Software Engineering Professionals Inc. intends to spend $7 million on an expansion will result in hiring nearly 90 employees in addition to its existing roster of 71, Indiana Economic Development Corp. announced today. The Carmel company, which develops enterprise and Web-based software for aerospace, medical, defense and automotive customers, plans to finish the expansion within […]
Best Buy is among seven retailers joining a Wal-Mart Supercenter and Shoe Carnival at Centre West, a new shopping mall at I-65 and Lafayette Road, developer Centre Properties announced today. Also planning to enter the location are Verizon Wireless, Dots, GameStop, CheckSmart, Pike Plaza Dental and Myra Eyebrows. Centre Properties is headquartered in Indianapolis.
An Elkhart-based manufacturer of modular houses and commercial buildings has gone out of business, closing a plant in the northern Indiana city and another at Leola, Penn. Miller Building Systems Inc. tossed a total of about 200 employees out of jobs as a result of the decision, according to the South Bend Tribune. The company […]
Autoliv Inc., a Sweden-based manufacturer of air bags and other auto-safety equipment, said yesterday that it will close its plant in the northeastern Indiana town of Columbia City, throwing 380 employees out of jobs beginning this year. The work will be consolidated at a Utah plant because the company doesn’t foresee the American auto market […]
Mid-West Insulation Inc., one of the city’s largest privately held commercial insulation contractors, told its 40 employees on Monday that it is closing. President and CEO Tom Flynn said the weakening economy caused profits to tighten, and the family-owned firm decided to shut down rather than allowing conditions to worsen and leave creditors and customers […]
Joblessness edged up to 6.4 percent in August from 6.3 percent in July, the Indiana Department of Workforce Development said today. The figure, which is seasonally adjusted and subject to revision, was well over the 4.5 percent rate of August 2007. Still, the department painted a nuanced picture of Indiana’s rate being a half-point below […]
Shares of Evansville-based manufacturer Accuride Corp., which closed last night at 73 cents each, exploded as high as $4 this morning on news the company’s exposure to Lehman Bros.’ bankruptcy is limited. The vehicle parts maker disclosed that only 19 percent of its $125 million credit facility is backed by Lehman commercial paper. The shares […]
Indianapolis-based CountryMark Cooperative Inc., which operates an oil refinery that turns out diesel fuel used primarily by farmers, has returned to drilling oil wells after abandoning the production business decades ago. CountryMark has hit oil with a well it drilled in Spencer County, and two more wells are planned this year in Posey County – […]
Conseco CEO Jim Prieur bought 200,000 shares in the company today, the Carmel insurer disclosed. The purchase brought Prieur’s stake to 430,000 shares, according to Bloomberg. Prieur acquired the shares for $4.35 to $4.97 a share. The stock is up 22 percent today, to $4.62, after having lost nearly half its value this week. The […]
Eli Lilly and Co. announced today that CEO John Lechleiter will also gain the additional title of chairman on Jan. 1. Lechleiter will replace Sidney Taurel, who is retiring. Lechleiter took over for Taurel as CEO on April 1. Lilly directors today also named Taurel as chairman emeritus.
Casino Aztar, the riverboat docked at Evansville, will be sold at auction Nov. 18, according to the Evansville Courier & Press. The casino had been sold to Reno, Nev.-based Eldorado Resorts LLC in March for as much as $245 million, but then the owner, Tropicana Entertainment LLC, sought bankruptcy protection, negating the sale. A Delaware […]
Indiana University fielded $408.6 million in support from donors and non-government research grants in its most recent fiscal year, the university announced today. The figure was a record. Gifts to IU Foundation and Riley Hospital for Children hit records, and nongovernmental grants were the second-highest ever.
St. Francis Hospital & Health Centers has reached a contract with managed-care giant Humana Inc. to provide health services to Humana’s 164,000 members in Indiana, the parties announced today. St. Francis has been out of the network since June 2007. St. Francis facilities included in the agreement include St. Francis Hospital & Health Centers in […]
Carmel-based Conseco Inc. disclosed late yesterday that it hassuffered a $40 million loss on sales of its investments in Lehman Brothers, American International Group and Washington Mutual Inc. As of yesterday, Conseco still had $103 million invested in the companies. Wall Street firm Lehman has gone bankrupt; AIG, a giant insurer, is being bailed out […]
Browning Investments Inc. plans to build three warehouses in Hancock County near I-70 and Mount Comfort Road, the Indianapolis-based developer said today. The facilities, which are being built on a speculative basis, will total at least 1.3 million square feet and sit on 153 acres at Mount Comfort Road and County Road 300 North. Joining […]
Several major expenses caused Indiana Business Bancorp to report a $163,465 loss in the second quarter, the Indianapolis-based parent of Indiana Business Bank reported today. The bank generated a $12,347 profit in the same period last year. Contributing to the loss was the addition of four employees and ratcheting up its provision for loan losses […]
Within just 45 minutes later this month, the RCA Dome will disappear from Indianapolis’ skyline, the Indiana Stadium and Convention Building Authority said today. The deflation, scheduled for Sept. 24, will be accomplished by turning off the fans that have kept the roof inflated since the dome was built in 1984. The Indianapolis Colts’ home, […]
Parkview Health, a hospital system headquartered in Fort Wayne, has bought naming rights to the city’s new $30 million minor-league baseball stadium. Payments made under the 10-year, $3 million deal will be split between the city and team owner Hardball Capital, with the city planning to spend its share on stadium capital improvements. The not-for-profit […]
A federal grand jury in Indianapolis has indicted Indianapolis resident James Moore, 27, accusing him of defrauding various banks out of $120,000. Moore obtained the money in cash payments after giving banks false information about the amount of money he had on deposit on various prepaid debit cards, U.S. Attorney Tim Morrison said in a […]
WellPoint Inc. expects to lose $214 million of its $243 million in investments in troubled housing lenders Fannie Mae and Freddie Mac, the Indianapolis-based health insurer disclosed yesterday. WellPoint said it would take a charge for the losses in the third quarter, but that the total figure is difficult to predict considering the volatility of […]
