The owner of two riverboat casinos in Gary is talking with a state legislator about moving one of his two state gaming licenses to Steuben County in northeastern Indiana, according to The Times of Munster. Majestic Star owner Don Barden said the area near Michigan and Ohio is “underserved” for gamblers. The mayor of Gary, […]
Indianapolis-based Emmis Communications Corp. today announced it has acquired Inforadio, a national radio chain broadcasting in 13 Bulgarian cities.Balkan Broadcasting EAD, an Emmis subsidiary, purchased 100 percent of the stations’ parent company, Infopress & Company OOD, a Bulgarian limited liability company. The transaction is complete, and regulatory approval has been granted. Financial terms of the […]
The private-equity firm that bought Indianapolis-based Reilly Industries and re-made it last year into Vertellus Specialties has sold Vertellus to another equity firm, Wind Point Partners. New York private-equity firm Arsenal Capital Partners did not disclose terms of the deal. Indianapolis-based Vertellus, with 750 employees and annual sales of more than $450 million, was formed […]
Eli Lilly and Co. expanded its alliance with San Diego-based Ambrx Inc., the companies announced today. Indianapolis-based Lilly will use Ambrx’s protein-optimization technology, called ReCODE, in its efforts to develop biotech drugs. The two companies will try to bring to market drugs for treating metabolic diseases, central nervous system disorders and other conditions. Lilly will […]
Columbia Sussex Corp.’s ability to renew its license to operate the Casino Aztar riverboat in Evansville could hinge on a couple of words and their definitions, according to the Evansville Courier & Press. Evansville Mayor Jonathon Weinzapfel says the Indiana Gaming Commission should yank the license held by the Fort Mitchell, Ky., company because New […]
Former Purdue University President Martin C. Jischke and his wife, Patty, will co-chair a strategic planning committee charged with identifying service and programming priorities as well as funding opportunities for the Indianapolis-Marion County Public Library over the next five years. The Jischke-led strategic planning process will begin in the first quarter of 2008. As part […]
Angel investors – wealthy people who toss money at fledgling companies – received about the average rate of return as other types of private equity investments, according to a survey of 539 U.S. angels. The average rate of return of angel investments was 2.6 times the investment over a period of 3.5 years. “This average […]
Republic Airways Holdings today announced plans to repurchase as much as $100 million of its common stock, a move that helps lift earnings per share for the company at a time merger rumors are swirling around its big airline customers. Republic shares late this morning were trading at $19.90, up 2.5 percent on the day. […]
New gas stations and auto service shops will be barred from Greenwood’s two Interstate 65 interchanges if the city council approves a unanimous decision reached this week by the city’s planning commission. Truck-oriented businesses such as body shops and storage yards also will be banned. The city wants to lure high-end retail and other attractive […]
Regulators in India have rejected a patent claim by Indianapolis-based Eli Lilly and Co. for its Cialis erectile dysfunction drug. The drug’s basic components were synthesized in 1970 by Indian scientists at a government body that researches pharmaceuticals, the Central Drug Research Institute, an Indian drugmaker contended. Moreover, drugmaker Ajanta Pharma argued, the Indian scientists […]
Investors are selling off stock in Kokomo-based Haynes International Inc. despite a glowing earnings report yesterday. Shares in the maker of precision alloy parts for aerospace and chemical processing are down to $78.88 each this afternoon from $84.50 at yesterday’s close. The sell off came after Haynes reported fiscal fourth-quarter profit shooting up 73.8 percent […]
Cummins Inc.’s midrange engine plant in Walesboro will add a week to its Christmas break due to slowing demand for diesel engines in Dodge Ram pickup trucks. The holiday layoff will begin Dec. 17, a week early, and end Jan. 2, according to a spokesman for the Columbus company. About 540 workers are affected. Pickup […]
Columbia Sussex Corp., the Fort Mitchell, Ky.-based owner of Casino Aztar in Evansville, has been denied a renewal of its license to operate the Tropicana Casino and Resort in Atlantic City, N.J. Yesterday’s action by the New Jersey Casino Control Commission is only the second such denial in the 29 years gambling has been legalized […]
Ag Growth Industries LP, a Winnipeg, Canada, maker of grain-handling equipment, will add a location in an existing building in Union City in east-central Indiana, the Indiana Economic Development Corp. said today. The company, which fabricates augers, conveyors, grain storage bins, will occupy the former Union City Body Co. building, which has 163,000 square feet. […]
A ruling in federal court has removed several potential hurdles to the long-planned Interstate 69 extension, including one that sought to block a section through Perry Township in Indianapolis, reports the Evansville Courier & Press. The decision handed down late Monday by U.S. District Court Judge David Hamilton denied plaintiff claims that Major Moves disallowed […]
Eli Lilly and Co. has completed shifting exclusive production of a tuberculosis antibiotic to Purdue Research Foundation. The foundation’s Chao Center for Industrial Pharmacy & Contract Manufacturing will manufacture and distribute the drug, called Seromycin. Lilly sold the rights for an undisclosed price and donated the manufacturing equipment. Approximately 10,000 Americans are thought to have […]
More than half of steel workers at plants around Lake Michigan could retire in five years, opening up hundreds of jobs, reports The Times of Munster. U.S. Steel Corp.’s plant in Gary, for example, plans to hire 250 hourly workers in each of the next several years, plus nearly 30 salaried employees. Hiring has been […]
Atlanta officials are in “extensive negotiations” to attract the College Football Hall of Fame from its South Bend home to the city’s Centennial Olympic Park, the Atlanta Business Chronicle reported late last week. Citing sources close to the negotiations, the newspaper said the talks have not advanced to the point of involving Atlanta Mayor Shirley […]
Cereplast Inc., a Hawthorne, Calif., manufacturer of bio-based plastic resins, will locate a plant in the southern Indiana city of Seymour, the Indiana Economic Development Corp. said today. The project will create as many as 200 jobs manufacturing and distributing resins made from plant starches rather than petroleum. Cereplast will invest more than $7 million […]
The Indianapolis-based promotional products arm of Marc USA has been acquired for an undisclosed price by Evigna, a similar company headquartered in the Detroit suburb of Madison Heights. Evigna is owned by CITG Promotions LLC. Marc USA is based in Pittsburgh. Marc Promotions, which has an office near Eagle Creek Park and another in Columbus, […]
