Three counterfeit batches of Zyprexa, Eli Lilly and Co.’s blockbuster schizophrenia drug, have been discovered in the supply chain in the United Kingdom, according to Reuters. The product has been recalled by the U.K.’s Medicines and Healthcare Products Regulatory Agency to err on the side of caution even though the agency thinks only two batches […]
Several businesses have filed suit against the city of Fort Wayne in the hope of persuading a judge to declare a pending city-wide smoking ban unconstitutional. The business owners claim the ordinance is too broad, but the author, City Councilman John Crawford, says he is confident the suit will fail, according to The Journal Gazette […]
First-quarter profit fell to $7.3 million from $7.4 million a year earlier for Shoe Carnival Inc., the Evansville shoe retailer reported today. Comparable-store sales in the period ended April 29 dipped 3.7 percent. The company blamed the results on sluggish shoe sales across the industry.
Central Indiana Corporate Partnership Vice President Lee Lewellen is leaving the group over a transition ending July 31 to become senior vice president of community and regional development at Thomas P. Miller & Associates, the Greenfield consulting firm that wrote the state’s economic development plan. Lewellen, 54, spent most of his seven-year tenure at CICP heading research […]
3D Machine Inc. in Goodland will spend $3 million and create 27 jobs in an expansion, Indiana Economic Development Corp. said today. The northwest Indiana machined parts manufacturer received as much as $335,500 in state and local incentives. Family-owned 3D Machine supplies to Pitney Bowes Inc., the Stamford, Conn., mail- and message- equipment maker, among other customers.
Kevin B. Kelly has been named Economic Development Director for the city of Noblesville, Mayor John Ditslear announced today. The 47-year-old was president of the Illinois chapter of the Associated Builders and Contractors, based in Elgin, Ill. Kelly also has been mayor of the Chicago suburb and headed that city’s chamber of commerce.
Gerald R. Francis, who has engineered the sale of two Indiana banks to out-of-state concerns, has joined Financial Stocks Inc. of Cincinnati as managing director of its private equity group. Francis will identify and evaluate opportunities to recapitalize or turn around community banks and thrifts. Francis, who will work from Indianapolis, revived Kokomo-based First National […]
Sallie Mae parent SLM Corp. said late yesterday that CEO Thomas J. “Tim” Fitzpatrick had resigned and would be replaced by Executive Vice President and Chief Financial Officer C.E. Andrews. News outlets including The Wall Street Journal and Reuters reported that directors of the Reston, Va., student loan giant felt a fresh start was needed […]
Indianapolis-based Emmis Communications Corp. and Indianapolis Motor Speedway have signed a unique, exclusive deal that will allow Indianapolis 500 fans to answer trivia questions and make race and Carburetion Day predictions via their cell phones. Carb Day is Friday and the race is Sunday. Financial terms were not released, but sports marketers said it’s an […]
Wire-fraud charges against International Outsourcing Services have been dismissed by federal prosecutors after the Bloomington company’s new managers pledged to cooperate in the prosecutors’ case against 11 of its indicted officials.Topping the list of indicted executives are CEO Bruce A. Furr, Executive Vice President Lance Furr and Chief Financial Officer William L. Babler, all of […]
George Foreman, who twice won the world heavyweight boxing championship, has bought a part of Panther Racing, the Indianapolis company said today. Terms of the deal were not disclosed. Foreman will add savvy honed by years of involvement in professional sports, team owner John Barnes said in a statement. The Indy Racing League team has […]
Dallas added suites to its 2011 Super Bowl proposal at the 11th hour-a move that may have dealt a fatal blow to Indianapolis‘ bid to host the big game. Sources say Dallas viewed the additional suites as needed because of strong competition from Indianapolis. The suites will be used by the NFL to entertain guests […]
A giant book distributor has agreed to lease more than 500,000 square feet-an entire building-in Park 100. North Carolina-based Baker & Taylor, the world’s largest distributor of books, will take the entire Building 140 at 5045 W. 79th St. The building is owned by Prudential and managed and leased by locally based Duke. Jay Archer, […]
The Indianapolis committee bidding to host the 2011 Super Bowl has raised more than $25 million to pay for the event. The figure was a self-imposed goal, and has been funded entirely by private donations, said Baker & Daniels partner Fred Glass, who is helping head the team. A decision is expected this afternoon. Indianapolis […]
Eli Lilly and Co. could benefit from a recent New England Journal of Medicine report that Avandia, GlaxoSmithKline’s diabetes drug, might heighten the risk of heart attacks by 43 percent, according to Forbes. Lilly and a Japanese partner have developed Actos, which is similar to Avandia. However, unlike GlaxoSmithKline’s drug, Actos doesn’t make a big […]
A plastics-molding plant in the southwestern Indiana town of Mount Vernon has been bought as part of Saudi Basic Industries Corp.’s $11.6 billion acquisition of GE Plastics. The Saudi Arabian company is committed to the facility and its 1,450 workers, GE Plastics CEO Brian Gladden told the Evansville Courier & Press. Opened in 1960, the […]
Nikki Longworth no longer is executive director of Indianapolis City Market. Her departure ends a sometimes-controversial six-year tenure. A market employee confirmed the departure. Additional information was not immediately available. The market is in the midst of a $1.8 million renovation that is running behind schedule.
