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Haynes International Inc., a Kokomo company that makes specialized alloy parts used in corrosive and high-temperature conditions, saw its stock price explode this morning after it reported a jump in profit late yesterday and an analyst upgraded his recommendation. The shares traded up 25 percent, to $54.25 each. Haynes said profit in its third fiscal […]
Schwab Corp., a Lafayette company founded shortly after the Civil War, has been acquired by another manufacturer of safes, Rochester, N.Y.-based SentrySafe, for an undisclosed price. Schwab employs 105, including 80 at its manufacturing plant in Cannelton. In addition to safes, the company makes files, cabinets and vault doors. SentrySafe makes residential and small office […]
Clarcor Air Filtration Products announced this morning that it will bring 425 jobs to Jeffersonville by relocating its Louisville headquarters and consolidating its Midwest manufacturing operations there. Jeffersonville is across the Ohio River from Louisville. The company, which manufactures filters under the brands Purolator, Air Technologies, Airguard Industries and ATI, will invest $8.5 million to […]
Irwin Financial Corp.’s exit from the leasing and home equity businesses helped throw the Columbus bank for a $107 million loss in the second quarter. Irwin also said this morning that it expects to lose that much more in the third quarter as the restructuring draws nearer to an end. However, the bank added that […]
With a new season starting on Broadway, I thought it a good time to give a listen to a stack of cast recordings of 2007/2008 shows. More than the original production, I believe, the cast recording is what encourages future…
Government officials are accustomed to granting economic development incentive to companies in the hope of encouraging expansions that otherwise might not occur. However, in Evansville, Berry Plastics Group Inc. has asked for incentives months after starting construction on an addition to its tool shop, according to the Evansville Courier & Press. The newspaper quoted Vandenburgh […]
Haynes International Inc., a Kokomo company that makes specialized alloy parts used in corrosive and high-temperature conditions, late yesterday reported $17.6 million in fiscal third-quarter net profit. The $1.46 per share in earnings for the period ended June 30 was nearly identical to a year earlier, but well over the $1.20 anticipated by analysts surveyed […]
Second-quarter net profit soared 49.3 percent for Republic Airways Inc., the Indianapolis-based carrier said late yesterday. Republic’s $28.4 million in profit was bolstered by a one-time gain of $6 million resulting from an interest-rate swap. Without the swap, Republic still turned a profit of $22.4 million, up nearly 18 percent from the same quarter last […]
Some thoughts on recent arts encounters that didn’t make it into my weekly IBJ A&E review column:
— With a trio of young, out-of-town sports nuts in tow, I recently paid my first visit in years to the National Art…
The Steak n Shake Co. yesterday abruptly withdrew a request for a tax abatement worth more than $100,000 just before a final hearing. The unusual move suggests new management of the struggling chain already may have found an opportunity to cut costs – and the moves could affect the local headquarters. The package of incentives, […]
Eli Lilly and Co. will shed about 440 jobs after the sale of its Greenfield Laboratories and outsourcing other work. But the Indianapolis-based drugmaker hopes Indiana sees no net loss of jobs from its restructuring moves. The announcements this morning are part of a quickening effort by Lilly to reduce overhead costs before it loses […]
The acquisition of Europe’s largest distributor of mobile phones dialed up expenses and lowered second-quarter net profit for Brightpoint Inc. The Plainfield-based wireless phone distributor, which recently acquired Dangaard Telecom, lost $2.3 million, or 3 cents a share, in the period ending June 30 compared to a profit of $17.7 million, or 35 cents a […]
Indianapolis has won the dubious distinction of third place on a Forbes magazine list of the nation’s “Most In-Debt Households”. The magazine uses numbers from Moody’s Economy.com to establish which of…
By Norm Heikens A nightmarish debacle for an Anderson telephone company has ended after some of its customers were disconnected for nearly a week. 1Num Technologies Inc. restored service this morning, said Brian K. Merrill, cofounder and chief operating officer of the 4-year-old company. The firm sells a service that allows customers to use one […]
Whistleblowers are learning the hard way that they wonâ??t necessarily get their jobs back by exposing problems.
The latest such case involved a former banker who saw his case rejected by an appeals court. The court
ruled that his…
Eli Lilly and Co. has sold its Greenfield Laboratories in Hancock County to Covance Inc. for $50 million. Covance also signed a 10-year agreement with Lilly under which Princeton, N.J.-based Covance will take responsibility for Lilly toxicology testing now conducted at the historic facility. Approximately 260 Lilly employees at the facility will be offered jobs […]
A downturn in sales of high-margin appliances contributed to a 26.8-percent decline in net profit in HHGregg Inc.’s first fiscal quarter, the Indianapolis-based retailer reported this morning. HHGregg, which also sells electronics, turned in $2.1 million in profit for the period ended June 30. The 6 cents a share fell well below the 9 cents […]
Kite Realty Group Trust remains mum on its plans for the Rivers Edge shopping center just east of Clearwater Crossing, even in an application for rezoning filed this month. Kite…
Stock in Celadon Group Inc. jumped more than 12 percent today after the Indianapolis-based long-haul trucking firm reported fiscal fourth quarter profit that surpassed expectations. The shares rose to $14.18, the highest since September last year. The $2.2 million in net profit amounted to 10 cents a share, well above the 6 cents anticipated by […]
By Norm Heikens 1Num Technologies Inc., a startup company that provides telephone services, is still struggling to restore service that was lost Thursday. In an e-mail to customers on Friday, the Anderson company blamed its vendor, Colorado-based Level 3 Communications Inc., for “arbitrarily” stopping service to its customers’ telephone numbers. Not only are 1Num customers […]
