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General Motors Corp. will offer buyouts to all of its hourly employees as the troubled automaker continues to slash costs. GM spokesman Tony Sapienza said the buyouts will mainly target GM’s 22,000 retirement-eligible hourly employees, though any union employee can take the offer. News of the buyouts first broke on Monday, when a union official […]
A panel of government health experts yesterday said a highly anticipated Eli Lilly and Co. blood thinner marks a significant advance over older treatments and should be approved. The nine members of the Food and Drug Administration’s cardiology advisory group unanimously voted in favor of the company’s anti-clotting drug prasugrel, saying it should be approved […]
After enjoying a bump in passenger counts last year, Indianapolis-based Republic Airways posted a decline in January compared with the same period a year ago. The regional carrier said yesterday that it transported 1.3 million passengers last month, down 2.4 percent from the previous January. In 2008, Republic flew 18.9 million passengers, up 16 percent […]
Police continue to investigate a deadly crash on Interstate 69 yesterday that involved more than 30 vehicles and killed three people. The chain reaction started after a fire truck was hit by a passing car. Investigators say yesterday’s snow was an obvious factor, and some drivers were going too fast for the conditions. Two of […]
Stock prices of health insurers, including WellPoint Inc., likely will rise now that Tom Daschle has withdrawn as President Barack Obama’s nominee for secretary of Health and Human Services. At least that’s the opinion of one health care stock analyst, Les Funtleyder of Miller Tabak & Co. in New York. “In our judgment this development […]
A teenager accused of carrying out a string of bus stop robberies on the east side last month appeared in court this morning for an initial hearing. Investigators say Cameron Johnson, 17, held up students for money, cell phones and shoes. Johnson will be tried as an adult. Indianapolis police are still looking for two […]
PNC Financial Services Group Inc. said yesterday it plans to cut 5,800 jobs by 2011 – including 4,000 at Cleveland-based National City Corp., which it bought late last year. The Pittsburgh bank completed its acquisition of National City on Dec. 31. National City has 75 branches and 1,200 employees in the Indianapolis area, ranking it […]
A near-west-side business is closed today after a nitric acid spill early this morning. Firefighters and hazardous materials crews were called to Magnode Corp., 4151 W. Washington St., about 4 a.m. Firefighters say a pallet of nitric acid began to leak and caught fire when it was exposed to moisture. Crews quickly put out the […]
Bloomington lost out on a new IBM data processing center that could have employed up to 1,300 people in the Monroe County city. The city was a finalist for the project, but officials learned Monday that the company instead chose Dubuque, Iowa. State officials there offered an incentive package totaling $52 million. It was not […]
Investment losses overshadowed an increase in premiums written by Indianapolis insurer Baldwin & Lyons Inc. last quarter, dropping its profit to $100,000 despite operating income of $7.8 million. The company posted investment losses of $7.7 million, which it attributed to global market woes. Its 1-cent-per-share profit compares to $1.34 posted in the fourth quarter of […]
Entertainment giants Ticketmaster Entertainment Inc. and Live Nation Inc. are talking merger, The Wall Street Journal reported today, citing unnamed sources familiar with the deal. If it goes through, the merger would combine two powerful forces in the music industry. Ticketmaster has a stranglehold on event ticketing, and Live Nation dominates concert promotion. The companies’ […]
Art conservators are like Santa’s elves, working anonymously and unseen on objects that bring great joy to other people. But instead of toys, conservators concentrate on the paintings and objects that can make their museums renowned. So the excitement in Conservator-in-Charge David Miller’s voice wasn’t surprising after he learned yesterday that the Indianapolis Museum of […]
Should libraries be charging for the hottest materials?
The Dallas Public Library thinks so. It’s slapped a $5 surcharge on a short list of bestsellers and new-release DVDs. You can find more details here.
A slippery slope or a smart move?
And,…
A proposed closure of Grande Avenue in Speedway has more than a few Gasoline Alley businesses riled up. Allison Transmission—which has plants on both sides of Grande Avenue just south of 10th Street—along with the Speedway Redevelopment Commission, has requested…
The organic food industry is in an uproar over concerns that organic fertilizer may have been spiked with
synthetic versions.
Last month, FBI and federal agriculture officials searched a California organic fertilizer factory, but wouldnâ??t
disclose their motive. The…
The Turtles crooned that they were “so happy together.” But Cook Medical is thinking just the opposite. It has split its interventional devices business into two units, pulling its lesser-known cancer products out from under the shadow of its heart products, such as metal stents and angioplasty balloons used to prop open arteries. Cook hopes […]
PNC Financial Services Group Inc. said yesterday it plans to cut 5,800 jobs by 2011 – including 4,000 at Cleveland-based National City Corp., which it bought late last year.The Pittsburgh bank completed its acquisition of National City on Dec. 31. National City has 75 branches and 1,200 employees in the Indianapolis area, ranking it the […]
Defense contractor ITT Corp. plans to locate a new avionics repair and testing facility at the Crane Naval Surface Warfare Center southwest of Bloomington, creating more than 220 jobs within six years. ITT’s Electronic Systems business, based in Clifton, N.J., will invest more than $10 million to develop a regional electronics repair and evaluation hub […]
Some major foundations in central Indiana are narrowing grantmaking criteria so they can funnel their reduced asset streams toward pressing needs brought on by the recession. “This is not the year to be wide open,” Central Indiana Community Foundation President Brian Payne said. Two major funds under the CICF umbrella, the Indianapolis Foundation and the […]
