News & Analysis

Neighborhood revitalization group calling it quits

November 24, 2009
 IBJ Staff
BOS Community Development Corp., created in 1982 to revitalize the Indiana Avenue and Midtown area, says its mission is accomplished.
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Patachou owner's pizzeria receives variance approval

November 24, 2009
Scott Olson
Cafe Patachou owner Martha Hoover can now move forward with plans to open a pizzeria next to her trademark eatery at 49th and Pennsylvania streets.
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UPDATE: FBI searches Durham-owned company offices

November 24, 2009
Greg Andrews
Ohio securities regulators say Tim Durham's Fair Finance Co. won't be permitted to sell additional investment certificates unless it satisfactorily answers a series of questions about the company's ability to pay them back.
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FBI serves search warrants on Durham-owned companies

November 24, 2009
The FBI on Tuesday executed search warrants at two companies led by high-profile executive Tim Durham—Indianapolis-based Obsidian Enterprises Inc. and Akron, Ohio-based Fair Finance Co.
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Troubled homebuilder's funds frozen after failing to pay judgment

November 24, 2009
Scott Olson
A Marion County judge has frozen certain Hansen & Horn Group Inc. funds after the Indianapolis homebuilder failed to pay a $183,000 legal judgment. The move sheds light on the severity of the company’s woes.
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Research lab could replace ATA headquarters

November 24, 2009
Cory Schouten
Paul Kite Co. has applied for a rezoning of the 16.5-acre site to allow for non-airport uses.
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Haynes reports quarterly, fiscal-year losses

November 24, 2009
Kokomo-based Haynes International Inc.'s efforts to consolidate operations and reduce inventory could not keep it from losing $3 million in its fiscal fourth quarter, the company announced Monday.
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Ballard set to shake up CIB with staff moves

November 24, 2009
Peter Schnitzler
CIB Treasurer Ann Lathrop will become board president, replacing Bob Grand at the helm of the organization that oversees the city's professional sports stadiums and the Indiana Convention Center.
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Retail space rises in Carmel

November 24, 2009
Tom Harton
Retail construction has all but ground to a halt because of the recession, but that’s not the case in Carmel, where Keystone Construction Corp. is in the midst of developing a $45 million, mixed-use project.
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Hillenbrand profits rise despite revenue declines

November 24, 2009
 IBJ Staff
Improved investment returns and lower costs on diesel fuel and raw materials used in Hillenbrand's products helped improve company earnings
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Lumina awards $831,000 to state chamber, commission

November 23, 2009
The Indiana Chamber of Commerce and the Indiana Commission for Higher Education announced Monday afternoon that the Lumina Foundation for Education has awarded them $831,000 to help fund an initiative designed to increase the number of college graduates.
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Biglari was persistent in pressing Western Sizzlin deal

November 23, 2009
Greg Andrews
Steak n Shake CEO Sardar Biglari proposed buying Western Sizzlin in January and again in May and advocated the unusual structure of the $39 million transaction.
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Salvation Army kettles going high-tech

November 23, 2009
Andrea Muirragui Davis
The Salvation Army of Indiana soon will test a swipe-card option for curbside donations to its annual "Tree of Lights" fund-raising campaign.
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Indiana casino owner declares bankruptcy

November 23, 2009
 IBJ Staff and Associated Press
Majestic Star Casino LLC owns two casinos and a hotel in Gary, a casino-hotel in Tunica County, Miss., and a casino in Black Hawk, Colo.
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Wind turbine maker adding 260 jobs in New Albany

November 23, 2009
 IBJ Staff
California-based WindStream Technologies Inc. plans to locate a development and production facility at Purdue Research Park of Southeast Indiana, creating more than 260 jobs by 2012.
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Remnants of failed Premier Properties finally hit market

November 21, 2009
Cory Schouten
CB Richard Ellis recently began marketing the most prominent of Premier Properties’ local properties, Metropolis. The Venu site at the southwest corner of East 86th Street and Keystone Avenue also is up for grabs.
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Falling property prices fuel new wave of bank woes

