News & Analysis

$18.9M Navy contract boosts Raytheon's local facility

March 16, 2010
 IBJ Staff
Raytheon Technical Services Co. LLC will make guided missile launchers for the U.S. Navy at its Indianapolis avionics development center, the Department of Defense announced Monday.
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Lilly pays $50M-plus for rights to testosterone lotion

March 16, 2010
Bloomberg News
Indianapolis-based Lilly will pay Acrux of West Melbourne, Australia, a $50 million license fee, plus $3 million when manufacturing assets are transferred, but the deal could be worth millions more.
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WellPoint affiliate ordered to pay $206K for transplant

March 16, 2010
Associated Press
Blue Cross of California has been ordered to reimburse a man $206,000 after he paid for his own liver transplant.
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Airport makes more executive changes

March 15, 2010
Chris O'Malley
Airport's new hires include Gov. Mitch Daniels' chief legal counsel and a former Simon Property Group senior vice president.
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BlueLock plans $35.6 million investment, 118 new jobs

March 15, 2010
 IBJ Staff
Indianapolis-based tech firm BlueLock LLC is poised to continue its growth spurt, planning a $35.6 million investment at its north-side facility that could create 118 jobs. City planners have recommended approval of a 10-year tax abatement.
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Old National Bank puts name on Murat Centre

March 15, 2010
Kathleen McLaughlin
The voice-mail system at the Murat already greets callers with this message: You have reached the Old National Center, a Live Nation venue.
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No buyers surfacing for former Winona Hospital

March 15, 2010
As of Monday morning, the Marion County Metropolitan Development Commission had received no bids to buy the property. MDC is set to begin reviewing bids at its Wednesday meeting.
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Big Ten tourney attendance rises by nearly 20 percent

March 15, 2010
Scott Olson
Organizers credit stronger ticket-selling efforts and new promotions for boosting attendance to more than 81,000, the highest it's been since the tournament became an annual event in Indianapolis.
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Biz leaders relieved over one-year payroll tax-hike delay

March 15, 2010
Peter Schnitzler
Legislators postponed a $400 million tax hike to shore up Indiana's bankrupt Unemployment Insurance Trust Fund, but state's most troubled employers still face automatic payroll tax hike this year.
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Speedway, F1 discussing race's return to Indianapolis

March 15, 2010
Scott Olson
Officials from the Indianapolis Motor Speedway and Formula One say they're in discussions to bring a Formula One race back to the city. F1 left the city in 2007 after an eight-year run.
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Simon, rival seek foreign investors to back General Growth bid

March 15, 2010
 IBJ Staff
Indianapolis-based Simon Property Group and its chief rival in the battle to acquire bankrupt shopping mall operator General Growth Properties Inc. are seeking funding from sovereign wealth funds in the Middle East and Asia, according to the Financial Times of London.
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Local luxury home sales jumped in February

March 15, 2010
Kathleen McLaughlin
Luxury home sales in central Indiana surged in February despite an overall decline in home sales, Re/Max of Indiana reported Monday morning.
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Community Health Network Foundation names new CEO

March 15, 2010
 IBJ Staff
Michele Thomas Dole has been a wealth adviser at JP Morgan Chase and development director of the IU Foundation.
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FDA says 'not yet' on Lilly's once-weekly Byetta

March 15, 2010
J.K. Wall
Regulators won't require more time-consuming tests of the drug, but want Eli Lilly and Co. and its partners to clarify labeling, manufacturing processes.
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Schrenker: 'Data' show he tried to fake own death

March 15, 2010
 IBJ Staff and Associated Press
A former Fishers money manager facing fraud charges acknowledges in a newspaper interview that evidence indicates he was trying to fake his own death when he parachuted from his private plane that later crashed in a Florida swamp.
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Community banks face fight of their lives against big players

March 13, 2010
Peter Schnitzler
Small, community banks will bet on their strength in customer service, and large banks will offer business customers lower costs.
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Indy Racing League still trying to turn a profitRestricted Content

March 13, 2010
Anthony Schoettle
Terry Angstadt, who oversees the Indy Racing League’s commercial division, thinks the series could break even in 2011 and be profitable by 2012 despite myriad challenges facing open-wheel racing.
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Flood leaves redevelopment opportunity for Franklin

March 13, 2010
Kathleen McLaughlin
Franklin watch
                           videoThe city of Franklin is using the post-flood era to push for comprehensive redevelopment in and around downtown. The cornerstone of the plan is a flood plain southwest of the courthouse.
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Citizens says buying water, sewer systems won't harm bond ratingRestricted Content

March 13, 2010
Chris O'Malley
Citizens Energy Group's plan to buy the city's water and sewer systems will require the utility to raise $262 million in new bond debt and inherit $1.5 billion in debt. Yet Citizens executives maintain the financial load should not impair the bond ratings of its principal utilities, Citizens Gas and Citizens Thermal.
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Marine tech unit to fill four floors at struggling M&I Plaza

March 13, 2010
Cory Schouten
A 10-year, $20 million deal for a civilian division of the U.S. Marine Corps to occupy four floors of the 28-story M&I Plaza building downtown will push the city's sixth-largest office tower from a woeful 30-percent occupancy rate to about 50 percent.
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Minority networking event set for April 25Restricted Content

March 13, 2010
 IBJ Staff
"Staying Alive and Productive during Economic Hard Times" is the theme of the Indianapolis Professional Association's seventh annual networking luncheon. It will include a roundtable discussion of the economic state of local minority businesses and organizations.
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Banking reforms may bite weakest institutionsRestricted Content

March 13, 2010
Peter Schnitzler
Indiana banks soon might have to pay the state as much as $300 million in new fees for deposit insurance at a time the industry is experiencing its deepest woes in decades.
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Carmel contractor offers scholarshipsRestricted Content

March 13, 2010
 IBJ Staff
Carmel-based Williams Comfort Air, a heating and cooling contractor, is accepting nominations for its Extraordinairy Treasures annual scholarship program. Six one-time scholarships totaling $5,000 will be awarded to high school seniors based on community service, leadership activities and family commitment.
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Indianapolis Housing Agency pulls off big tax credit deal

March 13, 2010
Tom Harton
City agency plans renovations, expansions at eight apartment properties.
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State lawmakers remain divided; deal by Sunday in doubt

March 12, 2010
Associated Press
The impasse between the two parties over a delay in an unemployment-tax increase is expected to drag the legislative session into the weekend. "Nobody is talking right now," says one legislator.
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