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Roche Diagnostics announced late this afternoon that it was transferring 300 local jobs to Germany. The company, which employs 2,800 locally, said moving the jobs-most of which are in operations and R&D-makes sense because similar positions already are there. Swiss-based Roche makes pharmaceuticals and medical equipment. The jobs are expected to shift to Germany over […]
Thanks to its improved efficiency, manufacturing is in much better shape in Indiana than conventional wisdom suggests, a new study says. The state is holding its own in workers employed in the sector, said the study, sponsored by Conexus, an Indianapolis-based not-for-profit that promotes manufacturing and logistics. Moreover, Indiana manufacturing workers are among the most […]
WellPoint Inc. has won a contract to administer the Medicare program in New York and Connecticut, a deal worth up to $323 million over five years, the company announced today. The Indianapolis-based health insurer will perform key Medicare administrative functions, for its contracts with hospitals, nurses and physicians, including appeals, reimbursement, claims processing, medical review […]
Emmis Communications Corp. today said it has signed an agreement to sell Fox affiliate WVUE-TV in New Orleans for $41 million to Louisiana Media Co. LLC, which is principally owned by Tom Benson, owner of the New Orleans Saints. After-tax proceeds are expected to be about $35.5 million, Emmis officials said. In addition, Emmis will […]
In his five years as executive director of the United Nations World Food Programme, Jim Morris saw global
hunger from an uncomfortably close vantage point.
So, one might expect him to criticize the idea of turning corn and soybeans into alternative…
A key company in Elwood closed abruptly on Friday, pushing 60 to 70 people out of jobs. State Plating, which coated steel with nickel, had been in business in the town north of Fishers since 1962. The company didn’t respond to messages from The Herald Bulletin of Anderson, but the newspaper said the rising cost […]
About a year ago, on a previous trip to NYC, I happened to be in town with a free Sunday evening. That’s usually not the most happening time in any town, but I knew there had to be something outstanding…
The topic of health care sparked the most spirited comments from business leaders interviewed by IBJ ahead of the May 6 presidential
primary. When asked whether they thought Barack Obama or Hillary Clinton would be better for business, executives in manufacturing,
exporting, computer technology, logistics and education largely demurred.
Since its founding 17 years ago, Indianapolis-based Harlan Bakeries LLC has built its reputation, and its fortune, on making
bagels. Untold millions of bagels. Considering the number of conventional treats Harlan turns out, it might be easy to overlook
its newest project: producing a non-medical “diet cookie” for Boca Raton, Fla.-based Smart For Life Weight Management Centers.
Some high-tech companies are so risky that even venture capitalists quiver. That’s when they turn to angels, who aren’t afraid to fly to the rescue of cash-strapped innovators with chancy yet possibly lucrative ideas. Last year, two dozen of central Indiana’s most successful business veterans decided to intercede on behalf of Hoosier entrepreneurs. They formed HALO Capital Group, a network of angel investors who seek to speculate on promising Indiana startups. Every other month, the HALO group meets at a…
Cynthia Cyphon called me for “insights” on the latest county statistics released by the Bureau of Economic Analysis. “So what’s doing with these numbers?” she asked. “I see Hamilton County, the state’s wealthiest county, is not anymore.” I went out on the deck with my lapdog and my laptop. This was going to be a long phone conversation. “Cynthia, get your head around this,” I said. “Per-capita personal income is used widely as an indicator of economic wellbeing. That’s why…
A little bit of history before I get to the specifics of American Cabaret Theatre’s production of “Victor/Victoria”: The movie on which it is based, concerning a woman who finds success-and romantic complications-pretending to be a female impersonator, proved a surprising cinematic hit for actress Julie Andrews and her director/husband Blake Edwards in 1982. Thirteen years later, again directed by Edwards, the movie was turned into a musical for Andrews, who hadn’t been on Broadway since “Camelot” in 1963. The…
If you’re thinking about selling your company, you’ll get no further than typing your first Google search when the term “private equity” pops up and maybe to a fifth Google search when the term “strategic buyer” appears. Private equity firms seem to be everywhere these days. These funds are growing larger, going public and making (or failing to make) ever larger acquisitions. With the increased visibility, the reputations of private equity firms are still based largely on stereotypes. Think unfair…
Four years ago, attorney Greg Maurer decided he wanted to try his hand at venture capital. So he began calling everyone he knew in Indianapolis for help. It took several years. But eventually, Maurer attracted a team of experienced venture managers to his side. He also assembled two expert boards: one filled with scientists to help analyze the technical side of new business plans, and another composed of veteran investors to consider their market potential. Maurer, 31, is the son…
In this curious primary season, Indiana finds itself the brief center of attention as Sens. Hillary Clinton and Barack Obama invest time and treasure in the crossroads of America. The strongest focus in both their campaigns is my favorite subject-the economy. Both candidates bemoan the poor Hoosier economy, its job losses and income inequality. This would be a superb campaign approach for both candidates, except that their claims are wholly, totally and embarrassingly devoid of facts. Indiana’s economy is doing…
There are many things I do not understand. I don’t understand why a golf gallery must remain “pin-drop” silent while a person hits a ball that sits stationary on a tee, yet fans can scream at the top of their lungs while a batter tries to hit a ball coming toward him at 95 miles per hour. I also don’t understand how economists take massive amounts of conflicting economic data, input the statistics into a model, and, presto, out comes…
Domestic automakers were already scheming about new ways to chop dealers–cutting costs to service them–as their market share
drained to Toyota and other foreign competitors. Now, an economy standing on the brakes could drive another round of dealer
consolidations that might not be a good deal for family-owned peddlers of metal.
An Indianapolis firm helping oversee construction of the city’s $1.2 billion midfield terminal is facing accusations from
Southwest Airlines that it failed to ensure the quality of a $12.4 million concrete apron at Long Island MacArthur Airport.
In 2002, Indiana ranked an anemic 37th among all states in the amount of total venture capital investment. That year, California had 41 times the investment of Indiana on the basis of per dollar of gross state product. Indeed, few local entrepreneurs or finance professionals could identify more than a couple of Indiana-based VC funds. Few national venture funds even visited Indiana companies as they flew over the Hoosier state on their way between the coasts. As I learned while…
There are professions in which you are never noticed until you screw it up-the center of a football team when he snaps the ball over the quarterback’s head, the business assistant when he or she brings the wrong set of papers to the closing, and the bus driver who-after 20 years of safe driving-rear-ends the rock star’s limousine. Included in this list is the CEO of the Indiana Bureau of Motor Vehicles. Do you remember Joel Silverman, former commissioner of…
