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Articles
Sign-company owner builds full-service firm on trust
Beverly Miller has built a successful sign company by providing clients full service, from helping them navigate city code regulations, to designing, manufacturing, installing and servicing their signs.
LEADING QUESTIONS: Sales training guru takes own advice
What lessons in salesmanship and humility did Paul Lushin learn as an Indianapolis police officer? What common mistakes do managers make? When should they give employees the reins?New York orders WellPoint to make refunds for overcharges
WellPoint is among 11 insurers ordered to refund money to almost 600,000 New Yorkers who were charged too much for health insurance.
Outsider appeal, moderate stance helped Ballard win
Mayor Greg Ballard maintained an appeal as a political outsider and moderate Republican that drew enough Democratic support to secure him a second term Tuesday, experts said.
EnerDel parent dismantles executive team
Ener1 Inc., the struggling parent company of Indianapolis-based advanced-battery maker EnerDel, continued its tumultuous year by naming a new CEO, president and chief financial officer.
Mayoral roundup: Republicans dominate elections
A Republican Party tally gives the GOP a 61-54 majority over Democrats among the state's mayor's offices — a shift from a 68-48 Democratic lead.
New Indiana commerce chief focuses on small companies
The new head of the Indiana Economic Development Corp. says the agency is turning its focus to smaller companies and getting them to relocate to the state so they can build their roots.
Central Indiana cities hope for lift from Super Bowl
Hotel operators in Kokomo and Muncie are among those who’ve seen signs the game in Indianapolis will improve their business.
Company news
Witham Health Services is constructing a clinic in Lebanon to house a satellite branch of the Indiana University Eugene and Marilyn Glick Eye Institute. The 4,000-square-foot facility, to open in January, will offer a range of vision care, including eye exams, fittings for new glasses and contacts, as well as cataract surgeries. The clinic primarily will be staffed by Dr. Daniel Spitzberg and Dr. Melanie Pickett, both professors at the IU School of Medicine’s department of ophthalmology. They initially will see patients several days a week, but hope to gradually increase to offer daily service. “We believe that receiving treatment close to home has a significant impact on the overall health of a patient—and this will help bolster that,” said Ray Ingham, CEO of Witham Health Services.
The British Supreme Court ruled in favor of Maryland-based Human Genome Sciences Inc. in its dispute with Indianapolis-based Eli Lilly and Co. over the validity of a patent for a gene sequence that could be used to treat people with autoimmune diseases. Lilly has made autoimmune diseases one of its key areas of research. Lilly had persuaded a U.K. judge in a previous hearing to revoke the patent on the basis that Human Genome’s list of potential uses for the gene was too vague. The court decision affects patent rights in the United Kingdom, but necessarily throughout Europe. Lilly maintains the patent is invalid and is “exploring available avenues to make its case,” the company told Bloomberg News in a Nov. 2 e-mailed statement. “Human Genome Sciences seek to foreclose a whole area of research in a way that is not only harmful to the industry, but would ultimately and unjustifiably hinder the future development of new medicines,” it said.
The Indiana Alzheimer Disease Center at the Indiana University School of Medicine will get $9.1 million over the next five years from the National Institutes of Health. The funds mark the fifth consecutive five-year grant the Alzheimer Disease Center has received from NIH to support research to understand the causes and potential treatments for Alzheimer’s and other forms of dementia. It is the center's largest grant to date. The IU center is one of 29 similar centers around the country funded by the NIH. Alzheimer’s and other dementias afflicted 36 million people worldwide in 2010. That number could triple in the next four decades as the size of the world’s elderly population surges, according to a report from Alzheimer’s Disease International. Scientists are unsure what causes Alzheimer’s and there is no effective treatment.
SKARBECK: Bankruptcy shows how far financial system has to go
The failure of brokerage MF Global—the eighth-largest bankruptcy in U.S. history—is troubling: It demonstrates that behavior and incentives have not really changed in some corners of our financial system, and that regulators are still behind the curve.
KENNEDY: A cautionary tale about politics and policy
The Litebox story makes a bigger point … about the entire policy of cities “buying” jobs by offering financial incentives to companies that promise to move and/or expand.
Catastrophes deliver more losses to Baldwin & Lyons
The auto and trucking fleet insurer lost $13 million, or 87 cents per share in the three months ended Sept. 30, compared with profit of $9.2 million, or 62 cents per share, in the same period a year earlier.
