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State Supreme Court turns away Lilly beneficiaries:

It seemed like a feel-good story for the ages. Heiress Ruth Lilly’s estimated $185 million gift to two fledgling arts groups made headlines around the globe when the news broke five years ago. Then events took a dramatic turn. The organizations-the Chicago-based Poetry Foundation and the Washington, D.C.-based Americans for the Arts-charged their fortunes should be far larger. They sued National City Bank of Indiana, alleging it bungled management of Lilly’s assets, costing them tens of millions of dollars. A…

Pledge blitz buoys Bowl bid

The team leading Indianapolis’ bid to host the 2011 Super Bowl is calling on the corporate community to get in the game fast.
More than a dozen business leaders are rushing to raise $25 million before May 23, when NFL owners are expected to select
a host city from hopefuls Indianapolis; Dallas; and Glendale, Ariz.

Rivals tangle over impact of new hospitals: Health care providers disagree on how head-to-head competition will affect costs

Once joined at the hip, the two main health care providers in Tippecanoe County-Arnett Health System and Greater Lafayette Health Services-have become fierce rivals. Each is building a new hospital and will compete to provide services for the 154,000 county residents, and tens of thousands more in surrounding counties. Lafayette-based Arnett, a multi-specialty medical practice, has 140 doctors at a dozen area locations, plus eight facilities in other parts of the state. Greater Lafayette Health Services, part of Mishawaka-based Sisters…

Bowland Solutions Assessing a niche: Online job reviews help firm build global client base

Sometimes it’s hard to tell who hates performance reviews more-managers or employees. But what if the timeworn paper-based annual assessment were replaced with a Web-based process that allows managers to consistently evaluate employees’ skills against company goals? Indianapolis-based Bowland Solutions has come up with just such an alternative, and it has helped the firm build a client roster that includes heavyweights like international banking giant HSBC, music purveyor Virgin Megastores, global pharmaceutical firm GlaxoSmithKline and Earthbound Farm, North America’s largest…

Physician assistants want OK to prescribe drugs: Bill would make Indiana last state to allow it

Indiana could see a wave of new physician assistants working here if lawmakers allow the medical technicians to prescribe medicine. So say the proponents of House Bill 1241, now being debated in the Indiana Senate. They claim Indiana, as the only state yet to grant the prescribing prerogative, forces doctors to hire fewer physician assistants and so loses health care workers to other states. That’s a particularly important issue in rural and some urban areas, where doctors are scarce. Because…

Indy Men’s Magazine to fold

Shrinking advertising revenue has persuaded the owners of Indy Men’s Magazine to stop publishing the free, glossy monthly after five years. Publisher Todd Tobias said the final, May issue will be distributed in late April: “As a monthly print publication, we’re done,” he said. Magazine parent Table Moose Media LLC is owned by Tobias, his […]

Oxford BioSignals to create up to 120 jobs

How does aviation technology conceived at Oxford University and developed with the help of Rolls-Royce end up being tested at Methodist Hospital and commercialized in Carmel? Oxford BioSignals Medical CEO Frank Cheng knows the answer. Even better, he can explain why his startup is poised to add 120 jobs over the next few years. “At […]

Ice Miller adds lobbying to Washington office

Indianapolis law firm Ice Miller has added two lawyers to its Washington, D.C., office who will offer legal services as well as lobbying—a first for the firm at the federal level. Graham Hill and Clayton Heil replace attorneys who left. Ice Miller is the largest law firm in the Indianapolis area, with 234 attorneys, according […]

Survey: Customers prefer not-for-profit health insurers

Publicly traded health insurers, such as Indianapolis-based WellPoint Inc., received lower marks from their customers than did not-for-profit health plans in a recent survey by J.D. Power & Associates. Not-for-profit plans rated higher in coverage allowed, level of benefits, and choice of doctors and hospitals, Bloomberg reports. The survey questioned more than 10,000 customers across […]

