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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 […]
BioCrossroads, the not-for-profit that promotes life sciences in the state, has received a $2.5-million grant from Indianapolis-based Richard M. Fairbanks Foundation Inc. to underwrite a series of health care information projects through 2010. Established in 1986, the Fairbanks Foundation awards grants to Indianapolis not-for-profits that research or deliver projects related to health care, community vitality […]
Shares of WellPoint Inc. fell 4.7 percent this morning after the Indianapolis health insurer announced strong fourth-quarter financial performance but also said it failed to attract as many new customers as it expected. The stock was trading near $75 after closing yesterday at $78.75. The Indianapolis-based health insurer added 708,000 customers in 2007, missing its […]
Harman-Becker Automotive Systems Inc. plans to shut down its operation in Martinsville in phases this year, and close completely by next January, according to The Reporter Times. The first cuts will begin in April. The plant, which makes Infinity, JBL, Harman Kardon speakers and speaker systems, employs about 340. Last year, the company cut about […]
One of the city’s most unique condo projects, a reuse of the former Meridian Street Methodist Episcopal Church at 802 N. Meridian St., is almost done. The first new residents of the…
The Indiana Court of Appeals yesterday upheld an $8 million judgment that Conseco Inc. won against former director James D. Massey, who once was president of Merchants National Bank in Indianapolis. In the 3-0 decision, the court agreed with Hamilton County Judge Steve Nation, who declared that Massey still owed Conseco for $8 million in […]
Some unrelated thoughts on a catch-up Tuesday:
The Academy Award nominations are out and it’s interesting to note that “Transformers” (3) received more nominations than “Norbit” (1).
Seriously, though, for those of us who watch the Oscars the way others…
Indianapolis Mayor Greg Ballard this week plans to name a point person to head the city’s bid for the 2012 Super Bowl. Ballard spokeman Marcus Barlow said today the mayor’s office has moved forward and that other leaders are falling into place. John Lechleiter, who will become CEO of Eli Lilly and Co. in April, […]
Roche has successfully turned a hostile takeover bid into a friendly one, winning over the board of Ventana Medical Systems Inc. by hiking the price it would pay by 19 percent. Swiss-based Roche, which operates its North American diagnostic division out of Indianapolis, would pay $3.4 billion under a merger agreement signed by the boards […]
