Seven years of work expected for central Indiana highway
Work is to start next year on upgrading the highway through Carmel and Westfield to interstate standards in phases through
2017.
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Daniels says I-69 ahead of schedule, but critics wary
The Interstate 69 extension between Evansville and Bloomington is on budget and should open years ahead of schedule in 2014,
Gov. Mitch Daniels said Wednesday.Company news
Warren Buffett’s Berkshire Hathaway Inc. sold off its entire stake of WellPoint Inc. stock in the
first quarter, the firm reported Monday. Buffett’s firm owned more than 1.3 million shares of WellPoint—an Indianapolis-based
health insurer that has more than 432 million shares outstanding. His firm also disposed of its stake of nearly 1.2 million
shares in Minnesota-based UnitedHealth Group, another large health insurer. Berkshire Hathaway first invested in WellPoint
in the first quarter of 2007, spending nearly $80 million to acquire nearly 1 million shares. In the three years since, WellPoint
shares have lost 36 percent of their value. The company’s shares closed Monday at $53.52 apiece.U.S. Health and Human Services Secretary Kethleen Sebelius came to Indianapolis Friday to award the Indiana University
School of Medicine an $8.5 million federal grant to renovate a former research floor at Riley Hospital for Children.
The renovations, which are set to be completed in 2012, will enable the hospital to conduct pediatric clinical research trials
by adding 18,500 square feet of bio-storage and laboratory space. “Most drugs and diagnostics are tested in adults—but
children aren’t just little adults,” said Dr. Craig Brater, dean of the IU School of Medicine. The federal grant
is one of 146 American Recovery and Reinvestment Act construction awards, totaling $1 billion, given to build, repair and
renovate scientific research labs and related facilities nationwide.Bioanalytical Systems Inc. narrowed its losses in its second quarter even though it suffered a 2-percent
drop in revenue. The West Lafayette-based contract research firm reported a $1.2 million loss in the period ended March 31,
compared with a $1.8 million loss reported for the same period last year. Revenue was down $200,000, to $6.9 million. Nearly
half of the loss came from $520,000 in expenses from staff reductions. Bioanalytical recently named Anthony S. Chilton as
president and CEO following the retirement of top executive Richard M. Shepperd earlier this year. Chilton, 53, had been Bioanalytical’s
chief operating officer since 2008.Construction could begin as early as June 1 on a $225 million hospital in northern Indiana after the Porter County Plan Commission
approved the building plans, the Associated Press reported. Community Health Systems plans to build the five-story,
250-bed hospital at U.S. 6 and State Road 49. Porter hospital officials in Valparaiso say the last step to be completed is
an archaeological and bat survey.
Interstate 70 shortcut getting an obstacle
INDOT plans to put a traffic signal on a well-known west-side shortcut from Interstate 465 southbound to I-70 East, a move
stemming from the rebuilding of Sam Jones Expressway.Sales/acquisitions
-Duran Property Group purchased 1.5 acres at the southwest corner of State Road 44 and Progress Parkway in Shelbyville Marketplace, a mixed-use development in Shelbyville. The price wasn’t disclosed. Duran, owned by Dr. Dan Duran, plans to start construction this spring on a 14,000-square-foot building on the site. It will house Duran’s chiropractic business and other tenants. The seller, Progress Parkway LLC, was represented by Thompson Thrift, which will be the exclusive leasing agent for the building. The buyer represented itself in the transaction.
-Aaron’s Rents purchased a .98-acre outlot near the southwest corner of State Road 44 and Progress Parkway in Shelbyville Marketplace, a mixed-use development in Shelbyville. The price wasn’t disclosed. The buyer was represented by Chris Hake of Thompson Thrift. The seller, Progress Parkway LLC, was represented by O.J. Stocker of Thompson Thrift.
IU targets tech-transfer gap
Indiana University is showing signs that it’s finally serious about translating research into commercial product, through
grants it is awarding via its $10 million Innovate Indiana Fund and by developing a computing technology mini-campus.New Interstate 69 shows poor judgment
Two of the principal obligations of government are that it should be accountable to its citizens, and that it should operate
at a reasonable level of efficiency.Cabela’s revs up expansion, but leaves Greenwood off list
The Nebraska-based outdoor retailer plans to open new stores again after a two-year, recession-induced halt on expansion.
But the company is not reviving its plan for the 96-acre plot it owns in Greenwood.Mass Ave project adds garage, wins approval
Work could begin this fall on $10 million Trail Side complex.
Carmel Performing Arts Center not too big to fail
Cory Schouten’s [April 26 Focus] article regarding the supposed “momentum” for Carmel’s Performing
Arts Center (PAC) lacked information, and clouded the overall picture.TAYLOR: Reform will drive demand for health care facilities
There has been a noticeable uptick in the level of health care real estate development activity this year.
Connector bridges gap between convention center and stadium
Designers of a walkway that connects the buildings are making the experience as attractive as possible in order to overcome
the psychological barrier of moving from one building to another.Clarian hospital system regains its appetite to build
Clarian is planning to spend $1.7 billion in the next five years on capital projects, half of that going to its downtown Indianapolis
campuses.Carmel City Center gaining momentum
Thirteen years after Mayor Jim Brainard first described his vision for a new downtown along Range Line Road, Carmel City Center
is starting to look like a city.Live Nation seeks dismissal of Murat lawsuit
Beverly Hills, Calif.-based entertainment company says lease gives it the right to change venue’s name to Old National Centre.
Lender suffers own painful loss after homeowner’s death
A home that fetched $1.6 million in 2005 fetched a mere $370,000 when the lender sold it last year.
Utilities face conundrum with carbon dioxide emissions
So-called carbon capture and sequestration, or CCS, is seen by some in the utility business as a potential salvation for coal.
But utilities may face a damned-if-you-do, damned-if-you don’t scenario.