Stock Yards Bank finalizing Di Rimini makeover plans
The bank that owns the infamous Di Rimini apartment project is offering more details about its plans to overhaul and finish the development at 733 N. Capitol Ave.
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Republicans open fire on Gregg in race for governor
Indiana Republicans opened a line of attack on Democratic gubernatorial candidate John Gregg on Tuesday with the argument that he spent too much of the state's money during his time in the General Assembly.
Positron moving $65M project from Noblesville to Gary
A troubled central Indiana nuclear medicine company is dropping plans to build a multimillion-dollar facility in Noblesville after reaching a better deal with the city of Gary.
Duke Energy utilities probe continues after hearings
North Carolina utilities regulators said Friday they will continue their investigation into whether they were intentionally misled by executives and directors assembling the country's largest electric company.
Mayor vetoes hotel-worker blacklisting proposal
Indianapolis Mayor Greg Ballard has vetoed a proposed ordinance aimed at hiring practices by local hotels, the mayor's office announced Thursday afternoon.
Domestic partner benefits unwise use of tax dollars
After listening to the testimony during the June 5 City-County Council committee meeting, and speaking with both supporters and opponents of the proposed domestic partner benefits, I noticed a common theme of “this will make Indianapolis more competitive.” This is untrue.
City decides on half block for transit hub
The Mayor’s Office and local mass transit leaders have reached consensus on a site for a $30 million downtown transit center. The preferred location is a city-owned surface parking lot along Washington Street between the City-County Building and Marion County Jail.
Water rates set to rise in Cumberland
Residents in Cumberland plan to voice their outrage at a public hearing Wednesday over a proposed 60-percent water-rate hike. Cumberland Town Manager Jeff Sheridan said GEM Utilities had been operating in the red well before the town purchased it more than a year ago. Now, a study has determined the best way to balance the books is to raise rates. About 550 water customers would be affected by the change, if it's adopted. GEM now charges residents $4.73 per every 1,000 gallons used. The rate would rise to $7.57 under the proposal. By comparison, Citizens Water charges local customers a rate of $3.63 per 1,000 gallons.
Group: OneAmerica garage needs retail, better design
A group of urban policy advocates and bloggers are appealing the city’s approval of a monolithic parking garage, arguing taxpayers footing the bill for the project deserve better.
Browning ordered to testify over Duke Energy CEO’s ouster
Indianapolis real estate developer and Duke Energy Corp. director Michael Browning has been ordered to appear Friday before the North Carolina Utilities Commission, which is investigating the unexpected ouster of the utility’s new CEO just hours after the company merged with Progress Energy Inc.
Company news
Indiana University has received the go-ahead to begin the accreditation process for new schools of public health proposed for its Bloomington and Indianapolis campuses, according to the Associated Press. University officials said the step by the independent Council on Education for Public Health kicks off an expected two-year process to create schools of public health on IU's two largest campuses. The school on the Bloomington campus will focus on rural communities. The Indianapolis school will focus on urban health and health policy, as well as on collaborative work with the IU School of Medicine.
An antipsychotic drug that Eli Lilly and Co. hoped would be an improved replacement for Zyprexa failed in a late-stage study that compared patients taking the drug to those taking a placebo. The drug, known as pomaglumetad methionil, or mGlu 2/3, showed no difference versus a placebo. A control group of patients taking another drug, risperidone, which goes by the brand name Risperdal, did show a difference. Despite the failure, Lilly said it would continue to conduct two other clinical trials of the drug. Lilly is studying pomaglumetad methionil to see whether it can work as an antipsychotic without side effects like weight gain that come with current treatments. Zyprexa, which reached peak annual sales of $5 billion, lost its U.S. and European patent protection last fall.
A chain of dental offices that abruptly closed multiple Indiana locations in December 2010 left patients without care, refunds or records, according to a complaint filed by the Office of the Indiana Attorney General. Attorney General Greg Zoeller has filed a complaint against Allcare Dental & Dentures, which closed offices in Anderson, Avon, Evansville, Fort Wayne, Indianapolis, Mishawaka and Muncie. The complaint alleges multiple licensing violations against company President Robert Bates. The complaint says Allcare failed to reimburse patients who paid upfront for services that weren’t completed; failed to complete dental procedures in progress; didn’t provide dentures that were fabricated; and locked dentists out of their offices, rendering them unable to notify patients or transfer patient records as the law requires. Massachusetts, New Hampshire, North Dakota, Ohio and West Virginia also have taken actions against Bates’ dental licenses for similar violations. Bates has settled or been party to consent agreements with licensing boards of each of those states, according to the AG’s complaint. The Indiana State Board of Dentistry is scheduled to conduct a hearing on the complaint Oct. 5.
