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Articles

Ex-Lt. Gov. Skillman joins Old National board

June 27, 2013

Evansville-based Old National Corp. will pay Gov. Mitch Daniels’ sidekick Becky Skillman $70,000 a year in a combination of cash and stock to serve as a director.

Indy 500 ticket renewals up despite price hike

June 27, 2013

Indianapolis Motor Speedway officials say they’ve seen no adverse sales impact from a risky move to raise ticket prices for the 2014 Indianapolis 500 by about 15 percent—the first price increase in almost a decade.

David and Marilyn Shank are survivors in PR industry

June 27, 2013

Over the last quarter century, the husband-wife duo has outlived a number of bigger and slicker competitors, even as the Great Recession decimated some bigger PR and advertising shops.

Records – July 1, 2013

June 27, 2013

Records listings from the July 1, 2013, issue of IBJ.

Out-of-the-way club caters to members’ need for speed

June 27, 2013

Successful professionals that double as weekend race warriors and gear heads are drawn to a racetrack and club on the edge of the middle of nowhere by their love of cars and need for speed.

New rules taking effect despite Pence moratorium

June 29, 2013

Dozens of new rules and regulations have been implemented in Indiana in recent months despite an executive order Gov. Mike Pence signed on his first day in office.

Moreno, Minnelli and more highlight Palladium gala

June 30, 2013

Frank Sinatra and Jimmy Webb also honored as inductees into Michael Feinstein’s Great American Songbook Hall of Fame.

IU’s Crean praised, criticized following NBA draft

July 1, 2013

Having two players selected in the top four of last week's NBA draft will only bolster IU Coach Tom Crean's recruiting efforts. But some IU alums are asking how a team with two such players got knocked out of the Sweet Sixteen.

Company news

July 1, 2013

The federal government is set to decide this month whether the federal Medicare program should pay for a $3,000 test that for the first time accurately identifies the signature brain plaques of Alzheimer’s disease, according to Bloomberg News. The test, approved last year by U.S. regulators, uses Eli Lilly and Co.’s Amyvid imaging agent to trace the brain protein amyloid. Alzheimer’s disease affects 5 million Americans, a number that patient advocates say could double by 2050. But the test is controversial because there are no available treatments that even slow the progression of Alzheimer’s disease. A final decision from the federal Centers for Medicare & Medicaid Services will come July 9. While a negative decision would limit use of the tests, approval would probably lead to coverage from private health insurers, too.

Nyhart Actuary & Employee Benefits plans to expand its Indianapolis headquarters and create as many as 25 jobs here by 2017. The firm will invest $840,000 to lease and equip an additional 8,000 square feet of office space, according to Nyhart CEO Thomas Toten. Nyhart currently is negotiating an expansion of the 20,000 square feet it leases at 8415 Allison Pointe Blvd. in the Castleton area. Nyhart currently has 68 full-time employees in Indianapolis and about another 30 across five other states. The firm already has started hiring additional actuaries, administrators and benefit consultants from college programs for its Indianapolis expansion. Founded in 1943, Nyhart provides consulting services to more than 1,000 public and private companies in 48 states on issues such as pensions, retirement benefits, compensation and other employee benefits. Nyhart has been in growth mode lately. In August, Nyhart acquired San Diego-based The Epler Co., a regional actuarial, employee benefits and compensation strategies firm.

Lilly Endowment Inc. will give $10 million to help start the Indiana Biosciences Institute. The institute is already due to receive $25 million in startup funds from the state. The institute aims to attract 100 new scientists to Indiana to conduct research and development work aimed at launching new therapies for metabolic diseases. The effort has been spearheaded by BioCrossroads, an Indianapolis-based life sciences organization, and has received significant support from Gov. Mike Pence and John Lechleiter, the CEO of Eli Lilly and Co. The institute needs to raise $15 million over the next year or so to fully fund its startup efforts. Beyond that, the institute hopes to raise an endowment of $310 million to help fund its operations. It also hopes its researchers attract steady grants from life sciences research companies, such as Indianapolis-based Lilly and Bloomington-based Cook Group Inc.

