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Plans for a 1,000-room JW Marriott convention hotel now envision a taller building, with a whole new look and a larger price tag. The hotel would be 34 stories, up from 29, and the entire project – which includes three other hotels – would cost $425 million, up from $350 million. The redesigned facade will […]
Towne Air Freight LLC plans to offer about 200 of its truck drivers the chance to own their own rigs as the South Bend trucking firm follows an industry trend of outsourcing to contractors. At its Indianapolis terminal, 6430 Airway Drive near Indianapolis International Airport, about 35 drivers will receive the offer, said Jerry Scott, […]
Indiana Sports Corp. has asked the city to reduce the portion of Pan Am Plaza included in a covenant that restricts development. If approved, the updated covenant would cover only 10,000 square feet,…
Cory Schouten First Indiana Corp. shareholders today approved the local bank’s sale to Milwaukee-based Marshall & Ilsley Corp., a deal First Indiana directors OK’d in July. The $529 million merger is expected to close in January. At the meeting at First Indiana Plaza, First Indiana patriarch Bob McKinney and his daughter, Marni, who chairs the […]
Martin University has named Algeania Freeman to replace its founding president, Boniface Hardin, who is retiring. The school, the state’s only predominately African-American institution, made the announcement this morning. Freeman, 58, founded The Freeman Group Inc., a contractual consulting company. She also served as president of Livingstone College in Salisbury, N.C., from 2001 to 2004. […]
WellPoint Inc. will appoint John Langenus as senior vice president and president and CEO of its Anthem National Accounts division on Feb. 25, the company announced today. The division serves nearly 11 million customers. Langenus comes to WellPoint from Bethesda, Md.-based Coventry Healthcare, where he served as president of group health care for more than […]
A few weeks back in my IBJ Daily A&E e-mail blast (you can subscribe for free here: http://www.ibj.com/2k6_2/forms/regform_nh.asp), I wrote about a recent presentation of a LaScala opera on screen at the Rave movie theater at Metropolis.
Last night, at…
The novel Arts Industry Business Incubator opened Dec. 12 in the Brown County seat of Nashville after years of discussion. The incubator, which is intended to help launch and grow arts-oriented businesses, can share space, clerical support and other needs of small businesses, according to the Brown County Democrat. It is supported by the Brown […]
Intelliplex, the state-certified technology park in Shelbyville that has drawn fire locally and caution from the state, has received a commitment from Shelby County commissioners for $125,000 in funding per year for 25 years. The action was taken Monday night as part of a series of decisions on how to spend economic development income taxes, […]
Eli Lilly and Co.â??s announcement this morning that President and Chief Operating Officer John Lechleiter would
succeed CEO Sidney Taurel in April was a picture of smooth succession planning.
Lechleiterâ??s ascension had been expected for so long that the news was…
Medco Health Solutions Inc. said this morning that it will build its $140-million pharmacy distribution center at AllPoints at Anson in Boone County. The Franklin Lakes, N.J.-based company announced Nov. 12 that it would locate the center in the Indianapolis area, but that it still hadn’t chosen among Boone, Johnson or Hendricks counties. AllPoints at […]
Investors gave an initially favorable response to the news that John C. Lechleiter, a chemist by training, will take the helm of Eli Lilly and Co. next year, at a time the entire industry faces wrenching changes. “I’m all for the person with the science background to be the CEO,” said Rich Foran, vice president […]
Locally based Duke Realty Corp. has been selected to develop a new Indianapolis field office for the FBI in the Woodland Corporate Park along Interstate 465 between 71st and 86th streets. Plans for the new office call for a complex of three buildings: a three-story office building, an enclosed parking garage and a separate maintenance […]
Just yesterday, the Indianapolis Symphony Orchestra announced a new addition to its schedule–a Tuesday night preview concert of music excerpts from upcoming shows. The Jan. 8 coming-attractions evening ticket price is $5, which also includes a 2-for-1 offer for a future show.
Getting…
State Sen. Luke Kenley, the Noblesville Republican who this summer chaired a legislative committee to study the property tax issue, wants tighter controls on tax increment financing districts and property tax abatements, reports The Times in Munster. For years, the incentives have been offered to entice businesses to relocate to or expand in Indiana. Critics […]
Sidney Taurel, Eli Lilly and Co.’s retiring CEO, oversaw the company during a challenging stretch when it lost patent protection for Prozac and faced intense litigation against its blockbuster Zyprexa. Since Taurel became CEO in July 1998, Lilly’s stock price has fallen 17 percent. By comparison, the overall market, as measured by the S&P 500, […]
Sidney Taurel will retire as CEO of Eli Lilly and Co. at the end of March, the company said this morning. He will remain chairman of the Indianapolis-based drug maker’s board until December 2008. John Lechleiter, 54, Lilly’s president and chief operating officer since October 2005, will take over as CEO April 1. Taurel, 58, […]
The owner of two riverboat casinos in Gary is talking with a state legislator about moving one of his two state gaming licenses to Steuben County in northeastern Indiana, according to The Times of Munster. Majestic Star owner Don Barden said the area near Michigan and Ohio is “underserved” for gamblers. The mayor of Gary, […]
Itâ??s been awhile since the Indianapolis area has had two initial public offerings in the works at the
same
time, but thatâ??s exactly what we have. And theyâ??re software firms to boot â?? businesses Indianapolis
and other
Midwestern cities have…
ExactTarget Inc. will need to reveal much more about its $86-million initial public offering before analysts and investors can accurately assess the value proposition, one expert said today. The Indianapolis-based e-mail marketing firm hasn’t disclosed details including the number of shares available and the price per share; that information probably won’t be forthcoming until February, […]
