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Delta Faucet Co. has laid off 77 employees at its Greensburg plant – the company’s sixth round of employment cuts within the past two years, according to the Greensburg Daily News. The Carmel-based company began trimming its payroll in early 2007 and has laid off a total of more than 400 workers during that time, […]
WellPoint Inc. CEO Angela Braly predicts that the health insurer’s profit per share will grow 1 percent to 3 percent this year. That means Indianapolis-based WellPoint’s profit would come in between $5.53 and $5.64 per share – below the expectations of Wall Street analysts, who have predicted WellPoint would earn $5.68 per share, according to […]
More than 50 Indianapolis police officers will no longer be allowed to work off-duty at a metal recycling business that is under investigation in the alleged purchase of stolen scrap metal. Raids by police and federal officials on six Indianapolis OmniSource scrap yards yesterday marked the culmination of a yearlong investigation. No one was arrested […]
Republican state lawmakers were never keen on House Democrats’ idea to take $500 million from a trust fund and spend the cash on local road projects. But the GOP-controlled Senate made the message clear yesterday as it approved a proposal to protect the fund by putting it into the Indiana constitution. Sen. Mike Delph (R-Carmel) […]
Legislation to require Indiana’s investor-owned utilities to buy surplus power from businesses and municipalities that install wind turbines or solar panels is advancing in the General Assembly, and supporters predict it will be approved. With interest in renewable energy growing nationwide, supporters say passing a so-called “net metering” bill would spark more solar, wind and […]
The bookstore chain Borders Group Inc. is looking for a replacement tenant for its 22,000-square-foot store at the corner of Meridian and Washington streets downtown. The Ann…
The major stock market indexes have staggered to their lowest levels in more than a decade, pulled down by investors’ rapidly waning confidence. The Dow Jones industrial average and the Standard & Poor’s 500 index closed today at their lowest levels since 1997, succumbing to growing worries about a recession that has no end in […]
Ameriana Bancorp of New Castle yesterday said it would not accept $9.8 million from the Troubled Asset Relief Program-or TARP-after all. The move follows Congress’ decision to retroactively attach new strings to acceptance of TARP funds. Language included in the stimulus package approved Feb. 13 imposes wide-ranging restrictions on executive compensation at companies receiving federal […]
Rose-Hulman Institute of Technology in Terre Haute will soon be searching for its third new president in five years. The engineering and science school announced today that Gerald Jakubowski was resigning effective June 30, three years after he took the job. No reason for his departure was announced, and the school said its board of […]
Bookstore chain Borders Group Inc. is looking for a replacement tenant for its 22,000-square-foot store at the high-profile corner of Meridian and Washington streets in downtown Indianapolis. The Ann Arbor, Mich.-based chain is marketing the property to potential replacement tenants but has made no final decision on whether to close, said Borders spokeswoman Mary Davis. […]
Bookstore chain Borders Group Inc. is looking for a replacement tenant for its 22,000-square-foot store at the high-profile corner of Meridian and Washington streets in downtown Indianapolis. The Ann Arbor, Mich.-based chain is marketing the property to potential replacement tenants but has made no final decision on whether to close, said Borders spokeswoman Mary Davis. […]
Rolls-Royce PLC’s new 10-year, $400 million agreement to produce helicopter engines brings another surge of business to the company’s Indianapolis manufacturing plant. Rolls-Royce said today it will supply Fort Worth, Texas-based Bell Helicopter Textron Inc. with Model 250 engines for Bell 206 and 407 helicopters for most of the next decade. It was the second […]
The U.S. policy of shunning communist Cuba by imposing a strict trade embargo has failed to prod the island nation toward democracy and should be re-evaluated, according to the top Republican on the Senate Foreign Relations Committee. “We must recognize the ineffectiveness of our current policy and deal with the Cuban regime in a way […]
President Barack Obama said today he would begin distributing $15 billion to the states within two days to help them with Medicaid payments to the poor. The money will begin reaching the states Wednesday from the newly passed $787 billion economic stimulus program, Obama told the nation’s governors during a meeting at the White House. […]
European Union regulators have approved the blood thinner prasugrel, Indianapolis-based drugmaker Eli Lilly and Co. announced this morning. The European Commission granted marketing authorization for prasugrel, which will be sold in Europe under the brand name Efient. Lilly spokeswoman Carole Copeland said the drug will be launched “in the coming weeks,” with a separate rollout […]
Marvin Harrison’s reluctance to take a pay cut could mark the end of his career in Indianapolis. Colts president Bill Polian told reporters yesterday at the NFL’s annual scouting combine that the team was trying to rework Harrison’s deal to lower the receiver’s salary cap number from approximately $13.4 million, the highest number of any […]
Gov. Mitch Daniels was scheduled to meet with President Obama this morning to discuss the challenges facing Indiana. Daniels is in Washington for a National Governors Association meeting. Obama says he wants to make it easier for governors to lead their states out of the economic crisis. Indiana expects to get about $4 billion from […]
BorgWarner Automotive has confirmed in a state filing that 750 workers will lose their jobs at its Muncie plant, which supplies transmission components to General Motors Corp. and Ford Motor Co. BorgWarner Inc., based in Auburn Hills, Mich., said early last year that its Muncie operation would close when the current union contract expires in […]
Indianapolis police are questioning two men this morning following an attempted robbery and shooting last night at Famous Dave’s Restaurant, 3645 Vincennes Road on the northwest side. A pair of armed men entered a back door of the restaurant around 10:30. Officers say the men fired several shots before discovering their getaway driver had fled. […]
The nation’s deepening recession has boosted business at Indiana’s pawn shops as people shed possessions – particularly electronics – for cash to pay bills. At Ace Pawn Shop in Bloomington, manager Chris Banul said business is up and he’s seeing more high-end items brought to the shop for collateral, or sold outright, as the economy […]
