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 […]
Indiana Public Employees’ Retirement Fund has launched a $50 million fund as it continues to diversify its $16.1 billion in assets into alternative investments. Investment Fund A increases the Indiana Investment Fund that PERF created last year to $155 million. In August, PERF decided to diversify 15 percent, from 5 percent, of its $16.1 billion […]
Evansville-based Berry Plastics Corp. will build a 600,000-square-foot warehouse and add 49 jobs in Evansville, Indiana Economic Development Corp. said today. The jobs will be in addition to the 1,200 already working at its headquarters and manufacturing operations in the southwest Indiana city. Berry announced March 12 that it had merged with Covalence Specialty Materials […]
AM General Corp., which makes the Humvee military vehicle and H2 consumer sport-utility vehicle, is adding 17,600 square feet to its cramped, 35,000-square-foot headquarters in South Bend. The additional training facilities and meeting rooms will make more space for working on projects, according to the South Bend Tribune. Few new jobs in addition to the […]
A company that services Honda Motor Co. plants is considering Greensburg and at least one other Indiana site for an expansion that would create 400 jobs, according to the Greensburg Daily News. Vicki Kellerman, who heads economic development in the city between Indianapolis and Cincinnati, said several states are competing for the company in one […]
Mann Properties’ request to develop 71 acres in Crown Hill Cemetery into residences and retail was denied this afternoon on a stinging 4-3 vote by the Metropolitan Development Commission. The decision cannot be appealed. Mann offered $5.23 million for the tract of woods and wetlands at the north end of the nation’s third-largest cemetery. Crown […]
Trustees of Ivy Tech Community College might choose a new president for the college at their meeting tomorrow, though it’s unclear whether controversy over their passing over Executive Vice President Carol D’Amico for the job will derail that timetable. The trustees are meeting in private session at 1 p.m. at the Conrad Indianapolis downtown to […]
The Metropolitan Development Commission is meeting at 1 p.m. to determine whether Indianapolis-based Mann Properties can buy 71 acres in Crown Hill Cemetery and develop the wooded tract into retail and residences. Crown Hill wants revenue from the sale to help maintain the historic cemetery, but some neighborhood groups oppose the project. The decision has […]
