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Eli Lilly and Co. watched $97 million and a whole lot of hope wash down the drain yesterday. The Indianapolis-based drugmaker and a development partner canceled clinical trials on an experimental drug to treat multiple sclerosis when the drug failed to delay progression of the disease in clinical trial patients. Lilly had partnered with the […]
Stant Corp., a 111-year-old manufacturing firm based in Connersville, filed for Chapter 11 bankruptcy protection yesterday, according to Bloomberg News. Stant, the world’s top maker of automotive fuel, oil and radiator caps, was one of Indiana’s 20 largest public companies in the mid-1990s, with annual sales exceeding $600 million, before it was acquired by United […]
Jasper-based German American Bancorp this morning reported second quarter profit of $2.8 million on $19.7 million in revenue. That compares to a profit of $3.1 million on $21.3 million in revenue during the same period a year ago. German American Bancorp CEO Mark Schroeder attributed most of the decline in profit to increased deposit insurance […]
Rieter Automotive North America Inc. plans to close its manufacturing plant in Lowell by the end of the year, leaving 130 employees jobless. The Farmington Hills, Mich.-based company informed the Indiana Department of Workforce Development on July 23 of its intentions to close the factory in Lake County in northwest Indiana. Rieter Automotive, a subsidiary […]
Allstate Corp. is ending its five-year run as the lead sponsor of the Allstate 400 at the Brickyard NASCAR race in Indianapolis,
company officials said today. The announcement comes after this year’s race at Indianapolis Motor Speedway
suffered a 20-percent attendance drop from last year’s event.
More than 125 people at General Motors Corp.’s metal-stamping plant in Indianapolis have signed up for buyouts or early-retirement
packages that are worth as much as $115,000 in cash per worker, a union official said this morning.
Indianapolis Colts officials this morning announced they signed a deal to make Fair Oaks Farms Milk the Official Milk of the team. Financial terms of the deal were not disclosed.
“They will be supplying…
Midwest governors met in Chicago today in a show of unity as they push for an eight-state, high-speed rail network – agreeing to set up a group that will coordinate the states’ bid for a share of $8 billion in federal stimulus cash for such projects. The one-day gathering, billed as a Midwest High Speed […]
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.
Allstate Corp. is ending its five-year run as the lead sponsor of the Allstate 400 at the Brickyard NASCAR race in Indianapolis, company officials announced today. The announcement comes one day after this year’s race at Indianapolis Motor Speedway suffered a 20-percent attendance drop from last year’s event. Allstate spokesman Raleigh Floyd told the Associated […]
Officials for Allstate today announced they are ending their sponsorship of the Brickyard 400 NASCAR race after five years.
The timing comes after a 20 percent attendance drop from last year, though Allstate officials…
More than 125 people at General Motors Corp.’s metal-stamping plant in Indianapolis have signed up for buyouts or early-retirement packages that are worth as much as $115,000 in cash per worker, a union official said this morning. July 24 was the deadline for accepting the offer. The buyout is the second that GM has offered […]
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 […]
Second-quarter profit for Old National Bancorp fell 50 percent from the same period a year ago, but the company still managed
to exceed analysts’ expectations.
Second-quarter profit for Old National Bancorp fell 50 percent from the same period a year ago, but the company still managed to exceed analysts’ expectations. The Evansville-based parent of Old National Bank this morning announced profit of $9.6 million, or 15 cents per share, beating analysts’ estimates by 9 cents. Revenue of $111.9 million was […]
A southern Indiana town board is considering filing for bankruptcy protection over a potential $1.45 million debt even though officials say state law doesn’t allow that action. The 3,000-person community of Georgetown faces the debt to a contractor and the nearby city of New Albany over stalled plans to build its own sewage treatment plant. […]
For me, the weekend included closing night at the Indianapolis International Film Festival featuring the deserving-national-release documentary “Racing Dreams” (and subsequent party and award presentation), a Saturday visit with the “Smoke on the Mountain” crew at Beef & Boards’ “Sanders…
The owner of a former Community Corrections jail facility at the southwest corner of Delaware and Maryland streets has put the building up for sale,…
Indiana University officials are expecting several hundred fewer freshmen to show up next month at the Bloomington campus than last year’s record-largest freshman class. Officials expect about 7,100 freshmen when the fall semester starts in late August. IU vice provost Roger Thompson said that would be a good enrollment figure because the school plans on […]
A state committee has set tomorrow as the date that officials from Indiana’s public colleges and universities must explain their decisions to raise tuition. The State Budget Committee, which includes four fiscal leaders in the General Assembly and the state budget director, wants the colleges to justify the increases when so many students and families […]
