Banking reforms may bite weakest institutions
Indiana banks soon might have to pay the state as much as $300 million in new fees for deposit insurance at a time the industry
is experiencing its deepest woes in decades.
Indiana banks soon might have to pay the state as much as $300 million in new fees for deposit insurance at a time the industry
is experiencing its deepest woes in decades.
I am replying to the article in the March 1 IBJ where [Indianapolis Convention and Visitors Association President
Don] Welsh made his nebulous claims that Indy’s weak smoking ban hurts his ability to market the city to visitors and
convention business.
“Too little, too late” is the standard objection to the economic stimulus program now in effect. That criticism
is based on opinion, not fact. It will take several years to know whether the stimulus (or stimuli, because there was more
than a single stimulus) worked.
Much work remains before the city’s water and sewer utilities are sold to Citizens Energy Group, but the general outline
of the deal makes sense and deserves support—not political posturing—as final terms are hammered out.
Citizens Energy Group’s plan to buy the city’s water and sewer systems will require the utility to raise $262 million in new
bond debt and inherit $1.5 billion in debt. Yet Citizens executives maintain the financial load should not impair the bond
ratings of its principal utilities, Citizens Gas and Citizens Thermal.
Midwest Fashion Week Berny Martin says the 2010
event, which runs through March 20 at the Scottish Rite Cathedral, is less about the party and more about the business. Online
extra: Runway preview photo gallery.
The concept of more being better could be coming to a couple of institutions we know well.
By pounding health insurers such as WellPoint Inc., President Obama has greatly boosted his chances of success in the eyes
of Wall Street. But to make his health reform bill reality, he might need to answer the less-than-reassuring news coming from
Massachusetts.
WellPoint Inc.’s Anthem Blue Cross & Blue Shield of Connecticut may constrain competition through contracts that require
that the insurer receives hospital discounts at least as favorable as any provided to a competitor.
The U.S. Attorney’s office in Indianapolis has been without a presidentially appointed U.S. attorney for more than two years.
Joe Hogsett, a former secretary of state, is likely the frontrunner.
Not-for-profit Keep Indianapolis Beautiful has been given a $10,000 dollar grant from the Alliance for Community Trees and
the Home Depot Foundation to help with its “2,012 by 2012” tree-planting initiative. The money will help the organization
plant 2,012 trees on the near east side in time for the 2012 Super Bowl at Lucas Oil stadium. The plan is part of a bigger
goal in which the group hopes to plant 100,000 trees in the next seven years.
David Simon, the shrewd and blunt deal-maker—an acquisitive former Wall Street wunderkind who transformed Simon Property
Group Inc. into the nation’s largest mall owner—is trying to land his biggest deal yet.
Ann
Lathrop's interactions with the Indiana Pacers and Indianapolis Colts aren't what she might have envisioned as a young
college student pursuing a career in sports medicine. Now president of the city's Capital Improvement Board, her relations
with the teams are tied to their financial conditions rather than the health of their players.
Robust growth at marketing software maker Aprimo is fueling speculation it is about to make another run at going public, and
co-founder Bill Godfrey said he won’t rule out the possibility of an IPO.
Billionaire mall developer Melvin Simon wanted to leave the Jewish Federation of Greater Indianapolis $10 million, but it
could be up to his widow, Bren Simon, whether to fulfill that wish.
Wellpoint CEO Angela Braly was criticized by President Obama on national television. She incurred the wrath of health insurance
policyholders in California and Indiana. She reignited debate on the moribund national health care reform bill. A woman hasn’t
caused this much turmoil since all those ships were launched by Helen of Troy.
A full season of televised games will give franchise a platform to promote attendance at Victory Field.
Retirees re-energize legal battle against IPL, seek rehearing in Court of Appeals over post-retirement funding case that could
cost utility $100 million.
Call it California screamin.’ Indianapolis-based WellPoint Inc. continues to get a steady flow of
bad news coming from the Golden State, which is feeding problems for the health insurer in Washington, D.C. WellPoint CEO
Angela Braly gave an unapologetic defense last week before a congressional committee about her company’s 25-percent
premium hike on individual customers in California. But the next day, California Attorney General Jerry Brown subpoaned documents
from WellPoint and its insurance peers in an investigation into whether their premium increases and claims denials were illegal.
According to Bloomberg News, the investigation was undertaken in response to reports that California insurance providers deny
almost 40 percent of claims. Then on Monday, a consumer watchdog group sued WellPoint for pushing consumers to take coverage
with fewer benefits and higher deductibles, which the lawsuit says violates California law, according to the Associated Press.
On Thursday, President Obama’s top health official, Kathleen Sebelius, wants to see WellPoint and its rivals in her
office to explain their premium hikes. Heavy media attention on premium hikes in states across the country has revived Obama’s
health reform efforts, which WellPoint has opposed since last fall. The only good news for WellPoint came on Wall Street,
where investors are pleased the company is raising its prices faster than medical costs are escalating. WellPoint’s
stock price surged 6 percent last week alone.
The Indiana University Melvin and Bren Simon Cancer Center has named a replacement for former director Stephen
Williams, who died of cancer in February 2009. The center chose Dr. Patrick J. Loehrer Sr., who joined the IU faculty in 1990,
and also will serve as associate dean for cancer research and hold the title HH Gregg Professor of Oncology at the IU School
of Medicine. Loehrer is an internationally recognized researcher and specialist in testicular cancer, gastrointestinal cancer,
and thymoma. His appointment must be approved by university trustes.
Indianapolis-based PDS Biotechnology Corp. won a $1.28 million grant from the National Cancer Institute
to help it complete preclinical testing of an experimental drug aimed at curing infections and cancers caused by human papillomavirus.
The most common cancers caused by the virus are cervical, anal and head and neck cancers. PDS said 400 million people have
the virus, and no existing vaccines offer a cure.
The University of Notre Dame licensed technology developed by one of its professors to Pennsylvania-based
Molecular Targeting Technologies Inc. Financial terms of the deal were not disclosed. The technology, developed by chemistry
prof Bradley Smith, can target dead or dying cells in humans or in bacteria clusters. Such selective sensing could help researchers
see more clearly the effects of treatments on cancers or bacterial infections.