Helio case could engulf NASCAR
Indy Racing League officials are about to find out if the old adage “There is no bad PR” holds true. The tax dodging scandal involving Helio Castroneves is about to get ugly. Very,…
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Lilly cancer drug deal worth up to $520M
Indianapolis-based Eli Lilly and Co. will pay privately held Deciphera Pharmaceuticals LLC of Lawrence, Kan., as much as $520 million to develop and win regulatory approval for four types of cancer drugs, Bloomberg News reported.The companies will collaborate to develop cancer drugs using a Deciphera discovery that seeks to inhibit an enzyme linked to cancer […]
Still no agreement for Lin TV, Bright House
Officials with Rhode Island-based Lin TV Corp., the parent company of WISH-TV Channel 8, and Bright House Networks were still huddled together as of 11 a.m. trying to iron out an agreement that would put the local channel back on the cable dial.Officials for Bright House-which has 125,000 central Indiana subscribers-have refused to pay what […]
Denver sniffing at Tinsley
At last, there could be a team interested in trading for Indiana Pacers castaway guard Jamal Tinsley. League sources said the Denver Nuggets are interested. Nuggets officials like Tinsley’s defense and think he…
Finish Line CEO, co-founder to retire
The co-founder of The Finish Line Inc. plans to step down as CEO in December, the locally based athletic apparel retailer said this morning. Alan H. Cohen will retire on Dec. 1, after 32 years at the company. He’ll remain as the chairman of the board.Glenn S. Lyon, Finish Line’s president, will assume the role […]
What new TV season?
The fall TV series is off and running. Well, not running. Stumbling is a better word.
What used to be an exciting time in TV land is now, well, just ask yourself when the last time was that people in your…
WISH-TV signals go silent on Bright House cable
Bright House Networks has stopped transmitting signals of three local TV stations owned by Lin TV Corp., including WISH-TV Channel 8, after the parties failed to agree to extend their current deal. Rhode Island-based Lin, which also owns WNDY-TV Channel 23 and WIIH-TV Channel 17, had complained that Bright House refused to negotiate. Bright House, […]
Work caused your injury? Prove it
The Indiana Court of Appeals ruled this week that an amendment passed by the Indiana General Assembly in 2006 puts the onus on employees to prove workplace injuries were caused by work conditions and not their existing medical conditions. The unanimous decision affirmed the intent of the Legislature to shift the burden of proof to […]
August home sales plummet
Sales of houses in the Indianapolis area dropped nearly 18 percent in August compared with the same month a year earlier, according to the Metropolitan Indianapolis Board of Realtors. The 13-county region generated 2,350 sales compared to 2,852 in August of 2007 year and 3,204 in the same month in 2006. The decline wasn’t just […]
Credit mess puts Ralston on hold
A $60 million project slated for South Street between Meridian and Pennsylvania streets is on hold until credit markets return to some semblance of normal, the developer…
Purdue scores high among exec MBA programs
Purdue University’s executive MBA program, which is tailored for professionals returning for an advanced degree, placed 21st in the nation in The Wall Street Journal’s first such ranking. Purdue’s Krannert School was the only program in the state to make the list of the top 25 universities. Northwestern’s Kellogg School of Management placed No. 1, […]
Purdue expert: Retailers may see bleak Christmas
Talk about a lump of coal. Purdue University retail expert Richard Feinberg said this morning that retailers might face their worst Christmas season in 15 years. A best-case scenario would be for sales this year to be 2 percent higher than last year, said Feinberg, who directs the university’s Center for Customer-Driven Quality. However, he […]
Lilly, ImClone shares steady amid merger talk
Stock in Indianapolis-based Eli Lilly and Co. and ImClone Systems Inc. fell slightly today – a day after reports surfaced that Lilly has made a $6.1 billion offer for the New York-based cancer drug developer. Lilly shares fell 40 cents to $43.30, and ImClone stock slipped 11 cents to $65.24. The declines came on a […]
Kite Realty raises $50M in stock offering
Community shopping center developer Kite Realty Group Trust said today that it has raised about $50 million by selling stock, a move the company says positions it to pursue growth opportunities. The offering met with strong demand from investors. The Indianapolis-based company sold 4.7 million shares, 1.7 million more than the minimum it hoped to […]
Texas jury slaps Celadon with $1.5M judgment
Celadon Group today said it is considering its legal options following a $1.5 million judgment handed down by a jury in Ellis County, Texas, over a 2006 lane-change accident that injured two motorists. A truck operated by Celadon Trucking struck a vehicle carrying two men from Austin, Texas, on Interstate 35 near Waxahachie. Chairman and […]
Indiana an auto state? Now chemicals are king
After 12 years of leading Indiana’s bread-and-butter manufacturing industry, carmaking has taken a second-row seat. Chemicals have grown to become the biggest segment within manufacturing, according to a new study by the Indiana Business Research Center. Chemicals-defined by government statisticians to include pharmaceuticals-dislodged automaking in 2004. Study author Timothy Slaper thinks the trend will last […]
Pacers reacting to economic crunch
Let it not be said that the Indiana Pacers are not community minded. Team officials yesterday released several initiatives the team recently has launched to reach out to fans during these “difficult economic…
ImClone: Suitor due diligence finished
ImClone Systems Inc., the New York cancer drug developer said to be in talks to be acquired by Indianapolis-based Eli Lilly and Co., disclosed late yesterday that the suitor had “completed due diligence and made a proposal not subject to financing or further due diligence.” ImClone didn’t identify the suitor, but said it is a […]
$159M Pac-Van acquisition closes
General Finance Corp. said yesterday that it has closed its $159 million purchase of Pac-Van Inc., the Indianapolis company that leases mobile offices and storage units. Pasadena, Calif.-based General Finance announced in July that its GFN North America Corp. arm would acquire Pac-Van parent Mobile Office Acquisition Corp. to enter the North American market for […]
Report: Lilly offers $6.1B for ImClone
Eli Lilly and Co. is in late talks to acquire ImClone Systems Inc. for $6.1 billion, according to a report on The Wall Street Journal’s Web site. The New York biotech firm develops various medicines for cancer treatments. Lilly would pay $70 per share for ImClone, the Journal said. The deal would be one of […]