News & Analysis

ITT Educational scrutiny spreads to college’s lenders

August 7, 2014
Bloomberg News
For-profit college ITT Educational Services Inc., already under pressure from the U.S. Education Department, is facing stricter terms from lenders that could put its operations at risk.
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Baldwin & Lyons' profit surges on big investment gains

August 7, 2014
 IBJ Staff
Of the insurer's $9.3 million in profit in the second quarter, only $4.1 million was attributed to its core operations.
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Finance company cutting 170 jobs in Evansville

August 7, 2014
 Associated Press and IBJ Staff
Springleaf Finance, a division of Springleaf Holdings Inc., has told state officials that it will permanently close its 170-worker mortgage servicing center in Evansville.
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Calumet Specialty takes loss after refinery slowdown

August 7, 2014
 IBJ Staff
Calumet Specialty Products Partners LP suffered a bigger-than-expected second-quarter loss, partly due to a 30-day slowdown for maintenance at its refinery in Shreveport, Louisiana.
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Celadon misses mark despite jump in revenue, profit

August 6, 2014
 IBJ Staff
Celadon Group Inc. on Wednesday afternoon reported surging profit and revenue in its latest quarter, but its performance fell short of analyst expectations.
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Bank of America close to record settlement with U.S.

August 6, 2014
Associated Press
Bank of America is nearing a $16 billion to $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, a person directly familiar with the matter said Wednesday.
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City OKs $10M in street upgrades for natatorium plan

August 6, 2014
 IBJ Staff
The Indianapolis Metropolitan Development Commission on Wednesday approved $10 million in downtown tax-increment financing funds to pay for street improvements on the IUPUI campus. The contribution works in conjunction with IUPUI's $20 million overhaul of the IU Natatorium.
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Indiana agrees to $3M settlement in school test hitch

August 6, 2014
Associated Press
Indiana's state schools superintendent says she has reached a $3 million settlement with CTB/McGraw-Hill after disruptions to standardized tests last year.
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Rush named first female Indiana Supreme Court chief justice

August 6, 2014
Associated Press
Loretta Rush, a longtime juvenile court judge who joined the Indiana Supreme Court in 2012, was unanimously chosen as the state's first female chief justice Wednesday, setting the stage for what could be a long run at the court's helm.
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UPDATE: City board approves recycling deal with Covanta

August 6, 2014
Kathleen McLaughlin
Despite heavy lobbying from opponents, the Indianapolis Board of Public Works on Wednesday voted 4-1 in favor of a contract extension with incinerator operator Covanta that will make the company the city's main household recycling provider for the next 14 years.
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Vote would let big conferences set their own rules

August 6, 2014
Associated Press
The NCAA board of directors will vote Thursday on a proposal that would give the five wealthiest college football conferences the ability to make rules and pass legislation without the approval of the rest of Division I schools.
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City board approves recycling deal with Covanta

August 6, 2014
 IBJ Staff
The Indianapolis Board of Public Works voted Wednesday to approve Covanta as the city’s main residential recycling provider for the next 14 years.
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Amazon extends same-day delivery service to Indy

August 6, 2014
 IBJ Staff
Beginning Wednesday, local customers who subscribe to Amazon's Prime service can order items as late as noon and receive them by 9 p.m. the same day for a flat service charge.
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Second city Land Bank defendant pleads guilty

August 6, 2014
Cory Schouten
A second defendant in an alleged kickback scheme involving the Indy Land Bank has pleaded guilty, and a judge has moved a trial for three remaining defendants to early 2015.
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Panel set to select next Indiana Supreme Court leader

August 6, 2014
Associated Press
The Judicial Nominating Commission will meet Wednesday to interview Justices Loretta Rush, Mark Massa, Steven David and Robert Rucker before selecting a new chief justice to succeed Brent Dickson.
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Memories, recipes all that remain of Indy bakery chain

August 6, 2014
Associated Press
There were 34 Roselyn stores in Marion and the surrounding counties before the business was closed 15 years ago following revelations of insect and rodent infestation at its production bakery.
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KAR Auction Services makes $30M acquisition

August 6, 2014
 IBJ Staff
Carmel-based KAR Auction Services Inc., which released a solid quarterly earnings report Tuesday, acquired a 50-percent stake in Toronto-based Nth Gen Software Inc., which makes the TradeRev automotive remarketing system.
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Ten-acre parcel near Colts stadium hits the market

August 6, 2014
Scott Olson
The vacant property west of Lucas Oil Stadium could get a boost from redevelopment efforts at the former GM stamping plant site just across White River.
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After setbacks, Franklin wary of more development deals

August 6, 2014
Associated Press
A backlog of unfinished work by the Franklin Development Corp. is why Mayor Joe McGuinness doesn't want to give new funding to the organization until the pending projects are finished.
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WellPoint unit launching $80M information exchange

August 6, 2014
Associated Press
Two insurers announced Tuesday that they are partnering for an ambitious project to establish one of the nation's largest health-information exchanges, an effort they hope will reduce duplication and improve patient outcomes.
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Walgreen turns down inversion, to keep HQ in U.S.

August 6, 2014
Associated Press
The nation's largest drugstore chain said it will no longer pursue an overseas reorganization that would have trimmed the amount of U.S. taxes it pays.
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State studies whether to reduce rules for licensed workers

August 5, 2014
 The Statehouse File
The changes could impact some 470,000 Hoosiers, including health care workers, barbers, plumbers, social workers and others – people who face rules that critics say are far too burdensome.
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Feds require state to talk to Native Americans for HIP 2.0 plan

August 5, 2014
 The Statehouse File
State officials met Tuesday with members of the Pokagon Band of Potawatomi Indians in an effort to satisfy federal regulators who are considering a proposed expansion of the state’s low-income health insurance program.
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Three killed in shooting outside Indiana business

August 5, 2014
Associated Press
A northern Indiana sheriff said three people are dead following a shooting outside a furniture plant in the city of Monticello.
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Gannett just latest player to separate print, digital media

August 5, 2014
Associated Press
Some observers see the rush to separate less profitable print businesses from growing TV and digital operations as an ominous sign for the newspaper industry.
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