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Fort Wayne Foundry Corp. notified state officials this week that it will close a plant in Fort Wayne and another in nearby Columbia City, leaving 461 workers jobless. The company plans to close the plants by the end of the month. The Fort Wayne machining division employs 174 and the Columbia City division 287. The […]
By STEPHEN OHLEMACHER Associated Press Writer WASHINGTON The IRS is working on new rules that could require paid tax preparers to be licensed to improve tax compliance and reduce fraud, IRS Commissioner Doug Shulman announced Thursday. Eighty percent of taxpayers get help with their returns, either from paid preparers or computer programs, Shulman told a […]
Indianapolis-based Eli Lilly and Co. might make a play for one of the animal-health businesses that Merck & Co. Inc. now plans to divest. A spokeswoman for New Jersey-based Merck told the Wall Street Journal yesterday that the company plans to sell one of the two animal-health divisions it controls after its purchase of Schering-Plough […]
Many U.S. retailers said same-store sales fell in May, as expected, as shoppers continued to spend cautiously, focusing on bargains and food. The declines came in largely in line with analyst expectations, with frequent standouts such as The Buckle Inc. posting better results. Chic discounter Target Stores Inc. reported a bigger drop than analysts expected, […]
Third in a series of reports from my recent NYC trek.
I swear I wasn’t looking for an Indiana connection when I set out to find out where Broadway show folk hang out — and perform — after the curtains come…
Indiana-based manufacturer Philips Products Inc. is ceasing operations, a move that will put 675 people out of work at plants in six states. The closure will cost 250 jobs in its headquarters city of Elkhart, which has seen its unemployment rate reach about 18 percent with the collapse of the RV industry. The company says […]
Former Indianapolis Mayor Steve Goldsmith, never one to let grass grow under his feet, has started a not-for-profit
with one-time presidential candidate Howard Dean to promote Goldsmithâ??s pet cause of public-private partnerships.
The Council of Project Finance Advisors aims…
Normal 0 false false false MicrosoftInternetExplorer4 Chrysler heads back to bankruptcy court today to ask the judge overseeing its case to allow it to terminate the franchise agreements of 789 of its dealerships, despite the protests of many dealers who say the move could close their businesses for good. U.S. Judge Arthur Gonzalez is expected […]
Five Indianapolis not-for-profits learned yesterday that they will receive a total of $5 million in funding from the state’s Neighborhood Stabilization Program. Southeast Neighborhood Development Corp. will receive $1.3 million. John H. Boner Community Center, King Park Area Development Corp. and Riley-Newport Area Development Corp. each will get $1 million, and Near North Development Corp. […]
Normal 0 false false false MicrosoftInternetExplorer4 Patrick Rooney, who helped turn IUPUI’s Center on Philanthropy into a premier research center, has been chosen as its executive director, IUPUI Chancellor Charles Bantz announced today. Rooney is an economist who became the center’s first full-time research director in 1999. He has been serving as interim executive director […]
Check out these conceptual renderings of a public-private downtown redevelopment project approved today by the Metropolitan Development Commission. The $65-million project calls for apartments and retail space adjacent to the former site of Market Square Arena. The renderings suggest the…
The Indianapolis Metropolitan Development Commission this afternoon approved a city plan to partner with a private developer on a $65 million downtown redevelopment project adjacent to the former site of Market Square Arena. The plan, approved by a 7-2 vote, allows the city to enter into a project agreement with the developer, an entity called […]
Normal 0 false false false MicrosoftInternetExplorer4 WellPoint Inc. executives “explored” a plan to take the company private, its chief financial officer told investors today, according to a Reuters report. Because the stock price of the Indianapolis health insurer has been so low, its leaders considered using its own cash and lots of debt to help […]
Normal 0 false false false MicrosoftInternetExplorer4 Libertarian Party stalwart Andy Horning, who ran for Indianapolis mayor in 1999 and Indiana governor in 2000 and 2008, is leaving the state for a job in Texas, the party announced today in a press release. Horning, 50, has been the Libertarian Party of Indiana’s best-known torchbearer and most […]
Normal 0 false false false MicrosoftInternetExplorer4 The NCAA wants to give schools an economic break. College sports’ largest governing body has announced it will suspend membership dues for the next school year. It also hopes to save about $500,000 by holding most of its future committee meetings in its headquarters city of Indianapolis. Some NCAA […]
Indianapolis International Airport officials are facing a budget shortfall because of fewer flights at the same time they have higher costs from the new terminal that opened last year. Officials expect revenue to be $15 million less than planned this year but that the airport has enough cash reserves to cover the shortfall. Flight traffic […]
The troubled ISTA Insurance Trust says it will discontinue paying long-term-disability benefits to teachers next month – a move that drew a rebuke this morning from Indiana Insurance Commissioner Jim Atterholt. “It’s pretty shocking what they are attempting to do here,” he said. “These people on disability – they have nothing after July. How do […]
Normal 0 false false false MicrosoftInternetExplorer4 Indianapolis-based Ice Miller LLP has the highest percentage of female equity partners among the nation’s most profitable law firms, according to the June issue of The American Lawyer magazine. More than a quarter – 27.3 percent – of Ice Miller’s partners who have an ownership stake in the firm […]
