PITTSBURGH Aluminum producer Alcoa Inc. says it’s cutting about 13 percent of its global work force and slashing spending and output due to the economic downturn. The Pittsburgh-based company says 1,700 contractors also will be cut and that it’s implementing a global salary and hiring freeze. As a result of its actions, Alcoa expects fourth-quarter […]
Indianapolis Convention & Visitors Association has hired locally based Young & Laramore as its agency of record after reviewing proposals from 13 applicants. The ad shop will support ICVA’s internal marketing efforts, offering its advertising and branding expertise. The win is good news for Y&L, which made staff cuts in November after long-time client Steak […]
The Indianapolis Museum of Art today announced a series of cutbacks designed to trim $1.7 million from its budget due to revenue shortfalls and “significant losses” to its endowment. As of Nov. 30, IMA’s endowment was worth $278.5 million, down 27 percent from the same date in 2007. The museum is trimming expenses for the […]
Carmel insurer Conseco Inc.’s shares dropped 5.5 percent yesterday after an analyst downgraded the stock after regulators alleged that the company underfunded its policies.The stock closed the day at $4.45.New York-based Keefe, Bruyette and Woods Inc. cut its rating for Conseco and reduced its price target on the shares from $10 to $8, citing pending […]
Airlines may be struggling nationally, but Indianapolis-based Republic Airways flew more passengers last year than in 2007.The regional carrier said Jan. 2 that it transported 18.9 million passengers in 2008, up 16 percent from the prior year.The airline holding company owns Chautauqua Airlines, Republic Airlines and Shuttle America – airlines that offer about 1,250 flights […]
he CEO of the biggest electricity provider in Indiana has
been ranked No. 50 on "The Global Elite" ranking of 50 influential individuals compiled by Newsweek.
A group of thoroughbred lovers concerned about the horses’ futures spend every weekend during the summer racing season at
Hoosier Park.
Indianapolis based Emmis Communications Corp. signed a three-year deal to produce and publish the Indianapolis Convention & Visitors
Association’s
semi-annual visitors guide, convention planners guide and other tourism-related publications and materials.
Indiana Secretary of State Todd Rokita has issued a warning about a fraudulent letter targeting Indiana businesses.
Another economic development official has left the administration of Gov. Mitch Daniels as the Republican prepares to start his second term. Bruce Kidd, director of small business and entrepreneurship at the Indiana Economic Development Corp., said yesterday that he has taken a post as senior vice president at Walker Information, the Indianapolis company that helps […]
Two of Japan’s largest automakers are considering building parts inventories to prevent suppliers from sliding into bankruptcy, according to Bloomberg News. Toyota Motor Corp., which has operated under the lean, just-in-time system since 1938, as well as Honda Motor Co. fear that the struggles of Detroit automakers could result in many parts makers going out […]
Car buffs aren’t letting negative news about the economy keep them away from the 2009 Indianapolis Auto Show. Attendance is running about even with last year’s show, said Marty Murphy, executive vice president of the Indianapolis Automobile Trade Association, the dealer group that sponsors the show. Last year, the seven-day event attracted 230,000. This year’s […]
Critics were lined up to oppose Gov. Mitch Daniels’ plan to streamline
local government almost before he left the podium Dec. 19. Big surprise.
Spotlight on a local not-for-profit’s programs and finances.
Shareholders of both companies today approved the $5.6 billion merger between National City Bank and PNC Financial Services Group Inc., formally sealing a deal that is expected to close Dec. 31.Pittsburgh-based PNC announced plans to buy National City on Oct. 24, with help from a $7.7 billion infusion from the federal government’s financial industry bailout plan.The merger […]
Jim Cramer, the host of CNBC’s “Mad Money” television show, said yesterday that Eli Lilly and Co. stock is “one that will help investors sleep at night” because of its 5.2 percent dividend yield, which he called “juicy.” The popular TV host has shied away from Lilly in the past because of the company’s huge […]
The editor and senior vice president of the Baltimore Sun will join the Indiana University School of Journalism in January to direct a new sports journalism program in Indianapolis and Bloomington.Tim Franklin, who graduated from IU in 1983, served as a jurist for the Pulitzer Prize in 2006 and 2007 and was previously editor of […]
Steak n Shake Co. has recorded its 14th consecutive quarter with a same-store sales decline. The locally based chain reported a 1.4 percent drop in same-store sales for the first quarter, which ended Dec. 17. The chain saw its revenue fall 6.7 percent in fiscal 2008, for a fiscal year loss of about $23 million. […]
November was another bleak month for the Indianapolis-area housing market, with the number of units sold tumbling 29 percent compared with a year earlier. Sales in the 13-county Indianapolis area totaled 1,448 for the month, compared with 2,028 in November 2007, according to the Metropolitan Indianapolis Board of Realtors. The latest month was weak by […]
Property-tax caps should help Hoosier homeowners save a bundle next year.
