Truck makers might slow production and lay off employees this year if trucking companies lift the throttle on purchases, as many experts anticipate. Trucking firms scrambled to stock up on tractors before Jan. 1 this year to avoid paying the extra $9,000 or more associated with cleaner-burning diesel engines mandated by environmental regulations. International Truck […]
A strategic plan written for the Northwest Indiana Regional Development Authority to redevelop the area would cost $4.1 billion if its board and state officials approve, according to The Times of Munster. The plan, to be unveiled Tuesday, calls for condos along Lake Michigan, new commuter rail service, more bus transportation and an airport that […]
The building committee of the Indianapolis-Marion County Public has voted unanimously to move its branch out of Glendale Mall—a potential blow to Kite Realty Group’s attempt to redevelop the site into an open-air mall. The library announced this afternoon that the new configuration wouldn’t be conducive to patron access and would make moving materials more […]
IMMI, a Westfield company that makes buckles, harnesses and other components for child car seats, said none of the seats using its parts failed a recent test by Consumer Reports. The not-for-profit watchdog group said this week that it could recommend only two of 12 infant seats it tested. Infant seats face to the rear […]
ATA Airlines said today it is filling more seats on its aircraft. The Indianapolis-based carrier said its scheduled service passenger load factor increased 3.3 points, to 79.1 percent, compared with December 2005. Scheduled service traffic was down 15.4 percent and total passengers fell 32 percent, to 217,029, in December. But comparisons are difficult because ATA […]
Harris has closed its $290 million acquisition of First National Bank & Trust, the Kokomo bank owned by the Hasten family of Indianapolis, the Chicago institution announced today. Harris is the U.S. arm of Bank of Montreal in Canada. It said in September it bought First National as part of a strategy to expand personal […]
A confined feeding operation specializing in calves up to 90 days old has been approved 4-1 by the Jasper County Board. Wolf Creek Calf Co. agreed to dust and odor controls before being allowed to proceed with plans to inventory as many as 10,000 head on the property at a given time, according to the […]
Semafore Pharmaceuticals Inc. has raised $9.5 million in equity partly to finance Phase I clinical tests of its cancer treatment. The start-up Indianapolis drug developer said both existing and new investors were involved in the infusion, and that the funding would be paired with $4 million received last year from the state’s 21st Century Research […]
Eli Lilly and Co. said this morning that it has licensed rights to the diabetes and obesity subsidiary of Melville, N.Y.-based OSI Pharmaceuticals Inc. for $25 million plus as much as $360 million in addition payments, depending on the success of any compounds developed through the arrangement. The subsidiary, Prosidion Limited, is in the United […]
A slowdown in house construction has prompted United Technologies Electronic Controls to lay off 112 workers at its Huntington plant, where it makes components for heating and air-conditioning units. The layoffs, effective Jan. 1, were mostly voluntary. But International Brotherhood of Electrical Workers Local 983 President Tyler Brown told The Journal Gazette of Fort Wayne […]
Health insurance was unexpectedly canceled Dec. 1 for about 100 retired workers of Steel Parts Corp. in Kokomo, complains Scott Sigler, vice president of Local 3875 of the United Steelworkers Union. A union lawyer said the Cleveland turnaround firm that bought Steel Parts out of bankruptcy the same day, Resilience Capital Partners, canceled the policy. […]
OFS Brands, a family owned manufacturer of desks, bookcases and other case goods in Huntingburg, has bought Carolina Business Furniture of Archdale, N.C., for an undisclosed price. The purchase will speed an expansion by the southern Indiana company into health care, according to the Evansville Courier & Press. OFS also operates as Styline Industries.
Former Bloomington mayor John Fernandez has joined First Capital Group, a Bloomington firm that invests in new business ventures, as partner and senior vice president. Fernandez served from 1996 to 2003, and lost the 2002 race for Indiana Secretary of State to Republican Todd Rokita. Fernandez most recently advised on real estate deals at the […]
Neighbors of a proposed subdivision in northwestern Johnson County complained so fiercely that developer Paul Shoopman now plans to meet zoning requirements precisely—and take the project downscale. Shoopman’s Indiana Land Development Corp. is stripping parks and walking trails as well as businesses, apartments and town homes, according to the Daily Journal of Franklin. House density will […]
Indianapolis-based F.S. English Inc., which operates three buy-here/pay-here auto dealerships in the area, has been bought by Dallas-based Manchester Inc. for $8 million. The deal includes GNAC Inc., the company’s auto lending unit. F.S. English’s owner, Rick Stanley, will continue as CEO of the dealerships.
The pace of pended sales of existing homes in the United Statesfell 0.5 percent in November from the month before, reports the National Association of Realtors. It was the third consecutive monthly decline. Overall, pended home sales are down 11.4 percent from a year ago.
Eli Lilly and Co. has agreed to settle most of the remaining liability claims against its Zyprexa schizophrenia drug, the Indianapolis drug maker announced this morning. The agreement covers about 18,000 people. Lilly did not disclose the cost of the settlement, but said the total amount is “substantially less” than the $700 million it […]
A.M. General Corp., the South Bend manufacturer of Humvee military vehicles and Hummer consumer sport-utility vehicles, has formed a joint venture with General Dynamics Land Systems to compete to build a next-generation vehicle for the U.S. Army and Marines Corps. The joint venture, called General Tactical Vehicles, will be headquartered in the Detroit area, and […]
Martinsville’s Common Council has unanimously denied a request from Lowe’s Companies Inc. to abate $423,000 of $722,000 in potential taxes on real estate improvements. Council members said subsidizing the home-improvement chain would be unfair to existing businesses. The Mooresville, N.C., company wants to locate a store near an existing Wal-Mart on Grand Boulevard, according to […]
Eli Lilly and Co.’s loss in May of a patent-infringement lawsuit brought by Ariad Pharmaceuticals
Inc. went down as the 6th-largest such jury award last year, a Bloomberg analysis shows.
