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BP America Inc. in the next two years plans to sell the roughly 700 convenience stores it owns and operates, potentially displacing nearly 10,000 workers, the Houston-based unit of BP PLC of London said today. The vast majority of BP’s 13,000 U.S. convenience stores are independently owned. There are 75 BP convenience stores within 50 […]
Selective Insurance Co. of America, a property and casualty insurer headquartered in Branchville, N.J., will open a Midwest regional office at 11711 N. Meridian St. in Carmel. The office will employ 40, Indiana Economic Development Corp. said today. The company received no state incentives. Specializing in commercial, personal, bond and flood coverage, Selective Insurance is […]
Indianapolis-based Steak n Shake Co. reported more grim quarterly results today, and the company’s outlook for 2008 isn’t much better. After the market closed today, the company said same-store sales fell 3.9 percent in its fiscal fourth quarter, which ended Sept. 26. Revenue dropped to $151.1 million compared with $152 million during the same […]
A prime block of Fountain Square real estate is on the market. Businessman Don Swayze is asking $1.2 million for two buildings and a used-car lot he owns along Virginia…
Berkshire Hathaway Inc. has boosted its stake in Indianapolis-based WellPoint Inc. by 7.1 percent, according to Bloomberg. A regulatory filing yesterday showed Berkshire, which is owned by billionaire investor Warren Buffett, now holds 4.5 million shares-still less than 1 percent of the health insurer. Buffett has been accumulating the stock for months. In the second […]
The city of Indianapolis has signed a new contract with United Water Services, which has managed the city’s wastewater-treatment facilities and sewage-collection system since 1994. The new nine-year contract, which takes affect Jan. 1, includes an option for renewal in 2017 and 2023. United Water will earn $28.5 million in annual revenue for its services, […]
The National Urban League gave Eli Lilly and Co. its highest corporate honor today for helping with a health
outreach program to African-Americans.
Just two weeks ago another venerable civil rights group, the NAACP, backed a lawsuit filed for current and…
Two weeks ago, the NAACP backed existing and former black employees of Indianapolis-based Eli Lilly and Co. in a lawsuit that claims they were treated unfairly. Today, the National Urban League bestowed its Corporate Leadership Award on the pharmaceutical maker for working with the Urban League-also a civil rights group-to sponsor a program that encourages […]
Hillenbrand Industries Inc. reported today that profit in its fiscal fourth quarter fell on an adjusted basis to 82 cents per share from $1.12 per share a year earlier. The setback in the period ended Sept. 30 resulted from troubles in its Acute Care and Batesville Casket businesses in North America as well as investments […]
Aearo Technologies Inc., the Indianapolis company that makes goggles, earplugs and other personal safety equipment, has agreed to be acquired by 3M for $1.2 billion, the companies announced this morning. St. Paul, Minn.-based 3M plans to use Aearo to expand its own health and environmental-safety product lines. Aearo brands include E-A-R, Peltor, AOSafety and SafeWaze. […]
Drug prescription giant CVS Caremark Corp. has leased 162,000 square feet of warehouse space in Hancock County at Mount Comfort Commercial Park, according to Colliers Turley Martin Tucker, which helped broker the lease with KTR Capital Partners, a New York private equity firm. The deal, valued at more than $3 million, consolidates several locations and […]
An upscale martini bar and restaurant has signed a deal to take the anchor retail space at 757 Mass Ave, the luxury condo building at the southwest corner of Massachusetts and College avenues….
The Milwaukee bank that announced in July that it would acquire First Indiana Bank plans to close First Indiana’s longtime operations center at 1253 N. Emerson Ave. in Greenwood by Jan. 2, according to a filing with the state. Marshall & Ilsley will lay off 121 workers in conjunction with the closure, the filing said. First […]
Itâ??s been a busy day for the movement in Indianapolis to organize janitors under the Service Employees International
Union.
The union announced that it plans to begin negotiating with several janitorial firms operating in the Indianapolis
areaâ??a huge victory for the…
Several janitorial firms operating in the Indianapolis area have agreed to negotiate a contract with the Service Employees International Union, which has been holding protests and other events downtown for two years to try to force the talks. Meanwhile, a clergy group that backs the union is taking its campaign against Indianapolis-based HDG Mansur Group […]
Morton Meyerson, formerly president of EDS and the former chairman and CEO of Perot Systems, is the lead investor in a group that has placed $8 million into Indianapolis-based ChaCha, a search engine that uses people to aid in searches. ChaCha also announced today that Meyerson has been named to its board. In addition, ChaCha […]
A team of local developers is hoping to build a 550-bed, 16-story apartment tower near the IUPUI campus. The $40 million project, dubbed Paramount Tower, would target the lucrative student-housing market….
Bloomington Mayor Mark Kruzan is expressing concern over a previously announced partnership between his city’s hospital and Indianapolis-based Clarian Health. Kruzan said in a letter to The Herald-Times of Bloomington that his first worry is the potential loss of local control at Bloomington Hospital. “Bloomington Hospital needs to remain just that-Bloomington’s hospital,” he said. “Patient […]
Shares of HHGregg Appliances Inc. shot up 6 percent, to $15.68, today after the Indianapolis appliance and electronics chain reported a brighter earnings outlook and an 8.9-percent increase in same-store sales in its second fiscal quarter. The increase came during a stretch when many retailers struggled. Gregg reported a $6.9 million loss in the quarter […]
A $40 million gift from the Simon family to Riley Hospital for Children will help finish a new 10-story in-patient building and launch a fund-raising campaign, Riley Children's Foundation announced this morning.
