Muncie council backs $60M project near Ball State
The Muncie City Council has approved financing for a six-story parking garage as part of a planned $60 million project with apartments and commercial storefronts.
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Salesforce.com buying Indy’s ExactTarget in $2.5B deal
ExactTarget, an Indianapolis-based digital marketing company, is fetching $33.75 per share—a whopping 53-percent premium to where its stock closed Monday.
IEDC rolling out $1M diversity investment fund
Fund managers will seek to invest in companies owned by minorities, women and veterans that have sustainable competitive advantages, scalable business models and the potential for meaningful job creation.
Carmel council clashes over support of Midtown project
The Carmel City Council will not support Pedcor Cos.’ application for a state tax credit to help pay for a $100 million redevelopment project—a contentious decision Mayor Jim Brainard called “unusual and illogical.”
Longtime business, civic leader Walls dies at 86
John W. Walls served as president of the Indiana Chamber of Commerce from 1977 to 1992 and as senior deputy mayor of Indianapolis under Richard Lugar.
Buckingham set to redevelop Carmel shopping center
The Carmel Marketplace on East Carmel Drive is directly south of the Mohawk Hills apartment complex, which Buckingham hopes to start redeveloping as part of its long-awaited Gramercy project late this year.
Indiana Blood Center cuts staff, scales back work
The not-for-profit blood center announced Monday that demand from hospitals has fallen 24 percent over the past year, forcing it to take steps that also include freezing management salaries, eliminating 45 positions and discontinuing a therapeutic phlebotomy program.
Simon to buy $569M stake in European mall operator
Simon will gain an ownership stake in six McArthurGlen properties in Austria, the Netherlands, Italy and the United Kingdom, and become a partner in the London-based firm’s real estate management and development business.
Are employers ready to limit workers’ choice of doctor?
The real test of so-called narrow network health plans will come not with Obamacare's exchanges, but with employers, who control a far bigger slice of the health benefits pie and have been highly reluctant to limit their workers' choice of hospitals and doctors.
Research institute tries to succeed where Michigan failed
While Indiana’s governor, legislature and life sciences executives are united behind the proposed Indiana Biosciences Research Institute, the state of Michigan has a cautionary tale to tell about such an effort.
Former Indy Chamber prez scores consulting work
Scott Miller, who resigned from the chamber post after less than two years to follow his entrepreneurial bent, will help two local startups get off the ground.
State warns of utility-bill scammers
The state Attorney General’s Office says Indiana residents are receiving telephone calls from imposters who ask them to pay delinquent utility bills. The agency says the callers pretend to be utility company employees and may threaten to disconnect the residents’ gas or electricity. The scammers demand payment but refuse to accept checks or credit cards. Instead, they ask the customer to buy a prepaid debit card and call them back with the PIN number.
Man arrested in shooting death
Indianapolis homicide detectives arrested a 24-year-old man over the weekend in connection with a shooting death. Philip Garrett, 24, was preliminarily charged with the murder of Carl Gildersleeve, 28, who was gunned down in a gas station parking lot at 2434 N. Keystone Ave. about 3:40 a.m. Saturday morning.
Van speeds into Lawrence house
A speeding minivan lost control, hit a fence, went airborne and upside-down, then crashed into a house in Lawrence about 2:30 a.m. Monday. Nobody was home at the time and the 29-year-old female driver walked away relatively uninjured. Police say the car was traveling nearly 90 mph in a 45-mph zone. The driver was taken to the hospital for a blood draw to see if alcohol or drugs played a role.
Are employers ready to limit workers’ choice of doctor?
The real test of so-called narrow network health plans will come not with Obamacare’s exchanges, which cater to individuals, but with employers, who control a far bigger slice of the health benefits pie and have highly reluctant to limit their workers' choice of hospitals and doctors.
Drug sold by Lilly tops Avastin in colon cancer survival study
Patients who got Erbitux together with chemotherapy as a first-line treatment lived about four months longer than those who got Avastin with chemotherapy, according to the 592-person study.
People
WellPoint Inc. named Lewis Hay III to its board of directors after announcing earlier this month that three members had resigned for personal reasons. He serves as executive chairman of Juno Beach, Fla.-based NextEra Energy Inc. but will retire at the end of this year. He was CEO of that company from 2001 through last year. WellPoint, the nation's second-largest health insurer, said May 13 that three long-standing board members—Sheila P. Burke, Dr. Lenox D. Baker Jr. and Susan B. Bayh—had left the board but did not resign due to disagreements or disputes with the company.
Manufacturing activity sinks to 4-year low
Manufacturing has struggled this year as weak economies abroad have slowed U.S. exports. U.S. businesses have also reduced their pace of investment in areas such as equipment and computer software.
Company news
Carmel-based Mainstreet Property Group plans to build a 100-bed “health care resort” on seven acres at 5404 Georgetown Road, according to a tax-abatement request filed with the city. The $9.25-million, 65,000-square-foot nursing-home and assisted-living facility would feature an Internet cafe, movie theaters and restaurant-style dining with an on-site chef, spokeswoman Kate Snedeker said. Seventy of the beds would be for skilled nursing and 30 for assisted-living residents. Mainstreet would lease the property to a third-party operator, which hasn’t been identified. Mainstreet estimates the operator would employ 80 people earning an average $17.30 per hour. Mainstreet is seeking a three-year property-tax abatement that would save the company about $468,000, according to a preliminary resolution that goes before the Metropolitan Development Commission on June 5.
Indiana University and Purdue University joined nine other members of the Big Ten athletic conference June 1 to form the Big Ten Cancer Research Consortium. The schools intend to conduct collaborative clinical trials to develop insights and products to treat cancer. Indianapolis-based cancer research organization Hoosier Oncology Group will serve as administrative headquarters for the consortium. Since 1984, Hoosier Oncology Group has initiated more than 150 clinical trials with more than 4,000 patients. “The advantage of this, particularly during a time of austerity for research, is that we can build upon the strengths of the institutions and fortify some of the shortcomings,” Dr. Patrick Loehrer, director of the IU Melvin and Bren Simon Cancer Center, said in a prepared statement.
Eli Lilly and Co. suffered a setback on one of its attempts to win approval for new indications for its blockbuster lung cancer drug Alimta. The drug did not extend progression-free survival times longer than the old chemotherapy drug paclitaxel when studied in a clinical trial of patients with nonsquamous non-small lung cancer. Paclitaxel, or Taxol, was given to patients with two other chemotherapy agents, carboplatin and bevacizumab. Alimta was given to patients along with carboplatin. Alimta had nearly $2.6 billion in global sales last year, but its rate of growth slowed to just 5 percent. Lilly hoped a new indication would reignite Alimta growth rates, helping it offset revenue Lilly will lose in the next year as patents on its drugs Cymbalta and Evista expire. Alimta, by contrast, has patents that will likely extend its life through 2021.