Simon family donates $40M to Riley
A $40 million gift from the Simon family to Riley Hospital for Children will help finish a new 10-story in-patient building and launch a fund-raising campaign, Riley Children's Foundation announced this morning.
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Medco likes Daniels, ‘entrepreneurial spirit’
Gov. Mitch Daniels’ personal involvement and the “entrepreneurial spirit” of the Indiana Economic Development Corp. were among the reasons Medco Health Solutions announced Nov. 12 that it had chosen the Indianapolis area over Louisville for the location of a $150 million pharmaceutical distribution center. The sentiment was expressed by Medco President Kenneth Klepper in The […]
Tower’s history revealed
Contractors uncovered a bit of history this week as they continued renovation work at One Indiana Square, the 36-story office tower at Ohio and Pennsylvania streets. The work revealed parts…
Panel favors steep homeowner tax cut
A state legislative commission studying Indiana’s tax woes said today that it thinks the government should trim property taxes 50 percent for most homeowners. The bipartisan commission also wants to reduce taxes by 25 percent for other residential property like apartments and second homes. It would balance these cuts with increases in local option income […]
Concert venue slated for downtown project
A huge mixed-use project proposed for just south of downtown would feature a 3,400-seat theater designed to attract 150 concerts, plays and events per year. Lead developer Ryan Zickler says the venue could draw 250,000 new visitors to downtown per year. His development team is finalizing plans for the overall $480-million project, which also calls […]
Conseco Insurance switches presidents
Conseco Insurance Group announced yesterday that its president, Michael J. Dubes, has retired and been replaced by Dan R. Bardin. Dubes, age 65, led the unit of Carmel-based Conseco Inc. since June 2005. Bardin most recently was an industry consultant. He also has been chief executive of insurance at Prudential Corp., Asia, and general manager […]
Solving the tax debate
Gov. Mitch Daniels has proposed capping residential property taxes at 1 percent of a homeâ??s assessed value,
rental properties at 2 percent and businesses at 3 percent.
Now state Sen. Luke Kenley says the bipartisan commission on taxes he heads will…
WISH-TV launches YouTube channel
WISH-TV Channel 8 today launched a dedicated channel on the growing Internet site YouTube.com., which is owned by Google Inc. and has become the Web’s biggest video search engine. WISH’s parent company, Rhode Island-based Lin TV Corp., made the same move for its stations in Grand Rapids, Mich.; New Haven, Conn.; and Providence, R.I. Lin […]
S&P upgrades Indianapolis credit outlook
Standard & Poor’s Ratings Service has increased its outlook on Indianapolis’ general obligation bonds to “AAA stable” from “AAA negative.” The rating, which anticipates the city’s ability to repay its debt as far as two years into the future, is the highest issued by S&P. Prompting the upgrade was the city’s decision to increase income […]
Chrysler name stripped from New Castle school
New Castle‘s school board has voted 3-2 to drop Chrysler from the name of its high school. Beginning in 2011, the school will simply be called New Castle High School, according to The Star Press of Muncie. The school was named Walter P. Chrysler Memorial High School when built in 1955, but sentiment to change […]
CTS to lay off 103 workers in reorganization
CTS Corp., which designs and manufactures electrical components and sensors, said yesterday it will eliminate 103 positions this year to improve efficiency. The Elkhart company operates globally and didn’t specify where the cuts would be made. The realignment will cost $2.8 million, but will save a similar amount on an annual basis after the cost […]
CIB President Glass to resign
Capital Improvement Board President Fred Glass plans to announce his resignation at a 4 p.m. CIB meeting today. Glass’ resignation will be effective Dec. 31. Glass was appointed to the CIB by Democratic Mayor Bart Peterson in January 2000, and was elected president during his first meeting. “I always said the mayor’s last day would […]
UPDATE: Medco jobs hit ‘sweet spot’ for economy
Medco Health Solutions’ plan to build a large pharmacy distribution center in the Indianapolis area hits the state’s “sweet spot” for economic development, local and state officials said today. By employing pharmacists to oversee prescriptions, engineers and computer geeks to design and run robotic equipment to dump pills into bottles, and logistics workers to route […]
Gifford to head Indy Partnership
Ron Gifford, a partner at the Indianapolis law firm Baker & Daniels LLP, has been chosen as president and CEO of Indy Partnership, the organization that markets 10 counties in the region to businesses looking to expand. The Central Indiana Corporate Partnership appointed Gifford to succeed Gordon Hendry, who announced in September he would be […]
Catching up: Simon honored
The Simon Property Group Headquarters took top honors at Keep Indianapolis Beautiful’s A Monumental Affair awards last week. The 30-year-old contest honors the city’s best architecture, development and construction. Last year’s top…
Saving Steak n Shake
Lots of Hoosiers have warm-and-fuzzy feelings for Steak n Shake. Wall Street’s feelings are an entirely different
matter.
As the company readies to announce fiscal fourth quarter financial results this Thursday, investors are exasperated.
The company has reported eight straight quarters…
Drug distributor to create 1,300 jobs in region
Medco Health Solutions’ plan to build a large pharmacy distribution center in the Indianapolis area hits the state’s “sweet spot” for economic development, local and state officials said today. By employing pharmacists to oversee prescriptions, engineers and computer geeks to design and run robotic equipment to dump pills into bottles, and logistics workers to route […]
Foreclosure panel wants greater disclosure
A state legislative panel assigned last summer to study the epidemic of mortgage foreclosures has agreed on several recommendations, according to The Journal Gazette of Fort Wayne. Lenders would be forced to give potential borrowers a summary of the highest possible interest rate they could be charged. Lenders also could not charge prepayment penalties for […]
EDITORIAL: Stunning victory a call to change: But Ballard shouldn’t forget past
Stunning victory a call to change But Ballard shouldn’t forget past The shock has faded and reality is starting to set in. Indianapolis really will have a new mayor in 2008. Republican Greg Ballard’s victory over two-time incumbent Mayor Bart Peterson was more than an election stunner of historic proportions-it was a rare case of voters turning over a city to someone they knew little about. Ballard, under-funded and under-supported by his own party, pulled off his epic upset for…
Bariatric product key for software firm’s growth: Former WellPoint execs heading up young company
Medical Animatics LLC hopes its latest product helps double its size while helping patients shrink theirs. The small Indianapolis firm plans to roll out bariatric-education software by yearend. By tapping the popular surgery procedure, Medical Animatics’ officers hope that product grows sales enough to double its nine-person work force in a year. The new product launch is the first major initiative for Medical Animatics since it secured angel investments from two former WellPoint Inc. officers earlier this year. Jane Niederberger…