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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 […]
Indianapolis is being mentioned as a possible site for the 2011 College World Series, which appears to be in play. In a recently released list of future NCAA championship events, the 2011 baseball series is listed with no host site beside it. Omaha has a deal to host the event through 2010. “If the event […]
Arcadia HealthCare, the Detroit-area company that announced Oct. 10 it will move its headquarters to Indianapolis, has named two high-level executives. New Executive Vice President and General Counsel Michelle Molin was a partner at the law firm Ice Miller. Steve Zeller has been promoted to Executive Vice President of Services from BestCare Travel Staffing LLC, […]
Two former executives of Chicago-based Ubiquity Brands, which owns Jays Foods Inc. and Select Snacks Co., say they were fired without cause when the company recently restructured. Ubiquity sold another unit to ConAgra Foods Inc. in September; Jays and Select Snacks have filed for bankruptcy protection. William McManaman, the company’s former chief financial officer, and […]
Ball State University‘s contract with President Jo Ann Gora has been extended to June 2012 from August 2009, when it was set to expire, following a unanimous vote by university trustees. The action was taken during a meeting last month, according to The Star Press of Muncie. Gora arrived at the campus in 2004. The […]
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Demolition crews will begin letting air out of the RCA Dome as early as next spring. Deflating and removing the Dome’s fabric roof is the first step of a five-month demolition process,…
Nothing But Noodles, a Scottsdale, Ariz., restaurant chain, has been acquired by Noodles & Co. of Aurora, Colo., in a move that affects at least two Indianapolis locations. As a result of the merger, a Nothing But Noodles at 3625 E. 96th Street has been closed because of its close proximity to a Noodles & […]
First Internet Bancorp said today that third-quarter profit shot up 63 percent, largely because of its acquisition of Landmark Financial Corp. Indianapolis-based First Internet said it earned $664,325 in the period ended Sept. 30. The online bank closed its $12 million purchase of Landmark on Jan 1. Landmark was the parent of Landmark Savings Bank […]
How much will the Indianapolis Cultural Trail affect real estate downtown? What do you think of it? The $50-million bike and pedestrian path eventually will connect downtown’s five cultural districts. Funding comes…
After making a reputation rating highbrow restaurants in New York, the Zagat Survey now will help WellPoint Inc.’s health insurance customers rate their doctors. In January, WellPoint and Zagat will launch an online survey tool that will allow patients to share their physician experiences with other WellPoint customers. The tool will allow consumers to review […]
Calumet Specialty Products Partners LP, the Indianapolis company that produces specialized petroleum-based products, has bought Texas-based Penreco for $240 million. Penreco is a general partnership owned by ConocoPhillips Co. and M.E. Zukerman Specialty Oil Corp. that manufactures and markets white mineral oils, and other petroleum products and specialty solvents. It is headquartered in The Woodlands, […]
News late last week that a manufacturing plant in Wabash employing 800 will close before December continues the good news-bad news Indiana is experiencing with the industry. For every expansion announcement, there seems to be another about a contraction or outright closing. On Friday, GDX Automotive, an auto parts supplier headquartered in Farmington Hills, Mich., […]
Groups opposing Duke Energy’s coal gasification plant proposed for Edwardsport allege the utility and Gov. Mitch Daniels tried to sway regulators with improper contact and political pressure to get the $2 billion plant approved. They “are clearly trying to back-door the public decision-making process,” said Jerry Polk, an attorney representing a group led by Citizens Action Coalition. Polk this month filed a complaint with the Indiana Utility Regulatory Commission, citing a Sept. 25 letter an executive from Duke’s Charlotte, N.C.,…
In the top drawer of an old desk in the basement of Westfield Town Hall, there is a small steno-style notebook filled with fraying, hand-written pages. It’s where town planners kept track of building permits for more than a decade starting in the 1960s. This was a tiny town then, where most people knew all their neighbors and permits were organized by last names. Westfield is a lot different today. New developments are appearing all over the growing town, which…
A reader in South Bend recently argued that attention to growing wage inequality in the country should be part of these economic discussions. He is right-and given the proximity of the presidential election, we are all going to hear plenty about it. Here’s a bit of economic analysis of the situation. By itself, income data can tell a misleading story. The United States enjoys significant income variability over an individual’s life cycle. So, a snapshot across one year tells us…
