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Pittsburgh-based PNC Financial Services Group Inc. acquired struggling National City Corp. on Dec. 31 for $5.6 billion. Before their merger, PNC had no presence here, while Cleveland-based National City had 172 Indiana branches, including 75 in the Indianapolis area. PNC CEO James Rohr, 60, recently sat down with IBJ to discuss the merger, the recession […]
Nadia Alvarado calls herself a salsera. By day she works toward her master’s in philanthropic studies at IUPUI, but five nights a week she lets down her raven hair, dons a swinging skirt and allows herself to be dipped and twirled across any dance floor that’ll have her, as long as there’s salsa music playing. […]
It wasn’t the buzz that finally got us to Siam Square, the Thai restaurant in Fountain Square we’ve heard so much about. No, we were led there by the luck of the draw. Or the spin, as it were. This month, we threw caution-and dining preferences-to the wind and employed the help of the Urban […]
Raising Indianapolis’ tax on hotel rooms-already one of the highest rates in the nation-could be the tipping point that causes conventioneers to bypass Indianapolis, some industry experts say. Marion County hotels already pay 16 percent in sales taxes-the 9-percent innkeeper’s tax, plus the 7-percent state sales tax. An increase in the innkeeper’s tax would push […]
Forget for the moment Brightpoint Inc.’s $344 million loss in the fourth quarter. It was mostly indigestion in the form of a goodwill impairment charge from buying Europe’s biggest wireless distributor in 2007. Just how the recession has gotten Brightpoint’s number is perhaps better reflected in a more mundane measure: After years of torrid gains […]
This week, familiar objects take on new looks and meaning at the Indianapolis Art Center. There is plenty to like-and plenty to be annoyed by-at the Indianapolis Art Center, which is featuring a trio of related exhibitions through April 19. All deal in some way with existing or found objects. The most ambitious-and least focused-of […]
The state’s two biggest pension funds are poised to combine into one Indiana Public Retirement System, with a single executive director and board. And they’ll need only one tourniquet to stem their bleeding. Over the last 15 months, the Public Employees’ Retirement Fund and Indiana State Teachers’ Retirement Fund have hemorrhaged a combined $8 billion. […]
Indianapolis Colts quarterback Peyton Manning is nothing if not professional. So it’s no wonder Manning slipped below the public eye when he lobbied Colts management to keep center Jeff Saturday. Manning has made…
Recipe for a cheap date tonight:
Start off at FringeFriday, held in the new Fringe Building at 719 E. St. Clair. Complementary hors d’oeuvres start at 5:30 followed by a 6:15 showcase including sketch comedy group Three Dollar Bill Comedy Co….
Tract house builder C.P. Morgan officially bites the dust today. Which raises plenty of questions:
–Has anyone else been more influential in the type of housing stock built in the Indianapolis area in the
past decade than Chuck Morgan?…
Keihin Indiana Precision Technology Inc. in Greenfield said this morning that it will cut 20 percent of its workforce, or 180 employees, in April. The reduction is the latest measure the company has taken to adjust to declining auto sales. The supplier of fuel-injection systems to Honda Motor Co. previously imposed pay cuts, four-day work […]
President Barack Obama’s health care plan would cost Indianapolis-based Eli Lilly and Co. “several hundred million” dollars in U.S. sales, a Lilly spokesman said today. If enacted, the plan would require drugmakers to give larger rebates to the federal Medicaid program, raising them to 21 percent from 15 percent off the list price. That proposal […]
Keihin Indiana Precision Technology Inc. in Greenfield said this morning that it will cut 20 percent of its workforce, or 180 employees, in April. The reduction is the latest measure the company has taken to adjust to declining auto sales. The supplier of fuel-injection systems to Honda Motor Co. previously imposed pay cuts, four-day work […]
C.P. Morgan Communities, the most prolific builder in the Indianapolis area for a decade, plans to shut down for good tomorrow, another victim of the worst housing slump in a generation. “This is one of the most difficult decisions I’ve ever had to make,” owner Charles P. Morgan said in a statement. “With home prices […]
Political sparring in the narrowly divided Indiana House has sidelined legislation to help fix the state’s bankrupt unemployment insurance fund – but lawmakers say the critical issue will be revived. The proposal would have significantly raised taxes on employers to help balance the fund. The account pays out millions of dollars more than it collects […]
The Greatest Spectacle in Racing is 87 days away, but today you can get your first look at the 2009 Indy 500 pace car. Former winners Al Unser Jr., Johnny Rutherford and Eddie Cheever Jr. will be on hand for the unveiling at the Indianapolis Motor Speedway Hall of Fame Museum at 4 p.m. Fox […]
Indianapolis police are trying to determine the cause of an accident that killed a young driver just after midnight. Investigators say he lost control of his car, slammed into a traffic light at East Adler and South Meridian streets, and then crashed into two parked cars. The young man has not been identified.
