Bank seeks to foreclose on local apartment complex
The owners of Arbor Green Apartments on the city’s northeast side owe nearly $15.9 million on a 2008 loan, according to court documents.
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Musician’s murderer gets 65 years
A man convicted of murdering an Indianapolis musician was sentenced Thursday to 65 years in prison. Allen Parker, 25, strangled John Butsch in April 2011 while Butsch, 59, slept in his Woodruff Place home. Detectives think Parker killed Butsch in revenge for being evicted.
Former Indiana chief justice joins IU institute
The university appointed Randall Shepard to a two-year term as its first executive-in-residence of its Public Policy Institute within the School of Public and Environmental Affairs. Shepard stepped down as chief justice in March.
Police probe out-of-town cop’s death
Indianapolis police are investigating an apparent homicide of a Massachusetts police officer near downtown’s Central Library early Friday morning. Sean Cooney, 27, was found in an alley near the Sylvania Apartments about 2 a.m., suffering from head trauma. He died a short time later at Wishard Hospital. Cooney was a part-time police officer with the Rutland, Mass., police department. He was visiting Indianapolis to make arrangements for a close friend who recently died.
Man pulled from White River drowns
Jason Purvis, 35, died Thursday night at IU Health Methodist Hospital after being pulled from the White River in downtown Indianapolis earlier in the day. Witnesses said Purvis attempted to swim across the river near the Oliver Street Bridge on Thursday afternoon but failed to make it. A diver recovered the man after he spent about 30 minutes under the water. He was rushed to the hospital in critical condition and pronounced dead about 9:30 p.m.
Police car maker not giving up on Indiana plans
A company with plans for building high-tech police cars at an eastern Indiana factory has added a venture capitalist on board as it tries to raise millions of dollars to get off the ground.
E&A buttered by $125M sale of Udi’s to Smart Balance
Indianapolis investment firm E&A Industries is cashing out of its majority stake in Udi’s Healthy Foods LLC by selling the Denver-based food company to margarine maker Smart Balance Inc. for $125 million.
Emmis hearing on shareholder plan continued
A federal judge wants Emmis to submit an amended proxy statement reflecting changes that would result from the proposal. The hearing will occur within 30 days of receiving the proxy.
Simon Property reaches $2 billion credit arrangement
Indianapolis-based Simon Property Group Inc., the country's largest shopping mall operator, has a new $2 billion unsecured revolving line of credit.
Emmis hearing on shareholder plan continued
A federal judge said that Emmis needs to submit an amended proxy statement reflecting company changes that would result from the proposal before a hearing can be held.
U.S. unemployment rate rises on dismal jobs report
U.S. employers created only 69,000 jobs in May, the fewest in a year, and the unemployment rate rose to 8.2 percent, up from 8.1 percent in April, the first increase in 11 months.
Really Cool Foods plant on auction block
Really Cool Foods closed the 78,000-square-foot facility in November and is searching for a buyer to help repay creditors. One potential suitor is Sugar Creek Packing Co. of Ohio, which has offered $13 million, according to a bankruptcy filing.
NFP of NOTE: Boys & Girls Clubs of Indianapolis
Boys & Girls Clubs of Indianapolis believes that every young person deserves to live a life filled with hope and opportunity.
Former state worker sentenced in welfare scam
A former Indiana welfare worker has been sentenced to more than three years in prison for creating bogus debit cards he and a co-worker used to steal $185,000 from needy residents' state benefit accounts.
15 percent of Indiana listed in moderate drought
Abnormally dry conditions cover half of Indiana, with 15 percent of the state officially in a moderate drought, and weather experts don't believe the rain that's expected the next few days will bring significant relief.
Developer ups retail ambitions for 86th-and-Keystone site
A Wisconsin developer has beefed up plans for the southwest corner of East 86th Street and Keystone Avenue across from The Fashion Mall at Keystone.
SPECIAL REPORT: Stock-based pay builds wealth for Indiana execs
IBJ's annual review of proxy statements for Indiana public companies found senior executives' median compensation rose 14 percent in 2011. But that analysis uses the fair market value of stock and options awards on the date they were granted. If a company's stock price surges, executives can make out far better. (with searchable database)
RACE: Desecrated diagonals put us at a crossroads
Both Indianapolis and Washington, D.C., were designed as capital cities—with a certain formality, heroic views, intersecting axis, monumental architecture and sacred places.
Taxes from big incomes leaving Marion County
Despite the location of Simon Property Group’s tax-subsidized headquarters in Indianapolis, Marion County income tax coffers will see little impact from David Simon’s compensation.