Bidders for baseball stock awaiting auction results
Die-hard Indianapolis Indians fans who bid on shares of the minor-league baseball team's stock will soon know if they
own a piece of the club.
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Six bidders in line for Indianapolis Indians stock
State awards unclaimed shares of the minor league baseball team to bidders who offered as much as $27,505 for each share.
UPDATE: Commission approves City Market funding
The Metropolitan Development Commission voted Wednesday afternoon to release nearly $4 million to
improve
the historic building in downtown Indianapolis.City takes risk with debt-laden IT-overhaul pick
To spearhead a once-in-a-generation overhaul of local government’s antiquated back-office computer system, Mayor Greg Ballard
has chosen an unprofitable software firm that as recently as March 31 warned investors that debt-refinancing issues could
force it out of business.Fort Ben home, condos fail to sell at auction
Auction turns up no buyers for the former home of the commanding general at Fort Benjamin Harrison and four condominiums at
the old Army base.Bond swaps cost city units $93M in penalties
Wall Street bankers for decades sold municipalities like Indianapolis on debt instruments called swaps as a safe way to reduce
borrowing costs and hedge against rising interest rates. In reality, the swaps were complicated bets that relied
on misguided assumptions, and taxpayers paid.Wishard construction bids starting to flow
About $72 million in bids have been awarded so far for the $754 million Wishard Hospital project—ahead of schedule
and under budget, for the time being—including demolition and foundation work.Risk inherent with bid to bring World Cup to Indy
But promoters of effort to bring global soccer competition here in 2018 or 2022 aren’t concerned about repeat of financial
failures of World Basketball Championships.Company news
Roche Diagnostics, which runs its U.S. operations out of Indianapolis, has partnered with IBM to develop a DNA sequencer much faster and cheaper than current technology. Roche and IBM ultimately want to provide a test that performs whole genome sequencing for $100 to $1,000 per test. Such wide access could make genetic sequencing as standard as biopsies, for example, and then allow medical professionals to “personalize” medical treatment based on a person’s genes. As part of the agreement, Roche will fund continued development of the technology at IBM and provide additional resources and expertise through collaboration with Roche’s sequencing subsidiary, Maryland-based 454 Life Sciences. Roche will develop and market all products based on the technology.
Indianapolis-based insurer WellPoint Inc. said its California subsidiary will dial down rate hikes that drew national outrage earlier this year and helped spark a final push for health care reform, according to the Associated Press. WellPoint now plans to raise rates by 14 percent for California individual policyholders. It will cap rate hikes at 20 percent, even though the company said it would lose $100 million on the plans this year. In April WellPoint withdrew increases that averaged 25 percent—and topped out at 39 percent—after consumers and President Barack Obama expressed outrage. WellPoint defended the hikes by saying rising medical costs and healthy people dropping coverage during the recession were forcing it to raise rates. But an outside actuary also found math errors, which prompted last week’s reduction.
About $72 million in construction bids have been awarded so far for the new Wishard Hospital. The contracts total about 14 percent of the entire construction package for the $754 million project, said Matt Gutwein, president and CEO of Health & Hospital Corp. of Marion County, which owns the hospital. He said the new hospital is on schedule and slightly below budget. The 1.2-million-square-foot hospital will be built on 37 acres at the west end of the IUPUI campus. Bids that have been awarded include demolition work, as well as work on a parking garage, the hospital’s foundation and utilities. Wishard hopes to award all contracts by January.
Hilbert mansion to be auctioned
CNO Financial Group Inc. will resort to a sealed-bid auction to unload the lavish Hilbert mansion in Carmel, which has been
on the market for five years. Its latest asking price was $9.9 million.Daniels criticized for lopping costs on I-69 extension
Detractors of new-terrain route say cost cuts undermine economic development premise for extending the interstate.
Key city highway to be closed for beautification project
Commuters and truckers could get an all-day headache when Interstate 70 closes in October to allow Eli Lilly and Keep Indianapolis
Beautiful to spruce up part of the city.Centaur wins approval to sell Colorado casino
Luna Gaming Central City LLC is paying $7.5 million in cash plus a $2.5 million note, less adjustments. There were no competing
bids.Bid deadline looms for former Hilbert mansion
The 25,000-square-foot mansion once owned by Conseco Inc. founder Stephen Hilbert was listed five years
ago at $20 million—and
about half that in recent months. Now the property is being sold in a sealed-bid auction, and offers are due Friday.Former Hilbert mansion draws local interest in auction
Sealed-bid auction attracts a half-dozen bids from interested owners that are “more centrally located than you might think,”
said the listing agent.Traffic-signal maker flashing red over Indianapolis contract
Domestic vendor who thought “buy American” provision would help it win contract loses out to Taiwanese supplier.
IU ready to pay up for big-time football coach
IU Athletic Director Fred Glass sees a day when the school's football coach makes as much as the basketball coach. He promises IU will fight for BCS bowl bids.
Poor economy keeping Wishard project costs down
Contractors starving for work are submitting more competitive bids, which so far has led to about $10 million in savings, hospital official says.
Super Bowl crew hustles to prep for 2012 event in Indianapolis
CEO Allison Melangton deliberately hired only Indiana residents to tap a deep talent pool and play up Hoosier hospitality.
Lucas Oil owners to buy former Hilbert estate
Lucas Oil Products Inc. owners Forrest and Charlotte Lucas confirmed they were buying the property for $3 million at a news conference Wednesday afternoon. It will be used for “business activities and community functions.”