Frozen Custard on the Canal at last
Could it be? A long-promised Ritter’s Frozen Custard and a coffee shop apparently are on schedule to open later this month on the north end of the Downtown Canal. The $3.5-million renovation of…
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Wall Street Journal owner targeted by unsolicited offer
Dow Jones & Co., which publishes The Wall Street Journal, has been offered $60 per share by News Corp., the company controlled by media baron Rupert Murdoch, according to CNBC. News Corp. is planning a business news channel to compete with other broadcasters. Dow Jones shares almost tripled this morning on the news, rising from […]
Dow AgroSciences buys Austrian genetics firm.
Dow AgroSciences, the Indianapolis-based agricultural arm of Dow Chemical Co., has bought some assets of Maize Technologies International of Neusiedl am See, Austria, for an undisclosed price. Dow AgroSciences anticipates using Maize Technologies’ genetics to improve corn grown in short seasons in Europe and the United States. Local employment will not be affected by the […]
Standard Management tries failed deal again
A deal that fell through a year ago is back on the table for Standard Management Corp. The Indianapolis company, which sells pharmaceuticals to nursing homes, said today it has agreed to buy In-House Pharmacies Inc. of San Diego—this time through its newly formed unit Universal Healthcare Co. LLC. Terms were not disclosed today or […]
City selling more Central State land
A development team that bought 115 acres at the former site of Central State Hospital may soon buy another 33 acres from the city, at a cost of $223,500. Sound cheap? Mike Higbee, president of Development Concepts Inc. and one…
Lilly gift records show focus on areas of drug research.
Eli Lilly and Co. became the first drug company to make public its grants to U.S. organizations by posting the records on its Web site today. Most of the grants focus on endocrinology, neurosciences, oncology and other areas where Lilly develops drugs. The largest in the first quarter was to Massachusetts General Hospital’s Department of […]
Zimmer chooses new president from within
Zimmer Holdings Inc. has named David Dvorak as CEO to replace Ray Elliott, who is retiring in the first half of this year but will remain as chairman. Dvorak, 43, was group president of the Warsaw orthopedics company’s global businesses and chief legal officer. He has been with Zimmer for six years.
City welcomes real estate group
A few hundred of the nation’s most influential real estate developers, brokers and investors are in town this week for meetings at the Hyatt. The CCIMs, or Certified Commercial Investment Members, are meeting…
Wabash profit slows as customers grow cautious.
Wabash National Corp., the Lafayette-based manufacturer of semi-truck trailers, said profit in the first quarter slid to $1 million from $4.3 million a year earlier. Customers still seek quotes, but they follow through by placing orders less frequently because they’re “monitoring economic conditions,” Wabash said.
Live next door to The Distillery
Plans are in the works for a residential and retail project on a state-owned parking lot between Indiana Avenue, Capitol Avenue and Vermont Street, IBJ reported this weekend. Two groups bid for the three-quarters-of-an-acre parcel, and the winner includes Jim…
Vision 3 moves into new home, plans expansion: Ad agency grows by mixing technology with creativity
Since its founding three years ago, advertising agency Vision 3 has grown from two to 15 employees, and earlier this spring moved from a tiny office into an 8,000-square-foot building the company bought at 330 N. College Ave. V3 founders Jeff Hopler and Eric Davis remodeled the building’s interior themselves, mixing the downtown structure’s historical feel with modern touches reflective of the company’s technological expertise. Local peers see the move as a gamble, but the agency’s founders have become adept…
INVESTING: Private-equity deal-making driving up stock prices
The private equity folks are having a field day. In 2006, there was $160 billion worth of publicly traded companies taken private by private equity firms. In the last six months, several of these private equity firms have raised more than that from investors. Leveraging that money will create enough buying power to take almost every company in Japan private. But there is a competitor for those deals waiting in the wings, and these two Wall Street forces are going…
St. Vincent taking over Thomson HQ
A shrunken Thomson, the former manufacturer of RCA
televisions, is vacating a landmark office building at its Carmel headquarters to make way for St. Vincent Health, the parent
company of a growing chain of Indiana hospitals.
ECONOMIC ANALYSIS: Does growth in health care drive our state’s economy?
Indiana households, businesses and governments spent more than $33 billion on health care products and services in 2004. We don’t have current data yet, but you can be sure the amount is higher today. That’s because growth in health care expenditures in the state has averaged a whopping 8.6 percent per year since 1980. In 2004, spending on hospital care, physician services, prescription drugs, nursing homes, and every other kind of health care product or service gobbled up 14.4 percent…
EYE ON THE PIE: Bullying behavior beyond the playground
Bully: “a blustering browbeating person; especially: one habitually cruel to others who are weaker” (Merriam-Webster’s On-line Dictionary). I don’t want to overstate the case, but much of the news lately has been about bullies. Without any psychological qualifications, I see bullies as those who view themselves as weak persons or victims of abuse. They then use intimidation or violence to compensate for the injustice and indignity they perceive being imposed on them. The Virginia Tech massacre appears to have been…
Winning bidder plans mixed-use project: Plan for state-owned parcel would add new neighbors for Bourbon Street Distillery, Musicians’ Repair & Sales
The winning bidder for a prime piece of state-owned land on the west side of downtown hopes to break ground later this year on a residential and retail complex. The project would replace a shabby parking lot on a triangle-shaped block that is now anchored by The Bourbon Street Distillery and Musicians’ Repair & Sales. The U-shaped, 0.75-acre property at 340 N. Capitol Ave. touches Indiana Avenue, Capitol Avenue and Vermont Street. The development likely would include condos above a…
Hospital charity cases growing as ranks of uninsured swell
In the last three years, Indianapolis hospitals have seen a substantial run-up in the amount of charity care they give to patients who can’t pay. The cost of care is rising, more people are uninsured, and government officials are scrutinizing not-for-profit hospitals to make sure they give enough charity care to merit their tax-exempt status.
Growing medical technology bags major VC investment: Bloomington-based ProCure hopes to build national network of proton-therapy clinics after luring $35 million
If you’re as smart as a fifth grader, you know that a proton is a basic particle in an atom’s nucleus that has a positive electrical charge. What might be less well known is that proton therapy is becoming the preferred treatment for certain types of tumors. But here’s the real stumper: The man leading a mission to build and operate a nationwide network of proton-therapy clinics is a Bloomington researcher whose startup received a $35 million cash infusion in…
FAMILY BUSINESS: Warning: Inevitable conflicts ahead for siblings
If you have at least one child working with you in the family business, it is virtually inevitable that conflicts among your children will arise at your incapacity or death. You may have a “business child” and a “non-business child.” So long as you are alive and well, you can resolve any conflicts between them. But what happens when you become incapacitated or die? Sibling rivalry can not only destroy what you have worked so hard to build, but it…