Sliding sales coupled with costs incurred from a turnaround plan threw Steak n Shake Co. for a $9.2 million loss in its fiscal fourth quarter, the Indianapolis-based hamburger and milkshake company reported last night. It was the fourth quarterly loss in a row, and the 13th straight decline in same-store sales. The period ended Sept. […]
Struggling Irwin Financial Corp. reported today that it lost $54 million in the third quarter, down from $108 million in the second quarter, and said it is making progress turning itself around. The Columbus-based banking company is scaling back its far-flung operations and increasing its capital. Columbus neighbor Cummins Inc. last month committed to purchase […]
Evansville-based truck parts maker Accuride Corp. disclosed today that its stock has been suspended from trading on the New York Stock Exchange. Accuride’s market capitalization in the past month fell below the minimum average of $25 million. The company’s average had fallen to $9.2 million when Accuride warned of the potential delisting late last month. […]
Indianapolis-based MZD Advertising topped a field of 14 agencies competing to become agency of record for Gap Solutions Inc.,
which provides contracted services that support the National Guard Child Care Program.
Ice Miller LLP partner Lacy Johnson, who helped organize Ill. Democratic Sen. Barack Obama’s presidential campaign here, said
the election represents an opportunity for businesses to move beyond labels.
Indianapolis law firm Baker & Daniels LLP has formed an advanced manufacturing and logistics practice to be headed by
partner James S. Birge.
The city of Beech Grove is working on a redevelopment proposal for its St. Francis Hospital campus. Tentative plans call for
a mix of office space, apartments for seniors, and retail space.
The Indianapolis International Film Festival is losing volunteer executive director Brian Owens to a paid gig in Nashville,
Tenn.
The Indiana Municipal Power Agency said it has agreed to buy up to 50 megawatts a year from Crystal Lake Wind Energy Center
in Hancock County, Iowa.
Indiana’s blue vote for president-elect Barack Obama on Election Day was a sign that Hoosiers are ready for change. So was
the state’s red vote to keep incumbent Gov. Mitch Daniels in office. In this case, the status quo means more change. Daniels
has been making gutsy and sometimes unpopular moves since taking office four years ago. He ran on a promise to keep shaking
things up.
The St. Francis hospital system and Anthem Blue Cross and Blue Shield of Indiana are haggling over insurance reimbursement
costs. The original demand of Sisters of St. Francis Health Services Inc. would have increased reimbursement amounts $80 million
over three years, Rick Rhodes, an Anthem regional vice president, wrote in an Oct. 30 letter to employers covered by Anthem.
The increase would mean $12 million more in out-of-pocket costs to Anthem customers. But St. Francis claims its request for
an increase only brings it in line with what other hospitals are getting.
On Oct. 31, the Indiana Pacers announced a partnership with Clarian Health to improve health awareness for area residents.
For the second time this week, St. Francis hospital system and Anthem Blue Cross and Blue Shield have opted to continue negotiating rather than end their contract. A joint announcement by the parties last night said they had “made progress in negotiating a new multi-year contract and will continue their discussions until an agreement is […]
A proposed $100 million redevelopment project in downtown Fishers has come to at least a temporarily halt. The town and Cleveland-based Fairmount Properties LLC issued a joint statement yesterday saying they have agreed to end the agreement, which was signed in November of last year. Fishers was unwilling to use eminent domain to acquire properties […]
Dow AgroSciences LLC announced today it is acquiring sales, marketing, agronomy and product development assets of Wabash-based Brodbeck Seed Inc. Financial terms were not disclosed. Brodbeck, which develops corn, soybean and wheat seeds, will remain headquartered in the northern Indiana city and be reconstituted as Brodbeck Seeds LLC. Dow AgroSciences said the deal will build […]
Cooling global markets and the rising strength of the dollar will weaken Indiana exports and ultimately hurt the state’s economy next year, a panel of Indiana University economists said this morning. Employment will fall through most of 2009 and leave the state with 10,000 to 15,000 fewer jobs than in 2008, said the economists, who […]
Toshiba Office Solutions has acquired HPS Office Systems from ImageTec LP less than two years after Illinois-based ImageTec bought the Indianapolis supplier of copiers and other office equipment. Leon Mordoh sold HPS to ImageTec LP in December 2006 for more than $6 million. HPS was the fifth-largest Indianapolis-area office-equipment dealer. Mordoh said at the time […]
Minneapolis-based retailer Target Corp. announced today that it will shutter its location at 3700 S. East St. The store is south of downtown but north of I-465. Target said the store, which will remain open until Jan. 17, is being closed “after careful consideration of the long-term viability of this specific location.” The 84 employees […]
U.S. Sen. Richard Lugar isn’t interested in becoming secretary of state in the administration of President-elect Barack Obama, according to an MSNBC report today. Nor is Lugar interested in any other position in Obama’s cabinet, the report said. However, a spokesman for Lugar, who serves on the Foreign Relations Committee, said he was looking forward […]
Locally based Kite Realty Group Trust will report its third quarter earnings after the stock market closes this afternoon. The developer has seen its shares flounder as investors predict a slow holiday shopping season will hurt retail real estate firms. Shares dropped as low as $4.21 in recent weeks but fetched more than $6 this […]
