A Collins Aikman Products Co. auto parts plant in Morristown will close by the end of the month, according to The Shelbyville News, quoting a union representative. The plant east of Indianapolis employs 325. Collins-Aikman, of Southfield, Mich., has ended efforts to reorganize under bankruptcy protection that it sought in May 2005, and now is […]
Eli Lilly and Co. has agreed to buy Hypnion Inc., a Lexington, Mass., neuroscience drug research firm focused on sleep disorder. Financial terms were not disclosed. The acquisition is expected to close by the end of the month.
Kokomo and Tipton are the only Indiana cities where German automotive companies Daimler-Chrysler and Getrag Corporate Group have applied for air-quality permits to build a transmission factory, according to the Kokomo Tribune. The plant would employ 1,200 to make a fuel-efficient dual wet clutch. A representative of United Auto Workers Local 685 told the newspaper […]
College students across the state are avoiding computer science, a field where starting salaries often range from $50,000 to $80,000, because their parents think the jobs are scarce. At Purdue University, for example, only 550 are majoring in computer science fields, down 40 percent since 2002. Nationwide, the number is down 29 percent. In reality, […]
TS Tech North America might create 900 jobs in New Castle as it ramps up to supply seats to the Honda Motor Co. auto assembly plant at Greensburg, according to New Castle Mayor Tom Nipp. The Japanese company will hire 500 jobs with its first shift, then add 350 workers through a second shift. Ultimately, […]
Med Institute Inc., a medical research company in Purdue Research Park, is asking for tax abatements from the West Lafayette Economic Development Commission on $15 million in equipment in order to add 130 positions to the 130 it now has. The jobs would be created over several years, according to the Journal & Courier of […]
Indianapolis-based Republic Airways Holdings Inc. has renewed employment contracts with its three top executives and sweetened their compensation. Salary and minimum bonus for CEO and Chairman Bryan Bedford increased to $787,500 from $510,000. His minimum bonus nearly doubled, to $337,500. Bedford’s contract, which was to expire in July, now extends through June 2008. Smaller boosts […]
Steel Dynamics Inc. and Kobe Steel of Japan plan to build a plant in northern Minnesota to make iron nuggets that burn more efficiently in steel electric arc furnaces than traditional pig iron. The Fort Wayne steelmaker started anew after negotiations on the project with other steel companies sputtered in November. The $235 million project, […]
A Las Vegas investor has injected $300,000 into Standard Management Corp. by buying 3 million shares, according to the Indianapolis company, which sells pharmaceuticals to the long-term care industry. Sam Schmidt and other investors agreed to buy another 17 millions shares if certain collateral conditions are met related to a $2.5 million loan Schmidt made […]
Four complaints have been filed with the Indiana Attorney General’s Office against car dealer Payton Wells since he padlocked his three dealerships in late January. The number is a flurry compared to his record in recent years of only occasional complaints. Wells abruptly closed his Chevrolet dealership at 1510 N. Meridian St. and his Chrysler […]
Fort Wayne steelmaker Steel Dynamics Inc. said today it will invest $35 million to boost production of steel bars at its recycling mill at Pittsboro west of Indianapolis. The “debottlenecking” will increase production 45 percent, to 750,000 tons a year. However, the company wasn’t certain whether employment would climb much beyond the 350 now working […]
Indiana University trustees have voted unanimously to name Michael McRobbie, currently interim provost of IU Bloomington, as president. The widely anticipated appointment will replace Adam Herbert, who said about a year ago he would leave when his contract ends in June 2008. However, since a replacement was found earlier, Herbert now will step down July 1 this […]
The Indiana Attorney General’s Office has received five complaints about car dealerships owned by Indianapolis auto dealer Payton Wells, according to The Herald-Bulletin of Anderson. However, the newspaper didn’t report the precise nature of the complaints or whether the office plans to take legal action. Some consumers are irked that their business with the dealerships […]
The owner of historic Story Inn fears Brown County will suffer from competition from French Lick Resort Casino and West Baden Springs Hotel, which is slated to open this summer an hour’s drive south. Rick Hofstetter told the Brown County Democrat that the Orange County attractions might attract Indianapolis, Louisville and Cincinnati tourists who otherwise […]
Telecommunications provider Consolidated Communications Inc. announced it will open a call center in Terre Haute that will employ 100 temporary and seven full-time workers. The call center is part of Consolidated Market Response, a unit of the Illinois-based market support firm, and is expected to open in April 2007.
Navistar International Corp. will resume production of diesel engines at its International Truck and Engine plants in Indianapolis and Alabama, the company said this morning. Production had stopped Monday because of a dispute over warranty fees between Navistar and Ford Motor Co., which uses the engines in its heavy-duty pickup trucks. The dispute had idled […]
Evansville Regional Airport plans to ask US Airways Inc. to resume flights to Indianapolis six years after the Tempe, Ariz., carrier pulled back in the wake of the 2001 terrorist attacks. Airport Manager Nelson Bailes also hopes to persuade the airline to fly between Indianapolis and South Bend, according to the Evansville Courier & Press […]
Name-brand Indiana stocks were not immune to the down draft that swept through Wall Street today. Columbus diesel engine manufacturer Cummins Inc. fell nearly 4.7 percent to $136.15 a share. Indianapolis-based software developer Interactive Intelligence dropped 5.8 percent to $14.77. Other stocks were hit hard, too. Brightpoint, the Plainfield cell phone distributor, saw its shares […]
Centaur Inc. has been approved by the Indiana Horse Racing Commission to buy the 38-percent interest in Hoosier Park it doesn’t already own. The deal is expected to close in mid-March. Anderson’s Department of Parks & Recreation approved the sale Feb. 20. "We’ve been part of this project since day one and we’re proud to […]
AT&T Inc. said this morning that legislation passed last year allowing telephone companies to better compete with cable providers was a factor in its decision to create 425 jobs in Indiana rather than other states. The San Antonio company said it will add the jobs at its offices at 220 N. Meridian St. by 2009. […]
