Judge lays into Durham, sentences him to 50 years
Tim Durham, the Indianapolis businessman who used to dream of becoming the world’s richest man, ended 2012 broke and facing a 50-year prison sentence for orchestrating a $250 million Ponzi scheme.
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Developers unleash blitz of apartment projects
Construction began or was to begin soon on dozens of projects with thousands of units, most quite upscale and aimed at one of two growing segments of the population who increasingly see no stigma in renting: aging boomers and young families.
Indiana adopts right to work
Indiana in February became the first state in a decade to pass such a law, and it was all the more significant because of the state’s heavy concentration of manufacturing jobs and sizable union presence.
WellPoint investors force Braly ouster
Braly’s five-year tenure leading the Indianapolis-based health insurer was hurt by the recession but also by repeated missteps.
Bernard bounced as IndyCar Series CEO
The ouster of Randy Bernard as IndyCar CEO led to new leadership for Hulman & Co., parent of the series and the Indianapolis Motor Speedway.
ISO reaches new contract, launches fundraising spree
Negotiations over musicians’ contracts hit a crescendo in September with a month-long lockout that ended when performers agreed to a shorter schedule to save money at the cash-strapped Indianapolis Symphony Orchestra.
In election shocker, voters bounce schools chief Bennett
After becoming a celebrity in national education reform for spearheading sweeping changes in Indiana’s schools, Tony Bennett was bounced out of office by strong opposition from teachers, parents and their friends.
City projects move ahead, following clash over TIF
Mayor Greg Ballard charged forward on government-supported downtown development efforts after successfully shepherding an expansion of a TIF district over Democratic opposition.
Indy airport sends CEO Clark packing
Mayor Greg Ballard apparently was unhappy with the pace of economic development at the airport under Clark. The CEO’s extensive overseas travels also generated controversy.
Digital marketer ExactTarget splashed onto NYSE
After an aborted attempt to go public in 2007, marketing software giant ExactTarget rang the bell on the New York Stock Exchange last March in an IPO that raised $162 million.
RACE: Here’s how we can design our way to prosperity by 2040
If we do not think about whom we are designing the Indianapolis region for, we will, by default, turn design decisions over to speculators and partisans.
Decline in fitness club memberships pushes NIFS into arms of seniors
Health club on campus of IUPUI makes up for lost revenue by managing fitness and wellness programs for retirement communities.
Lucas Oil might host 2016 Olympic Swimming Trials
A local group led by the Indiana Sports Corp. is bidding to bring the U.S. Olympic Swimming Trials to Indianapolis for the fifth time. But the event wouldn’t be in the 4,200-seat IUPUI Natatorium. Instead, officials want to host the 2016 trials in 63,000-seat Lucas Oil Stadium.
Big drug deals expected to return in 2013
Pharmaceutical companies including Pfizer Inc., Bristol-Myers Squibb Co. and Eli Lilly and Co. could be ready to start making major acquisitions again.
Company news
Indianapolis-based Eli Lilly and Co. and Germany-based Boehringer Ingelheim GmbH got good news from their Phase 3 trial of a new drug for patients with Type 2 diabetes, and said they plan to file for its market approval later this year. The drug, called empagliflozin, lowered diabetics’ levels of hemoglobin—a measure of blood sugar—more than a placebo. How the new drug will compare against similar drugs, called sodium glucose co-transporter-2 inhibitors, remains unclear. Lilly competitors Johnson & Johnson, Bristol-Myers Squibb Co. and AstraZeneca plc are racing to bring the new class of drugs to market. But Lilly and Boehringer officials said they are pleased enough with the results to file for a launch this year, according to a statement released Monday by Lilly. "We are pleased with the results for these Phase III clinical trials for empagliflozin," Enrique Conterno, president of Lilly's diabetes division, said in a prepared statement. "Diabetes is growing at a tremendous rate across the world. Patients and their physicians need more treatment options in order to help improve their blood sugar levels and reach their treatment goals." Also, Lilly and Boehringer Ingelheim announced that Lilly will re-assume exclusive development rights to a once-a-day insulin it calls LY2605541. That drug, as well as empagliflozin, were part of a co-development agreement Lilly and Boehringer signed in January 2011. Lilly unveiled a better-than-expected 2013 earnings forecast Friday, which sent its stock up by nearly 4 percent that day. The drugmaker forecast 2013 adjusted earnings of between $3.75 and $3.90 per share. Wall Street analysts were expecting 2013 earnings of $3.73 per share, according to a survey by FactSet.
