Lebanon‘s city council has voted to send a nonbinding recommendation to the municipally owned utility that serves the city to stop offering Internet service. Lebanon Utilities anticipates losing $400,000 on the service this year and a total of $1.27 million by the end of 2010, according to the Lebanon Reporter. The utility’s board plans to […]
Federal-Mogul Corp., the Southfield, Mich., auto parts giant, plans to add as many as 50 employees at its lighting plant in the northeastern Indiana town of Avilla. The jobs will be part of a $6 million expansion. The plant now employs 120. The Indiana Economic Development Corp. offered as much as $500,000 in tax credits […]
As Indiana University’s 10-year technology plan comes to an end, the school is preparing to launch another plan for the next decade. Brad Wheeler, IU’s vice president for information technology, will lead a 140-member team to develop the next technology plan by the end of the year, according to The Herald-Times in Bloomington. IU President […]
Two Fort Wayne hospitals and a neurology center are launching a network to care for stroke victims, hoping to include as many as 30 facilities within 90 miles of the city. Parkview Health and Lutheran Health Network created the network with Fort Wayne Neurological Center, according to Greater Fort Wayne Business Weekly. Called StrokeCareNow, the […]
An Arizona man yesterday filed a class-action lawsuit against the NCAA over its practice of not refunding the $6 handling fee for lottery applications for tickets to Final Four games. In his suit in U.S. District Court in Los Angeles, Tom George asks that the NCAA to end the “illegal gambling” practice for men’s hockey […]
Johnson County commissioners have asked for a $22,531 reimbursement from the Indianapolis engineering and consulting firm RW Armstrong for unexpected additional work the county says it had to undertake on a road project. The commissioners blame Armstrong for leaving out drawings for a storm sewer and other work needed to upgrade the intersection of Stone’s […]
The Lafayette Redevelopment Commission approved providing $50,000 to the Caterpillar Large Engine Center to train 50 new workers, reports the Journal & Courier. The funds will come from the city’s tax increment financing and economic development income tax funds. Caterpillar employs nearly 1,800 at the site now; the additional 50 workers will fill production jobs […]
Toledo, Ohio-based Precision Cutoff LLC said today it will open a machine shop in Franklin and hire 47 workers by 2012. Precision plans to invest $2 million at an existing, 110,000-square-foot building in Hurricane Industrial Complex. The Indiana Economic Development Corp. offered $35,000 in tax credits and $29,500 in training grants. The city of Franklin […]
The federal government has rebuffed an attempt by Ball Memorial Hospital in Muncie to pay higher reimbursements for the Medicaid and Medicare patients it serves. Ball Memorial, which lost $7 million on the patients last year, is reimbursed 86 cents for every dollar of the costs. Many other hospitals in the state receive 96 cents, […]
Indianapolis-based Simon Property Group Inc. has access to $3.5 billion in credit as it anticipates snapping up shopping malls, according to Bloomberg. Chief Financial Officer Steve Sterrett told Bloomberg that the $1.5 billion of bond positions the company sold last week was used to pay down debt. The resulting improvement to Simon’s balance sheet positions […]
Lifeline Data Centers LLC said yesterday that its acquisition of Eastgate Consumer Mall has closed. The Indianapolis company announced in December that it would spend $23 million to transform the 370,000-square-foot mall at East Washington Street and Shadeland Avenue into a high-tech hub for hosting a data-storage operation. Common areas of the mall will not […]
Browning Investments, the Indianapolis developer that has built projects ranging from the NCAA headquarters to the downtown Marriott Hotel, is considering building a four-star hotel in downtown Evansville near the Aztar Casino and a possible new arena desired by some Evansville boosters. Browning said a new arena and other attractions would lure convention traffic, and […]
Steel Partners II said in a Securities and Exchange Commission filing yesterday that it is considering escalating its stake in Conseco Inc. from 10 percent to 22 percent. New York-based Steel Partners also said Conseco directors have been “slow” to implement a strategic review launched in March. “Return on equity of Conseco Insurance Group is […]
The governing body for Bloomington Hospital is scheduled to vote June 16 on a partnership between that hospital and Clarian Health Partners, according to The Times-Mail of Bedford. In November, Bloomington Hospital said it was considering the deal with Clarian. Such partnerships have become common nationally, as smaller hospitals seek to align themselves with larger […]
Purdue University might spend nearly $5 million this fiscal year on public relations, marketing and promotional activities, nearly double the $2.6 million the school budgeted in the 1997-’98 year, reports The Journal & Courier of Lafayette. The number of employees in Purdue’s promotion department grew 34 percent, to 67, at a time employment across the […]
A New Jersey company with 30 refrigerated warehouses in the country plans to build a unit in Lebanon Business Park. United States Cold Storage Inc. will spend $38 million on the 300,000-square-foot warehouse and distribution center, and hire 100 workers by 2012, according to the Indiana Economic Development Corp. The business park is owned by […]
Indianapolis developer Tim Shrout wants to open a business park in Shelbyville to attract suppliers to the new Honda Manufacturing of Indiana assembly plant in Greensburg. Shrout’s company, Cedar Run Investments LLC, is calling the 100-acre tract Pleasant View Commerce Park, according to The Shelbyville News. The location is 32 miles from the Honda plant. […]
Shares of Steak n Shake Co. tumbled this morning after the Indianapolis company reported late yesterday that same-store sales in its fiscal second quarter declined 6.3 percent. The stock fell 10.6 percent, to $6.81 per share. It was the 11th consecutive quarter in which the diner chain reported falling same-store sales. The company blamed the […]
A call center operator announced today that it will add a location in Terre Haute and hire 600 workers before 2009. Alorica Inc., headquartered in Chino, Calif., will occupy 50,000 square feet in Plaza North Shopping Center, 1800 Fort Harrison Road, on Terre Haute’s north side, according to the Indiana Economic Development Corp. The space […]
Natural gas prices will increase as much as 30 percent next winter over past winter, according to the Evansville Courier & Press, citing Vectren Corp. CEO Niel Ellerbrook. Prices are rising because customers want an alternative to utilities that use coal, which causes more pollution, Ellerbrook told investors at an annual meeting. Ten years ago, […]
