Headlines - Inside INdiana Business with Gerry Dick

Sports Complex Planned For NW Indiana

Mon, 9 Nov 2009 01:37:59 GMT

A Valparaiso sports training firm has unveiled plans to building a $59 million development in Hobart. The Post Tribune reports Catalyst Sports Performance is partnering with Louisville-based Schulte Hospitality Group on the project, which is expected to include a 180-room hotel, 24,000 square foot meeting center and a 132,000 square feet of athletic space.

Indianapolis Insurance Firm Acquired

Mon, 9 Nov 2009 00:25:18 GMT

Indianapolis-based Geneva Insurance Company Inc. is being purchased by an Arizona firm. The acquisition by Trillium Management Services Inc. is expected to be finalized in December. Geneva was formed in 1999. It offers personal automobile insurance through a network of independent agencies.

Waldenbooks to Close Indiana Stores

Mon, 9 Nov 2009 00:03:56 GMT

Michigan-based Borders Group has announced plans to close 200 Waldenbooks stores next year, including five locations in Indiana. The retailer expects to operate 130 mall stores nationwide after the January shutdowns are completed. Affected stores in Indiana are located in Mounds Mall in Anderson, Concord Mall in Elkhart, Greenwood Park Mall in Greenwood, Five Points Mall in Marion and Richmond Square in Richmond.

Democrats Support Spending Reductions

Sat, 7 Nov 2009 00:12:23 GMT

A key Democrat in Indiana believes Governor Mitch Daniels is doing the right thing by ordering more spending cuts as the state deals with declining revenue. House Speaker Pat Bauer (D-6) hopes the governor does not cut education in the future. Our partners at WIBC/Network Indiana report Bauer has told House Democrats any bill next year that would cost the state money will not get a hearing

Beckman Coulter Expands Indianapolis Operations

Fri, 6 Nov 2009 23:36:23 GMT

A biomedical test equipment manufacturer is undertaking a second major expansion in Indianapolis in as many years. California-based Beckman Coulter Inc. (NYSE: BEC) says it is making a multi-million dollar investment to relocate its plastics injection molding operation to a business park on the city's northwest side. The company is also locating parts of its field service operations and product development in Indianapolis. It plans to add up to 100 jobs in Indiana.

IU to Hold Battery Research Workshop

Fri, 6 Nov 2009 19:47:16 GMT

The Indiana University Nanoscience Center in Bloomington is sponsoring a free workshop next week on advanced battery technologies. Friday's event will review current battery research and explore future directions for developing high power and high energy density batteries needed for transportation and renewable energy applications. The workshop will focus on identifying areas of mutual interest and to develop regional collaborations.

Library System Launches Energy Savings Initiative

Fri, 6 Nov 2009 19:41:06 GMT

The Indianapolis-Marion County Public Library (IMCPL) has launched a multi-year initiative to lower energy use, with the hope of reducing operating costs. The pilot project will initially focus on the organization's administrative headquarters building, where upgrades to the lighting, heating and cooling systems could save more than $964,000 over six years. Energy Solutions by JMS of Indianapolis is guaranteeing the savings and if they are not achieved the company will reimburse IMCPL for the difference.

USI Approves New Program, Construction Project

Fri, 6 Nov 2009 19:29:35 GMT

The University of Southern Indiana Board of Trustees has approved a new degree program. A Bachelor of Science degree in sport management could be offered next fall with state agency approvals. The board also directed the finance/audit committee to approve design plans, cost estimates and construction schedules for a new $16.5 million teaching theater on campus.

Senate Leadership Supports Spending Reductions

Fri, 6 Nov 2009 19:28:53 GMT

Senate President Pro Tem David Long (R-16) says the Senate will also be making cuts following a continuing decline in state revenue. The Senate will reduce overall spending by an additional 5 percent and continue a hiring freeze. He also says senators and senate employees will not receive raises in 2010. State revenues for October were $46 million below expectations.

Eiteljorg to Open Sixth Fellowship Exhibition

Fri, 6 Nov 2009 19:17:02 GMT

The Eiteljorg Museum in downtown Indianapolis is planning a ribbon-cutting next week to open the sixth round of its fellowship for Native American Fine Art. Consul General of Canada Robert Noble and officials from the city of Indianapolis are expected to attend Friday morning's ceremony. The program grants $25,000 to each of five Native American or First Nations artists.

NiSource Recognized For Green Efforts

Fri, 6 Nov 2009 17:25:35 GMT

Merrillville-based NiSource Inc. (NYSE: NI) is among the top green corporations in the country. It is fourth out of 37 U.S. utilities in Newsweek magazine's "Green Rankings" of the nation's largest corporations. The publication has measured the country's 500 biggest companies by revenue, market capitalization and number of employees and put them into 15 sectors.

Butler's Part-Time MBA Program Receives National Ranking

Fri, 6 Nov 2009 17:16:24 GMT

BusinessWeek magazine has named Butler University's part-time MBA program among the nation's best. The program is ranked eighth in the Midwest and 36th in the nation by the publication. BusinessWeek started ranking part-time MBA programs in 2007.

