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The Indiana House Ways and Means Committee has endorsed a bill to fund local road projects. The bill, which was approved on a 15-8 party-line vote, would give $800 million from the lease of the Indiana Toll Road to cities, towns and counties. Democrats say the bill would create thousands of new jobs, but critics […]
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, […]
WellPoint Inc. intends to use proceeds from a $1 billion bond sale to buy more of its own stock and repay short-term debt. The Indianapolis-based health insurer sold $400 million of five-year bonds and $600 million in 10-year bonds, according to securities filings. The bonds pay interest of 6 percent and 7 percent, respectively. The […]
How successful were the GoDaddy ads aired on TV during the Super Bowl? That depends on who you ask. Some panned, while other praised the two ads featuring Indy Racing League driver Danica…
A prominent Meridian-Kessler building at the corner of 49th and Pennsylvania streets has a new owner nearly a year-and-a-half after it first went up for sale. A group of local investors, led by Bryan Chandler of Eclipse Real Estate and Greg Rankin and John Bales of Venture Cos., purchased the 12,000-square-foot Hamaker Corner building in […]
I know I’m not alone among Indianapolis arts lover in taking occassional trips to Chicago for a change-of-venue cultural fix. So I like to keep an eye on the news up there.
Well, the Chicago Tribune recently reported on some…
Cummins Inc. this morning reported its fifth consecutive year of record sales and profits, then promptly lowered its expectations for 2009. The Columbus engine maker expects sales this year to be about 20 percent lower than the $14.3 billion recorded in 2008; it said earnings before interest and income tax expenses should amount to about […]
Indianapolis-based Dow AgroSciences was a bright spot in an otherwise gloomy fourth quarter for parent Dow Chemical Co. Although Dow today reported a fourth-quarter loss of $1.6 billion on sales of $10.9 billion – down from a $472 million profit and $14.2 billion in sales the prior year – its agricultural sciences segment posted record […]
A study by Indiana University’s Bowen Research Center says secondhand smoke cost the state $390.3 million in excess medical expenses, or about $62 per person, in 2007. The center, part of IU’s School of Medicine, conducted the study for the Indiana Department of Health’s Smokefree Indiana campaign and the Indiana Tobacco Prevention & Cessation Agency. […]
The Baskin-Robbins ice cream chain hopes to add more than 50 new franchise locations in the Indianapolis area as part of a nationwide expansion. The Massachusetts company today announced plans to sell new franchises in major cities including Indianapolis, Houston and Atlanta. Only 10 of its 2,700 locations worldwide are in Indiana. The privately held company […]
Enrollment at Indiana University’s eight campuses for the spring semester reached a record of 97,155 students, an increase of 3,754, or 4 percent, from last spring’s total, the university announced today. IU East in Richmond showed an almost a 10-percent increase over the previous spring semester. IU Bloomington’s enrollment increased 3.3 percent and IUPUI’s rose […]
More than 600 people who work for two recreational vehicle companies in northern Indiana’s Elkhart County are being laid off because of the troubled economy. Keystone RV Company in Goshen announced it is consolidating operations and downsizing its work force by about 350 employees through April. Keystone plans to close several of its plants, including […]
Columbus engine maker Cummins Inc. said today it has offered voluntary retirement packages to 700 hourly employees in Indiana as it looks to trim as many as 350 more jobs. Cummins, which reports fourth-quarter earnings tomorrow, has suffered from a drop in demand for its diesel engines and related products. Since October, it has taken […]
Winter storms that crippled parts of the Midwest recently prompted Emmis Communications Corp. CEO Jeff Smulyan to again call on cell phone manufacturers to install radio receivers in their units. If cell phones had FM receivers, Smulyan argued, radio stations could have served an even wider audience searching for updates on the weather, road conditions […]
Eli Lilly and Co. got good news and bad news Friday. The same day U.S. regulators recommended Lilly’s blood thinner prasugrel for market approval, one of the Indianapolis pharmaceutical company’s partners reported poor clinical results for one of its most promising drugs. Canada-based BioMS Medical Corp. said its lead drug for treating relapse remitting multiple […]
Indianapolis police are still looking for a man who opened fire in a nightclub parking lot early yesterday, injuring five people. The incident happened at about 2:30 a.m. at King of Clubs near Ritter Avenue and Brookville Road. Officers say some patrons were gathering for a birthday party when a fight broke out. According to […]
Winter storms that crippled parts of the Midwest recently prompted Emmis Communications Corp. CEO Jeff Smulyan to again call on cell phone manufacturers to install radio receivers in their units. If cell phones had FM receivers, Smulyan argued, radio stations could have served an even wider audience searching for updates on the weather, road conditions […]
NBC sold out its 69-spot advertising inventory for yesterday’s Super Bowl, pushing total ad revenue for the event to a record $206 million – not bad in the middle of a recession. The Super Bowl is a premier advertising event with an U.S. audience of 100 million viewers, many of whom watch closely during game […]
Two unemployed Hoosiers have earned $1 million for creating the Super Bowl’s top-ranked commercial. Joe and Dave Herbert of Batesville won the third-annual Doritos “Crash the Super Bowl” challenge and earned high marks from viewers. Their ad features a man predicting free Doritos for his co-workers, then breaking a vending machine with a crystal ball. […]
Thousands of southern Indiana residents are still without power following last week’s winter storm. Vectren reports 20,000 outages as of last night, mostly in the Evansville area. More than 100,000 customers were left without electricity as a result of the storm. Vectren officials say most power should be restored by Thursday, though isolated outages could […]
