Evansville-based Shoe Carnival Inc. said today that profit in its fiscal second quarter fell to $167,000, down from $2.9 million in the same period of 2006. Sales for the quarter ended Aug. 4 increased 5.4 percent, to $154.8 million. However, same-store sales were down 7.1 percent. The shoe retailer attributed the decline to fewer shoppers, […]
A psychiatrist who advises the state of Minnesota on which drugs to use in Medicaid programs received $488,953 in speaking fees from Indianapolis-based Eli Lilly and Co. over eight years through 2006, according to an Associated Press analysis. The fees, received by John E. Simon, have raised questions about whether Simon was influenced to recommend […]
Fujitsu Ten Corporation of America plans to stop making automotive electronic controls at its Rushville plant by Nov. 9 and send the work to a sister facility in Reynosa, Mexico. Competitive pressures forced the Japanese company to look elsewhere to control costs, said Human Resources Manager Jim Thomas. About 60 workers will remain at the […]
For two years in a row, the Indianapolis-Carmel metro area has been the nation’s most affordable major housing market, the National Association of Home Builders and Wells Fargo said yesterday. An index shows that 87 percent of new and existing homes sold in the second quarter were affordable to families earning the area’s $63,800 median […]
After studying every U.S. city with minor-league sports but no major league teams, Street & Smith’s Sports Business Journal concluded that Ft. Wayne was the nation’s No. 1 minor league sports town. Rounding out the top five were Hershey-Harrisburg, Penn., Oklahoma City, Okla.; Rochester, N.Y., and Reading, Penn.. Cities were judged on number of teams, […]
Central Indiana homebuilder Paul Estridge Jr. plans to donate $10 million to the Central Indiana Community Foundation’s Legacy Fund and $10 million to unspecified Indiana businesses. The donations come from the $53.5 million in proceeds Estridge is expected to receive by selling his 34-percent stake in the Indiana Downs horse-racing track to South Bend-based Oliver […]
The largest integrated soybean-based biofuel production facility in the world opened today near Claypool. The northern Indiana plant, owned by the French agribusiness giant Louis Dreyfus Commodities has enough capacity to consume nearly one of every six bushels of soybeans grown in the state. It’s big enough to produce 88 million gallons of biodiesel fuel […]
Eli Lilly and Co.’s depression drug Cymbalta dampened pain in patients with fibromyalgia and has asked the Food and Drug Administration to approve it for secondary use, the Indianapolis pharmaceutical maker said today. Patients experienced less pain beginning a week after taking the treatment, a study showed. Two percent to 4 percent of Americans, mostly […]
Riverside Manufacturing Inc. of Fort Wayne has acquired Transportation Safety Technologies Inc., an Indianapolis maker of wiring harnesses, sensors and other electronics for trucks and emergency vehicles, the companies plan to announce today. Transportation Safety Technologies is near downtown on the northeastside and was owned by Arcapita, a Bahrain-based investment firm with an office in […]
Chicago Tribune travel writer Alan Solomon says Indianapolis’ resurgence has become old hat, but that a recent trip was revealing nonetheless. “What’s astonishing is, while other Midwestern cities continue to struggle, Indianapolis has become a worthwhile destination while still being surrounded by Indiana,” Solomon said. “It’s not anything like Muncie. Not anymore.” Several downtown bars […]
It’s taken contractors 16 months, but repairs to thousands of central Indiana houses and cars following storms in March and April of last year finally are winding down. Marc Fairchild, vice president of claims at Indiana Farmers Mutual Insurance Co. in Carmel, said only 10 of the 4,330 claims his firm logged remain open. “It […]
Courier Corp. plans to announce this afternoon that it will create more than 100 jobs in addition to the 500 now working at its book publishing operation in Kendallville north of Fort Wayne, a source familiar with the expansion said. A public company headquartered in North Chelmsford, Mass., Courier has 10 locations that publish educational, […]
Corn-Indiana’s top agricultural crop-is a better investment than oil, copper and other commodities, Goldman Sachs and other Wall Street firms are telling clients. Agricultural products are more likely to withstand a global economic downturn because people still have to eat, according to a Bloomberg report. Consumers in China and other emerging Asian markets will continue […]
Indiana has been in recession since late last year but is on a trajectory to climb out this fall, according to Moody’s Economy.com, a national forecasting company. A computer model based on employment and industrial production also shows that the manufacturing-intensive metro areas of Anderson, Muncie, Elkhart and Michigan City are in recession, Economy.com said. […]
A Texas-based investment group disclosed in a regulatory filing this morning that it has amassed a 5.8-percent stake in The Steak n Shake Co. and wants two of its representatives added to the struggling company’s board. The group includes San Antonio-based Lion Fund and Western Sizzlin Corp., a steakhouse chain based in Virginia. According to […]
Indianapolis-based Marbaugh Reprographics Supply Co. has been bought by Global Imaging Systems Inc., a Tampa, Fla., firm that was acquired by Xerox Corp. in May. Marbaugh sells and services wide-format copiers. The downtown company also scans, prints and offers other reproduction services. Former Marbaugh co-owner Brad Clough will be vice president and general manager.
Patricia Maryland, chief operating officer of the Indianapolis region of St.Vincent Health and president of St.Vincent Indianapolis Hospital, has taken a new position overseeing marketing in Michigan for Ascension Health. Ascension Health, the nation’s largest Catholic and not-for-profit health system, is based in St. Louis. St. Vincent Indianapolis Hospital will name an interim president.
Indiana ranks 36th in this year’s annual “Cost-of-Doing-Business,” an index compiled by the Milken Institute, a California think tank. Last year, Indiana placed 33rd. The ranking is a modest win for Indiana Gov. Mitch Daniels, who has focused much of his effort on lowering the cost of Hoosier business. The index considers states’ costs of […]
Westfield town councilors have unanimously approved an expansion of multi-use development Eagle Station to 997 acres, up from the 856 acres approved last year. The project now could include 2,230 single-family houses, 800 apartments and a number of businesses, according to the Noblesville Daily Times. The developer, Westfield-based Wilfong and Kreutz Land Development LLC, has […]
Iowa Speedway today at the Iowa State Fair announced a two-year extension with the Indy Racing League to host the Iowa Corn Indy 250 through 2009. The Iowa Corn Growers Association will remain as title sponsor for the races. The announcement was made by ABC/ESPN racing analyst and former NASCAR driver Rusty Wallace, who designed […]
