Latest News

St. Vincent Health plans job cuts, but mum on numbers

jkwall@ibj.com — Thu, 23 May 2013 20:27:00 GMT

St. Vincent Health will lay off an unspecified number of employees across its 22-hospital network by June 30 in a cost-saving move. The hospital blamed the job losses on Obamacare, cuts to Medicare reimbursement, and lower-than-expected volumes of patient procedures.

Denver-based firm laps up BlueMile running chain

aschoettle@ibj.com — Thu, 23 May 2013 20:23:00 GMT

BlueMile, a local six-store running specialty chain, has been acquired by a group that includes Indianapolis-based sports goliath The Finish Line Inc. The deal is expected to speed BlueMile's expansion.

Ivey stepping down as leader of Pulliam trust

Thu, 23 May 2013 19:45:50 GMT

Harriet Ivey, president and CEO of the Nina Mason Pulliam Charitable Trust since its founding more than 15 years ago, plans to retire early next year, the trust announced Thursday.

City to award towing contract to California firm

kmclaughlin@ibj.com — Thu, 23 May 2013 16:22:00 GMT

Indianapolis will choose a San Francisco-based company to oversee city-ordered towing under a contract expected to be authorized Thursday afternoon.

Waste-management firm hit with environmental fines

dhuman@ibj.com — Thu, 23 May 2013 15:15:00 GMT

Some of the violations cited by the state are related to poor handling of hazardous materials at the Heritage-Crystal Clean Inc. facility in Speedway.

U.S. unemployment aid applications show decline

Thu, 23 May 2013 14:23:00 GMT

Jobless claims are showing gradual improvement, but for hiring to strengthen enough to lower the unemployment rate to a more normal level, companies must gain more confidence in the economy.

Celadon acquires Canadian trucking company

Thu, 23 May 2013 13:43:00 GMT

Hyndman Transport Limited, based in Wroxeter, Ontario, operates about 175 tractors and brought in roughly $48 million in revenue in 2012.

Fort Wayne schools want 3rd party to review ISTEP

Thu, 23 May 2013 02:44:48 GMT

Indiana's largest school district says it won't accept results of this year's standardized testing until an independent third party validates the scores.

Mayor suspends land bank after indictments

Thu, 23 May 2013 02:16:00 GMT

Indianapolis Mayor Greg Ballard on Wednesday sidelined a city program that sells vacant and tax-delinquent properties, one day after federal prosecutors indicted two of its top officials for allegedly accepting bribes and kickbacks.

Three former executives sue Carbon Motors over pay

Wed, 22 May 2013 22:26:00 GMT

Executive vice presidents of a company that planned to build high-tech police cars at an eastern Indiana factory are seeking more than $600,000 in deferred wages.

Indiana presses ahead with I-69's next section

Wed, 22 May 2013 21:10:00 GMT

The company that will build the 21-mile Bloomington-to-Martinsville segment by upgrading existing State Road 37 will sign a public-private deal under which it will arrange its own financing to design and build that stretch.

Pittman pitches $90M mixed-use project for Zionsville

adavis@ibj.com — Wed, 22 May 2013 16:27:00 GMT

One of the highest-profile tracts of undeveloped land in Zionsville could be transformed into a commercial and residential hub if Pittman Partners' 62-acre project gets the town’s blessing.

Polaris plans $4.7 million laboratory expansion

Wed, 22 May 2013 15:55:00 GMT

Polaris Laboratories LLC, an Indianapolis-based company that analyzes oil, fuel and coolants, said it plans a $4.7 million local expansion that will add up to 25 employees by 2016.

Kennedy partners with Olympic runner to buy shoe chain

aschoettle@ibj.com — Wed, 22 May 2013 15:21:00 GMT

Indiana running icon Bob Kennedy believes Movin Shoes Inc. has great potential for growth. Its California location doesn't violate Kennedy's non-compete agreement with Indiana's BlueMile chain.

Stonegate raises $115M to fund jumbo mortgage expansion

Wed, 22 May 2013 15:08:10 GMT

The fast-growing Indianapolis-based firm will use the funds to fuel originations of loans not intended for government-backed programs, as well as to build its portfolio of servicing contracts, CEO Jim Cutillo said.

EPA seeks to add Keystone property to Superfund list

Wed, 22 May 2013 14:57:00 GMT

The U.S. Environmental Protection Agency on Tuesday proposed adding three sites in Indiana—including one in Indianapolis—to its highest priority cleanup list for hazardous waste sites.

