Eli Lilly and Co. has written a $6.5 billion IOU to acquire the cancer drugs of ImClone Systems Inc. Cancer drugs are now
the best-selling class of drugs in the world and one of the fastest growing.
Rising unemployment rates are making it harder for more states, including Indiana, to pay jobless benefits, according to Stateline.org. The non-partisan organization, which reports on trends in state policy, says unemployment insurance trust funds are in danger of insolvency in California, Michigan, Missouri, New York, Ohio, South Carolina and Wisconsin. It cites a study by […]
An Alexander Calder mobile hangs above. Bronzes by Henry Moore and William de Kooning stand handsomely on the ground. The walls feature works on paper by Picasso, Pollock, Rembrandt, Miro and more. Ball State University Museum of Art’s collection is well worth lingering over. But I’m doing a lightening round because the museum is closing at 4:30 and I’ve spend the better part of the afternoon immersed in another Ball State Museum of Art. The one online. In Second Life….
When Arcadia Resources Inc. moved from Southfield, Mich., to Indianapolis last fall, the Indiana Economic Development Corp. crowed with pride. In exchange for incentives worth more than $6 million, the state had landed the headquarters of a publicly traded life sciences firm with more than 5,000 employees. Even better, the company was ready to launch an innovative new product that promises to improve home health care while simultaneously reducing its cost. A year has passed, but investors still aren’t as…
Large Wall Street firms with a taste for bad debt aren’t the only institutions weathering a financial storm these days. In a classic case of trickle-down bad news, small businesses are suffering as well. But instead of facing a maelstrom, firms seeking expansion funds and entrepreneurs looking for startup cash are enduring a drought. Access to capital has dried up as spooked banks relentlessly tighten their loan requirements. That translates into greater scrutiny of business plans, bigger demands for collateral…
Former insiders of One Call Communications appear to be targets of a Justice Department criminal inquiry, according to a filing by the defunct company’s court-appointed receiver. Pittsburgh-based Meridian Group said it was served a subpoena Sept. 19 from the U.S. Attorney for the Western District of Pennsylvania to testify before a grand jury on Oct. 21 on matters involving One Call.
If you have continuously donated money and time to specific organizations, or if you want to save some money on taxes, or maybe a little of both, planned giving might be a way to continue both of those aims. However, there are a few things to consider, such as how to set up the planned giving, what the money can or can’t be used for, who can speak for your interests after you die, and obviously how much money will…
When a littleknown corner of the financial world hit a wall in February, auction-rate securities became an investor’s worst nightmare. Auction-rate securities are long-term corporate or municipal bonds with interest rates that reset at periodic auctions. For years, the market for auction-rate securi ties operated smoothly. From 1984 through 2006, only 13 auction failures were recorded. Then, in February 2008, in the midst of a credit crunch, demand for auction-rate securities dried up, causing auctions to fail. Wall Street investment…
The Anderson money manager known as “Big Joe” got his start as an independent insurance agent in Lafayette. He had been on the job just two weeks before Black Monday struck Wall Street in October 1987. The market shed more than 22 percent of its value, the largest one-day decline in U.S. history. With no clients and no money, the 20-year-old temporarily left the insurance industry and landed a job at AT&T’s old Western Electric division, helping rewire Ball State…
Singers of a certain age often coast on nostalgia. The primary pleasure of attending one of their concerts isn’t so much the sound of their voice or the wit of their banter. It’s being able to say you saw them….
Paul Shoopman could have sat on the sidelines savoring the fact that he sold his homebuilding firm in 2004, just months before the market began a calamitous slide. But that’s not Shoopman, who’d been building houses since 1971, the year he graduated from high school. His dad loaned him the money for his first lot, and co-signed for the construction loan. Shoopman built Dura Builders Inc. into Indianapolis’ fifth-largest homebuilder before selling it to Los Angeles-based KB Home. A little…
WellPoint Inc. touts as the company’s biggest strength its dominant market share in its health insurance markets. But now
the officers of the company are working to branch out beyond health insurance. They’re training their sales force
on how to better sell dental, vision and even life and disability insurance–which WellPoint refers to as its specialty group
of products.
Mike’s Express Carwash makes money the old-fashioned way. The second-generation family affair, now celebrating its 60th
year, has invested its reserves in steady expansion, becoming a model for the $23.4 billion industry in
the process. And its owners still sweat the small stuff.
Moving coordinating company Relocation Strategies Inc. is used to dealing with companies in transition. Now the firm is undergoing one of its own-albeit of a different sort. Relocation Strategies founder David Bayse is relinquishing ownership to partner Melissa Lamb Brown in a purchase agreement set to be completed within the next four years. She already owns a majority of the business and will acquire the rest in stages. In the meantime, Bayse, 57, will continue to guide Brown, 39, who…
In recent days, as some of Wall Street’s most storied institutions teetered, the mood at Indiana’s largest and oldest investment firm was almost serene. City Securities Corp. managers tracked news tickers and consulted CEO Mike Bosway, who was on vacation in Ireland, via his BlackBerry. But their biggest concern wasn’t the financial underpinnings of their own company. It was tumbling stock prices, which depressed the value of the portfolios of their 15,000 clients. Bosway saw no need to rush home…
Izod rolled out a new line of Indy Racing League-themed jeans and shirts at a leading fashion show in Las Vegas last month.
This week Izod announced they will rev up a major marketing…
Dixie Chopper, a Coatesville company that makes what it claims are the fastest lawnmowers in the world, has hired a president who plans to triple production within three years. Gary A. Morgan, who stepped into the position yesterday, said he intends to boost the company’s share of the “zero-turn” mower market to 25 percent from […]
“Traditionally, it isn’t over until the fat lady sings. But it seems it will soon be over for the singing fat lady.”
So opens a piece in The London newspaper The Independent concerning the slimmer and fitter brand of opera…
Despite almost three months of attempted negotiations, officials for Lin TV Corp. and Bright House Networks have not been able to agree to extend their current deal to retransmit Lin’s three local channels on the cable system. Lin officials say Bright House has not responded to their proposals. However, Buz Nesbit, president of Florida-based Bright […]
As with everywhere else, in dance audiences there are two kinds of people. There are those who read the program notes beforehand to discern the choreographer’s intent and/or to get an anchor firmly attached to interpretation before the show begins. And there are those who prefer to experience a work on stage without any prior introduction. I’m one of the latter-although I do go back to the notes afterwards to see if the intention was communicated. In the case of…
