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BUCK: Educate Hoosiers about fundamentals of economics

The answer is as old as the Bible: “Train up a child in the way he should go, and when he gets old, he will not depart from it.” Likewise, we are all familiar with the idea that we will reap what we sow, and this is true in our educational system.

State pension board change cuts retiree payouts

Indiana lawmakers grilled the head of the state's pension system Tuesday on a decision to push future retirees into a market-based system that could almost halve the amount they earn from annuity plans.

Grill explosion kills church volunteer

A large gas grill exploded Monday afternoon outside Grace Community Church in Noblesville, killing a 52-year-old man preparing for a cookout. Senior Pastor Dave Rodriguez said the victim, Doug Gripp of Carmel, was a “very beloved volunteer” in the men's ministry. No other injuries were reported.
 

Fire displaces 16 apartment residents

A fire that erupted at Annaberry Park Apartments about 3:30 a.m. Tuesday damaged seven units and displaced at least 16 people. Damage to the two-story building near West 79th Street and Harcourt Road was estimated at $100,000. Indianapolis fire officials are investigating the cause of the blaze.

 

Two arrested after I-465 chase

Indianapolis police chased two men in a Ford Taurus for nearly 30 miles early Tuesday on Interstate 465 before finally capturing them. The chase began about 12:30 on the north side, near 75th Street and Keystone Avenue, and ended on foot on the southwest side, near Mann Road, after the suspects ditched their vehicle. Salmon Frye, 40, and John Davis, 42, were charged with resisting arrest, possession of meth and criminal gang activity.
 

Tech group to trumpet city’s digital marketing niche

The tech community is rallying around an initiative to brand Indianapolis as the “marketing technology capital of the world,” trading on the success of such firms as ExactTarget and Angie’s List.

Kelley School expands executive degree programs

Indiana University’s Kelley School of Business is expanding its certificate programs for executives, combining noncredit webinars, for-credit certificates, and graduate degrees into a single educational program, mostly for corporate clients.

IU rolling out capital campaign to improve Assembly Hall

Indiana University Athletic Director Fred Glass said Monday that he wouldn't replace Assembly Hall if he could do it "for free." IU officials plan to launch a capital campaign later this year to improve the 42-year-old venue.

Marion Superior judge faces 45 judicial misconduct counts

Marion Superior criminal court Judge Kimberly Brown faces an array of accusations, including counts that her actions led to the delayed release of at least nine defendants and that she created “a hostile environment for attorneys, court staff, clerks, and other court officials.”

Butler’s $4M parking project coming to close

The private university is slated to finish improvements soon to 90 acres of land it owns west of the Central Canal that should help alleviate parking problems and give the public better access to the waterway.

SEC charges Noblesville man in $6M investment scheme

John K. Marcum, 49, portrayed himself as a trader and asset manager to raise more than $6 million from at least 37 investors in six states through his company, Guaranty Reserves Trust, the SEC alleges.

Dems, Republicans bring Obamacare fight to Indy

The conservative Heritage Action for American organization brought its anti-Obamacare tour to Indiana’s capitol city on Monday. Meanwhile, supporters of the existing federal health care law held their own event.

Patients get what they pay for

Patients, in spite of what it may feel like, pay only a tiny fraction of the total health care bill directly from their own pockets. It’s no wonder then that prices and good service are hard to find.

People

Indianapolis-based Healthx Inc. has named Martin Samples as its vice president of product management. Samples previously worked for Indianapolis consultancy E-gineering LLC and before that as director of digital media at Zionsville-based Just Marketing International. Samples holds a bachelor’s in Christian education from Anderson University.

Indianapolis-based law firm Brannon Sowers & Cracraft PC has hired Bassam Nader as a patent agent. Nader previously worked for Indianapolis-based Dow AgroSciences LLC as an organic chemist. Nader holds a doctorate in organic synthesis chemistry from Fordham University. He also holds master’s and bachelor’s degrees in chemistry from the American University of Beirut.
 

Company news

Oops. West Lafayette-based Bioanalytical Systems Inc. announced Aug. 21 that it will have to restate financial reports going all the way back to June 2011 because of an accounting error. Bioanalytical, which sells drug development equipment and services to pharmaceutical firms, has been unable to file its latest quarterly filing with the U.S. Securities and Exchange Commission. Because of that failure to file, the NASDAQ stock market has threatened to delist Bioanalytical. The $422,000 error helped make Bioanalytical’s losses applicable to common shareholders during the past 2½ years about 4 percent less than they should have been, according to an unaudited restatement of results issued by the company. The company previously reported losses for common shareholders of $10.1 million during that 2½-year period. The error occurred in May 2011 when Bioanalytical staged a public offering of new shares. Those sales included a purchase warrant, which Bioanalytical should have recorded as a liability, but instead recorded as equity. The warrants could, in some cases, require Bioanalytical to pay cash to investors, the company stated in a press release.

After shelling out $29.4 million last year to settle 15 years' worth of bribery charges, Indianapolis-based drugmaker Eli Lilly and Co. is in the same pickle again. A Chinese newspaper reported last week that Lilly employees in China gave at least $4.9 million in bribes and kickbacks to Chinese doctors to entice them to prescribe Lilly’s medicines, particularly its insulins for diabetes. A Lilly spokeswoman would neither confirm nor deny the allegations to Bloomberg News, but said Lilly is investigating. Bribes and special payments are common practice for selling products in China, according to the 21st Century Business Herald in China, but it is a violation of U.S. law for a U.S.-based corporation to bribe foreign officials. The allegations make Lilly the third major multinational drugmaker accused of bribing doctors in return for prescribing drugs. GlaxoSmithKline Plc, based in London, and Paris-based Sanofi-Aventis SA face similar investigations. In 2012, Lilly agreed to pay the SEC to settle charges that it paid off government officials to obtain government contracts in Brazil, China, Russia and Poland from 1994 to 2009.

Planned Parenthood of Indiana is suing to block a new state law that tightens abortion pill regulations, arguing that the law wrongly targets the organization's clinic in Lafayette, according to the Associated Press. The federal lawsuit filed Aug. 22 claims the law violates equal protection rights because it requires the Planned Parenthood clinic in Lafayette to meet the same standards as surgical abortion clinics but doesn't apply those rules to the offices of doctors who distribute the abortion pill. The Lafayette clinic does not perform surgical abortions. Planned Parenthood officials maintain the only purpose of requiring it to have separate procedure and recovery rooms is to restrict women's access to the abortion pill. The law was approved in April by the Republican-dominated Legislature. Supporters say it's aimed at ensuring the abortion pill is given under proper medical care.
 

Indy man dies at recreation area

A 37-year-old Indianapolis man died Sunday afternoon after swimming at a state recreation area in west-central Indiana. Witnesses say Rafael A. Lopez was in the water at the Lieber State Recreation Area’s Cataract Lake when he began behaving erratically, bobbing up and down in the water near a roped-off area of the beach. Bystanders brought Lopez to shore and began performing CPR on him until medical personnel arrived. He was taken to a Greencastle hospital, where he was pronounced dead. An autopsy was scheduled for Monday.