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Articles
Firms ladle trips, car allowances on top of rich pay packages
Senior executives at Indiana's public companies last year received, on average, more in perks than the typical Hoosier earned all year, IBJ found after reviewing Securities and Exchange Commission documents for more than 60 Indiana companies.
Report: Roche mulls sale of blood-glucose monitor business
Roche Diagnostics Corp. is considering a sale of its blood-glucose meter business, a move that would cast uncertainty over the nearly 1,000 people working for its diabetes business in Indianapolis.
Herff Jones acquisition to form $1B company
Dallas-based BSN Sports will join the Herff Jones portfolio of companies and continue to operate as its own branded entity. Combined annual revenue is expected to top $1 billion.
Mobile health apps could cut into state companies’ market share
The future of Indiana’s sprawling health care and life sciences industry might be threatened by an unlikely source: smartphone apps.
Developer of Star building dubs project Pulliam Square
The buyer of the Indianapolis Star building has tapped into the newspaper's rich history by naming a mixed-use development to be built on the property Pulliam Square. Eugene C. Pulliam bought the newspaper in 1944 and his family led it for more than 50 years.
Company news
In a case that could have affected Dow AgroSciences LLC and companies developing biotech drugs, the U.S. Supreme Court sustained St. Louis-based Monsanto Co.'s claim that an Indiana farmer violated the company's patents on soybean seeds that are resistant to its weed killer. The justices, in a unanimous vote Monday, rejected farmer Vernon Hugh Bowman’s argument that cheap soybeans he bought from a grain elevator are not covered by the Monsanto patents, even though most of them also were genetically modified to resist the company's Roundup herbicide. Justice Elena Kagan said a farmer who buys patented seeds must have the patent holder's permission. Monsanto has a policy to protect its investment in seed development that prohibits farmers from saving or reusing the seeds once the crop is grown. Farmers must buy new seeds every year. The case had been closely watched by researchers and businesses holding patents on DNA molecules, nanotechnologies and other self-replicating technologies. But Kagan said the court's holding only "addresses the situation before us."
Warner Transitional Services LLC, a 10-month-old company that provides services to adults with developmental disabilities, plans to cease operations this summer, putting 112 employees out of work. The Indianapolis-based firm plans to terminate employment for 102 of its employees on June 7. The other 10 will remain with the company for less than another month to help wind down operations. Warner relies on funds from the Indiana Family and Social Administration, but FSSA recently decided to end that funding after numerous complaints against the company went unresolved. More than half of the employees affected are direct care professionals, a title usually held by nursing assistants or personal care aides. Warner is a subsidiary of Oconomowoc, Wis.-based Oconomowoc Residential Programs Inc., which operates several therapeutic, residential and in-home services businesses in the Midwest.
John Lechleiter temporarily relinquished the reins of Eli Lilly and Co. on Monday while he undergoes and recovers from cardiovascular surgery. Derica Rice, Lilly’s chief financial officer, will become acting CEO in Lechleiter’s absence. And Ellen Marram, lead independent director on Lilly’s board of directors, will be acting chairman. Lechleiter, 59, has been suffering from a dilated aorta, which is a swelling that can cause a rupture and bleeding in the main artery that carries blood from the heart. The company said the problem was discovered during unrelated testing and has not produced visible symptoms. Lechleiter will undergo a procedure in Indianapolis in which a portion of his aorta will be removed and replaced with a graft, said Lilly spokesman Ed Sagebiel. He will be recuperating for months, but is expected to return to the company “later this summer,” depending on the pace of his recovery. Rice, 48, has been Lilly’s CFO since 2006 and executive vice president of global services since 2010. He is the highest-ranking African-American executive at Lilly.
Former WellPoint Inc. CEO Angela Braly has been named by Gov. Mike Pence to serve as a board member of the Indiana Economic Development Corp. The appointment is the first high-profile post that Braly, 51, has accepted since she was ousted from the top spot at the Indianapolis-based health insurer in August. Braly’s tenure leading WellPoint was rocky, in part because WellPoint was painted by President Obama’s administration as the poster child of health insurance abuses during the lengthy debate of the president’s health reform law. Financial and operational missteps ultimately led investors to demand Braly’s ouster last summer. In February, WellPoint hired Joe Swedish, a longtime hospital executive, to replace Braly. WellPoint is Indiana's largest public company, ranking No. 47 on the new Fortune 500 list.
High court rules against Indiana farmer in patent case
The Supreme Court has sustained Monsanto Co.'s claim that an Indiana farmer violated the company's patents on soybean seeds that are resistant to its weed-killer.
Biosciences institute aims for $300M endowment
The effort to launch the Indiana Biosciences Research Institute got $25 million from the Legislature, but the life sciences institutions backing the effort have set their funding sights much higher.
ALTOM: The closing words in most emails aren’t worth the trouble
Electronic communication isn’t the same as a hand-written letter, so traditional sign-offs don’t usually work.
ISO editorial unfounded
I am surprised to find the IBJ [April 22 editorial] calling something bad business without having done any real research to find out if the action it scorns is really bad business.
WEINZAPFEL: Big challenges make political science as apt as ever
If we want to know how to find and agree on solutions to the challenges of the day and how to get them implemented, the study of political science is incredibly important.
SHELLA: Bombings leave us with new realities
The Boston Marathon bombing is a tragedy that hit close to home. It will continue to hit close to home.
GARRISON: No, terrorism really is an Islam problem
When U.S. Army Major Nidal Malik Hasan waded through a room full of fellow soldiers, gunning down a score or more and murdering 13, he was heard continually yelling "Allahu Akbar"—a close translation of which is something like, "Allah is great."
MASSON: The irrationality of welfare drug testing
House Bill 1483, which required drug tests for recipients of public assistance, passed the House 78-17 and the Senate 38-12, but failed at the 11th hour in conference committee. However, given the level of support, it can be expected to return in future sessions.
BIRGE: Building a state of innovation
Are entrepreneurs born or made? As a corporate finance attorney who spends most of his waking hours with leaders of high-growth businesses, I’ve observed that entrepreneurs have certain shared traits: ambition, dynamism, curiosity and confidence.
Lilly suing J&J for patent rights in Alzheimer’s drug race
Eli Lilly and Co. is seeking to revoke a patent held by a Johnson & Johnson unit, arguing at a London court it might delay availability of a potential treatment for Alzheimer’s disease.
WTHR exec accused of discrimination lands new gig
WTHR’s John Cardenas, who was recently accused of sexual discrimination by his former executive assistant, has been named vice president of news for Dispatch Broadcast Group, the station’s parent company.
More Hoosiers favor legal pot than Pence’s tax cut, poll says
A new poll of 600 voters by Howey Politics Indiana shows 39-percent approval for Gov. Mike Pence’s proposed 10-percent tax cut. But 56 percent said they favor decriminalization of marijuana.