Shares of Targanta Therapeutics Inc. fell 7.5 percent yesterday in the company’s first day as a public company. The stock closed at $9.25 a share after opening at $10, the price sought in the $57 million initial public offering. Targanta is listed on NASDAQ under the ticker TARG. The Cambridge, Mass., firm is commercializing an […]
Honda Motor Co.?s announcement in August that it would limit hiring for its new Greensburg assembly plant to 20 Indiana counties is the latest sign Japanese automakers are hiring outside of union strongholds,The Wall Street Journalreported today. In a front-page article focused on the new plant, the newspaper said the United Auto Workers is considering […]
Arcadia Resources Inc., a publicly traded medical services firm, is expected to announce today that it is moving its headquarters to Indianapolis from the Detroit suburb of Southfield. The relocation will start with a few jobs that average $134,000 in salary and ramp up to a total of 315 by 2009, according to a source […]
Arcadia Resources Inc., a publicly traded medical services firm, is expected to announce today that it is moving its headquarters to Indianapolis from the Detroit suburb of Southfield. The relocation will start with a few jobs that average $134,000 in salary and ramp up to a total of 315 by 2009, according to a source […]
Village Pantry Inc., the former arm of Marsh Supermarkets Inc., has acquired 33 Next Door Stores convenience stores in northern Indiana and Michigan from Imperial Co. Inc. for an undisclosed price. Imperial is headquartered in Mount Pleasant, Mich. Village Pantry owner Sun Capital Partners said the additional stores will dovetail well with Village Pantry’s 146 […]
GilChrist & Soames, a local company owned partly by businessman Al Hubbard, who now directs the National Economic Council, has been sold for $51 million. Buying the Indianapolis maker of soaps, toothpaste and other hotel toiletries is Swander Pace Capital, a San Francisco private-equity firm. The deal is being financed by Allied Capital Corp. of […]
Sixteen Disney movies that won the Heartland Truly Moving Picture Award will be sold through a discounted promotion at Best Buy stores in nine states starting Oct. 14, according to Heartland Truly Moving Pictures. Best Buy stores in Indiana, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, South Dakota and Wisconsin will feature special displays highlighting the […]
Three local businessmen are planning a $100 million upscale residential neighborhood in Greenwood adjacent to Hickory Stick Golf Course. Allen Zaring and Pete Hils, founders of former local homebuilder Zaring National Corp., and Scott Estridge have formed Scott Homes LLC. The group purchased about 75 acres from National City Bank, which acquired the land out […]
Indiana University’s business school placed No. 1 in this year’s Princeton Review of business schools based on best classroom experience. The core curriculum is frustrating, challenging and fun-all at the same time, students said, and the faculty teach well despite their backgrounds in research. The annual survey also pegged IU overall as 18th in the […]
Bemis Co. Inc., the Neenah, Wis.-based plastic packaging giant, might be forced to lay off workers at its plant in Terre Haute, according to The Tribune-Star. The company is sagging under slowing sales and high costs, a spokeswoman told the Terre Haute newspaper. Last week, Bemis said it would soon cut costs and “adjust staffing […]
Indianapolis-based EnerDel Inc. this morning plans to unveil at a news conference a “cool running” lithium-ion battery pack it has developed specifically for the U.S. hybrid electric vehicle market. EnerDel CEO Charles Gassenheimer said the company could grow to $450 million in annual revenue by producing 300,000 of the battery packs a year. Automakers have […]
A group of Indiana University economists who forecast the state’s economy say they’ve become more pessimistic than they were in August, when they issued their most recent quarterly forecast. Woes in the nation’s housing market will cut growth and incomes the rest of this year and possibly into 2008, said one of the economists, Bill […]
Indianapolis-based Flaherty & Collins said it has sold its Central Park Metropolis apartment complex in Plainfield to the Chicago investment group Becovic for $29.5 million. The property has 264 units, bringing the price to $111,000 per unit.
The United Auto Workers has set Wednesday as the deadline to reach an agreement with Chrysler on a new four-year contract, reports The New York Times, citing people with direct knowledge of the negotiations. The sides were reported to be in talks over the weekend. Discussion is expected to continue today. Chrysler employs about 6,400 […]
Atlanta-based Collegiate Ventures LLC plans to build a $60 million mixed-used project on 6.4 acres in West Lafayette. The project would include 80 to 100 hotel rooms, 115 condos, and retail and office space. Construction of Champion’s Centre could begin in the spring and take up to 16 months to complete. The project will be […]
Only 50.7 percent of union workers at General Motors Corp.’s Fort Wayne pickup truck assembly plant ratified the tentative United Auto Workers contract, according to The Journal Gazette of Fort Wayne. Approximately 90 percent of eligible workers voted on the national contract. The plant has roughly 3,000 workers; 2,860 are hourly. The contract appears to […]
Ron West, a member of the Johnson County Council, has sold Royal Oak Golf Course in Greenwood to locally based Divine Investment Group for an undisclosed price, according to Leading Edge Commercial Real Estate Services, the brokerage firm representing both parties. The 350-member club, at 2080 S. State Road 135, was owned by R.H. West […]
By a vote of 107-1, workers at UPS Freight in Indianapolis have ratified their first contract with the trucking unit. The deal, which calls for higher wages, more benefits and improved working conditions, was reached Sept. 30. Local 135 represents 125 dockworkers and drivers. The Teamsters intend to use the agreement as a pattern to […]
Indiana Insurance Commissioner Jim Atterholt can begin liquidating the assets of Indianapolis-based Benicorp Insurance Co. after winning approval today from Marion County Circuit Court Judge Theodore Sosin. Sosin put Benicorp into receivership two months ago. Atterholt and his staff at the Indiana Department of Insurance took over Benicorp’s business as the company was three months […]
Central Library downtown will reopen in a ceremony Dec. 9. The glass-and-steel expansion was to have opened two years ago, and is $50 million over budget due to faults discovered in concrete in the parking garage. Two lawsuits over the construction are pending. The project will house more than 700,000 books and audio-visual materials.
