News brief

Indianapolis utility could buy Lake Monroe water

August 26, 2009
 IBJ Staff and Associated Press, Associated Press
Indianapolis Power & Light Co. has agreed to a 20-year contract with a state agency to potentially draw millions of gallons of water from southern Indiana's Lake Monroe.
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Kmart closing Martinsville store

August 12, 2009
 IBJ Staff
Kmart Corp. has notified the Indiana Department of Workforce Development that its Martinsville store will close Nov. 30, costing 48 employees their jobs.
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Aircraft engine maker closing local plant

August 12, 2009
 IBJ Staff
Aircraft engine maker Pratt & Whitney will close its plant on Kentucky Avenue within the next 18 months and gradually let go all 100 of its employees.
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Beverage firm to open Columbus plant

August 12, 2009
 IBJ Staff
Tipton Mills, a New York specialty beverage company, announced today it will locate a  plant in Columbus, Ind., creating more than 40 jobs.
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Area home sales, prices still falling

August 11, 2009
 IBJ Staff
Home-sale agreements in the nine-county Indianapolis area dropped 3.1 percent in July over the same month a year ago, according to a report released yesterday by F.C. Tucker Co.
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Little Red Door names new leader

August 11, 2009
Kathleen McLaughlin
The Little Red Door cancer agency has hired Fred Duncan, the chief fund-raiser at the Indianapolis Museum of Art, as its new executive director, the not-for-profit announced today.
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Celadon manages profit amid tough conditions

August 11, 2009
 IBJ Staff
Indianapolis-based Celadon Inc. said yesterday that it eked out a small profit in its fiscal fourth quarter, as the struggling economy continues to batter the trucking industry.
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Union sues Conseco over restatement

August 10, 2009
J.K. Wall
Carmel-based Conseco Inc. faces a shareholder lawsuit by a union pension fund over an earnings restatement the company made 18 months ago.
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State Fair planners expecting record crowds

August 7, 2009
Indiana State Fair organizers are anticipating this month's longer fair will attract a record crowd, but they are setting modest expectations.
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Lilly offering buyouts to 4,000 sales reps

August 4, 2009
Indianapolis-based Eli Lilly and Co. today said it is offering buyouts to its U.S. sales force, with hopes of trimming about 300 sales representatives before a sales restructuring set to begin in January, Reuters reported.
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East-side shuttle service makes debut

August 4, 2009
A new public shuttle service got rolling this morning on the near-east side of Indianapolis.Known as the Near Eastside Orbiter, the 24-passenger shuttle is provided by the John H. Boner Community Center at 2236 E. 10th St. and completes a 15-mile circular route in about an hour.
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Franklin University hires local dean

August 4, 2009
Franklin University of Ohio hired Michael Szakaly to serve as dean of its new Indianapolis campus, the not-for-profit educator announced today. Szakaly most recently served as the business school dean at Ivy Tech Community College's east-central region, which includes Anderson, Marion and Muncie.
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Local contractor lands project for the president

August 3, 2009
 IBJ Staff
Indianapolis-based architectural and engineering firm RW Armstrong will provide design and project management services for the Presidential Helicopter Squadron, a 65,000-square-foot hangar complex being built at a Marine Corps base in Quantico, Va.
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Professors go online to revolutionize drug discoveryRestricted Content

July 20, 2009
 IBJ Staff
Two chemistry professors at IUPUI are laboring to create the McDonald’s of research laboratories—low-cost and all over the world.
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Biomet reports loss on special charges

July 15, 2009
 IBJ Staff
Biomet Inc. yesterday reported a $170.9 million loss in its fiscal fourth quarter as the result of more than $300 million in special charges.
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Interactive Intelligence expects higher profit

July 14, 2009
Interactive Intelligence said yesterday it expects a profit of between $1.8 million and $2.5 million in the second quarter, up from $845,000 the company earned in the same period last year.
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Fortune ekes out profit on falling revenue

July 13, 2009
Indianapolis-based Fortune Industries Inc. managed a small profit in its third quarter and now has turned a profit in each of its last three quarters, the company announced this morning.
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Local firms recognized for pro bono work

July 7, 2009
 IBJ Staff
Led by Baker & Daniels LLP, Indianapolis' three largest law firms are recognized in the July issue of The American Lawyer magazine for their pro bono work.
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IBJ wins 9 national journalism awardsRestricted Content

July 6, 2009
 IBJ Staff
IBJ was named third-best large-market business publication and collected eight other national awards at the Alliance of Area Business Publications' summer conference June 27 in Minneapolis.
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Board battle brewing at BioanalyticalRestricted Content

June 29, 2009
 IBJ Staff
West Lafayette-based life sciences contract research firm Bioanalytical Systems Inc. has five directors on its board. If company founder Pete Kissinger has his way, four of them will soon be replaced.
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A.J. Gallagher & Co. strikes again, hires two more benefits brokersRestricted Content

June 29, 2009
 IBJ Staff
National acquisition-and-merger rage among benefits firms continues as Gallagher swallows groups in Noblesville and Louisville. Gallagher's Carmel office grows its client portfolio to 300.
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WTHR lays off 20-year vet, plus chopper pilotRestricted Content

June 29, 2009
 IBJ Staff
Channel 13 eliminates two positions to trim costs, and hopes for a revenue increase in the second half of the year.
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David Simon named among world's best CEOsRestricted Content

June 29, 2009
 IBJ Staff
The big cheese at Simon Property Group is wedged among the "top gun" executives in the U.S.
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Indianapolis loses two Bally fitness centersRestricted Content

June 29, 2009
 IBJ Staff
The closures come as the parent company reorganizes and competitors pump up their local presence.
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National cycling event pulled from VelodromeRestricted Content

June 29, 2009
 IBJ Staff
An 11th-hour deal to keep this year's USA Cycling Masters Track National Championships at the Major Taylor Velodrome has fallen flat, and the event has been moved to Colorado Springs.
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