A consultant told business leaders in the Evansville area Tuesday that they should pounce on the chance to build an intermodal facility where freight containers can be exchanged between railroads and trucks, and do it before Terre Haute follows through on desires to launch a similar project. Morley and Associates business development director John DiDomizio […]
Steak n Shake Co. shares shot up 16 percent on Tuesday after a Dallas-based investment group reported it had amassed a nearly 10 percent stake in the company and plans to open talks on strategy, such as an acquisition or other “potential transactions to maximize shareholder value.” Affiliates of HBK Investments LP made the disclosures […]
A news conference has been called Thursday afternoon at a site near Indianapolis International Airport at which outgoing Purdue University President Martin Jischke will make an announcement about Purdue Research Park. State and local officials are expected to attend, too. In West Lafayette, Purdue Research Park has more than 90 technology related companies.
Ratio Architects’ design for the Indiana Convention Center expansion is futuristic and will help set a new tone for downtown buildings, two Indianapolis architects who didn’t work on the project said after seeing images released yesterday. Plenty of glass and horizontal planes will make the expansion look high-tech and inviting to convention planners, said architects […]
Tipton mayoral candidates say the $530 million transmission plant Chrysler Group and Germany-based Getrag Corporate Group are building near the town should provide job growth without disrupting the rural way of life associated with the community, according to the Kokomo Tribune. Getrag’s tax abatement request shows it intends to hire 1,088 Chrysler workers, and create […]
Eli Lilly and Co. won European approval today for its once-daily version of the impotence pill Cialis, Reuters reported. The OK from the European Commission could help Lilly differentiate its erectile dysfunction therapy from competitor Viagra. Before, Cialis and Pfizer Inc.’s Viagra have been taken as needed. But now, the new low-dose formulation of Cialis […]
Hospital network Clarian Health will begin charging its cigarette-smoking workers $5 per paycheck next year as punishment for the unhealthy habit. The fee applies to any worker covered by health insurance Clarian offers its employees. The smoking surcharge is part of a broader 2008 requirement by Clarian that each of its employees declare their health […]
Indianapolis-based based Marsh Supermarkets announced today it will close one store and remodel four others in Bloomington. The chain will close its South Walnut Street site in July and renovate the others with new fixtures and new product offerings. The changes will cost $2 million.
National Bank of Indianapolis plans to open a branch in the Village of West Clay, joining CVS and Chase Bank as the first retailers in the Art Deco-style retail village. The bank will be located in the Uptown section of The Village at 131st Street and Towne Road, locally based Brenwick Development Co. announced today. […]
Indianapolis-based BioStorage Technologies Inc., which stores and manages biomaterials for use in drug development and health care, said today that it has hired James M. Saponaro as executive vice president. Saponaro will oversee the company’s sales and marketing operations, its information technology and its business development functions. Saponaro spent the last 14 years as an […]
The Alliance of Area Business Publications over the weekend named IBJ the nation’s best large-market weekly business journal. The gold medal was among six awards the newspaper received during the association’s annual conference in Denver. Judges from the University of Missouri’s School of Journalism evaluated 772 entries from 59 publications, including papers in Los Angeles, […]
Plans to improve Central Railroad of Indianapolis tracks between Shelbyville and Cincinnati could mean some shippers will have a better alternative to trucks. Rail America Inc., headquartered in Boca Raton, Fla., is upgrading the track to prepare to carry 8,000 rail cars a year of finished autos from the Honda Motor Co. plant in Greensburg. […]
Tower Financial Corp. is putting off its planned launch of a bank in Carmel because the Indianapolis market is becoming too crowded, a Tower spokeswoman said today. “We’ve seen many banks coming to town,” Michelle Gray told IBJ. Fort Wayne-based Tower had announced last October that it planned to enter the Indianapolis market by opening […]
Indiana Bankers Association CEO James H. Cousins will retire July 1, the trade group said today. Cousins will be replaced by President S. Joe DeHaven, who will add the title of CEO. Cousins was president and CEO of the Indiana League of Savings Institutions when it merged with the Indiana Bankers Association in 2000, and […]
Revenue at plants in Kokomo and elsewhere that bankrupt Delphi Corp. intends to keep open will fall 40 percent, according to a Detroit Free Press report. The reduction, which resulted from a tentative contract with the United Auto Workers and Delphi’s main customer, General Motors Corp., will result in the Kokomo operation falling to $310 […]
A Carmel bank planned by Tower Financial Corp. has been deferred indefinitely, the parent of Fort Wayne-based Tower Bank & Trust Co. said today. Tower said in October it would form Tower Bank of Central Indiana with $13.5 million to $15 million in capitalization. The decision to pull back was driven by “Indianapolis market conditions” […]
Lloyd W. Benjamin III today said he will step down as president of Indiana State University when his contract expires June 30, 2008. Benjamin has been president of the Terre Haute university for seven years. He said he and his wife have other personal and professional ambitions they’d like to pursue.
Cohesant Technologies Inc. today posted fiscal second-quarter profit of $77,835, compared with profit of $502,254 a year earlier. Revenue of $7.4 million was up from $6.8 million. The Indianapolis company, which makes pipes and coating products for the water and wastewater markets, said the most recent quarter was hit by losses in its rehabilitation, and […]
Crawfordsville Road Partners LLC has bought 19 acres at the southeast corner of Interstates 465 and 74 on the west side with visions of attracting motorsports companies and hotels. Terms were not disclosed. The location is expected to benefit from being situated between Indianapolis Motor Speedway and O’Reilly Raceway Park, according to Meridian Real Estate, […]
