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Few in Indiana using state fund to avoid foreclosure

A state program created to help Indiana residents avoid foreclosure by providing them with 10-year loans is seeing few takers even though the state's foreclosure rate is among the highest in the nation.

Company news

After 15 years of increasing yelps from primary care doctors, WellPoint Inc. is finally launching a plan to pay more for the family doctor’s time. The Indianapolis-based health insurer said Jan. 27 that it will increase the fees it pays to primary care specialists and even start paying for such services as crafting care plans for patients with complex medical problems. It also will offer doctors an opportunity to share in some savings when better patient care leads to a reduction in costs. An example of what WellPoint has is mind is paying doctors to take the time to coach overweight patients who have diabetes to develop an exercise plan and then making sure they stay on it. "It makes the physician the kind of physician their patient wants them to be," Jill Hummel, WellPoint's vice president of payment innovation, told the Associated Press. WellPoint reasons that by spending more at the primary care level, it can cut down on emergency room visits and hospital admissions—which are the most expensive types of care. Primary care doctors say low reimbursement rates force them to cram as many patient visits as possible into a typical day in order to make enough money to stay afloat. That keeps them from spending more than a few minutes with each patient. For a time, physicians made extra money by starting their own imaging and diagnostic centers. But health plans—both governmental and private—sharply curtailed payments to physician-owned facilities, sharply curtailing that source of revenue.

The third time’s a charm. California-based Amylin Pharmaceuticals Inc. and Massachuetts-based Alkermes Inc. succeeded in their third attempt to gain U.S. clearance for Bydureon, a once-weekly version of Amylin’s Byetta diabetes shot. The companies had been developing Bydureon with Eli Lilly and Co. until November. But Indianapolis-based Lilly broke off its partnership with Amylin after the two companies feuded over Lilly’s agreement to sell a competing diabetes medicine with Germany-baseed Boehringer Ingelheim GmbH. Amylin also agreed to make a one-time payment of $250 million to Lilly and to pay as much as $1.2 billion in royalties based on future sales of Bydureon and Byetta. In the meantime, Lilly is working to develop its own version of Bydureon, which is called dulaglutide. In 2010, Byetta produced revenue of about $700 million for the two companies, but its market share had been dented significantly by a once-daily version of the medicine, called Victoza, which was launched in 2010 by Denmark-based Novo Nordisk A/S.

Actress Florence Henderson—better known as Carol Brady from “The Brady Bunch”—will star in a series of advertisements for American Senior Communities LLC, an Indianapolis-based chain of nursing homes and long-term care facilities. The campaign will debut statewide this week in television, radio and print. Henderson, a native of Dale, currently hosts “The Florence Henderson Show” on Retirement Living Television and recently released her autobiography, “Life is Not a Stage.” Henderson previously served as a spokeswoman for Oldsmobile, Polident, Tang, Rain Soft, Pepsi and Wesson Oil. The advertising campaign was created and produced by Indianapolis-based marketing firm Bohlsen Group.

People

Kellie Hanner, a registered nurse, has been appointed chief operating officer at the Indiana Organ Procurement Organization. She joined the agency in 2000 as an organ recovery coordinator and was promoted to manager of the organ services department before becoming director of tissue service.

Dr. Linda Han has been named professor of clinical surgery at the Indiana University School of Medicine and director of the Indiana University Melvin and Bren Simon Cancer Center Breast Surgical Oncology program. Before joining the IU medical school faculty, Han practiced at St. Ann’s Hospital in Westerville, Ohio. Han received her bachelor’s degree and her medical degree from Indiana University.

Purdue hopes center simplifies commercialization

Purdue University’s new Innovation and Commercialization Center is supposed to be a one-stop shop for professors to get help developing their research into products and for outside investors to find out what research is taking place there.

Caldwell headed to Ravens, report says

Former Indianapolis Colts Coach Jim Caldwell plans to join the Baltimore Ravens as quarterback coach, according to an ESPN report. Colts owner Jim Irsay and new General Manager Ryan Grigson fired Caldwell on Jan. 17. Ravens defensive coordinator Chuck Pagano was hired last week as Caldwell’s replacement.
 

Eight escape local house fire

Eight people escaped a house fire early Monday in the 5100 block of West Southern Avenue. Wayne Township firefighters took about 10 minutes to extinguish the blaze, which broke out about 2 a.m. A father, his six children and another child who was spending the night made it out safely, but the home suffered heavy damage. A cause is being investigated.

 

Smoking ban faces roadblock

The Indianapolis City-County Council is set to vote Monday night on a proposed smoking ban with new exemptions, but the measure could face a veto from Mayor Greg Ballard. The proposed ban would exclude off-track-betting facilities, tobacco stores, hookah bars and some private clubs. The sticking point is an exclusion that would prevent clubs from allowing smoking if they also allow children on the premises. Ballard said he wants that restriction removed because it would hurt military veterans’ clubs that host youth events.
 

Festivities draw record crowds downtown

Super Bowl Village’s opening weekend met local organizers’ expectations—and then some—drawing more than 205,000 visitors from Friday through Sunday.

Gallagher sees more broker mergers coming

The Carmel office of Arthur J. Gallagher & Co. just made its sixth acquisition in five years, and it expects looming changes to tax and health laws to produce even more chances to snap up benefits brokers this year.

