Principal Financial shift to result in local layoffs
Financial giant Principal Financial Group Inc. is exiting the health insurance business, a move that will cost 60 Indianapolis workers their jobs.
IBJ Staff
Articles
Thinner margins squeeze Steel Dynamics profit
The Fort Wayne-based steelmaker reported profit of $19 million, or 9 cents per share, compared with $69 million, or 30 cents per share, in the same period last year.
GE to pump $161 million into Bloomington plant
General Electric announced Monday morning that it plans to invest $161 million at its Bloomington refrigerator plant, creating up to 200 jobs by 2014. The plant, which was once slated for closure, now has more than 500 employees.
Local senior living manager makes $60.5M acquisition
Indianapolis-based Keystone Senior Living LLC has acquired a portfolio of 28 communities in Minnesota and Wisconsin, more than doubling the units it has under management.
AmericInn buys Fishers hotel, enters local market
Minneapolis-based hotel chain AmericInn has purchased a Holiday Inn along Interstate 69 in Fishers, giving the company its first Indiana location.
Prosolia Inc. restructures top management
The company, which develops mass spectrometry devices used in the life sciences and industrial chemistry, has a new CEO, among other changes.
USA Track & Field hires search firm to find CEO
A California firm was hired to replace fired former leader.
Retailers opening new stores around Indy before holidays
OshKosh B’gosh will open its first Indianapolis store next to The Fashion Mall at Keystone.
Christian Theological Seminary to search for new president
The current president will retire next June 30 but continue in an advisory role as the school begins to develop new educational approaches.
Indianapolis wins state “Green Community of the Year” award
Mayor Greg Ballard has unveiled a number of green initiatives, ranging from widespread use of hybrid vehicles to making the City-County Building more energy-efficient.
EDITORIAL: Judge North of South project on its merits
The city’s plan to provide an $86 million loan for the mixed-use North of South real estate development adjacent to the Eli Lilly and Co. campus has drawn criticism from those who think the city should focus first on other needs, such as IndyGo and public libraries.
PROXY CORNER: Arcadia Resources
Arcadia Resources Inc. offers pharmacy services. In addition, the company provides home health care staffing and sells medical equipment by catalog. Its flagship pharmacy product is DailyMed, which packages dosages of prescription medicines into individual packets labeled with the time of day they are to be taken.
Roche acquires assets from Virginia IT company
Terms of the deal, announced on Wednesday, call for Roche to acquire all the assets associated with Medical Automation Systems Inc.’s point-of-care information technology connectivity system.
ChaCha lands $20 million venture investment
The funding comes from new investors VantagePoint Venture Partners and Rho Ventures. Since its inception in December 2005, ChaCha has raised more than $50 million, including $7 million earlier this year from a venture capital fund.
Heating bills should be cheaper this winter, utility says
Citizens Energy Group projects that the gas bill of its average residential customer will decline about 7 percent over the winter heating season. The utility said a customer who uses the typical amount of natural gas will spend $580, down from $620 last season.
Home sales continue to slump, but prices rise
Home-sale agreements in the nine-county area fell 22.8 percent in September when compared with the same month a year earlier, according to a report released Tuesday by F.C. Tucker Co.
Ruling cuts $42M award for state workers seeking back pay
An appeals court said union workers were eligible for just a couple of months of back pay, rather than for 20 years of back pay.
East-side distribution center with 80 workers set to close
Oshkosh, Wis.-based Hoffmaster Group said the plant at 2525 N. Shadeland Ave. will permanently close by Feb. 28. The facility distributes paper plates, napkins and party invitations.