After six months of denying coverage for a $350 genetic test for each of three Indiana children, Indianapolis-based WellPoint Inc. reversed itself and will now pay for the tests, according to Bloomberg News. The father of the three children, Matthew Christman, has an inherited heart disease that often strikes without warning. Since December, WellPoint’s Anthem Blue Cross and Blue Shield unit had denied paying for the test, saying it was “experimental” and “not medically necessary,” according to Bloomberg. The test is made by New Jersey-based Bio-Reference Labs Inc.
New IU public health schools reach milestone
Indiana University says an accrediting agency has approved its request to begin the accreditation process for the Schools of Public Health proposed for its Bloomington and Indianapolis campuses.
Chrysler seeks $2.5M utility deposit from Duke Energy Indiana
The automaker is asking the Indiana Utility Regulatory Commission to look into its dispute with Duke Energy—and order the utility to return a deposit it required to keep the power on at Chrysler's Kokomo plants.
Meadows neighborhood developer aims for retail
New housing, health facility could help attract grocer.
Board’s ruling puts Fall Creek home sites back on market
Buyers have quickly snapped up two home sites and the city might sell seven more on a stretch of Broadway Street where The Oaks Academy had hoped to build a soccer field.
IPL pulling plug on renewable-energy effort
Indianapolis Power & Light says beginning next March it will stop offering to buy electricity from customers who generate it from renewable sources—a blow to advocates of wind, solar and other clean forms of energy.
Council mulls axing applications’ prior-conviction box
City-County Councilor Vop Osili thinks the city could level the job-seeking playing field for ex-offenders by eliminating the question of past convictions on job applications.
Roundup: Half Price Books, GFS, Mr. Dan’s, Granite City
Several retailers and restaurants are making moves in Indianapolis. For the latest, make sure to follow @PropertyLines on Twitter.
Company news
Covance Inc. is seeking state and local tax incentives as part of a $150 million expansion that would create 465 jobs at its Greenfield operations, nearly doubling the number of employees there. The proposed expansion would occur over the next four years and include the construction of a new laboratory, the renovation of existing buildings, and the hiring of administrative and laboratory personnel, according to the Daily Reporter in Greenfield. Princeton, N.J.-based Covance, a pharmaceutical research company, acquired Greenfield Labs from Eli Lilly and Co. in October 2008 for $50 million and a 10-year agreement from Lilly to use Covance’s services. At that time, 264 Lilly employees shifted to Covance. The company now employs 565 workers at the site, according to the newspaper. The Hancock County Council is set to hear Covance’s request for incentives July 11. Documents filed with the county show the 465 jobs would add $29 million in salaries with annual pay averaging more than $62,000 per employee, the Daily Reporter said. The company uses the Greenfield Laboratories to conduct early-stage tests of experimental drug molecules, readying them for tests in humans.
Officials from Indiana University Health Arnett broke ground on a facility in West Lafayette last week, according to the Journal and Courier of Lafayette. The new location, housed in a former Kmart store, will add outpatient imaging and expanded laboratory services to IU Health’s existing services in West Lafayette. The $8 million facility also will include an urgent care center with extended hours of operation. Indianapolis-based IU Health operates a full-scale hospital in Lafayette.
Dr. Yang Sun, an assistant professor of ophthalmology at the Glick Eye Institute, received a five-year, $1 million grant from the National Eye Institute to study congenital glaucoma with the hope of discovering new treatments for common forms of glaucoma. “Glaucoma is a leading cause of irreversible blindness in the world, yet the mechanisms of glaucoma development remain poorly understood, and treatments are limited,” Sun said. “I’m hoping to understand the mechanism of inherited congenital glaucoma, in the hopes that this will provide insight and potentially lead to novel treatments for commonly seen forms of glaucoma.”
KRUGMAN: Those who cannot remember the past…
Economists are talking about 1931, the year everything fell apart.