Lucas: Stadium worth the cost
There have been a fair number of complaints about the new home of the Indianapolis Colts since its opening in August, from the temperature inside the stadium to traffic flow in concourses and…
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St. Francis would cancel Anthem contract early
The St. Francis hospital system threatened to terminate its contract with Anthem Blue Cross and Blue Shield of Indiana on Nov. 2-well before the contract expires next September, saying Anthem has been slow at paying claims and has not granted St. Francis terms similar to other area hospitals. If no deal is reached before Nov. […]
More ISO ‘Guys and Dolls’ thoughts
At some point, I will write about something besides the Indianapolis Symphony Orchestra’s presentation of “Guys and Dolls in Concert” last weekend.
But that point isn’t here yet.
I blogged on one aspect of the show on Saturday. (Find it here, along…
Insurer settles state lawsuit for $16.5M
A legal malpractice insurance carrier has agreed to pay $16.5 million to Indiana ‘s insurance department, settling a federal lawsuit stemming from the multi-million-dollar collapse of a health insurance trust. Alabama-based ProNational Insurance Co. agreed to make the payment to settle a bad-faith and breach-of-contract lawsuit filed by the department four months ago. ProNational was […]
More small businesses allowed to jump in pools: Law lets employers join together for cheaper rates
Small businesses in Indiana stung by rising health care costs now can band together to broker better deals from insurance providers. The rule from the Indiana Department of Insurance took effect in late August and is the final piece of a 2007 health care expansion state lawmakers financed with a 44-cent increase in the cigarette tax. The pooling program is open to businesses with two to 50 employees and is meant to give them strength in numbers so, in essence,…
Recession takes its toll on charities
Area not-for-profits are beginning to feel the sting of the year-old credit crunch, which has escalated into a full-blown
financial crisis that’s battered investors and likely pushed the nation into recession.Clearing up cloudy cases: Growing list of insurers, attorneys turn to television reporter Nicholson to shed light on weather events
If someone slips and falls in a parking lot, was it the fault of the property owner because he didn’t plow, or was the snow not deep enough in that area to prove a duty to plow? If a child darts in front of a car at dusk, were the conditions at that moment in the day enough for the driver to be able to see the child? Should the driver legally have had his or her headlights on, and…
SPORTS: Crean and Hoosiers are a story like no other
Last week, I attended a press conference that pumped the upcoming Hartford Hall of Fame Showcase at Lucas Oil Stadium Dec. 6. The Showcase will feature Indiana University versus Gonzaga University in one game, the University of Notre Dame against Ohio State University in the other. Name wise, it’s a stellar lineup befitting the occasion: the first basketball games to take place in LOS. It’s safe to predict they will be the first of many. At the very least, an…
Lilly buys ImClone as part of strategy to capitalize on cancer-drug market
Eli Lilly and Co. has written a $6.5 billion IOU to acquire the cancer drugs of ImClone Systems Inc. Cancer drugs are now
the best-selling class of drugs in the world and one of the fastest growing.State jobless funds dwindle as economy sours
Rising unemployment rates are making it harder for more states, including Indiana, to pay jobless benefits, according to Stateline.org. The non-partisan organization, which reports on trends in state policy, says unemployment insurance trust funds are in danger of insolvency in California, Michigan, Missouri, New York, Ohio, South Carolina and Wisconsin. It cites a study by […]
Lilly settles Zyprexa claims for $62M
Eli Lilly and Co. promised to dole out $62 million to 32 states to settle claims that the Indianapolis drugmaker improperly marketed its bestselling drug, the antipsychotic Zyprexa. Indiana will get $1.6 million of the total, according to Attorney General Steve Carter. Attorneys general from the 32 states had claimed that Lilly illegally promoted Zyprexa […]
A&E: Altered ‘State’ in Muncie and cyberspace
An Alexander Calder mobile hangs above. Bronzes by Henry Moore and William de Kooning stand handsomely on the ground. The walls feature works on paper by Picasso, Pollock, Rembrandt, Miro and more. Ball State University Museum of Art’s collection is well worth lingering over. But I’m doing a lightening round because the museum is closing at 4:30 and I’ve spend the better part of the afternoon immersed in another Ball State Museum of Art. The one online. In Second Life….
Arcadia banking on DailyMed: Company hopes product sales can help it escape debt, lift stock
When Arcadia Resources Inc. moved from Southfield, Mich., to Indianapolis last fall, the Indiana Economic Development Corp. crowed with pride. In exchange for incentives worth more than $6 million, the state had landed the headquarters of a publicly traded life sciences firm with more than 5,000 employees. Even better, the company was ready to launch an innovative new product that promises to improve home health care while simultaneously reducing its cost. A year has passed, but investors still aren’t as…
Creativity pays off for firms: Business owners delay projects, seek alternate funding sources
Large Wall Street firms with a taste for bad debt aren’t the only institutions weathering a financial storm these days. In a classic case of trickle-down bad news, small businesses are suffering as well. But instead of facing a maelstrom, firms seeking expansion funds and entrepreneurs looking for startup cash are enduring a drought. Access to capital has dried up as spooked banks relentlessly tighten their loan requirements. That translates into greater scrutiny of business plans, bigger demands for collateral…
Filing in legal battle over telecom company hints at criminal probe of officers
Former insiders of One Call Communications appear to be targets of a Justice Department criminal inquiry, according to a filing by the defunct company’s court-appointed receiver. Pittsburgh-based Meridian Group said it was served a subpoena Sept. 19 from the U.S. Attorney for the Western District of Pennsylvania to testify before a grand jury on Oct. 21 on matters involving One Call.
Planned giving: Here’s what to consider: Many charitable techniques can help donors maximize their gifts, tax savings
If you have continuously donated money and time to specific organizations, or if you want to save some money on taxes, or maybe a little of both, planned giving might be a way to continue both of those aims. However, there are a few things to consider, such as how to set up the planned giving, what the money can or can’t be used for, who can speak for your interests after you die, and obviously how much money will…
VOICES FROM THE INDUSTRY: Auction-rate securities create nightmare for investors
When a littleknown corner of the financial world hit a wall in February, auction-rate securities became an investor’s worst nightmare. Auction-rate securities are long-term corporate or municipal bonds with interest rates that reset at periodic auctions. For years, the market for auction-rate securi ties operated smoothly. From 1984 through 2006, only 13 auction failures were recorded. Then, in February 2008, in the midst of a credit crunch, demand for auction-rate securities dried up, causing auctions to fail. Wall Street investment…
Hitting the BIG TIME: ‘Big Joe’ Clark building national rep as investment commentator
The Anderson money manager known as “Big Joe” got his start as an independent insurance agent in Lafayette. He had been on the job just two weeks before Black Monday struck Wall Street in October 1987. The market shed more than 22 percent of its value, the largest one-day decline in U.S. history. With no clients and no money, the 20-year-old temporarily left the insurance industry and landed a job at AT&T’s old Western Electric division, helping rewire Ball State…
Review: Bill Cosby at IU
Singers of a certain age often coast on nostalgia. The primary pleasure of attending one of their concerts isn’t so much the sound of their voice or the wit of their banter. It’s being able to say you saw them….
Accuride shake-up claims CEO, 392 workers
Sluggish sales of new heavy trucks have prompted parts supplier Accuride Corp. to switch out its president and CEO and lay off 392 employees, the Evansville company announced this morning. Directors have accepted the tendered resignation of John R. Murphy and named independent director William M. Lasky as interim president and CEO. Lasky is chairman […]