Haynes International Inc.’s long-expected initial public offering has generated $136.5 million that the Kokomo company plans to spend mostly to pay off debt and buy capital equipment. The 2.1 million shares sold at $65 each, above the forecasted $61 to $64, Reuters reported. Haynes, which has asked to be traded on NASDAQ under the ticker […]
Triad Hospitals Inc., which owns seven hospitals in northern Indiana, has received a buyout offer from Tennessee-based Community Health Systems Inc. that beats an earlier offer from a group of private equity firms. Community Health Systems said today it is offering $5.1 billion. A group that includes affiliates of Goldman Sachs and JPMorgan Chase & […]
Indianapolis Colts quarterback Peyton Manning is the second-most marketable active athlete, according to a survey of 65 sports business and media executives by Street & Smith’s Sports Business Daily. Manning, who has endorsement deals with Sony, Reebok and Gatorade among others, rated 208 of a possible 325 points—following only the 280 points garnered in the […]
Plenty of conflicting trends are apparent when examining success of the state’s business owners, according to Morton Marcus, emeritus director of the Indiana Business Research Center at Indiana University. A lack of data makes detailed comparisons all but impossible, Marcus wrote in a column that is distributed to Indiana newspapers, including IBJ. Still, he said […]
Honda Manufacturing of Indiana LLC said today its new Greensburg plant will make Civic sedans when it opens in fall 2008. The Japanese automaker announced in mid 2006 it would build the $550 million plant, but hadn’t revealed which vehicle line the would be assembled. As part of today’s groundbreaking ceremony, Honda also said Yuzo […]
The American Basketball Association is nearing one of its major goals for the 2006-07 season—and it has nothing to do with on-court wins and losses. Officials for the Indianapolis-based professional basketball league announced today they have signed a letter of intent with Miami-based International Apparel Group Inc. to create ABA Apparel LLC. ABA Apparel will […]
CSO Architects President Jim Schellinger has issued a statement saying he will file paperwork at 12:45 p.m. to establish a campaign committee to run for governor. A Democrat, the South Bend native is considered by many observers to be the best chance the party has to unseat incumbent Republican Mitch Daniels in the 2008 election. […]
CSO Architects Inc. is reverting to its original name two years after adding Schenkel Shultz to its name to reflect its acquisition of the Indianapolis office of Fort Wayne-based SchenkelSchultz Architecture. Removing the name was based on previous agreement, said Indianapolis-based CSO.
Construction on a hotel Fishers-based Dora Bros. Hospitality Corp. is building in downtown Columbus can resume, now that Sears, Roebuck & Co. has withdrawn part of a lawsuit it filed in November. But the retail giant still wants monetary damages, according to The Republic of Columbus. Sears, based in Hoffman Estates, Ill., claims construction on […]
Shrinking advertising revenue has persuaded the owners of Indy Men’s Magazine to stop publishing the free, glossy monthly after five years. Publisher Todd Tobias said the final, May issue will be distributed in late April: “As a monthly print publication, we’re done,” he said. Magazine parent Table Moose Media LLC is owned by Tobias, his […]
Indianapolis law firm Ice Miller has added two lawyers to its Washington, D.C., office who will offer legal services as well as lobbying—a first for the firm at the federal level. Graham Hill and Clayton Heil replace attorneys who left. Ice Miller is the largest law firm in the Indianapolis area, with 234 attorneys, according […]
Publicly traded health insurers, such as Indianapolis-based WellPoint Inc., received lower marks from their customers than did not-for-profit health plans in a recent survey by J.D. Power & Associates. Not-for-profit plans rated higher in coverage allowed, level of benefits, and choice of doctors and hospitals, Bloomberg reports. The survey questioned more than 10,000 customers across […]
Oxford BioSignals Medical is expected to announce an expansion of its Carmel headquarters this afternoon, according to Indiana Economic Development Corp. Oxford has seven employees. Formed in 2000, Oxford BioSignals began its life when research scientists in the United Kingdom developed a new system to electronically monitor the performance of aircraft engines. By continuously monitoring […]
Morris D. Windhorst, who led an economic development organization in Muncie in 2004 and 2005, yesterday pleaded guilty to two counts of possessing child pornography, according to The Star Press of Muncie. Police found child pornography on Windhorst’s home computer in February last year after he was arrested for proposing sex in an Internet chat […]
The $100 million gift to Purdue University that’s scheduled to be announced this morning will generate enough income to double the university’s spending on technology transfer, the process of shifting laboratory discoveries into products that can be sold by companies. Income expected to be created by the endowment from Mann Foundation for Biomedical Engineering is […]
Noble Roman’s Inc. reported $1.9 million in profit for 2006, down from $2.9 million in the prior year. However, the Indianapolis company benefited in 2005 from a $1 million one-time settlement from SummitBridge National Investments LLC. The company, which franchises Noble Roman’s Pizza and Tuscano’s Italian Style Subs restaurants, has announced area development agreements in recent […]
Eli Lilly and Co. is among 11 companies singled out by the mammoth California Public Employee Retirement System for “dismal stock performance” and poor corporate governance, according to Bloomberg. Lilly landed on Calpers’ annual “Focus List” for not allowing shareholders to amend company bylaws and by having tiers of board members that prevent the board […]
Evansville-based Shoe Carnival Inc. today reported profit of $5.1 million in the fourth quarter ended Feb. 3, up from $3 million a year earlier. Sales rose 8.3 percent, to $177.2 million. For the fiscal year, profit increased 26.5 percent, to $23.8 million, and sales grew 4 percent to $681.7 million. Same-store sales fell 0.9 percent […]
One of two finalists vying to become the next president of Ivy Tech Community College said two members of the administration of Gov. Mitch Daniels told him he is not the governor’s preferred candidate. Thomas P. Snyder, a former executive at Remy International Inc. in Anderson and currently chairman of Flagship Enterprise Systems Center, an […]
When Purdue University announces tomorrow it has received its largest single research gift, the school will further cement its role in boosting the state’s economy, one expert says. “One of the biggest discoveries of economic impact studies between schools and the economy is the school’s role in commercialization,” said Patrick Barkey, an economist and director […]
