Conseco Inc.’s loss widened to $64.5 million in its second quarter-the fruit of pouring more money into its hemorrhaging long-term care reserves and into a class-action lawsuit settlement over life insurance policies. The Carmel-based life and health insurer lost 38 cents per diluted common share, compared with a 21-cent per share loss in the second […]
eTapestry, which makes software available to not-for-profit groups from its offices at Mount Comfort Airport in Hancock County, has been acquired by Blackbaud Inc., a Charleston, S.C., company that also specializes in software for nonprofits. The price of $24.8 million could increase as much as $1.5 million under a stock-based incentive. eTapestry stores fundraising information […]
Dealer Services Corp. is an example of what happens when an entrepreneur sells his company to a bigger one and then comes
back to haunt it after he is tossed aside. In this case, the spurned entrepreneur, John Fuller, became a thorn to Adesa Inc.
a few years after its CEO sent him packing in late 2001.
The high-stakes competition for control of Indiana Downs has entered the homestretch. And South Bend-based Oliver Racing LLC
is poised to win.
To make money on new software, sometimes you have to give it away. Thanks to that counterintuitive approach, tiny local IT startup Vyante Inc. has persuaded companies like Eli Lilly and Co., Roche Diagnostics, Dow Agro-Sciences and 5MetaCom to test the beta version of its new software, which tracks and measures the impact of their brands online. Vyante hopes eventually to convert the companies into paying customers. “We’ve persisted against the odds,” said Vyante Senior Technologist Benjamin Ranck. “It was…
Beleaguered mortgage lender American Home Mortgage Investment Corp. said last night it will close most of its operations-bad news for Fort Wayne, where the Melville, N.Y., company employs 155. In a statement, American Home Mortgage said it would shrink its workforce to 750 from 7,000 today because there is “no realistic alternative.” The Fort Wayne […]
Indiana University and ChaCha Inc., the human-assisted Internet search engine based in Carmel, said this afternoon that IU will make its librarians and information technology staff available to ChaCha users. The IU experts will help ChaCha users sift through unwanted material in order to focus on the information users want. Users will be linked by […]
ChaCha Inc., the human-assisted Internet search engine based in Carmel, this afternoon is expected to announce a research-and-development alliance with Indiana University. ChaCha founder Scott Jones will join IU Vice President for Information Technology Brad Wheeler for a news conference at IUPUI. Founded last year, ChaCha quickly raised $6 million from investors, including Amazon.com founder […]
So many mortgage opportunities are available over the Internet that the unfolding woes of a single lender, American Home Mortgage Investment Corp., have caused relatively few problems in the Indianapolis area, real estate professionals say. Some buyers have been unable to close home purchases through the Melville, N.Y., giant, but the numbers appear to be […]
Carmel-based Sagamore Health Network will keep its name even thought it has been acquired by Cigna Corp. The Philadelphia-based health insurer said its acquisition of Sagamore, Indiana’s third-largest managed care organization, will make it much more competitive in the state. In Indiana, Anthem Insurance Co. dominates the health insurance market. “It also adds significantly to […]
Cigna Corp.’s purchase of Sagamore Health Network should make it a more formidable competitor to Indianapolis-based Anthem Insurance Co. in the central Indiana health insurance market. And that could be a good thing for employers. That’s the initial reaction of one local health care expert after Philadelphia-based Cigna announced this morning it is acquiring Carmel-based […]
Cigna Corp. has bought Sagamore Health Network Inc, the CEO of the Philadelphia managed-care giant said this morning during a conference call with analysts. Carmel-based Sagamore is the second-largest managed care organization in the state, with 725,000 members enrolled as of January 2006, according to IBJ‘s Book of Lists. It was mostly owned by affiliates […]
A California-based chain that sells videogames and gaming equipment has plans for at least two stores in central Indiana. Play N Trade has filed plans for stores in Carmel and Indianapolis….
Huntington Bancshares Inc. entered the Indianapolis market in 1986 and since has led a relatively unassuming existence, barely cracking the top 10 in local deposit amounts and operating just a few dozen branches. So, the Columbus, Ohio-based bank is entering uncharted territory following its $3.6 billion acquisition of fellow Buckeye bank Sky Financial Group Inc. in Bowling Green. Huntington completed its purchase of Sky on July 2, making it the 24th-largest domestic bank in the United States in terms of…
STARTUP ADVANCED IMAGING HEALTHCARE SOLUTIONS INC. Ultrasound technology hits the road Type of business: mobile medical imaging Location: 75 Executive Drive, Suite A, Carmel Phone: 663-3289 E-mail: [email protected] Web site: www.aisolutions.info Founded: November 2006 Owners: Greg and Janet McCauley, Beau and Jennifer White Owners’ backgrounds: Jennifer White, 27, graduated from Indiana University’s dental school in 2001; her husband, Beau, 30, graduated from Purdue University in 2000, then worked in sales in the medical field. The McCauleys have been in sales…
Students at three new Indiana high schools this fall are going to learn the California way. No, they won’t be holding classes on the beach. They’ll use technology and a project-oriented curriculum to learn about math, science and history, plus gain 21st century skills business leaders say today’s work force needs. The New Technology High School model, which began in Napa Valley, Calif., in 1996, will launch in Indiana this fall with New Tech High at Arsenal Tech, New Tech…
ITT Educational Services Inc. reported second-quarter profit of $35.9 million, up 49 percent from the year-ago period. Revenue in the three months ended June 30 increased 16.9 percent, to $217 million. New student enrollment rose 11 percent, to 48,873. Carmel-based ITT attributed the quarter’s gains to improved student retention and strong controls on operating costs.
A startup firm using Indiana University medical research to treat a fatal lung disease is raising money for clinical trials and has recruited a prominent life sciences veteran to lead the effort. Michael Klemsz, an associate professor at the IU School of Medicine, and Dr. David Wilkes, director of the school’s Center for Immunobiology, founded Immune Works LLC in January 2006 along with Ronald Meeusen. Meeusen, a former Dow-AgroSciences researcher and BioCrossroads executive, served as a part-time president and CEO…
The Arts Council of Indianapolis and the Indianapolis Cultural Development Commission recently launched a campaign to encourage individuals and businesses to buy art from local artists. I couldn’t agree more with the message. In addition to the “Be Indypendent, Buy Indy Art” stickers you’ll no doubt see all over town soon, the campaign includes a Web site, www.beindypendent.org, with a downloadable “how to” guide, plus links to the Arts Council’s artist database that includes the work of more than 400…
Fort Wayne-based Tower Financial Corp. said today that second-quarter profit tumbled to $217,000 from $912,000 a year earlier because of costs to build loan loss reserves and a decision to retreat from plans to start a bank in the Indianapolis area. Tower announced in October that it would enter the Indianapolis market by opening a […]
