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Evansville-based utility Vectren Corp. reported profit of $37.1 million in the fourth quarter of 2008, a 7-percent dip compared with the same period the previous year. Profit for the quarter ended Dec. 31 was 46 cents per share, a penny short of analyst estimates. Profit for the entire year declined nearly 10 percent, to $129 […]
The Academy Awards are coming up on Sunday and, while I know the best film of the year won’t win (since “Wall*E” wasn’t even nominated), I’ll still be tuning in to root for some favorites (Go “In Bruges” for Best…
The number of laid-off workers receiving unemployment benefits has jumped to an all-time high near 5 million while new jobless claims remain well above 600,000. Both figures were worse than expected and new projections from the Federal Reserve show unemployment rising for the rest of this year. The Labor Department reported today that the number […]
Mokulele Airlines yesterday said it made a $300,000 loan payment, staving off seizure of its assets and operations by business partner Republic Airways Holdings Inc. Mokulele had defaulted on an $8 million loan, and Indianapolis-based Republic said it would come in and operate Mokulele if the Hawaii carrier failed to make the payment by the […]
Two large health insurers, including a unit of WellPoint Inc., are being investigated for charging more than California-mandated rates for last-resort health coverage affecting some 19,000 people. Blue Shield of California charged premiums as much as 55 percent above the California cap, while policies of Anthem Blue Cross, a unit of Indianapolis-based WellPoint, have been […]
A bill that would revoke the business licenses of companies that repeatedly hire illegal workers won unanimous support from a Senate committee yesterday. The committee took the unusual step of holding three separate meetings on the proposal – listening to supporters and opponents – before taking a vote. Sen. Mike Delph (R-Carmel) supports legislation to […]
A month after federal officials expressed concern about changes at Indiana’s environmental agency, state officials will meet today with their federal counterparts to explain those changes and how they might affect environmental protection. Environmentalists fear the Indiana Department of Environmental Management’s recent move to dissolve its enforcement office, take over air monitoring contracts with six […]
Several local government reorganization proposals floundered at the Indiana Statehouse yesterday, as lawmakers resisted some of the vast changes proposed by Republican Gov. Mitch Daniels. The Senate Local Government Committee gutted a bill to eliminate township governments, instead voting 9-2 for a more modest measure that would leave townships intact but add a review of […]
Circuit City’s demise was bad news for Indianapolis-based developer Kite Realty Group during the fourth quarter of 2008. Despite higher revenue, Kite suffered a $2 million loss in the period ended Dec. 31 due to the bankruptcy of the national electronics retailer, which had been the developer’s seventh largest tenant. The company released its quarterly […]
The United Auto Workers’ deal with Detroit’s three automakers limits overtime, changes work rules, cuts lump-sum cash bonuses and gets rid of cost-of-living pay raises, people briefed on the agreement said today. The UAW announced yesterday that it reached the tentative agreement with General Motors Corp., Chrysler LLC and Ford Motor Co. over contract concessions, […]
Seeking to tackle “a crisis unlike any we’ve ever known,” President Barack Obama unveiled an ambitious $75 billion plan today to keep as many as 9 million Americans from losing their homes to foreclosure. Another key component would specifically help those said to be “under water” – with dwellings whose market value have sunk below […]
Dutchmen Manufacturing has laid off about 100 workers from a northern Indiana plant where it makes recreational vehicles. Dutchmen human resources director Suzanne Randall said the production and office workers at the Goshen plant were given notice on Friday and laid off the same day. They were not given severance packages. Randall blamed the layoffs […]
A mobile-phone service launched last spring by Carmel-based company ChaCha Search Inc., the human-assisted Internet search engine, has scored a large corporate advertiser. Kansas City, Mo.-based H&R Block Inc. has launched a mobile advertising campaign using ChaCha’s mobile-phone service as the outlet. Terms of the deal were not disclosed. H&R Block is running the campaign […]
Anderson-based I Power Energy Systems, a spinoff of Remy International that makes co-generation power units for buildings, has raised $2 million from investors. The private placement managed by Chicago-based David A. Noyes & Co. sold 16,000 series B convertible units at $125 each. Proceeds will be used in part to introduce products, increase marketing and […]
The Salvation Army is rethinking a request to demolish an historic home it owns next to its headquarters at Michigan and Alabama streets. The not-for-profit…
A male-oriented salon and spa across from Keystone at the Crossing has closed its doors for good. Co-owner Bernie Combs sent an e-mail to 4:59 barberlounge customers yesterday, saying the upscale salon was closing immediately after weeks of deliberation. “It has become quite clear that, while the concept is great and our clients love what […]
An auto parts manufacturer in Columbus will continue operating after union members overwhelmingly voted yesterday to accept wage cuts and changes to insurance and retirement benefits. Columbus Components Group, which operates a former Arvin Industries plant, notified its 400 workers Feb. 9 that the company would close as early as March 1, unless they agreed […]
Locally based White River Capital Inc. posted an $880,000 profit in the fourth quarter of 2008 but lost $14.4 million for the full year. White River is the holding company for a pair of subprime auto-loan firms: locally-based Union Acceptance Co. LLC and Virginia Beach, Va.-based Coastal Credit LLC. The company’s fourth-quarter profit of $820,000, […]
An Indianapolis police officer faces felony charges after investigators say he choked his 11-year-old daughter. Officer Andrew Dodd, 35, attended an initial court hearing this morning after being charged with one count of strangulation and two counts of battery. According to investigators, Dodds became angry when his daughter spilled milk on the couch and refused […]
Anderson-based I Power Energy Systems, a spinoff of Remy International that makes co-generation power units for buildings, has raised $2 million from investors. The private placement managed by Chicago-based David A. Noyes & Co. sold 16,000 series B convertible units at $125 each. Proceeds will be used in part to introduce products, increase marketing and […]
