Axia Urban pitches live-work
Local developer Axia Urban is planning a three-building project that would give the corner of 22nd and Talbott streets a whole new look. The plans, submitted by…
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Special charge hammers Conseco profit
Conseco Inc. recorded a massive second quarter loss because of a $500 million accounting charge from a proposed spin-off of its long-term care business. Absent that special charge, the Carmel-based insurer would have swung to a profit compared with a loss in the same quarter a year earlier. For the three months ended June 30, […]
Noble Roman’s profit plummets
A sluggish economy and stiffer enforcement of franchise agreements resulted in second-quarter profit plunging 44 percent for Noble Roman’s Inc., the Indianapolis restaurant chain announced late yesterday. Noble Roman’s generated $395,307 in net income compared with $703,506 a year earlier. Revenue dived to $2.4 million, from $3.1 million. The company attributed most of the weaker […]
Amazon to open second Indy-area warehouse
Amazon.com will open a 950,000-square-foot warehouse in Airtech Logistics Park in Plainfield, the Indiana Economic Development Corp. announced late yesterday. The online retailer will hire more than 350 workers by 2011. Amazon in March committed to opening a 600,000-square-foot warehouse with 1,200 jobs in the Boone County community of Whitestown, and also plans to put […]
Mayor: budget cannot eliminate arts
And so the Indianapolis arts community exhales. There’s still $1 million in the budget and there’s less chance of our town being seen as culturally regressive.
But what’s the underlying message from Mayor Ballard’s budget speech?
Is it simply that cuts have…
Enzon Pharmaceuticals might sell Indy facility
By Norm Heikens An Indianapolis plant that manufactures specialty drugs might be sold, its parent announced yesterday. Enzon Pharmaceuticals Inc., based in Bridgewater, N.J., said it might sell the plant or one or all of its products as part of a strategic review of its specialty pharmaceutical business. The plant at 6925 Guion Road on […]
Hundreds turn out for White auction
More than 1,000 people from nine states attended an auction Saturday of hundreds
of items seized from Christopher P. White, the founder of bankrupt developer Premier Properties USA Inc.
UPDATE: Conseco shares jump after report
Stock in Conseco Inc. moved up more than 8 percent today after the Carmel-based insurer announced that it would take a $1.2 billion hit to split off its troubled long-term care business as an independent entity owned by policyholders. The shares traded near $8.32 per share. Conseco Senior Health Insurance Co. will be transferred to […]
Armstrong replaces Long in IU tech transfer
Indiana University officials didn’t have to look far for the new CEO of IU’s Research & Technology Corp. Named to the position late last week, Tony Armstrong has a history with the corporation dating back more than a decade. He was its associate director from 1997 to 2000 and has led the organization on an […]
Indiana could land $100M to jumpstart housing
Indiana might be in line for a lot more than the $20 million minimum each state will be allocated as part of the housing stimulus initiative signed by President Bush on July 31, according to a new IUPUI study. The Center for Urban Policy and the Environment estimates Indiana could receive $80 million to $100 […]
Utilities plan $1B electric line project
Columbus, Ohio-based American Electric Power and Charlotte, N.C.-based Duke Energy plan to build 240 miles of transmission lines between Greentown Station near Kokomo and the Rockport generating plant east of Evansville. The $1 billion project requires regulatory approval and wouldn’t be completed until 2014 at the earliest, the utilities said today. The utilities say the […]
St. Vincent, Women’s hospitals snag $1.4M
St. Vincent Indianapolis and Women’s hospitals have received a $1.4 million gift from the estate of a surgeon who practiced at the hospital for decades. Dr. Robert F. Nagan’s gift is the largest ever by a physician to the hospital. About $375,000 went toward a new continuing care nursery at St. Vincent Women’s Hospital. The […]
You-review-it Monday
For me, the weekend was bookended with a Friday trip to Bloomington to see singer Maureen McGovern backed by IU musicians and a Sunday run to Beef & Boards for the opening of The “Producers.”
What did you see, hear, read…
Do you demand a 401(k)?
Corporations are boosting 401(k) plans even as they abandon traditional pension plans.
Workers are getting automatic enrollment, more investment options and greater contributions from employers.
Employees want 401(k)s, and theyâ??re good for business, companies say. In fact, companies without 401(k)s…
Conseco taking $1.2B charge to unload unit
Conseco Inc. will take a $1.2 billion hit to split off its troubled long-term care business as an independent entity owned by policyholders. The Carmel-based insurance company announced plans this morning to transfer Conseco Senior Health Insurance Co. to an independent trust based in Pennsylvania. The deal, which requires approval by Pennsylvania insurance regulators, is […]
Arcadia posts $3.3M loss as revenue falls
Arcadia Resources Inc. narrowed its losses during its fiscal first quarter. The Indianapolis-based home health care company lost $3.3 million in the period ended June 30 compared with a $3.7 million loss in the same quarter last year. The loss of 2 cents per share was worse than the breakeven anticipated by the sole analyst […]
Editorial slams Daniels, Long Thompson on jobs
The Truth in Elkhart yesterday criticized Gov. Mitch Daniels and his challenger in this year’s election, Jill Long Thompson, for inadequate plans to boost economic development in north-central Indiana. In an editorial yesterday, the newspaper chided Daniels for claiming to have creating the best business environment in the Midwest even as the core recreational vehicle […]
Fuel prices driving layoffs, closings
Nearly half the layoff and closing notices registered with the Indiana Department of Workforce Development this year have involved car and truck parts manufacturers, companies making mobile homes and recreational vehicles, and businesses involved in air service. The common thread across the industries is rising fuel prices, according to The Times of Munster. More than […]
Nestle plans expansion announcement Tuesday
Nestle, the Swiss food and beverage giant that opened a plant in Anderson in May to manufacture and distribute its Nesquik and Coffee-Mate drinks, is likely to announce an expansion of the plant tomorrow, according to The Herald Bulletin. In June, Nestle asked the city Board of Zoning Appeals to allow a 260,000-square-foot expansion in […]
Lilly taps hedge fund to cut research costs for Alzheimer’s drugs
Eli Lilly and Co.’s unorthodox efforts to develop new treatments for Alzheimer’s disease–if successful–could usher in
a new approach to drug development. The Indianapolis-based pharmaceutical company announced that a New York
hedge fund, TPG-Axon Capital, will invest up to $325 million to help cover the exorbitant development costs
of two experimental compounds to treat Alzheimer’s disease.