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Investors and analysts brushed off the 21-percent quarterly profit growth announced by Eli Lilly and Co. this morning and focused on the company’s launch of its new blood-thinning drug Effient. Shares of the Indianapolis-based drugmaker were flat in morning trading, in line with broader markets, even though Lilly boosted its year-end profit forecast by a […]
A southern Indiana city is considering whether to convert its municipal power plant so that it could burn waste wood instead of coal. Jasper city officials say the plant has been shut down for all but a few weeks this year because low electricity prices have made it too expensive to operate. Doug Tischbein of […]
A former member of the Indianapolis City-County Council has been elected to fill a vacancy in the Indiana State Senate. Republican precinct committee members elected Scott Schneider during a caucus last night to replace Teresa Lubbers, who resigned from the Senate to become the state’s higher education commissioner. Schneider’s term representing Senate District 30, which […]
Second-quarter profit rose 21 percent at Eli Lilly and Co., helping the company beat the expectations of Wall Street analysts and raise its year-end profit forecast. The Indianapolis-based drugmaker earned $1.16 billion, or $1.06 per share, including a $105 million after-tax charge Lilly recorded to prepare for an expected legal settlement involving its bestseller Zyprexa. […]
The minimum wage for Indiana workers is going up. The state’s minimum wage will increase from $6.55 per hour to $7.25 per hour on Friday. It coincides with a 10.7-percent increase in the federal minimum wage to $7.25 per hour. The Indiana Minimum Wage Law applies to the minority of Hoosier employers and employees not […]
The Duffy Tool and Stamping plant in Muncie will close by the end of October, costing about 130 workers their jobs, company officials said. Duffy’s parent company, Cleveland-based Brittany Stamping LLC, told the Muncie Star Press that the decision to close was caused by poor national economic conditions “created by the collapse of the banking […]
A study commission has concluded that a major development involving a new youth-sports complex would be viable for Westfield,
the city announced this morning.
Indiana-based Franklin College and Ohio-based Franklin University resolved their legal case last night, with Franklin University
agreeing to take specific steps in its advertisements to distinguish itself from Franklin College.
The owner of the popular Broad Ripple Italian restaurant Ambrosia plans to open a new location downtown on the first floor of the Hampton Inn along Maryland Street. The…
Barge builder Jeffboat is laying off about 120 workers at its southern Indiana manufacturing facility along the Ohio River. The job cuts will leave the division of American Commercial Lines Inc. with about 1,100 workers at the Jeffersonville facility. Company spokesman David Parker blamed the recession and fluctuating demand for the layoffs announced yesterday. The […]
Indiana-based Franklin College and Ohio-based Franklin University resolved their legal case last night, with Franklin University agreeing to take specific steps in its advertisements to distinguish itself from Franklin College. The agreed judgment against Franklin University was negotiated yesterday by U.S. District Court Magistrate Judge Tim Baker and signed today by U.S. District Court Judge […]
A study commission has concluded that a major development involving a new youth-sports complex would be viable for Westfield, the city announced this morning. Mayor Andy Cook announced in April that Westfield wanted to build a $60 million youth sports complex with a 4,000-seat multipurpose outdoor stadium, indoor sports facilities, and fields for baseball, soccer, […]
Charities helping homeless people and trying to prevent homelessness will soon have access to $3.9 million in federal stimulus grants. The money targets Marion County residents who need a place to live, or who need help with rent or utilities in order to avoid homelessness. Indianapolis was awarded the money in May, but handed off administration to […]
A recreational vehicle industry supplier plans on hiring about 240 people in northern Indiana as it shifts some production from Sweden. Dometic Corp. will spend at least $9 million on equipment for a factory in Elkhart to make refrigerators, awnings, air conditioners and other products. Company president Douglas Whyte said the factory could start production […]
Indianapolis-based Vertellus Specialties Inc. has acquired Degen Oil & Chemical Co., a New Jersey-based manufacturer of alkyd resins and specialty vegetable, nut and fish oils, the companies announced yesterday. Terms of the deal, which closed July 1, were not disclosed. Vertellus, which develops and manufactures specialty chemicals used for pharmaceutical, personal care, nutrition and agricultural […]
Indianapolis-based HHGregg today said it would price a previously announced public stock offering at $16.50 per share in hopes of raising about $53 million. The appliance and electronics retail chain announced the offering of 3.5 million shares of its common stock last week. Credit Suisse Securities LLC and Barclays Capital Inc. are the joint underwriters […]
I just returned from a vacation with family at the New Jersey shore. But, of course, I didn’t leave A&E behind.
No, I didn’t catch any Atlantic City casino shows — although, I regret missing Chazz Palminteri do his one-man show,…
The end of sweeping cuts in employee health benefits and the beginning of another trend is in sight, says
Mike Miles, vice president and senior benefits consultant at Gregory & Appel Insurance.
Employers have slashed benefits so deeply that the cuts…
The new owner of a northeastern Indiana recreation vehicle maker is hiring about 650 people for its Decatur plant, although former workers are not guaranteed to be rehired. A New York-based capital fund said it completed its $33 million purchase of Fleetwood Enterprises Inc. last week. The renamed Fleetwood RV Inc. has already accepted more […]
More than 200 information technology staffers will gather today at Purdue University to build a room-sized supercomputer that is expected to be the largest campus computer in the Big Ten. The new supercomputer, called “Coates,” will be built from more than 10,000 computer processors. Purdue’s previous supercomputer, “Steele,” had 6,500 when it was built last […]
