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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.
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 […]
Contractors uncovered a bit of history this week as they continued renovation work at One Indiana Square, the 36-story office tower at Ohio and Pennsylvania streets. The work revealed parts…
A state legislative commission studying Indiana’s tax woes said today that it thinks the government should trim property taxes 50 percent for most homeowners. The bipartisan commission also wants to reduce taxes by 25 percent for other residential property like apartments and second homes. It would balance these cuts with increases in local option income […]
A huge mixed-use project proposed for just south of downtown would feature a 3,400-seat theater designed to attract 150 concerts, plays and events per year. Lead developer Ryan Zickler says the venue could draw 250,000 new visitors to downtown per year. His development team is finalizing plans for the overall $480-million project, which also calls […]
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 […]
Gov. Mitch Daniels has proposed capping residential property taxes at 1 percent of a homeâ??s assessed value,
rental properties at 2 percent and businesses at 3 percent.
Now state Sen. Luke Kenley says the bipartisan commission on taxes he heads will…
WISH-TV Channel 8 today launched a dedicated channel on the growing Internet site YouTube.com., which is owned by Google Inc. and has become the Web’s biggest video search engine. WISH’s parent company, Rhode Island-based Lin TV Corp., made the same move for its stations in Grand Rapids, Mich.; New Haven, Conn.; and Providence, R.I. Lin […]
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 […]
Capital Improvement Board President Fred Glass plans to announce his resignation at a 4 p.m. CIB meeting today. Glass’ resignation will be effective Dec. 31. Glass was appointed to the CIB by Democratic Mayor Bart Peterson in January 2000, and was elected president during his first meeting. “I always said the mayor’s last day would […]
Medco Health Solutions’ plan to build a large pharmacy distribution center in the Indianapolis area hits the state’s “sweet spot” for economic development, local and state officials said today. By employing pharmacists to oversee prescriptions, engineers and computer geeks to design and run robotic equipment to dump pills into bottles, and logistics workers to route […]
Ron Gifford, a partner at the Indianapolis law firm Baker & Daniels LLP, has been chosen as president and CEO of Indy Partnership, the organization that markets 10 counties in the region to businesses looking to expand. The Central Indiana Corporate Partnership appointed Gifford to succeed Gordon Hendry, who announced in September he would be […]
The Simon Property Group Headquarters took top honors at Keep Indianapolis Beautiful’s A Monumental Affair awards last week. The 30-year-old contest honors the city’s best architecture, development and construction. Last year’s top…
Lots of Hoosiers have warm-and-fuzzy feelings for Steak n Shake. Wall Street’s feelings are an entirely different
matter.
As the company readies to announce fiscal fourth quarter financial results this Thursday, investors are exasperated.
The company has reported eight straight quarters…
