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An investor that holds 5.7 percent of Emmis Communications Corp. said today that the stock has performed so poorly that the board should allow the company to be taken private. New York-based Arnhold and S. Bleichroeder Advisers LLC made the request to directors Peter Lund and Susan Bayh, the wife of U.S. Sen. Evan Bayh, […]
Economic recovery in Brazil helped drive third-quarter sales for Indianapolis-based Dow AgroSciences to $788 million, a 19-percent increase from the same period last year, its parent, Midland, Mich.-based Dow Chemical Co. Inc., reported yesterday. In Brazil, more sugar cane acres and a good season for growing corn sparked strong demand for Dow AgroSciences’ commodity herbicides. […]
More than 20 cities-including Indianapolis-are bidding for the USA Basketball headquarters and national training facilities, which have been located in Colorado Springs since 1979. The official announcement came today from officials of USA Basketball, the national governing body for men’s and women’s basketball in the U.S. Bids are due Dec. 20, with a decision set […]
Analysts and investors turned sour on Eli Lilly and Co.’s stock overnight after the Indianapolis drug maker stopped enrolling patients in two small safety trials of a potential blockbuster drug. Lilly shares opened today at $52.15, down $3.74 or 6.6 percent from their close yesterday. Lilly announced yesterday after markets closed that it had temporarily […]
Share prices of Indianapolis-based Celadon Group Inc. fell 15 percent this morning after it reported late yesterday that soft demand for its services caused profit to plunge in its first fiscal quarter. The stock fell to $8.16 from its close yesterday of $9.65, then bounced back to $8.35. The long-haul trucking service reported that it […]
BioCrossroads said today it has formed a not-for-profit group to find ways to tie pharmaceutical research in San Diego and other biotech centers to Indiana companies and universities that that can turn the discoveries into marketable drugs. The not-for-profit, BioCrossroadsLinx, will tap more than 40 Indiana companies that support large pharmaceutical companies and small biotech […]
Cummins Inc.’s stock price slid this morning after the Columbus diesel engine maker reported earnings that fell short of analysts’ expectations. Shares dipped to $119 from yesterday’s close of $133, but have rebounded slightly to trade near $121, a 9-percent decline from yesterday. Earlier this morning, Cummins reported that third-quarter profit was up 7.6 percent […]
The 19-square-mile, 24,000-population town of Westfield could balloon to 56 square miles and 110,000 people in the next several years. More than 11,000 new homes are in the works. And the residential rush…
It isn’t often managers of manufacturing plants earn an affectionate editorial in the local newspaper when they move on to their next job, but that’s what Steve Brock received from the Chronicle-Tribune in Marion this morning. Brock, who managed General Motors Corp.’s stamping plant in the city between Indianapolis and Fort Wayne, not only helped […]
Fair warning: I don’t typically write reviews here, but in the last week I’ve visited two new restaurants that have major kinks to work out. They are Leland’s at 946 S. Meridian St., and TaTa Cuban Cafe at 137 W….
On the surface, it doesn’t appear that a lot is going well for Celadon Group Inc., the Indianapolis trucking firm. Its stock price of $9.45 per share is half its value early this year. Two analysts have downgraded the stock in the past month, and one of them expects Celadon earnings to be down by […]
WellPoint Inc. officials expect to win about 50,000 new customers from M-Plan Inc. as part of an endorsement deal the two health plans signed in September, WellPoint CEO Angela F. Braly said in a conference call with analysts this morning. WellPoint’s Indiana subsidiary, Anthem Blue Cross Blue Shield, will pay a commission to M-Plan for […]
Rising expenses from adding new aircraft put a drag on third-quarter profit at Republic Airways Holdings, which fell 8 percent from the same time last year, to $20.2 million. Earnings per share fell slightly to 49 cents, from 50 cents for the same quarter last year, the Indianapolis-based carrier reported yesterday. The operator of regional […]
A local brokerage firm that specializes in foreclosed properties is moving its headquarters from North Meridian to a 6,700-square-foot office building at 1236-1238 Pennsylvania St. Wynkoop Brokerage bought the building shown…
The European Union Commission has approved using genetically altered corn developed by Indianapolis-based Dow AgroSciences LLC and DuPont for use in animal feeds, and for human consumption and other uses. However, the corn, which resists insects and the Roundup herbicide, still cannot be raised in the EU. Dow AgroSciences is the agricultural arm of Dow […]
WellPoint Inc. posted solid profit growth and modest customer growth in the third quarter, the Indianapolis-based health insurer announced this morning. Net income was $868 million, or $1.45 per share, a 7-percent increase over the same quarter last year. WellPoint also reversed a decline in membership from its second quarter, posting a gain of 38,000 […]
Chrysler workers at two Kokomo plants overwhelmingly rebuffed a tentative United Auto Workers contract during voting yesterday, according to a Reuters report. At the casting plant, 79 percent voted against the four-year pact. At a transmission plant, 72 percent voted No. All told, 2,855 opposed against the contract at the plants, while only 1,053 supported […]
A federal appeals court has ruled against Indianapolis-based shopping mall giant Simon Property Group in a case revolving around whether dormancy fees can be charged on gift cards. The U.S. Circuit Court of Appeals in Manhattan on Oct. 19 sided with the state of Connecticut in its ban on the practice, according to Bloomberg. If […]
Indiana State Museum is expected to announce details today about a major traveling exhibit on corn that will debut locally in August 2009. Museum employees have developed content for the $1 million-plus show, which eventually will travel to other museums in exchange for a fee. The show will map corn’s evolution and hybridization and the […]
The Indianapolis Colts are scoring sponsors for their new venue as fast as quarterback Peyton Manning engineers victories for the undefeated team.The Colts have nailed down their third, multi-million dollar sponsorship deal within a month. At noon today, team officials announced from their 56th Street training complex that Baker & Daniels LLP has signed a […]
