Ehren Bingaman, executive director of the Central Indiana Regional Transportation Authority, will join architecture and engineering firm HNTB Indiana. He was one of the principal supporters of the mass-transit plan that stalled in the Statehouse this year.
The CSX Building at the southwest corner of Pennsylvania and Georgia streets and space formerly occupied by Nordstrom within Circle Centre mall have emerged as potential locations for the newspaper’s new headquarters.
The newspaper’s publisher confirmed it’s closing in on a deal to occupy the space after IBJ reported earlier Wednesday that the Star was considering a move to Circle Centre mall.
The executive director of the startup advocacy group will devote himself to Social Reactor, a social media startup within Scott Jones’ question-and-answer service ChaCha Search Inc.
Daniel Beckley, former executive director of the Charleston Symphony Orchestra, will take responsibility for the Indianapolis Symphony Orchestra and the Hilbert Circle Theatre.
Using the headline “Daniels looked to censor opponents,” the Associated Press reported last week that former Gov. Mitch Daniels “pledged to promote academic freedom when he became president of Purdue University in January, but newly released emails show he attempted to eliminate what he considered liberal ‘propaganda’ at Indiana’s public universities while governor.”
More than a year ago, I divorced Google. Why? Its terms of service and privacy policies are objectionable.
Reading Greg Morris’ [July 15] editorial made me sad for Indiana’s citizens.
New Haven should have everything going for it. Yet, in 2010, FBI data showed it to be the fourth most dangerous city in the United States
Eli Lilly and Co. will freeze pay this year for most workers, including executives, in a move designed to save $400 million by the end of 2016, according to Bloomberg News. The Indianapolis-based drugmaker, which employs more than 38,000 workers worldwide, is reducing expenses and counting on emerging markets, animal health products and experimental diabetes drugs to revive growth as it loses revenue from top products to generic competitors. Cymbalta, a depression pill that at $5 billion a year is the drugmaker’s biggest seller, loses U.S. patent protection in December. That development, as well as the 2014 expiration of patents on the osteoporosis drug Evista, will slash Lilly’s revenue 20 percent, the company said.
Indianapolis-based ApeX Therapeutics, a cancer drug discovery firm, received a $240,332 grant from the National Cancer Institute at the National Institutes of Health via the Small Business Innovation Research program. ApeX, which uses technology licensed from Indiana University, will use the grant to develop an oral or injectable medicine to treat leukemia and other tumors in children. ApeX previously received funding from Indiana University's Innovate Indiana Fund and Indianapolis-based Pearl Street Venture Fund.
Indianapolis-based Elevate Ventures invested $50,000 in Evansville-based Curvo Labs LLC, which has developed a data platform to help hospitals, surgery centers and medical device companies share information. Curvo uses supply purchase histories and surgeon preference data from hospital and surgery centers to identify business opportunities for medical device companies. It also helps hospital administrators drive down their costs of purchasing medical devices. Elevate Ventures is a private organization charged with investing funds provided by the state of Indiana.
The Indianapolis-based IndyCar Series and open-wheel racing enthusiasts were hoping the movie would create a buzz about the sport, but interest has fallen short of expectations so far.
Chicken chain Zaxby’s spring sponsorship deals with the sports programs at IU and Purdue now make more sense: Central Indiana is slated to get its first location later this year. Plus more retail news.
Indianapolis-based Angie’s List's stock continued to tumble Thursday morning after an analyst downgraded the stock following a report that Internet giant eBay will test its own consumer-reviews site in the United Kingdom.
Don’t believe the stories of danger and destruction. Cell phones in America aren’t likely to explode in your ear.
Indianapolis-based ApeX Therapeutics Inc. has raised $2.5 million to fund clinical trials of an experimental childhood leukemia drug. The fundraising, disclosed in a filing with the U.S. Securities & Exchange Commission, was partly funded by Indianapolis-based BioCrossroads’ Indiana Seed Fund II. ApeX’s drugs are based on the work of Mark Kelley, a researcher at the Indiana University School of Medicine.
