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Cleveland-based National City Corp., the second largest bank in the Indianapolis area, has agreed to sell itself to a Pittsburgh bank in an all-stock deal that values National City at just $2.33 per share.The $5.6 billion deal with Pittsburgh-based PNC Financial Services Group Inc. will create the nation’s fifth-largest bank by deposits and fourth-largest by […]
Today, some random notes from around the arts world:
–Chris Jones at the Chicago Tribune has an interesting item today about customer service in theaters. See it here. Have you had any overwhelming negative or positive experiences from the front-of-the-house…
The Indy Racing League is being greeted with much fanfare in Australia this week, but it remains doubtful the open-wheel series will return to race at Surfer’s Paradise next year.
The first two days…
Wall Street headed for another precipitous drop today as fears of a punishing global recession stirred panic among investors and sent world financial markets into a tailspin. The Dow Jones industrial average futures were down 550 points, triggering a freeze in selling.The massive decline was caused by increasingly grim news from overseas. In Japan, shares […]
As the economy slows and money gets scarce, banks arenâ??t the only organizations that should consider merging.
Thatâ??s how United Way of Central Indiana CEO Ellen Annala sees the landscape.
The Indianapolis area has a whopping 16,000 not-for-profits, she says, one for…
Conseco Inc. expects its improving profits from operations to be overwhelmed by investment losses when it reports its third-quarter results next month. The Carmel-based insurance company, in a preliminary report, said it expects quarterly operating profit of $53 million to $59 million before investment losses, a rebound from last year’s third quarter loss of $22 […]
One of the internal candidates to replace Community Health Network CEO Bill Corley has resigned to take a new job. Mark Dixon will leave Community on Nov. 14, the Indianapolis not-for-profit hospital organization announced yesterday. Dixon essentially was the No. 2 officer at Community, overseeing its three Indianapolis hospitals. Dixon, who joined Community Health Network […]
While presidential contender Sen. Barack Obama was campaigning for “change” eight blocks away at the American Legion Mall today, Ford Motor Co.’s VP of sales and marketing was in Indianapolis in a campaign of sorts at the National FFA Organization convention. Kenneth Czubay arrived downtown to accept an award from the Indianapolis-based organization on behalf […]
A study released yesterday by the Greater Indianapolis Chamber of Commerce and the Metropolitan Indianapolis Board of Realtors shows widespread interest in expanding mass transit in the area. More than three of four respondents in all nine counties surveyed – even largely rural Hancock and Shelby – said they saw a need for improved mass […]
Indianapolis-based passenger carrier Republic Airways Holdings Inc. said today it has agreed to loan US Airways Group Inc. as much as $35 million. Republic offered an initial, $10 million loan, on Oct. 20, and has made available an additional $25 million in the first quarter of 2009. Republic flies smaller jets for US Airways, headquartered […]
Stock in ITT Educational Services Inc. shot up 6.7 percent this morning, to $77.67 a share, after the Carmel-based technical school operator reported a 26-percent increase in third quarter profit. Net income rose to $50.2 million, and enrollment of new students soared more than 19 percent above the same period last year, as students returned […]
IU basketball coach Tom Crean is turning out to be quite a recruiter. And I’m not talking about basketball. Crean, who has already been named to the committee responsible for finding a short…
This is the time of year that otherwise respectable news outlets begin publishing or broadcasting stories about haunted houses–not just the “guy jumps out at you with a chainsaw” haunted houses but also the allegedly real ones.
Problem is, many of…
An influx of students going back to school in sluggish economic times drove third-quarter profit 26 percent higher for ITT Educational Services Inc., the Carmel technical school operator reported today. Profit shot to $50.2 million, and enrollment of new students soared more than 19 percent from the same period last year. The $1.28 in earnings […]
On the day FatHead officials announced a deal that would make safety Bob Sanders the fourth Indianapolis Colts player the focus of one of their life-sized wall stickers, Tennesse Titans heas coach Jeff…
Indianapolis-based Dow AgroSciences churned out $61 million in profit in the third quarter on soaring global demand for its agricultural chemicals and seeds and its success in charging higher prices. The figure included a $27 million charge for acquisition costs and hurricane damages. Dow AgroSciences reported a $15 million profit in the same quarter last […]
Eli Lilly and Co.‘s settlement of Zyprexa litigation sent it to a $466 million loss during its third quarter. But the Indianapolis-based drugmaker exceeded expectations of Wall Street analysts. Lilly spent nearly $1.5 billion to settle a 32-state probe into its marketing and disclosures about Zyprexa, an antipsychotic that is the company’s bestselling drug. It […]
The group that controls Bloomington Hospital voted overwhelmingly last night to continue merger discussions with Indianapolis-based hospital giant Clarian Health. The Local Council of Women opted 316-105 against a resolution that would have rescinded a vote taken by the council on June 16, according to The Herald-Times of Bloomington. That vote, which passed 403-149, cleared […]
Waves of layoffs are going to hit the country as banks tighten lending and companies cut costs, BusinessWeek
predicted in an article this week.
Unlike the dot-com and housing busts of recent years, this time just about every industry…
