Local credit unions largely avoided putting toxic assets on their own balance sheets. Even so, they’re going to have
to pay millions of dollars to clean up their industry’s books.
Eli Lilly and Co. has reorganized its venture capital division and simultaneously poured in an additional $25 million.
Midland, Mich.-based Dow Chemical Co. is still considering divesting Indianapolis subsidiary Dow AgroSciences LLC. But
chances that the chemical manufacturing giant will sell its local agricultural chemical and biotech unit appear to have decreased.
Gov. Mitch Daniels expected his unprecedented $3.8 billion Indiana Toll Road lease to last 75 years. It may be tested after
just three.
Midland, Mich.-based Dow Chemical Co. is still considering divesting Indianapolis subsidiary Dow AgroSciences LLC. But chances
that the chemical manufacturing giant will sell its local agricultural chemical and biotech unit have decreased.
Regulators have told Irwin Union Bank FSB that it must boost its capital by the end of next month or face the possible
suspension of its business.
Regulators have told Irwin Union Bank FSB that it must boost its capital by the end of next month or face the possible suspension of its business. The bank is the thrift subsidiary of Columbus, Ind.-based Irwin Financial Corp., which has been struggling for more than a year. The order to boost capital from the […]
Dow AgroSciences has signed a 15-year lease that will spur construction of an 80,000-square-foot research-and-development building, to be erected adjacent to its headquarters in northwest Indianapolis. As a result, the company plans to hire dozens of additional researchers. Dow AgroSciences’ new two-story building will be developed and owned by Indianapolis-based Browning Investments Inc., which also […]
For four decades, Jim Ashby worked as a manufacturing floor manager, first for General Motors Corp., then, after a buyout,
for an Ingersoll Rand subsidiary. He likes to relax and fish, but Ashby considers himself too energetic for retirement. He’s
now 67 years old. And a first-time entrepreneur.
Local businessman J.B. Carlson contends the $15 million life insurance policy he took out on Stephen Hilbert’s mother-in-law
was legitimate, because she served on his firm’s board and was a key decision-maker. The mother-in-law, Germaine
“Suzy” Tomlinson, died at age 74 last September—just 32 months after the policy was issued.
In a saturated gambling market, Indiana casinos increasingly rely on expanded entertainment options to
attract patrons. The upshot is that an industry once considered “recession-proof” is asking
the General Assembly for lower taxes and hopes to eliminate expensive regulatory requirements like maintaining engines
and crews.
Indiana’s struggling gambling industry didn’t get the relief it sought during the special session of the Indiana General Assembly. But embedded within the budget bill approved June 30 is a provision creating a gambling summer study committee. Its recommendations, due by Dec. 1, may make or break several of Indiana’s casinos.
In this deep recession, many local small-business owners suffer a harsh dilemma: Heavily tied to a single supplier,
customer or industry, they must diversify or die.
For decades, Indianapolis-based Indiana Supply Corp. successfully distributed Trane brand furnaces and air conditioners across Indiana. At its peak, the company had $40 million in annual sales, 105 employees and three warehouses. Then, out of the blue in October 2006, a letter arrived from Trane’s corporate headquarters in New Jersey. In 60 days, it warned, […]
Cummins Inc. is battling its insurers in court, saying they’re refusing to pay
most of the company’s $381 million in claims stemming from the flood that immersed its southern Indiana
facilities a year ago.
For investors, 2008 was the worst year since the Great Depression. Even so, more than half of the state’s public-company executives
saw the value of their pay packages rise from 2007—despite the fact that only 10 of the companies posted a positive total
return in 2008, and 46 companies shed more than one-third of their stock market value.
With the help of outside economists, Indiana government undergoes an economic forecast every other yearâ??a process that’s taken on increased importance this spring, as Gov. Mitch Daniels and the Legislature attempt to craft a two-year budget amid the deepest recession since the early 1980s.
Heard the joke about the three economists who went hunting together? When they saw a deer, the first fired his shotgun and missed a foot to the left, while the second aimed and missed a foot to the right. The third economist didn’t shoot. Instead, he shouted in triumph, “We got it!” With the help […]
With sales slowed to a crawl, some entrepreneurs must take second jobs working for others to make ends meet.
Optometrist Jeremy Ciano mortgaged his house and invested his life savings to establish Revolution Eyes, a vision studio in Carmel’s Clay Terrace. Although the recession has taken a heavy toll on his small business, Ciano promised his eight employees their jobs are secure. That’s why he’s moonlighting. “This year the goal is pretty modest, unfortunately. […]