WellPoint Inc. CEO Joe Swedish predicted July 24 that the Indianapolis-based company’s operating revenue will soar nearly 27 percent over the next three years, to a whopping $90 billion, up from about $71 billion this year. He added that he expected the revenue growth to also come with compounded growth in annual profit of 4 percent to 6 percent per year—even before any acquisitions. Previously, there were concerns both inside and outside WellPoint because a huge portion of the company's profit comes from its plethora of small employer customers. With Obamacare creating new online exchanges later this year for those small employers, it looked like WellPoint would struggle to compete with more health insurers and in unfamiliar markets, just to hold its profit steady. But now, most health insurers are just focusing on the local markets where they are already strong, WellPoint officials said—rather than trying to steal business from their peers. And WellPoint thinks its well-recognized brand and established relationships in local markets will win the day in the exchanges. In addition, WellPoint expects growth to come as half of the 14 states in which WellPoint operates its Blue Cross and Blue Shield plans expand their Medicaid programs. WellPoint’s 2012 acquisition of Amerigroup Corp. is helping WellPoint move from an employer-focused company to one with a competitive business for managing government-funded health plans.
Sales grew but profit fell in the second quarter at Dow AgroSciences LLC, the company reported July 25. The Indianapolis-based ag biotech firm racked up nearly $1.9 billion in revenue in the quarter, an increase of 10 percent from the same period a year earlier. Quarterly profit totaled $290 million before accounting for interest, taxes, depreciation and amortization—down from last year’s second-quarter record of $307 million. Sales of crop-protection products rose 12 percent, driven by large gains in Latin America, where sales of new crop-protection products grew 14 percent. Dow AgroSciences is a unit of Michigan-based Dow Chemical Co.
Zimmer Holdings Inc. saw second-quarter earnings slump 29 percent as the orthopedic-device maker set aside an additional $47 million to cover the cost of lawsuits related to its Durom hip cups, according to the Associated Press. The Warsaw-based company stopped marketing the products in 2008 and has put more than $400 million in reserve to cover potential legal costs, including $108 million in the fourth quarter of 2012. Earnings fell to $152.1 million, or 89 cents per share, from $214.5 million, or $1.22 per share, a year ago. If the legal reserve charge and other one-time items are excluded, Zimmer said, its earnings rose to $1.43 per share from $1.34 per share. Revenue increased 4 percent, to $1.2 billion. Zimmer narrowed its profit guidance for the year and now expects to earn $5.70 to $5.80 per share. The company had previously projected adjusted profit of $5.65 to $5.85 per share.
Eli Lilly and Co. earned $1.2 billion in the second quarter, an increase of 31 percent compared with the same quarter last year, the drugmaker reported July 24. Earnings per share totaled $1.11, compared with 83 cents a year ago. Because it outperformed analysts’ expectations, Lilly hiked up its profit expectations for the year by a range of 13 cents to 18 cents per share. The company now expects to earn $4.28 to $4.38 for the year. In the second quarter, Lilly was able to boost its sales 6 percent worldwide, to $5.9 billion. Lilly’s best-selling drug, the antidepressant Cymbalta, is set to lose its U.S. patent protection in December, after which its sales will switch to cheaper generics. Sales of Cymbalta grew 22 percent in the second quarter, to nearly $1.5 billion. Lilly is hoping to win approval on new diabetes and cancer drugs to offset those coming hits to its sales. Lilly expects a 20-percent reduction in revenue in 2014 because of the U.S. expiration of the Cymbalta and Evista patents.
WellPoint Inc. earned $2.64 per share in the second quarter, the health insurer reported July 24. Excluding investment gains, WellPoint earned $2.60 per share, a 27.5-percent increase over the same quarter a year ago. WellPoint raised its full-year profit forecast 20 cents per share, excluding the impact of investments, to $8 per share. Overall profit for the quarter rose 24 percent from a year ago, to $800.1 million, as WellPoint’s customers continued to file modest amounts of medical claims. WellPoint spent 83.9 percent of its premium revenue on claims, a tick higher than in the first quarter but well below its predicted level of 85.5 percent for the year. WellPoint’s revenue for the quarter rose 16 percent, to $17.8 billion. WellPoint provided health benefits for 35.7 million Americans at the end of June, more than any other company in the United States.
We hope society’s leaders will do well for us in times of turmoil. In the days following the verdict in the Florida trial of George Zimmerman, this state’s public figures responded to a difficult moment in ways that showed humanity and skill.
When Gov. Mike Pence was Indiana Policy Review Foundation president in the 1990s, editors of the foundation’s flagship publication, Indiana Policy Review, constantly harped at their writers to use precise English. The masthead even sported a Lord Acton quote: “When words lose their meaning, men lose their liberty.”
Indianapolis is home to three amazing institutions that try to improve public school education—The Mind Trust, Teach for America and IUPUI School of Education—but reform rhetoric is hurting their efforts.
Detroit is a symbol of the old economy’s decline. The metropolitan area lost population between 2000 and 2010, the worst performance among major cities. Atlanta, by contrast, epitomizes the rise of the Sun Belt; it gained more than 1 million people.