Lilly Endowment's $3.4M grant to bring more teachers to Indy

Wed, 22 May 2013 14:26:00 GMT

Indianapolis-based education reform group The Mind Trust will use the grant to help support teacher recruitment and training programs such as Teach for America.

Indiana ambulance plant with 165 workers closing

Wed, 22 May 2013 13:54:21 GMT

The decision to close the Elkhart factory comes two weeks after Allied Specialty Vehicles bought SJC Industries. Production will be moved to a Florida factory in the coming months.

ESPN counting on story lines to sell Indy 500

Wed, 22 May 2013 03:24:53 GMT

There is no shortage of compelling story lines accompanying Sunday's race, leaving television executives feeling confident about another bump in viewership this year.

Indiana BMV says it may have overcharged for licenses

Wed, 22 May 2013 03:10:00 GMT

The Bureau of Motor Vehicles made the acknowledgement in a response to a class-action lawsuit that alleges Indiana collected up to $30 million more than it should have by charging drivers more for licenses than allowed by law.

Feds used wire tap, undercover agent in Land Bank probe

cschouten@ibj.com — Tue, 21 May 2013 21:30:00 GMT

A federal public-corruption task force used a wire tap and an undercover FBI agent to unravel a fraud scheme authorities say was orchestrated by two city employees and three co-conspirators.

Fox59 lands news director from Grand Rapids

Tue, 21 May 2013 19:18:00 GMT

Kerri Cavanaugh will replace Lee Rosenthal, who oversaw a major expansion of Fox59's news programming.

Feds charge 5 in Indy Land Bank kickback scheme

cschouten@ibj.com — Tue, 21 May 2013 17:08:00 GMT

Federal prosecutors have charged two city employees in the Department of Metropolitan Development and three others in a scheme involving cash kickbacks on the sale of properties in the Indy Land Bank.

Donors help after girl's stand shut down at track

Tue, 21 May 2013 15:35:00 GMT

Morgen Morris said she had a line of customers during Saturday's Indy 500 qualifications day when a Indianapolis Motor Speedway employee told her she had to shut down her lemonade stand.

Beleaguered former IU-Kokomo chancellor lands new job

Tue, 21 May 2013 15:27:00 GMT

Michael Harris, who resigned from IU-Kokomo on Sept. 19, claimed he was the victim of a smear campaign by school administrators.

HHGregg's stock swoons after quarterly report disappoints

Tue, 21 May 2013 15:21:00 GMT

The Indianapolis-based retailer saw a big drop in earnings in its latest quarter on decreased sales, lower profit margins and higher advertising expenses, it said Monday.

St. Vincent sports practice to fill vacant Clay Terrace big box

solson@ibj.com — Tue, 21 May 2013 15:14:00 GMT

St. Vincent Sports Performance will occupy a building in Clay Terrace originally occupied by Circuit City.

Group claims Ball State prof teaching creationism

Tue, 21 May 2013 14:39:00 GMT

The Freedom From Religion Foundation has filed a formal objection with university officials over an elective honors class called "Boundaries of Science," which the foundation maintains teaches religion rather than science.

Indiana lawmakers gave approval to 12 percent of 2013 bills

Tue, 21 May 2013 14:07:00 GMT

Measures filed in the Indiana General Assembly this year faced about 1-in-8 odds of making their way to the governor's desk.

FBI searches City-County Building, makes multiple arrests in Land Bank probe

cschouten@ibj.com — Tue, 21 May 2013 13:08:00 GMT

FBI agents on Tuesday morning conducted a warrant search at the Department of Metropolitan Development in the City-County Building, shortly after agents arrested multiple people, including city employees.

Central Indiana county leaders back reservoir study

Tue, 21 May 2013 13:02:37 GMT

The Delaware County commissioners on Monday endorsed a resolution supporting environmental and engineering studies for the proposed Mounds Lake Reservoir.

HHGregg earnings sink on declining sales

Tue, 21 May 2013 03:59:00 GMT

The Indianapolis-based retailer saw a big drop in earnings in its latest quarter on decreased sales, lower profit margins and higher advertising expenses.

Sanctions against Penn State were necessary, NCAA tells judge

Tue, 21 May 2013 03:45:00 GMT

The National Collegiate Athletic Association’s sanctions against Pennsylvania State University for its role in the Jerry Sandusky sex-abuse scandal were needed to protect the integrity of intercollegiate sports, a lawyer for the Indianapolis-based association argued in court Monday.

