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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 […]
Last year was a yawner for job creation in Indiana, according to new figures from the Indiana Department of Workforce Development. Only 5,800 jobs were added. The 0.2-percent increase was virtually nothing compared to the national economy, which grew nearly 1 percent in a year when the economy slowed. It also was the second year […]
A pair of local high-tech heavyweights are scheduled to speak today at Indiana University’s Kelley School of Business. Bob Laikin, CEO of Plainfield-based wireless device distributor Brightpoint Inc., will visit the Johnson Center for Entrepreneurship and Innovation in Bloomington as a distinguished entrepreneur-in-residence. Laikin will speak at a faculty lunch, then spend the afternoon visiting […]
Emerson Motor Co. has laid off nearly a third of the workers at an electric motor plant in the southern Indiana town of Princeton, the St. Louis company said late last week. Fifty-two of the 170 employees were put on temporary layoff after the market softened, Emerson said. The plant makes motors for hospital beds […]
Board members of Johnson Memorial Hospital in Franklin are willing to work with outside parties but have no plans to sell or merge the facility, the Daily Journal of Franklin reported today. In a statement, the board of the 149-bed, county-owned hospital asked Johnson County residents for patience as it evaluates its short- and long-term […]
If General Electric Co. follows through on its plan to close its Bloomington refrigerator plant, local not-for-profits are likely to feel pain. Employees at the sprawling facility donated $54,000 and the company gave $21,500 last year to the Monroe County United Way. That made GE the second-largest work place contributor, according to The Herald-Times of […]
Broad Ripple’s Naked Tchopstix is expanding its original location and adding another along 96th Street. A new bar is scheduled to open this week at the Broad Ripple sushi hotspot….
The new Honda Manufacturing of Indiana plant in Greensburg will make the Accord full-size car and Fit subcompact in addition to the Civic sedans already announced by the Japanese company, a research group predicts. In a report last week, the Center for Automotive Research in Ann Arbor, Mich., said that the site would assemble the […]
Civic boosters in Delphi fear the town northeast of Lafayette will become just another bedroom community, so they’re fighting back. They want the town, population 2,977, to become more of a destination for shoppers and tourists, according to the Journal & Courier of Lafayette. Once a commercial hub on the Wabash and Erie Canal, Delphi […]
It isnâ??t often these days that we see deep, serious reporting on poverty that helps explain the problem
and makes us think.
In a recent interview, Washington Post columnist E.J. Dionne argued that the subject has been edged out of
news…
I had a busy A&E weekend, with the “Three Girls and Their Buddy” concert at Clowes Hall on Friday night (more on that later), the Indianapolis Symphony Orchestra’s hot ticket “Rite of Spring” performance on Saturday (see previous blog entry…
Small businesses in the Muncie area are struggling to compete for employees against IBM and Sallie Mae now that the giants have opened locations in the region. Sallie Mae has hired 70 workers since opening a call center in Muncie in late 2006, and an IBM customer service center in Daleville has hired about 200 […]
