Consumers snapped up Toyota Motor Corp. vehicles in the first quarter to catapult the Japanese company past General Motors Corp. on a global basis for the first time. Toyota sold 2.35 million vehicles compared to 2.26 million for GM to become the world’s largest automaker in the period, according to Market Watch. Among the Toyotas […]
Edward J. Bonach has been tapped to replace Conseco Inc. Chief Financial Officer Eugene M. Bullis, who is retiring after seeing the Carmel insurer through its bankruptcy reorganization. Bonach was executive vice president and CFO of National Life Group, headquartered in Montpelier, Vt. Prior to National Life, Bonach spent 23 years at Allianz Life of […]
A buy recommendation from CNBC “Mad Money” host Jim Cramer caused Cummins Inc. stock to shoot up $7.89 per share today. The 10 percent run-up is the largest increase in one day the Columbus diesel engine maker experienced in almost four years, according to Bloomberg. His recommendation came during a show broadcast April 20. When […]
Summer travel could become pricey if Americans don’t lose their appetite for gasoline. Demand is rising at twice the rate of a year ago, according to Bloomberg. Meanwhile, refinery fires, maintenance and electrical failures have reduced inventories to the lowest point in two decades, based on days of demand in reserve. The upshot is that […]
Development plans could be in the works for another large piece of land along Michigan Road. The 18-acre North Park Masonic Lodge property at 5555 Michigan Road is under contract. Read more.
Businesses, including Indianapolis-based Eli Lilly and Co., have poured $1.7 million into coffers of chairmen of U.S. House of Representative committees since the start of the year. That’s nearly twice as much as corporations gave when Republicans controlled the House during the same stretch of 2005, according to Bloomberg. Interests including pharmaceutical makers, like Lilly, […]
Bank of America likely will boost small-business lending in the Indianapolis area if it follows through on its $16 billion acquisition of LaSalle Bank, banking observers say. However, they believe it would delay building a retail branch network until it could buy another bank with an established branch presence, local experts say. Jim Young, CEO […]
A big Emmis Communications Corp. investor suggested in a regulatory filing today that the Indianapolis company should sell trophy radio properties to unlock value for shareholders. Elkhart-based Martin Capital Management responded to growing rumors on Wall Street that Emmis is considering selling New York City’s WQCD-FM 101.9, an underperforming smooth jazz station. CL King & […]
Community Health Network and Regenstrief Center for Healthcare Engineering at Purdue University announced this morning a $1.5 million strategic partnership to identify research opportunities for improving health care delivery. Details will be announced at 1:30 p.m. today at a conference on Purdue’s West Lafayette campus. Indianapolis-based Community employs more than 10,000 people at its five […]
The planned acquisition of LaSalle Bank by Bank of America announced this morning would likely mean an expansion of small-business lending in Indianapolis, said a banker who competes in the market. Jim Young, president and CEO of Indiana Business Bank, said Bank of America would build on the foothold established in Indianapolis by Chicago-based LaSalle. […]
Genesco Inc., the Nashville, Tenn., parent of Indianapolis-based Hat World, has rejected the $1.2 billion buyout offer extended by Foot Locker Inc. on Friday. Genesco directors voted unanimously that the bid of $46 per share from the New York shoe retailer “is not in the best interests of the company’s shareholders,” the company announced this […]
Hhgregg Inc. has committed to negotiating a contract with Zimmerman Advertising of Fort Lauderdale, Fla., to take over one of Indiana’s largest advertising accounts, the Indianapolis company said today. The agency that handled the account for 24 years, Pearson McMahon Fletcher England in Indianapolis, decided earlier this year to not pursue the contract. Gregg said […]
LaSalle Bank, which has offices downtown and in Carmel, will be spun off by its Dutch Parent, ABN Amro, to Charlotte, N.C.-based Bank of America for $21 billion as part of a larger deal considered to be the world’s biggest financial-services takeover. ABN Amro this morning said it would back a $91 billion acquisition offer […]
TechPoint today announced the finalists for its 2007 Mira Awards, which honor the top performers in technology-related industries. Finalists were broken down into 12 categories covering the information technology, life science and advanced manufacturing industries; educators also will be honored for their contributions to high-tech business. Winners will be recognized at a banquet […]
Subaru of Indiana Automotive Inc. is slated to begin producing the Toyota Camry at its Lafayette plant today, according to the Journal & Courier of Lafayette. Toyota partnered with Subaru to take advantage of an available assembly line to ramp up production of the popular sedan. In coming months, 1,000 workers will turn out an […]
Shares of Tennessee-based Genesco Inc.—parent of Indianapolis-based Hat World—rocketed higher this morning after New York-based Foot Locker Inc. offered $1.2 billion for Genesco. Genesco owns several other chains, including Journeys and Johnston & Murphy. Hat World, which has more than 700 locations, accounted for about 23 percent of Genesco’s $1.46 billion in sales in […]
New York-based Foot Locker Inc. this morning offered to buy Tennessee-based Genesco Inc. for $1.2 billion—a deal apparently driven by Foot Locker’s desire to gain ownership of Genesco’s Indianapolis-based Hat World unit. Talk of a possible deal has been brewing for weeks. Women’s Wear Daily reported last month that Foot Locker planned to open its […]
The $560 million transmission plant Tipton-area residents hope to lure to their city north of Hamilton County would make units for a minivan Chrysler plans to roll out for the 2010 model year, according to the Kokomo Tribune. Production of Getrag transmission production would begin in February 2009, with an anticipated annual rate of 400,000 […]
Vestil Manufacturing Co., which makes industrial materials handling equipment in the northeastern Indiana city of Angola, will boost its work force nearly 50 percent, the Indiana Economic Development Corp. said today. The addition of 104 jobs comes through an $8.2 million investment supported with $2.2 million in economic development incentives. Construction on the manufacturing plant […]
IndyPartnership, the not-for-profit that markets central Indiana to prospective businesses, will keep its brand name and sales mission in a merger its board approved today with Central Indiana Corporate Partnership, another non-profit that represents CEOs of Indiana’s largest corporations. The parties also agreed to carve out a separate economic development organization for Marion County, said […]
