News & Analysis

Lilly Alzheimer's drug prospect only the latest to fail

August 18, 2010
Bloomberg News
A dozen potential products designed to slow or stop clumps of protein from forming in the brain, a condition linked to the disease since 1906, have failed in mid- to late-stage testing since 2003.
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Vonnegut memorial library to open this fall in Indianapolis

August 18, 2010
Associated Press
The Kurt Vonnegut Memorial Library scheduled to open this fall in downtown Indianapolis will be part library and part museum.
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Expanding hospitals target Bloomington

August 18, 2010
J.K. Wall
Monroe Hospital in Bloomington is the latest target in the statewide buildup by hospital systems. St. Vincent Health, St. Francis and at least one other system have all had talks in the past month with Monroe.
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Q&A

August 18, 2010
J.K. Wall
Dr. Kevin Macadaeg, vice president of the Indiana Spine Group, talked about his physician group's decision to build a 60,000-square-foot medical office and "bioskills" lab in Carmel next year, as well as the group's commitment to grow independently in the face of pressures from hospital acquisitions and health reform.
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Bad news piles up for Lilly

August 18, 2010
J.K. Wall
What a tough week for Lilly. On Aug. 12, a judge struck down the Indianapolis-based drugmaker’s U.S. patent on Strattera, which might cost the company about $450 million in annual revenue. Then, five days later, Lilly halted clinical trials on one of its experimental Alzheimer’s medicines, because patients did worse on the drug than on a placebo.
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Nearly 7,000 Indiana homes weatherized with federal money

August 17, 2010
Associated Press
Indiana is now the 18th state to complete 30 percent of its goal, by retrofitting about 20,000 homes to make them more energy efficient.
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Attorney General files suit against local publisher

August 17, 2010
Attorney General accuses David Caswell and New Century Publishing of violating state consumer protection laws by accepting payment without providing publishing services. IBJ reported July 30 that several authors had paid New Century for books but never received them.
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Big Ten seeking $20 million in TV money for football title game

August 17, 2010
Anthony Schoettle
Big Ten officials want nearly twice as much money as the Southeastern Conference is getting from CBS for its championship football game.
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Visteon ordered to reinstate health care to retirees

August 17, 2010
Bloomberg News
The mandate from a U.S. bankruptcy judge will supply retroactive benefits to more than 6,000 Visteon Corp. retirees who lost insurance coverage after the Michigan-based auto-parts maker filed for bankruptcy in 2009, including 2,100 workers in Indiana.
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Prospective GM plant buyer pleads case in advertisement

August 17, 2010
JD Norman Industries advertisement tells employees that its proposal to buy the plant would guarantee their GM transfer rights without having to close the facility.
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Summit Realty pursues downtown building for HQ

August 17, 2010
Scott Olson
The firm, now based in Chase Tower, wants to acquire and renovate the building at 241 N. Pennsylvania St.
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Jones' robotic mower company lands $4.5 million in funding

August 17, 2010
Anthony Schoettle
Precise Path Robotics completes round of funding on the heels of signing contract with two companies that control more than 100 U.S. golf courses.
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IndyGo airport route extended through 2011

August 17, 2010
The bus system's announcement in May that its current service and fare structure will remain intact through 2011 helped to extend the life of the route.
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Hybrid-motor sales help boost Remy's quarterly results

August 17, 2010
Pendleton-based company reported both higher profit and revenue, helped by a 20-percent increase in hybrid-motor sales.
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Lilly's Cymbalta helps chronic pain in U.S. review

August 17, 2010
Bloomberg News
Approval for the millions of Americans with chronic back or knee pain may add more than $500 million, or 16 percent, to Cymbalta's annual sales.
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Lilly halts development of Alzheimer's drug

August 17, 2010
 IBJ Staff and Associated Press
Studies showed that the treatment did not slow the disease's progression. It's just the latest setback for the pharmaceutical giant, which lost a patent lawsuit over a major drug last week and faces an unprecedented number of patent expirations through 2014.
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Greenwood businessman arrested for plan to commit arson

August 16, 2010
The arrest of Daniel Annee, 46, follows an investigation in which he is alleged to have paid an undercover agent, posing as an arsonist, $500 to burn down a building he co-owned at 431 E. Hanna Ave.
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Ivy Tech renews president's contract

August 16, 2010
Scott Olson
Thomas Snyder is set to lead the nation's largest singly accredited statewide community college through at least 2014. His annual salary of $300,000 remains unchanged.
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Economic development officials stunned by GM plant no-vote

August 16, 2010
Kathleen McLaughlin
Indiana Commerce Secretary Mitch Roob said he was completely surprised by local General Motors workers' refusal to vote on a proposed contract by JD Norman Industries, a decision that appears to set up the plant for certain closure.
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Medco to acquire United BioSource for $710M

August 16, 2010
 IBJ Staff and Bloomberg News
Medco operates an automated pharmacy and distribution center in Whitestown in Boone County, and it plans to employ more than 1,400 people there by 2012.
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Steak n Shake parent sees profit, revenue rise

August 16, 2010
Scott Olson
Biglari Holdings Inc. said revenue in the quarter rose 9.4 percent over the year-ago period and same-store sales increased by 7.5 percent
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ITT, other for-profit education firms face more oversight

August 15, 2010
Bloomberg News
Shares in ITT Educational Services Inc., based in Carmel, declined 13 percent Monday morning, to $56.02 each, after being downgraded
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UAW halts vote on giveback deal at Indy GM plant

August 15, 2010
Associated Press
UAW Local 23 bargaining chairman Gregory Clark says members won't vote on the proposed contract, which would cut base wages from $29 per hour to $15.50.
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New Jersey project enriched Simons

August 14, 2010
Cory Schouten
The battle over the estate of Melvin Simon has thrown a spotlight on a New Jersey development project that, by itself, has made many Simon family members multi-millionaires.
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Lilly braces for plunge in profits

August 14, 2010
J.K. Wall
Indianapolis-based drugmaker Eli Lilly and Co. faces such an unprecedented string of patent expirations and an unheard-of loss of revenue that it's hard to picture what the company will look like in five years.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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