Locally based Kite Realty Group continued a strong run on the New York Stock Exchange this morning, gaining 28 cents to reach a 52-week high of $21.54. The stock has risen roughly 40 percent in the last 12 months, outpacing larger Indianapolis developers Simon Property Group and Duke Realty Corp. Simon is up 32 percent […]
A Florida-based Internet business owes refunds to an estimated 10,000 Hoosiers for placing charges and fees on their phone bills without authorization, Indianan Attorney General Steve Carter said today. Email Discount Network didn’t honor cancellation requests to the online shopping company, Carter said. The company charged $12.95 or $14.95 a month in return for coupons […]
Three months ago, WellPoint Inc. executives were making trips to California to politely discuss their concerns with Gov. Arnold Schwarzenegger’s universal health insurance plan. Apparently that didn’t work so well. Now, WellPoint’s subsidiary in California-Blue Cross of California-has launched a newspaper and TV campaign opposing Schwarzenegger’s plan because it would require insurers to sell policies […]
Emmis Communications Corp. has been downgraded by Bear Stearns & Co. to “underperform” from “peerperform.” The Wall Street investment firm said it based the decision on widespread speculation in “Radio Ink” and other trade press that CEO Jeff Smulyan will make another attempt to take the Indianapolis broadcaster private. The timing would be poor partly […]
Biomet Inc. has agreed to pay $600,000 in legal fees and make additional information available to shareholders in order to settle class-action lawsuit opposing its pending sale to a group of private equity firms, the Warsaw prosthetics maker said in a Securities and Exchange Commission filing yesterday. The settlement isn’t expected to affect the $10.9 […]
Alliance for Community Education, a not-for-profit that offers job training in Hancock County east of Indianapolis, faces an uncertain future because it is generating only $36,000 in annual revenue instead of the target income of $140,300. If more funding isn’t found, its resources will be drained by the end of the year, according to the […]
Robert Quadrozzi, a Massachusetts native credited with helping the east-central Indiana city of Portland fill an industrial park, died Thursday after his vehicle left the road near Muncie and smashed into a semi-trailer truck near a factory. Delaware County Coroner Scott Hahn told The Star-Press of Muncie that the 69-year-old was driving home after undergoing […]
Steak n Shake Co. said today it is using frying oil with no trans fat at its 478 restaurants, but it isn’t first to switch. Kentucky Fried Chicken and other companies have eliminated the unsaturated fat due to its reputation for raising cholesterol levels. Indianapolis-based Steak n Shake has introduced yogurt shakes, chicken sandwiches and […]
ABC earned a 4.6 overnight Nielsen rating for live television coverage of this year’s rain-delayed Indianapolis 500, from 1 p.m. to 3 p.m. eastern time and 6 p.m. to 7:15 p.m. That was down 8 percent from a 5.0 rating last year. Each rating point equals about 1 million households nationally. Fox’s coverage of NASCAR’s […]
The Indiana State Teachers Association Insurance Trust has agreed to co-brand its health insurance with Minnesota-based UnitedHealthcare. The deal gives UnitedHealthcare, the nation’s largest health insurer, access to the association’s 47,000 members. And it lets the teachers association’s insurance arm use UnitedHealthcare’s provider networks, internal computers systems and clinical services.
More than 100 courses now transfer from Ivy Tech Community College’s 23 campuses to Indiana University’s Bloomington campus, the institutions said today. The change also expands existing transfer agreements between regional Ivy Tech schools and IU campuses statewide. In addition, new agreements between the schools will allow Ivy Tech two-year degrees to count toward IU […]
Christopher Pfaff, Indiana Economic Development Corp.’s longtime director of business development has been named director of the Center for Business Support and Economic Innovation at Indiana State University in Terre Haute, the center said today. The center is ISU’s part of a new organization called the Terre Haute Innovation Alliance. The Alliance is a partnership […]
Merrillville gas and electric utility NiSource Inc. said today it has opted against a sale of its electricity unit. Through talks with potential buyers, no transaction met all of NiSource’s demands, the utility said. The company didn’t disclose which parameters could not be met. Media reports earlier this year named Duke Energy Corp. among other […]
Institutional Shareholder Services, a shareholder advisory service based in Rockville, Md., has urged Biomet Inc. shareholders to reject a $10.9 billion private-equity deal for the company because it is priced too low, The Wall Street Journal reported. A vote is scheduled June 8. Biomet is being acquired by LVB Acquisition LLC, Goldman Sachs & Co., […]
Toyota Motor Corp., which builds vans, pickup trucks and sport-utility vehicles in Princeton, isn’t likely to see its North American sales growth slow to only 1.6 percent this year, as it has predicted. Rather, the Japanese automaker could grow five times that fast, say analysts quoted by Bloomberg. Sales probably will slow from the 15 […]
Indianapolis interior designer Rowland Design Inc. has been hired by The Seasons Lodge & Conference Center Hotel in Nashville to plan 20 to 40 rooms to replace 60 lost to a massive blaze Jan. 2. Though fewer in number, the new rooms will be better, owner Andy Rogers told the Brown County Democrat. Authorities said […]
Costs associated with the April 20 acquisition of Adesa Inc. by a group of private equity funds caused first-quarter profit to rise only 3.9 percent, to $38 million, the Carmel-based auto auction reported late yesterday. Had it not been for the $2.4 million expense, earnings would have increased 11.3 percent. Kelso & Co., Goldman Sachs […]
California regulators are investigating whether a $950 million dividend sent by Blue Cross of California this month to its parent, Indianapolis-based WellPoint Inc., was excessive. The officials say no more than $141 million should have been paid to WellPoint, according to the Los Angeles Times. A California insurance commissioner imposed conditions on the former Anthem […]
Plenty of rooms were available in Lafayette-area hotels over the weekend despite nearby Indianapolis hosting the 500-mile race Sunday. That’s because so many hotels and motels have been built in Indianapolis and adjacent cities in recent years that demand for lodging has slipped in Lafayette, according to the Journal & Courier. One Lafayette hotel, the […]
Goshen-based food service distributor Troyer Foods Inc. said today it has bought Beasley Food Service Inc. of Bloomington for an undisclosed price. Troyer generates $160 million a year in sales, and Beasley, $17 million. Beasley will be a division of Troyer. Troyer serves Indiana, Ohio, Illinois, Michigan and Kentucky
