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A bankruptcy judge yesterday denied a motion from a pair of Indiana state pension funds and a state construction fund to delay the proposed sale of most of Chrysler’s assets, saying the funds’ plan to challenge the legality of the sale in another court wasn’t enough of a reason to push back the proceedings. Normal […]
UMB Bank has acquired the corporate trust business of Harris bank for an undisclosed price. The deal, which closed last week, includes 80 accounts and $213 million in assets, UMB President and Chief Operating Officer Peter deSilva said today. Corporate trust units underwrite corporate and government bonds. UMB, headquartered in Kansas City, Mo., added the […]
A federal jury returned a verdict that a major energy company violated clean-air rules at a coal-fired power plant along the Ohio River in southeast Indiana. The Southern District of Indiana verdict Tuesday night came following six days of trial and eight hours of jury deliberation in U.S., et al. v. Cinergy Corp., et al., […]
A Hamilton County judge today ordered the wife of a former Conseco Inc. director to pay the insurer $5 million in its ongoing quest to recover unpaid stock loans. The judgment against Margaret Massey, wife of James D. Massey, stems from a November ruling from U.S. Bankruptcy Judge Basil H. Lorch III that said Conseco […]
State Farm Insurance will pay $275,000 and continue to re-evaluate thousands of unpaid claims from a 2006 hailstorm that hit Indiana. The payment, announced today by the Indiana Department of Insurance, will go to the state’s general fund to cover the cost of the department’s examination of State Farm. It comes on top of nearly […]
An activist group says it has conducted sting operations at CVS Caremark Corp. stores in Indiana and eight other states. The group has called a news conference tomorrow to disclose evidence it says will prove Indianapolis-area stores sell expired products. The group, Change to Win, says half of the Indianapolis-area stores it visited sold expired […]
The National Education Association said today that it is taking over its Indiana affiliate, a stunning comeuppance for what
long had been one of the most powerful union forces in the state.
An Indianapolis police officer will talk to the media this afternoon for the first time since he was injured in the line of duty. Jason Fishburn was shot in the head while chasing a murder suspect last July. He returned to the job Monday, working four days a week at the police training academy as […]
A New Whiteland mother has died after suffering extensive injuries in a case that police say is extremely suspicious. Officers found Kimberly Soper, 32, at the bottom of a flight of stairs after her husband called 911. Soper was rushed to the hospital with extensive skull fractures and internal bleeding. Investigators say her injuries were […]
500 Festival Community Day is underway at Indianapolis Motor Speedway. Fans can mingle with drivers during a series of autograph sessions, watch race teams during pit-stop practice, and even take the family sedan for a drive on the world’s most famous race track. Admission is $7. Activities end at 6 p.m.
The National Education Association said today that it is taking over its Indiana affiliate, a stunning comeuppance for what long had been one of the most powerful union forces in the state. The Indiana State Teachers Association, perhaps the most feared lobbying interest at the Statehouse, said in an e-mail to members it will cede […]
An activist group says it has conducted sting operations at CVS Caremark Corp. stores in Indiana and eight other states. The group has called a news conference tomorrow to disclose evidence it says will prove Indianapolis-area stores sell expired products. The group, Change to Win, says half of the Indianapolis-area stores it visited sold expired […]
WellPoint Inc. CEO Angela Braly faced pointed criticism of her company and of WellPoint Director Susan Bayh from a handful of shareholders at the health insurer’s annual meeting this morning. Two shareholders used a question-and-answer session to charge Bayh with a conflict of interest because her husband, Sen. Evan Bayh, will have a vote on […]
A weakened retail environment drove losses deeper in the first quarter, West Lafayette furniture maker Chromcraft Revington Inc. reported yesterday. The $3.2 million loss was 45-percent greater than in the same period a year earlier. Revenue declined 39 percent to $16.7 million. Chromcraft has struggled to restore profits at a time that it and other […]
As home to the International Violin Competition of Indianapolis and the American Pianists Assocation Fellowship Awards — and with IVCI head Glenn Kwok recently named President of the World Federation on International Music Competitions (the first American to land the position) — Indy has a…
Two-thirds of college-age Americans rank health insurance as important as salary in looking at jobs. Yet just as many have made no plans to obtain health insurance once they graduate from school this month. That’s a problem for companies like Indianapolis-based Golden Rule Insurance Co., which commissioned the survey that produced those conclusions. It’s also […]
Indiana’s treasurer won’t invest any more money in the corporate debt of companies receiving federal funds after state pensions were stung by millions of dollars in losses in the Chrysler LLC bankruptcy. Treasurer Richard Mourdock says the administration of President Obama changed long-standing investment rules in the bankruptcy proceedings, causing the Indiana State Police Pension […]
Voters rejected millions of dollars in school projects in special elections yesterday in central and northern Indiana. In the Mooresville school district south of Indianapolis, voters rejected a proposed $50 million middle school, 2,689-1,674, and a $45 million high school renovation, 2,564-1,780. In the Nineveh-Hensley-Jackson school district that straddles Johnson and Morgan counties, a proposed […]
The candidate who nearly upset longtime Indiana Congressman Dan Burton in last year’s Republican primary is running against him again. John McGoff announced his candidacy today, becoming the third prominent Republican to launch a campaign to defeat Burton for the 5th Congressional District seat. McGoff is an Indianapolis physician and former Marion County coroner. Burton […]
Milwaukee-based Marshall & Ilsley Corp. said today it will sell up to $350 million of its common stock directly to the market and use the money for general corporate purposes. The bank, which has about 30 branches and 390 employees in the Indianapolis area, said it may also use some of the proceeds to repay […]
