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Eli Lilly and Co. will pay at least $7 million to acquire rights to a diabetes compound developed by Toronto-based Transition Therapeutics Inc., the companies announced tonight. Indianapolis-based Lilly will work with Transition to complete a Phase II trial of a compound called TT-223, which provided sustained improvement in blood sugar control during preclinical studies. […]
Locally based Steak n Shake Co. has named board member Wayne Kelley as interim chairman and CEO and elevated Chief Financial Officer Jeffrey Blade to the post of interim president. The company announced the moves this afternoon, almost a week after shareholders voted off the board Alan Gilman, the chairman and acting CEO of the struggling burger […]
Plenty of people are holding out hope that Premier Properties USA Inc. can pull off its ambitious, $750-million Venu project at the southwest corner of 86th Street and Keystone…
Much is being made about the impact of “Saturday Night Live” on the presidential election. For the latest New York Times story, click here
According to the argument, the way “SNL” characterize the candidates is the way the public will…
Presidential candidate Sen. Barack Obama plans to speak at a town hall meeting Saturday at the Plainfield High School gymnasium, the campaign said today. Tickets for the 12:30 p.m. event are all taken.
Hereâ??s something that might surprise you, considering that Indiana is sometimes viewed by people outside the
state as insular and unwelcoming to strangers.
Indianapolis has a higher percentage of income earners at least age 15 who were born in another state…
Lots of people are flocking to the eight suburban counties that surround Indianapolis, a new report from
the Indianapolis Private Industry Council says.
More than 16,000 showed up in 2005 alone, said the report, which tracks the work force.
But the council…
Rumors are running hot about the future ownership of the Indiana Pacers. The New York Post’s Peter Vecsey mentioned in passing in his column on Sunday that the Simons have posted a for-sale sign on the team. Who could blame…
About 26 of the 700 workers at Ryobi Die Casting Inc. in Shelbyville have taken voluntary layoffs due to the ripple effect of the two-week American Axle and Manufacturing Holdings Inc. strike. The plant machines parts for General Motors Corp. GM has slowed production and shut down plants as inventories of parts supplied by Detroit-based […]
Troubles for Carlyle Capital Corp. Ltd., a unit of Carlyle Group, a Washington D.C.-based private equity group, have worsened after it said it can’t meet demands of more than $400 million in margin calls from lenders, according to Bloomberg. The fund had defaulted on about $16.6 billion of debt as of yesterday and expects additional […]
A lawsuit Whirlpool Corp. filed against a union at its refrigerator plant in Evansville has been dismissed after the parties reached a settlement, according to the Evansville Courier & Press. Terms were not disclosed. Whirlpool sued after an arbitrator forced the Benton Harbor, Mich., company to reimburse insurance surcharges for employees who smoke. A decade […]
Shares of Steak n Shake Co. ended the day largely unchanged at $8.06 after rising nearly 3 percent through mid-day trading. The Indianapolis company early this afternoon announced that two outside shareholders bumped two directors off the board, including the chairman and acting CEO. Sardar Biglari and Phillip Cooley, who represent the Texas-based Lion Fund, […]
Democratic presidential candidate Barack Obama is dropping in on Indianapolis this Saturday for a campaign stop.
Will Obama or Hillary do better in Indiana?
Employment was about the same in January as December, according to the latest figures from the Indiana Department of Workforce Development. The state had 2,994,800 jobs, down 200 from December. The figures, taken from surveys of employers, are adjusted for seasonal fluctuations. January figures arrived about a month late due to government statisticians’ needing additional […]
So much for IKEA dropping one of its stores in the Indianapolis area anytime soon.
A store opening today in a Cincinnati suburb is about as close as Indianapolis is going to see, at least
for a while, IBJ Associate…
What does Cincinnati have that Indianapolis doesn’t? As of today, an IKEA. The popular Swedish home-furnishings chain opened its 34th U.S. store this morning in suburban Cincinnati, its final foray into the Midwest after a five-year growth spurt that never quite made it to Indianapolis. Instead, IKEA chose to add locations in Bloomington, Minn., near […]
Vontoo Inc., the Indianapolis startup that’s developing audio marketing messages, has attracted $2 million in private funding. The company was started in 2006 to help bring personalized voice mail messages that can include nuance that’s difficult to convey in an e-mail. A key financial backer is Robert Compton, an angel investor living in the Memphis […]
Business is good for the Indy Racing Experience, which was founded in a Gasoline Alley shop in 1987. The company, which started allowing fans to ride around the Indianapolis Motor Speedway in two-seat…
A law firm pressing a racial discrimination lawsuit against Eli Lilly and Co. says a security guard found a noose hanging in a tree on Lilly’s corporate campus in Indianapolis. Rose & Rose, a Washington, D.C., law firm, sent a statement about the incident late yesterday. The law firm is representing a group of current […]
Tennessee-based Hollingsworth Capital Partners has bought a 330,822-square-foot industrial building at 910 E. 169th St. in Westfield for an undisclosed price. The seller was Verizon Communications Inc. The new owner plans to lease the building to multiple tenants. John Huguenard and Michael Weishaar with Colliers Turley Martin Tucker represented Verizon Communications in the sale.
