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About 26 of the 700 workers at Ryobi Die Casting Inc. in Shelbyville have taken voluntary layoffs due to the ripple effect of the two-week American Axle and Manufacturing Holdings Inc. strike. The plant machines parts for General Motors Corp. GM has slowed production and shut down plants as inventories of parts supplied by Detroit-based […]
Troubles for Carlyle Capital Corp. Ltd., a unit of Carlyle Group, a Washington D.C.-based private equity group, have worsened after it said it can’t meet demands of more than $400 million in margin calls from lenders, according to Bloomberg. The fund had defaulted on about $16.6 billion of debt as of yesterday and expects additional […]
A lawsuit Whirlpool Corp. filed against a union at its refrigerator plant in Evansville has been dismissed after the parties reached a settlement, according to the Evansville Courier & Press. Terms were not disclosed. Whirlpool sued after an arbitrator forced the Benton Harbor, Mich., company to reimburse insurance surcharges for employees who smoke. A decade […]
Shares of Steak n Shake Co. ended the day largely unchanged at $8.06 after rising nearly 3 percent through mid-day trading. The Indianapolis company early this afternoon announced that two outside shareholders bumped two directors off the board, including the chairman and acting CEO. Sardar Biglari and Phillip Cooley, who represent the Texas-based Lion Fund, […]
Democratic presidential candidate Barack Obama is dropping in on Indianapolis this Saturday for a campaign stop.
Will Obama or Hillary do better in Indiana?
Employment was about the same in January as December, according to the latest figures from the Indiana Department of Workforce Development. The state had 2,994,800 jobs, down 200 from December. The figures, taken from surveys of employers, are adjusted for seasonal fluctuations. January figures arrived about a month late due to government statisticians’ needing additional […]
So much for IKEA dropping one of its stores in the Indianapolis area anytime soon.
A store opening today in a Cincinnati suburb is about as close as Indianapolis is going to see, at least
for a while, IBJ Associate…
What does Cincinnati have that Indianapolis doesn’t? As of today, an IKEA. The popular Swedish home-furnishings chain opened its 34th U.S. store this morning in suburban Cincinnati, its final foray into the Midwest after a five-year growth spurt that never quite made it to Indianapolis. Instead, IKEA chose to add locations in Bloomington, Minn., near […]
Vontoo Inc., the Indianapolis startup that’s developing audio marketing messages, has attracted $2 million in private funding. The company was started in 2006 to help bring personalized voice mail messages that can include nuance that’s difficult to convey in an e-mail. A key financial backer is Robert Compton, an angel investor living in the Memphis […]
Business is good for the Indy Racing Experience, which was founded in a Gasoline Alley shop in 1987. The company, which started allowing fans to ride around the Indianapolis Motor Speedway in two-seat…
A law firm pressing a racial discrimination lawsuit against Eli Lilly and Co. says a security guard found a noose hanging in a tree on Lilly’s corporate campus in Indianapolis. Rose & Rose, a Washington, D.C., law firm, sent a statement about the incident late yesterday. The law firm is representing a group of current […]
Tennessee-based Hollingsworth Capital Partners has bought a 330,822-square-foot industrial building at 910 E. 169th St. in Westfield for an undisclosed price. The seller was Verizon Communications Inc. The new owner plans to lease the building to multiple tenants. John Huguenard and Michael Weishaar with Colliers Turley Martin Tucker represented Verizon Communications in the sale.
For today, I’m turning the blog over to IBJ reporter Jennifer Whitson.
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Clarian Health Partners is calling on patients, doctors and amateur photographers to submit photographs to help it decorate three new buildings.
Clarian hired locally based Jacqueline Buckingham Anderson LLC to…
A research center to be included in the Medco Health Solutions Inc. pharmacy distribution center at Whitestown will study drug data, genetic testing and medical claims data, the company said today. With help from colleges and universities, the center will look for ways to use the information to cut costs and improve patient health, said […]
Jim Kanir has been named president and chief operating officer of Indianapolis-based Powerway Inc., an Indianapolis company that develops manufacturing control software. Kanir represented Mason, Ohio-based Cohesia Corp. as it was acquired by Powerway in June last year, and served in a consulting role during the transition. The president’s position had been held by Dave […]
WellPoint Inc.’s woes made for a gloomy day on Wall Street and could turn into year-long gloom for the whole industry. That’s what at least one Wall Street firm said after Indianapolis-based WellPoint sharply lowered its profit forecast late yesterday. Its share price fell 26 percent this morning, to $48.55. Goldman Sachs and Co. slashed […]
Indianapolis today is one step closer to stealing USA Basketball’s headquarters from Colorado Springs, where the national governing body for men’s and women’s basketball in the U.S. has been located since 1979. IBJ…
Indiana University this month began a television and radio advertising onslaught for its football team that seems to come at an odd time. After all, the spotlight is shining on March Madness, when…
Yesterday, I found myself deliberately not making a left turn on Vermont from New Jersey Street.
My reason: I just didn’t want to see the Julian Opie “Ann Dancing” electronic sculpture.
Now, I’m a big fan of public art. I believe it…
