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Stock in Emmis Communications Corp. dropped 15 percent this morning, to $1.70, after the Indianapolis radio broadcaster and magazine publisher reported a loss greater than Wall Street expected. The Indianapolis radio and magazine publishing company said its net loss narrowed to $1.1 million in its first fiscal quarter ended May 31 from $1.9 million in […]
Forgive the randomness of today’s posting. I’m in a clearing-my-desk frenzy before taking off tomorrow afternoon for a family trip to the Jersey shore. (Thank goodness I have some LA Theatre Works plays on tape to get me through…
Ever heard of Kempton? Itâ??s a burg between Indianapolis and Kokomo that just happens to be the second-fastest
growing town in the state.
Kemptonâ??s population last year was 716, an increase of 27 percent in just one year, according to an…
By Jennifer Whitson Florida-based Sun Capital Partners continues to sell off pieces of Crystal Food Services, a division of Marsh Supermarkets. Today, locally based Copper Moon Coffee LLC announced that it has purchased Coffee Etc., a division of Crystal Food Services that supplies equipment, coffees, teas, water and flavored syrups to business and convenience store […]
By J.K. Wall Eli Lilly and Co. is contributing to a $39 million pot of money to fund a startup that will develop tools to speed discovery and development of new drugs. Lilly has joined with rivals Pfizer Inc. and Merck & Co. Inc, as well as Boston venture capital firm PureTech Ventures LLC, to […]
Toyota Motor Corp. said today it will stop making Tundra pickup trucks at its plant in Princeton and consolidate production at its new pickup plant in San Antonio. The Indiana plant, which opened 10 years ago, instead will begin assembling the Highlander mid-size sport-utility vehicle in fall 2009. Toyota planned to make the Highlander at […]
Two Indiana University friends who sold Steve & Barry’s LLC t-shirts through a company they started have sued the struggling retailer for $12,300 they say they are owed. Finance major David Modiano and Matt Kesten, a New York advertising salesman who graduated last summer, say Steve & Barry’s hasn’t paid them for “Sampsonite” t-shirts their […]
The Brett Favre saga in Green Bay had the guys on ESPN Radio yesterday morning discussing the possibility of the all-pro quarterback playing for another team next season if he comes out of…
By Norm Heikens A federal grand jury in Indianapolis has charged two more individuals in an alleged mortgage scheme, the U.S. Attorney’s Office for the Southern District of Indiana said yesterday. Timothy Hampton and Mia Weir made down payments on houses on behalf of buyers and assured the buyers that tenants would be found who […]
The Indy Racing League race July 6 at Watkins Glen drew a 1.0 overnight TV rating, meaning 1 million households nationwide tuned in, according to Nielsen Media. That is the same rating as last year. This year’s race aired on…
Carmel-based American Med-Scan has been acquired for an undisclosed price by Wells Fargo Insurance Services Inc., Wells Fargo announced today. American Med-Scan’s operations will be merged into the insurance brokerage’s local offices. The deal brings Wells Fargo Insurance operations in the state to 38 banking stores, 10 mortgage stores and 15 consumer finance stores, a regional commercial […]
By Chris O’Malley A resident of Broward County, Fla., has filed a class-action lawsuit against a Conseco Inc. unit that allegedly failed to pay the maximum benefit for home health care insurance. Anna M. Cohen, in the July 2 case in U.S. District Court for the Southern District of Florida, seeks more than $5 million […]
Carmel-based telecommunications firm Telamon Corp. announced this morning that it plans to add 250 jobs by 2012 and invest $3 million to update its local operations. The expansion would roughly double the 259 employees now at Telamon’s Carmel headquarters. The Indiana Economic Development Corp. offered $1.25 million in performance-based tax credits and up to $230,000 […]
Competition for jobs and investment has become so fierce that companies with a good growth plan are firmly
in the driverâ??s seat.
A local example is Bowen Engineering Corp., which is asking for $290,000 in incentives from Indianapolis to
move its…
Two-time NASCAR champion Tony Stewart has been granted a release from the final year of his driving contract with Joe Gibbs Racing after 10 seasons with the team. On Thursday at Chicagoland Speedway,…
By Norm Heikens A company that plans to move its headquarters from Columbus, Ohio, to the northeastern Indiana town of Angola has been based in Ohio only three years. General Products Corp. was headquartered in Jackson, Mich., until 2005, when it accepted economic development incentives to move to Columbus, according to The Columbus Dispatch. The […]
Noted curmudgeon—and very smart and funny writer—Joe Queenan recently threw down the gauntlet at contemporary classical music and those who, in his view, claim to like it.
Some notable quotes from his article “Admit It, You’re as Bored as…
Eli Lilly and Co. has agreed to spend $64 million to acquire SGX Pharmaceuticals Inc., a San Diego-based biotech firm developing cancer drugs. Indianapolis-based Lilly and SGX have been collaborating since 2003 on development of cancer drugs. SGX provided X-ray crystallography technology to determine the structure of cancer targets Lilly was trying to hit with […]
Bristol-Myers Squibb Co. has agreed to upgrade plants it operates in Evansville and nearby Mount Vernon in order to cut output of a refrigerant that depletes ozone, the Justice Department and the U.S. Environmental Protection Agency said today. The Princeton, N.J., company agreed to the improvements after discovering problems with hydrochlorofluorocarbons during an internal audit […]
A code-of-conduct committee in Australia has fined Indianapolis-based Eli Lilly and Co. $60,000 for a press release that the committee said promoted its Cialis erectile-dysfunction drug directly to the public. However, Lilly will not have to follow up with corrective ads, according to The Australian newspaper of Sydney. Lilly told the newspaper it was disappointed […]