Construction

-Capitol Construction completed a 17,300-square-foot retail build-out for Monkey Joe’s at 46500 Southport Road.

-Capitol Construction completed a 15,250-square-foot office build-out for Indiana Legal Services at 151 N. Delaware St.

Residential

The average rate for 30-year mortgages rose from 4.18 percent to 4.25 percent for the week ended Jan. 25, according to Bankrate.com. The rate for 15-year mortgages rose from 3.39 percent to 3.45 percent.

Leases/leasing contracts

-Smart Warehousing leased 190,440 square feet of industrial space at 909 Whitaker Road, Plainfield. The tenant was represented by Mike Lubbers of Summit Realty Group. The landlord, Prologis Leasing-Indianapolis, was represented by Luke Wessel of Cassidy Turley.

-The Crane Bay LLC leased 18,750 square feet of industrial space at 551 W. Merrill St. The tenant was represented by George Charbonneau of Cassidy Turley. The landlord, Home Stove Realty Inc., was represented by Jack Pence and George Charbonneau of Cassidy Turley.

-Eaton Electrical Inc. extended its lease for 5,613 square feet of industrial space at 8431 Georgetown Road. The landlord, Biynah Industrial Partners LLC, was represented by Todd Vannatta and Michael Weishaar of Cassidy Turley. The tenant represented itself.

-Foremost Farms USA extended its lease for 4,635 square feet of industrial space at 8904 Bash St. The landlord, Westminster Funds, was represented by Todd Vannatta and Bryan Miller of Cassidy Turley. The tenant represented itself.

-Montana Beauty leased 3,600 square feet of industrial space at Park 100, 8525 Zionsville Road.  The tenant was represented by Rick Suja of Colliers International.  The owner, BRE/US Industrial Properties LLC, was represented by ProLogis.

-Cherry Top IT Systems, Inc. leased 2,850 square feet at 2461 Directors Row in Park Fletcher Business Center. The tenant was represented by Bart Book of Cassidy Turley. The landlord, American National Insurance Co., was represented by Don Wahle of Harshman Property Services.
 
-Advance America renewed its lease for 2,500 square feet of retail space in College Park Plaza, 3451 W. 86th St. The landlord was represented by Sandor Development. The tenant represented itself.

-Concept Technologies Inc. renewed its lease for 2,400 square feet at 2445 Directors Row in Park Fletcher Business Center. The landlord, American National Insurance Co., was represented by Don Wahle of Harshman Property Services. The tenant represented itself.

-Reader Copies leased 1,600 square feet of retail space in River Ridge Plaza, 1610 S. Scatterfield Road, Anderson. The landlord was represented by Jeff Roberts of Sandor Development. The tenant represented itself.

-Acceptance Insurance renewed its lease for 1,263 square feet of retail space in Esquire Plaza, 8239 Pendleton Pike. The landlord was represented by Sandor Development. The tenant represented itself.

-TC Financial leased 1,230 square feet of retail space at 69th & Michigan, 7035 N. Michigan Road. The landlord was represented by Drew Kelly of Sandor Development. The tenant represented itself.

-Nail Ikon renewed its lease for 900 square feet of retail space in Norgate Plaza, 7225-C N. Keystone Ave. The landlord was represented by Sandor Development. The tenant represented itself.

-Eastside Wireless leased 900 square feet of retail space at 21st & Mitthoeffer Center, 9846 E. 21st St. The tenant was represented by Scott Herider of Lee & Associates. The landlord, Indy Management Group, was represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.

-Dee’s Tasty Wings & Things leased 900 square feet of retail space at 21st & Mitthoeffer Center, 9846 E. 21st St. The tenant and landlord, Indy Management Group, were represented by Cindy Hoskinson and Herb Feldmann of Lee & Associates.

-Great Lakes Gabriel Project leased 684 square feet of office space at 5455 W 86th St. The landlord, Polaris Commercial Investments, was represented by Dan Baldini of Polaris Real Estate. The tenant represented itself.

-FNO Service Professionals Inc. leased 468 square feet of office space at 5455 W 86th St. The landlord, Polaris Commercial Investments, was represented by Dan Baldini of Polaris Real Estate. The tenant represented itself.

Sales/acquisitions

-Forrest D. Lucas bought a 36,090-square-foot industrial property at 480 Southpoint Circle, Brownsburg. The price wasn’t disclosed. The seller, Ranch Savi LLC, was represented by Luke Wessel of Cassidy Turley. The buyer represented himself.  

-ATS River Road Investment LLC bought a 47,388-square-foot industrial property at 16565 River Ave., Noblesville. The price wasn’t disclosed. The buyer was represented by Keith Dedrick of Corporate Commercial Group. The seller, Fishers Services Company LLC, was represented by Bart Book of Cassidy Turley.

-Lauth Property Group bought a 180,000-square-foot office building at 111 Congressional Boulevard, Carmel. The price wasn’t disclosed. The seller, Nationwide Investments, was represented by Dave Moore, Darrin Boyd and Rebecca Wells of Cassidy Turley. The buyer represented itself.

Circle Centre again suing Bella Vita over unpaid rent

Landlord Circle Centre Mall LLC is suing the restaurant over $77,275.24 in unpaid rent, according to court documents. Circle Centre also sued Bella Vita in June 2010 over $96,523.23 in overdue rent.