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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 […]

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 […]

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 […]

Gov. Mitch Daniels’ personal involvement and the “entrepreneurial spirit” of the Indiana Economic Development Corp. were among the reasons Medco Health Solutions announced Nov. 12 that it had chosen the Indianapolis area over Louisville for the location of a $150 million pharmaceutical distribution center. The sentiment was expressed by Medco President Kenneth Klepper in The […]

Conseco Insurance Group announced yesterday that its president, Michael J. Dubes, has retired and been replaced by Dan R. Bardin. Dubes, age 65, led the unit of Carmel-based Conseco Inc. since June 2005. Bardin most recently was an industry consultant. He also has been chief executive of insurance at Prudential Corp., Asia, and general manager […]

Standard & Poor’s Ratings Service has increased its outlook on Indianapolis’ general obligation bonds to “AAA stable” from “AAA negative.” The rating, which anticipates the city’s ability to repay its debt as far as two years into the future, is the highest issued by S&P. Prompting the upgrade was the city’s decision to increase income […]

New Castle‘s school board has voted 3-2 to drop Chrysler from the name of its high school. Beginning in 2011, the school will simply be called New Castle High School, according to The Star Press of Muncie. The school was named Walter P. Chrysler Memorial High School when built in 1955, but sentiment to change […]

CTS Corp., which designs and manufactures electrical components and sensors, said yesterday it will eliminate 103 positions this year to improve efficiency. The Elkhart company operates globally and didn’t specify where the cuts would be made. The realignment will cost $2.8 million, but will save a similar amount on an annual basis after the cost […]