The University of Notre Dame will lead a new research consortium that will launch the Midwest Academy of Nanoelectronics and Architectures in South Bend, reports the South Bend Tribune. The academy will attempt to develop the next nanoscale logic device, which is a basic building block of smaller, faster computers. The consortium includes Purdue University […]
The Anderson Plan Commission has approved an ordinance that would let large companies use icon signage in the city, reports The Herald Bulletin. The rule, passed March 25, would let Nestle construct a 45-foot-tall, 3-D replica of the Nestle NesQuik rabbit leaning against a 40-foot-tall glass of chocolate milk. The company has built a $360 […]
The Lebanon City Council is considering a plan to annex land surrounding I-65 south of the current city limits that would roughly double the city’s acreage, according to The Lebanon Reporter. The area under consideration would be a mile-wide swath, straddling the interstate and stretching south from the city almost to State Road 267. A […]
Frank Basile, one of the city’s veteran real estate executives, plans to retire May 1 after 33 years with Gene B. Glick Co., Glick announced today. Basile is senior vice president in charge of the company’s property management division. The Indianapolis firm manages 17,000 apartments in 11 states. “Frank helped to make our company a […]
Witham Health Services and St. Vincent Health will build a 42,500-square-foot medical facility inside the Anson development in Boone County, the two hospitals announced today. The new facility will cost $10 million to $12 million to build and will feature a freestanding emergency department. It will operate 24 hours a day. Duke Realty Corp. and […]
BioConvergence expects to create as many as 170 new jobs by 2011 as it grows its drug development and logistics services, the Bloomington company said today. The company plans a ribbon-cutting ceremony this afternoon on a 21,000-square-foot expansion of its facility. BioConvergence is growing because of a 10-year, multimillion-dollar contract it signed in late 2006 […]
General Electric Co. said yesterday that ideas submitted by workers to make its Bloomington refrigerator plant competitive fell short, and that the plant will be shuttered by the end of next year. Employees had tried since the initial closing announcement in January to find ways to make the plant more efficient. GE spokeswoman Kim Freeman […]
Brian K. Snyder, an Indianapolis financial adviser, was sentenced Friday to 33 months in prison after being convicted in October of using $245,000 of clients’ funds for his personal benefit. Federal Judge David Hamilton also ordered Snyder, 46, to pay $177,000 in restitution to two clients. The clients were Tech Traders Ltd., which was based […]
Declining claims have prompted car insurance companies to lower rates in Indiana, according to The Journal Gazette of Fort Wayne. Insurers’ experience in the state has been favorable overall in recent years, even though they paid out millions of dollars on claims stemming from the hailstorm that struck central Indiana in April 2007. An insurer […]
Keira Amstutz, a key player in former Mayor Bart Peterson’s cultural tourism push, today will be named president and CEO of the Indiana Humanities Council. Amstutz, who served as chief counsel and director of policy under Peterson, takes over April 14. The position has been vacant since May 2007, when Scott Massey resigned to lead […]
Targanta Therapeutics Corp., a Massachusetts antibiotic-development firm with strong ties to Indianapolis, lost $10.7 million in the fourth quarter, $1 million more than it lost in the same quarter a year earlier. The company is commercializing an antibiotic developed by Eli Lilly and Co. to fight skin cancer. Targanta had its headquarters in Indianapolis before […]
Property tax reform took center stage during the just-completed session of the Indiana General Assembly. But lawmakers also grappled with a host of other measures with business implications. A roundup appears below. ILLEGAL IMMIGRATION ENFORCEMENT One of the session’s most divisive issues-whether to penalize companies that hire illegal immigrants-died during the waning hours. Under the legislation, introduced by Sen. Mike Delph, R-Carmel, companies could have had their business licenses suspended, or revoked after three instances. The Senate and House passed…
Standard & Poor’s plans to rate the corporate credit and debt of Hillenbrand Industries Inc. at a BBB- rating instead of its current A- after the Batesville company spins off its Batesville Casket Co. business on March 24. Hillenbrand, which focuses on hospital beds and other health care equipment, is receiving the downgrade because the […]
A.M. Best Co. lowered its outlook on WellPoint Inc.’s financial strength, citing concerns about the company’s growth potential. Best, the nation’s most-influential insurance ratings agency, maintained WellPoint’s A grade, which means it is in excellent position to pay future medical claims. But Best lowered its outlook on the Indianapolis-based health insurer from positive to stable. […]
Indianapolis-based Simon Property Group plans to construct the third-tallest building in Boston. The 47-story residential tower in Copley Place will be overshadowed only by the 52-story Prudential Tower and the 60-story John Hancock Tower, according to The Boston Globe. The first four floors of the luxury condominium tower will comprise retail space. Simon also is […]
A restructuring announced last year will result in 75 to 100 workers being laid off from Kimball International Inc.’s headquarters in the southern Indiana city of Jasper. Most of the affected workers will be white-collar, according to the Evansville Courier & Press. About 150 of the furniture and electronics maker’s 4,000 positions are expected to […]
Locally based Noble Roman’s Inc. has hired a financial adviser to help it explore strategic alternatives, a move that often opens the door to a company’s sale. The struggling franchise pizza chain, which has about 1,000 locations across the United States, said it has hired Newport Beach, Calif.-based Roth Capital Partners to evaluate “various strategies […]
Bloomington medical device maker Cook Medical has won a lawsuit brought by Edwards Lifesciences Corp. over patents on Cook’s devices for fixing aneurysms. Edwards, based in Irvine, Calif., claimed four of Cook’s Zenith endovascular stent-grafts infringed its patent. The stents are used to treat abdominal aortic aneurysms and thoracic aortic aneurysms.
The psychiatric unit of Home Hospital in Lafayette is expected to reopen in the next week after being closed for the past 14 months, according to the Journal & Courier of Lafayette. Home Hospital, which is operated by Lafayette-based St. Elizabeth Regional Health, closed in January 2007 when three psychiatrists stopped providing inpatient services at […]
Delta Faucet Co. has cut 95 blue-collar workers at its plant in Greensburg, leaving about 662 employees. The Carmel-based company blamed ongoing sluggishness in the housing market, according to the Greensburg Daily News. Earlier layoffs at the plant have claimed about 100 workers, and about 30 jobs at the Camel offices. Delta is owned by […]