The physician arm of Indianapolis-based hospital system Community Health Network took over cardiovascular services at Community Westview Hospital, displacing The Care Group LLC, on Jan. 1. Community Physician Network will now provide all specialty heart care at the 67-bed hospital at West 38th Street and North Guion Road. Community Health Network absorbed Westview in June 2011, securing a presence on the west side of Indianapolis to accompany its existing hospitals on the southern, eastern and northern sides of the metro area. The Care Group, one of the city’s largest physician practices, was acquired by Indianapolis-based hospital system St. Vincent Health in 2010. Community and St. Vincent are now working together to sign contracts with employers and health insurers in what they call an affordable care consortium.
A building on the northwest side of Indianapolis is the target of a foreclosure claiming that owner Women’s Physician Group LLP has defaulted on a $9 million loan. The lawsuit, filed Dec. 13 by U.S. Bank, claims that the physicians' group received the loan in April 2007 and stopped payment in August 2012, owing $8.7 million in principal. Including penalties and fees, though, U.S. Bank is seeking nearly $10.5 million, according to the suit. The 33,617-square-foot building at 8081 Township Line Road is completely occupied, according to the website of Cornerstone Companies Inc., the building’s broker. A representative of the physician group could not be reached for comment.
People
Dr. Larry Micon, a general surgeon, has joined St. Vincent Medical Center Northeast in Fishers. He holds a bachelor’s degree in biology from Indiana University in Bloomington and completed his medical degree at Indiana University School of Medicine in Indianapolis. Prior to joining St. Vincent, Micon served as director of surgical education at IU Health Methodist Hospital.
Community Physician Network has hired Dr. Josephine Bongiovanni, an internal medicine physician. She earned her medical degree at the University of Bologna Medical School in Italy. Her office is in Noblesville.
Dr. Thomas Howard, a specialist in liver, pancreas and gallbladder diseases, has joined Community Physician Network in Indianapolis. He earned his medical degree at the University of Oklahoma. He has been a professor at the Indiana University School of Medicine and a physician at the IU Melvin and Bren Simon Cancer Center.
Community Physician Network has Dr. Carl Pafford, a family medicine physician, in Fishers. He received his bachelor’s degree at Purdue University and completed his medical education at Indiana University School of Medicine. Pafford previously practiced family and emergency medicine in Tipton.
Dr. Matthew Rendel, a neurosurgeon, has joined Community Physician Network. He holds a medical degree from the Indiana University School of Medicine. Rendel provides care at Community Hospital South and Johnson Memorial Hospital in Franklin.
Community Physician Network has added Dr. Xian-Feng Zhu, an internal medicine physician, in Indianapolis. He completed his medical degree at Zhejiang Medical University in China. Before coming to Community, he practiced for seven years as a general internist in Marshalltown, Iowa.
Spotlight falls on IU Health for flu shot firings
Indiana University Health got national attention last week for its decision to dismiss eight employees for refusing to get a flu vaccination. The Indianapolis-based hospital system fired three nurses and five other employees from its IU Health Goshen Hospital.
Fiscal cliff deal threatens Indiana co-op health plan
Last week’s fiscal cliff bargain in Congress dealt a potentially fatal blow to a new health insurance plan, called Remedy Indiana, that was set to launch this year.
Lawmakers eye workforce development in new session
Indiana's General Assembly jumped to a quick start Monday with promises from Republican leaders to focus on workforce development and a request from Democrats to place a moratorium on divisive social issues for the next two years.