An Anderson company controlled by retired Rolls Royce executive Mike Hudson has signed an engineering, manufacturing and distribution agreement with a global powerhouse, Seoul, Korea-based Samsung Techwin Co. Ltd. IPower Energy Systems, which makes energy-efficient and environmentally friendly generators, gets exclusive Samsung distribution rights in markets including China, Korea, Vietnam, India, Australia, Russia, Ukraine and […]
Eli Lilly and Co.’s osteoporosis drug Evista has been approved to reduce risk of invasive breast cancer in postmenopausal women with osteoporosis and postmenopausal women at high risk for invasive breast cancer, the Indianapolis drugmaker announced today. The U.S. Food and Drug Administration move came after an FDA advisory panel in late July recommended the […]
The Indiana Gaming Commission has approved the purchase of Resorts East Chicago by Las Vegas-based Ameristar Casinos Inc. Ameristar is buying a subsidiary of Las Vegas-based Resorts International Holdings LLC that owns and operates Resorts East Chicago for $675 million.
The person who replaces Gordon Hendry at the helm of Indy Partnership likely will be from the Indianapolis area, said Mark Miles, who is president of the economic development marketing group’s oversight organization, Central Indiana Corporate Partnership. Without divulging names, Miles said he has three or four possibilities in mind: “We will have superb choices […]
Evansville-based Integra Bank Corp. said today it has agreed to acquire Cincinnati-based Peoples Community Bancorp Inc. in a deal valued at $85.6 million. The cash and stock deal, approved by both companies’ boards of directors, helps boost Integra’s Cincinnati presence. Peoples Community Bank has 19 locations in southwestern Ohio and southeastern Indiana. Integra has 80 […]
Instead of charging its employees for failing to quit smoking, lose weight or improve other health factors, Clarian Health Partners now will give them incentives to change bad health habits. Beginning next year, Clarian had planned to charge employees $5 per paycheck-or $130 a year-if they smoked cigarettes and weren’t trying to quit. The hospital […]
Pended home sales in the Indianapolis area fell 14.2 percent in August compared to a year earlier, according to residential real estate brokerage F.C. Tucker Co. The nine-county region generated 2,419 pending sales of single-family homes and condominiums. Such sales are signed but not closed. Tucker, which receives the information from the Metropolitan Indianapolis Board […]
Indianapolis-native Emily Kennerk’s public art won’t be part of the Indianapolis Cultural Trail, a trail spokeswoman said today. Kennerk proposed sculpture, “Play,” depicted five oversized marbles at the intersection of Alabama and Vermont streets and Massachusetts Avenue. Kennerk and trail officials could not agree on the timing or budget for the piece, causing the trail […]
Indianapolis-based Simon Property Group is positioned to weather a looming downturn in values of shopping malls, according to The New York Times. The real estate investment trust, the nation’s largest owner of shopping malls, is concentrated in choice regional malls whose values are expected to hold up in the face of deteriorating credit markets, the […]
As Gov. Mitch Daniels travels to Japan this week in search of job commitments, he can take some comfort that, if the state fails to pull out of its static employment status, there’s always Michigan to point to. Not much is going well for Indiana’s northern neighbor. At a time most states are piling in […]
Houses in Indiana increased the least of any state in the nation between 2000 and July 2006, new U.S. Census Bureau data shows. Indiana houses increased a meager 11 percent after adjusting for inflation, according to The Journal Gazette of Fort Wayne. The median house value stands at $120,700. Only 25 Indiana counties and eight […]
A group that protested the proposed Illiana Expressway in northwest Indiana has taken sides with landowners who oppose a sprawling intermodal facility planned for LaPorte County. Citizens Against the Privatized Illiana Tollroad is helping Stop Intermodal Save Our County-also to prevent development of farmland, according to the Times of Munster. State and local negotiators are […]
A New York City company that makes consumer products will build a production plant in the east-central Indiana town of Cambridge City, according to the Richmond Palladium-Item. An announcement is scheduled Sept. 25. The project will cost “tens of millions of dollars,” said Jim Dinkle, president of the Economic Development Corp. of Wayne County. The […]
Two sites in the U.S. and one international site are finalists for a new Rolls-Royce plant, according to The State of Columbia, S.C. One domestic site is in Greenville, S.C., the newspaper reported, quoting Greenville County Council Vice Chairwoman Judy Gilstrap. Gilstrap would not identify the other sites. Rolls-Royce spokeswoman Mia Walton would not comment […]
The opening in early August of Four Winds Casino Resort just across the state line in New Buffalo, Mich., had only a small impact on the five casinos operating in northwest Indiana. Total revenue at the five casinos increased by $1 million in August from July 2006, to $10.49 million, according to the Post-Tribune of […]
Macy’s Inc., which has three Indianapolis department stores, is still fighting a stubborn public relations battle in Chicago, where it bought Marshall Field’s two years ago and renamed the local legend Macy’s. More than 100 people marched yesterday to ask people living in Chicago to boycott the department store until Macy’s changes the name back […]
A proposed ban on new truck stops at Greenwood’s two Interstate 65 interchanges has gained unanimous support from the city council. The council also might ban additional gas stations and convenience stores, according to the Daily Journal of Franklin. A lengthy list of businesses, including dog kennels and boat dealers, already is banned by the […]
A group led by an aggressive, 29-year-old investor from Texas has boosted its stake in the struggling Steak n Shake Co. from 5.8 percent to 6.7 percent, according to a regulatory filing. Sardar Biglari, who runs San Antonio-based Lion Fund, began acquiring Steak n Shake shares this spring. Biglari and affiliates-including Western Sizzlin Corp., the […]
Indianapolis-based Finish Line Inc. has hired Moelis Advisers as a non-exclusive financial and capital markets adviser, the shoe and clothing retailer announced this morning. Moelis is a division of New York-based Mercanti Securities LLC, which is a unit of Los Angeles-headquartered Mercanti Group. In its statement, Finish Line didn’t discuss why it had hired Moelis. […]
Aprimo Inc., the north-side developer of marketing software, said in a Securities and Exchange Commission filing this morning that it plans to raise up to $50 million in an initial public offering. The company would be listed on NASDAQ under the ticker MKTG. Aprimo said the price and number of shares have not been determined. […]
