News & Analysis

LEADING QUESTIONS: Trucking firm CEO leans into the pain

April 21, 2010
Mason King
Russell_WatchVideoCeladon CEO Stephen Russell faced a treacherous patch of highway when fuel prices spiked and the recession drove the trucking industry into an economic Death Valley. In IBJ's new video feature on leadership issues, Russell explains how advice from his dentist helped pave the way to recovery.
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Huntington Bancshares reports first profit since 2008

April 21, 2010
 IBJ Staff and Bloomberg News
Huntington National Bank, a subsidiary of Huntington Bancshares, operates nearly 50 branches and has about 600 employees in the Indianapolis area.
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Drug prices rise ahead of rebates

April 21, 2010
J.K. Wall
Drug prices rose faster last year than they have in a decade—just in time for big rebates the drug industry promised as part of the health reform law.
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Chrysler's old assets in bankruptcy can be liquidated, court rules

April 20, 2010
Bloomberg News
Investors who had challenged the bankruptcy sale, including the Indiana State Police Pension Trust, had argued that Treasury Secretary Timothy Geithner violated the Constitution by using TARP money to finance the sale, and had their arguments overruled in the appeals court.
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City-County Building 'greening' project to cost $8 million

April 20, 2010
Chris O'Malley
City expects environmentally friendly overhaul of downtown headquarters to provide net savings of $250,000 per year.
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Democrats want government approval of health premiums

April 20, 2010
Bloomberg News
Insurers like WellPoint Inc. should be required to get U.S. approval to increase premiums, Sens. Diane Feinstein and Tom Harkin say.
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Circle Centre arcade reopens under new ownership

April 20, 2010
Texas-based Tilt Family Entertainment acquires GameWorks chain, which closed last month, leaving gaping hole on fourth floor of mall.
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City flush with energy-saving ideas for building

April 20, 2010
Chris O'Malley
City-County Building energy-efficiency upgrades are set to be unveiled Tuesday afternoon. The nearly 50-year old landmark is the centerpiece of the city's greener-building initiative.
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Airport cargo-traffic rise could be sign of improving economy

April 20, 2010
Chris O'Malley
Retailers restocking lean inventories and more online purchases could be driving cargo uptick.
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Super Bowl practice facility moving to UIndy

April 20, 2010
Scott Olson
Host committee opts to partner with University of Indianapolis and build community center at Arsenal Tech High School, the original site of the domed practice facility.
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USA Football makes move to Indianapolis official

April 20, 2010
 IBJ Staff
As expected, city officials announced Tuesday morning that USA Football will relocate its headquarters to Indianapolis from Vienna, Va. The move should be complete by August.
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Marsh renews effort to sublease headquarters

April 20, 2010
Tom Harton
Most of the 148,000-square-foot building just north and east of the 96th Street/Interstate 69 interchange is empty.
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Health care tech firm Gemms adding 69 jobs

April 20, 2010
 IBJ Staff
Carmel-based electronic medical records developer Gemms Inc. plans to invest $2.1 million to expand its headquarters and software development operations here, more than doubling its staff in the next five years.
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Simon's General Growth plan 'crazy,' fund manager says

April 19, 2010
Bloomberg News
Bid to invest in General Growth Properties would give Simon too much control over its biggest competitor, said fund manager Bruce Berkowitz, who's backing a rival plan.
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USA Football expected to announce relocation to city

April 19, 2010
Scott Olson
Mayor Greg Ballard's office has an announcement scheduled for 10 a.m. Tuesday to reveal a "major sport's national governing body" that is moving to the city. IBJ reported in February that USA Football was seriously considering moving here.
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Shareholders fail to remove Lilly's anti-takeover provision

April 19, 2010
J.K. Wall
The proposal to remove an 80-percent approval threshold for takeover bids against the wishes of Lilly’s board received approval from shareholders holding 74 percent of Lilly’s shares.
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Future of Brizzi radio show up in the air

April 19, 2010
Scott Olson
Marion County prosecutor Carl Brizzi has not hosted "Crime Watch" on WIBC in three weeks, due to a scheduled break. But station officials want him to address accusations on air if he is to continue the show.
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Shares fall after Lilly earnings report

April 19, 2010
J.K. Wall
Lilly shareholders are set to gather Monday in Indianapolis to hear an update on the company’s performance, including how it will keep paying its generous dividend during the lean years after Zyprexa’s patent expiration.
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Arts Commission to share duties with regional groups

April 19, 2010
Kathleen McLaughlin
The Indiana Arts Commission revamped the way it allocates money out of concern about future state budget cuts, which would further reduce grants available to arts organizations.
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Volcano's ash postpones Indiana trade mission

April 19, 2010
Peter Schnitzler
Officials hope to reschedule flight to Italy for Tuesday to salvage the remainder of planned job attraction and creation trip.
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Lilly to pay $400M to repurchase Cymbalta rights

April 19, 2010
Bloomberg News
Eli Lilly and Co. will repurchase rights to develop and market antidepressant Cymbalta outside the U.S. and Japan from European partner Boehringer Ingelheim for an initial payment of $400 million.
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Higher-priced home sales on the rise

April 19, 2010
A total of 242 homes in the nine-county area sold for at least $250,000 last month, an increase of 23.5 percent from the same time last year.
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Health reform dings Lilly's earnings

April 19, 2010
J.K. Wall
The Indianapolis-based drugmaker also lowered its forecast for full-year profits because the new health care law grants bigger rebates on prescription drugs to federal health insurance programs.
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Indiana near bottom of heap for 2010 earmarks

April 18, 2010
Associated Press
Indiana received just over $14 per capita and ranked 48th among all states, down from 43rd in 2009.
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Hendricks County scales back hospitality plan

April 17, 2010
Kathleen McLaughlin
The convention bureau has shelved its plan to attract a full-service hotel and instead will boost spending on tourism marketing.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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