Shares of Steak n Shake Co. tumbled this morning after the Indianapolis company reported late yesterday that same-store sales in its fiscal second quarter declined 6.3 percent. The stock fell 10.6 percent, to $6.81 per share. It was the 11th consecutive quarter in which the diner chain reported falling same-store sales. The company blamed the […]
A call center operator announced today that it will add a location in Terre Haute and hire 600 workers before 2009. Alorica Inc., headquartered in Chino, Calif., will occupy 50,000 square feet in Plaza North Shopping Center, 1800 Fort Harrison Road, on Terre Haute’s north side, according to the Indiana Economic Development Corp. The space […]
Natural gas prices will increase as much as 30 percent next winter over past winter, according to the Evansville Courier & Press, citing Vectren Corp. CEO Niel Ellerbrook. Prices are rising because customers want an alternative to utilities that use coal, which causes more pollution, Ellerbrook told investors at an annual meeting. Ten years ago, […]
United Way of the Wabash Valley will lose its largest contributor when Pfizer Inc. shuts down its Terre Haute operation next year, reports The Tribune-Star. When that happens, the remaining 140 workers will be out of a job. Pfizer gave $360,000 to the United Way fund in last year’s drive, nearly 20 percent of its […]
The Shelbyville Redevelopment Commission has approved creating a tax increment financing district near the Indiana Downs racino, according to The Shelbyville News. About 80 residents showed up at a Monday night vote to voice opposition to the district, which would use taxes collected in the area to fund infrastructure improvements rather than going toward schools, […]
Noble Roman’s Inc. reported $321,431 in net profit in the first quarter, less than half the $703,003 it earned a year earlier. The Indianapolis restaurant chain said the decline was caused by slowing growth in co-brand franchises. Under an initiative announced in November, Noble Roman’s is screening potential franchisees more carefully, training new franchisees longer, […]
Just Marketing International plans to spend more than $3 million to expand its Zionsville headquarters. The motorsports marketing company said the expansion will create 47 jobs that pay up to $28 an hour. Just Marketing employs 90. The company will receive up to $350,000 in tax credits and training grants, as well as a possible […]
The Indianapolis Convention & Visitors Association and the Indianapolis Cultural Development Commission have launched an in-state ad campaign promoting local tourism. The campaign, which will also run in Chicago, Cincinnati and St. Louis, uses high gas prices to entice residents to be a tourist close to home. The 2008 campaign spots will be shown 10,000 […]
The Speedway Town Council has named Barbara Lawrence the new town manager for Speedway. Most recently, Lawrence served as executive director of the Indianapolis Bond Bank. In her 25 years of public service she has held financial and management positions with the State of Indiana, was director of the Indianapolis Department of Public Works and […]
Eli Lilly and Co. this morning held a dedication ceremony for the last phase of its $1 billion biotechnology complex southwest of downtown Indianapolis. The latest addition is a 475,000-square-foot laboratory building. It will house nearly 500 Lilly scientists and support staff who are moving from an older building used to make propellers during World […]
The art collection in the estate of Columbus industrialist J. Irwin Miller and his wife, Xenia, could bring $80 million next month at a Christie’s auction in Europe, according to The Republic of Columbus. The collection includes works from artists including Pablo Picasso, Henri Matisse and Andy Warhol, among others. A painting of water lilies […]
New traffic and sidewalk restrictions are being put in place near the RCA Dome so that demolition work can begin. Closing two lanes of Capitol Avenue in downtown Indianapolis will allow preliminary work, such as removal of the dome’s signs. City police officials do not expect the new lane restrictions to cause significant traffic troubles. […]
U.S. Steel Yard, the baseball stadium Gary officials hoped would draw development into city’s downtown, is experiencing mixed success five years after opening, according to the Post-Tribune of Merrillville. It still isn’t making money and the city’s stadium fund had $8,000 in it at the end of 2007, down from $15,000 when the year began. […]
Shelby County residents who oppose a tax increment financing district near the Indiana Downs racino are expected to show up in large numbers this evening at the last public meeting scheduled before the Shelbyville Redevelopment Commission, according to The Shelbyville News. The Shelbyville plan commission and city council already have approved creating a fourth TIF […]
Indianapolis-based publisher and broadcaster Emmis Communications Corp. said today that its fourth-quarter net profit widened to $15.8 million from $10.7 million a year earlier due to a $21.2 million charge for its broadcast licenses. Revenue in the quarter ended Feb. 29 increased 9 percent, to $85.8 million. And revenue climbed in both segments. Emmis recorded […]
Delta Faucet Co. laid off another 95 workers from its Greensburg plant yesterday, the company’s third round of cuts this year, according to the Greensburg Daily News. The Carmel-based company idled the same number of workers in mid-March. The new cuts will leave about 567 workers employed at the Greensburg facility. The cuts have been […]
ChemGen Corp., a biotechnology company based in Maryland, has bought a long-empty manufacturing plant in Terre Haute, according to the Terre Haute Economic Development Corp. ChemGen makes a natural feed additive that helps chickens, turkeys and pigs digest food. It expects to hire up to 20 people and begin operating in the plant by the […]
A renewable energy company that is building an ethanol plant in Bluffton has agreed to be sold to an Omaha, Neb., ethanol firm. The acquisition of VBV LLC is valued at $383 million, the buyer, Green Plains Renewable Energy Inc., announced late yesterday. VBV is a Delaware company owned by Ireland-based NTR plc and the […]
FinishMaster Inc. posted first-quarter profit of $6.3 million, nearly double the $3.2 million of a year earlier, the Indianapolis company announced late yesterday. FinishMaster attributed the upswing to a settlement from a lawsuit and a one-time prior year charge. Without the two items, profit would have been $3.2 million, down from $4.2 million a year […]
Shares of Plainfield-based Brightpoint Inc. increased 3 percent, to $9.76, this morning after sliding nearly 5 percent earlier in the day. The gyrations came after the cell phone distributor announced late yesterday that it earned $7.3 million, or 9 cents per share, in adjusted net income in the first quarter, less than the 12 cents per […]
