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Evansville-based Mead Johnson Nutrition, the world’s largest maker of baby formula, raised $720 million in the first U.S. initial public offering since November. The company, a unit of New York-based Bristol-Myers Squibb Co., began trading on the New York Stock Exchange this morning under the ticker symbol “MJN,” with shares opening at $26. Mead Johnson […]
California’s Anthem Blue Cross, a subsidiary of Indianapolis-based WellPoint Inc., will pay a $1 million fine and an estimated $14 million in reimbursements for medical expenses paid out of pocket by 2,330 people dropped by the insurer. The California Department of Insurance is set to announce the deal today, according to the Los Angeles Times. […]
The U.S. trade deficit fell to the lowest level in nearly six years in December as the recession depressed demand for imports. The trade deficit in 2008 fell for a second straight year, and economists expect an even bigger decline this year. The Commerce Department said today that the deficit in December fell 4 percent, […]
Dan Krajnovich thinks UnitedHealthcare’s new and improved swipe cards will help his company add more doctors to its network of providers, boosting its competitiveness in the marketplace. The cards, which can be swiped through any credit-card style reader, gives providers access to a secured UnitedHealthcare Web portal that includes a patient’s past medical claims, specifics […]
Indiana State Police say it might be mid-afternoon before the southbound lanes of Interstate 65 completely reopen on the south side of Indianapolis after a tanker truck carrying 8,500 gallons of fuel overturned this morning. State police say crews must drain the fuel from the tanker truck before it can be removed. Sgt. Anthony Emery […]
An automobile-parts manufacturer in Columbus with 500 employees will shut down unless union members make concessions, according to The Republic of Columbus. Columbus Components Group, which operates in a former Arvin Industries plant, said it would begin closing down March 1 unless employees agree to a 5-percent pay cut, among other concessions, the newspaper said. […]
A new proposal would help fix Indiana’s depleted unemployment insurance fund by raising taxes on employers. The Indiana House labor committee voted 9-3 yesterday to raise more money from businesses by increasing both the taxable wage base and tax rates. The plan wouldn’t raise enough money to immediately fix the fund, which is currently paying […]
The Indiana House approved two massive spending bills yesterday – a job-creation proposal that would funnel $1 billion toward local road projects and an education budget that would give schools a 2-percent spending increase. Some Republicans objected to both bills because they would each tap into reserve or trust funds to help pay for the […]
State Sen. Luke Kenley (R-Noblesville) said yesterday that both the Indianapolis Colts and Indiana Pacers are interested in helping the city’s Capital Improvement Board dig out of its $43 million annual operating deficit. Kenley, chairman of the Senate Committee on Appropriations, said he has met with each team’s representatives to address budget shortfalls plaguing the […]
Investors are frustrated with the government’s latest bank bailout plan – and showing it by unloading stocks. The major stock indexes fell more than 4 percent today, including the Dow Jones industrial average, which tumbled 382 points. Financial stocks led the market lower, a sign of how concerned Wall Street is about the government’s ability […]
A longtime Wayne County judge has been named the new chairman of the Indiana Alcohol and Tobacco Commission. Gov. Mitch Daniels appointed Judge P. Thomas Snow to the position today. Snow has been a Superior Court judge in the eastern Indiana county, which includes Richmond, since 1989. He will start as alcohol commission chairman on […]
The recession is catching up with the Indianapolis Symphony Orchestra, which laid off eight people, or 10 percent of its non-musician work force, today. The layoffs are part of a scramble to shave about $600,000, or 2 percent, from the ISO’s $29.5 annual budget. “We will combat these economic challenges by operating as efficiently as […]
The U.S. Postal Service announced today that the price of a first-class stamp will rise 2 cents, to 44 cents, on May 11. That gives plenty of time to stock up on Forever Stamps, which will continue to sell at the current 42-cent rate until the increase occurs. They will remain valid in the future […]
A Muncie plant that makes boxes for a variety of consumer products has announced that it will close, putting 154 employees out of work. Graphic Packaging International plant manager Rich Maday said the company announced the plans today. Work at the plant will be moved to other factories by the summer. Marietta, Ga.-based Graphic Packaging […]
General Motors Corp. said today it will cut 10,000 salaried jobs, citing the need to restructure itself with a government deadline looming and amid some of the worst sales in the auto industry’s history. The Detroit-based automaker said it will reduce its total number of salaried workers to 63,000 from 73,000 this year. About 3,400 […]
Hamilton Southeastern’s school-redistricting plan has been approved. The school board passed the plan in a 5-1 vote last night. Supporters said the plan was necessary to balance enrollment as Riverside School prepares to open a wing that will accommodate 1,000 additional students. The new boundaries take effect this fall.
Falling demand for wireless devices and discounted prices caused locally based Brightpoint Inc.’s revenue to drop 36 percent in the fourth quarter of 2008 compared with the same period a year ago, the company said late yesterday. The Indianapolis-based mobile technology distributor reported a loss of $344.4 million on $1 billion of revenue for the […]
Jamestown was expected to give a hero’s welcome today to a firefighter injured in an interstate accident in late December. Fred Long, 46, was pinned by a semi after responding to a slide-off of a sport-utility vehicle on I-74. Long was released from rehabilitation today. To mark the occasion, Boone County firefighters organized a morning […]
An Indiana House Committee will consider a bill tomorrow that would let schools knock 10 days off the required 180-day school year. To compensate, administrators would be required to add about 20 minutes to each school day. A parents’ group called Save Our Summers is lobbying for the bill, which would also require an 11-week […]
Spring Mill Elementary parents talked with Washington Township officials this morning in the wake of fatal bus accident Friday that claimed the life of 10-year-old Christopher Michael Beltz. Superintendent Dr. James Mervilde discussed bus safety during today’s meeting as well as the need to more closely inspect bus driver records. School officials confirmed one of […]
