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West Lafayette-based drug developer Endocyte Inc. today announced it has secured a $15-million credit line through Alexandria, Va.-based Oxford Finance Corp. and Chicago-based GE Healthcare Financial Services. Endocyte CFO Mike Sherman said the credit line gives his company financial flexibility as it tries to advance a series of patented cancer treatments. Unlike a venture capital […]
I’m a bit shamed to admit it, but when I picked up Steve Almond’s recent collection of essays “(Not that You Asked)” I cringed a little when I saw that the first substantial one focused on the author’s literary hero,…
Three layoffs were announced yesterday in as many locations in Indiana. Superior Essex Inc. said it will close its wire manufacturing plant in Vincennes as part of a restructuring and shift the work to plants in Tennessee and Mexico, the Vincennes Sun-Commercial reported. By the end of the year, 250 workers will lose their jobs. The […]
Indianapolis-based Steak n Shake Co. Inc. reported a $1.2 million loss in its first fiscal quarter after having shown a $4.2 million profit a year earlier. The loss of 4 cents per share was greater than the 2-cent loss expected by analysts surveyed by Thomson Financial. Revenue in the period ended Dec. 19 slipped 7.4 […]
Cummins Inc. plans to build a four-story, 100,000-square-foot building as part of a revitalization of the old Commons Mall in Columbus. The project calls for demolishing much of the mall and replacing…
If you pay taxes, President Bush and leaders in Congress have agreed to send you at least $600 in the
hope youâ??ll spend it and pump more life into the economy.
They have their wishes, but Americans are independent sorts.
What would…
The brother of former race team owner Tony Bettenhausen, who died in a plane crash nearly eight years ago, has won an appeal of a court case involving ownership of a related business. The Indiana Court of Appeals this month reversed a previous decision awarding business associate Thomas Godby full ownership of 109 Gasoline Alley […]
Noblesville-based Warner Bodies Inc. said today that it has acquired the fabrication division of Metro Products, an Indianapolis company that makes a variety of products, for $850,000. The 15 workers at Metro have been asked to join Warner, a longtime maker of truck bodies.
ITT Educational Services Inc. reported today that fourth-quarter profit shot up 18.6 percent, to $48.5 million, on rising enrollment and the opening of new locations. The Carmel-based operator of technical schools said revenue was $230.4 million, up 11.7 percent from the year-ago period. The $1.20 per share in profit exceeded the $1.17 anticipated by analysts […]
Terre Haute is losing shoppers to Plainfield and Evansville, so two developers want to attract more stores to the western Indiana city. To make room for the stores, the Terre Haute-based developers, Thompson Thrift and Gibson Development, want land now occupied by the Wabash Valley Fairgrounds, according to the Tribune-Star. In exchange, the fairgrounds would […]
Earnings of Celadon Group plunged 72 percent in the quarter ended Dec. 31, the Indianapolis-based trucking company reported yesterday, reflecting a continued downturn in the industry. Net income of $1.7 million was down from $6.1 million for the same quarter the previous year. Earnings per share fell to 8 cents, from 26 cents a year […]
Shares of Cummins Inc. shot up more than 6 percent late this afternoon after the Columbus, Ind., diesel engine maker announced it would add 500 engineering and other professional positions in the next two years. The stock closed at $45.33, up $2.71 a share, then edged up 13 cents more in after-hours trading. The 500 […]
At this point four years ago, now-Gov. Mitch Daniels had started outlining a platform based on revitalizing
the economy.
The economy had been headed south since the â??70s and had taken another beating early in the decade. Voters
were only too…
Columbus diesel engine maker Cummins Inc. announced today it will add 500 jobs near its downtown headquarters in the next two years. The positions will be engineers and other professional employees. They will be located in a 100,000-square-foot building under construction in the Commons Mall redevelopment project. Cummins currently has 5,500 workers in Columbus, plus […]
A Bloomington developer is planning a $20-million revival of the former Thomson Consumer Electronics plant on the city’s near east side. The 50-acre Sherman Park property has become an eyesore since the…
The Indianapolis Museum of Art’s Tobias Theater will be renovated and reopened thanks to a $1 million gift from the Randall and Marianne Tobias.
Announcements of specific programs for “The Toby” are still forthcoming, but IMA reps say it will be…
Central Indiana Corporate Partnership CEO Mark Miles will lead the city’s attempt to land the Super Bowl in 2012, according to a source familiar with the matter. The announcement of Miles’ selection is expected this week. The source, who asked not to be named, said Miles will oversee initial research as well as assembling the […]
Freije Treatment Systems Inc. plans to move its headquarters and product development to Mount Comfort Industrial Park east of Indianapolis from the Eagle Creek Park area. The expansion is expected to boost the company’s employment from a dozen to 200 by 2010. Freije, based at 6450 Guion Road, develops and sells salt-free water softeners for […]
Randall and Marianne Tobias have donated $1 million to the Indianapolis Museum of Art to renovate the museum’s 604-seat namesake theater. The newly polished venue will open this fall and IMA plans to screen films and bring in speakers on topics dear to the museum’s new focus on design and the interaction of art and […]
A Texas-based investor said in a letter to Steak n Shake Co. shareholders today that he wants to replace the majority of the company’s board, halt wasteful spending and focus on franchising. The letter was written by Sardar Biglari, a San Antonio hedge fund manager whose investment group owns 8 percent of Indianapolis-based Steak n […]
