California Public Employees’ Retirement System has sent letters to Eli Lilly and Co.’s 1,600 largest shareholders seeking support for a proxy resolution that would require only a majority vote by shareholders to amend its bylaws, Bloomberg reports. The Indianapolis drugmaker requires a supermajority of shareholders, which Calpers says restricts change and ultimately retards stock prices. […]
Veolia Water Indianapolis LLC and Poindexter Excavating Inc., both of Indianapolis, are among seven companies bidding to build a 4-mile water line from Greensburg to the Honda Motor Co. assembly plant under construction near the southeastern Indiana city. Veolia submitted the highest bid, nearly $1.7 million, and Poindexter offered the next-highest, $1.5 million, according to […]
Freedom Financial Holdings Inc. has filed with the Securities and Exchange Commission to take itself public, according to The Journal Gazette. Freedom Financing Holdings owns Freedom Financial Mortgage Corp. The company, which employs about 30 in Fort Wayne, expects to raise as much as $1.25 million by selling a maximum of 625,000 shares at $2 each.
VeraSun Energy Corp. has abandoned plans to build an ethanol plant in Kosciusko County in northern Indiana, according to the Goshen News. Opposition to the project had been fierce. County Commissioner Brad Jackson said the Brookings, S.D., company isn’t likely to announce the decision, but that a reliable source told him VeraSun won’t pursue the […]
BHC Marketing Inc. plans to create 20 jobs in Carmel in April by opening a Midwest regional office, Indiana Economic Development Corp. announced today. Based in the Houston suburb of The Woodlands, BHC is an independent national insurance marketing organization focusing on annuities and long-term care insurance. The company said it picked Indiana for the […]
Danny O’Malia, the former president of O’Malia’s Food Markets, has joined Trustpointe Inc. as vice president and chief customer service officer. The Indianapolis consulting firm focuses on sales and sales management skills. The family-owned grocery chain was bought in 2002 by its larger Indianapolis-based rival Marsh Supermarkets Inc.; Marsh in turn was acquired in October […]
Evansville Mayor Jonathan Weinzapfel has asked the Indiana Gaming Commission to investigate the owner of the Casino Aztar riverboat casino, Columbia Sussex Corp., because it plans to lay off more than the 20 positions eliminated earlier this year after its acquisition of Phoenix-based Aztar Corp. Weinzapfel said the Fort Mitchell, Ky., company told him it […]
Steve Schenck, who rose over a 34-year banking career to become Midwest regional president for Regions Financial Corp., will retire June 30, the Birmingham, Ala., bank announced today. Schenck, 58, stayed in the same fifth-floor office of One Indiana Square downtown through a string of acquisitions that included ownership under NBD, First Chicago NBD and […]
Cohesant Technologies Inc., the northwest-side company that replaces and services utility pipes, reported a $53,141 loss in its first quarter ended Feb. 28—its first red ink since 1997. Revenue fell 4.4 percent, to $6.2 million. Most of the setback was attributed to a 44-percent decline in pipeline-replacement revenue in its CIPAR subsidiary, said […]
Phase 1 clinical trials have been started at Indiana University and a site in Arizona of Semaphore Pharmaceuticals Inc.’s cancer tumor drug. The Indianapolis company has seen success in animal trials in an array of tumors. Semaphore’s P13K inhibitor targets the “master switch” that signals cancer cells to grow.
Wintry weather is blamed for sales of existing homes falling 16.4 percent, to 1,880, last month from the same month a year earlier, according to Metropolitan Indianapolis Board of Realtors. Only Boone, Brown and Madison counties saw increases. Marion County had the largest decline, 77.2 percent.
The European Medicines Agency has granted Eli Lilly and Co.’s enzastaurin drug “orphan” status—a decade of marketing exclusivity for drugs aimed at serious, rare illnesses. As a result, the Indianapolis drugmaker is ramping up a late-stage clinical trial of the oral agent, which is designed to limit relapses in patients with a type of non-Hodgkin’s […]
Thousands of downtown pedestrians gathered along Pennsylvania and Market streets, lined a nearby parking garage rooftop and stared through office windows about 10:30 a.m. today as a man threatened to jump from the top of the building on the northwest corner of Pennsylvania and Market. He was described by police officers as a man in […]
California state regulators have fined WellPoint Inc. unit Blue Cross of California $1 million for “routinely” canceling health insurance coverage for people who got pregnant or sick without determining whether the cancellations had merit, The Los Angeles Times reported today. Indiana-based WellPoint disputed the findings, the Times said. The article also said the California Department […]
Purdue University President Martin Jischke and his wife, Patty, have bought a condominium in West Lafayette as they anticipate his retiring June 30 after five years at the post. The Chicago-area native said he plans to retain his board appointments, including Evansville-based utility Vectren Corp., and devote time to favorite charities, particularly causes related to […]
Thomas J. Snyder, the former president of Anderson-based autoparts supplier Remy International Corp., will succeed Gerald Lamkin as president of Ivy Tech Community College. Snyder was chosen over the other finalist, Thomas D. Klincar, a commandant at Community College of the Air Force at Maxwell Air Force Base in Alabama. The process was marred over […]
A Nevada company said today it has chosen Pike County in southwestern Indiana as a location for an 50-million gallon ethanol plant and a 30-megawatt electric power generating facility. Ripatti Group, based in Reno, said heat and electricity created by the power plant would operate the ethanol plant, with the balance of the electricity to […]
Redcats USA will spend $21 million over several years to upgrade its clothing-catalog operation on Southeastern Avenue, the New York company and Indiana Economic Development Corp. said today. Forty-two jobs will be added to the 1,000 Redcats employs at the site and a warehouse in Plainfield. The improvements include computers, equipment and facilities. Redcats received […]
Indiana’s economy would shrink nearly 5.9 percent if a severe flu pandemic broke out, according to a report released today by Trust for America’s Health, a Washington, D.C., not-for-profit. That would be the 10th-worst impact among states, the organization projected. In dollars, the setback would amount to $14 billion. The report went on to say […]
The president of Terre Haute Economic Development Corp. wants to look deeper into Pfizer Inc.’s troubles with its new inhaled insulin before Vigo County officials complete their offer of $4.5 million in tax-increment finance incentives for the plant that makes the product. Steve Witt told the County Council it would be “good business” to learn […]
