Dismal February job numbers widely reported across the state several days ago distort what actually happened, according to Morton Marcus, director emeritus of the Indiana Business Research Center at Indiana University. Rather than having 7,400 fewer jobs than in January—the worst performance behind only Ohio—employment actually increased. The rub comes in how government statisticians adjusted […]
Minority-owned companies have snagged 22 percent of the $749.1 million in contracts committed through 2006 for the midfield terminal project at Indianapolis International Airport, the airport authority said today. Minority companies received $167.5 million of the $749.1 million. Slightly more than half of the 189 minority companies that received the contracts are owned by women. […]
Eli Lilly and Co. was among 40 companies cited in a study by Clarity! Communications of Canada Inc. for describing executive pay in prose that’s all but indecipherable to the common person. As a result, the companies in the study violated new securities rules that prevent companies from using jargon to report how top executives […]
Bonuses for WellPoint Inc.’s 42,000 employees now hinge at least in part on whether the company’s customers actually get healthier. The Indianapolis-based health benefits company announced this morning that it has linked every worker’s compensation to how well its patients do in 20 clinical areas. WellPoint claims it is the first company to launch such […]
CTI Group Inc. lost $1.1 million last year as customers cut back on the data processing services it offers, and because the company received less revenue from enforcing its patents. The loss compared to a $523,134 profit in 2005. The downtown company, which also sells telecommunications software, said revenue declined to $12.8 million from $15.3 […]
Dura Automotive Systems Inc. of Rochester Hills, Mich., said today that its Brownstown plant is among four it plans to close to improve efficiency. The Brownstown site, which employs 114 workers manufacturing spare tire carriers, winches and toolkits, is in southern Indiana, an hour’s drive from Bloomington. Other Dura plants slated for closing are in […]
An investigation into stock-option backdating at Biomet Inc. resulted in two executives retiring March 30. The executives are Gregory D. Hartman, senior vice president of finance and chief financial officer and treasurer, and Daniel P. Hann, executive vice president of administration and a director. In an investigation delving into the options granted between 1996 and […]
Two United Auto Workers locals that once represented upward of 20,000 General Motors workers in Anderson no longer are needed, and will merge into the UAW local that represents Anderson municipal workers and Madison County workers. Local 662, which in the 1960s boasted nearly 15,000 members at what became GM’s Delphi Corp. division, will be […]
Ivy Tech Community College and the Indianapolis Private Industry Council have started an Advanced Manufacturing Institute at Ivy Tech’s downtown campus to train manufacturing workers. The institute will work with trade groups specializing in welding, metalworking, ventilation and fluid power to train and retrain workers for the 2,300-plus manufacturing positions Ivy Tech and the council […]
Lots of people are taking the week off for spring break, but plenty of people are still toiling away at their jobs, local employers say. At F.C. Tucker Co.’s corporate office on the far northside, 20 to 25 percent of workers are out this week, said Stan Phariss, vice president of human relations for the […]
Tribune Co., the Chicago media company that owns Indianapolis Fox affiliate WXIN-TV Channel 59 and the local CW network affiliate, WTTV-TV Channel 4, said it has accepted an $8.2 billion acquisition offer from cross-town real estate magnate Sam Zell. The Chicago Tribune and Los Angeles Times are Tribune’s flagship properties. Zell said he would put Tribune’s […]
A contract approved by a majority of 270 union members at the TRW Commercial Steering Systems plant in Lafayette on Saturday stipulates no raises in its first three years, followed by 1-percent and 1.25-percent raises in the two remaining years. United Auto Workers Local 531 President Ron Dubree Jr. called the contract “concessionary,” according to […]
Members of the Northwest Indiana Forum, an economic development group, have held several closed-door meetings with members of the General Assembly to try to stir interest in proceeding with the project, according to the Post-Tribune of Merrillville. Gov. Mitch Daniels said late last month public opposition ran so high that he would drop the idea […]
Human error is being blamed for a $3.6 million shortfall in tax-increment finances in Greensburg, the southeastern Indiana city where Honda Motor Co. is building a $550 million plant to assemble its Civic compact car. The Tax Increment Financing Board based its anticipated revenue on current assessed value of property in a TIF district where […]
A Kalamazoo, Mich., company has won a battle in the Indiana Court of Appeals in Indianapolis to locate a solid waste transfer station and recycling facility near 86th Street and Zionsville Road. Judge Margret Robb sided with 600 Land Inc. in its attempt to gain zoning approval for the northwest-side project. The company needed a […]
American Super Heroes Museum, which will feature Superman costumes and artifacts from movies and television episodes featuring Superman and Batman, will open at 20 W. Louisiana St. on Saturday. The museum features a collection of memorabilia by Fishers resident Dane Nash. Hours are 10 a.m. to 9 p.m. Monday through Saturday, and 10 a.m. to […]
Kenneth L. Gladish is moving on. Once a central figure in Indianapolis’ charitable sector, he has been hired as director of The Grantmaking School at Grand Valley State University’s Dorothy A. Johnson Center for Philanthropy and Nonprofit Leadership, the school announced today. Last year, Gladish accepted an appointment as a visiting scholar at Indiana University’s […]
Nashville, the Brown County community that depends heavily on tourism for its economic vitality, has seen restaurant sales fall for two years after having posted 19 years of gradual growth, according to the Brown County Democrat, citing data from the 1 percent food and beverage tax. Restaurant, hotel and shop owners blame the reversal on […]
A Parkinson’s disease medication originally developed and sold by Eli Lilly and Co. has been voluntarily pulled from the U.S. market after the Food and Drug Administration reviewed new information that associates it with heart problems. Pergolide, which Lilly sold under the Permax brand, has been licensed to the Aliso Viejo, Calif., drugmaker Valeant Pharmaceuticals […]
The Alliance Steering Committee, a loose organization of neighbors of Crown Hill Cemetery that opposed redeveloping a section of the historic property, is meeting this afternoon with nature groups that are interested in buying the parcel. One alliance leader, Butler University biology professor Tom Dolan said at least eight entities are showing interest in the […]
