IBJ Staff

Lafayette Square and Washington Square malls no longer will have their Steve & Barry’s stores, now that the new owners of the popular clothing retailer have thrown in the towel on trying to keep the company afloat. Bay Harbour Management and York Capital Management, the investment firms that bought 173 of the stores out of […]

Eli Lilly and Co. won more than 95.5 percent of the shares of New York-based ImClone Systems Inc. in a tender offer that ended at midnight yesterday. Lilly expects to complete its acquisition of ImClone on Monday. Indianapolis-based Lilly has agreed to pay $70 in cash for each share of ImClone, or $6.3 billion for […]

Plastic film maker Bemis Co. Inc. plans to lay off 100 workers, or about 10 percent of its labor force, next month, according to The Tribune-Star of Terre Haute. Customers that normally allow Bemis to produce packaging in advance during the seasonal slow period of October to December haven’t renewed those contracts. Demand for the […]

Profit in Shoe Carnival Inc.’s third fiscal quarter plummeted 38 percent from the same period a year ago, the Evansville retailer reported today. The $2.6 million, or 21 cents per share, in net income fell far short of the 30 cents anticipated by analysts surveyed by Thomson Financial. CEO Mark Lemond said customers are buying […]

A prominent state senator filed a bill this week that would require retiring legislators to wait at least one year before they could lobby members of the Indiana General Assembly. Under the legislation proposed by Sen. Patricia Miller, R-Indianapolis, lawmakers who retire after June 2009 couldn’t register as a lobbyist before June 2010. The state […]

Economic turbulence has prompted Great Dane Trailers to severely curtail operations at its Terre Haute plant, but another plant in western Indiana operated by the truck-trailer maker has dodged a massive closing. Great Dane Trailers plans to lay off about 115 employees at its Terre Haute plant, leaving 115 workers, according to The Tribune-Star. Two […]

Months after receiving a $35 million injection of venture capital, Angie’s List has raised $18 million in venture debt, this time from a different firm. The Indianapolis company announced this afternoon that it has received $18 million from Lighthouse Capital Partners, a Menlo Park, Calif., firm specializing in secured loans to early-stage and expansion-stage technology, […]

Auto parts maker Remy International Inc. said yesterday that it turned in a $4.3 million profit in the third quarter, a stark contrast to the $39.3 million loss of a year earlier. Sales for the Pendleton company increased 1.5 percent to $279.4 million. A decline in sales to General Motors Corp. was offset by sales […]

City Securities Corp. has named Mark Miles to its board. Miles, 55, is CEO of Central Indiana Corporate Partnership, a not-for-profit that advocates economic-development strategies on behalf of corporate executives and university presidents. He also chairs the 2012 Super Bowl Host Committee. City Securities is a securities brokerage headquartered in Indianapolis.

Honda Manufacturing of Indiana said today that its new assembly plant in Greensburg will make a small number of Civic sedans that operate on natural gas. The plant, which opened a month ago and staged a dedication this morning, is projected to produce 800 conventional gas-burning Civics a day. Assembly of the “GX” natural gas […]

Quadraspec Inc., a West Lafayette life sciences firm backed by venture capital investors, has laid off about a dozen workers, according to The Journal and Courier of Lafayette. Founder and CEO Chad Barden said financial strains on Wall Street are forcing venture-backed companies like Quadraspec to become lean and profitable. Quadraspec, started in 2004 with […]