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Auto parts maker Remy International Inc. said yesterday that it turned in a $4.3 million profit in the third quarter, a stark contrast to the $39.3 million loss of a year earlier. Sales for the Pendleton company increased 1.5 percent to $279.4 million. A decline in sales to General Motors Corp. was offset by sales […]
Mark Cuban, the Indiana University alumnus who owns the Dallas Mavericks, said this afternoon that accusations of insider trading leveled against him earlier in the day by the U.S. Securities and Exchange Commission are false. Cuban said in a statement posted on his Web site, www.blogmaverick.com., that he will contest the allegations, calling them “a […]
Every once in a while, I’ll turn the blog over to reporter Kathleen McLaughlin, who is now covering the arts business beat for IBJ. Welcome her aboard and look for her writing here and in the print edition of IBJ.
Take…
In a sign of financial challenges ahead, the Indianapolis Symphony Orchestra yesterday reported a 1-percent budget shortfall for the fiscal year ended Aug. 31. Expenses exceeded revenue by $293,000, or 1 percent of the $26.8 million budget. CEO Simon Crookall said income from ticket sales and contributions did not keep pace with rising expenses for […]
City Securities Corp. has named Mark Miles to its board. Miles, 55, is CEO of Central Indiana Corporate Partnership, a not-for-profit that advocates economic-development strategies on behalf of corporate executives and university presidents. He also chairs the 2012 Super Bowl Host Committee. City Securities is a securities brokerage headquartered in Indianapolis.
Honda Manufacturing of Indiana said today that its new assembly plant in Greensburg will make a small number of Civic sedans that operate on natural gas. The plant, which opened a month ago and staged a dedication this morning, is projected to produce 800 conventional gas-burning Civics a day. Assembly of the “GX” natural gas […]
Two schools of thought are emerging over the proposed bailout of General Motors, Ford and Chrysler.
One is that the auto industry is too big to fail. Itâ??s not just because of the manufacturing operations
and all the suppliers…
Getrag Group is blaming a deal gone bad with Chrysler LLC for bankrupting a subsidiary the German transmission manufacturer formed to build and manage a $530 million plant in Tipton. Officials in Getrag’s U.S. headquarters in Sterling Heights, Mich., filed for bankruptcy protection in Detroit this morning for its Getrag Transmission Manufacturing LLC unit, stating […]
Car and motorcycle dealerships owned by Russell J. Dellen before his death will continue under family ownership, according to one of his sons, Nick Dellen. Russ Dellen, who died of a heart attack on Nov. 8 at age 56, owned two car dealerships in Greenfield – one handling Buick, Chevrolet, GMC and Pontiac brands, and […]
Mark Cuban, the Indiana University alumnus who owns the Dallas Mavericks, has been accused of insider trading by the U.S. Securities and Exchange Commission. The charge involved a 2004 trade of 600,000 shares of Mamma.com Inc., an Internet search engine company that now is part of Canada-based Copernic Inc., according to a statement on the […]
Indianapolis Star sports columnist Bob Kravitz is making good on his promise to walk to Kokomo if Indiana Pacers guard Jamal Tinsley was still on the roster come the opening of the NBA…
Getrag Group is blaming a deal gone bad with Chrysler LLC for bankrupting a subsidiary the German transmission manufacturer formed to build and manage a $530 million plant in Tipton. Officials in Getrag’s U.S. headquarters in Sterling Heights, Mich., filed for bankruptcy protection in Detroit this morning for its Getrag Transmission Manufacturing LLC unit, stating […]
Eli Lilly and Co. has licensed the U.S. rights to commercialize its drug Cialis to treat high blood pressure in the pulmonary artery to United Therapeutics Corp., a Maryland-based biotech drug firm. Indianapolis-based Lilly will buy $150 million of United Therapeutics’ common stock, but also receive a $150 million upfront payment from United Therapeutics, according […]
Before I get to the regular portion of the Monday blog, I’d like to take a moment to note with sadness the death of Matthew Oskay, director of the Warren Performing Arts Center. Matt, 30, was one of our town’s four arts…
Quadraspec Inc., a West Lafayette life sciences firm backed by venture capital investors, has laid off about a dozen workers, according to The Journal and Courier of Lafayette. Founder and CEO Chad Barden said financial strains on Wall Street are forcing venture-backed companies like Quadraspec to become lean and profitable. Quadraspec, started in 2004 with […]
Marian College will name its new $6.8 million athletic facility St. Vincent Health Field after the Catholic hospital system pledged money to allow the start of a second phase of building. St. Vincent’s gift amounted to “six figures,” Marian spokeswoman Andrea Fagan said. She said St. Vincent did not want to reveal the exact amount. […]
The Indianapolis Museum of Contemporary Art, the Indianapolis-Marion
County Public Library and the Indianapolis Opera have come together to produce "Hansel & Gretel: Lost in the
Arts."
The Indiana Council for Economic Education is a nonprofit, working to increase economic literacy throughout Indiana.
Marion County hospital systems anticipate more mergers, possibly with each other.
