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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 […]
The joint venture developing AllPoints Midwest industrial park said today it is starting construction on its first building—a warehouse. Duke Realty Corp. and Browning Investments Inc. said construction on the speculative 650,000-square-foot building will begin in February and finish in October, and could coincide with the opening of the Ronald Reagan Parkway. AllPoints adjoins the […]
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 […]
Fortville-based Genesis Manufacturing makes helmet pads for U.S. troops through Colorado-based Skydex Technologies, which
won a contract this fall with the U.S. Air Force for 120,000 helmet pad kits. Most of the helmets have wound up in Iraq, where
the military has discovered soldiers need something more than Kevlar-lined helmets to survive roadside mines and exploding
Toyotas.
The IUPUI Solution Center soon will expand into cyberspace, launching a free Web site not-for-profits can use to network and find consultants. Its new Nonprofit Solutions Initiative will run the site and provide a database of consultants grouped by 25 areas of expertise. The site also will offer advice on how to work with them. The Solution Center, launched in 2003 with the help of a Lilly Endowment Inc. grant, helps bolster small businesses and not-for-profits. The new initiative, which…
In a way, 2007 is starting off right where last year ended. Large-cap Chinese stocks (up about 25 percent since I mentioned them here in October) tore it up in the first day of trading. I don’t know how long these Chinese stocks can keep cranking, but I have a feeling that, by the end of this year, big-cap stocks in America will have outperformed most foreign markets, including China. Keeping an eye on expectations can be a great way…
It’s a week past the appropriate time to be writing about New Year’s resolutions, but from the feel of traffic heading in and out of town during rush hour, it appears a number of folks are still on vacation. I think the vast majority of us are ready now to get back down to business, so I feel justified in my timing. Therefore, be it resolved: Mayor Bart Peterson and Marion County Prosecutor Carl Brizzi should continue to address the…
Reeling in 45-inch northern pike during annual fishing excursions to the upper regions of Canada is one type of bonding experience Don and Greg Goelzer cherish. But the camaraderie the father and son share really is rooted in the 25 years they have spent working side by side at Goelzer Investment Management Inc., the downtown advisory firm Don founded in 1969. In the quarter-century since son Greg arrived fresh from college, the two have helped grow the firm’s client base…
