Allison extends agreement with Daimler division
Multi-year deal enables Indianapolis-based company to continue supplying transmissions to Daimler Trucks North America. Terms
of the agreement were not disclosed.
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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.
WellPoint meeting ends abruptly as Bush collapses
Board member William “Bucky” Bush, uncle of former President George W. Bush, appeared OK after a shortened meeting in which
shareholders approved
a “say-on-pay” proposal. Protesters gathered outside WellPoint’s headquarters after the meeting.$25M science and engineering lab OK’d for IUPUI
The project could be a key selling point for the school as it seeks to attract top academic researchers.
Sebelius sees insurers as health reform partners
U.S. Health and Human Services Secretary Kathleen Sebelius said having insurers as "good partners" is part of health
care reform, but she made no promises Friday to tone down criticism of an industry the Obama administration has attacked repeatedly.Duke Energy downsizes smart-grid plans
Duke Energy has dramatically scaled back its proposed “smart” electric grid rollout, five months after regulators rejected
an initial, $445 million plan.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.STYLE: Upcoming book explores retail icon L.S. Ayres
I wish I hadn’t missed the days when Nordstrom’s Manhattan outpost would’ve been a gleaming tower of polished consumerism,
complete with elevator operators and too many shoe salesmen.Resurgent Finish Line eyes plan for cash hoard
Finish Line Inc. is working to deploy the money it has built up through cost-cutting. The 684-store
chain plans to reinvest in its core business, return cash to shareholders through higher dividends and share repurchases,
and diversify its business.Officials: Despite expansion, convention center needs work
Seven months before the $275 million expansion of the Indiana Convention Center is complete, convention planners and local
convention and tourism officials are calling for an upgrade to the existing Convention Center space.MAURER: Pack your bags … it’s time for camp
Mickey's Camp presents a chance to learn new skills or polish old ones, including backgammon, canoeing, badminton, darts,
bass fishing, fly fishing, golf, self-defense, magic, jewelry making, knitting, arts and crafts, and CPR.Dean of IU’s Indianapolis law school hopes to end campus confusion
Just about everyone thinks the Indianapolis law school is a branch of the one in Bloomington. It isn't, and Gary Roberts
says
confusion reigns as a result.Indianapolis law firms raising rates again
Recession's over. Time for law firms to get cracking on raising rates again. As was the case before the recession, the
increases are outstripping inflation.Study: Quality, costs better at big practices
As physician mergers increase in Indianapolis, a new study has determined that quality at large, multispecialty practices is at
least 5 percent higher and costs are 3.6 percent lower than at small group practices.CIB, Pacers dancing toward a new Fieldhouse lease deal
Newly released economic impact study gives city officials hammer they need to pound out a deal, and hopefully win some taxpayers'
support.CIB agrees to help Black Expo, but not with grant
Capital Improvement Board votes not to restore IBE’s annual $150,000 grant, but agrees to provide the organization
with in-kind services equaling the amount.Report: WellPoint, Aetna may need relief from cost mandate
The U.S. health overhaul’s mandate that insurers spend 80 percent of premiums on medical care may
need to be loosened
to keep companies from quitting the market for people who buy coverage on their own, state regulators said.WellPoint, others may need relief from law’s spending mandate
The health law passed by Congress in March will force insurers like WellPoint to give rebates to customers next year if the
companies don’t meet the medical-spending minimums.Simon shares surge despite failed General Growth deal
Simon’s rise suggested investors believe the company will be just fine without General Growth Properties Inc., the Chicago-based
rival it had been pursuing for months.