Rich Pegram, who suddenly left as general manager of WTHR-TV Channel 13 in November, has joined a Tampa, Fla., television station as vice president and general manager. The Tampa station, WFTS-TV Channel 28, is owned by Cincinnati-based The E.W. Scripps Co. WTHR is owned by the Wolfe family of Columbus, Ohio. “His trophy case is […]
The strike at Detroit-based American Axle and Manufacturing Holdings Inc. was a drag on Indiana employment in April, according to the Indiana Department of Workforce Development. Overall employment of 2.98 million was down 3,100 from March but up slightly from a year earlier, the agency reported late last week. The agency estimates that the 12-week-old […]
A $1 million contribution by Forest Lucas has brought private-sector giving for Indianapolis’ 2012 Super Bowl bid to the $25 million goal. The owner of Lucas Oil Products Inc. spent $122 million for naming rights to Lucas Oil Stadium, which will replace the RCA Dome at the start of the Indianapolis Colts season this fall. […]
Two of three local Eli Lilly and Co. employees plan to fan out across the Indianapolis area tomorrow to help clean and fix up the area. The pharmaceutical maker’s first Global Day of Service will involve 8,400 workers’ delving into projects that include planting trees, clearing weeds from parks and framing Habitat for Humanity houses. […]
An Indianapolis plant that makes equipment to spray polyurethane on boats, water towers and other objects will close by the end of the year, its new owner says. Fifty-five workers will lose their jobs at the northwest-side GlasCraft plant, which was owned by Indianapolis-based Cohesant Technologies Inc. until the company was acquired in December by […]
A program rolled out yesterday by State Treasurer Richard Mourdock aims to encourage more Indiana business owners to sell companies to their employees. The Treasurer’s Office will subsidize banks for loans used in transitions to employee stock ownership plans, or ESOPs. Taxpayers will more than recoup the program’s annual cost of $500,000 a year because […]
Airleaf LLC, a Martinsville book publisher formerly known as Bookman Publishing LLC, has been sued by Indiana Attorney General Steve Carter for allegedly failing to follow through on agreements to publish and promote customers’ books and reimburse royalties. Included in the suit is Airleaf owner Carl Lau. Filed in Morgan Circuit Court, the suit seeks […]
Calumet Specialty Products Partners LP late yesterday reported a $3.4 million loss in its first quarter after having posted a $28.2 million profit a year earlier. The Indianapolis company, which processes crude oil into lubricating oils, solvents and other products, blamed the result on skyrocketing oil prices. Calumet’s specialty products segment was hit hard because […]
Indianapolis-based The Finish Line Inc. and Nike Inc. are opening a concept store in the Phoenix area catering to young runners and athletes in training, the companies said today. The store, to be called Finish Line Ltd., will be divided into segments focusing on running, sport style and training, and will specialize in shoes, clothing […]
Plainfield-based Brightpoint Inc. said yesterday it has inked a distribution deal with Research In Motion, the company that designs, manufactures and distributes the BlackBerry smart phone, to distribute the BlackBerry globally. Brightpoint wouldn’t discuss the scale of the deal. However, spokesman Anurag Gupta said RIM will help Brightpoint expand to 8 percent to 9 percent […]
The abrupt slowdown in merger-and-acquisition activity shouldn’t be confused with a poor economy, say some Indiana professionals who specialize in the work. Aside from a few hard-hit industries such as housing and retail, most sectors of the economy are fairly healthy, the observers say. And many think the low point of the economic downturn might […]
Shares of Wabash National Corp. plummeted 15 percent today after the Lafayette-based truck-trailer manufacturer reported more red ink than analysts expected. The stock fell $1.50, to $8.50, by mid-afternoon. Wabash said it lost $6.4 million in the first quarter, a reversal from a $1 million profit a year earlier. The loss amounted to 21 cents […]
Truck trailer manufacturer Wabash National Corp. reported a $6.4 million loss in its first quarter, down from a $1 million profit a year earlier. The loss amounted to 21 cents a share, more than the 14-cent loss anticipated by analysts surveyed by Thomson Financial. New trailer sales plummeted 43 percent, to 6,300 units, in the […]
Shares of Old National Bancorp shot up more than 8 percent this morning after the Evansville bank reported that first-quarter profit increased 81 percent. Old National said it earned $19.3 million, or 29 cents per share – more than double the 14 cents expected by analysts surveyed by Thomson Financial. The bank, which has several […]
An attempt to improve efficiency of train maintenance has prompted Amtrak to relocate 80 positions away from its long-time maintenance hub in Beech Grove. Fifty-three positions specializing in wheels will be moved to Chicago and 27positions with locomotives will go to Wilmington, Del., said spokesman Marc Magliari. After the restructuring, 475 workers will remain at […]
Citation Corp. said today it will close its aluminum molding foundry in the northeast Indiana town of Butler, costing 138 workers their jobs. The Novi, Mich., company said the closing, which begins in May, will allow it to focus on its ductile iron and die casting businesses. It also operates in Alabama, North Carolina and […]
Indianapolis-based Republic Airways Holdings Inc. generated $20.2 million in profit in the first quarter, a slight increase from the $19.3 million from a year earlier. Excluding a loss on an interest rate transaction and a reserve on accounts receivables from Frontier Airlines, which filed for Chapter 11 bankruptcy protection April 10, Republic profit came to […]
Profit at Celadon Group Inc. plunged to $1.1 million in its third fiscal quarter, from $6.6 million a year earlier, the Indianapolis trucking firm announced yesterday. The penny of profit per share in the quarter ended March 31 was well under the 6 cents anticipated by analysts surveyed by Thomson Financial. Skyrocketing diesel fuel prices […]
The California Public Employees’ Retirement System, the nation’s largest public pension fund, said yesterday it has backing from four major proxy advisory services for a resolution that would require only a simple majority vote of Lilly shareholders to amend the company’s bylaws. Endorsing the giant pension fund’s shareholder resolution are Egan-Jones, Glass Lewis, RiskMetrics Group […]
A West Lafayette research building used until a couple of years ago by Elkhart-based CTS Corp. has been acquired by a startup real estate company. The company, Indiana Technology Group LLC, is headquartered in West Lafayette. It is owned by five individuals, including principal and spokesman Ahmed Alsoffi, a long-time West Lafayette businessman. Other owners […]