Eli Lilly and Co. won a United Kingdom patent lawsuit against a Johnson & Johnson unit over a potential treatment for Alzheimer’s disease, according to Bloomberg News. A patent held by J&J’s Janssen Alzheimer Immunotherapy Research & Development unit isn’t valid, Judge Richard Arnold said in a ruling in London on June 25. Both companies are developing treatments targeting the buildup of plaque in patients’ brains that’s linked to the condition. Companies developing the first treatments for Alzheimer’s are competing for what might be a $20 billion market, according to a report last year by Deutsche Bank AG analysts.

The head of the state Family and Social Services Administration said the federal government is expected to approve an extension of the Healthy Indiana Plan, but a request to use the plan for an Indiana Medicaid expansion could take much longer. According to the Associated Press, FSSA Secretary Debra Minott said Gov. Mike Pence directed her and others to ensure those already enrolled in HIP are secure before negotiating an expansion through the program. Roughly 40,000 low-income residents are enrolled in the program, which operates under a federal waiver. But the waiver is set to expire at the end of the year, potentially leaving enrollees without coverage. Pence resubmitted an application with the Centers for Medicare and Medicaid Services in April seeking to use the state's hybrid health savings account plan as the vehicle for Medicaid expansion. CMS rejected an earlier request from former Gov. Mitch Daniels, citing concerns about the premium paid by members and a need for improved coverage. The expansion would cover residents earning up to 138 percent of the federal poverty level, using new funds authorized by Obamacare.

Fairgrounds becoming running Mecca for races, fundraisers

July 2, 2013

What started with a call out of the blue last year has turned into a six-figure revenue stream for the Indiana State Fairgrounds. And that revenue stream could get a lot bigger.

Universities’ patents often lack commercial applications

July 2, 2013

The state's universities crank out patents that find their way to pharmaceutical, prosthetics and surgery technology companies. But they also generate reams of patents in areas with few industrial applications.

Firm uses ‘causality’ to improve Internet searches

July 2, 2013

Allegient LLC and subcontracted IUPUI informatics experts wrote algorithms that go beyond word searches to look for “causality”—relationships between words suggesting one thing caused another.

Ingersoll-Rand’s spin-off plan may give boost to area

July 3, 2013

Irish industrial conglomerate Ingersoll-Rand Plc is poised to spin off its security operations late this year into Allegion—which will have its North American headquarters and most of its executive team in Carmel.

BENNER: Victory Field hits baseball sweet spot for fans, old cronies

July 3, 2013

The Vic, which opened in 1996, looks as nice as it did on opening night.

Hostess set to resume full production in Indy

July 3, 2013

Hostess Brands LLC wants to have its Indianapolis plant in full production by the end of next week, an executive said Wednesday. The company received a tax incentive agreement worth $536,000 from the city on Wednesday.

MAURER: Community leadership is legitimate source of civic pride

July 3, 2013

Unlike public safety and education, this is a city asset we have in abundance.

Salesforce entices ExactTarget execs with $20M in awards

July 3, 2013

Salesforce.com has extended job offers to ExactTarget Inc.'s top brass—and sweetened the pot by dangling awards of restricted stock topping $20 million.

Citizens Energy quizzed on exec pay levels

July 3, 2013

Citizens Energy Group has enjoyed a certain amount of public good will over the last 125 years as a not-for-profit, charitable trust. But rising incentive pay to the trust’s top brass recently has conjured up images of an investor-owned utility—and the scrutiny of regulators.

Anderson woman churning out dog chews made from elk antlers

July 3, 2013

Cindy Dunston Quirk spent a decade coming up with an allergy-free dog chew idea, then, within two weeks of deciding on elk antlers, had a product packaged and ready to sell.

Stevens leaving Butler for job as Celtics coach

July 3, 2013

Brad Stevens has spent six years as head basketball coach of Butler, leading the Bulldogs to back-to-back national championship games. The Celtics gave Stevens a six-year deal worth about $22 million, a source said.

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