A ban on drawing greater amounts of water from the Great Lakes is expected to pass the Indiana General Assembly this session, according to the Post-Tribune of Merrillville. The Great Lakes Compact – agreed to by governors of eight states and two Canadian provinces – would prohibit new and increased diversions unless the governors approved. […]
Traders are running up the price of oil on the New York Mercantile Exchange despite some analysts’ predictions that oil will fall as the economy slows. In the past two months, $200 options have increased 10-fold, to 5,533 contracts, according to Bloomberg. That’s the fastest-growing bet on oil. Matthew Simmons, chairman of an energy-focused investment […]
Officescape, an Indianapolis-based provider of technology for offices, has bought BMS, a broadband management service, from Telamon Corp. in Carmel for an undisclosed price. Officescape said the transition would be seamless, and that the nine BMS workers would be offered jobs. Headquartered at 8910 Purdue Road on the northwest side, locally owned Officescape has 20 […]
Indianapolis drug company Eli Lilly and Co. and its development partner met their year-end deadline to submit blood thinner prasugrel for regulatory approval. Lilly and Daiichi Sankyo Co. Ltd. filed for U.S. Food and Drug Administration approval on Dec. 26, they announced today. Prasugrel could be a blockbuster if it successfully supplants the current best-selling […]
The Indiana Children’s Wish Fund has received a settlement of an undisclosed amount related to an investment made by a brokerage firm the Wish Fund said was too risky, according to The New York Times. In June, The Wish Fund invested nearly $223,000 in a mutual fund recommended by Morgan Keegan. The fund, which had […]
Ivy Tech Community College has created the position of provost and named Donald Doucette to the post. The provost serves as chief academic officer of the college, overseeing development and implantation of Ivy Tech’s 150 programs on its 23 campuses across the state. More than 110,000 students are enrolled at Ivy Tech. Since 1993, Doucette, […]
The sole remaining car dealership in Gary has been sold, and it won’t stay in the struggling city. The Dodge franchise was sold by Bob Nielsen and Jeff Nielsen to Isakson Chrysler in nearby Hobart, according to the Post-Tribune of Merrillville. The Nielsens have shifted parts and service operations to their Buick and Subaru dealership […]
Soaring oil prices and unrest in the Middle East and other regions where oil is plentiful may help the drilling industry in Indiana, Illinois and Kentucky, according to the Evansville Courier & Press. Drilling in the three states may have increased 20 percent in the past few years, Chris Mitchell, president of Illinois-based George N. […]
Two outdoor retailers south of Indianapolis say they won’t operate differently after the Cabela’s mega store opens near Interstate 65 this year. The Outdoorsman Sport Shop is banking on continued service and customer loyalty to weather the new round of competition, according to the Daily Journal of Franklin. Cabela’s workers won’t be as knowledgeable as […]
A New York company has closed on its acquisition of Lafayette Square Mall and hired a management company to run the property. The new owner, Ashkenazy Acquisition Corp., plans to keep the 1.2 million-square-foot property as a regional mall and focus on filling vacant anchor spaces, since most of the smaller spaces are full, said […]
A giant Australian shopping mall company with four Indianapolis properties has put itself up for sale after a buying spree of U.S. malls drove it into financial problems. Centro Properties Group said today it is “evaluating options” to secure its financial viability. The company has a deadline of Feb. 15 to refinance $3.4 billion in […]
The Indianapolis law firm of Bingham McHale has merged with McTurnan & Turner, which specializes in litigation. Both are downtown in Market Tower. Ten attorneys and seven support staff from McTurnan & Turner will join Bingham McHale, the firms announced today. A Bingham McHale spokesman said the merger will add business litigation prowess to an […]
Eli Lilly and Co. will hand over documents to a United Kingdom agency that is investigating whether it and two other drugmakers bribed the administration of former Iraqi dictator Saddam Hussein. The U.K.’s Serious Fraud Office has requested documents from locally based Lilly as well as from U.K.-based GlaxoSmithKline and AstraZeneca, according to a Bloomberg […]
Nine Macy’s department stores will close, including the one in Washington Square Mall, Cincinnati-based Macy’s Inc. announced this afternoon. The Washington Square store employs 90. It opened in 1974 as an L.S. Ayres store. Macy’s didn’t specify when the store will close. The other stores closing are in Ohio, Texas, Utah, Oklahoma and Louisiana. The […]
A locally based financial institution is hoping to slow a high rate of foreclosures by lending up to $50 million to Indiana banks at attractive rates. The Federal Home Loan Bank of Indianapolis, part of a network of government-sponsored banks that lend to member institutions, will split $100 million between Indiana and Michigan in a […]
Tanya Bell has been named CEO of The Indiana Black Expo Inc. Bell will be tasked with fund development, partnership development and the role of liaison between the board of directors and the staff of IBE. Bell, 33, has been on the organization’s board for the past six years and played a key role in […]
Software developer LHP Inc. today said it plans to invest $1 million and add 320 workers by 2011 at its Columbus, Ind., headquarters. LHP, which employs 130 in Columbus, does work for the military, automotive and medical industries globally. LHP will begin hiring technology specialists, engineers and administrative workers next year. The company will receive […]
A Tennessee court has ruled against Finish Line Inc., saying it must complete its $1.5 billion purchase of Nashville, Tenn.-based Genesco Inc. Finish Line has been trying to walk away from the deal due to Genesco’s poor financial results in the second quarter. But the court ruling said the Indianapolis-based shoe retailer would breach its […]
Mayor-elect Greg Ballard today named the following to his administration team: – Olgen Williams, deputy mayor for neighborhoods; – Paul Okeson, chief of staff; – Chris Cotterill, corporation counsel;- Carolin Requiz Smith, director of Latino affairs; – John Cochran, special counsel to the mayor;- Greg Wilson, director of minority business development; – Marcus Barlow, press secretary. Williams is executive director of […]
Huntingburg-based OFS Brands Holdings Inc. officials said today they plan to spend $81 million to expand its southern Indiana headquarters and manufacturing facility and hire more than 300 workers over the next five years. OFS, which makes and distributes office furniture, has about 1,500 employees in Indiana. It will begin hiring production associates, supervisors, upholsters […]
