Let the Madness begin
The Madness this March is going to be a little crazier than usual. Due to advances in high-speed wireless technology, more people than ever will spend time at work paying attention to the…
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‘Major downturn’ for construction
Wondering why development news seems to have ground to a halt? The nation’s housing and economic woes are hitting development firms and slowing the demand for construction. The American Institute of Architects…
Indy firm loses Marilyn Monroe rights case
CMG Worldwide Inc. suffered a significant legal setback Monday when a federal judge ruled that Fishers-based CMG and a company it represents, Marilyn Monroe LLC, do not own Marilyn Monroe’s publicity rights. The California ruling could be a massive blow to CMG. Monroe’s likeness on everything from TV commercials to T-shirts generated about $30 million […]
Valuing the FFA convention
The National FFA put out a release today saying its national convention in Indianapolis in October created
a $40 million impact. Lump out suppliers from outside the area, and the local impact amounted to $34.5 million.
Global Insight Inc., a respected…
Delta slashes 95 more jobs in Greensburg
Delta Faucet Co. has cut 95 blue-collar workers at its plant in Greensburg, leaving about 662 employees. The Carmel-based company blamed ongoing sluggishness in the housing market, according to the Greensburg Daily News. Earlier layoffs at the plant have claimed about 100 workers, and about 30 jobs at the Camel offices. Delta is owned by […]
Wind farm considered for Kokomo area
Houston-based Horizon Wind Energy LLC is eyeing as many as 15,000 acres east of Kokomo on which to build wind generators, according to the Kokomo Tribune. The area could receive 100 generators, which could turn out 200 megawatts, enough to power about 66,000 houses. The area has plenty of open land, wind and transmission lines. […]
Summer Nights, summer slights?
The Indianapolis Museum of Art’s Summer Nights film series is one of the most popular warm-weather attractions in the city — at least, one where those who want to attend often outnumber the room the IMA has to accommodate them.
This…
Workers to take over GE plant in Bloomington?
Rather than seeing the General Electric Co. refrigerator plant in Bloomington close, the Monroe County Economic Development Commission plans to study whether it would make sense for the employees to buy and operate the site. About 900 workers will lose their jobs next year if GE goes ahead with the plan it announced in January. […]
WellPoint sued over lowered earnings estimate
Two law firms have sued WellPoint Inc., claiming the company and its officers misled investors for weeks before the company lowered its earnings estimates this month. The lawsuits claim WellPoint officers knew their medical costs were rising and their customer rolls were growing more slowly than predicted, but did not tell investors. After WellPoint disclosed […]
Upsets hurt Big Ten tourney revenue
As a result of quarterfinal losses by Indiana and Purdue, attendance for last week’s men’s Big Ten basketball tournament at Conseco Fieldhouse fell below projections. After Session 3 (the one featuring IU and…
Tax legislation to become law
Gov. Mitch Daniels is set to sign the property tax legislation tomorrow.
Daniels got most of what he proposed last fall. Homeowners get a tax cut, future bills will be capped and
the sales tax rises to compensate.
Are you happy with…
Roche to move 340 into Marsh offices
Growth at Roche Diagnostics will push across 96th Street and take over the Marsh Supermarkets headquarters building, Roche announced today. By the end of 2010, Roche will transfer roughly 340 jobs to the new location from its campus in the northeast corner of Marion County, which serves as the company’s North American headquarters. Swiss-based Roche, […]
Judge sides with Case retirees
About 3,500 retired employees of J.I. Case Co. – which had a plant in Terre Haute until 1987 – and surviving spouses of retirees have won a lawsuit that provides them with health care benefits for life. The company, now called CNH American and based in Pennsylvania, also must reimburse those covered by the lawsuit […]
Cows, racecars … and now pianos?
Ever since the Chicago cows appeared in 1999, city marketers and arts folks have been trying to find attention-getting gimmicks to boost awareness of their towns’ coolness. Many of these—including our very own artist-decorated race cars—have been reactive rather than…
Menards races back to IRL
The company that powered Tony Stewart to the 1997 Indy Racing League championship is coming back to open-wheel racing. John Menard confirmed that his Menards chain of hardware superstores will be sponsoring Tony…
Report: Mead Johnson parent seeking buyer
Evansville-based Mead Johnson Nutritionals could get a new owner if parent Bristol-Myers Squibb Co. succeeds in finding a buyer. The Financial Times reported Sunday that Bristol-Myers is “quietly sounding out potential bidders” for the baby formula maker. Mead Johnson’s value is estimated at $7 billion to $9 billion. Quoting unnamed sources familiar with the discussions, […]
Indiana Business Bank swings to profit
Indiana Business Bancorp, the Indianapolis-based parent of Indiana Business Bank, reported $14,159 in profit for 2007. That compares with a $675,954 loss of a year earlier. Growth in loan and investment portfolios pushed net interest income up 29 percent, to $2.6 million. Service charges and other fee income increased nearly three-fold, to $180,289. The bank, […]
Ticket to the middle class
Forget outsourcing. A Michigan research group says the larger problem for manufacturing will be finding enough
domestic workers to navigate the complexities of modern factory floors.
The Center for Automotive Research in Ann Arbor contends in a recent report that while…
CEO of struggling ATA parent steps down
The chief executive officer of ATA Airlines’ parent company, Global Aero Logistics, has resigned, according to the Peachtree City, Ga., company. Subodh Karnik, who previously was CEO of Indianapolis-based ATA, was under pressure from New York investment firm MatlinPatterson to make ATA and its two sister carriers profitable. Global Aero’s most recently reported financials show […]
Sinks, brownfields and insurance
Getting you up to date:
Airport sinks approved
The Indianapolis Airport Authority board has approved an obscure bid package known as “T-31” that provides for the installation of floor-level foot sinks for…