Capital Improvement Board president says initial $10 million payment to the Indiana Pacers is not only reason for the larger
budget. Rather, she insisted it’s largely due to $5 million in renovations slated for Conseco Fieldhouse and other CIB-operated
facilities.
The pitch from Mayor Greg Ballard’s administration to privatize the city’s parking meters is compelling, but the proposal
to sell the meters to Dallas-based Affiliated Computer Services Inc. has the city giving up more in the long run than is immediately
apparent.
Transportation planners are scrambling to find federal funds to help pay for the popular commuter routes from downtown
Indianapolis to Fishers and Carmel.
Roche Diagnostics agreed to pay $100 million to acquire California-based BioImagene Inc., a maker of tissue-based
cancer diagnostic equipment, according to Reuters. Such diagnostic tools are becoming increasingly important to identify the
small groups of patients who are the targets of new cancer drugs aimed at specific genetic profiles. Switzerland-based Roche
also has a pharmaceutical business and is the world’s largest maker of cancer drugs. The company’s U.S. diagnostic
business is headquartered in Indianapolis, though its tissue diagnostics is concentrated in Arizona.
Drug developer Endocyte Inc. has raised more than $100 million in private investment and grant funding,
so it’s now going to test the public markets. The company, headquartered at Purdue University Park in West Lafayette,
filed last week for an initial public offering. Endocyte has a pipeline of drugs in development for the treatment of various
cancers and inflammatory diseases, including six drugs in clinical trials. Endocyte’s IPO is the third announced so
far this year in Indiana. Fort Wayne-based Vera Bradley Inc., a handbag maker, filed plans last month to raise $175 million.
Evansville-based UCI International, a supplier of replacement parts for the light- and heavy-duty vehicle aftermarket, said
in July it plans to raise $200 million. Nationally, the IPO market looks to be improving. So far this year 170 have been filed,
topping the 119 filed in 2009 and the 153 in 2008.
Indiana is getting a $1 million federal grant to improve monitoring of health insurance premiums and develop a website to
help consumers, according to the Associated Press. The grant awarded by the U.S. Department of Health and Human Services is
part of the federal health reform bill. The Indiana Department of Insurance will use the money to hire actuaries to help it
review proposed premium increases. It also will develop a website on which consumers can review rate filings and post comments.
Filings currently are only available in paper form upon request.
Funding for city arts programs is expected to remain at $1 million in 2011, even as the mayor’s budget plan calls for cutting
$22
million in local spending. Funding for the parks department also should remain flat, at $21.1 million.
The state will use the money to review proposed premium increases. It also will look at best practices in other states to
identify areas where it can strengthen health insurance laws and rules.
If Citizens Energy can successfully manage and mitigate over the next two years the city’s lingering legal and contractual
obligations involving the water and sewer utilities Citizens is negotiating to buy, the city can hang onto an extra $25 million
in the deal.
New student-lending rules proposed by the Obama administration could wipe out as much as two-thirds of profits at Carmel-based
ITT Educational Services Inc., some analysts believe.
Today’s and tomorrow’s jobs are increasingly dependent upon more and better education
Two former Eli Lilly and Co. employees launched the firm that promises to attract more clinical trial business to the state.
The Greenfield furniture-maker has an acrimonious history with California-based Furniture by Thurston.
It’s puzzling to us that leaders of the United
Auto Workers Local 23 are against members even casting a vote on the proposed takeover of GM’s Indianapolis metal-stamping plant by Illinois-based J.D.
Norman Industries.
The owner of Illinois-based JD Norman Industries came to Indianapolis to make a personal plea for United Auto Workers Local
23 to allow a vote on his proposed five-year contract.
The Kurt Vonnegut Memorial Library scheduled to open this fall in downtown Indianapolis will be part library and part museum.
JD Norman Industries advertisement tells employees that its proposal to buy the plant would guarantee
their GM transfer rights without having to close the facility.
Indiana Commerce Secretary Mitch Roob said he was completely surprised by local General Motors workers’ refusal to vote on
a proposed contract by JD Norman Industries, a decision that appears to set up the plant for certain closure.
Shares in ITT Educational Services Inc., based in Carmel, declined 13 percent Monday morning, to $56.02 each, after being downgraded
UAW Local 23 bargaining chairman Gregory Clark says members won’t vote on the proposed contract, which would cut base wages from $29 per hour to $15.50.
Former money manager who tried to fake his death in a plane crash may not have enough money to pay restitution required as
part of a plea deal on securities fraud charges.
Fliers circulating at General Motors' Indianapolis plant show that union members will be offered cash payments of $25,000
to $35,000 and an opportunity to keep a foot in the door with GM, if they agree to work for JD Norman Industries.
