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Farmers plan biggest crops since 1984, led by corn

U.S. farmers will plant the most acres in a generation this year, led by the biggest corn crop since World War II, taking advantage of the highest agricultural prices in at least four decades.

Marion County judge blocks right-to-work fines

A Marion County judge ordered Indiana House Republicans to return fines levied against House Democrats in the right-to-work battle last year and blocked $1,000-a-day fines levied this year.

Graduation rates rise in Marion County, state

Nearly 200 more students graduated from Marion County’s public high schools last year than in the previous year, pushing the county’s graduation rate up a notch, to 81.7 percent.

Construction

-Capitol Construction has completed a 14,700-square-foot event space for Serendipity and Hendricks County Convention & Visitors Bureau at 2499 Futura Parkway, Plainfield.

-Capitol Construction has completed a 1,700-square-foot office build-out for Platinum Financial at 11350 N. Meridian St., Carmel.

People

–Ryan McCormick has joined EMH&T, a site development and public works engineering firm, as business development manager.

–Kiamesha-Sylvia Colom has joined the law firm Benesch as an associate in the firm’s real estate and environmental practice group.

Residential

The average rate for 30-year mortgages fell from 4.25 percent to 4.12 percent for the week ended Feb. 1, according to Bankrate.com. The rate for 15-year mortgages fell from 3.45 percent to 3.34 percent.

Leasing/leasing contracts

-Hanzo Logistics Inc. leased 106,875 square feet of industrial space at 595 S. Perry Road, Plainfield. The tenant was represented by Steve Beals of Lee & Associates. The landlord, Prologis Leasing-Indianapolis, was represented by Luke Wessel of Cassidy Turley.

-Thyssenkrupp Materials LLC renewed its lease for 38,400 square feet of industrial space at 8119-8137 N. Zionsville Road. The tenant was represented by Luke Wessel of Cassidy Turley. The landlord, Dugan Financing LLC c/o Duke Realty Corp., was represented by Duke’s Glen Davis.

-The office of U.S. Senator Dan Coats renewed and expanded its lease to 4,144 square feet of office space at 10 W. Market St. The tenant was represented by Jenna Barnett of Newmark Knight Frank Halakar. The landlord, MT Acquisitions LLC, was represented by Dave Moore, Andrew Martin, Darrin Boyd and Bennett Williams of Cassidy Turley.

-Radio Shack renewed its lease for 2,800 square feet of retail space in River Ridge Plaza, 2210 S. Scatterfield Road, Anderson. The landlord was represented by Sandor Development. The tenant represented itself.

-Machine Repair LLC renewed its lease for 2,700 square feet at 2461 Directors Row in Park Fletcher Business Center. The landlord, American National Insurance Co., was represented by Don Wahle of Harshman Property Services. The tenant represented itself.
 
-Impulse Design and Engineering LLC renewed its lease for 2,250 square feet at 2445 Directors Row in Park Fletcher Business Center. The landlord, American National Insurance Co., was represented by Don Wahle of Harshman Property Services. The tenant represented itself.

-Goldwing Touring Association Inc. renewed its lease for 2,027 square feet at 2415 Directors Row in Park Fletcher Business Center. The landlord, American National Insurance Co., was represented by Don Wahle of Harshman Property Services. The tenant represented itself.

-Apprisen Financial Advocates leased 1,888 square feet at 6345 South St. The landlord, Banta Trails LLC, was represented by Matt Jackson and Joe Lonnemann of Ambrose Property Group. The tenant represented itself.

-DWC Restoration renewed and expanded its lease to 1,800 square feet in Greenwood Oaks Business Centre, 500 S. Polk St., Greenwood. The tenant and landlord, Greenwood Oaks Investments LLC, were represented by Cathy Richards of Lee & Associates.

-First Call Temporary Services Inc. leased 1,800 square feet of office space at 8847 Commerce Park Place. The tenant was represented by Catherine Esselman of Penn Real Estate. The landlord, Dhillon Commerce Park LLC, was represented by Darrin Boyd and Dave Moore of Cassidy Turley.

-Century 21 Scheetz leased 1,600 square feet at 643 Massachusetts Ave. The landlord, FEC Investments, was represented by Jodi Milto of Midland Atlantic. The tenant represented itself.

-Cash for Gold leased 1,400 square feet at Greenwood Springs, 1279 Emerson Ave., Greenwood. The landlord, Regency Centers, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

-French Nail Salon leased 1,200 square feet of retail space at Decatur Depot, 5021 S. Kentucky Ave.  The landlord, KLC Realty LLC, was represented by Greg Smith and Joe Tarpey of Colliers International. The tenant represented itself.

-UA Nail renewed its lease for 1,120 square feet of retail space in Eagledale Plaza, 2802 Lafayette Road, Suite 3. The landlord was represented by Sandor Development. The tenant represented itself.

-Phone Recycling Centers of America leased 1,080 square feet at Castleton Market Place, 8413 Castleton Corner Drive. The tenant was represented by Michael Cranfill of Sitehawk Retail Real Estate. The landlord, Maquina Realty Inc, was represented by Patrick Forkin of MidAmerica Real Estate Group.

Sales/acquisitions

-PSI Management LLC bought a 4,500-square-foot office building at 426 E. New York St. The price wasn’t disclosed. The buyer was represented by Rich Forslund of Summit Realty Group. The seller, Hensley Legal Group PC, was represented by Matt Langfeldt of Summit Realty Group.

