ATA Airlines Inc. largely blames FedEx Corp. for knocking it out of business this spring. Now, the bankrupt airline is preparing
to fight back by suing the Memphis cargo giant, charging it wrongfully canceled a military-charter contract that generated
hundreds of millions of dollars in revenue for ATA.
Since he began scooping up shares of The Steak n Shake Co. last year, dissident investor Sardar Biglari has been forthright about his intentions. Perhaps to a fault. The Texan’s investor group in January laid out its strategy in a 10-page letter. First, it would push to elect two of its representatives to the nine-member board at the annual meeting. Then, it would ask shareholders to call a special meeting, where he hoped they would replace the majority of the…
Angela Braly, Wayne DeVeydt and the rest of the top brass at WellPoint Inc. face wrath over the company’s recent stock swoon
from a new group: ex-employees. Four former WellPoint workers have filed lawsuits against the Indianapolis-based health insurance
giant over the losses its 401(k) retirement plan suffered in March when the company slashed its profit forecast for the year.
After the checkered flag dropped on this year’s Indianapolis 500, the green flag fell on negotiations for a new television contract between the Indy Racing League and ABC/ESPN. The current deal doesn’t expire until the end of next season, but the contract calls for the parties to discuss an extension starting this month. Sources close to both sides said ABC/ESPN pays the IRL about $10 million annually, but getting that kind of guaranteed cash beyond 2009 could be difficult. Still,…
A couple of weeks ago, I returned home one evening to find our old cable TV box sitting on the kitchen table. My wife had grown tired of the high price for our bundled cable TV and broadband Internet and called a rival company. When she was quoted the new price, it was out with the old and in with the new at record speed. It turns out that there was a nice, new service available on our street that…
Bill Corley, who announced today that he will retire after 25 years as CEO of Community Health Network, says doctors nearly ran him out of the hospital within months of his arrival in 1984. Doctors mutinied because they tied Corley’s appearance to a new approach by the federal government to limit reimbursements for certain services. […]
The Detroit Free-Press reported that fans watching last weekend’s Red Bull Air Race World Series along the Detroit River got a “thrill-chill.”
The crowd size assembled along the river banks might have thrilled Indianapolis…
Last September, I instructed my retirement plan to purchase two of the very expensive Berkshire Hathaway (A) shares so I could attend the annual meeting of shareholders and participate in the numerous peripheral activities. Actually, I could have purchased just one share of the B stock for much less and still have been entitled to four credentials. Warren Buffett, one of the richest men in the world, and his partner, Charlie Munger, are retail hucksters. They have created the perception…
A locally based property management firm is struggling to find a buyer for its downtown apartment complexes, even as the city’s
rental market continues to thrive. The privately owned Zender Family Limited Partnership, which was founded 38 years ago,
placed its 18-property apartment portfolio up for sale in November.
When cash ran dry last summer at Indianapolis-based Benicorp Insurance Co., it could have created a major mess. But 10 months later, Indiana insurance regulators have kept all of Benicorp’s customers covered by health insurance and given its employees a soft landing as they make the transition to new jobs. The last of a backlog of claims has been paid off. “No family in Indiana will have an uncovered claim,” said Jim Atterholt, the Indiana commissioner of insurance. “That’s a…
Baldwin & Lyons Inc. has been publicly traded for nearly four decades. For most of that span, the Indianapolis company has gone quietly about its business of providing insurance for truck fleets. And investors who went along for the ride generally fared well. But recent months have been bumpy. Baldwin is in the tricky game of setting premiums, then hoping claims come in low enough to ensure a profit. The company’s financial results of late have been worse than expected….
Eli Lilly and Co.’s director of global security said in a company newsletter that he regrets that Lilly officials did not immediately report the discovery of an alleged noose hanging in a tree on its corporate campus in Indianapolis, according to a statement issued yesterday by a law firm that is suing Lilly for racial […]
Two Fort Wayne hospitals and a neurology center are launching a network to care for stroke victims, hoping to include as many as 30 facilities within 90 miles of the city. Parkview Health and Lutheran Health Network created the network with Fort Wayne Neurological Center, according to Greater Fort Wayne Business Weekly. Called StrokeCareNow, the […]
Speedway may have been built on motorsports, but some residents think a $500 million redevelopment plan that would transform the small town into a year-round racing-themed destination goes too far. The plan, which involves 350 acres south of Indianapolis Motor Speedway, has become the issue in town at a time when a certain race usually dominates conversations. At the cozy Charlie Brown’s Pancake and Steak House on Main Street, patrons mull over the project in-between forkfuls of the diner’s signature…
For Dr. Tim Story, frustration was the mother of invention. The Carmel internist didn’t like the cost or complexity of the electronic medical record systems he had seen. So he created his own. And now he’s trying to sell it to other doctors. “I wanted an EMR that I could use, that I could understand,” said Story, 55, who also chairs the largest group of physicians at Clarian North Medical Center. Story is by no means alone. Hundreds of doctors…
Hear the word “lace” and you’d be justified in thinking of such terms as “delicate,” “elegant” or, if you were in a whimsical mood, even “doily-esque.” Hear “knitting” and you are likely to imagine a grandmotherly woman working on a shawl. That assumes, of course, that you haven’t already been to the Indiana State Museum to see the new exhibit “Radical Lace & Subversive Knitting.” Hear those words after visiting and you’re likely to have other ideas. The exhibition, organized…
New Hampshire teen-ager Anna Grant, treated like a villain in the RCA Dome four months ago, is being treated like a queen today at the Indianapolis Motor Speedway.
Grant, 14, made news when she…
An Arizona man yesterday filed a class-action lawsuit against the NCAA over its practice of not refunding the $6 handling fee for lottery applications for tickets to Final Four games. In his suit in U.S. District Court in Los Angeles, Tom George asks that the NCAA to end the “illegal gambling” practice for men’s hockey […]
Two defendants blamed for errors in the Central Library expansion project have agreed to pay the Indianapolis-Marion County Public Library $1.27 million. Patriot Engineering and Environmental Inc. and The Rosk Group Inc., both locally based, agreed to a settlement May 15 after participating in a series of court-ordered mediations, the library announced this morning. Both […]
Super Bowl site selections can create odd alliances among the 32 wealthy fellows casting the votes. The man who last year single-handedly dismantled Indianapolis’ bid to host the 2011 game came this year to the Circle City’s defense.
With Indianapolis embroiled…
