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Recently announced changes to the Indiana Pacers’ front office leave questions about the team’s long-term ownership unanswered.
While Larry Bird, Pacers director of basketball operations, is set to take over for CEO Donnie Walsh at season’s end, there
is no indication what succession strategy, if any, exists for replacing team owners Mel Simon, 81, and Herb Simon, 73.
British investor Joe Lewis (who is still a billionaire, although after you find out what happened to him, you will wonder how he has any money left) started buying stock in Bear Stearns back in August when it fell to $120 a share. When the stock fell to $110 in October, he bought more, to the tune of $300 million. In November, Bear fell to about $90, and Joe was at it again. All told, he bought $1 billion of…
Northern Indiana motorists and Democratic opponents of Gov. Mitch Daniels were screaming bloody murder. Daniels in 2006 convinced the Legislature to lease the vital highway and plum of political patronage-the Indiana Toll Road-to an Australian-Spanish consortium for nearly $4 billion. Some managers at the Indiana Department of Transportation also were screaming-with panic. Despite winning the departmental lottery of all time-an annual budget for new roads would now quadruple from $213 million a year to $874 million by 2015-Daniels wanted 200…
Consumer groups didn’t get a ponytailed zealot to head the Office of Utility Consumer Counselor. No surprise there. Gov. Mitch Daniels has been fond of appointing ex-industry insiders to lead agencies charged with monitoring those same industries. What the OUCC gets in former Ameritech attorney David Stippler is, at the very least, a man who already knows the utility industry in Indiana. The Evansville native has argued before its regulatory agencies for many years. “They don’t have to forge a…
A Chicago-based manufacturer of railroad tank cars plans to shutter its plant in East Chicago and send production to newer, non-union plants in the South, according to The Times of Munster. Union Tank Car Co. said it is consolidating production to cope with a downturn in the market, but International Brotherhood of Boilermakers Local 524, […]
Greg Yust, formerly president and CEO of Sagamore Health Network Inc., has joined St. Francis Hospital & Health Centers as vice president of managed care contracting. Yust left Carmel-based Sagamore in January after a short stint. Sagamore was the state’s third-largest managed care organization when it was acquired in August 2007 by Philadelphia-based Cigna Corp. […]
Despite challenges to the sector, durable goods manufacturing remained the largest portion of the state’s gross state product in 2006, according to analysis published recently in Indiana Business Review. Not only that, but the combination of durable goods – cars and other products designed to last at least three years – along with pharmaceuticals and […]
Indiana Pacers Coach Jim O’Brien said yesterday during his show on WFNI-1070 AM that he thinks players interested in entering the National Basketball Association draft should be required to wait two years after…
Finish Line Inc. plans to close as many as 20 of its roughly 700 stores this year, but also hopes to open about 15 stores based on a smaller prototype aimed at generating more sales per square foot. A day after the Indianapolis retailer reported a $38.6 million loss in its fourth quarter, CEO Alan […]
JPMorgan Chase has cut 100 workers from its downtown operations in Chase Tower, according to spokeswoman Nancy Norris. All of the workers are in Chase’s home-equity lending processing area, Norris said. Chase eliminated another 350 workers in other cities, primarily in Rochester, N.Y. The cuts are “due to the slowdown in home-equity lending,” Norris said. […]
Playbill.com reports that “A Christmas Story,” the Jean Shepherd-based film that put Hoosier holidays on the pop-culture radar, is being developed as a stage musical. Already in my head, I’m hearing the song “Lick the Pole” sung to the “Little…
Rising material costs have caused Thompson Thrift Construction Inc. to alter plans for a children’s museum and hotel it is building in Terre Haute, reports The Tribune-Star. Costs for the children’s museum, which is next to a Candlewood Suites that Thompson Thrift also is building, have gone over estimates by 12 percent. The Terre Haute-based […]
The city next week will consider an ordinance making sidewalks a requirement for any new project in Marion County. When the ordinance was initially heard last October, officials from several…
Indianapolis-based Finish Line Inc. late this afternoon reported a fourth-quarter loss of $38.6 million, thanks in large part to an $81.5-million charge related to its escape from an ill-fated merger agreement with Tennessee-based Genesco. Even without the charge, the quarter was tough for the athletic retailer. Comparable-store sales dropped 6 percent, keeping alive a two-year […]
Today I noticed in another publication that a fully-professional arts organization in town was referred to as a “community theater.”
I brought this up at lunch and an arts professional dining with me said something to the effect of “Yes, a…
Warsaw-based Symmetry Medical Inc., which makes implants, surgical devices and medical cases for the orthopedics industry, plans to add 60 workers as part of a $6.2 million expansion, the Indiana company said today. Symmetry will receive $127,000 in incentives for training in supplemental math, second languages, equipment maintenance and manufacturing processes. About 400 of the […]
The Indy Racing League late yesterday finalized a deal worth $3 million annually over the next few years that will essentially make DirecTV the series’ presenting sponsor. The California-based satellite television service provider…
It hardly seems like a week goes by anymore without another story about someone sliding into a suburban
retention pond and losing their life or at least coming uncomfortably close.
Some ponds have become dumping grounds for cars, and now Plainfield…
A Texas judge has sided with Clear Channel Communications Inc. in ordering several banks to fund the proposed $19 billion buyout of the San Antonio media company. In Indianapolis, Clear Channel owns rock powerhouse WFBQ-FM 94.7, alternative rock station WRZX-FM 103.3 and WNDE-AM 1260, which broadcasts a sports format. Clear Channel announced the ruling this […]
Wabash National Corp. is building a $25 million semi-trailer manufacturing plant in Franklin, Ky., rather than in its headquarters city of Lafayette because a persistently low unemployment rate drove up wages and complicated efforts to hire workers. Wabash CEO Dick Giromini told analysts in a recent meeting that the lower costs in Kentucky would help […]
