Evansville-based Vectren Corp. reported first-quarter profit of $70.1 million, up nearly 22 percent from a year earlier. The improvement was partly attributed to increased residential and commercial usage due to colder-than-normal weather. Vectren’s utility companies serve customers in the Indianapolis area outside of Marion County and in other areas of Indiana and Ohio.
Profit for WellPoint Inc. increased 16 percent, to $783.1 million, from the same period a year earlier, the Indianapolis-based health insurer said today. CEO Larry Glasscock attributed the results to “outstanding” commercial enrollment growth of 586,000 additional national account members. This story will be updated.
A group led by Royal Bank of Scotland has made a $98.5 billion offer for ABN Amro, the Dutch parent of LaSalle Bank. The bid is higher than the $90 billion deal offered Monday by London-based Barclays Plc. A condition for the Edinburgh, Scotland, institution—along with bidding partners Santander Central Hispano SA and Fortis—is that […]
Shareholders of Biomet Inc. are scheduled to vote June 8 on the company’s $10.9 billion acquisition by several private equity firms. The special shareholder meeting will be in Chicago. Shareholders holding at least 75 percent of the company’s common stock must vote in favor of the merger for it to be approved. In December, Biomet […]
Fiat SpA’s announcement yesterday that it is considering buying an American truck manufacturer has caused stock in Illinois-based Navistar International Corp. to leap, according to Bloomberg. Shares of Navistar, which operates an engine foundry on the eastside, were up as much as 8.7 percent, to $57.85, in over-the-counter trading this morning. The stock increased 10 percent yesterday […]
Plasmatronics LLC said today it will locate a manufacturing plant and research center in the northwest Indiana city of Crown Point. The company, headquartered in Center Moriches, N.Y., will use the $2.1 million capital investment make an aftermarket ignition system for cars, trucks, motorcycles, and scientific and industrial uses. The project is expected to create […]
A new VIP section at The Lawn concert venue at White River State Park will add 200 seats to the existing capacity of 5,800, the park development commission announced today. The site, near Victory Field and the White River, also is getting a permanent stage that will allow groups to load shows in and out. […]
Consumers snapped up Toyota Motor Corp. vehicles in the first quarter to catapult the Japanese company past General Motors Corp. on a global basis for the first time. Toyota sold 2.35 million vehicles compared to 2.26 million for GM to become the world’s largest automaker in the period, according to Market Watch. Among the Toyotas […]
Edward J. Bonach has been tapped to replace Conseco Inc. Chief Financial Officer Eugene M. Bullis, who is retiring after seeing the Carmel insurer through its bankruptcy reorganization. Bonach was executive vice president and CFO of National Life Group, headquartered in Montpelier, Vt. Prior to National Life, Bonach spent 23 years at Allianz Life of […]
A buy recommendation from CNBC “Mad Money” host Jim Cramer caused Cummins Inc. stock to shoot up $7.89 per share today. The 10 percent run-up is the largest increase in one day the Columbus diesel engine maker experienced in almost four years, according to Bloomberg. His recommendation came during a show broadcast April 20. When […]
Summer travel could become pricey if Americans don’t lose their appetite for gasoline. Demand is rising at twice the rate of a year ago, according to Bloomberg. Meanwhile, refinery fires, maintenance and electrical failures have reduced inventories to the lowest point in two decades, based on days of demand in reserve. The upshot is that […]
Development plans could be in the works for another large piece of land along Michigan Road. The 18-acre North Park Masonic Lodge property at 5555 Michigan Road is under contract. Read more.
Businesses, including Indianapolis-based Eli Lilly and Co., have poured $1.7 million into coffers of chairmen of U.S. House of Representative committees since the start of the year. That’s nearly twice as much as corporations gave when Republicans controlled the House during the same stretch of 2005, according to Bloomberg. Interests including pharmaceutical makers, like Lilly, […]
Bank of America likely will boost small-business lending in the Indianapolis area if it follows through on its $16 billion acquisition of LaSalle Bank, banking observers say. However, they believe it would delay building a retail branch network until it could buy another bank with an established branch presence, local experts say. Jim Young, CEO […]
A big Emmis Communications Corp. investor suggested in a regulatory filing today that the Indianapolis company should sell trophy radio properties to unlock value for shareholders. Elkhart-based Martin Capital Management responded to growing rumors on Wall Street that Emmis is considering selling New York City’s WQCD-FM 101.9, an underperforming smooth jazz station. CL King & […]
Community Health Network and Regenstrief Center for Healthcare Engineering at Purdue University announced this morning a $1.5 million strategic partnership to identify research opportunities for improving health care delivery. Details will be announced at 1:30 p.m. today at a conference on Purdue’s West Lafayette campus. Indianapolis-based Community employs more than 10,000 people at its five […]
The planned acquisition of LaSalle Bank by Bank of America announced this morning would likely mean an expansion of small-business lending in Indianapolis, said a banker who competes in the market. Jim Young, president and CEO of Indiana Business Bank, said Bank of America would build on the foothold established in Indianapolis by Chicago-based LaSalle. […]
Genesco Inc., the Nashville, Tenn., parent of Indianapolis-based Hat World, has rejected the $1.2 billion buyout offer extended by Foot Locker Inc. on Friday. Genesco directors voted unanimously that the bid of $46 per share from the New York shoe retailer “is not in the best interests of the company’s shareholders,” the company announced this […]
Hhgregg Inc. has committed to negotiating a contract with Zimmerman Advertising of Fort Lauderdale, Fla., to take over one of Indiana’s largest advertising accounts, the Indianapolis company said today. The agency that handled the account for 24 years, Pearson McMahon Fletcher England in Indianapolis, decided earlier this year to not pursue the contract. Gregg said […]
LaSalle Bank, which has offices downtown and in Carmel, will be spun off by its Dutch Parent, ABN Amro, to Charlotte, N.C.-based Bank of America for $21 billion as part of a larger deal considered to be the world’s biggest financial-services takeover. ABN Amro this morning said it would back a $91 billion acquisition offer […]
