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Phone company lays off hundreds amid inquiry

A subsidized phone service provider under scrutiny from Indiana regulators is laying off hundreds of salespeople across the country amid inquiries into its sales tactics.

Indy Indians chasing bigger crowds, more money

The Indianapolis Indians are red hot again this year. Not only is the team leading its division with a 61-38 record, but it is also chasing a fifth straight year with an attendance gain and profits that could eclipse $1.6 million.

Company news

Eli Lilly and Co. said it will test its experimental Alzheimer’s drug in patients with early stages of the disease after the medicine failed to slow the condition in more advanced patients. According to Bloomberg News, the trial of 2,100 patients, called Expedition III, will measure patients’ ability to do daily tasks like cooking or driving, and to remember words after a delay. Lilly is pushing ahead with the drug, called solanezumab, as potentially the first medicine to demonstrate that it treats Alzheimer’s causes rather than just the symptoms. The drug targets the buildup of plaque known as beta amyloid in the brain that’s thought to be a basis of Alzheimer’s. The trial should take about 22 months to complete. In earlier clinical trials, solanezumab failed to show overall effectiveness, but did appear to slow the progression of Alzheimer’s in patients with mild forms of the disease. Lilly’s new trial will use new tests for biological signs of the disease to help enroll early-stage patients and to see whether their illness is advancing. More than 5 million Americans have Alzheimer’s, the most common form of dementia, and the number is expected to surge to as many as 16 million by 2050 as the population ages, according to the Alzheimer’s Association. No drugs on the market have been shown to slow the disease. The market for medicines may be worth $20 billion annually, Deutsche Bank estimated last year. Merck & Co., Novartis AG, Roche AG and other large drugmakers are pursuing treatments.

San Diego-based American Specialty Health Inc., a wellness-program provider, plans to open an office in Carmel by March, employing at least 300 in “an operations, customer service and redundancy center.” Sources familiar with the situation said Carmel may also become the company’s corporate headquarters. Founded in 1987 in CEO George DeVries’ extra bedroom, ASH operates 13 subsidiaries that offer health-and-wellness services to employer groups, health plans and insurance companies nationwide. Its Healthyroads unit, for example, provides a Silver&Fit “healthy aging” program to Medicare Advantage beneficiaries. ASH and other players in the wellness industry are expected to keep growing thanks to provisions in the 2010 Affordable Care Act that create incentives to promote health-management programs. Privately held ASH reported revenue of $221 million last year, up 64 percent from 2009, when the company first appeared on the Inc. 5000 list of the country’s fastest-growing businesses. DeVries is a graduate of Culver Academies in northern Indiana and serves on its board. ASH already has a nine-person office on 96th Street in Indianapolis, and Freeman said those employees eventually will move to Carmel.

Indianapolis-based WellPoint Inc. will pay $1.7 million to the U.S. Department of Health and Human Services to resolve allegations it left the information of more than 612,000 members available online because of inadequate safeguards. According to the Associated Press, between Oct. 23, 2009, and March 7, 2010, security weaknesses in an online application database left the information of 612,402 people accessible to unauthorized users. That information included names, birthdates, addresses, telephone numbers, Social Security numbers, and health data. WellPoint, the nation’s second-largest health insurer, reported the breach to the Health and Human Services Department. The agency then started an investigation, saying WellPoint's actions may have violated the Health Insurance Portability and Accountability Act, or HIPAA.

Catarmaran Corp., a pharmacy benefits manager, plans to hire 205 people within two years at a hub it's building in Jeffersonville, according to the Associated Press. The Illinois-based company has committed to hiring 104 full-time, permanent employees next year and a total of 205 by 2015. The jobs paying an average of nearly $24 per hour will include pharmacists, technicians, call-center employees and others.

Construction

BC Dominguez Group has started construction of a 3,200-square-foot office building for Audio Solutions-High End Audio and Video Experience at 6340 Ferguson St.

People

Ted Wells has joined Charles C. Brandt Construction Co. as a project manager focusing on commercial/industrial projects from $10,000 to $10 million.

Residential

The average rate for 30-year mortgages rose from 4.48 percent to 4.66 percent for the week ended July 10, according to Bankrate.com. The rate for 15-year mortgages rose from 3.62 percent to 3.75 percent.

Leases/leasing contracts

-Kid Glove Service Inc. leased 563,820 square feet of industrial space at 2525 N. Shadeland Ave. The tenant was represented by Stan Elser of Lee & Associates. The landlord, 2525 Shadeland LLC, was represented by Todd Vannatta of Cassidy Turley.

-Building Bridges Early Learning Center leased 15,000 square feet at Madison on the Mall, 1211 N. Madison Ave., Greenwood. The landlord, Murnel Property LLC, was represented by Tracey Holtzman of Midland Atlantic Properties. The tenant represented itself.

-R&S Design Gallery leased 9,460 square feet of industrial space at 8730 8932 Corporation Drive. The tenant was represented by Cameron Kucic of Summit Realty Group. The landlord, Westminster Funds, was represented by Todd Vannatta of Cassidy Turley.

