IBJ Staff

Workers at Haynes International Inc. in Kokomo will receive lump-sum payments of $4,000 each as a result of a three-year contract they ratified 362-85 yesterday. The pact with United Steel Workers Local 2958 includes a 12-percent general wage increase over the period and a boost in pensions of $300 to $400 a month, said District […]

General Motors Corp. said today it has sold its Allison Transmission division to The Carlyle Group and Onex Corp. for $5.6 billion. Virtually all of Allison will shift to Washington, D.C.-based Carlyle and Toronto-based Onex. GM is keeping a production facility in Baltimore, Md. The sale, anticipated in a story published in the Financial Times […]

The 1.7 million additional gallons of fuel per day anticipated from the proposed expansion of BP’s refinery in Whiting could bring needed stability to Midwest gas prices, energy insiders said this week. The $3 billion project will allow the northwest Indiana location to process heavy Canadian crude oil, according to the Post-Tribune of Merrillville. Industry […]

Martinsville’s plan commission voted unanimously Tuesday to reject a proposal to rezone 133 acres from agricultural to planned-use status in order to clear the way for what developers Stephen Rosenbaum and Diana and James Tiffany said would be a ranch to serve children with autism and low IQs. Residents who packed city hall complained that […]

Oak Street Funding, a Carmel company that makes loans to insurance agencies secured by commissions, has been bought by Bridge Finance Group of Chicago in a deal Bridge values at about $75 million. Oak Street will become a subsidiary of Bridge and Oak Street President Rick Dennen will report to Bridge CEO Randy Abrahams, Bridge […]

More than a year after PepsiCo Inc. began scouting the Indianapolis area for a site on which to build a warehouse for its Gatorade drink, the New York company has bought 105 acres in AmeriPlex industrial park near Indianapolis International Airport and broken ground. PepsiCo will build 1.1 million square feet of distribution space at […]

Indiana Supreme Court today found for the city of Carmel in a case regarding landowners who contested a settlement between the city and people who owned property that was part of an annexation of territory in Southwest Clay Township. The Supreme Court found that not all conditions were met to defeat an otherwise valid ordinance […]

A Wall Street analyst said today that Steak n Shake Co. might fetch about $20 a share, or $570 million, if the company ultimately is sold-a hefty premium to where it now trades. Investors have been buzzing about Steak n Shake’s future since a group of Dallas-based investors disclosed in a regulatory filing this week […]

Allison Transmission could ramp up military sales under ownership by Carlyle Group and another private equity firm, a local business leader said.Although Indianapolis-based Allison emphasizes manufacturing truck transmissions, the company could see sales of transmissions for tanks and other military vehicles soar if Carlyle and Onex Corp. win an auction for the General Motors division, […]

Keller Crescent Co., an Evansville package printer and advertising firm, has been bought by Clondalkin Group of Amsterdam in the Netherlands for an undisclosed price. Keller employs 100 at a printing facility it operates at 6448 Saguaro Court on the northwest side. It mostly supplies Eli Lilly and Co. The company has 400 at a […]

A private equity consortium of Carlyle Group and Onex Corp. has bid the most for Allison Transmission, according to the Financial Times, which quoted anonymous sources. Owner General Motors wouldn’t comment, but the newspaper said the Carlyle and Onex bid was awaiting approval from the United Auto Workers last week. The other bidders-a party that […]

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.