LOU’S VIEWS: Urbanski renewal for Indianapolis Symphony
A new maestro sparks the ISO, plus thoughts on Indiana Repertory Theatre’s “Dracula” and Beef &Boards’ “Singin’ in the Rain.”
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Big ambitions for small planning firm
Eden Collaborative, the three-man company Adam Thies founded in 2004, is working to revitalize St. Clair Place on Indianapolis’ east side, among other projects.
City-County Councilor Nytes named library CEO
City-County Councilor Jackie Nytes was chosen as the next CEO of the Indianapolis-Marion County Public Library on Thursday night by the system's board of trustees.
Construction
-Capitol Construction Services has completed a full interior renovation of the Starbucks at 12465 N. Meridian St., Carmel.
-Capitol Construction Services has completed a 2,200-square-foot build-out for Hot Box Pizza at 2499 Futura Parkway, Plainfield.
Indianapolis tech firm BidPal receives $5.6M infusion
The investment from Allos Ventures in Carmel and MK Capital in Northbrook, Ill., will help the company expand into more cities. BidPal uses wireless handheld devices to automate charitable auction bidding.
Indiana Soccer Association moving to Westfield
The Indianapolis-based soccer association’s decision to move to Westfield’s Grand Park Sports Campus follows a similar announcement earlier this year by the Lids Indiana Bulls, a youth baseball organization.
EDITORIAL: Software Artistry a success story all can celebrate
The help-desk software maker spawned at least 15 tech startups here … and unleashed a torrent of investment capital and talent that continues to fuel a critical sector of the local economy.
Burn treatment inspires Fifth Third’s $5M Wishard gift
Fifth Third Bank executive Kevin Hipskind's experience as a patient in the burn unit of Wishard Hospital played a role in a $5 million gift the Cincinnati-based bank is making for Wishard’s new Eskenazi Hospital, under construction at IUPUI.
Company news
Looks like Roche Diagnostics Corp. is finally getting clear of its troubles at the FDA. On Thursday, Switzerland-based Roche announced it won approval from the U.S. Food and Drug Administration for a new test strip that works with its Accu-Chek Aviva blood glucose monitors. Roche developed the new strip because its previous version of test strips used an enzyme that, in rare cases, could give a falsely high blood sugar reading. A falsely high reading, if acted upon with a correspondingly high dose of insulin, could be harmful or even fatal to some patients. The concerns of the FDA have kept Roche Diagnostics, which maintains its U.S. headquarters in Indianapolis, from getting new blood glucose monitor products approved in the United States, costing Roche market share here. For example, its Aviva Nano meter, which has sold well in Europe, has never hit the market in the United States. “This clearance is a significant milestone for our organization—one that will position us well for the clearance of other products in our pipeline," said Daniel O’Day, chief operating officer of Roche Diagnostics.
After trudging through nearly three years of soft demand, the Warsaw-based makers of orthopedic hip and knee implants—Zimmer, Biomet and DePuy—are unlikely to see a worldwide recovery before the end of 2012, according to a new report from Leerink Swann & Co. Analysts Rick Wise and Richard Newitter think the debt issues in Europe, the uncertain economy in the United States, and global economic pressures will lead many patients to continue to defer their hip or knee surgeries. “Looking out over the next 12-18 months, we are inclined to take a more cautious view regarding a possible growth rebound in large joint procedure volumes,” the analysts wrote. They predict a shrinkage in those surgeries in the third quarter of 0.2 percent and then modest fourth-quarter growth of 1.2 percent.
If this was meant to boost the stock price, it isn’t working. Since launching a $100 million share repurchase program in May, Carmel-based CNO Financial Group Inc. has purchased nearly 8.8 million common shares for a total of $55.7 million, the company announced last week. Also, for every dollar CNO spends buying its own stock, it also has to spend a dollar paying down its bank loans. But since the life and health insurer launched the repurchase program on May 16, CNO’s share price has fallen 29 percent, closing Friday at $5.41. Over the same time period, the broad Russell 3000 index has fallen 17 percent.
Leases/leasing contracts
-Kuehne + Nagel leased 126,420 square feet in Park Fletcher Building 38, 2840 Fortune Circle West. The tenant was represented by Mark Writt and Bayne Porter of CB Richard Ellis. The landlord, Duke Realty, was represented by Duke’s Glenn Davis.
-Thrifty Supply leased 28,000 square feet at East Main Street Shoppes, 1004 E. Main St., Brownsburg. The tenant was represented by Jodi Milto of Midland Atlantic. The landlord, Mark IV Co., represented itself.
-Tilted Kilt leased 8,000 square feet at 141 S. Meridian St. The tenant was represented by Ryan Murphy of SRS Real Estate. The landlord, SMC-Retail LLC, was represented by Gary Perel of Newmark Knight Frank Halakar.
