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Eli Lilly and Co. confirmed this evening that it will abandon its inhaled insulin program, citing increased uncertainties about its commercial potential and the regulatory environment. The decision will cost Lilly $90 million to $120 million, or from 5 to 7 cents per share. The Indianapolis-based drugmaker now expects to per-share profit of $3.73 to […]
UPDATE (March 11): The Chicago Tribune and Street & Smith’s Sports Business Journal are reporting today that officials for Comcast Cable and the Big Ten Network are closing in on an agreement to put the channel on an expanded basic tier. One…
Fourth-quarter profit fell nearly 70 percent for FinishMaster Inc., the Indianapolis company that distributes auto paint and other products to body shops. The $2.4 million profit was down from $7.6 million a year earlier, partly because the year-ago period benefited from the settlement of a lawsuit, FinishMaster said today. After taking out the settlement, profit […]
Fourth-quarter profit fell nearly 70 percent for FinishMaster Inc., the Indianapolis company that distributes auto paint and other products to body shops. The $2.4 million profit was down from $7.6 million a year earlier, partly because the year-ago period benefited from the settlement of a lawsuit, FinishMaster said today. After taking out the settlement, profit […]
An activist investor in locally based Steak n Shake Co. declared victory this afternoon in a proxy battle for two board seats. The Lion Fund of Texas released a statement after today’s annual meeting saying that “an overwhelming majority” of shareholders supported its effort to turn around the struggling restaurant chain. But Steak n Shake […]
What do you think of the proposed replacement for a one-story, township-owned structure on Mass Ave? (Click for a larger version.) The $9 million plan, proposed by…
Yesterday the Indiana Repertory Theatre announced its 2008/2009 season and while it’s clearly too soon to pass any judgments – or make accurate predictions – I have to admit that the optimist and the pessimist in me had a field…
Allied Waste Industries Inc. said this morning it will establish a customer service center in Morocco, Ind., and add 350 jobs within six years, according to the Indiana Economic Development Corp. The center is the result of the Phoenix-based company’s decision to consolidate its regional customer support operations into a centralized location. It will support […]
The company helping Eli Lilly and Co. develop inhaled insulin said it expects Lilly to scuttle the project next week. Massachusetts-based Alkermes Inc. said in a news release this morning that Lilly officials have told the company they are evaluating the business prospects for inhaled insulin, called AIR Insulin. Alkermes’ statement said company officials are […]
Officials in Greenwood and Franklin want Johnson County to consider implementing a hotel tax, reports the Daily Journal of Franklin. The money would be used to create a convention and visitors bureau. The tax, which likely would be as high as 5 percent, wouldn’t happen before next year because the current legislative session is set […]
Carlyle Capital Corp. Ltd., a unit of Carlyle Group, a Washington D.C.-based private equity group, did not meet banks’ margin calls on its $21.7 billion portfolio, according to several news services. Last fall, Carlyle Capital bought Allison Transmission in Indianapolis from General Motors Corp. for $5.6 billion. Carlyle Capital has received several notices from banks […]
Allied Waste Industries Inc. will announce this morning that it plans to remodel a site at Morocco, Ind., and add 350 customer service jobs within six years, according to The Journal & Courier of Lafayette. Morocco is between Lafayette and Merrillville in northwest Indiana. Allied Waste, headquartered in Phoenix and traded on the New York […]
Developer Stephen Alexander isn’t fazed by a zoning setback for his $67 million West Merrill Tower. The Metropolitan Development Commission denied his request to vacate an alley…
Champ Car Wednesday filed Chapter 11 bankruptcy, igniting what could potentially be a bidding war for its assets. The Indy Racing League last month agreed to acquire certain assets of Champ Car, but the bankruptcy court could open things up….
Guidant Corp. investors have lost a class-action lawsuit that claimed Guidant executives hid knowledge of defects in the corporation’s heart defibrillators and pacemakers so the value of the company wouldn’t slump at a time it was about to be acquired. Judge Sarah Evans Barker dismissed the case late last month, saying the investors didn’t produce […]
Indianapolis startup Marcadia Biotech Inc. today announced it has signed an agreement with drug giant Merck & Co. Inc. to help bring Marcadia’s promising diabetes therapies to market. Financial terms were not disclosed. However, Merck, headquartered in Whitehouse Station, N.J., will pay Marcadia an upfront fee as well as payments for exclusivity and ongoing collaborative […]
So Blu-ray won the high-definition format battle, effectively turning HD DVD into this generation’s Betamax.
Personally, this didn’t affect me at all. I managed to stay out of this turf war largely because a clearer picture and movie theater-quality sound are…
ATA Airlines said today it would close its Chicago Midway hub and cease all scheduled service there, starting with domestic flights on April 14 and international flights as of June 7. The announcement comes after ATA parent Global Aero Logistics said in a January regulatory filing that it was considering selling all or part of […]
Negotiations are heating up between Formula One and Indianapolis Motor Speedway officials that could bring F1 racing back to Indianapolis in 2009. Speedway boss Tony George told an audience at yesterday’s IU Business…
Earlier this week, Jill Long Thompson, who is running for the Democratic nomination for governor, said Gov.
Mitch Danielsâ?? approach to economic development has focused on individual companies to the detriment of big-picture
policy changes that could improve the…
