BENNER: Fixing dysfunctional NBA will take time, flexibility
Unlike the NFL, which is swimming in money, the NBA is drowning in red ink.
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STUMPP: Docs’ loss of independence driving up health care costs
The fact is that hospitals are paid three to four times for physician ancillary services.
2012 Super Bowl merchandise on sale exclusively in Indy
A wide range of Super Bowl items went on sale this month at Lucas Oil Stadium and the Colts Pro Shop in Circle Centre Mall. Indy gets a one month head start on retail sales.
Also this week
Jennie DeVoe is in the spotlight for “Devoted to Wildlife,” a benefit concert for the Indiana Wildlife Federation, July 9 at Carmel’s West Park. Details here.
After a first act of rock ’n’ roll favorites from the Indianapolis Symphony Orchestra, Christopher Cross and his band join in at this July 8-9 concert at Conner Prairie Amphitheatre. Details here.
Sade joins John Legend July 8 at Conseco Fieldhouse. Details here.
Josh Groban brings his “Straight to You” tour to Conseco Fieldhouse, July 12. Details here.
Emmylou Harris performs at the Palladium, July 13. Details here.
Singer Darrian Ford from the Broadway casts of “Smokey Joe’s Café” and The Who’s “Tommy” opens “The Cooke Book,” a musical tribute to Sam Cooke July 8-9 at the Cabaret at the Columbia Club. Details here.
Company news
Eli Lilly and Co., once the undisputed leader in the U.S. diabetes market, wants to regain its dominance by launching as many as four new diabetes drugs in the next five years, Lilly executives said during an investor meeting June 30. Lilly has lost large chunks of market share in the past decade to Denmark-based Novo Nordisk A/S and France-based Sanofi-Aventis SA. But this year, Lilly, through a partnership with Germany-based launched Boehringer Ingelheim GmbH, launched Tradjenta, a once-daily tablet that will compete with Merck & Co. Inc.’s successful Januvia but could involve fewer complications for patients with liver or kidney problems. As early as next year, Lilly could get the green light on Bydureon, a long-delayed once-weekly version of its Byetta treatment, developed with Amylin Pharmaceuticals Inc. Lilly could seek regulatory approval in 2013 for dulaglutide, a once-a-month drug similar to Bydureon. An oral drug called empagliflozin, also gained through the agreement with Boehringer Ingelheim, could launch in 2014. "Diabetes is one of the great opportunities for Lilly moving forward," Jan Lundberg, president of Lilly Research Laboratories, said in an interview with Reuters.
As part of its agreement to add Westview Hospital to its system, Community Health Network will assume $10 million in debt, spend $7.5 million on upgrades, and help open an outpatient center in Speedway, the two hospitals announced June 28. They will also look for more locations in western Indianapolis to add outpatient centers. Community and Westview first announced in November they were in talks to form a “strategic alliance.” On June 24, Westview’s board approved the merger. Westview needed to get bigger, CEO Jon Anderson said, because the 2010 health care reform law and other national trends are pushing hospitals to have some of their revenue hinge on whether they keep a specific population of patients healthy. Westview had annual revenue of $106 million in 2009, the most recent figure available. Community is more than 10 times as large, with annual revenue of $1.3 billion. From Community’s perspective, Westview helps it expand into the western portion of Indianapolis for the first time. In addition to Anderson, Community has hospitals in the southern, eastern and northeastern suburbs of Indianapolis. Community wants to make sure it has facilities accessible on all sides of the city in order to be attractive to employers who want to contract with a hospital system—either directly or through an insurer—that will take responsibility for keeping the employees healthy.
Indiana University Health is losing its chief financial officer, who has overseen the hospital system’s bulging balance sheet since 1999. Marvin Pember, 58, is taking a new job near Philadelphia as president of the acute care division of Universal Health Services Inc., a publicly traded company with 22 acute hospitals and numerous behavioral health centers spread from coast to coast. Pember’s last day at IU Health will be July 29. IU Health, an 18-hospital system based in Indianapolis, will begin a national search for his replacement immediately. Pember joined IU Health, then known as Clarian Health, when it had just three hospitals—Methodist, Indiana University Hospital and Riley Hospital for Children—all in downtown Indianapolis. Today, its hospitals stretch from LaPorte and Goshen in northern Indiana to Paoli and Bedford in the south. IU Health also has three more facilities set to join its fold by year’s end.
Marsh lands big tenant, will reoccupy headquarters
Marsh Supermarkets is reoccupying a portion of its long-vacant headquarters building and has snagged a plum tenant to sublease most of the rest of the space.
Key exec behind Indy airport expansion retires
Robert A. Duncan nudged the door closed this week on his office at the Indianapolis Airport Authority and retired after a career at the center of one of the largest, long-term civic developments in the city's history.
Transportation museum eyes excursion trains to downtown Indy
As efforts drag on to study and fund a commuter rail system using the former Nickel Plate rail line, the group now using the 37-mile corridor to run excursion trains in Hamilton County and to the Indiana State Fair is looking at running its trains farther south—to downtown.
MARCUS: Should we be offended by Times story?
Last month, The New York Times ran a story under the headline “Indiana: The Exception? Yes, but …” The story gave a factual presentation of our state’s economic circumstances, but with an overriding sarcasm that left a bad taste in Hoosier mouths.
