P. Schoenfeld Asset Management LLC intends to vote in opposition to the $10.9 billion buyout offer for Warsaw prosthetics company Biomet Inc., according to The New York Times. The New York firm owns 0.5 percent of Biomet shares. Last week, Institutional Shareholder Services, a Maryland shareholder advisory service, recommended voting against the offer because it […]
Patrick Industries Inc. has warned 44 workers that they might be laid off because of plans to close an Elkhart plant that makes interior doors for RVs and motor homes, according to the South Bend Tribune. Elkhart-based Patrick has employs 1,000 workers who supply the RV industry.
The Fishers Town Council last night approved rezoning a portion of land at the site of the proposed RiverPlace project to allow residential units in addition to an already planned retail and business district, according to WXIN-TV Fox 59. The development will be located at 96th Street and Allisonville Road. Plans for the site include […]
The Indiana Centers for Applied Protein Sciences, or INCAPS, has changed its name to Monarch LifeSciences LLC to emphasize its focus on proteomics. Monarch was chosen because proteins are of central significance in a caterpillar’s transformation into a monarch butterfly. The company offers protein and biomarker contract research and services to drug and biotech companies […]
Carmel bank software developer Baker Hill plans to announce at its 1 p.m. news conference that it will create between 100 and 200 jobs, according to a source familiar with the announcement. The company has 200 employees in Carmel and a handful in other states. Indiana Economic Development Corp. President Nate Feltman will be on […]
Subaru of America Inc. is updating the “It’s What Makes a Subaru, a Subaru” marketing campaign by keying on environmentally friendly operation of its car assembly plant in Lafayette. Among other points, the campaign says the Japanese-owned factory sent its last load of waste to a landfill three years ago, according to the Journal & […]
David Colby’s dealings with a California woman who recently sued him may have played a role in his ouster as WellPoint Inc.’s chief financial officer last Thursday. Bloomberg reported late Friday that the woman, Rita DiCarlo of Ventura County, Calif., charged in the lawsuit that Colby failed to follow through on a promise to give […]
Carmel bank software developer Baker Hill has scheduled a 1 p.m. economic development announcement with Indiana Economic Development Corp. President Nate Feltman. Local entrepreneur Mark Hill and other investors sold Baker Hill Corp. to Experian of Costa Mesa, Calif., in August 2005 for more than $75 million.
Stag Capital Partners has bought two warehouses and a property leased by a manufacturer-all in Lafayette, and totaling 466,400 square feet, the Boston company said. One warehouse is leased to Caterpillar Logistics Services Inc., a unit of Peoria, Ill.-based Caterpillar Inc., and the other is leased to New York-based Toyota Tsusho America Inc., also a […]
Locally based Kite Realty Group continued a strong run on the New York Stock Exchange this morning, gaining 28 cents to reach a 52-week high of $21.54. The stock has risen roughly 40 percent in the last 12 months, outpacing larger Indianapolis developers Simon Property Group and Duke Realty Corp. Simon is up 32 percent […]
A Florida-based Internet business owes refunds to an estimated 10,000 Hoosiers for placing charges and fees on their phone bills without authorization, Indianan Attorney General Steve Carter said today. Email Discount Network didn’t honor cancellation requests to the online shopping company, Carter said. The company charged $12.95 or $14.95 a month in return for coupons […]
Three months ago, WellPoint Inc. executives were making trips to California to politely discuss their concerns with Gov. Arnold Schwarzenegger’s universal health insurance plan. Apparently that didn’t work so well. Now, WellPoint’s subsidiary in California-Blue Cross of California-has launched a newspaper and TV campaign opposing Schwarzenegger’s plan because it would require insurers to sell policies […]
Emmis Communications Corp. has been downgraded by Bear Stearns & Co. to “underperform” from “peerperform.” The Wall Street investment firm said it based the decision on widespread speculation in “Radio Ink” and other trade press that CEO Jeff Smulyan will make another attempt to take the Indianapolis broadcaster private. The timing would be poor partly […]
Biomet Inc. has agreed to pay $600,000 in legal fees and make additional information available to shareholders in order to settle class-action lawsuit opposing its pending sale to a group of private equity firms, the Warsaw prosthetics maker said in a Securities and Exchange Commission filing yesterday. The settlement isn’t expected to affect the $10.9 […]
Alliance for Community Education, a not-for-profit that offers job training in Hancock County east of Indianapolis, faces an uncertain future because it is generating only $36,000 in annual revenue instead of the target income of $140,300. If more funding isn’t found, its resources will be drained by the end of the year, according to the […]
Robert Quadrozzi, a Massachusetts native credited with helping the east-central Indiana city of Portland fill an industrial park, died Thursday after his vehicle left the road near Muncie and smashed into a semi-trailer truck near a factory. Delaware County Coroner Scott Hahn told The Star-Press of Muncie that the 69-year-old was driving home after undergoing […]
Steak n Shake Co. said today it is using frying oil with no trans fat at its 478 restaurants, but it isn’t first to switch. Kentucky Fried Chicken and other companies have eliminated the unsaturated fat due to its reputation for raising cholesterol levels. Indianapolis-based Steak n Shake has introduced yogurt shakes, chicken sandwiches and […]
ABC earned a 4.6 overnight Nielsen rating for live television coverage of this year’s rain-delayed Indianapolis 500, from 1 p.m. to 3 p.m. eastern time and 6 p.m. to 7:15 p.m. That was down 8 percent from a 5.0 rating last year. Each rating point equals about 1 million households nationally. Fox’s coverage of NASCAR’s […]
The Indiana State Teachers Association Insurance Trust has agreed to co-brand its health insurance with Minnesota-based UnitedHealthcare. The deal gives UnitedHealthcare, the nation’s largest health insurer, access to the association’s 47,000 members. And it lets the teachers association’s insurance arm use UnitedHealthcare’s provider networks, internal computers systems and clinical services.
