Sallie Mae, the student lender based in Virginia, issued a statement today saying it expects a group of investors to follow through on a $25 billion acquisition agreement. The statement was a response to New York Times article today that said the consortium of J.P. Morgan Chase & Co., Bank of America and two private […]
The Kresge Foundation has committed $900,000 to WFYI, a key contribution that could help the Indianapolis public radio and television broadcaster polish off a $20.2 million campaign to help it complete a transition to digital broadcasting. If WFYI can raise a final $2.2 million, Kresge will become the last contributor, bringing the total to $20.2 […]
The Indianapolis Cultural Development Commission today approved funding intended to pay for a public art display of Chakaia Booker sculptures in Indianapolis next year. The commission gave the Arts Council of Indianapolis the OK to pull $85,000 from this year’s budget and committed to approving another $165,000 from 2008’s budget for the project. The council […]
Warren G. Lichtenstein, who has made a name for himself by launching hostile takeovers, has made his dissatisfaction with Conseco Inc. public in a Securities and Exchange filing. Lichtenstein said he plans to review investment in the Carmel insurer by his Steel Partners II fund and start discussions with Conseco managers and directors “concerning the […]
Clarian Health Partners is negotiating with Lakeshore Bone & Joint Institute in Chesterton about the possibility of creating a health care campus in northwest Indiana, according to the Post-Tribune of Merrillville. Indianapolis-based Clarian said the campus would include an orthopedic hospital. Lakeshore, which is owned by orthopedic physicians, has locations in Lake, LaPorte and Porter […]
After having survived the recent opening of Four Winds casino in nearby New Buffalo, Mich., northwest Indiana casinos now face another threat-the possibility of Illinois lawmakers allowing three gambling venues to open to help fund the Chicago-area’s mass transit system. If Illinois proceeds, the Indiana casinos, which recently spent heavily on upgrades to fend off […]
Flint & Walling Inc. plans to add 25 workers to its current roster of 130 at its headquarters in Kendallville in northeastern Indiana, the Indiana Economic Development Corp. said today. The $5 million expansion includes additional manufacturing and warehouse space. The company, which makes pumps, is owned by Louisville-based Zoeller Co. Flint & Walling has […]
Genesco Inc. this afternoon sent a letter to Finish Line Inc. saying it must not “continue to stall” and should move forward with completing its $1.5 billion cash buyout of the Tennessee company. The letter comes in the wake of recent moves by Finish Line and its bankers-New York-based UBS Financial Services Inc.- suggesting they’ll […]
Finish Line Inc. said this afternoon that its bankers have decided not to close on the financing for the company’s $1.5 billion cash purchase of Tennessee-based Genesco Inc. until they gain a better understanding of Genesco’s weakening financial condition. The move by New York-based UBS Financial Services may pressure Genesco to accept a lower price […]
Bridgestone Firestone Diversified Products plans to expand and relocate its corporate headquarters into a new building at 96th Street and Interstate 465. The company has signed a lease for 168,000 square feet in Parkwood West and plans to move from a 90,000-square-foot space in nearby Parkwood Crossing. Both properties are developed and owned by locally […]
The International Brotherhood of Teamsters is trying to enlist local workers in its attempt to wrest representation of United Airlines mechanics from another union. A Teamsters organizer says the union contacted 350 former United mechanics in the Indianapolis area over the weekend to try to persuade them to go along with an effort to abandon […]
Imagine four new lanes on Interstate 70 built only for trucks. That scenario could emerge from a feasibility study funded yesterday by the U.S. Department of Transportation. A coalition of Indiana, Illinois, Missouri and Ohio received $3 million to recommend ways to speed freight on the interstate. Missouri received an additional $2 million to study […]
A Texas consulting firm is telling LaPorte County officials in northwest Indiana that a proposed intermodal facility will require 5,000 acres-nearly twice the space initially anticipated, according to the Post-Tribune of Merrillville. Only about 500 acres would be needed for the actual facility, where goods would be shifted back and forth between railroad cars and […]
Flodraulic Group Inc. is moving its headquarters from 3131 N. Franklin Road on the far-east side to the Mount Comfort area of Hancock County a few miles east. The company, founded in 2003, distributes hydraulic, pneumatic and lubrication components. The $2.6 million project will result in Flodraulic adding 11 workers, according to the Indiana Economic […]
Purdue University has received another shot of money to find ways to use engineering principles to improve health care. The Regenstrief Foundation has donated $2.45 million to improve cancer care, patient scheduling, and phone- and internet-based health care, Purdue officials announced this morning. The Indianapolis-based foundation, which helped launch Purdue’s Regenstrief Center for Healthcare Engineering […]
Indiana University climbed to 5th place from 15th a year earlier in this year’s The Wall Street Journal annual ranking of business schools. IU, which was classified among regional institutions, performed better this year than Purdue University, which saw its ranking drop to 12th from 4th. The University of Notre Dame climbed to 14th from […]
Bernardin Lochmueller & Associates Inc., the Evansville civil engineering firm that’s leading consulting work on the extension of Interstate 69, has warned other consulting firms and local police that the environmental group Earth First is ramping up its opposition to the road project, according to the Evansville Courier & Press. Earth First members raided engineering […]
Centrifuge maker Beckman Coulter Inc. expects to add about 120 jobs at a new facility on West 76th Street and has applied for tax abatements worth a total of about $644,000. The Fullerton, Calif.-based company announced in January that it planned to move its Palo Alto facility to Indianapolis to cut costs and improve staff […]
After being forced out of his high-paying job with WellPoint Inc. earlier this year, David C. Colby is now selling his house. Asking price: $1.6 million. The historic home owned by Colby and Angela Doan, who called herself his wife, features six bathrooms, five bedrooms, three fireplaces and a 1.25-acre lot. The brick structure encompasses […]
Cook Medical said yesterday it will add 50,000 square feet to its 104,000-square-foot facility in Spencer that manufactures devices for its Urological and Women’s Health divisions. It’s too early to know what the project will cost or how much hiring will result, said Dave McCarty, spokesman for Bloomington-based Cook. The facility now houses about 300 […]
