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The Finish Line Inc. had a rough holiday season as traffic and sales fell and customers flocked to lower-priced merchandise, squeezing margins. Same-store sales for the Indianapolis-based retailer fell 6.8 percent in December, CEO Glenn S. Lyon said in a conference call with Wall Street analysts this morning. The company yesterday reported third-quarter results that […]
PITTSBURGH Aluminum producer Alcoa Inc. says it’s cutting about 13 percent of its global work force and slashing spending and output due to the economic downturn. The Pittsburgh-based company says 1,700 contractors also will be cut and that it’s implementing a global salary and hiring freeze. As a result of its actions, Alcoa expects fourth-quarter […]
For this post, I turn the blog over to IBJ reporter Kathleen McLaughlin.
If you thought car salesmen had the lock on limited-time offers and blowout prices, check the blue light flashing over Hilbert Circle Theatre. The Indianapolis Symphony Orchestra is…
The Finish Line Inc. reported today that its sales fell 4.4 percent to $257 million in the third quarter, but the locally based athletic retailer still managed to reduce its inventories and narrow a quarterly loss compared to the same period last year. Same-store sales fell 3.3 percent for the chain of 700 stores in […]
Indianapolis Convention & Visitors Association has hired locally based Young & Laramore as its agency of record after reviewing proposals from 13 applicants. The ad shop will support ICVA’s internal marketing efforts, offering its advertising and branding expertise. The win is good news for Y&L, which made staff cuts in November after long-time client Steak […]
As expected, Gov. Mitch Daniels today proposed balancing the state’s next two-year budget by maintaining current spending levels on several programs while delaying funding for others. Public safety and public schools are among those that would not receive funding increases. Even so, $180 million in new money would need to be included in the budget […]
Market watchers are keeping an eye on Indianapolis-based athletics retailer Finish Line Inc. in advance of its scheduled release of third-quarter financial results late this afternoon. Analysts expect the company to post a loss of 11 cents a share; it reported a profit of $13.1 million – or 24 cents per share – in the […]
Locally based Kite Realty Group Trust has completed the sale of its Spring Mill Medical office complex in Carmel and Silver Glen Crossing shopping center in Chicago for a combined $48.5 million.After adjusting for partners’ shares, the real estate investment trust netted $23.6 million, the majority of which was used to pay down its unsecured […]
The Indianapolis Museum of Art today announced a series of cutbacks designed to trim $1.7 million from its budget due to revenue shortfalls and “significant losses” to its endowment. As of Nov. 30, IMA’s endowment was worth $278.5 million, down 27 percent from the same date in 2007. The museum is trimming expenses for the […]
Fred Glass, who officially took over as Indiana’s athletic director Jan. 2, hasn’t taken long to become ensconced in academia. Even before Glass filled the office vacated by Rick Greenspan, he sat down…
The Indianapolis Museum of Art today announced a series of cutbacks designed to trim $1.7 million from its budget due to revenue
shortfalls and "significant losses" to its endowment.
Nearly 1 million working adults in Indiana lack the skills necessary to make a living wage. Most have no college education, many didn’t finish high school, and some speak little or no English. About a year after identifying the problem in a groundbreaking assessment of the state’s adult education and work force training needs, the […]
Earlier today, the Indianapolis Museum of Art announced a series of cutbacks designed to trim $1.7 million from its budget due to “significant losses to its endowment as well as shortfalls in income generated through donations and purchases at the museum store…
Carmel insurer Conseco Inc.’s shares dropped 5.5 percent yesterday after an analyst downgraded the stock after regulators alleged that the company underfunded its policies.The stock closed the day at $4.45.New York-based Keefe, Bruyette and Woods Inc. cut its rating for Conseco and reduced its price target on the shares from $10 to $8, citing pending […]
Yes, there is some joy in Hoosierland today. And no it’s not because Pittsburgh is No. 1 in the college basketball poll. Well, actually that is the reason—kind of.
In a season that finds…
The Indianapolis Star’s decision to eliminate its business section and roll that news inside the paper’s main pages is generating mixed reactions from business and academic leaders. Changes to the Star, including the scrapping of its stand-alone, four-page business section, started yesterday and mainly are the result of declining revenue and surging newsprint prices, Star […]
Gary officials are asking a state board to increase property tax caps that limit annual tax bills for the city’s homeowners and businesses.City officials went before the state’s Distressed Unit Appeals Board Monday, seeking an exemption from the caps imposed by the General Assembly last year.Gary officials say the city may lose $30 million under […]
President-elect Barack Obama today announced plans to appoint an Indiana University law school professor to a post at the U.S. Department of Justice.A press release from Obama’s office stated, and the law school confirmed, that Obama will name Dawn Johnsen as assistant attorney general for the Office of Legal Counsel. In late 2008, she was […]
Writers’ Center of Indiana is suspending its operations after learning that it won’t get a grant it needs to meet 2009 expenses.Program Director Barbara Shoup notified writing instructors by e-mail Jan. 3 that winter and spring classes are canceled.“As you probably already know, most charitable giving organizations in the city are diverting the majority of […]
Now that Scotty’s Brewhouse has officially opened, what do you think so far of the revamped Jefferson Plaza? The original renderings are here. The…
