Thursday, June 19, 2008

Cardinal fund launched with outside investors

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Thursday, June 19, 2008

Cardinal fund launched with outside investors
Partners in the Cardinal Ventures private equity fund have started a new fund, and are bringing in outside investors for the first time. The new fund, which has raised $40 million, is being fueled by a who's who in Indiana business, including a former Anthem Inc. executive and a co-founder of Duke Realty Corp. Cardinal Equity Partners will buy controlling stakes in five to eight companies, many of them family-owned or cases in which managers want to take ownership. 
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IU, Purdue to seek $70M for life science pact
Indiana and Purdue universities announced plans today to create the Indiana Innovation Alliance, and seek $70 million in funding from the General Assembly. The alliance would rope in businesses, government and other universities to help start and support companies working in biology and health. It also would dole out matching funds to support research in medicine, public health, pharmaceuticals, biofuels, nanotechnology, health-care delivery and the environment. 
Full Story
  
Humane Society CEO steps down
Six years after taking the helm of the struggling Humane Society of Indianapolis, CEO Martha Boden has left the not-for-profit as the agency's board looks to transform it into a "smaller, leaner organization," Chairman David Horth said in a statement. "It became obvious to the HSI board, and to Martha, that it no longer made sense for any individual to lead the organization at the CEO level," he said. Instead, the board realigned its administrative and operations staff and is recruiting an executive director.   Full Story

Hendricks hospital launching $60M expansion
Hendricks Regional Health will spend $60 million to add 205,000 square feet to its Danville hospital, the system announced today. The expansion will begin right away with a scheduled completion in January 2010. The new three-story wing will house six operating rooms, 37 private pre- and post-surgery rooms for patients, and a cafeteria.   Full Story

Software startup to expand downtown
A new software company that's developing music-teaching software plans to locate its headquarters in Stutz Business Center downtown and create 100 jobs by 2015. Musical DNA LLC will invest $2.3 million in the headquarters and development center, Indiana Economic Development Corp. announced yesterday. Musical DNA's education software turns music into multi-dimensional shapes and colors. 
Full Story

LaCrosse Footwear adding warehouse in Lebanon
LaCrosse Footwear Inc., the Wisconsin-based seller of work and outdoor boots, has contracted with Browning Investments Inc. and ProLogis to build a warehouse in the Boone County community of Whitestown. The 380,000-square-foot facility will be located in Park 267, an industrial park that Indianapolis-based Browning and ProLogis are developing near State Road 267 and Interstate 65.  Full Story

Lawmaker to help lead illegal immigration study
Democratic state Rep. Scott Pelath, D-Michigan City, will help lead a legislative committee's study of illegal immigration in Indiana. Lawmakers considered legislation last session that was aimed at penalizing employers who knowingly hire illegal immigrants, but the issue was contentious and legislators failed to reach a compromise. 
Full Story

Counselor to rule in BP phone records dispute
Indiana's public access counselor is investigating whether environmental officials violated public records laws by failing to release complete records of phone calls made about the time of a public hearing on the BP Whiting oil refinery's air permit. Public Access Counselor Heather Neal is expected to issue an official opinion by June 26 on a complaint by the Post-Tribune of Merrillville about public records. The northwest Indiana newspaper filed the complaint last month after the Indiana Department of Environmental Management said it did not have all the itemized cell phone records requested. 
Full Story
  


Letter from D.C., part 3
Washington theater-goers are impressive. Lou Harry's A&E
 
Is Hall Render marooned at No. 2?
Hall Render might never be the No. 1 health law firm. NewsTalk
 
Renaissance Bay & SpongeBob
A big condo project on the north side is rising fast. Property Lines
 
Gordon impresses NBA lottery ticket holders
L.A. Clippers and Milwaukee Bucks have sights set on IU guard. The Score


From IBJ staff - Compiled by Norm Heikens

GeneralNews

Shelby County opens center to help flood victims
State Homeland Security Officials and FEMA will open a disaster recovery center in Shelby County today. It's the sixth recovery center to open in Indiana in the wake of this month's historic flooding. Staff will be on hand through June 25 helping victims apply for federal assistance. FEMA officials say additional centers will be opened in the near future. Fox 59 will have more at 10 p.m.

Maintenance worker charged with rape
A maintenance man is charged with raping an 89-year-old woman at Bethany Village retirement home, where he worked. The victim says she tried to call for help using her medical alert necklace, but the suspect, Donald Day, kept her from reaching it. The elderly woman says Day used a key to get into her room and approached her as she was sleeping in a recliner, then raped her. Police say Day has no criminal history.

Perry constables accused of stealing guns
A Perry Township constable and his deputy are accused of stealing two firearms from a police property room. According to court documents, Constable Roy Houchins and Michael Sherfick signed a letter that was taken to the Marion County Sheriff's property room, claiming the weapons belonged to the Perry Township Constable's Office. The men are charged with corrupt business influence and conspiracy to commit theft. Sherfick is also charged with forgery.

IBJHealthCareWeekly
Columbus Regional taps savings to survive flood
If you're a hospital and a flood has just shut down your facility for months, how do you survive? Pretty much like a person who's just lost a job. Put big projects on hold and raid the savings account. Columbus Regional Hospital, evacuated and closed on June 7 because of historic levels of flooding, has tapped $30 million it set aside for building projects. It is now using the money to pay employees while it's closed.   Full Story   Full Story



 
 
 
 

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