wireless expects to pay average wages of more than $50,000 to 253 new workers; Bostech Corp. expects to pay more than $80,000 to 61 new employees.
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Factory production creeps up again

September 15, 2010
Associated Press
Production at U.S. factories grew in August for the 12th time in 14 months, but at a slower rate than earlier this year.
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Tech companies adding 314 jobs in Zionsville

September 15, 2010
Two tech companies located in Northwest Technology Center in Zionsville plan to invest $3.6 million and add 314 jobs over the next four years, officials announced Wednesday morning.
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Community moves to integrate doctors

September 15, 2010
J.K. Wall
Health Care watch videoCommunity Health now has about 550 physicians, either on its payroll or committed through integration contracts, who have some of their pay hinge on measures of quality and communication. CEO Bryan Mills says the hospital system is looking to add even more.
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State insurance chief Cutter dies

September 15, 2010
J.K. Wall
Indiana Insurance Commissioner Carol Cutter passed away Sept. 6 in Indianapolis after a months-long struggle with illness. She was 67. Cutter had been on leave from the department since January.
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City finance chief to leave post for state role

September 15, 2010
Francesca Jarosz
City Controller David Reynolds, who started with the city when Mayor Greg Ballard took office in January 2008, has accepted a job as senior fiscal analyst for the Indiana Senate's Republican majority caucus.
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Senate panel refuses to fund GE engine made by Rolls-Royce

September 14, 2010
 IBJ Staff and Bloomberg News
The decision holds potential bad news for Indianapolis engine maker Rolls-Royce, which produces the engines. Rolls-Royce is the region's second-largest manufacturer, behind Eli Lilly and Co., with about 4,300 local employees.
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Library slashes hours, to close main branch on Thursdays

September 14, 2010
A big reduction in hours is expected to save the Indianapolis-Marion County Public Library about $1.5 million next year, as it grapples with a $4 million revenue shortfall.
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Filmmaker Low planning Indy 500 movie for IMAX 3D

September 14, 2010
 IBJ Staff
The award-winning filmmaker behind such giant-screen gems as “The Ultimate Wave” and “Super Speedway” is developing an IMAX 3D movie focused on the Indianapolis 500-Mile Race and the evolution of motorsports.
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