Local FedEx employees working more during holidays
Many of the 5,000 employees at the FedEx Express hub at Indianapolis International Airport are benefiting from the holiday
shipping rush by working longer hours.
IBJ Staff and Associated Press
Articles
Radio giant Citadel files for bankruptcy protection
Las Vegas-based Citadel Broadcasting, which owns three radio stations in Indiana, filed for Chapter 11 bankruptcy protection
on Sunday in an effort to restructure its hefty debt load.
General Growth says it will consider acquisition offers
General Growth Properties, the Chicago mall owner that Indianapolis-based Simon Property Group Inc. is interested in buying, said the company will consider all offers and may sell shares to the public to raise capital.
Atlanta dates set for former Indy tennis event
As first reported by IBJ on Nov. 28, the men’s tennis event that is leaving Indianapolis is heading to Atlanta, the ATP confirmed.
Conseco shoots for $222M in stock offering
The company plans to use at least $150 million to repay debt under its senior credit agreement. The remaining proceeds will
be used for general corporate purposes.
Cummins engine business president stepping down
Engine maker Cummins Inc. said the head of its engine business is leaving his role in March to pursue other projects at
the company. Jim Kelly joined the company in 1976 and was promoted to president of the engine business in
2005.
Senate rejects drug-importation proposal
The U.S. Senate voted down a plan Tuesday to allow Americans to import prescriptions from abroad, handing drug makers
such as Indianapolis-based Eli Lilly and Co. a victory.
Big Ten Conference ready to explore expansion
According to a statement released Tuesday afternoon, the Big Ten Council of Presidents/Chancellors “believes that the timing
is right for the conference to once again conduct a thorough evaluation of options for conference structure and expansion.”
Supreme Court rejects Indiana’s appeal of Chrysler sale
The justices on Monday turned down an appeal from the state of Indiana pension funds that earlier challenged the automaker’s
bankruptcy proceedings.
Eli Lilly’s shares slip after it forecasts mixed profits in coming years
The Indianapolis-based drugmaker predicts strong profits through 2011, but its forecast for 2012 suggests bottom-line results
could fall precipitously.
HealthNet lands $10.5 million in stimulus funds
HealthNet said it will use the funds to expand and renovate two community health centers that have outgrown their space.
Bloomington panel won’t support chain-store ban
A task force appointed by Bloomington’s mayor will instead look at other options for protecting the small-town character of the city’s downtown from standardized chain stores and eateries.
Simon buying General Growth debt for possible takeover
The Indianapolis-based shopping mall owner is facing competition for General Growth from Toronto-based Brookfield Asset Management Inc., which also has been buying up General Growth’s debt.
State colleges face $150M in cuts as tax revenues fall
Indiana Gov. Daniels calls for cuts with announcement that tax collections for November were $144 million below forecast.
General Growth’s refinancing plan could thwart Simon
General Growth Properties Inc., the nation’s second-largest shopping mall operator, said lenders have agreed
to restructure about $9.7 billion in debt. The agreements could put a damper on the acquisition aspirations of rival Simon
Property Group Inc.
State Museum to close on most Mondays
The museum has been facing tight budgets and dropping attendance.
Indiana casino owner declares bankruptcy
Majestic Star Casino LLC owns two casinos and a hotel in Gary, a casino-hotel in Tunica County, Miss., and a casino in Black
Hawk, Colo.
Egg industry debates ethics of cage sizes
The answers could have big implications for the egg industry, which counts Indiana as one of its leading producers. The Hoosier state ranked third in egg production in 2008, trailing only Iowa and Ohio.
Indiana near top in smoking survey; national rate rises
A survey found cigarette smoking rose slightly on a national basis for the first time in almost 15 years and that Indiana
had the second highest smoking rate among states.
National, state foreclosure filings fall
Indiana foreclosure filings were down only 1.5 percent in October from the previous month, but have fallen a whopping 18.5 percent from October 2008.