Ex-councilor Bateman sentenced to 27 months in prison

Mon, 20 May 2013 16:30:00 GMT

Paul C. Bateman Jr. had pleaded guilty in January to his part in defrauding an Indianapolis physician of $1.7 million.

Lilly study: 1 in 5 Alzheimer's patients misdiagnosed

jkwall@ibj.com — Mon, 20 May 2013 16:10:00 GMT

The study results, which will be released Monday afternoon, are part of Indianapolis-based Lilly’s campaign to get Medicare to pay for use of its brain imaging agent Amyvid.

Deadline looms for state's Do Not Call list

Mon, 20 May 2013 14:33:56 GMT

Since January, the state attorney general's office said it has received more than 5,000 complaints about telemarketing calls from live operators or prerecorded messages.

Lids acquiring Kentucky sporting goods chain

Mon, 20 May 2013 14:19:00 GMT

The CEO of a private equity firm that helped fund the Lexington-based Fan Outfitters chain said new regulations imposed by the Affordable Care Act prompted the group to look at the offer from Lids.

Teamsters chief smacks down local pilots union

kmclaughlin@ibj.com — Mon, 20 May 2013 13:58:00 GMT

Teamsters President James Hoffa wants to rein in leaders of the pilots union at Indianapolis-based Republic Airways Holdings Inc.

Work stops on Greenwood pharmaceutical plant

Mon, 20 May 2013 11:40:00 GMT

Greenwood officials three years ago approved $8.4 million of incentives for the Elona Biotechnologies project, including the construction loan.

Proposed requirements could sink Muncie-area wind farm

Sun, 19 May 2013 18:27:10 GMT

A central Indiana official says the tough conditions opponents of a planned wind farm are seeking for the project would leave little room for the proposed power-generating wind turbines.

Purdue makes fast progress on tuition freeze

Sun, 19 May 2013 10:56:00 GMT

The school is nearly three-fourths of the way to reaching its goal of $40 million in savings or new revenue.

Counties worry about cost of sentencing overhaul

Sat, 18 May 2013 17:21:46 GMT

Indiana counties could be forced to pay some of the costs of a change in the state's criminal code that is designed to keep low-level offenders out of prison while ensuring the worst serve more of their sentences.

Athenaeum weighs bids for surface lot redevelopment

solson@ibj.com — Sat, 18 May 2013 06:10:00 GMT

Three developers are competing to build a mixed-use project likely to include a parking garage on a surface lot adjacent to the historic Athenaeum building.

Mobile health apps could cut into state companies' market share

jkwall@ibj.com — Sat, 18 May 2013 06:07:00 GMT

The future of Indiana’s sprawling health care and life sciences industry might be threatened by an unlikely source: smartphone apps.

Firms ladle trips, car allowances on top of rich pay packages

dhuman@ibj.com — Sat, 18 May 2013 06:00:00 GMT

Senior executives at Indiana's public companies last year received, on average, more in perks than the typical Hoosier earned all year, IBJ found after reviewing Securities and Exchange Commission documents for more than 60 Indiana companies.

Oesterle sells land to Angie's List, reaping millions

comalley@ibj.com — Sat, 18 May 2013 06:00:00 GMT

Angie’s List Inc. CEO Bill Oesterle has collected millions of dollars over the years by renting to the company property for its campus along East Washington Street. Now, the landlord and chief executive is pocketing millions more by selling Angie’s the property, at well above its assessed value.

Spate of banking mergers may be just the beginning

gandrews@ibj.com — Sat, 18 May 2013 06:00:00 GMT

First Merchants Corp. CEO Michael Rechin thinks a wave of bank mergers is coming—driven by financial institutions’ quest to increase profits in an environment where super-low interest rates continue to squeeze margins.

WISH-TV rakes in bucks with city's only locally produced lifestyle show

comalley@ibj.com — Sat, 18 May 2013 06:00:00 GMT

"Indy Style"--an hour’s worth of TV programming on everything from recipes to music to fitness to screen-door-repair tips--fills its show with guests who are a combination of invited guests, sponsors and one-time-only advertisers.

Union looks to settle with workers over right-to-work issue

kmclaughlin@ibj.com — Fri, 17 May 2013 19:33:49 GMT

A local union charged with violating Indiana’s right-to-work law is hoping to settle with six workers who say their dues were improperly collected.

Duke's CFO heading to Chicago real estate firm

Fri, 17 May 2013 19:13:00 GMT

Christie Kelly is credited with playing a critical role at Duke in helping the company keep a strong financial position during the recession and economic recovery.