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EYE ON THE PIE: Too many governments plague state

Have you read the Ke r n a n – S h e p a r d report? Don’t feel guilty, few have. Its more formal name is, “Streamlining Local Government; We’ve got to stop governing like this.” It’s a very strong, readable statement for reforming local government. Unfortunately, it does not get to our root problem: Local governments are creatures trained for obedience by their master, the Indiana General Assembly. Although the report does not say it, there will…

ON THE RECORD:

O N T H E R E C O R D First Merchants Corp. of Muncie announced Sept. 3 that it has agreed to buy Lincoln Bancorp of Plainfield for about $75 million. The acquisition expands First Merchants’ presence in the Indianapolis area from the northern suburbs into other fast-growing suburbs on the west and south sides. Announcement of the deal sparked a 37-percent runup in the value of Lincoln shares. Elanco, the animal-health division of Eli Lilly and Co.,…

An unorthodox design: Massive church construction project in Carmel features unique architecture

The golden dome that sits atop Holy Trinity Greek Orthodox Church under construction in Carmel provides a curious sight for those in central Indiana. But what is even more unusual about the massive structure underneath the dome is a Sixth Century Byzantine design like no other in the world. “There’s no design like this in history, and it’s never been built before,” said San Francisco architect Christ [pronounced Chris] Kamages, designer of the church. His CJK Design Group specializes in…

MotoGP race will give Speedway whole new look

Fans walking into the Indianapolis Motor Speedway for the First MotoGP race there Sept. 14 likely won’t recognize the place. Sponsor ads will hang on the inside walls of the track. There will be a host of companies in the hospitality area–including Yamaha, Kawasaki, Ducati and Repsol–that have never set foot inside the Speedway’s grounds.  The motorcycle-specific nature of the Red Bull Indianapolis GP will permeate every facet of the event and affects all elements of the host city’s planning.

Daniels still wants more from lottery, through privatizing or bond issue

Republican Gov. Mitch Daniels is building his campaign for re-election in part on another attempt to cash in a jackpot on the Hoosier Lottery. This time, he’s hedging his bet. In case leasing the Hoosier Lottery outright to a private operator is politically impossible, Daniels is exploring a major bond issue backed by its future revenue.

Colts give $1M to Riley Hospital

Riley Children's Foundation has received a $1 million gift from Jim Irsay and the Indianapolis Colts, the foundation announced this afternoon. The foundation supports Riley Hospital for Children. The foundation also announced that Lucas Oil Products founder Forrest Lucas, who bought naming rights to the new Colts stadium, has joined the foundation board.    

IRL’s Detroit race shows growth

While the jury is still out on the success of the first unified open-wheel racing season, the organizers of the Detroit Belle Isle Grand Prix last weekend are calling their event a resounding…

Lugar nephew to lead Fundex Games

Todd Lugar, a nephew of U.S. Sen. Richard Lugar, has been named president of Fundex Games Ltd., a Plainfield company that produces toys and games. Lugar, 47, most recently was a director at Indianapolis investment bank Periculum Capital Co. LLC. Prior to the Periculum post, Lugar operated the Lugar family business, Thomas L. Green & […]

Zyprexa class action given green light

Enough evidence of fraud by Eli Lilly and Co. in its marketing of Zyprexa exists to go ahead with a jury trial, a judge in New York has ruled. Plaintiffs in the case claim Lilly urged physicians to prescribe the schizophrenia and bipolar disorder drug for uses not approved by the federal government. Insurance companies, […]

Ball State launches $200M fund-raising campaign

Ball State University is embarking on its largest capital campaign in the Muncie school’s history, seeking to raise $200 million. Officials announced the goal this morning and hope to raise the money by 2011. Roughly $122 million already has been raised. Much of the money will be used to fund 200 new scholarships and more […]

Panic-bar maker plans 40-person expansion

Locally based Ingersoll Rand Security Technologies plans to expand its east side manufacturing operations, creating 40 jobs, the Indiana Economic Development Corp. announced this morning. The 100-year-old company makes panic release bars and electronic security products for exits. It will invest $6.1 million to upgrade equipment at its Tobey Drive plant, which already employs 530. […]

Colts sales staff feels the heat

Pressure is mounting on the Indianapolis Colts as this Sunday’s season opener against the Chicago Bears looms. Yes, there’s pressure to win on the field. But there’s even more pressure to make the…

What ails Jill?

If any governor were vulnerable to a strong challenge in a re-election campaign, it should have been Mitch
Daniels, who has made a lot of Hoosiers mad by pushing daylight saving time, leasing the Indiana Toll Road
and in general…

Beta Steel to be acquired by Russian steel giant

Novolipetsk Steel, one of Russia’s largest steel companies, said yesterday that it has signed a definitive agreement to buy Beta Steel Corp., a Portage-based minimill producer of hot rolled coil, for $400 million. Novolipetsk said it would pair Beta with its August acquisition of John Maneely Co., a Collingswood, N.J., pipe maker that operates a […]

IBJ Movie Night: ‘Lakeview Terrace’

Note: All passes are gone. If I get more, I will repost. I’ll contact winners early this week. Look for news of another IBJ Night at the Movies soon. –LH 

On Sept. 16th, I’ll be hosting…

Medical cost manager on acquisition binge

An Indianapolis health care management business has acquired its third company since January and plans to grow to become the largest company in its industry. Financed by a Connecticut private equity firm, Health Systems International this week announced it had bought Bridgeway Medical LLC, a Montgomery, Ala., company that reviews and audits medical bills for […]

Mall parking gets pricier

The operators of Circle Centre’s parking garages have raised rates in a move designed to ensure spaces are available for shoppers and to bring in additional revenue. The new…

Fishers company loses Marilyn Monroe suit

CMG Worldwide, an intellectual property licensing firm in Fishers, has lost a federal lawsuit relating to the iconic images of the late actress Marilyn Monroe. On Sept. 2, U.S. District Judge Colleen McMahon for the Southern District of New York in Manhattan ruled that heirs of New York photographer Sam Shaw own rights to the […]

Republic Airways to fly for Milwaukee carrier

Republic Airways Holdings will operate a dozen 76-seat Embraer aircraft for Milwaukee-based Midwest Airlines, Midwest announced yesterday. Indianapolis-based Republic will operate the planes until Midwest can move the fleet under its own Federal Aviation Administration operating certificate. Midwest will have the option of leasing the Embraer 170 aircraft from Republic. Republic also said it is […]

IRL title sponsor “on the doorstep”

Despite switching its telecasts from ESPN to Versus next year, Indy Racing League officials remain confident they will sign an eight-figure, multi-year title sponsorship deal by year’s end.

League officials denied rumors that some…