Emmis Communications Inc. reported $900,000 in profit in the third quarter ended Nov. 30. That was down from $198.8 million in the same period a year earlier, which included $198 million from discontinued operations. Operating income dropped 28.4 percent, to $17.5 million. The Indianapolis-based broadcasting company blamed the results on weakness in its New York […]
City and economic development officials in Terre Haute want to reroute railroad traffic out of the western Indiana city to an 8,000-acre site east of town near Interstate 70. Mayor Kevin Burke, who announced the proposed Hoosier Inland Port on Monday, said the site near Terre Haute International Airport-Hulman Field would be a hub for […]
HealthCor Management, which owns 5.2 percent of Icos Corp., said Monday it will vote against Eli Lilly and Co.’s sweetened offer of $34 per share for the maker of the erectile dysfunction drug Cialis. HealthCor complained that Lilly’s second offer doesn’t compensate for improved financial projections for the Bothell, Wash., company, according to The Seattle […]
How warm was December? Citizens Gas & Coke Utility says the average residential gas bill fell 21.6 percent from the same month in 2005, to $148.16. Indianapolis homes used an average of 123 British thermal units of natural gas energy compared to the 158.6 units of a year earlier, the utility said. That’s down […]
A big Emmis Communications Corp. investor has submitted a proposal to shareholders to do away with a special class of stock that gives shares held by CEO Jeff Smulyan extra voting power. The proposal—disclosed in the company’s proxy statement filed with the Securities and Exchange Commission this morning—was submitted by Frank Martin, whose Elkhart-based Martin […]
Eli Lilly and Co. has agreed to fund a second manufacturing line at an Alkeres Inc. plant to make its Inhaled Insulin System powder. Lilly’s system, to be marketed as an alternative for types 1 and 2 diabetes, is in phase 3 clinical trials. The deal also makes Cambridge, Mass.-based Alkeres the exclusive manufacturer of […]
MDwise Inc., a locally based not-for-profit health care provider mostly for low-income individuals, has acquired IU Health Plan from IU Health Inc. for an undisclosed amount. IU Health is a health care network commonly known as IU Medical Group Primary Care or IUMG. MDwise will assume IUHP’s HMO network and become a member of the […]
United Van Lines, the Missouri-based moving company, said today that a smaller proportion of its customers left Indiana last year than in any year since 1993. United counted 3,871 customers leaving Indiana compared to 2,780 moving into the state—meaning 58.2 percent of all moves were outbound. That’s the best the state has experienced since the […]
WellPoint calls for expanded government health insuranceWellPoint Inc. this morning called for expanding government programs and public-private partnerships as part of a plan to provide health insurance coverage for the uninsured. The Indianapolis insurer supports broadening state health care programs that cover uninsured children. WellPoint also advocates expanding programs that cover children in families earning […]
Ivy Tech Community College has received $1 million from the Joyce Foundation to help the school expand its offerings for low-skilled adults. The money will be paired with a partnership with the Indiana Department of Workforce Development to help full-time workers complete an intensive part-time school schedule.
The United Way of Central Indiana has received a $20 million grant from Lilly Endowment Inc. to expand United Way’s capital improvement program. Funds from that program have been used to renovate and expand partner facilities and services.
ChaCha, the Internet search engine co-founded by Carmel tech entrepreneur Scott Jones received commitments of $6 million in private financing last year from investors including Jeff Bezos, who started Amazon.com. Other investors in the Indianapolis start-up are Compaq Computer founding CEO Rod Canion and Jack Gill, who co-founded of the Palo Alto, Calif., venture capital […]
Truck makers might slow production and lay off employees this year if trucking companies lift the throttle on purchases, as many experts anticipate. Trucking firms scrambled to stock up on tractors before Jan. 1 this year to avoid paying the extra $9,000 or more associated with cleaner-burning diesel engines mandated by environmental regulations. International Truck […]
A strategic plan written for the Northwest Indiana Regional Development Authority to redevelop the area would cost $4.1 billion if its board and state officials approve, according to The Times of Munster. The plan, to be unveiled Tuesday, calls for condos along Lake Michigan, new commuter rail service, more bus transportation and an airport that […]
The building committee of the Indianapolis-Marion County Public has voted unanimously to move its branch out of Glendale Mall—a potential blow to Kite Realty Group’s attempt to redevelop the site into an open-air mall. The library announced this afternoon that the new configuration wouldn’t be conducive to patron access and would make moving materials more […]
IMMI, a Westfield company that makes buckles, harnesses and other components for child car seats, said none of the seats using its parts failed a recent test by Consumer Reports. The not-for-profit watchdog group said this week that it could recommend only two of 12 infant seats it tested. Infant seats face to the rear […]
ATA Airlines said today it is filling more seats on its aircraft. The Indianapolis-based carrier said its scheduled service passenger load factor increased 3.3 points, to 79.1 percent, compared with December 2005. Scheduled service traffic was down 15.4 percent and total passengers fell 32 percent, to 217,029, in December. But comparisons are difficult because ATA […]
Harris has closed its $290 million acquisition of First National Bank & Trust, the Kokomo bank owned by the Hasten family of Indianapolis, the Chicago institution announced today. Harris is the U.S. arm of Bank of Montreal in Canada. It said in September it bought First National as part of a strategy to expand personal […]
A confined feeding operation specializing in calves up to 90 days old has been approved 4-1 by the Jasper County Board. Wolf Creek Calf Co. agreed to dust and odor controls before being allowed to proceed with plans to inventory as many as 10,000 head on the property at a given time, according to the […]
Semafore Pharmaceuticals Inc. has raised $9.5 million in equity partly to finance Phase I clinical tests of its cancer treatment. The start-up Indianapolis drug developer said both existing and new investors were involved in the infusion, and that the funding would be paired with $4 million received last year from the state’s 21st Century Research […]
