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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 […]
The Nature Conservancy is finalizing plans for its new $4.4-million headquarters at 620 E. Ohio St. downtown. The not-for-profit group is planning a two-story, 20,000-square-foot…
An Elkhart manufacturing plant slated for partial closure last year will be shuttered on a permanent basis due to “adverse business conditions,” according to a notice filed with the state late last week. Michigan-based Continental Automotive Systems US Inc. said it will close the 119-employee electrical systems plant beginning March 31; it will stagger the […]
Federal health regulators are looking into evidence that an Eli Lilly and Co. drug used to treat blood poisoning worsens the risk of bleeding and can lead to death in certain patients. The Food and Drug Administration said today a recently published study showed that the Indianapolis-based company’s drug Xigris increased the risk of dangerous […]
Indiana Department of Transportation Commissioner Karl Browning submitted his resignation today 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 Feb. 16 and work with Browning on the transition […]
Unemployment rates rose in 98 percent of U.S. metropolitan areas late last year, with manufacturing layoffs driving the largest annual increases in Indiana’s Elkhart-Goshen region and Dalton, Ga. The Labor Department said today that jobless rates climbed in 363 of the largest 369 metropolitan areas in December from a year earlier. Elkhart-Goshen’s unemployment rate soared […]
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 […]
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 […]
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 […]
The state House’s Public Policy Committee will hear testimony today on a bill that would completely ban smoking in bars, restaurants, casinos and other public places throughout the state. Some local bar and restaurant owners have expressed concern about what a smoking ban would mean for business. Meanwhile, supporters of bill are pointing to a […]
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 […]
