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 […]
Indianapolis-based radio and magazine company Emmis Communications Corp. has formed a partnership to broadcast ethnic programming to Indian, Pakistani and other South Asian communities in Chicago, Los Angeles and New York. The partner, New York-based WorldBand Media LLC, will send its programming over Emmis’ high-definition radio bandwidth, Emmis said today. The signals are expected to […]
Noblesville-based truck body maker Warner Bodies Inc. has added 30,000 square feet of production space following its January acquisition of Metro Products in Indianapolis. The $850,000 deal included the food processing, chemical and pharmaceutical equipment Metro made through its Langsenkamp division. Warner is adding 15 employees to its existing roster of 80.
AmeriQual Group LLC, an Evansville company that makes ready-to-eat meals for the military and vending machines, plans to hire 400 temporary workers due to rising demand from hurricane-stricken areas. The positions are available in general production, warehousing and packaging, according to the Evansville Courier & Press.
One of the world’s largest health care suppliers plans to open a distribution center and warehouse in Plainfield. Pennsylvania-based Siemens Healthcare USA is taking a big chunk of a 500,000-square-foot building at 2150 Stanley Road, company spokesman Lance Longwell said. Longwell confirmed the deal but declined to disclose specifics, saying an announcement of the number […]
The sluggish economy has prompted several companies to close plants or lay off workers in the state in recent days. They include: -Jasper-based Kimball International Inc. said it will close its furniture factory in Borden and move the operation to its Salem plant, also in southern Indiana, according to the Evansville Courier & Press. Capacity […]
Riley Children's Foundation has received a $1 million gift from Jim Irsay and the Indianapolis Colts, the foundation announced this afternoon. The foundation supports Riley Hospital for Children. The foundation also announced that Lucas Oil Products founder Forrest Lucas, who bought naming rights to the new Colts stadium, has joined the foundation board.
Enough evidence of fraud by Eli Lilly and Co. in its marketing of Zyprexa exists to go ahead with a jury trial, a judge in New York has ruled. Plaintiffs in the case claim Lilly urged physicians to prescribe the schizophrenia and bipolar disorder drug for uses not approved by the federal government. Insurance companies, […]
Ball State University is embarking on its largest capital campaign in the Muncie school’s history, seeking to raise $200 million. Officials announced the goal this morning and hope to raise the money by 2011. Roughly $122 million already has been raised. Much of the money will be used to fund 200 new scholarships and more […]
Locally based Ingersoll Rand Security Technologies plans to expand its east side manufacturing operations, creating 40 jobs, the Indiana Economic Development Corp. announced this morning. The 100-year-old company makes panic release bars and electronic security products for exits. It will invest $6.1 million to upgrade equipment at its Tobey Drive plant, which already employs 530. […]
Novolipetsk Steel, one of Russia’s largest steel companies, said yesterday that it has signed a definitive agreement to buy Beta Steel Corp., a Portage-based minimill producer of hot rolled coil, for $400 million. Novolipetsk said it would pair Beta with its August acquisition of John Maneely Co., a Collingswood, N.J., pipe maker that operates a […]
Republic Airways Holdings will operate a dozen 76-seat Embraer aircraft for Milwaukee-based Midwest Airlines, Midwest announced yesterday. Indianapolis-based Republic will operate the planes until Midwest can move the fleet under its own Federal Aviation Administration operating certificate. Midwest will have the option of leasing the Embraer 170 aircraft from Republic. Republic also said it is […]
ArcelorMittal, the Luxembourg steelmaker that operates a mill on Lake Michigan, has sued a coal supplier, claiming the supplier is delivering less coal than their contract stipulates, the Post-Tribune of Merrillville reported. Not only is West Virginia-based Bluestone Coal Corp. shorting the Burns Harbor mill of coal, the suit alleges, but Bluestone is using ArcelorMittal […]
Deaconess Health System in Evansville has bought most of the assets of Welborn Clinic, also based in the southern Indiana city, to form one of the largest doctor groups in Indiana, according to the Evansville Courier & Press. The merged group will be called Deaconess Clinic, and will have more than 80 doctors, 500 employees […]
Michigan-based Kellogg Co. has acquired IndyBake Products LLC, a cracker and cookie bakery headquartered in the western Indiana town of Seelyville, and plans to add 300 full-time and contract jobs over several years to the 80 existing positions. Financial terms were not disclosed. Most existing IndyBake employees will be hired by Kellogg, the Indiana Economic […]
Wheaton World Wide Moving has named two executives to fill the president and CEO positions long held by Stephen F. Burns, who will remain chairman, the Indianapolis moving company announced today. Effective Jan. 1, Chief Operating Officer Mark Kirschner will become CEO and Executive Vice President Dave Witzerman will become president. Burns has led the […]
