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NOTIONS: From a father to his sons upon their graduation

Dear Austin and Zach: Well, my sons, it’s milestone week: your last day of high school; your 19th birthday; your mom and stepdad’s move to new digs designed for you as occasional guests rather than fulltime residents. Next up: “Pomp and Circumstance,” forgettable oratory and lots of unsolicited advice. And, of course, your big reward for 12 years of educational servitude: You get to move a tassel from the right to the left side of a rented mortar board. Inevitably,…

BEHIND THE NEWS: Missing the market rally: state retailers slumping

It’s a great stock market for many companies, but Hoosier retailers like The Steak n Shake Co., Finish Line Inc. and Shoe Carnival Inc. are being left in the dust. You know a retailer’s having a tough time when it says it was hurt by stormy weather, high gas prices and housingrelated woes-all at once. Steak n Shake CEO Peter Dunn put it succinctly in a conference call with analysts this month: “As gas prices go up and as interest…

Law lets small employers band together for insurance: Experts disagree on whether associations will take off

The Healthy Indiana Plan, which enacts a system to bring affordable health insurance to low-income Hoosiers, is one of the most far-reaching pieces of legislation to arise from the General Assembly this spring. The noble cause could provide coverage to about 15 percent of the state’s population. Yet it could affect the small-business community as much as the state’s growing number of uninsured. House Bill 1678, introduced by State Rep. Charlie Brown, D-Gary, and signed by Gov. Mitch Daniels May…

Plan calls for mixed-use giant

A local developer is planning an ambitious project called Woodfield Crossing that would add 1.8 million square feet of development to the southwest corner of 86th Street and Keystone Avenue. The project,…

Venu

Venu calls for a mall roughly the size of The Fashion Mall at Keystone, a 575-room hotel that would be the city’s third largest after a new JW Marriott and the Indianapolis Marriott Downtown, and an office building with nearly…

Jury finds Harcharik liable in Brightpoint case

A federal jury in Manhattan Friday afternoon found former Brightpoint Inc. manager Timothy Harcharik aided and abetted securities fraud at the company in the late 1990s. After a four-day civil trial, the jury found against Harcharik on three counts of aiding and abetting. The jury found in his favor on another aiding-and-abetting count and on […]

Appeals court upholds ruling tossing out F1 claims

The 7th Circuit Court of Appeals in Chicago today upheld a court decision that tossed out a class-action lawsuit brought by disgruntled Formula One fans. The unanimous decision affirmed a 2006 ruling by U.S. District Judge Sarah Evans Barker, who said the suit failed to state a claim for which relief could be granted, according […]

Restaurant bonanza

A local businessman has plans for two new independent restaurants downtown near the corner of Ohio and East streets. One of them, Cabo’s Mexican Grill, is slated to open next week at 132 East St., across from Fifth Third Bank….

April home sales slip, new listings increase

Central Indiana home sales fell to 2,577 in April, down 3.8 percent from the same month last year, the Metropolitan Indianapolis Board of Realtors said today. For the year, the sales are off 7.9 percent. New listings for April increased 5.5 percent from a year earlier, and prices held steady despite the slow sales and […]

Lilly buys Kansas animal drug company

Eli Lilly and Co. said today it has bought Ivy Animal Health Inc. for an undisclosed price. The Overland Park, Kan., company, which primarily sells cattle growth promotants, will compliment Lilly’s Elanco animal health arm, Lilly said. The deal is expected to close in the second quarter and result in a charge to earnings of […]

Tell City supplier to Toyota to expand, create 90 jobs

ATTC Manufacturing Inc., which supplies brake drums, rotors and differential cases to Toyota plants in North America, said today it will expand its plant at Tell City. Ninety jobs will be added by the $49 million project in the southern Indiana community. ATTC received $3.3 million in state and local economic development incentives.

Hilbert auction at Sotheby’s yields $8.8M

Steve and Tomisue Hilbert’s furniture and housewares fetched $8.8 million Thursday in a Sotheby’s auction in New York. The total exceeded the estimated value of the Hilbert collection, which Sotheby’s estimated at $5 million to $7.7 million. The Hilberts are also scheduled to sell eight paintings on June 8, which could be worth more than […]

Office market musical chairs

The Indiana Supreme Court, Court of Appeals and Tax Court have signed a letter of intent to move their offices to space formerly occupied by Eli Lilly & Co. at 30 S. Meridian. They’re leaving National City Center. The courts…

Fake Zyprexa found by British regulators, report says

Three counterfeit batches of Zyprexa, Eli Lilly and Co.’s blockbuster schizophrenia drug, have been discovered in the supply chain in the United Kingdom, according to Reuters. The product has been recalled by the U.K.’s Medicines and Healthcare Products Regulatory Agency to err on the side of caution even though the agency thinks only two batches […]

ABA signs deal with Toronto firm to launch media division

The American Basketball Association, an Indianapolis-based professional basketball league, and Toronto media company Caricom have signed a deal to create ABA Media, an initiative launched to maximize potential of a variety of media opportunities for the league, including television, radio, Web streaming, podcasting and other technologies. “Caricom is a new breed of media organization that […]

Fort Wayne sued by businesses to stop smoking ban

Several businesses have filed suit against the city of Fort Wayne in the hope of persuading a judge to declare a pending city-wide smoking ban unconstitutional. The business owners claim the ordinance is too broad, but the author, City Councilman John Crawford, says he is confident the suit will fail, according to The Journal Gazette […]

A quest to revive TeePee

Dick Turner, the man who owns the name and recipes to the classic Indy restaurants from the 1930s to 1970s, is hoping to open an updated version on the south side. Check out the story here. At its…

Shoe Carnival profit slips due to weak market

First-quarter profit fell to $7.3 million from $7.4 million a year earlier for Shoe Carnival Inc., the Evansville shoe retailer reported today. Comparable-store sales in the period ended April 29 dipped 3.7 percent. The company blamed the results on sluggish shoe sales across the industry.