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IRL revs crowd at Long Beach

By all accounts the Grand Prix of Long Beach was a success for the Indy Racing League. The IRL, which signed a five-year deal to take over the former CART event following last…

House Democrats propose new jobless-fund fix-WEB ONLY

Employers would pay higher taxes under a revised proposal Indiana House Democrats presented yesterday as a way to fix Indiana’s bankrupt unemployment insurance fund. The taxes employers would pay into the fund overall would be higher than House Democrats originally proposed, at least initially, and the new plan still would not cut benefits paid to […]

Stock market sinks on more bank worries-WEB ONLY

U.S. stock markets sank today as investors booked profits from last week’s gains and new worries set in over banks’ profit reports. The Dow Jones industrial average index plummeted 3.6 percent, to 7,841.60, the Standard & Poor’s 500 dropped 4.2 percent, to 832.42, and the NASDAQ composite fell 3.9 percent, to 1,608.21. Worries about the […]

Richmond plant closure to hit 330 workers-WEB ONLY

Cinram Inc., a Toronto-based manufacturer and packager of CDs and CD-ROMs, plans to close its Indiana plant, costing 330 workers their jobs, according to the Richmond Palladium-Item. Company officials told workers and Richmond city officials that the plant would close this summer in phases, with the first phase on June 16, the second on June […]

Navistar chosen to help develop hybrid bus-WEB ONLY

Federal officials have chosen Navistar Corp.’s Fort Wayne plant to help develop a new electric hybrid school bus that’s part of the Obama administration’s goal of lessening the nation’s reliance on petroleum. The U.S. Department of Energy said Friday that Navistar will be a partner in a project to develop, test and put onto the […]

Brightpoint sneaks into Fortune 500-WEB ONLY

Indianapolis-based wireless-device distributor Brightpoint Inc. has joined the Fortune 500 for the first time, coming in 496th with $4.6 billion in 2008 revenue, according to the annual list of the nation’s largest companies released yesterday. Other Indiana companies to make the list: WellPoint Inc. (32), Eli Lilly and Co. (122), Cummins Inc. (181), NiSource Inc. […]

Massive firefighting convention returns to Indy-WEB ONLY

More than 32,000 firefighters will be in Indianapolis this week for the annual Fire Department Instructors Conference, which begins today. The city has hosted the event, billed as the largest firefighting convention in the world, since 1993. Attendees are expected to spend about $31 million. Fox 59 will have more at 10 p.m.

Lawmakers open debate on CIB bailout plan-WEB ONLY

State lawmakers could conduct more negotiations today on legislation to help the Capital Improvement Board fill its $47 million budget deficit. Key elements of the proposal include higher hotel, liquor, car-rental and ticket taxes in Indianapolis. In order to be enacted, the plan needs to be approved by the Legislature by April 29. It must […]

A decade later, Columbine victims remembered-WEB ONLY

People across the country are marking a tragic anniversary today. Ten years ago, 13 students and one teacher were killed in a shooting at Columbine High School in Littleton, Colo. The school is closed today, and school officials plan a private memorial service tonight.

Hoosier soldiers prepare to depart-WEB ONLY

Friends and family will say goodbye today to a group of Hoosier engineers heading to Afghanistan. The 170 National Guard soldiers are based in LaPorte. The carpenters, electricians, heavy-equipment operators and others will work to improve living conditions and quality of life for U.S. troops stationed in Afghanistan. The departure ceremony will be held at […]

Lilly gets lift after earnings rise 21 percent-WEB ONLY

Eli Lilly and Co. saw only a slight bump in its share price this morning after reporting first quarter profit that exceeded analysts’ expectations by 21 percent. The Indianapolis-based drugmaker said part of that increase was caused by the rapid rise of the value of the U.S. dollar against foreign currencies. The benefit isn’t likely […]

Former Colt releases debut album

Former Colts tight end Ben Utecht is releasing his self-titled debut album tomorrow on Stylos Records, distributed by World Entertainment. Utecht, who now plays for the Cincinnati Bengals, was part of the Colts’…

Big investor pushes for Lilly to buy Amylin-WEB ONLY

Eli Lilly and Co. would buy San Diego-based biotech company Amylin Pharmaceuticals Inc. if corporate raider Carl Icahn gets his way. Icahn, a major investor in Amylin, is pushing for an immediate sale of the company to Indianapolis-based Lilly, according to a letter written by Amylin’s lead independent director, James N. Wilson. Amylin and Lilly […]

Amish making exception for jobless benefits-WEB ONLY

The recession is hitting some northern Indiana counties so hard, even the Amish are making exceptions to their strict religious beliefs. In LaGrange and Elkhart counties, where much of the state’s Amish population is concentrated, the Amish church is allowing members to collect unemployment checks, the Chicago Tribune reported today. Amish shun most of life’s […]

WellPoint Holliday Park?

Indianapolis was one of the first cities to sell naming rights for sports venues when RCA in 1994 was allowed to pay $10 million to puts its name on the Hoosier Dome.

The dome has been demolished and the Colts have…

Richmond CD plant closure to hit 330 workers-WEB ONLY

Cinram Inc., a Toronto-based manufacturer and packager of CDs and CD-ROMs, plans to close its Indiana plant, costing 330 workers their jobs, according to the Richmond Palladium-Item. Company officials told workers and Richmond city officials that the plant would close this summer in phases, with the first phase on June 16, the second on June […]

Weighty bills look doomed as session nears end-WEB ONLY

Keep hope alive. That’s the stance Rep. Charlie Brown (D-Gary) is taking in hopes of reviving a bill that would impose a statewide smoking ban in enclosed public places. A version of the bill passed the House but went nowhere in the Senate. Now Brown hopes it finds new life in late-session conference committees, where […]

GM exec says 1,600 set to lose jobs-WEB ONLY

GM North America President Troy Clarke said in an e-mail to employees sent today that the layoffs are needed to ensure the company’s long-term viability. “In these unprecedented times, GM is reinventing every aspect of our business, including our organizational size and structure, to create a lean and agile company,” Clarke wrote in the e-mail […]

Lilly posts $1.3B profit, topping expectations-WEB ONLY

Eli Lilly and Co.’s profit soared above analysts’ expectations in the three months ended March 31. The Indianapolis-based drugmaker reported earnings per share of $1.20 this morning, well above the 99 cents Wall Street analysts had predicted, according to a survey by Thomson Financial. Lilly said first-quarter profit was $1.3 billion, up 24 percent from […]