Bren Simon says in a new court filing that her billionaire husband Mel Simon granted her a bigger share of his fortune in
the last year of his life because of alarm over Simon Property Group’s plunging stock price and a sharp cut in its cash
dividend.
The number of newly-laid off workers seeking jobless benefits unexpectedly rose last week.
Some observers see a parallel to the state’s seeking Japanese investment following recession in the early 1980s.
They’ve ousted Tony George, now it’s time for the former Indianapolis Motor Speedway CEO’s three sisters and mother to lead
open-wheel racing out of the woods.
The court on Tuesday ruled in favor of Emmis in its bid to get a popular radio station it operates in Hungary back on the air.
Hey, wait a minute! That was the reaction, somewhat delayed, by the Indiana chapter of the National Federation
of Independent Business, to a late-December change to federal health reform legislation. The
Senate version of reform exempts companies with fewer than 50 employees from a requirement to provide
health benefits. But in late December, Senate leaders made a change for construction firms, saying the
exemption would apply only if they have five or fewer employees. The change was a favor to union groups,
which said non-union construction contractors would have an advantage over unionized shops that do provide
health benefits. Local NFIB leaders staged a protest/press conference last week, calling on Congress to “strip this
job-killing provision from a final health care bill.”
Orbis Education, a locally based maker
of nursing-education software, received $8 million in venture capital from Menlo Park, Calif.-based Lightspeed
Venture Partners. Founded in 2003, Orbis offers online instruction to help universities and hospitals
train new nurses. A key hurdle in the looming nursing shortage is the lack of capacity for nursing schools
to accept all qualified applicants. Last year, it had $4.5 million in revenue and 33 employees. Orbis
aims to boost its work force past 50 by the end of the year. Orbis had previously raised $4 million from
family, friends and angel investors.
Watch out, Eli Lilly and Co. A Greenwood pharmaceutical
firm plans to build a $28 million insulin facility there to make a cheaper version of the diabetes-fighting medicine. According
to the Daily Journal of Franklin, Elona Biotechnologies expects its 50,000-square-foot facility to employ as many
as 70 people. Greeenwood officials are considering $8.5 million in incentives, including some loans,
to help Elona build the facility and get it approved by the U.S. Food and Drug Administration. Elona
was founded in the late 1980s by former Lilly researcher Ron Zimmerman.
West Lafayette-based
IVDiagnostics LLC won a $124,000 grant from the National Institutes of Health to further
its cancer diagnostics research. The Small Business and Innovation Research Phase 1 grant will pay for
the company to improve the design of its IVFLow medical device, which analyzes and monitors tumor cells without taking blood
from a patient.
Physicians working in a surgery center connected to Community Hospital South kicked
in $500,000 to help the hospital complete a massive expansion. The gift, given by 65 doctors, boosts
to $1.2 million the money raised for the project by the philanthropic arm of Community Health Network.
The $130 million expansion will add 40 beds. It is scheduled to open in mid-2010.
His resignation removes George from any remaining role in Hulman & Co., Indianapolis Motor Speedway, IMS
Productions and other affiliated companies.
The locally based maker of nursing-education software will use the infusion to accelerate growth.
Six groups are vying to lead a redevelopment effort for the struggling Indianapolis City Market. Check out summaries of each
of the proposals.
City Market’s board president warns financing will challenge any of the six groups that responded to Mayor Greg Ballard’s
request for business ideas.
Fortune Industries Inc., an Indianapolis-based professional employer organization, has appointed Tena Mayberry as its CEO.
Mayberry, who also will continue to serve as president, succeeds John Fisbeck.
Lilly Endowment Inc. is continuing to support the state’s advanced-manufacturing initiative, giving Conexus Indiana a grant to help connect potential workers with the necessary training.
The Indiana Utility Shareholders Association aims to be the “collective voice” of investors
in four of the big utilities operating in Indiana.
The Chicago-based firm might take over food service at the Speedway as IMS continues to look for opportunities to outsource.
This week, a Bob Dylan tribute at the Athenaeum and tell-all tales at Theatre on the Square.
It’s hard to imagine an invention more commonly used than the light bulb. It’s a shame that by 2014 we probably
won’t be able to buy them anymore, at least not as readily as we do now.
Minnesota wants Danny Granger and Cleveland wants Troy Murphy. But Pacers player operations chief Larry Bird is demanding
a high price for prime players.
For the year, retail sales fell 6.2 percent, the biggest decline on government records that go back to 1992.
Dance Kaleidoscope’s winter show was a colorful redo of past works.
