New developments coming soon
Seen one of these signs? There are plenty around town. Here are a few notable projects slated for Metropolitan Development Commission hearings: Locally based Herman & Kittle Properties Inc. is proposing…
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Cook expansion to cost $80M, create 200 jobs
Cook Pharmica said today it will spend $80 million to expand its contract drug manufacturing operation to include formulation, filling and finishing. The project will create 200 jobs, said the company, a division of Bloomington medical device giant Cook Medical. Cook Pharmica currently develops and manufactures cell culture-based products. The expansion will have two lines […]
Airline to cut workers at Fort Wayne airport
Utah-based SkyWest Airlines will cut 15 jobs at Fort Wayne International Airport after it lost a ground-handling contract, reports The Journal Gazette, citing a Worker Adjustment and Retraining Notice filed with the state. The job cuts, which include customer service and ramp agents, are slated to begin in April.
Oops! E-mail leaks Lilly settlement talks
At least the lawyer got the same last name right. New York Times reporter Alex Berenson was able to break the story last week that Eli Lilly and Co. was secretly negotiating a $1 billion settlement with the government because an outside Lilly lawyer accidentally emailed him the details. The lawyer at Pepper Hamilton in […]
A new desire for streetcars
Electric streetcars are an old idea that should be brought back, some civic leaders believe.
IBJ reporter Chris Oâ??Malley writes today that heavyweights including Indiana Convention and Visitors Association
President Bob Bedell are backing a not-for-profit called Downtown Indianapolis…
Officials plan streetcar comeback
Some top civic leaders have quietly created a not-for-profit organization to study and build a streetcar “circulator” system downtown. Downtown Indianapolis Streetcar Corp. would bring the electric vehicles to the streets for the first time since the 1950s. Notable members of the group include Bob Bedell, former president of the Indianapolis Convention & Visitors Association, […]
Economy, competition hit Kimball profit
The slowing economy and rising competition drove down overall profit for Kimball International Inc. in its second fiscal quarter. The Jasper furniture and electronics maker reported today that profit fell 41 percent in the period ended Dec. 31, to $4.2 million. The weakening economy prompted companies to cut back purchases of new furniture and office […]
Browning stakes 150 acres in Hancock County
Indianapolis developer Browning Investments is planning a business park on about 150 acres south of Mount Comfort Airport, said Dale Pfeifer, a developer with Browning. The site is north of County Road 300 North and west of County Road 500 West, and is to have four warehouses with space ranging from 270,000 to 753,000 square […]
Knight moves make waves
Bob Knight leaves a tsunami-like wake wherever he goes. Even in retirement, the waves from his larger-than-life persona are being felt from Lubbock to Bloomington and beyond. The business impact of Knight’s retirement looms large locally. There are numerous central…
Veterans group moving downtown
The Hoosier Veterans Assistance Foundation is renovating a two-story building near the Central Library to serve as its new headquarters. The not-for-profit group, which now is located at the former…
Steelmaker questions railroad acquisition
ArcelorMittal, the biggest steelmaker in northwest Indiana, is worried about the future of a railroad it uses to annually ship 5 million tons of steel and receive $2 million tons of raw materials. ArcelorMittal competitor U.S. Steel Corp. is selling most of the 198-mile EJ&E Railway, which serves industrial customers in the Chicago area, to […]
Major League Winners
Author and former IUPUI dean Mark Rosentraub is writing another book.
This one, titled “Major League Winners,” focuses on the five U.S. cities he thinks have most successfully used sports as an economic…
Steel processor to expand, add 100 workers
Indiana Steel and Tube, a steel processor in the southern Indiana community of Brownstown, plans to expand and hire 100 extra workers by 2010, the Indiana Economic Development Corp. announced yesterday. The $8 million plant will begin making about 2,500 tons of steel coil this year. The state offered nearly $975,000 in incentives, and the […]
Supplier bankruptcy casts shadow over Chrysler
The immediate future of Chrysler’s operations in Indiana is open to question now that a supplier to the Detroit automaker has sought bankruptcy protection. Friday’s Chapter 11 filing by Plastech Engineered Products Inc. suddenly cut off a stream of plastic parts to Chrysler’s 14 assembly plants, according to the trade publication Automotive News. All 14 […]
Green developer has $20M pipeline
Is green development finally catching on in Indianapolis? The four owners of Casa Verde LLC certainly hope so. The company has plans for a $14-million, LEED-certified condo project in Columbus. In Indianapolis,…
Who will win the banking wars?
Itâ??s no secret that banks are in upheaval thanks to the subprime mortgage crisis and the domino affect mess
itâ??s creating.
In an IBJ story over the weekend, reporter Cory Schouten discusses the local grab for market share, as…
UPDATE: Steak n Shake investor rips bylaw
A dissident investor in The Steak n Shake Co. today blasted the company for changing its bylaws to make it more difficult for shareholders to call a special meeting. San Antonio-based Lion Fund, whose affiliates own 8 percent of Steak n Shake, said in a filing with the Securities and Exchange Commission that it would […]
Seeking your take on the markets
You IBJ readers are a wealthy lot. Our latest survey, taken in September of last year, shows that you had
a $170,700 median household income and the median value of your investments came to $679,700.
Three of four had corporate stocks…
Steak n Shake shields board with bylaw change
The Steak n Shake Co.’s board of directors has thrown up a roadblock to a plan by a dissident investor to oust most of its members. San Antonio-based Lion Fund, whose affiliates own more than 8 percent of the Indianapolis company, wants to get two of its representatives elected to the board at the company’s […]
Manning vs. Manning
The day after the New York Giants’ improbable Super Bowl XLII triumph, sports marketers are already lining up to talk with the game’s MVP, Eli Manning. And there’s speculation that Manning’s sudden success will have a profound effect on older…