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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 […]
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 today that the Indianapolis Museum of […]
Eli Lilly and Co. has won the unanimous backing of an advisory panel to introduce the first rival to the blood-thinner Plavix, the world’s No. 2-selling drug, Bloomberg News reported. Advisers to the U.S. Food and Drug Administration voted 9-0 today in Silver Spring, Md., that Lilly’s blood thinner prasugrel should be approved to reduce […]
There were some interesting revelations during an Indy Racing League press conference today to discuss the on-going Automotive Manufacturers Roundtables designed to bring about expanded engine manufacturer participation and to help define a…
General Motors’ U.S. vehicle sales plunged 49 percent in January while Ford’s sales dropped 40 percent, starting 2009 at an abysmal pace for the auto industry as lower sales to fleet buyers like rental car companies weighed down U.S. automakers’ results. Japanese rival Toyota’s sales dropped 32 percent for the month, and Honda’s sales fell […]
By DAN STRUMPF AP Auto Writer NEW YORK General Motors Corp. will offer buyouts to all of its hourly employees, a spokesman confirmed Tuesday, 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. […]
Indy Racing League officials say five engine manufacturers are still in competition to provide new engines for the IRL. The companies still in discussions with the Indianapolis-based league are Honda, Audi, Fiat, Porsche and Volkswagen. Honda has been the sole supplier of Indy V8 engines since 2006. New specifications are not expected to be finalized […]
Nineteen small businesses from across the state, including two in Indianapolis, received inaugural Economic Development through Entrepreneurship awards today. Sponsored by the Indiana Economic Development Corp.’s 10 regional small-business development centers, the awards recognize client companies that are both established and emerging. Indianapolis-based Safis Solutions LLC, which provides regulatory-compliance and quality-assurance management to pharmaceutical and […]
Cummins Inc. is bracing for a rocky 2009 after reporting a 55-percent plunge in fourth-quarter profit this morning. The Columbus engine maker reported earnings of $89 million, or 45 cents a share, down from $198 million, or $1 a share, in the same period a year ago. Fourth-quarter sales fell 6 percent, to $3.3 billion, […]