Forum Credit Union trying to rebound from recent losses
Fishers-based Forum Credit Union was on the upswing from a sizable loss in 2008 when a slew of challenges hit late last year. Now Forum is rebuilding its earnings—and looking for a new leader to steer the company.
Who’s Who in Law – 2011
In a monthly feature that runs in the first issue of the month, through October, IBJ is identifying influential players in eight different industry categories. This month, our list draws from among the city’s finest legal minds in education, public-sector law, the judicial system and the broad swath of attorneys practicing solo and in firms of all sizes.
WellPoint spent $1.5M lobbying feds in first quarter
WellPoint Inc., the nation's largest health insurer based on membership, spent about $1.5 million lobbying the federal government in the first quarter, as the health care overhaul debuted a new restriction that concerned managed care companies.
Talent Alliance to help high schools track graduates
A nearly $79,000 grant from the Central Indiana Community Foundation will be used to help Marion County high schools track where their students go after graduation.
“Camp Rock”
July 1-16
Athenaeum
OK, so maybe Disney’s “Camp Rock”—based on the Jonas Brothers-starring Disney Channel flick—can’t hold a musical candle to “A Funny Thing Happened on the Way to the Forum,” the previous production by Bobdirex at the Athenaeum. Heck, maybe “Camp Rock” isn’t even in the league of Disney’s “High School Musical.” But since Starlite Musicals packed up many, many years ago, Indy has been hurting for summer musical fun.
While community theaters Footlite Musicals and Indianapolis Civic Theatre both offer high school and college talent opportunities to shine, Bobdirex gives some serious talent a chance to work professionally. The cast for “Camp Rock,” by the way, includes Beef & Boards regular Jessica Murphy and IU Theatre leading lady Brook Wood. Details here.
Leasing/leasing contracts
-Planet Fitness leased 15,763 square feet of retail space in Emerson Plaza, 5247 Thompson Road. The tenant was represented by Bart Jackson and Scot Courtney of Lee & Associates. The landlord, Horizon Sun/WB LLC, was represented by Jeff James of Lamar Cos.
-TIC International Corp. leased 15,391 square feet at 11590 N. Meridian St., Carmel. The landlord, Fidelity Office Building II LP, was represented by Mike Napariu of REI Real Estate Services LLC. The tenant represented itself.
-Apria Healthcare Inc. leased 9,652 square feet of office space at 11711 N. College Ave., Carmel. The tenant was represented by Jim Bowers of Corporate Realty Associates. The landlord, CFS at North College LLC, was represented by Darrin Boyd and Dave Moore of Cassidy Turley.
-Track Technology Systems Inc. leased 4,000 square feet at 6784 Hawthorn Park Drive. The tenant was represented by Fritz Kauffman of Cassidy Turley. The landlord, Hawthorn Park LLC, represented itself.
-Advantage Fluid Systems LLC leased 2,700 square feet at 8170 Zionsville Road in Park 100. The tenant was represented by Fritz Kauffman of Cassidy Turley. The landlord, ProLogis, was represented by Jason Speckman of Summit Realty Group.
-Statewide Title Company Inc. leased 2,109 square feet of office space at 6525 E. 82nd St. The tenant was represented by John Crisp of Cassidy Turley. The landlord, NRFC Castleton Park Holdings LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Restorative Specialty Group Inc. leased 2,100 square feet of office space at 9860 Westpoint Drive. The landlord, Crosspoint Partners VII LLC, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-Boogie Burger leased 1,986 square feet at 1904 Broad Ripple Ave. The tenant was represented by Catherine Esselman of Penn Real Estate Inc. The landlord, Marcus Burnell, was represented by Thomas Cortese III of Acorn Group Inc.
-Thien Phu Viatnamese Cuisine leased 1,458 square feet of retail space in the Fortune Plaza Shopping Center, 9655 U.S. Highway 36, Avon. The landlord, Fortune Plaza B LLC, was represented by Greg Smith of Colliers International. The tenant represented itself.
-Silver Moon Salon leased 1,400 square feet at Greenwood Springs, 1279 Emerson Avenue, Suite A-2, Greenwood. The tenant was represented by Shannon Hicks of CB Richard Ellis. The landlord, Regency Realty Group Inc., was represented by Keith Fried of Sitehawk Retail Real Estate.
-Indianapolis TV Sales leased 1,366 square feet of retail space in the Eagle Creek Shopping Center, 3804 N. High School Road. The landlord, Eagle Creek Shopping Center LLC, was represented by Greg Smith and Kevin Piper of Colliers International. The tenant represented itself.Owner of several properties south of Mass Ave starts to divest
The pending sale of two historic buildings and a vacant lot just south of Massachusetts Avenue is the first of what could be several deals in the area as one of its largest property owners begins to divest its holdings.
INSIDE DISH: King David Dogs nabs bigger digs
Thinking his emporium for all-beef franks has maxed out its sales potential, Brent Joseph cut a deal to relocate to an epicenter for downtown office complexes and triple seating.Q&A
Jim Alender has been CEO of Howard Regional Health System in Kokomo since 1997. He recently negotiated a letter of intent to merge the hospital with Indianapolis-based Indiana University Health. He spoke about the major factors that led to that decision, and the benefits he hopes to come from it. The deal, which still requires approval from Howard County officials, could close before the end of this year.