“Rodgers and Hammerstein at the Movies”
Nov. 4-5
Hilbert Circle Theatre
Nov. 6
Palladium
I’d argue that “The Sound of Music” is the rare instance when the movie is better than the stage musical. I’d also argue that just about every other Rodgers and Hammerstein adaptation—OK, except maybe “The King and I”—diminishes rather than elevates the original.
Still the R&H cannon has launched some memorable movie moments. And the scores, in any form, transcend. For this concert, the ISO will be playing the orchestral music of key Rodgers and Hammerstein songs carefully synced to screened scenes. For details, click here or here.
New apartments in 2012 on track for a 25-year high
A survey of developers suggests up to 3,438 new units could hit the rental market next year, which would be the highest total since 1987, when central Indiana gained about 4,500 units.
2011 WOMAN OF INFLUENCE: Marsha Stone
As CFO of the Indianapolis Airport Authority, she led the financing for the new terminal and is shaping local economic development by attempting to increase nonstop flights into Indianapolis.
2011 WOMAN OF INFLUENCE: Ann Lathrop
The first woman head of the Capital Improvement Board took over at a critical juncture. Nearly two years into the job, she has succeeded in avoiding a potential $47 million deficit and signing a three-year deal with the Pacers to remain at Conseco Fieldhouse. Next up: Super Bowl XLVI.
2011 WOMAN OF INFLUENCE: Angela D. Adams
As one of the city’s top immigration attorneys, Angela D. Adams is at the center of the debate on reform.
Company news
What a difference a decade makes. Ten years ago, Eli Lilly and Co. stationed trucks filled with Xigris packages around the country, ready to rush supplies of the severe sepsis medicine to hospitals as soon as it won market approval from the U.S. Food and Drug Administration. With the company having lost patent protection on its bestseller Prozac earlier that year, Lilly was desperate to get a new drug on the market. And Xigris, perceived as a breakthrough in a completely unserved market, was thought to be the ticket. Analysts thought the drug would generate as much as $2 billion per year in sales. But last week, Lilly announced it would pull Xigris from the market after a new study showed the drug failed to reduce mortality in patients. In between, Xigris never lived up to its hype. The FDA approved it for a narrower use, limiting its sales. Xigris generated $104 million in revenue last year. In May, Lilly licensed U.S. marketing rights for Xigris to a start-up company, BioCritica Inc.
WellPoint Inc.’s challenge of rate-increase reductions by insurance regulators in Maine will soon reach that state’s highest court—and could have ramifications across the country, according to a report by Kaiser Health News and the Washington Post. WellPoint’s subsidiary, Anthem Health Plans of Maine, will argue Nov. 10 before the Maine Supreme Court that the premium rate increases approved by Maine regulators were "inadequate," because they reduced its built-in profit margin of 3 percent to zero in 2009, 0.5 percent in 2010 and 1 percent this year. If the court sides with WellPoint, the decision "has the potential to destabilize a key aspect of insurance regulation and will have far reaching effects impacting all states,” according to a brief filed in support of the Maine regulators by the National Association of Insurance Commissioners. And if WellPoint loses, it could encourage regulators in other states to make similarly aggressive rate reductions. WellPoint also sees national ramifications. The company is spreading the cost of the litigation to policyholders outside of Maine because the outcome could have "a big impact on the industry and not just Anthem," a company official testified during a hearing in April.
Purdue and Indiana universities will share a National Institutes of Health grant to launch a cancer advocacy network and for research on applying systems-engineering principles to cancer prevention and treatment. The $500,000 grant was awarded to Purdue and IU through their joint Indiana Clinical and Translational Sciences Institute project. As part of the project, Purdue and IU staff will identify and train recruiters to get more patients enrolled in clinical trials of new cancer treatments.
Third-quarter profit fell nearly 8 percent at WellPoint Inc. but exceeded expectations of Wall Street analysts. WellPoint earned $683.2 million or $1.90 per share. Excluding investment gains, the company would have earned $1.77 per share, 3 cents higher than in the third quarter last year. Analysts were expecting $1.68 per share, excluding investment gains, according to a survey by Thomson Reuters. WellPoint’s operating revenue in the quarter rose nearly 6 percent, to $15.16 billion, narrowly topping analysts’ forecast of $15.12 billion. The company pleased analysts by adding 169,000 new members to its insurance plan during the quarter.
Indianapolis-based Dow AgroSciences on Thursday reported record third-quarter sales of $1.2 billion, up 27 percent from the same period a year ago. Earnings before interest, taxes, depreciation and amortization were $75 million in the quarter ended Sept. 30, reversing a $12 million loss through greater volume and higher prices. Dow Agro is a unit of Midland, Mich.-based Dow Chemical Co.