Delta Faucet, which is headquartered in Carmel, laid off 70 full-time and temporary workers at its sprawling Greensburg plant due to anticipated softness in house construction. The action followed a December layoff of 59 temp workers. The company, owned by Masco Corp. of Taylor, Mich., attempted to tamp down festering fears of an outright closure […]
Vectren Corp., the Evansville-based natural gas utility that serves much of central Indiana outside of Marion County, said profit fell 31.3 percent, to $34.9 million, in the fourth quarter. The decline was blamed on customers using less gas and settling a lawsuit with ProLiance Energy LLC. For the year, profit fell to $108.8 million from […]
Esco Communications Inc., which is installing the sound system in Lucas Oil Stadium, is showing its blue-blood support of the Indianapolis Colts in more ways than sponsoring a Blue Friday this Friday. The Indianapolis company is offering its 140 workers a paid day off after the Sunday’s game.
New government figures show wages earned by Hoosiers are not growing as quickly as Americans’ wages as a whole. Average compensation per job in Indiana increased 2.9 percent in 2005, to $44,095, according to Morton Marcus, formerly director of the Indiana Business Research Center at Indiana University. The figures are the latest available for a […]
Virtually all—99.8 percent—of St. Joseph Capital Bank shareholders voted in favor of merging with Old National Bancorp of Evansville, according to the South Bend Tribune. Old National offered $75.6 million for the Mishawaka institution, which has $500 million in assets and 70 full-time equivalent positions.
A downturn in the truck industry and completion of an engineering program has prompted International Truck and Engine Corp. to cut 140 jobs from its Truck Development and Technology Center in Fort Wayne. The Warrenville, Ill., maker of medium- and heavy-duty trucks said 35 of the workers accepted voluntary buyouts in November and that positions […]
A recent $404 million judgment against NiSource Inc. could hurt the Merrillville-based company’s credit rating if it’s not set aside by the court or overturned on appeal, Standard & Poor’s Rating Services said today. NiSource has said it would appeal the West Virginia jury verdict. The case, brought by several natural gas royalty owners, alleged […]
Government and industry officials are planning a news conference Wednesday to announce an 800-acre, $30 million expansion of Rockport River Terminals, a privately-owned shipping terminal on the Ohio River east of Evansville. The project is expected to be the initial salvo in an ongoing expansion. Wednesday’s announcement will focus on expanding the terminal to handle […]
JPMorgan Chase & Co. plans to hire 50 workers in the next three months to staff new and existing central Indiana bank branches. The jobs are in addition to the 175 workers Chase said in November it would add to its education unit’s call center and private education origination department.
Cook Pharmica LLC has landed its first contract—small-scale manufacturing of bacterial-produced proteins related to biotechnology-based crops. Financial details of the deal with St. Louis-based Monsanto Co. were not disclosed. Cook Pharmica, founded in Bloomington in 2004, is the contract biopharmaceutical manufacturing unit of Cook Medical Inc.
Commercial and residential development near the Honda Motor Co. car assembly plant at Greensburg has been thrown into limbo because of a dispute over who will control water lines in the development area. Decatur County Rural Water Corp., the water district that serves the development area, relies on water supplied by the city of […]
Indiana Michigan Power Co. is negotiating with Jay County landowners to build windmills to test the area’s ability to generate electricity. I&M, based in Fort Wayne and owned by American Electric Power of Columbus, Ohio, might invest as much as $175 million in the Jay County area, according to The Commercial Review of Portland. Relatively high wind […]
Profit for Zimmer Holdings Inc. increased 22.6 percent in the fourth quarter, to $244.7 million, the Warsaw prosthetics maker reported today. For the year, profit was up 13.9 percent, to $834.5 million, as a stream of new products drove sales. One new product, Gender Solutions, is a knee replacement designed for women.
Government and industry officials are planning a news conference Wednesday to announce an 800-acre, $30 million expansion of Rockport River Terminals, a privately-owned shipping terminal on the Ohio River east of Evansville. The project is expected to be an initial salvo in an ongoing expansion. Wednesday’s announcement will discuss adding the capability of handling steel […]
The Indianapolis environmental consulting firm Allegiant Global Services is about to announce that it will hire 123 workers—mostly consultants—over three years, according to Indy Partnership. The jobs will pay an average of $26 an hour, about $7 more than the Marion County average. The former Heritage Interactive Services, 8720 Robbins Road on the far northwest […]
Macquarie, the Australian bank that teamed with a Spanish company last year to lease the Indiana Toll Road, has bought the publisher of 40 newspapers in Texas and Oklahoma. Perhaps not so coincidentally, note critics, the American Consolidated Media papers criticized Macquarie’s plans to build a 4,000-mile toll road across Texas. Macquarie said its initial, […]
A global survey by the British newspaper The Financial Times landed three MBA programs at Indiana universities in the top 100. Purdue’s Krannert ranked 48th, and Mendoza at Notre Dame and Kelley at Indiana tied for 65th. Five criteria including salaries, alumni satisfaction and gender diversity were considered. Wharton school at the University of Pennsylvania […]
Columbus diesel engine maker Cummins Inc. reported $1.2 billion in profit for 2006, the third year in a row of record earnings. The 30-percent increase resulted from strong sales in its engine and power generation units. For the fourth quarter, profit of $189 million was up 13.2 percent. Without elaborating, CEO Tim Solso said the […]
US Airways Inc. has told the creditors committee of bankrupt Delta Air Lines Inc. that it will boost its $9.8 billion hostile takeover by $1 billion if the committee demands Delta allow US Airways to conduct due diligence, according to The Wall Street Journal, quoting unnamed sources. Delta also would have to postpone a Feb. […]
Comparing Chicago and Indianapolis corporate powerhouses in a financial Super Bowl is no contest, says Kiplinger, the personal finance and business forecast organization. Chicago wins by more than a touchdown. Both cities are economically diverse. In fact, Kiplinger noted, the cities are more alike than different when size and lake frontage are taken out of […]
