Shareholders in bankrupt Accuride pursuing loan
Accuride shareholders are trying to arrange a $400 million loan to fund the Evansville company’s exit from bankruptcy.
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UPDATE: Steak n Shake confirms new corporate HQ
The Steak n Shake Co. updated its Web site this week to reflect a new corporate headquarters address in San Antonio, confirming
a story in IBJ‘s Feb. 8 print edition.
Lilly awards pay increases to top executives
Eli Lilly and Co. CEO John Lechleiter’s total compensation increased $4.1 million in 2009.
Calumet Specialty investigating cause of Louisiana explosion
Indianapolis-based Calumet Specialty Products Partners LP is investigating the cause of a Friday blast at its refinery in
Shreveport, La., that damaged some nearby properties.
Steak n Shake changing its name, moving HQ to Texas
Indianapolis is on the verge of losing one of its most prominent public companies. The Steak n Shake Co. is planning to
change its name to Biglari Holdings Inc. and move its headquarters to San Antonio. The Steak n Shake restaurant chain would retain a presence in Indianapolis.
Republic Airways to shut down Lynx Aviation
Indianapolis-based Republic Airways Holdings Inc. will shut down Lynx Aviation, a regional flying unit that operates Bombardier
Q400 propeller planes. The changes will mean 175 people will lose their jobs.
PROXY CORNER: Hillenbrand Inc.
Hillenbrand Inc. manufactures and supplies burial caskets, cremation products and related services to licensed funeral homes.
HHGregg’s profit, sales rise
HHGregg’s profit and revenue both increased in its fiscal third quarter, despite a slight dip in same-store
sales. The opening of 19 stores helped offset the decrease.
Brightpoint profit up despite declining revenue
Wireless device distributor Brightpoint Inc. saw revenue decline in the fourth quarter, but the Indianapolis-based company
still managed to bounce back from $346 million year-ago loss with an $18.3 million quarterly profit.
Chairman Glasscock retiring from WellPoint board
Larry Glasscock will retire as chairman of WellPoint Inc.’s board, the Indianapolis-based health insurer said early Wednesday.
Company CEO Angela Braly will assume the position March 1.
Dow AgroSciences profit falls despite revenue increase
Indianapolis-based Dow AgroSciences said Tuesday it posted a profit of $69 million in the fourth quarter, down 19 percent
from the prior year because of increased research and development spending and higher administrative expenses. Revenue was
up 17 percent.
New emissions standards drive up Cummins profit
Columbus-based diesel engine maker Cummins Inc. posted its most profitable fourth quarter in company history, thanks to a
rush on engines that won’t have to conform to new emission standards.
Haynes pays CEO almost twice as much as predecessor
CEO Mark Comerford’s $1.46 million in total compensation in fiscal 2009 was nearly double Francis Petro’s pay the previous
year—even though the company’s revenue dropped 31 percent in the same period.
Interactive Intelligence fourth-quarter profit up 74 percent
Record product orders spur sales at Indianapolis-based software maker Interactive Intelligence, propelling profits to $2.5 million.
Bioanalytical Systems’ CEO announces retirement
Struggling West Lafayette life science contract research firm will search nationally for a new permanent leader.
Lilly shares trade down after fourth-quarter profits falls
Analysts worry about dive in already paltry sales of new blood thinner Effient
Accounting charge dents Zimmer’s fourth-quarter profits
But excluding special charges, Warsaw-based orthopedic implant maker grows profits 5 percent, easily beating expectations
of Wall
Street.
Lilly’s profits fall, miss analyst expectations
The Indianapolis-based drugmaker says a weaker dollar depressed earnings in the fourth quarter compared with a year ago.
Toyota recall gives Elkhart-based supplier unwanted notice
Like most companies that make thousands of parts in automobiles, Elkhart-based CTS Corp. was virtually unknown to the average
car buyer. That was until its gas pedal was blamed for big problems with some very popular cars.
Duke Realty reports loss, says outlook remains ‘challenging’
Locally based Duke Realty Corp. reported a 53 percent drop in funds from operations in the fourth quarter but still managed
to beat Wall Street expectations.