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IU’s new business incubator

IU is breaking ground today on a $10 million life-sciences and Internet-technology incubator in Bloomington. The new facility will be 40,000 square feet and is scheduled for…

Indy’s loss is Arizona’s gain

USA Basketball today announced it will move its headquarters from Colorado Springs to Glendale, Ariz. Indianapolis and Louisville were the other front runners. Indianapolis officials announced earlier this year they were out of…

YMCA, Hendricks hospital to build complex

Hendricks Regional Health and YMCA of Greater Indianapolis announced a partnership today to build an integrated fitness center and medical office building – something they say will be unique in Indiana. The 100,000-square-foot center, named Hendricks Regional Health YMCA, will sit on nearly 29 acres along U.S. 36 in Avon. It will provide medical, wellness, […]

Remy swings to profit, sees sales increase

Auto parts maker Remy International Inc. said yesterday that it turned in a $4.3 million profit in the third quarter, a stark contrast to the $39.3 million loss of a year earlier. Sales for the Pendleton company increased 1.5 percent to $279.4 million. A decline in sales to General Motors Corp. was offset by sales […]

UPDATE: Cuban says SEC claims are false

Mark Cuban, the Indiana University alumnus who owns the Dallas Mavericks, said this afternoon that accusations of insider trading leveled against him earlier in the day by the U.S. Securities and Exchange Commission are false. Cuban said in a statement posted on his Web site, www.blogmaverick.com., that he will contest the allegations, calling them “a […]

New art windows on Penn

Every once in a while, I’ll turn the blog over to reporter Kathleen McLaughlin, who is now covering the arts business beat for IBJ. Welcome her aboard and look for her writing here and in the print edition of IBJ.

Take…

Symphony reports $293,000 shortfall

In a sign of financial challenges ahead, the Indianapolis Symphony Orchestra yesterday reported a 1-percent budget shortfall for the fiscal year ended Aug. 31. Expenses exceeded revenue by $293,000, or 1 percent of the $26.8 million budget. CEO Simon Crookall said income from ticket sales and contributions did not keep pace with rising expenses for […]

Miles appointed to City Securities board

City Securities Corp. has named Mark Miles to its board. Miles, 55, is CEO of Central Indiana Corporate Partnership, a not-for-profit that advocates economic-development strategies on behalf of corporate executives and university presidents. He also chairs the 2012 Super Bowl Host Committee. City Securities is a securities brokerage headquartered in Indianapolis.

Honda plant to turn out natural gas Civics

Honda Manufacturing of Indiana said today that its new assembly plant in Greensburg will make a small number of Civic sedans that operate on natural gas. The plant, which opened a month ago and staged a dedication this morning, is projected to produce 800 conventional gas-burning Civics a day. Assembly of the “GX” natural gas […]

Bail out Detroit?

Two schools of thought are emerging over the proposed bailout of General Motors, Ford and Chrysler.

One is that the auto industry is too big to fail. Itâ??s not just because of the manufacturing operations
and all the suppliers…

UPDATE: Getrag meeting with state, local officials

Getrag Group is blaming a deal gone bad with Chrysler LLC for bankrupting a subsidiary the German transmission manufacturer formed to build and manage a $530 million plant in Tipton. Officials in Getrag’s U.S. headquarters in Sterling Heights, Mich., filed for bankruptcy protection in Detroit this morning for its Getrag Transmission Manufacturing LLC unit, stating […]

Dellen car, motorcycle dealerships to continue

Car and motorcycle dealerships owned by Russell J. Dellen before his death will continue under family ownership, according to one of his sons, Nick Dellen. Russ Dellen, who died of a heart attack on Nov. 8 at age 56, owned two car dealerships in Greenfield – one handling Buick, Chevrolet, GMC and Pontiac brands, and […]

SEC accuses Cuban of insider trading

Mark Cuban, the Indiana University alumnus who owns the Dallas Mavericks, has been accused of insider trading by the U.S. Securities and Exchange Commission. The charge involved a 2004 trade of 600,000 shares of Mamma.com Inc., an Internet search engine company that now is part of Canada-based Copernic Inc., according to a statement on the […]

Kravitz eats words, treks to Kokomo

Indianapolis Star sports columnist Bob Kravitz is making good on his promise to walk to Kokomo if Indiana Pacers guard Jamal Tinsley was still on the roster come the opening of the NBA…

Tipton fiasco spurs Getrag unit’s bankruptcy

Getrag Group is blaming a deal gone bad with Chrysler LLC for bankrupting a subsidiary the German transmission manufacturer formed to build and manage a $530 million plant in Tipton. Officials in Getrag’s U.S. headquarters in Sterling Heights, Mich., filed for bankruptcy protection in Detroit this morning for its Getrag Transmission Manufacturing LLC unit, stating […]

Lilly licenses new Cialis use to Maryland firm

Eli Lilly and Co. has licensed the U.S. rights to commercialize its drug Cialis to treat high blood pressure in the pulmonary artery to United Therapeutics Corp., a Maryland-based biotech drug firm. Indianapolis-based Lilly will buy $150 million of United Therapeutics’ common stock, but also receive a $150 million upfront payment from United Therapeutics, according […]

You-review-it Monday

Before I get to the regular portion of the Monday blog, I’d like to take a moment to note with sadness the death of Matthew Oskay, director of the Warren Performing Arts Center. Matt, 30, was one of our town’s four arts…

Venture-backed Quadraspec lays off workers

Quadraspec Inc., a West Lafayette life sciences firm backed by venture capital investors, has laid off about a dozen workers, according to The Journal and Courier of Lafayette. Founder and CEO Chad Barden said financial strains on Wall Street are forcing venture-backed companies like Quadraspec to become lean and profitable. Quadraspec, started in 2004 with […]

St. Vincent donates to Marian athletics project

Marian College will name its new $6.8 million athletic facility St. Vincent Health Field after the Catholic hospital system pledged money to allow the start of a second phase of building. St. Vincent’s gift amounted to “six figures,” Marian spokeswoman Andrea Fagan said. She said St. Vincent did not want to reveal the exact amount. […]