Carmel medical device startup poised to expand

Oxford BioSignals Medical is expected to announce an expansion of its Carmel headquarters this afternoon, according to Indiana Economic Development Corp. Oxford has seven employees. Formed in 2000, Oxford BioSignals began its life when research scientists in the United Kingdom developed a new system to electronically monitor the performance of aircraft engines. By continuously monitoring […]

Ex-Muncie development official pleads guilty to child porn

Morris D. Windhorst, who led an economic development organization in Muncie in 2004 and 2005, yesterday pleaded guilty to two counts of possessing child pornography, according to The Star Press of Muncie. Police found child pornography on Windhorst’s home computer in February last year after he was arrested for proposing sex in an Internet chat […]

Donation to Purdue doubles tech transfer funding

The $100 million gift to Purdue University that’s scheduled to be announced this morning will generate enough income to double the university’s spending on technology transfer, the process of shifting laboratory discoveries into products that can be sold by companies. Income expected to be created by the endowment from Mann Foundation for Biomedical Engineering is […]

Noble Roman’s profit stagnated in 2006

Noble Roman’s Inc. reported $1.9 million in profit for 2006, down from $2.9 million in the prior year. However, the Indianapolis company benefited in 2005 from a $1 million one-time settlement from SummitBridge National Investments LLC. The company, which franchises Noble Roman’s Pizza and Tuscano’s Italian Style Subs restaurants, has announced area development agreements in recent […]

Calpers criticizes Lilly corporate governance

Eli Lilly and Co. is among 11 companies singled out by the mammoth California Public Employee Retirement System for “dismal stock performance” and poor corporate governance, according to Bloomberg. Lilly landed on Calpers’ annual “Focus List” for not allowing shareholders to amend company bylaws and by having tiers of board members that prevent the board […]

Shoe Carnival sees record profit

Evansville-based Shoe Carnival Inc. today reported profit of $5.1 million in the fourth quarter ended Feb. 3, up from $3 million a year earlier. Sales rose 8.3 percent, to $177.2 million. For the fiscal year, profit increased 26.5 percent, to $23.8 million, and sales grew 4 percent to $681.7 million. Same-store sales fell 0.9 percent […]

Ivy Tech finalist says governor favors internal candidate

One of two finalists vying to become the next president of Ivy Tech Community College said two members of the administration of Gov. Mitch Daniels told him he is not the governor’s preferred candidate. Thomas P. Snyder, a former executive at Remy International Inc. in Anderson and currently chairman of Flagship Enterprise Systems Center, an […]

UPDATE: Huge gift to deepen Purdue role in development

When Purdue University announces tomorrow it has received its largest single research gift, the school will further cement its role in boosting the state’s economy, one expert says. “One of the biggest discoveries of economic impact studies between schools and the economy is the school’s role in commercialization,” said Patrick Barkey, an economist and director […]

UPDATE: Purdue has accepted controversial gift

Purdue University is expected to announce tomorrow that it has received a major gift from a foundation that at least two public and private schools have rejected, reports the Chronicle of Higher Education. Purdue would be the first public university in the country to sign a deal with the Alfred E. Mann Foundation for Biomedical […]

Manufacturing leader Kiely interviewed for Ivy Tech post

Indiana Manufacturers Association President Pat Kiely was one of six finalists interviewed to replace Ivy Tech Community College President Gerald Lamkin, who is retiring June 1. Kiely was eliminated from the search because he doesn’t have advanced academic degrees, said two sources who are familiar with the interviews but wished to remain anonymous. Kiely refused […]

Taurel predicts flat Zyprexa sales

Safety jitters will cause sales of Eli Lilly and Co.’s Zyprexa schizophrenia drug to stop growing this year and stabilize at 2006 levels, CEO Sidney Taurel told reporters yesterday following a meeting at the Chief Executive’s Club at Boston College. The blockbuster drug has been blamed for weight gain and triggering diabetes in some patients. […]