Daniels Announces More Spending Cuts

Fri, 6 Nov 2009 16:57:46 GMT

Indiana Governor Mitch Daniels has ordered spending cuts designed to save the state up to $400 million over its two-year budget cycle. The reductions come as total state tax collections for October came in $46 million lower than forecast. It is the fourth consecutive month revenues have been below projections. Daniels says all state agencies will reduce spending by at least 10 percent, reimbursements to some Medicaid providers will be reduced and state employees will not have pay increases for fiscal 2010.

Gibson County to Explore Education Exchange in Japan

Fri, 6 Nov 2009 16:48:43 GMT

A delegation from Gibson County will leave for Japan Monday as part of the Friendship City program. The Gibson County Economic Development Corporation is spearheading an effort to send two students and one teacher to visit Tahara City in May. The group will also discuss sending a teacher to Japan for two years to teach English and having a Tahara City teacher in Gibson County to teach Japanese. The delegation will be traveling back Tahara next year to meet with several Japanese corporations.

CEO: Economy Could Face Another Crisis

Fri, 6 Nov 2009 16:31:56 GMT

As economists and business leaders assess the new figures showing the nation's unemployment rate is at 10.2 percent, its highest level since 1983, an Indiana native who heads a major online retailer is cautioning the economy could be poised for another crisis. Overstock.com Inc. (Nasdaq: OSTK) Chief Executive Officer Patrick Byrne believes problems could be brewing in the commercial real estate market, similar to the sub-prime lending rate crisis. Byrne made the comments to Inside INdiana Business during a stop this week in Indianapolis.

VU Course to Teach About Giving to Nonprofits

Fri, 6 Nov 2009 16:19:40 GMT

Valparaiso University will offer a course next spring that aims to turn students into philanthropists. "Traditions of Giving and Serving in American Life" will help participants decide how to give money to local nonprofit agencies and learn how they, in turn, use the donations. The program requires students to give at least $1,000 to a recipient they select and that all grant awards must go to tax-exempt 501(c)3 organizations.

Indiana College Towns Rank High For Affordability

Fri, 6 Nov 2009 16:18:32 GMT

Muncie ranks second in a national home price affordability index among college towns. Coldwell Banker Real Estate LLC compiles the annual rankings and the home of Ball State University is number two for the second consecutive year. Three other communities in Indiana are on the list of college towns with top division major college football programs. Bloomington is ninth, South Bend comes in 23rd and West Lafayette ranks 29th.

October State Revenues Fall $46 Million Below Estimate

Fri, 6 Nov 2009 16:04:16 GMT

The State Budget Agency reports total revenue collections for October were $46 million below the forecast amount. State tax collections were down 8.5 percent and individual income tax collections were 13 percent lower than the same period last year. The agency has also restated revenue for July, August and September.

Manchester Unveils Site For New Pharmacy School

Fri, 6 Nov 2009 15:28:28 GMT

Manchester College says it will locate its new School of Pharmacy on the Randallia campus of Parkview Health systems in central Fort Wayne. The two will transform the Fort Wayne Cardiology office building into a satellite campus in 2012. Manchester is now focused on hiring a dean, seeking accreditation for the school and raising $10 million in start-up costs.

Purdue-IU Team Wins Global Entrepreneurship Competition

Fri, 6 Nov 2009 15:08:11 GMT

A life sciences company led by a trio from Purdue and Indiana universities took the top prize at the 2009 Global Idea to Product Competition in Austin, Texas. GlucaGo LLC beat out 14 others teams from around the world and won $10,000 for developing an emergency kit that automatically mixes and injects medication for diabetics. The Purdue-IU team created the technology as part of Purdue's Biomedship entrepreneurship program, established a limited liability company and has licensed the technology from Purdue's Office of Technology Commercialization.

Brightpoint Names New Overseas Controller

Fri, 6 Nov 2009 14:42:53 GMT

Indianapolis-based Brightpoint Inc. (Nasdaq:CELL) has promoted Ryan Willman to controller of its operations in Europe, Middle East and Africa (EMEA). He will be based at Brightpoint's EMEA regional headquarters in Barcelona, Spain. Willman joined the company four years ago as the SEC reporting and compliance manager and was promoted to director of finance in November 2006.

TV: Next on Inside INdiana Business

Fri, 6 Nov 2009 12:32:02 GMT

Gerry Dick and his team of reporters have been following the Indiana business news important to you. Here's a preview of what you will find this weekend on Inside INdiana Business.

Life Sciences Company to Make Jobs Announcement

Fri, 6 Nov 2009 12:19:07 GMT

A life sciences firm is bringing jobs to central Indiana. Governor Mitch Daniels and Indianapolis Mayor Greg Ballard will join executives from an unidentified company for an economic development announcement this afternoon.

Angie's List Announces Expansion

Fri, 6 Nov 2009 12:06:08 GMT

Indianapolis-based Angie's List has announced it will be providing consumer reviews on custom and classic car specialists. The new division will offer service ratings in more than 100 categories. Auto restoration is the second niche service added to Angie’s List in the past two years. Earlier this year, the company added health care services with 50 categories.

Daniels Issues Warning About State Revenue

Fri, 6 Nov 2009 04:16:37 GMT

Indiana's revenue numbers for October are expected to be lower than anticipated. The figures are being released Friday, but Governor Mitch Daniels set the stage for the fourth consecutive month of revenue coming in below projections during an appearance Thursday in West Lafayette. He told the audience "unwelcome and unpleasant choices" including job or service cuts could become necessary.