Shares of Brightpoint Inc. rose 10 percent this morning, the first trading since the company late yesterday announced a sharp drop in first-quarter profit. The increase suggests that despite the weak results, many investors believe long-term prospects for the Plainfield-based distributor of wireless phones are strong. Brightpoint reported that profit fell 78 percent, to $1.9 […]
With gas over $3 a gallon, it pays to shop around for the best price. Verizon Wireless and other companies offer ways to check gas prices locally over the Internet. Verizon’s service offers prices and a map showing how to get to the gas stations. Regular unleaded costs $3.13 a gallon in Indianapolis, according to […]
The Paris-based utility that operates Indianapolis’ wastewater plants, Suez Environmental, is holding a tiny conference at IUPUI from Thursday through Saturday to discuss internal strategy for the next few years. Suez, which runs the local plants through its United Water Services subsidiary, will host about 15 people from its local operations as well as sites […]
Eli Lilly and Co. said today that it has become the second corporation, after IBM, to make public a policy forbidding using employees’ genetic information to discriminate in employment choices or eligibility for benefits. The Indianapolis pharmaceutical maker said employees are more likely to take part in individual healthcare programs if they’re assured information from […]
Lake Michigan will suffer from the expansion of the BP refinery at Whiting, environmentalists fear. The $3 billion project won’t increase wastewater capacity enough to stop more sludge and ammonia from being released into the lake, according to the Post-Tribune of Merrillville. Its wastewater permit requests being allowed to dump 50 percent more ammonia and […]
Central Indiana’s non-residential construction industry is growing faster than the nation’s. That’s one of several observations to be found in three sector-specific reports the Indiana Private Industry Council Inc. will release at a summit Wednesday at the Westin Hotel downtown. The “e3 summit” also will host panels of experts in each field to talk about […]
A 250-guest room, $45 million expansion of the Belterra Casino in southeastern Indiana has been postponed indefinitely by parent Pinnacle Entertainment Inc., the Las Vegas company said today. The move was driven by legislation passed in the General Assembly authorizing 2,000 slot machines at Hoosier Park in Anderson and Indiana Downs in Shelbyville, both of […]
Profit for Kimball International Inc. plummeted 47 percent, to $3.8 million, in its third fiscal quarter, the Jasper furniture and electronics maker reported yesterday. Kimball blamed the setback in the period ended March 31 on discounting office furniture prices, selling more lower-margin products and higher manufacturing costs. Electronics margins narrowed due a short in the […]
The Corporate Library has named Eli Lilly and Co. among a dozen large companies that have the most pronounced gap between stock performance and compensation of CEOs. Lilly chief executive Sidney Taurel was paid a total of $27.4 million in the past two years, but the five-year return on Lilly stock was a negative 24.6 […]
The state’s economic development performance received a “C” grade for the seventh year in a row in a report issued this week by the Indiana Chamber of Commerce. That’s an improvement from the “C-” of last year, but the state has ping-ponged between a “C” and “C-” in every year studied but 2000, when it […]
Joe Hale, who retired nearly a year ago from Cincinnati-based Cinergy Corp. as chief communications officer and president of Cinergy Foundation, is opening a Carmel office of the Chicago headhunting firm DHR International. Hale, 56, said he didn’t want to move to Charlotte, N.C., with Duke Energy Corp.’s acquisition of the utility and didn’t want […]
A surge of new products could drive Cummins Inc. sales to $20 billion by 2012, CEO Tim Solso told The Republic, a newspaper in the southern Indiana city. That would be about twice the $11 billion the diesel engine maker reported for 2006. Much of the increase would come from light-duty diesels the company is […]
Purdue University trustees voted unanimously to choose France Cordova as the next president, the university announced this afternoon. Cordova, chancellor of the University of California Riverside, will replace Martin Jischke after he retires June 30. Today’s decision ends a seven-month search. In a statement, Chairman Tim McGinley said Cordova’s resume was “truly out of this […]
Hours before this afternoon’s anticipated announcement that she will be named Purdue University president, France Cordova toured the West Lafayette campus this morning meeting faculty and students, according to the Journal & Courier of Lafayette. Neither Cordova nor Purdue trustees would confirm her appointment prior to the trustees’ 2 p.m. meeting, where they are expected […]
Indianapolis-based IT disaster recovery firm n/Frame said today that profit rose 21 percent in the first quarter from the same period a year earlier. Actual dollar figures for profit or revenue were not disclosed. But n/Frame Chief Operating Officer Robert J. Alcorn said his firm expects to exceed the 21-percent growth rate in 2007. n/Frame […]
Indiana exporters have more good times to look forward to if the value of the dollar continues to decline. The dollar is at $1.368 against the Euro-a record low, according to Bloomberg. And at least two economists-Jay Bryson of Wachovia Corp. and Kenneth Rogoff, a former International Monetary Fund chief economist-say it’s likely to shrink […]
WellPoint Inc. CEO Larry C. Glasscock plans to sell about $13.5 million in stock holdings over the next 10 months, the company announced late Friday. The plan to diversify his holdings comes less than a month before Glasscock will resign his CEO post and hand the reins of the Indianapolis-based health insurer to Angela F. Braly. […]
Darden Restaurants is closing seven restaurants in Indiana-including the Smokey Bones Barbeque and Grill locations in downtown Indianapolis, Avon and Bloomington, plus the recently opened Rocky River Grillhouse in Castleton. Other Indiana restaurants slated for closing are in Mishawaka, Merrillville and Evansville, the Orlando, Fla., company said Saturday. The company is closing 54 Smokey Bones […]
Toyota Industries Corp., a Japanese forklift manufacturer, has started a new unit, Indiana Hydraulic Equipment Corp., to make hydraulic valves and will build its first plant in Franklin. The $12 million, 58,000-square-foot facility will open in June 2008 and ramp up to employ 35, Toyota Industries announced today. The new unit will be advised by […]
