A slowing of new development caused the industrial property vacancy rate to drop in the third quarter, according to Colliers Turley Martin Tucker. The rate fell to 7.3 percent from 8.1 percent in the second quarter, the brokerage said. Available space fell by 3 million square feet, to 25.7 million square feet. While the brokerage […]
Allen County officials have stopped construction of a Fort Wayne hotel because a section of the seven stories that have risen into the air is sinking, according to WANE-TV Channel 15. The project, which is near I-69 and U.S. 24, is settling because it was built on topsoil, the Fort Wayne station reported. The contractor, […]
Brevini, an Italian company that makes transmissions for wind turbines and other applications, is expected to announce tomorrow afternoon that it will open a location in an industrial park at Yorktown, which is near Muncie. The location in Park One will involve as many as 400 jobs ranging from administrative to manufacturing, according to The […]
Stocks in Indiana and across the globe tumbled again today, as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded nearly 500 points and fell below 10,000 for the first time in four years, while the credit markets remained […]
Janitors and clergy staged a rally this morning over a decision by the owner of the 101 W. Ohio office tower downtown to hire a janitorial contractor that didn’t sign on to a citywide janitors’ contract negotiated last spring. The Service Employees International Union said Philadelphia-based Amerimar Enterprises replaced New York-based ABM Industries Inc. with […]
Normal 0 MicrosoftInternetExplorer4 Nonferrous Products Inc., a Franklin company specializing in metalworking and specialty alloys, has agreed to be acquired by International Beryllium Corp. of Vancouver, British Columbia, for $10.5 million. Nonferrous employs 35 at its 12-acre Franklin campus. The company reported $11.7 million in 2007 revenue and is profitable, International Beryllium said in a […]
Normal 0 MicrosoftInternetExplorer4 OHL, a Tennessee-based provider of logistics services, announced today that it will expand its Plainfield operations, investing $11.3 million and creating 120 jobs. The expansion will boost employment at OHL’s 3.2-million-square-foot Plainfield campus to 520. OHL provides logistics services for a variety of firms. The Indiana Economic Development Corp. said the state […]
Damage in Indiana caused by the remnants of Hurricane Ike is causing steep losses for an Ohio insurer with a big presence here. State Auto Financial Corp., a property-and-casualty insurer based in Columbus, Ohio, said it has customers in Texas, where Ike made landfall Sept. 13, but suffered its worst losses in Indiana, Ohio and […]
Eli Lilly and Co. this morning announced that it has agreed to buy biotechnology company ImClone Systems Inc. for more than $6 billion, a deal that expands Lilly’s pipeline of cancer treatments. Indianapolis-based Lilly said it will pay $70 per share for New York-based ImClone. “We really do create an oncology powerhouse,” Lilly CEO John Lechleiter said this […]
Indianapolis-based Eli Lilly and Co. will pay privately held Deciphera Pharmaceuticals LLC of Lawrence, Kan., as much as $520 million to develop and win regulatory approval for four types of cancer drugs, Bloomberg News reported.The companies will collaborate to develop cancer drugs using a Deciphera discovery that seeks to inhibit an enzyme linked to cancer […]
The co-founder of The Finish Line Inc. plans to step down as CEO in December, the locally based athletic apparel retailer said this morning. Alan H. Cohen will retire on Dec. 1, after 32 years at the company. He’ll remain as the chairman of the board.Glenn S. Lyon, Finish Line’s president, will assume the role […]
Bright House Networks has stopped transmitting signals of three local TV stations owned by Lin TV Corp., including WISH-TV Channel 8, after the parties failed to agree to extend their current deal. Rhode Island-based Lin, which also owns WNDY-TV Channel 23 and WIIH-TV Channel 17, had complained that Bright House refused to negotiate. Bright House, […]
Sales of houses in the Indianapolis area dropped nearly 18 percent in August compared with the same month a year earlier, according to the Metropolitan Indianapolis Board of Realtors. The 13-county region generated 2,350 sales compared to 2,852 in August of 2007 year and 3,204 in the same month in 2006. The decline wasn’t just […]
Purdue University’s executive MBA program, which is tailored for professionals returning for an advanced degree, placed 21st in the nation in The Wall Street Journal’s first such ranking. Purdue’s Krannert School was the only program in the state to make the list of the top 25 universities. Northwestern’s Kellogg School of Management placed No. 1, […]
Eli Lilly and Co. is in late talks to acquire ImClone Systems Inc. for $6.1 billion, according to a report on The Wall Street Journal’s Web site. The New York biotech firm develops various medicines for cancer treatments. Lilly would pay $70 per share for ImClone, the Journal said. The deal would be one of […]
Shopkeepers in the Brown County tourism center of Nashville are seeing little impact from the weak economy. Rather, some say business is up, according to The Herald-Times of Bloomington. Tourists are staying closer to home instead of embarking on long, costly trips, with some opting for Brown County over Gatlinburg, Tenn., and other destinations in […]
Mead Johnson Nutrition Co., the unit of Bristol-Myers Squibb Co. that is being spun off as a separate company, is considering moving its headquarters out of Evansville. Mead Johnson, which makes Enfamil and other baby food products, wants better access for international travel, according to the Evansville Courier & Press. About 40 to 60 employees […]
Thomas Healthcare Consulting, an Indianapolis firm that helps long-term care facilities with reimbursements from Medicare and Medicaid as well as other issues, has been acquired by BKD LLP. BKD is an accounting and consulting firm headquartered in Springfield, Mo. Financial terms were not disclosed. Robert Thomas, who founded Thomas Healthcare in 1989, is joining BKD […]
As officials predicted, only about 45 minutes was needed this morning to deflate the RCA Dome roof. The roof, which has hovered over the former home of the Indianapolis Colts, gradually fell to the floor as air was bled from ventilation ducts. More images from the event will be available at www.IBJ.com later today.
Conseco Inc. Chairman Glenn Hilliard snapped up 89,100 shares of the company late last week – at about the same time CEO Jim Prieur bought 200,000 shares, regulatory filings show. Hilliard acquired his shares for $4.61 to $7 each; Prieur acquired his for $4.35 to $4.97. Conseco stock has been flagging since the Carmel insurer […]
