The Indiana State Board of Animal Health is investigating a case of bovine tuberculosis in a beef cattle herd in southeastern Indiana. TB-positive cattle from the herd were identified through routine inspection at a meat-processing facility in Pennsylvania, the Indiana agency said May 2. The infected herd will be depopulated and six beef steers were […]
Dow AgroSciences LLC’s profit and sales slumped in the second quarter after the Indianapolis-based company racked up record earnings in the prior period, parent Dow Chemical Co. reported today. The agricultural arm of the Midland, Mich. corporation generated $140 million in earnings before interest and taxes in the second quarter, a 61-percent drop from the […]
A central Indiana casino has admitted that its staff knew pop singer Justin Timberlake wasn’t coming to its grand opening a day before the event, but didn’t say anything to alert the public. The Indiana Gaming Commission fined Indiana Live Casino near Shelbyville $40,000 for its promotion of Timberlake’s supposed appearance at its March 13 […]
Evansville officials plan to build a new 11,000-seat arena in conjunction with a major remodeling of a downtown hotel.Work could start as early as next month on what Evansville Mayor Jonathan Weinzapfel said will be a transformation of the city’s downtown.The plan, announced yesterday, will put the $127 million arena on a different site than […]
The Indiana Department of Workforce Development is awarding $2.4 million to high school and post-secondary institutions across the state to fund engineering, biomedical and new technical preparation programs. The grants, ranging from $10,000 to $30,000, were awarded to more than 100 schools. The programs prepare students for college or the work force, while providing challenging […]
Hoping to spur alternative vehicles, lawmakers want to double the size of tax breaks on cars that run on natural gas.That could be good news for Indiana, where Honda Motor Corp. produces the natural-gas-powered Civic GX at its Greensburg plant. Right now, Honda is the only automaker selling natural-gas-powered cars to U.S. consumers.Senators joined Texas […]
Toyota Motor Corp. plans to spend about $500 million to upgrade its Indiana assembly plant in Princeton to accommodate production of its Highlander sport-utility vehicle. Bloomberg News reported the investment today. It discovered the plans in a Securities and Exchange Commission document filed by Toyota late last month. Japan’s largest carmaker announced last July it […]
Employers who offer health insurance coverage could see a 9-percent cost increase next year, and their workers may face an even bigger hit, according to a report from consulting firm PricewaterhouseCoopers. Costs will rise in part because workers worried about losing their jobs are using their health care insurance more while they still have it, […]
Hoosier Park Racing & Casino in Anderson and Indiana Live Casino in Shelbyville are hoping for a financial bailout from lawmakers debating the state budget in a special session at the Indiana Statehouse. But with many legislators intent on keeping secondary issues from muddying up budget talks, gambling interests might be facing long odds. Hoosier […]
Construction of new homes in the United States jumped in May by the largest amount in three months, providing an encouraging sign that the nation’s deep housing recession was beginning to bottom out.The Commerce Department said today that construction of new homes and apartments jumped 17.2 percent last month to a seasonally adjusted annual rate […]
Consumer health advocates and a patent holder on a highly anticipated blood thinner from Eli Lilly and Co. want the U.S. Food and Drug Administration to halt its review of the drug, which they say may be unsafe at the suggested dose. The FDA has been reviewing Indianapolis-based Lilly’s prasugrel since January 2008. A company […]
The U.S. Court of Appeals for the Second Circuit late last night put Chrysler LLC’s bankruptcy sale to Fiat Group on hold in order to hear an appeal by a trio of Indiana state pension and construction funds that object to the deal. The New York City court agreed to hear legal arguments by the […]
The union president who represents workers at a General Motors Corp. plant in Indianapolis says he’s saddened that the plant may close sooner than had been scheduled as part of GM’s bankruptcy reorganization. United Auto Workers Local 23 president James Kendall said GM told union officials this morning the stamping operations on White River Parkway […]
Tony George denied a report today that he has been ousted as CEO of the Indianapolis Motor Speedway Normal 0 false false false MicrosoftInternetExplorer4 . However, Ron Green, official spokesperson for IMS, said he would “neither confirm nor deny” the report, and said the speedway will issue a statement regarding the matter this afternoon. Meanwhile, […]
A Republican Congressional group says the climate bill passed by the House committee will amount to a massive tax increase and must be defeated. And it’s spreading its message in a series of energy summits, including one in Indianapolis today. Rep. Mike Pence from Indiana, who is chairman of the House Republican Conference and the […]
Regions Financial Corp. said today it will raise $1.85 billion in new capital through the public sale of 400 million common shares and 250,000 convertible preferred shares, as the regional bank looks to satisfy the U.S. Treasury’s demand that it raise $2.5 billion to shore up its cash position. Birmingham, Ala.-based Regions, which has about […]
Five of the nation’s largest regional banks, including four with dozens of branches and hundreds of employees in Indiana, are vulnerable to a worsening recession and need to raise a total $8.2 billion in new capital based on results of government “stress tests” released yesterday.The two regional banks based in the Southeast, Regions Financial Corp. […]
Dow AgroSciences racked up record profit and sales in the first quarter, the Indianapolis-based company’s parent, Dow Chemical Co., reported today. The agricultural arm of the Midland, Mich., company generated $338 million in earnings before interest and taxes, a 2.1-percent gain from the same period last year. Sales rose 7.7 percent, to $1.4 billion, the […]
An analyst cut his 2009 earnings estimate for Conseco Inc. yesterday and said the Carmel-based insurer still faces a real threat of bankruptcy if it can’t renegotiate its credit agreement with debt holders. Credit Suisse analyst Thomas Gallagher slashed his earnings estimate after projecting an extra $45 million per year in costs associated with a […]
General Growth Properties Inc., the nation’s second-largest shopping mall operator, filed the biggest real estate bankruptcy in U.S. history early today after it failed to persuade a majority of its debt holders to give it more time to refinance $27 billion in debt. Indianapolis-based Simon Property Group is the only mall operator bigger than Chicago-based […]
