News & Analysis

Carmel performing arts center betting big on fund raisingRestricted Content

October 3, 2009
Kathleen McLaughlin
Carmel’s $137 million performing arts center is still a year from completion, but Executive Director Steven Libman already is pounding the pavement for donations.
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Carmel man's coupon app for iPhone grabbing Yowza responseRestricted Content

October 3, 2009
Marc D. Allan
A Carmel software developer's app has gotten a lift from a Hollywood actor's unrelenting promotion.
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Stock-market rebound lifts hopes of Hoosier mutual fundsRestricted Content

October 3, 2009
Peter Schnitzler
The economic downturn walloped all three of the mutual funds headquartered in Indiana. But they've each enjoyed significant recoveries this year. And the smallest of the bunch has big plans to break away from the pack.
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City receives host of sale, privatization ideas for water, sewer utilitiesRestricted Content

October 3, 2009
Chris O'Malley
Officials grappling with a water utility deep in debt and a sewer infrastructure needing upwards of $2 billion in upgrades were swamped with proposals about how to fix the mess.
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New Emmis exec Charlie Morgan faces big challenges as he re-enters radioRestricted Content

October 3, 2009
Anthony Schoettle
When local radio industry veteran Charlie Morgan stepped down as president of Indianapolis Motor Speedway Productions last month, it could’ve appeared he was trying to escape the daunting problems of open-wheel racing. Unless you considered where he was going.
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Banks work to protect electronic records from identity theft

October 3, 2009
Peter Schnitzler
Banks are fighting an ongoing battle with would-be identity thieves. Because banks are where the money is, the fight is likely to go on a long time, with both thieves and banks growing in sophistication.
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Connersville progresses on Carbon Motors deal

October 2, 2009
Kathleen McLaughlin
Connersville Mayor Leonard Urban says the city soon will clear legal and environmental hurdles that stand in the way of Carbon Motors’ launching its operations in the former Visteon plant.
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UPDATE: Hurco exec getting $500,000 exit package

October 2, 2009
 IBJ Staff and Associated Press
James D. Fabris, who is leaving Hurco Cos. Inc. at the end of the month following a long management tenure, will receive an exit package worth more than $500,000.
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Brightpoint repurchases shares in settlement

October 2, 2009
Scott Olson
Indianapolis-based Brightpoint Inc. said Friday that it has entered into a settlement agreement with NC Telecom Holding A/S to repurchase about 3 million Brightpoint shares from the Denmark holding company. NC Telecom owned Denmark-based Dangaard Telecom before Brightpoint, the world's biggest wireless phone distributor, bought the cell phone distributor in August 2007.
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U.S. jobless rate reaches 9.8 percent in September

October 2, 2009
Associated Press
The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report is evidence that the worst recession since the 1930s is still inflicting widespread pain.
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Hurco president Fabris to resign

October 1, 2009
 IBJ Staff and Associated Press
Indianapolis-based Hurco Companies Inc., a computer control and software maker, said Thursday that James D. Fabris will resign as president and chief operating officer as of Oct. 31.
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City becomes hub of 'cryo-cooling' for truck trailers

October 1, 2009
Chris O'Malley
Indianapolis is the new operating headquarters of a Ukrainian-American venture producing refrigeration units for semi trailers. The move comes with the naming this spring of Thomas Roller as president and CEO of Ukram Industries. Roller is known locally as former CEO of Indianapolis-based Norwood Promotional Products and of Fruehauf Trailer, which was based here in the 1990s.
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State charges Stifel Nicolaus didn't disclose risks of auction-rate securities

October 1, 2009
 IBJ Staff
An administrative complaint filed today by the Indiana Secretary of State's Office alleges Stifel Nicolaus failed to disclose risks associated with the sale of auction-rate securities to 141 Hoosiers who invested $54.9 million.
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IUPUI researchers land $22M in stimulus grants

October 1, 2009
J.K. Wall
Researchers at IUPUI have been awarded more than $22.3 million in grants by the National Institutes of Health, according to U.S. Rep. Andre Carson. The money is part of a $5 billion program that was part of the federal stimulus bill approved earlier this year, and will fund medical research across the country.
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Irsay joins ranks of nation's wealthiest

October 1, 2009
 IBJ Staff
Indianapolis Colts owner Jim Irsay has joined the ranks of the richest Americans, earning a spot on this year’s Forbes 400 list of the nation’s wealthiest people.
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Whirlpool agrees to maintain Evansville operations

September 30, 2009
Whirlpool Corp. has notified state officials that it will continue to operate its refrigeration product development center in Evansville that employs nearly 300 people.
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Charter Homes owner gets 2-plus years for mortgage fraud

September 30, 2009
Cory Schouten
Charter Homes owner Jerry J. Jaquess has been sentenced to two-and-a-half years in prison and ordered to pay restitution of $825,000 for his role in a $20 million mortgage fraud scheme.
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Waterworks proposes 35-percent rate hike

September 30, 2009
Chris O'Malley
The Indianapolis Department of Waterworks today unveiled a capital-improvements proposal that would raise water rates for the average residential customer by 35 percent, or $8 a month.
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London hedge fund sues Brightpoint over failed acquisition

September 30, 2009
Peter Schnitzler
A London-based hedge fund has sued Brightpoint Inc. over a $10 million loan it alleges the Indianapolis-based cell phone distributor fraudulently brokered in anticipation of an acquisition in France that never materialized.
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Dow Agro to become Purdue research tenant

September 30, 2009
Officials of Purdue University and Dow AgroSciences unveiled a collaboration Wednesday in which the Indianapolis-based company will become one of the largest tenants at the Purdue Research Park in West Lafayette.
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Purdue student-inventor nabs VC on TV show

September 30, 2009
 IBJ Staff
A Purdue University student who invented a soy-based modeling dough walked away with a $300,000 investment after appearing Tuesday on the ABC show "Shark Tank."
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Indiana hospitals settle Medicare lawsuit

September 30, 2009
 IBJ Staff
Six hospital systems, including three in Indiana, have agreed to pay the federal government $8.3 million to settle a whistleblower lawsuit alleging the hospitals deliberately overcharged Medicare for routine back surgeries.
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Indiana mine operations to close, costing 80 jobs

September 29, 2009
 IBJ Staff
Peabody Indiana Services LLC notified the Indiana Department of Workforce Development on Monday that it will close its surface mine operations at Francisco in southwestern Indiana, putting about 80 employees out of work.
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Toll road operator among water-utility suitors

September 29, 2009
Chris O'Malley
Among 23 firms that have expressed interest in operating Indianapolis’ water and sewer systems is Macquarie, the Australian firm that operates the Indiana Toll Road under a 75-year, $3.8 billion lease. In July, the city asked companies to express interest in operating the systems.
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Spurned Sponsel creates own CPA firm

September 29, 2009
Scott Olson
A longtime partner of Indianapolis-based Greenwalt Sponsel & Co. Inc. has left the accounting firm and started his own after he said it became apparent he would not become managing partner.
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