News & Analysis

Lilly to let 115 workers go in new outsourcing deal

March 26, 2010
J.K. Wall
Deal with unit of Massachusetts-based Thermo Fisher Scientific would keep many of the employees working in same location.
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Indiana unemployment rate ticks up to 9.8 percent

March 26, 2010
 IBJ Staff and Associated Press
The state's jobless rate has been either 9.8 percent or 9.7 percent the past four months.
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Health care bill burns local tanning industry

March 26, 2010
Anthony Schoettle
With one of the nation's largest tanning-bed manufacturers and dozens of salons in central Indiana, a 10-percent tax on tanning could cost the region jobs.
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Simon Property hiked CEO's pay 34.7 percent last year

March 26, 2010
Peter Schnitzler
David Simon's $4.6 million in total compensation last year was $1.2 million more than in 2008. The rest of his management team's pay declined or remained flat.
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Lugar Tower project delayed by lack of tax credits

March 26, 2010
Scott Olson
Renovation of apartment building owned by the Indianapolis Housing Agency will have to wait, after it failed to receive the necessary federal backing to fund it. Three other IHA projects, including Caravelle Commons, will move forward, however.
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Finish Line reports big jump in sales, profit

March 25, 2010
Cory Schouten
Shares of athletic retail specialist The Finish Line Inc. were soaring in after-hours trading Thursday after the company reported strong fourth-quarter sales and a growing pile of cash on its pristine balance sheet.
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CEO: Conseco's name no longer says insurance

March 25, 2010
J.K. Wall
Conseco Inc. CEO Jim Prieur says it's time to change the company's 27-year-old name partly because it's become better associated with a sports facility than with the insurer's products.
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Judge tosses fraud claim in Mel Simon estate case

March 25, 2010
Greg Andrews
Judge William J. Hughes ruled Deborah Simon failed to make her claim with “sufficient specificity.”
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Local beverage entrepreneur retrenches with new venture

March 25, 2010
Scott Olson
J. Smoke Wallin launches Pelican Brands LLP to help booze companies market and distribute their products after his attempts to acquire underperforming brands fizzled due to the credit crunch.
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United Way donations match last year's amount

March 25, 2010
Kathleen McLaughlin
United Way of Central Indiana's 2009 fund-raising campaign raised $38.8 million, slightly short of its $39 million goal, but almost equal to the previous year's effort, the organization announced Thursday.
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Jobless claims drop more than expected

March 25, 2010
Associated Press
New claims for unemployment benefits fell more than anticipated last week—partially due to changes in the calculations—as layoffs ease and hiring slowly recovers.
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Formula One boss eyes New York for grand prix

March 25, 2010
 IBJ Staff and Associated Press
Bernie Ecclestone appears to be interested in widening the racing series' reach in the U.S., with recent negotiations to return to Indianapolis and now wishing aloud for a New York-based grand prix.
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Fishers Town Council set to review auto mall plans

March 25, 2010
Butler Automotive Group is proposing a $19 million development along Indiana 37 that could include five auto dealerships and create about 230 jobs.
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Lilly eyes more animal-health acquisitions

March 25, 2010
 IBJ Staff and Bloomberg News
Eli Lilly is interested in assets that may be offered for sale as a result of Sanofi-Aventis SA and Merck & Co.'s plan to combine their veterinary units.
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Conseco seeking to change its name

March 25, 2010
 IBJ Staff and Bloomberg News
Carmel-based insurer Conseco Inc. will ask shareholders to approve changing the company’s name to CNO Financial Group, the company said Thursday morning.
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Daniels warns of health bill's 'immorally huge' taxes

March 25, 2010
Associated Press
Daniels told members of the Economic Club of Indianapolis that it's ridiculous for anyone to suggest the nearly $1 trillion health care overhaul signed into law Tuesday by President Barack Obama won't add to the nation's debt.
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Lilly sues Hospira over generic version of Gemzar

March 24, 2010
Bloomberg News
Indianapolis-based Eli Lilly and Co. sued rival drugmaker Hospira Inc. to prevent it from selling a generic version of the cancer drug Gemzar before a patent on the medicine expires in 2013.
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Urban expert lauds Indianapolis for progress

March 24, 2010
Scott Olson
Native Hoosier Aaron Renn, who writes the popular Urbanophile blog, said Indianapolis stacks up well against its Midwestern counterparts and can compete for jobs with national hot spots such as Portland, Ore.
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Cummins cuts CEO's pay by nearly one-quarter

March 24, 2010
Peter Schnitzler
Columbus-based engine maker Cummins trimmed Solso's total compensation by $2.3 million last year; remainder of management team took similar pay cuts.
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Lilly Endowment's assets drop more than foundation peers

March 24, 2010
Andrea Muirragui Davis
Once the nation’s wealthiest foundation, Indianapolis-based Lilly Endowment now ranks ninth among its grant-making peers. The endowment’s value fell 15 percent last year, to an estimated $4.8 billion.
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Tokusen USA planning 135 jobs at new Scottsburg plant

March 24, 2010
 IBJ Staff
Arkansas wire-maker Tokusen USA Inc. plans to establish a manufacturing plant in Scottsburg, state economic development officials said Wednesday, touting the nearly 135 jobs expected over the next two years.
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Court: Celadon 'general counsel' lacks license, can't practice law

March 24, 2010
Scott Olson
Kenneth Core, who referred to himself in letters and electronic correspondence as Celadon Group's general counsel, cannot practice law in Indiana until he receives a state law license, the Indiana Supreme Court said.
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Docs fear reform will exacerbate ER overuse

March 24, 2010
J.K. Wall
One of the most agreed-upon reasons for health care reform was the expensive overuse of the emergency room by uninsured patients. But two Hoosier ER docs—one conservative, one liberal—say the implementation of ObamaCare will leave that fundamental problem unresolved.
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IU study: Money matters to docs

March 24, 2010
J.K. Wall

Think doctors and hospitals aren’t influenced by money? Think again. Patients seen at private facilities reimbursed by Medicare were 5.5 times more likely to receive routine cataract surgery than patients at poorly funded Veterans Affairs facilities.

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IBJ wins national journalism awards

March 23, 2010
 IBJ Staff
IBJ received three national journalism awards at the Society of American Business Editors and Writers’ annual conference on March 20 in Phoenix.
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