-Napa Auto Parts leased a 7,500-square-foot former Speedway Auto Parts at 2678 E. Main St., Plainfield. The landlord, Dorothy Turner, was represented by Tracey Holtzman of Midland Atlantic. The tenant represented itself.
-Formstack leased 5,206 square feet of office space at 8606 Allisonville Road. The tenant was represented by Kevin Gillihan and Graham Summers of Jones Lang LaSalle. The landlord, Castle Creek Office LLC, was represented by Brian Fitzgerald of Citimark Management Co.
-Associated Bank leased 5,102 square feet at 300 N. Meridian St. The tenant was represented by John Crisp of Cassidy Turley. The landlord, University Park Associates LLC, was represented by Mike Napariu of REI Real Estate Services LLC.
-Bu Da Lounge leased 5,000 square feet at 148 E. Market St. The tenant was represented by Conrad Jacobs of Newmark Knight Frank Halakar. The landlord, Center Township Investments LLC, was represented by Gary Perel of Newmark Knight Frank Halakar.
-Grace Assembly of God renewed its lease for 5,000 square feet of retail space in South Greenwood Shoppes, 6001 N. U.S. 31, Whiteland. The tenant was represented by Bruce Richardson of Royal Cos. The landlord, HRCP Inc., was represented by Cathy Richards of Lee & Associates.
-The Flying Cupcake leased 4,000 square feet of retail space in Stewart Place, 831 S. Rangeline Road, Carmel. The tenant was represented by Bart Jackson and Scot Courtney of Lee & Associates. The landlord, TT Commercial One LLC, was represented by Susannah Gershman of Thompson Thrift.
-Laundry Bright leased 3,400 square feet at Hanna Shops, 3915 S. Madison Ave. The tenant was represented by Jodi Milto of Midland Atlantic. The landlord, RCS Holdings LLC, was represented by Jeff Merritt of Summit Realty Group.
-Soil and Materials Engineers Inc. leased 2,585 square feet of office space at 5847 W. 74th St. The tenant was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The landlord, Duke Realty, was represented by Kate Willen of Duke.
-The Environmental Protection Agency leased 2,407 square feet of office space at 10 W. Market St. The landlord, MT Acquisitions LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.-FileWave USA Inc. leased 2,000 square feet of office space at 10711 Horse Creek Court. The landlord, Prairie View at Crosspoint LLC, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-Nail Spa leased 1,300 square feet at Carmel Walk, 1305-1327 Rangeline Road, Carmel. The landlord, The Fineberg Group, was represented by Pay Boyle of Midland Atlantic. The tenant represented itself.Construction
-Capitol Construction Services has completed a 3,000-square-foot build-out of the Zeller Realty office at 11611 N. Meridian St., Suite 120, Carmel.
-Capitol Construction Services has completed an 11,400-square-foot build-out for G & S Research at 3950 Priority Way South.-Capitol Construction Services has completed a 4,000-square-foot build-out of a King David’s Dogs restaurant at 135 N. Pennsylvania St.
Waiting for construction industry to recover
The recession officially ended more than two years ago. But the number of local construction jobs is still down 27 percent from 2007 levels. Will the industry ever feel relief? Some segments might not recover in a big way until 2013.
DINING: Drive-by Carmel newcomer worth a stop
Second in a month-long series of “en route” restaurants. This week: J. Razzo’s.
Anderson, Indianapolis firms produce computer-pioneer documentary
The Heartland Film Festival entry looks at the life of the late Ken Olsen, who founded Massachusetts-based Digital Equipment Corp.
NBA scraps first two weeks of regular season
Team owners and players were unable to reach a new labor deal Monday and end the lockout. The cancellation includes all games scheduled to be played through Nov. 14. The first seven games on the Indiana Pacers’ schedule will be lost.
Two found dead in Carmel shooting
Carmel police are investigating the shooting deaths of a woman and her ex-husband, found dead on Tuesday morning in a townhouse after one of the woman’s two children called 911. Police arrived at the home, located in the Traditions on the Monon development at 136th Street and Rangeline Road, around 6:50 a.m. after receiving a call from the woman’s 14-year-old son. Both children were in the home when they heard the couple arguing, and left after hearing shots. Police said it was too early to determine if one of the gunshots was self-inflicted.
Maregatti Interiors acquired by HKS architectural firm
Indianapolis’ largest commercial interior design business has been purchased by the national architecture firm that designed Lucas Oil Stadium.
Deficit committee could bite CNO
Medicare supplement policies are reportedly one of the targets of Congress’ special deficit-reduction committee—and that’s not good news for Carmel-based CNO Financial Group Inc.