Commuters and truckers could get an all-day headache when Interstate 70 closes in October to allow Eli Lilly and Keep Indianapolis
Beautiful to spruce up part of the city.
CNO Financial Group Inc. will resort to a sealed-bid auction to unload the lavish Hilbert mansion in Carmel, which has been
on the market for five years. Its latest asking price was $9.9 million.
Roche Diagnostics, which runs its U.S. operations out of Indianapolis, has partnered with IBM to develop a DNA sequencer much faster and cheaper than current technology. Roche and IBM ultimately want to provide a test that performs whole genome sequencing for $100 to $1,000 per test. Such wide access could make genetic sequencing as standard as biopsies, for example, and then allow medical professionals to “personalize” medical treatment based on a person’s genes. As part of the agreement, Roche will fund continued development of the technology at IBM and provide additional resources and expertise through collaboration with Roche’s sequencing subsidiary, Maryland-based 454 Life Sciences. Roche will develop and market all products based on the technology.
Indianapolis-based insurer WellPoint Inc. said its California subsidiary will dial down rate hikes that drew national outrage earlier this year and helped spark a final push for health care reform, according to the Associated Press. WellPoint now plans to raise rates by 14 percent for California individual policyholders. It will cap rate hikes at 20 percent, even though the company said it would lose $100 million on the plans this year. In April WellPoint withdrew increases that averaged 25 percent—and topped out at 39 percent—after consumers and President Barack Obama expressed outrage. WellPoint defended the hikes by saying rising medical costs and healthy people dropping coverage during the recession were forcing it to raise rates. But an outside actuary also found math errors, which prompted last week’s reduction.
About $72 million in construction bids have been awarded so far for the new Wishard Hospital. The contracts total about 14 percent of the entire construction package for the $754 million project, said Matt Gutwein, president and CEO of Health & Hospital Corp. of Marion County, which owns the hospital. He said the new hospital is on schedule and slightly below budget. The 1.2-million-square-foot hospital will be built on 37 acres at the west end of the IUPUI campus. Bids that have been awarded include demolition work, as well as work on a parking garage, the hospital’s foundation and utilities. Wishard hopes to award all contracts by January.
But promoters of effort to bring global soccer competition here in 2018 or 2022 aren’t concerned about repeat of financial
failures of World Basketball Championships.
Wall Street bankers for decades sold municipalities like Indianapolis on debt instruments called swaps as a safe way to reduce
borrowing costs and hedge against rising interest rates. In reality, the swaps were complicated bets that relied
on misguided assumptions, and taxpayers paid.
To spearhead a once-in-a-generation overhaul of local government’s antiquated back-office computer system, Mayor Greg Ballard
has chosen an unprofitable software firm that as recently as March 31 warned investors that debt-refinancing issues could
force it out of business.
The Metropolitan Development Commission voted Wednesday afternoon to release nearly $4 million to
improve
the historic building in downtown Indianapolis.
Replacing the existing Wishard Memorial Hospital is so critical to the well-being of the sickly construction sector that one
industry official likens the project to a "lifeline."
A proposal that would have weakened Eli Lilly and Co.’s defenses against an unwanted takeover failed to pass April 19 at the company’s annual meeting of shareholders. The proposal to remove an 80-percent approval threshold for takeover bids against the wishes of Lilly’s board received approval from shareholders owning 74 percent of Lilly’s shares. But […]
The proposal to remove an 80-percent approval threshold for takeover bids against the wishes of Lilly’s board received
approval from shareholders holding 74 percent of Lilly’s shares.
Republican Rep. Dan Burton, who's seeking his 15th term in central Indiana's heavily Republican 5th District, raised
$754,000 through March 31 in that heavily contested race.
