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Second-quarter profit fell nearly 8 percent at WellPoint Inc. as rising joblessness trimmed its customer rolls by nearly 340,000 people, the company announced this morning. But the Indianapolis-based health insurer managed to exceed analysts’ expectations, posting profit per share of $1.50, before investment losses. Analysts were expecting $1.43 per share, according to a survey by […]
Eli Lilly and Co. CEO John Lechleiter and his wife, Sarah, have pledged to give the United Way
of Central Indiana a total of $1 million over the next four years as a “challenge to CEOs and other community leaders to step
up their giving.”
Conseco Inc. said it would meet analysts’ expectations for the second quarter by posting earnings of at least 22 cents per share, before investment losses. The Carmel-based health insurer announced the preliminary financial results today after the market closed. Its total net income will swing to a gain of $16 million to $28 million compared […]
Gov. Mitch Daniels is going to China. This afternoon, Daniels announced he’ll lead his first-ever trade delegation to the Asian nation. He’ll be joined on the Sept.5-16 trip by Hoosier business leaders and Indiana Secretary of Commerce Mitch Roob. An Indiana governor hasn’t visited China in more than a decade. Daniels will visit Shanghai as […]
Eli Lilly and Co. and a development partner has canceled clinical trials on an experimental drug to treat multiple sclerosis
after the drug failed to delay progression of the disease in trial patients.
Indianapolis-based Grain Dealers Mutual Insurance Co., one of the largest property-casualty insurers in the state, will
become part of The Main Street America Group, the Jacksonville, Fla.-based company said this morning.
Indianapolis-based Grain Dealers Mutual Insurance Co., one of the largest property-casualty insurers in the state, will become part of The Main Street America Group, the Jacksonville, Fla.-based company said this morning. Financial terms of the transaction were not disclosed. The agreement has been approved by directors of both firms and is awaiting approval from the […]
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 […]
