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The Capital Improvement Board saw revenue of $22.5 million in the first three months of the year, a jump of 28 percent compared with the same three months in 2010. More taxes generated by hotel stays and restaurant visits helped drive the increase.
‘Shrek’ and ‘Young Frankenstein’ also on 11/12 schedule
The Indianapolis-based media company said an improving economy helped it cut its losses as revenue from radio operations grew 4.3 percent. Still, the company continues to struggle with a heavy debt load.
Robyn Smart has joined Lee & Associates' retail department as a senior adviser.
Kevin Gillihan has joined the Indianapolis office of Jones Lang LaSalle as a senior associate with the firm’s office tenant representation team.
Jim Wallace has scheduled a campaign kickoff event for Tuesday afternoon at the town hall in the northern Indianapolis suburb of Fishers.
Hospital President and chief executive officer Thor Thordarson said in a news release the jobs cuts were necessary because of the higher costs facing health care providers.
A shakeup of the Bloomington, Ill., company will result in some positions being moved to Indianapolis, an Illinois newspaper reports.
On a seasonally adjusted basis, the pace of mortgage loan activity increased 4 percent for the week ended April 29, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.76 percent from 4.8 percent the previous week. The rate for 15-year mortgages decreased to 3.96 percent from 4.03 percent.
-United Suppliers Inc. leased 17,600 square feet at 923 Whitaker Road in the Airwest Business Park. The tenant was represented by Terry Busch of CB Richard Ellis. The landlord, ProLogis, was represented by Luke Wessel of Cassidy Turley.
-Beacon Technologies subleased 5,720 square feet at One Parkwood, 96th and Meridian streets. The tenant was represented by Alex Cantu of Summit Realty Group. The sublessor, Computer Associates, was represented by Adam Broderick and Denice Michel of Jones Lang LaSalle.
-eImagine Technology Group Inc. leased 4,332 square feet of office space at 6081 E. 82nd St. The tenant was represented by Jenna Barnett of Newmark Knight Frank Halakar. The landlord, BREOF Castleton Park REO LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-The ALS Association Inc. leased 2,163 square feet of office space at 6525 E. 82nd St. The tenant was represented by John Crisp of Cassidy Turley. The landlord, BREOF Castleton Park REO LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Market Street Wealth Management Advisors LLC leased 2,024 square feet of office space at 3091 E. 98th St. The tenant was represented by Brooke Augustin of Alliance Commercial Real Estate. The landlord, BREOF Keystone REO LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Tucker’s School of Real Estate leased 1,975 square feet of office space at 6515 E. 82nd St. The tenant was represented by John Crisp of Cassidy Turley. The landlord, BREOF Castleton Park REO LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley.
-Guidon Design, Inc. leased 1,952 square feet at Douglass Pointe, 2453 N. Delaware St., Indianapolis. The landlord, Minkis Construction Inc., was represented by Joe Shoemaker of MacDuff Realty Group. The tenant represented itself.
-New Harbours Café leased 1,750 square feet at Harbourtown Center at the southeast corner of Little Chicago Road and Carrigan Bridge Road at Morse Lake, Noblesville. The tenant and landlord, Harbourtown Center LLC, were represented by Bill Ernst of Charter Commercial Realty Group.
-Loving & Caring Home Inc. leased 1,560 square feet of office space at 6525 E. 82nd St. The landlord, BREOF Castleton Park REO LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.
-Speech Pathology Services PC leased 1,503 square feet of office space at 1980 E. 116th St. The landlord, Stratford Center LLC, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-The Henry P. Thompson Co. leased 1,486 square feet of office space at 6505 E. 82nd St. The landlord, BREOF Castleton Park REO LLC, was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The tenant represented itself.
-Eagle Land Title LLC leased 1,470 square feet of office space at 3500 Depauw Blvd. The tenant was represented by Bob Dominguez of Colliers International. The landlord, CP Pyramids Associates LP, was represented by Dave Moore, Darrin Boyd and Bennett Williams of Cassidy Turley.
Big Bend LLC bought a 9,600-square-foot office building at 819 E. 64th St. The price wasn’t disclosed. The buyer was represented by Bob Lindgren and Steve Beals of Lee & Associates. The seller, Crossroad Investment Group LLC, was represented by Harry Kennerk of Sperry Van Ness.
Lifeline Data Centers, which bought Eastgate in 2008, plans to invest $10 million into the property this year if the Department of Public Safety moves forward with plans to lease 78,000 square feet.
Of the 14 states where "right-to-work" bills barring mandatory union fees were considered, only New Hampshire has passed the legislation, and it is uncertain whether Republican lawmakers can overcome an expected veto by the Democratic governor.
Shelvin Mack, a junior guard who this year helped lead Butler University to its second straight appearance in the NCAA championship basketball game, is heading for the NBA. Mack said Sunday that he will leave his name available for the June 23 draft, making him ineligible to play another year for Butler. He declared himself eligible for the draft last month but did not hire an agent, which gave him the option of withdrawing his name and retaining his college eligibility until Sunday’s deadline. Mack averaged 20.3 points per game during the NCAA tournament and 16 points in the regular season.
