News & Analysis

Scotty's owner planning to open microbrewery

February 26, 2010
Andrea Muirragui Davis
Indianapolis restaurateur Scott Wise is moving forward with plans to launch Scotty’s Thr3e Wise Men Brewing Co., a microbrewery that will produce craft beer for his eateries and the public. It will share space with another startup craft brewer.
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USA Football touring city, considering moving HQ here

February 26, 2010
Anthony Schoettle
USA Football officials toured Indianapolis and met major sports brass on Feb. 26 and are considering several local sites, including the former Citizens Gas facility on the southeast side, to be its new home. The organization, part-owned by the NFL, is set to move from its Virginia home later this year.
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Judge halts dissolution of struggling Durham firm

February 26, 2010
Greg Andrews
A judge has blocked Tim Durham and other directors of Dallas-based CLST Holdings Inc. from dissolving the struggling company at the close of business Friday. Its largest shareholder hopes to place dissident candidates on the board.
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$22.3 billion public pension merger poised to fail again

February 26, 2010
Peter Schnitzler
Key House Democrat recommends summer study for a Gov. Daniels legislative priority: consolidation of the $14.2 billion Indiana Public Employees Retirement Fund and the $8.1 billion Indiana State Teachers Retirement Fund.
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Conseco shares fall after dip in fourth-quarter profits

February 26, 2010
J.K. Wall
Carmel-based insurer swings to a profit, but earnings from operations decline.
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Adesa parent turns profit, beats expectations

February 26, 2010
Scott Olson
KAR Auction Services reported a profit of $5.3 million in the fourth quarter after sustaining a loss in the same period in 2008. The company's CEO attributed the turnaround to several factors, including the completion of an initial public offering.
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WellPoint records subpoened in California probe

February 26, 2010
Bloomberg News
The California attorney general has demanded documents from several health insurers, including Indianapolis' WellPoint, believing that their rate-setting and claims practices might be illegal.
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Study: Hospital clout spurs higher Calif. health costs

February 26, 2010
Bloomberg News
While insurers get the blame for rising health-care costs for consumers, surging fees from hospitals and the growing dominance of such providers may be just as responsible for driving up expenses, according to a new study examining California's market.
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Conseco's quarterly profit trimmed by legal costs

February 25, 2010
J.K. Wall
Carmel-based insurer Conseco Inc. has been profitable for four straight quarters.
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Battle for General Growth biggest real estate fight in years

February 25, 2010
Bloomberg News
The battle for General Growth Properties Inc., owner of more than 200 U.S. malls, is turning into the biggest real estate skirmish since the sale of Sam Zell's Equity Office Properties Trust.
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Indiana Senate approves plan to cut township boards

February 25, 2010
Associated Press
The bill now likely will go to a House-Senate conference committee to try to resolve the House-passed and Senate-approved versions of the bill.
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Sides mum after latest NFL bargaining session

February 25, 2010
Associated Press
The two sides held their latest round of negotiations in an Indianapolis hotel ballroom as the league's annual scouting combine began.
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Ethics bill clears Senate with unanimous support

February 25, 2010
Associated Press
The most sweeping Indiana legislation in years to tighten ethics and lobbying rules cleared the state Senate 50-0 Thursday and appeared headed soon to Gov. Mitch Daniels for his signature.
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Weather blamed for unexpected rise in jobless claims

February 25, 2010
Associated Press
New claims for unemployment benefits jumped unexpectedly last week, mostly because state agencies processed a backlog of claims caused by snowstorms the previous week.
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WISH-TV to replace Martha Stewart with local style show

February 25, 2010
J.K. Wall
Daily morning talk show will feature local food, fashion, fitness and fads, but must separate itself from crowded cable market.
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Alternative energy firm eyeing New Castle plant

February 25, 2010
Scott Olson
Plans by Washington, D.C.-based D'Arcinoff Group to manufacture wind turbines in an idled plant in New Castle could create 1,800 jobs in the next two years.
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Westfield Group enters General Growth fray, source says

February 25, 2010
Bloomberg News
Additional offers beyond those by Simon Property Group and Brookfield Asset Management may emerge, General Growth President Thomas H. Nolan Jr. said.
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Republic to buy $3B in jets; quarterly profit rises

February 25, 2010
 IBJ Staff and Bloomberg News
Republic has agreed to buy 40 Bombardier Inc. CS300 regional jets valued at $3.06 billion, the largest order for the aircraft since its introduction in 2008.
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Brookfield deal doesn't put Simon out of General Growth game

February 25, 2010
Bloomberg News
The bid by Simon Property was an "initial salvo" and the Brookfield plan likely will prompt a new offer from the Indianapolis-based mall owner, real estate research analyst says.
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Indiana House OKs tax-increase repeal, jobs bill

February 24, 2010
Associated Press
The Indiana House approved legislation Wednesday that would repeal an unemployment-insurance tax increase and approved a package of tax credits and other incentives designed to create jobs.
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General Growth plans to split in two to exit bankruptcy

February 24, 2010
Bloomberg News
General Growth Properties Inc. plans to split in two to exit bankrupty and will receive $2.63 billion in capital from Brookfield Asset Management Inc
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Comedy club reopening under new ownership

February 24, 2010
Scott Olson
New local owners of Morty's Comedy Joint on East 96th Street plan to open the club on March 4. It has been closed since early January.
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IU president plans aggressive building campaign

February 24, 2010
J.K. Wall
In a speech Tuesday, President Michael McRobbie said IU is gunning to construct at least 12 buildings on its Bloomington and Indianapolis campuses in spite of the economy and falling state funding.
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WellPoint CEO blames health costs for hikes

February 24, 2010
Associated Press
Amid attacks from Democrats over high executive salaries, Angela Braly testified in Washington, D.C., on Wednesday that big insurance-premium increases are the result of growing price tags for hospital care and pharmaceuticals.
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Fort Wayne equipment distributor adding 150 jobs

February 24, 2010
Heritage Food Service Equipment Inc. will begin hiring in March, as a $1.5 million upgrade to its 125,000-square-foot facility is completed.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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