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Federal Communications Commission members have approved the buyout of Clear Channel Communications Inc., which owns WFBQ-FM 94.7 and two other Indianapolis radio stations, according to a report in The Wall Street Journal. The newspaper said a formal announcement could follow within a week, although the FCC wouldn’t comment. Leading the group acquiring San Antonio-based Clear […]
Incoming Eli Lilly and Co. CEO John Lechleiter can add another feather to his nice-guy hat. Mike Huckman, who follows the pharmaceutical industry for CNBC, wrote in an online posting this week that he was impressed when he interviewed Lechleiter during an industry gathering Monday. Lechleiter takes over for retiring Lilly CEO Sidney Taurel on […]
Mortgage rates are falling. This week, rates on 30-year mortgages slipped below 6 percent for the first time
in more than two years.
Are the cheaper rates putting you in a mood to refinance or step up to that house youâ??ve…
Developer Lauth Group Inc. today laid off 80 employees – about 18 percent of its nationwide work force – including 54 at its Indianapolis headquarters. The company described the move as part of a “realignment” that will help the nation’s 13th-largest developer continue to grow. About 90 percent of Lauth’s business is outside Indiana. The […]
A Michigan-based investment firm has paid more than $30 million for the 12-story Landmark Center at 1099 N. Meridian St. Quantum Investments bought the property from Illinois-based Westminster Funds, said Jenna Rowe, a spokeswoman for CB Richard Ellis, which marketed the property. Rowe said the sale price was between $100 and $125 per square foot, […]
Direct Buy Inc., a Merrillville company that franchises 149 centers where members buy directly from manufacturers, has been acquired by Miami-based private investment firm Trivest Partners LP and Direct Buy managers. Terms were not disclosed. The parties said the deal will infuse the company with strategic and financial resources to expand. In Indiana, Direct Buy […]
The U.S. Department of Justice has started an inquiry into its internal practices after the law firm of former Attorney General John Ashcroft was named to oversee business practices of Warsaw-based prosthetics maker Zimmer Holdings Inc. Current Attorney General Michael Mukasey and some aides fear the department appears to be in a conflict of interest, […]
Work on a $530 million automotive transmission plant near Tipton has ground to a halt over a dispute between its partners, Chrysler LLC and German transmission maker Getrag. Construction stopped Dec. 21, ostensibly for a holiday break, but the work hasn’t resumed, according the Kokomo Tribune. Without naming its sources, the newspaper reported that the […]
Real estate giant Colliers Turley Martin Tucker expects a 2008 slowdown in new office and industrial construction in Indianapolis as market demand catches up to a rapidly expanding supply. Retail construction likely will continue its quick pace, buoyed by the addition of mega-fitness chains and the local expansion of Dunkin Donuts. But tightening credit markets […]
By popular demand, here are a few updates on new development projects: The Maxwell is coming out of the ground on schedule, but sales have been slow so far,…
Some online traders made $100 for every $1 they bet on Hillary Clinton’s winning the New Hampshire primary Tuesday, according to Bloomberg. Clinton’s chances of taking the pivotal state were so battered after she placed second to Barack Obama in Iowa that Obama’s odds had skyrocketed to 99 percent. One poll showed Obama leading Clinton […]
Questions posed by U.S. Supreme Court justices today suggest they might be reluctant to overturn Indianaâ??s
voter ID law.
Reports from the proceedings quote Justice Anthony Kennedy, often a swing vote on the court, as asking why
the court should be…
Emmis Communications Corp. Chairman Jeff Smulyan suggested this morning that the radio industry has hit rock bottom, but that there is reason for optimism in 2008. Today, Emmis officials announced a $2.1 million loss on revenue of $91.7 million for the quarter ended Nov. 30. Though revenue was up slightly from $91.2 million for the […]
Few would object, on the one end, to a Norman Rockwell painting being hung in an art gallery window.
Few, at the other end, would approve of a city park screening of a Jenna Jameson skin flick.
But where is the line…
The soft economy might feel like a recession, but isn’t, and conditions won’t deteriorate into a recession. That’s the take of 62 economists surveyed by Bloomberg from Jan. 3-8. Their median estimate predicts the economy will grow 1.5 percent through June, the slowest since the final three quarters of 2001. One of the economists, Mickey […]
WellPoint Inc. has appointed Brian A. Sassi as CEO of its consumer business unit, which includes the individual, senior and Medicaid arms of the Indianapolis-based health insurer’s operations. By Feb. 1, Sassi will replace Joan Herman, who announced in October that she planned to retire by mid-2008. Sassi was president of Blue Cross of California, […]
A sluggish radio market continued to plague Emmis Communications Corp., which today reported a fiscal third-quarter loss of $2.1 million. The locally based media company showed a $946,000 profit a year earlier. Revenue in the three months ended Nov. 30 was $91.7 million, up slightly from $91.2 million last year. Radio revenue fell 3.2 percent, […]
Nearly 103,000 visitors took in the Indianapolis Museum of Art’s recently closed exhibit “Roman Art from the Louvre,” setting an attendance record for a traveling exhibit at the IMA. The collection of Roman artifacts opened Sept. 23 and closed Jan. 6, logging 102,980 visits and eclipsing the previous record holder, “Gifts to the Tsars.” That […]
An insurance company headquartered in Fort Wayne has refused to offer a property policy to a Michigan church
that belongs to a denomination that backs gay rights.
Brotherhood Mutual Insurance Co., says the risk of insuring West Adrian United Church of…
The U.S. Food and Drug Administration has approved once-daily use of Cialis, the anti-impotence pill made by Eli Lilly and Co., the Indianapolis drugmaker announced today. The once-daily version is a lower dose designed to allow men to have sex at any time between doses. It already has been available in parts of Europe. Since […]