Indianapolis police are seeking a hit-and-run driver who ran down two brothers pushing a shopping cart on West Morris Street late Saturday night. David Smith, 33, was killed and his brother, Jason Pedigo, 28, was severely injured in the incident. Pedigo, who suffered a broken hip and injuries to his neck and lung, said a woman driving a red Ford stopped and said, “I’m sorry, I’m sorry, I didn’t mean to do it,” before leaving the scene. The brothers were on their way to get beer about 11:45 p.m. when they were struck. Some witnesses said they had to swerve around the brothers because they were walking in the middle of the street, but Pedigo said they were walking on the side of the road.
Dan Burton says he plans to seek election to a 16th term next year after narrowly surviving tough Republican primary battles in his past two campaigns.
Bringing in some top American running talent, like the charismatic Ryan Hall, could make the Indianapolis 500 Festival Mini Marathon a much bigger spectator event.
Community Health Network appointed Ronald Strachan as chief information officer to fill the position left vacant by the retirement last fall of Ed Koschka. Strachan held similar roles at various health care organizations in Minnesota, Georgia, Ohio and Michigan. He has an MBA from Central Michigan University and a bachelor’s degree from Davenport University in Dearborn, Mich.
Dr. John Fleming has been named medical director of the Jane Pauley Community Health Center, a part of Community Health Network. The center, located at East 30th Street and Post Road, opened in 2009. Fleming earned his medical training and doctorate in pharmacology at Indiana University School of Medicine.
Indiana University Health named Betty Stilwell, the longtime chief of the Methodist Health Foundation, to the newly created position of chief philanthropy officer. Stilwell will spearhead philanthropic giving for the entire IU Health system, which now includes 17 hospitals statewide. Stilwell will sit on the IU Health executive team and report to CEO Dan Evans.
Indianapolis-based SonarMed Inc. added James Tyree, president of Abott Biotech Ventures Inc., as an independent director. SonarMed makes breathing tube monitoring equipment for patients on ventilators.
WellPoint Inc. named John Martie president and CEO of its national accounts business. Martie replaces John Langenus, who announced his retirement in April. Martie has been serving as president of WellPoint’s Colorado local group plan. The national accounts business, which serves multi-state employers, covers more than 12 million people.
City officials are seeking bidders for the first phase of Indianapolis’ largest-ever public works project, an underground tunnel system equipped to store millions of gallons of raw sewage and prevent the excrement from flowing into local waterways.
Indiana Health Information Exchange Inc., based in Indianapolis, added two more hospitals to its medical-record-swapping network. Logansport Memorial Hospital and Woodlawn Hospital have linked their electronic medical records systems to those of 79 other hospitals, long-term care facilities or health centers via the Exchange’s Indiana Network for Patient Care. The network handles about 3 million secure transactions of clinical data every day, including laboratory test results as well as medication and treatment histories. The goal of the exchange is to help doctors have the fullest information possible to choose the best therapy and to avoid drug interactions that could harm or even kill patients.
Marian University is a step closer to recruiting students for its new medical school after it won pre-accreditation status from the accreditation commission of the American Osteopathic Association. The initial step of approval had been delayed since December, when the commission requested that Marian put money it has raised to fund the school in a different kind of escrow fund format than Marian had done. That setback led Marian to plan to open the school in fall 2013 instead of fall 2012. It now hopes to receive provisional accreditation in September, after which it can begin recruiting students. “We decided that we would get a much higher quantity of the students we wanted to attract,” Dr. Paul Evans, dean of Marian’s college of osteopathic medicine, told IBJ in April. “We felt we would have more time to get the word out.” Because doctors of osteopathy go into primary care at higher rights than doctors of medicine, Marian hopes its new med school—only the second in Indiana—will help address a shortage of primary care doctors estimated to reach 2,000 by 2020.
Profit surged at CNO Financial Group Inc. in the first quarter, topping expectations of Wall Street analysts. The Carmel-based life and health insurer on Monday reported earnings of $54 million, up 59 percent from the same quarter a year earlier. The profit translated to 19 cents per diluted share, compared with 16 cents per share predicted by analysts surveyed by Thomson Reuters. CNO enjoyed a big boost in profit at its Chicago-based Bankers Life unit because of higher interest-rate spreads on its annuity products, as well as fewer costs on long-term care policies it holds but no longer sells. Those results offset a dip in profits at CNO’s Carmel-based Washington National unit and flat profits at Philadelphia-based Colonial Penn. Revenue totaled $1.05 billion, up 4.7 percent and slightly ahead of analysts’ projections.
Recent acquisitions by IU Health and Franciscan Alliance keep up a trend of physicians becoming employees of hospital systems, in preparation for changes under health care reform.
