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Two prominent financial ratings companies downgraded their outlooks for Carmel-based insurer Conseco Inc. yesterday. International credit ratings agency Fitch Ratings Inc. put the ratings of Conseco and its subsidiaries on “negative watch” status. And New York-based Moody’s Investors Service downgraded Conseco’s financial strength rating and its bank-debt rating while giving the insurer a “negative” outlook. […]
A top state senator is developing a proposal for fixing Indiana’s bankrupt unemployment insurance fund that he said yesterday is likely to include higher taxes on employers and cutting benefits paid out to the jobless. Republican Sen. Dennis Kruse of Auburn, chairman of the Senate Pensions and Labor Committee, is taking the lead on the […]
Conner Prairie will prepare for the April 2 opening of its outdoor season with its full-time staff reduced by 18 percent after a combination of voluntary resignations and layoffs. The cuts affect 19 employees, reducing the full-time staff to 104 workers. The museum employs another 175 people on a part-time and seasonal basis. CEO Ellen […]
Major automakers’ U.S. sales continued their deep slump in February, putting the industry on track for its worst sales month in more than 27 years as huge rebates and low-interest financing failed to spur fearful consumers to make a major purchase. General Motors’ sales tumbled 53 percent from a year earlier, while Ford’s U.S. sales […]
Eli Lilly and Co. plans a $2.4 billion debt sale to repay the loans it used to acquire ImClone Systems Inc., Bloomberg News reported, citing an unnamed person familiar with the transaction. Indianapolis-based Lilly bought New York-based ImClone for $6.3 billion in November. Lilly plans to sell three batches of bonds, the person said. Lilly […]
The developer of a new police cruiser is considering producing the clean-burning vehicle in Indiana. Atlanta-based Carbon Motors Corp. said today that Connersville, about 70 miles east of Indianapolis, is among five locations the company is weighing. The others are in Georgia, Michigan, North Carolina and South Carolina. The company said it has issued a […]
The federal government is hoping the third time’s the charm for a newFBI field office in Indianapolis. The U.S. General Services Administration said today it has awarded thedeal to Ohio-based Fedcar Company Ltd., which plans to build a$39.8-million campus on 14 acres near Interstate 465 and AllisonvilleRoad in Castleton. The deal has been a bureaucratic […]
The federal government is hoping the third time’s the charm for a new FBI field office in Indianapolis. The U.S. General Services Administration said today it has awarded the deal to Ohio-based Fedcar Company Ltd., which plans to build a $39.8-million campus on 14 acres near Interstate 465 and Allisonville Road in Castleton. The deal […]
The Federal Reserve today rolled out a much-awaited program aimed at boosting the availability of credit to consumers and small businesses. The Fed will lend up to $200 billion to spur consumer lending – for autos, education, credit cards and other consumer debt. The money will be used to provide financing to investors to buy […]
Welcome to the first (and I hope last) edition of Lou Harry’s A&E Most Wanted.
Artist Emma Overman had this painting lifted from outside her Harrison Center for the Arts studio in…
Ford Motor Co. said today its U.S. sales fell 48 percent in February, proof that huge rebates and low-interest financing haven’t been enough to entice fearful consumers to make a major purchase. The Dearborn, Mich., automaker sold 99,060 vehicles last month, compared with 192,248 the same month in 2008. In January, industry-wide U.S. sales dropped […]
An overnight robbery of the Residence Inn on Digital Way in Indianapolis could be linked to a string of other robberies. Just after 2:30 a.m., two men pulled a knife on the desk attendant and made off with a small amount of cash. Investigators say the men fit the description of two thieves who robbed […]
Simon Property Group Inc. plans to hoard cash this year to purchase property that may come on the market, said David Simon, CEO of the Indianapolis-based mall owner. Simon made the comments this morning at a Citigroup 2009 Global Property CEO Conference in Naples, Fla., Bloomberg News reported. “We are going to hoard and warehouse […]
Carmel Mayor Jim Brainard defended himself yesterday in a meeting with council members about the costs of the Keystone Avenue project. The state originally provided $90 million for the construction of multiple roundabouts on Keystone. The cost has increased to $130 million. Brainard says the initial cost was an estimate, but some council members say […]
Fort Wayne Foundry Corp. plans to close its production plant in Fort Wayne in June, eliminating 157 hourly positions. The company said today that it also would conduct a “mass layoff” in June at its Fort Wayne machining division, which had about 150 employees in mid-2007. The company did not say how many jobs would […]
A new Web site will allow people to track how the federal economic stimulus package is affecting Indiana. The invest.in.gov Web site includes some basic information about the stimulus money, such as how much cash will come to Indiana for roads and which projects have already been selected. The site also includes a message from […]
Indianapolis-based Marsh Supermarkets Inc. said today it plans to open its first new store in almost a year. Marsh will open a Hometown Market store in the Chapel Hill neighborhood of Indianapolis in late spring. The store, at 7405 W. 10th St., will take over the site of a former O’Malia Food Market that was […]
Decatur-based Porter Inc. has laid off another 62 workers, the latest round of cost-cutting for the troubled boat manufacturer. The northeast Indiana company has laid off 225 workers in the last 90 days. And since 2007, the company has reduced its work force from a peak of 600 employees to about 130, plant manager Pat […]
A little girl missing for more than 15 hours has been found. Indianapolis Police located 8-year-old Annalexass Van Duyn today just after 8 a.m. She disappeared yesterday at 5:15 p.m after leaving for a friend’s house in the 3700 block of Gladstone Avenue, a block-and-a-half away from her home. She was found in another person’s […]
An iconic flatiron building on Massachusetts Avenue downtown has a new owner nearly three years after the property first went on the market, IBJ’s Chip Cutter reports…