November 21, 2009
Peter Schnitzler
The second and third quarters were brutal for Indiana banks, as they set aside big reserves to cover losses on commercial real estate loans.
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Homeownership losing cachet due to housing bust, job losses

November 21, 2009
Cory Schouten
Multifamily housing may not benefit anytime soon from falling rates of homeownership.
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Fledgling technology park is development bright spotRestricted Content

November 21, 2009
Kim Puckett
WestGate@Crane Technology Park is adding office buildings for defense contractors next to the secretive Naval Surface Warfare Center at Crane.
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Top local money managers hedge against stagflationRestricted Content

November 21, 2009
Peter Schnitzler
Faced with the potential for another bout with stagflation, investment managers are scrambling to decide how to face a future when markets may again be thrown into turmoil by the two-headed monster of frisky price increases and crummy economic conditions.
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Fewer firms reimbursing workers for tuitionRestricted Content

November 21, 2009
Scott Olson
As corporations continue to dig out from the worst recession in decades, tuition-reimbursement programs are a common casualty. A survey estimates that 63 percent of companies will offer undergraduate educational assistance this year compared to 67 percent in 2005.
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Denison light-replacement project shows expanding base of green vendors in regionRestricted Content

November 21, 2009
Chris O'Malley
Indianapolis parking garage operator Denison shuns sexy LED lighting for Fishers supplier’s induction lights.
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Hotel TV program touts Indianapolis, helps businesses reach travelersRestricted Content

November 21, 2009
Brock Benefiel
Indianapolis Visitors Channel, which airs on closed-circuit networks in more than 6,400 area hotel rooms, highlights some of the city’s most popular attractions and promotes local businesses—both through traditional advertising and sponsored features.
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Airport retailers want relief from street pricing policy

November 21, 2009
Chris O'Malley
Airport concessionaires stung by a 10-percent drop in passenger traffic have asked the Indianapolis Airport Authority to ease a policy that was implemented more than 10 years ago to keep prices in line with what consumers pay outside the airport.
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NCAA, NBA launch iHoops to promote sport of basketball to future players, fansRestricted Content

November 21, 2009
Anthony Schoettle
One of the legacies left behind by the late NCAA President Myles Brand is a 10-person startup company tucked in a high-rise office building in downtown Indianapolis that is just starting to make its mark on the basketball world.
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  1. How is the private developer going to repay the bonds. Is this going to be a toll road?

  2. As well as a Portillio'S!!!!!!

  3. A Lou Malnati's would be awesome!!!!!!!!

  4. We aren't broke. We just aren't willing to raise revenues for this that we should be raising them.

  5. OK. now that the state is taking illegal immigrants, willing or not. There is a major concern that needs to be addressed. First: School starts here in 3 weeks in most parts of the country and probably in Indiana. So is the state going to vaccinate these kids before they intermingle with our kids in school? The problem we are going to have here in the US and possibly in Indiana is that some of these kids could be carrying health issues or diseases that are pretty much eradicated in the US. This could cause a major health issue in the US. Second: Who is going to pay for this building disaster? We are flat out broke….. Down here in Texas, we have 14 counties that have been so swamped with kids, (numerous thousands of them), they are on the verge of financial collapse. Now this is happening in counties in New Mexico, Arizona and California. The system is massively overloaded. Swine flu has started back up in San Antonio since they have nearly 2500 kids that have been placed there and lice is rampant. Not to be insensitive, but we need to stop this madness. I find it amazing that we cannot take care of our veterans and yet give carte blanche to illegals entering the country. Recently an article mentioned that these kids and teenagers can get on planes without TSA screening? What? What the Hell???? Keep in mind this about protecting our national sovereignty as a nation and also living under the rule of law. Not only the terrorist threat that can come over the border. This is a deliberate and irresponsible and illegal act from administration ignoring the constitutional duty of protecting the borders and also upholding the supreme law of the land. This is a classic Cloward and Piven strategy to overload the system until it collapses.

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