-TLC Realty LLC bought 54 acres at the southeast corner of State Roads 37 and 32 in Noblesville. The price was not disclosed. The buyer was represented by Tom English of Sitehawk Retail Real Estate. The seller, Dearborn Street Holdings LLC Series II Hometown, was represented by Bill French and Bob Getts of Cassidy Turley.

-Gator Development LLC bought a 24,000-square-foot industrial property at 3315-3353 W. 96th St. The purchase price was not disclosed. The buyer was represented by Kurt Meyer of Baseline Commercial. The seller, Duke Realty Corp., was represented by Jeff Castell and Angie Wethington of Cassidy Turley.

People

Dr. Jeffrey Kyrouac, an internist, has joined the St. Vincent Medical Group in Indianapolis. Kyrouac received his bachelor’s degree from the University of Illinois-Urbana and his medical degree from Southern Illinois University School of Medicine. Before joining St. Vincent, he was an instructor and director of the University of Illinois Residency Outpatient Clinic.

Indianapolis-based MJ Insurance has expanded its local employee benefits team by hiring Kimberly Balling as a client communication specialist. Balling most recently served as senior client services and communication specialist with McGohan Brabender, an employee benefits provider in Dayton, Ohio.

Company news

Eli Lilly and Co. will freeze base pay for most of its 38,000 workers this year, as the October 2011 patent expiration on its former best-seller Zyprexa has hammered finances. Lilly already eliminated 5,500 jobs in preparation for the generic competition to Zyprexa, an antipsychotic pill. But the pay freeze is the company’s next move to try to weather the storm caused by a string of patent expirations on five of its best-selling drugs, including the looming loss of its new best-seller, the antidepressant Cymbalta, at the end of 2013. The pay freeze also applies to top executives, Lilly disclosed in its preliminary proxy statement, filed Feb. 3. Overall compensation for Lilly’s top five executives fell slightly in 2011, the company disclosed. CEO John Lechleiter earned a salary of $1.5 million, unchanged from 2010, and total compensation of $16.4 million, down slightly from the previous year. Lechleiter has resisted buying another large company to mask Lilly’s looming sales loss, instead betting on the company’s research team to deliver new blockbusters. Also, Lilly has made several smaller acquisitions, and is currently rumored to be vying with five other rivals to acquire the Turkish drugmaker Mustafa Nevzat Ilac Sanayii.

Indianapolis-based Home Health Depot Inc. has acquired a majority stake in Iowa-based Advanced Rehab Technologies LLC, a provider of rehabilitation equipment. Financial terms of the deal were not disclosed. The three owners of the company will continue to manage it under Home Health Depot’s oversight. Advanced Rehab was founded 10 years ago. Home Health Depot had 2010 revenue of $13.8 million, according to IBJ research, ranking it the fifth-fastest-growing private company in the Indianapolis area. Home Health Depot also ranked last year as No. 736 on Inc. magazine’s list of the nation’s fastest growing companies.

Warsaw-based Symmetry Medical Inc.’s former CEO will return $450,000 in pay and stock proceeds to resolve U.S. Securities and Exchange Commission claims that he profited from accounting fraud by a United Kingdom unit, according to Bloomberg News. Brian S. Moore received the compensation based on financial results that were inflated by a scheme in which employees inflated financial results in 2005 and 2006 at Symmetry’s Thornton Precision Components Ltd. subsidiary, the SEC said in a complaint filed Jan. 30 in federal court in South Bend. The agency also settled claims against Symmetry Chief Financial Officer Fred L. Hite, who will pay $210,000. “It is important to emphasize that the SEC did not accuse Mr. Moore of any wrongdoing,” Russell G. Ryan, an attorney for Moore at King & Spaulding LLP, said in an e-mail statement. “He is glad to have put the matter behind him.”

Indianapolis-based Dow AgroSciences LLC reported record fourth quarter and annual revenue on strong sales of new products and above-average growing seasons. Fourth-quarter revenue grew 5 percent, to more than $1.3 billion, compared with the same period in 2010. For the entire year, sales increased to $5.7 billion. Earnings before interest, taxes, depreciation and amortization were $145 million in the quarter ended Dec. 31, a fourth-quarter record and double the $72 million reported for the 2010 period. The company, a unit of Midland, Mich.-based Dow Chemical Co., reported sales and volume gains in all geographic areas, led by Latin America.

Stage-collapse report due this week

Indiana regulators plan to release a report Wednesday on their investigation into August’s stage-collapse disaster at the Indiana State Fair. The state Department of Labor said Monday that the Indiana Occupational Safety and Health Administration’s findings will be released during a Wednesday morning briefing at the Statehouse. Seven people died and 58 were injured after a stage collapsed Aug. 13 at the state fairgrounds. Two out-of-state companies hired by the state are also reviewing the collapse and the state’s emergency response.

Man fatally shot on west side

Indianapolis police are investigating a shooting death on the city’s west side. The unidentified victim, a 20-year-old male, was shot about 10:30 p.m. in a house on Livingston Avenue. It was the first reported homicide in Indianapolis since Jan. 27.

Roche sales rise 4 percent in 2011

Roche Diagnostics Corp.’s North American business, which is headquartered in Indianapolis, posted a 4-percent boost in sales last year on the strength of its fluid analyzer business unit, even though its diabetes sales fell.