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Maxon Corp., a Muncie company that makes burners, gas valves and other heating equipment used by industry, has signed a definitive agreement to be sold to Honeywell International for $185 million. In a statement, Maxon President Rich Clasby said he anticipates Honeywell’s presence in developing countries to accelerate Maxon growth that had shown increasing strength […]
A local developer hopes to break ground next month on an $11.5-million condo project along East Street between Ohio and New York streets. Landmark of Lockerbie would feature 16 loft units,…
The headquarters of Haverstick Consulting Inc., the Carmel-based defense-consulting firm acquired by Kratos Defense & Security Solutions Inc. of San Diego, will remain in Indianapolis, a company executive said this afternoon. Haverstick, headed by Conseco founder Steve Hilbert, announced earlier today that it had agreed to be acquired by Kratos for $90 million, including $69 […]
American Health Network says its doctors in Kokomo, Russiaville and possibly other locations no longer will take new patients who are insured by Anthem Blue Cross and Blue Shield of Indiana. The announcement was issued yesterday, the physician network said, after Anthem refused to increase reimbursement rates even as the cost of providing care is […]
It wasnâ??t so long ago that Marion was the poster child for Rust Belt decline in Indiana. The city, which
is just off Interstate 69 between Indianapolis and Fort Wayne, lost a string of manufacturers and then finally
the big…
After reporting mixed results on a potentially lucrative blood thinner, Eli Lilly and Co. plans a new late-stage test of prasugrel for patients not receiving stents to open clogged heart arteries. Lilly and its development partner, Daiichi Sankyo Co. Ltd., plan to submit the drug for regulatory approval before the end of this year; the […]
Haverstick Consulting Inc., the Carmel defense-consulting firm, is being acquired by Kratos Defense & Security Solutions Inc. of San Diego, Calif., for $90 million. Of the $90 million, $69 million is cash and $21 million is Kratos stock. Kratos’ announcement late this morning did not discuss the future of Haverstick’s employees. Financial backers of Haverstick […]
Atlanta Magazine, which is owned by Indianapolis-based Emmis Communications Corp., has published an unusual retraction to a fawning profile of disgraced Falcons quarterback Michael Vick it published four years ago. The magazine reprinted the article but with observations in red handwriting, portions marked out and other changes. A section of one sentence, “You know about […]
Fewer people feel safe downtown, particularly after dark, the latest annual survey from the IUPUI Department of Tourism, Conventions and Event Management shows. Seventy-five percent feel safe downtown compared to 83 percent two years earlier, the survey found. After dark, only 34 percent feel safe; that figure declined from 44 percent in the 2005 survey. […]
LaSalle Bank’s purchaser is keeping on Keith Slifer, head of LaSalle’s commercial lending services in Indianapolis, and giving him additional responsibilities. Charlotte, N.C.-based Bank of America Corp., which bought LaSalle Oct. 1, has put Slifer in charge of its commercial banking operations in Indiana and Ohio. He will remain in Indianapolis and oversee the converted […]
Big Brothers of Indianapolis and Big Sisters of Central Indiana merged five years ago in hopes of mentoring more at-risk children, but turnover at the top of the organization has made it hard to get the ball rolling. The combined agency has had three leaders since the 2002 merger; revenue, which peaked at $2.3 million in 2003, has been up and down; and one-on-one mentor matches-its core activity-also declined. Despite the challenges, Big Brothers Big Sisters of Central Indiana finally…
Convenience store stalwart Village Pantry has launched a $15 million plan to renovate 146 stores and is eyeing acquisitions
that could double the chain’s size in three years. The moves come as Village Pantry separates from parent Marsh Supermarkets
Inc., a company that for years treated the convenience-store division as a redheaded stepchild.
This is why I like Mitch Daniels. Speaking about his property-tax program, he said, “When Indiana acts this time, and act we must, our steps must be fair, far-reaching and final,” Look at that alliteration … “fair, far-reaching and final.” Who else in public life gives us sentences like that? Look at his idealism: “fair, far-reaching and final.” Our state is known for its persistent lack of fairness, its shortsighted special-interest legislation, and its neverending tinkering. Mitch thinks he can…
When large companies make innovations that don’t fit their business plan, the discovery often ends up gathering dust on a shelf. But entrepreneurs are eager to build new companies around these orphaned technologies. Four years ago, Jeffrey Alholm spotted just such an opportunity. Warsaw-based Biomet Inc. had tabled a promising anesthetic-dispensing device. So Alholm formed Symbios Medical Products LLC and cut a deal to secure its rights. Now, Symbios has a chance to commercialize the device widely, thanks to a…
It seems like everyone is an expert at something. We have automobile experts, stock market experts, antique experts… my company even has a client who’s a sheep and goat expert. In an I n t e r n e t – c e n t r i c world, though, these experts can find themselves in a tough place. Online, information is clamoring to be free (or pretty cheap) and readily available. It’s no longer enough to declare yourself an…
Deciphering a company’s quarterly earnings report often can be a challenge for an investor. Many companies, but not all, choose to announce their quarterly earnings either before the stock market opens or after it closes. The idea is that this gives investors time to digest the provided information and may be less disruptive to the stock’s price than an intra-day announcement. Many companies will “guide” investors during the three months leading up to their quarterly earnings release so there are…
The three-tiered floor gives a commanding view of the flick playing on the big screen. Down the hall, other guests sit entranced behind flat-panel TVs in a spacious lounge, or check their e-mail courtesy of the building’s wireless signal. Not far away, 20 kids and their parents celebrate a birthday party. It’s not a movie theater, a Hilton or a Chuck E. Cheese’s: It’s Burd Ford’s new facility at 10320 E. Pendleton Pike. These days, almost every new or remodeled…
There’s a $2 billion hole in Eli Lilly and Co.’s future. That’s roughly how much pretax profit Lilly derives each year from
its best-seller, Zyprexa, according to calculations by IBJ. And it’s how much black ink will start running off Lilly’s books
once Zyprexa’s U.S. and European patents expire in 2011.
The number of crews Robert Hoffman employs to frame new homes has dwindled from 14 to four, and could drop even more if the residential construction market continues to sputter. But the owner of Hoffman Framework Inc. in North Salem, a tiny town in western Hendricks County, is not about to let his 12-year-old business wither away. Instead, he’s expecting to recover by making the leap to the much more vibrant commercial sector, where he can use his experience framing…
The office was abuzz when I walked in on a Monday morning in late August 2006. The Indiana Economic Development Corp. staff was upset and it didn’t take long to find out why. The Indianapolis Star had published their names and salaries as part of a lead story launched from the front page of the Sunday edition. “Is it the solemn civic duty of the Star to let the world know what I make?” our receptionist asked, crying. A member…
