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A record 116 patents were filed by Indiana University faculty and staff in the fiscal year ended in June, the IU Research & Technology Corp. said today. The figure was roughly double the number of the past three years. Activity had retreated following a surge early in the decade. Five businesses were created, also an […]
Saying its need for electricity can be filled in other ways, Evansville-based Vectren Corp. announced yesterday that it will not go forward with a southwestern Indiana coal gasification project it planned with Duke Energy Corp. Vectren instead will turn to buying power, according to the Evansville Courier & Press. The company also will rely more […]
So many mortgage opportunities are available over the Internet that the unfolding woes of a single lender, American Home Mortgage Investment Corp., have caused relatively few problems in the Indianapolis area, real estate professionals say. Some buyers have been unable to close home purchases through the Melville, N.Y., giant, but the numbers appear to be […]
Indiana American Water Co.’s proposed 18-percent rate hike would be cut nearly in half under a settlement agreement with the Indiana Office of Utility Consumer Counselor filed yesterday. The proposal would allow the Greenwood-based firm a 9.9-percent increase in rates and charges. Indiana American Water also agreed to develop a long-range water conservation plan, to […]
Contractors are laying the groundwork to start construction on the $50-million Virginia B. Fairbanks Art & Nature Park at the Indianapolis Museum of Art. IMA has chosen a construction manager, The Hagerman Group, and work is slated to begin in…
Carmel-based Sagamore Health Network will keep its name even thought it has been acquired by Cigna Corp. The Philadelphia-based health insurer said its acquisition of Sagamore, Indiana’s third-largest managed care organization, will make it much more competitive in the state. In Indiana, Anthem Insurance Co. dominates the health insurance market. “It also adds significantly to […]
The possible bankruptcy of Charlotte, N.C.-based Beazer Homes USA Inc. caused investors to dump its stock today. Its shares were down 19.8 percent, to $11.34, at noon. Beazer, which entered the Indianapolis area in 2002 through its acquisition of locally based Crossmann Communities Inc., is the second-largest homebuilder in the area, according to IBJ ‘s […]
Cigna Corp.’s purchase of Sagamore Health Network should make it a more formidable competitor to Indianapolis-based Anthem Insurance Co. in the central Indiana health insurance market. And that could be a good thing for employers. That’s the initial reaction of one local health care expert after Philadelphia-based Cigna announced this morning it is acquiring Carmel-based […]
The city of Columbus, Ohio, and an affiliated redevelopment group are suing Indianapolis-based Simon Property Group Inc. over unpaid rent at a local mall, according to an article in Business First of Columbus. Mayor Michael Coleman and Capitol South Community Urban Redevelopment Corp. CEO Guy Worley said yesterday that they have sued Simon and General […]
Cigna Corp. has bought Sagamore Health Network Inc, the CEO of the Philadelphia managed-care giant said this morning during a conference call with analysts. Carmel-based Sagamore is the second-largest managed care organization in the state, with 725,000 members enrolled as of January 2006, according to IBJ‘s Book of Lists. It was mostly owned by affiliates […]
City officials are seeking bids to redevelop 7.5 acres northeast of downtown in the Martindale neighborhood. The property is the old Ertel Manufacturing plant at 2045 Dr. Andrew J. Brown Ave. The…
The administrator of the U.S. Environmental Protection agency said yesterday that the agency won’t stop BP’s plans to expand and discharge more ammonia and suspended solids into Lake Michigan. In an interview with the Chicago Tribune, Stephen Johnson said, “In this case, it’s my understanding that Indiana issued a permit that it fully compliant with […]
The project is being designed by locally based Browning Day Mullins Dierdorf. The partner in charge of the project is Greg Jacoby.
A California-based chain that sells videogames and gaming equipment has plans for at least two stores in central Indiana. Play N Trade has filed plans for stores in Carmel and Indianapolis….
Marian College is about to add its first new student housing in more than 40 years. Construction is set to begin this summer on a 78-rooms, 144-bed residence hall, designed by…
Eli Lilly and Co. could face the juicy prospect of a $2 billion hole in the diabetes market if the Food and Drug Administration acts on a recommendation from one of its safety scientists. David Graham is set to tell FDA advisers today to pull diabetes pill Avandia from the U.S. market, according to Bloomberg. […]
Officials for Indianapolis-based Just Marketing announced today that they have signed a deal with NASCAR to sell corporate sponsorships for the stock-car series’ Hall of Fame in Charlotte, N.C. Terms of the deal were not disclosed, but industry experts called it a strong mid-to-high seven-figure deal for Just Marketing, which also has offices in Charlotte. […]
Oakland City University has agreed to pay $5.3 million to the federal government to resolve charges that it paid incentive compensation to its admissions and recruitment counselors. The action violates provisions of the Higher Education Act. An unnamed whistleblower, who was a former employee, will receive $1.4 million of the settlement. The case against the […]
Indianapolis-based shopping mall owner Simon Property Group Inc. reported today that funds from operations, a common measure of the performance of real estate investment trusts, increased 4.1 percent in the second quarter, to $373 million. The $1.31 per share in funds from operations was less than the $1.33 anticipated by analysts surveyed by Thomson Financial. […]
A Houston firm has agreed to buy Pan Am Plaza’s office building, skating rinks and the plaza itself. The company, Principle Equity Management, is planning a low-rise, restaurant-anchored development that would…