-On Time Delivery Inc. leased 7,200 square feet of industrial space at 5058 5148 W. 79th St. The tenant was represented by J.D. Graves of CBRE. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley.

-Infodynamics leased 5,460 square feet of industrial space at 9855 Crosspoint Blvd. The tenant was represented by Bill Ehret of Summit Realty Group. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley.

-Heartland Fuel LLC leased 3,600 square feet of industrial space at 5333 5367 W. 86th St. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley. The tenant represented itself.

-RSI Solutions Inc. leased 2,880 square feet of industrial space at 1761 N. Sherman Drive. The landlord, Brookside Industrial Park LLC, was represented by Fritz Kauffman and Michael Weishaar of Cassidy Turley. The tenant represented itself.

-Window Universe leased 2,700 square feet of industrial space at 5058 5148 W. 79th St. The tenant was represented by Bobbi Charters of RE/Max Lafayette Group. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley.

-Krause Dental leased 2,674 square feet at Carey Shops, 3247 E. State Road 32, Westfield. The tenant was represented by Matt Jackson of Jackson IG. The landlord, H.W. Carey LLC, was represented by Dean Almas of Sitehawk Retail Real Estate.  

-Urban Furniture Discounters Mattress Store leased 2,400 square feet at Castleton Marketplace, 8383 Castleton Corner Drive. The landlord, Castleton Square Marketplace LLC, was represented by Jeff Hubley of Midland Atlantic Properties. The tenant represented itself.

-Wynright Corporation leased 2,400 square feet of industrial space at 5603 W. Raymond St. The tenant was represented by Eve Shirley of Carmen Commercial Real Estate Services. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley.

-The Joint leased 2,159 square feet at Hamilton Town Center, Noblesville. The tenant was represented by Tracey Holtzman of Midland Atlantic Properties. The landlord, Hamilton Town Center LLC, was represented by Lorene Wright of Simon Property Group.

-Fanfare Tickets leased 2,154 square feet at 116th Street Centre, 33 E. 116th St., Fishers.  The landlord, TCP Guilford LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

-Great Fermentations leased 1,800 square feet at Avon Crossing, 7900 E. U.S. 36, Avon.  The landlord, Cranfill Development Corp., was represented by Michael Cranfill of Sitehawk Retail Real Estate. The tenant represented itself.

-Century Business Products leased 1,800 square feet of industrial space at 8930 Bash St. The landlord, Westminster Funds, was represented by Todd Vannatta of Cassidy Turley. The tenant represented itself.

-Next Level Nutrition leased 1,000 square feet at Cool Creek Commons, 2456 E. 146th St., Carmel. The tenant was represented by Marilyn Farley of ReMax Select Inc. The landlord, Westfield One LLC, was represented by Andrew Hasbrook of Kite Realty Group.

-The Waxing Spot leased 884 square feet at 116th Street Centre, 33 E. 116th St., Fishers.  The landlord, TCP Guilford LLC, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.

Sales/acquisitions

-Dan and Donis Vail bought 23.33 acres at 8300 Olio Road and County Road 600 West, McCordsville. The buyers and the seller, Fifth Third Bank, were represented by Bill Flanary of Cassidy Turley.

-Frontier Paper & Packaging bought a 160,000-square-foot industrial property at 2000 Executive Drive. The buyer was represented by Tom Cortese of Acorn Group Inc. The seller, Caterpillar Inc., was represented by Jeff Castell and Patrick Lindley of Cassidy Turley.

Politicians looking to pump image find plenty of stats

Want a top ranking in economic development? There's a study for that. Need a report showing Indiana's jobs situation is stellar and Illinois' is one step away from being declared an international disaster zone? There's a business publication for that.

Daniels’ hiring of ex-aides for Purdue posts draws scrutiny

About 30 new management or professional hires have appeared on Purdue's payroll since Daniels took office in January. At least six are former colleagues from Daniels' days as governor and as a top executive at Eli Lilly and Co.

People

HealthNet Inc., a system of not-for-profit health centers in Marion County, has named Ricardo Diaz chief operating officer, effective Aug. 19. For the past seven years, Diaz worked as chief operations officer for Southern Illinois Healthcare Foundation. Diaz is a veteran of the U.S. Marine Corps. He holds a bachelor’s degree in health care administration from American Intercontinental University and a master’s degree in business administration from Ashford University.

Pearl Pathways recently hired Mark Killion as business development director. The Indiana University graduate has been a salesman for various companies, including Actavis Inc., Acorda Therapeutics and Savient Pharmaceuticals.

Indianapolis-based medical research organization Regenstrief Institute Inc. named Thane Peterson executive operating officer. Peterson has served since 2006 as senior director for contracts and compliance at Iowa-based Telligen, a population health management organization. He previously served as director of the office of sponsored programs administration for Iowa State University. Peterson holds a bachelor’s degree in business finance from Iowa State and a master’s of public administration from Drake University.
 

HICKS: There’s no end to odd stories about coinage

Today, we hear from seemingly sophisticated folks that we should return to the gold standard, and so ensure long-run stability and remove those unseemly humans from decisions about money. That argument ignores two common axioms.