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Two companies informed the state today that their closings collectively will leave 321 people out of work, while another, HHGregg Inc., said it will cut 51 jobs by outsourcing its delivery operations. Indianapolis-based telemarketer TeleServices Direct Inc. will slash 279 positions, including 247 sales representatives, and close its call center in Lafayette by April 4. […]
Eli Lilly and Co. CEO John C. Lechleiter saw his compensation spike nearly 28 percent in 2008 as he took over the top job at the Indianapolis-based drugmaker. Lechleiter received $10.8 million in salary, bonus, stock and perks during the year, according to a preliminary proxy statement filed today by Lilly with the U.S. Securities […]
Steep discounts resulting from the liquidation of Circuit City Stores Inc. are expected to have a short-term negative impact on Indianapolis retailer HHGregg Inc., company officials said this morning in conference call with investors. But, ultimately, they think HHGregg is well-positioned to fill the void that the nation’s No. 2 electronic retailer will leave when […]
A judge sided with Indiana regulators today and placed the financial assets of the estranged wife of indicted, parachuting money manager Marcus Schrenker into receivership, where bilked clients might recover some of their losses. The judge in suburban Hamilton County ordered the assets of Michelle Schrenker frozen and controlled by a court-appointed receiver. He issued […]
A section of roof fabric from the demolished RCA Dome will be used as a tarp to cover the old Herron School of Art’s so-called “main building” until Herron High School can afford to repair the dilapidated structure. Herron High, a charter school that is not affiliated with IUPUI’s Herron School, purchased the building and […]
Batesville hospital equipment manufacturer Hill-Rom Holdings Inc. saw revenue increase to $351.6 million in its first fiscal quarter, 3 percent better than the same period last year. Profit from continuing operations was up 15 percent, to $14.2 million. But the company doesn’t expect its good fortune to continue. Its hospital customers began slashing their capital […]
The women of the Indy Racing League continue to burn rubber. Sources close to the Newman Haas Lanigan team said the team is close to signing a deal with Milka Duno (and Robert…
Steep discounts resulting from the liquidation of Circuit City Stores Inc. are expected to have a short-term negative impact on Indianapolis retailer HHGregg Inc., company officials said this morning in conference call with investors. But, ultimately, they think HHGregg is well-positioned to fill the void that the nation’s No. 2 electronic retailer will leave when […]
Indianapolis Mayor Greg Ballard this afternoon will announce the city’s plan for spending $29 million in federal money. Part of a Neighborhood Stabilization Plan, the funds originally were allocated to the Department of Housing and Urban Development. Fox 59 will have more at 10 p.m.
After weeks of debate, Congress is giving consumers four more months to prepare for the upcoming transition from analog to digital television broadcasting. The House voted 264-158 yesterday to postpone the shutdown of analog TV signals to June 12, to address growing concerns that too many Americans won’t be ready by the Feb. 17 deadline […]
Purdue University’s chief fund-raiser is leaving West Lafayette to take control of the 2-year-old Kansas City Foundation for Higher Education, raising money for the University of Missouri-Kansas City. Murray Blackwelder’s departure comes about 18 months after he wrapped up the seven-year Campaign for Purdue, which raised $1.7 billion for the university. “The legacy of his […]
A judge could permanently freeze the financial assets of Marcus Schrenker’s estranged wife as early as today. Michelle Schrenker was the chief financial officer of his company. Investigators are trying to determine how much of a role she may have played in her husband’s alleged financial fraud. Marcus Schrenker also faces federal charges for bailing […]
Indiana Department of Transportation Commissioner Karl Browning submitted his resignation yesterday and will leave his position at the end of the month. Gov. Mitch Daniels has named Michael Reed, executive director of the Indiana Utility Regulatory Commission since 2006, to replace Browning. Reed will join INDOT on Feb. 16 and work with Browning on the […]
A bill that would impose a statewide ban on smoking in enclosed public places in Indiana ignited sometimes emotional debate before an Indiana House committee yesterday. The lengthy hearing before the House Public Policy Committee pitted health advocates, business leaders and people who said their lives have been torn by secondhand smoke against opponents of […]
A man is behind bars this morning after police say he reported a vacant house fire that he set himself. Firefighters were called to the 1200 block of North Sheffield Avenue about 12:30 a.m. by someone inside the house who said the walls were burning. Crews reported smelling gasoline in the home’s top floor after […]
Purdue University’s chief fund-raiser is leaving West Lafayette to take control of the 2-year-old Kansas City Foundation for Higher Education, raising money for the University of Missouri-Kansas City. Blackwelder’s departure comes about 18 months after he wrapped up the seven-year Campaign for Purdue, which raised $1.7 billion for the university. “The legacy of his energetic and […]
Tonight, the Guthrie Theatre’s touring production of “Henry V” comes to Purdue University. Shortly after talking about it on the air today at Fox 59 (where I offer a weekly preview of upcoming arts events–see clip at www.ibj.com/arts), I…
All things considered, there shouldnâ??t be a fuss about President Obamaâ??s plan to cap salaries of executives
in companies that receive federal bailouts.
Thatâ??s the take of Dan Dalton, an Indiana University specialist on corporate governance.
Dalton points out that…
Indianapolis retailer HHGregg Inc. overcame a decline in comparable-store sales and the difficult economic environment during its third fiscal quarter, reporting profit of $17.1 million – a 13-percent improvement from the prior year period. Sales during the quarter were up almost 7 percent, to $416 million. Profit margins increased primarily because the company was able […]
