News & Analysis

UPDATE: Pipeline challenges force Lilly restructuring moves

September 14, 2009
J.K. Wall
Since John Lechleiter was named CEO 18 months ago, he's bet that Eli Lilly and Co. could face down its looming patent challenges by launching innovative new medicines. Today's announcement of 5,500 job cuts by the end of 2011 and a restructuring of the company's business units ups the ante on that bet, while indicating that it isn't working yet.
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Lilly reorganization to cut 5,500 positions over 2 years

September 14, 2009
J.K. Wall
Eli Lilly and Co. will cut 5,500 jobs by the end of 2011 as it tries to cut $1 billion in expenses before it loses revenue from its bestselling drug, Zyprexa. Lilly CEO John Lechleiter said he did not know how many of those cuts would occur in central Indiana. But with 13,600 employees working in the Indianapolis area, he acknowledged the largest chunk of reductions likely would come here.
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Symphony musicians reject contract offer

September 12, 2009
Kathleen McLaughlin
Indianapolis Symphony Orchestra musicians and librarians unanimously rejected a new contract offer, suggesting they might not easily accept the same deep pay cuts seen at major orchestras around the country.
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Local health care industry tries to capitalize on migraine headaches

September 12, 2009
J.K. Wall
Migraines cost American employers $20 billion a year in decreased worker productivity. Such a frequent and uncured disease stands as a huge business opportunity for the health care industry, including locally based pharmaceutical giant Eli Lilly and Co.
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Adjacent Central Canal parcels go on the market

September 12, 2009
Cory Schouten
The owners of two industrial properties that span an entire city block along the Central Canal downtown have put their properties up for sale with an eye toward redevelopment.
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Environmental consultant renovates offices to LEED standardRestricted Content

September 12, 2009
Scott Olson
August Mack Environmental Inc. renovated the historic Lexington building in downtown Indianapolis with recycled components and energy-efficient lighting.
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Poll shows IBJ Daily readers keenly interested in the environment

September 12, 2009
Marc D. Allan
A solid majority of subscribers to IBJ Daily believes climate change is a serious problem, thinks carbon emissions should be regulated, and wants Indianapolis to pursue mass transit on a broad scale, according to a poll conducted in July by IBJ.
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Results of 'green' poll of IBJ Daily subscribers

September 12, 2009
 IBJ Staff
Detailed results of a July poll of IBJ Daily readers on their sentiment on environmental issues.
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This year's Indy Jazz Fest to focus on music puristsRestricted Content

September 12, 2009
Kathleen McLaughlin
Indy Jazz Fest’s new promoters are taking a bold step with an already-risky venture. They’re turning the 10-year-old event into one for jazz purists.
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City's cash-strapped parks turn to private sector for ideas, manpower

September 12, 2009
Peter Schnitzler
Mayor Greg Ballard's administration has asked the businesses for ideas on
                     how Eagle Creek Park and Riverside Regional Park each could cut costs and generate more revenue.
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Ex-Lauth executive: 'Every day is a struggle' after a year of unemploymentRestricted Content

September 12, 2009
Cory Schouten
Michael Hartman earned a six-figure salary as a vice president at Lauth Group Inc. until he was laid off in early 2008. Since then, he’s struggled to find a job—any job that would allow his family to stay in their Westfield home.
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New Columbia Club general manager trying to reverse membership slideRestricted Content

September 12, 2009
Peter Schnitzler
James Rentschler hopes to restore the Columbia Club’s luster, and its membership roster, by returning the institution to its gilded roots.
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Benefits brokers fear impact of health insurance exchangesRestricted Content

September 12, 2009
J.K. Wall
If Congress implements a new system of health insurance exchanges across the country, Indianapolis benefits broker Joe Guzman is confident he and his peers would take a hit.
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After comeback, former United maintenance facility faces challengesRestricted Content

September 12, 2009
Chris O'Malley
The mammoth facility near Indianapolis International Airport now employs as many people as it did when United Airlines abandoned it six years ago, but its new tenants are contending with struggles of their own.
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Nucor Steel struggling to strike new power deal with Duke Energy

September 12, 2009
Chris O'Malley
After two years of fruitless negotiations, the Crawfordsville steel mill has asked the Indiana Utility Regulatory Commission to intervene. More than 700 jobs depend on Nucor and Duke striking a deal.
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Civic Theatre considering move to Carmel

September 11, 2009
Kathleen McLaughlin
Indianapolis Civic Theatre, one of the city’s oldest and largest cultural organizations, is considering a move to Carmel’s new performing arts center. Civic informed its current host, Marian University, yesterday of pending negotiations with the Carmel Performing Arts Foundation.
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Music Mill to reopen again under new owner

September 11, 2009
Jeff Newman, Scott Olson
The Music Mill, a local concert venue, restaurant and bar that has been closed down twice this year by different operators, has new life. Local entrepreneur Ravi Chopra, 44, who owns the 6 Lounge & Restaurant downtown, announced last night that he has purchased the Music Mill and plans to reopen it Oct. 12.
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Policyholders could pay more under Obama health plan

September 11, 2009
Associated Press
If President Barack Obama gets what he wants in his health care plan — covering all Americans and barring insurers from denying coverage — some analysts say individuals could wind up paying higher premiums.
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Museum of Art hires chief operating officer

September 11, 2009
 IBJ Staff
The Indianapolis Museum of Art announced this week that it has hired a veteran of the New York City arts community to fill its chief operating officer position.
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Area home-sale agreements level off, prices still falling

September 10, 2009
 IBJ Staff
The housing slump may be weakening in the nine-county Indianapolis area, if a report released today by F.C. Tucker Co. is any indication.
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Raytheon lays off 77 at local avionics center

September 10, 2009
Chris O'Malley
Raytheon Technical Services Co. LLC today eliminated 77 jobs at its avionics development center at 6125 E. 21st St. in Indianapolis.
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Purdue lands $105M grant to fund earthquake center

September 10, 2009
 IBJ Staff
Purdue University announced today that it has received $105 million from the National Science Foundation to fund a center to research earthquakes and tsunamis.
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Sanctions lifted, WellPoint returns to Medicare biz

September 10, 2009
J.K. Wall
Nine months after being suspended as a contractor for the federal Medicare program, WellPoint Inc. is back in the game.
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Community Fair promotes volunteerism

September 10, 2009
The city of Indianapolis and United Way of Central Indiana will host the eighth annual Community Fair on Monument Circle from 11 a.m. to 2 p.m. tomorrow to commemorate the anniversary of 9/11.
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Lithium-ion battery maker names new president

September 10, 2009
 IBJ Staff
EnerDel, an Indianapolis-based producer of automotive lithium-ion batteries, has named a new president, the company announced today.
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