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A Colorado company said yesterday it has acquired Indiana Fiber Works and plans to diversify its product offerings. Louisville, Colo.-based Zayo Bandwidth wouldn’t say how much it paid for the Indianapolis company, which was a subsidiary of General Electric Capital Corp. Indiana Fiber Works sells mostly “dark” fiber-optic service; that is, high-speed data lines not […]

Sardar Biglari, the San Antonio investor who has thrown his weight around at Applebee’s and other restaurant chains he owned stock in, said yesterday that he and an associate have been nominated by a group he heads to fill board seats at Steak n Shake Co. Inc., the struggling Indianapolis hamburger chain. The nominations are […]

International Automotive Components Group North America announced today that it will shutter its manufacturing plant between Indianapolis and Columbus in Edinburgh. The 200,000-square-foot facility employs nearly 400 who supply door trim, instrument panels and other components to General Motors Corp. and Chrysler LLC. Based in New York, International Automotive Components is consolidating the auto parts […]

Advantage Health Solutions Inc. has entered a six-year agreement with the Indianapolis Colts Inc. that includes naming rights to the area for club ticket holders on the west side of Lucas Oil Stadium, the Indianapolis-based health insurer said today. The deal also includes radio, television and print advertising, and the opportunity for Advantage to work […]

WellPoint Inc. today announced a restructuring of the company and several executive changes. A new commercial business unit, led by Ken Goulet as CEO, will include local group customers, national accounts, and specialty products, like dental and disability, among other services. Goulet had been president of WellPoint’s national accounts business. The new consumer business unit, […]

Development leaders in northwest Indiana want to pounce if commissioners in Cook County, Ill., follow through on a proposal to raise sales taxes to 11 percent-the highest in the nation-to plug a budget shortfall. If commissioners raise the tax at a meeting Oct. 16, the level will be nearly twice the 6 percent sales tax […]

Three finalists have emerged for the CEO position at the Indianapolis-Marion County Public Library, the trustees announced today. They include: -interim CEO Laura Bramble, who has worked within the Indianapolis-Marion County system in capacities including chief operating officer and directed the Avon-Washington Township Public Library. -City-County Councilwoman Jacqueline Nytes. A former chief financial officer of […]

Fortune magazine today named WellPoint Inc. CEO Angela Braly as the fourth-most-powerful woman in business. Braly, 46, took over from Larry Glasscock on June 1. WellPoint, with $57 billion in revenue, is the country’s largest company run by a woman. She still ranks behind women who lead companies with a little more cultural cache: PepsiCo […]

Steel Dynamics Inc. announced yesterday that it has acquired privately held OmniSource Corp. for $1 billion in cash and Steel Dynamics stock. Both companies are headquartered in Fort Wayne. OmniSource is one of the nation’s largest steel recyclers, and will operate as a subsidiary of Steel Dynamics. OmniSource President and CEO Danny Rifkin will become […]

C.P. Morgan Communities LP, the Indianapolis area’s largest home builder, this morning confirmed it has made a “workforce reduction” as a result of the slowing housing market. The privately held company would not reveal how many jobs it cut or the types of positions eliminated. According to IBJ’s 2007 Book of Lists, C.P. Morgan filed […]

Eli Lilly and Co. launched a three-year collaboration today with GE Global Research, the central research and development unit of New York-based General Electric Co. The companies will develop diagnostic tools to predict patients’ response to targeted cancer therapies. Lilly is in the testing phase for compounds that would aim chemotherapy at specific cancer cells; […]

The U.S. Supreme Court allowed Eli Lilly and Co. to keep its patent on its top-selling drug Zyprexa today by denying an appeal by two generic drug makers seeking to break the patent. Without comment, the court denied a request by units of Dr. Reddy’s Laboratories Ltd. and Teva Pharmaceutical Industries Ltd. for the justices […]

Charlotte, N.C., behemoth Bank of America has closed its $21 billion acquisition of Chicago-based LaSalle Bank Corp. LaSalle, which was owned by Dutch banking giant ABN Amro, has six offices in Indiana, including at least one in the Indianapolis area. LaSalle focuses on commercial services in Indianapolis. Bank of America had no local presence.

Major Tool & Machine Inc. will invest $20 million and hire 50 workers to expand near its headquarters at 1458 E. 19th Street northeast of downtown. The expansion will add 150,000 square feet to house automated production equipment, Indiana Economic Development Corp. announced today. The announcement confirms a report Sept. 11 on IBJ‘s real estate […]

International Truck and Engine Corp. and the United Auto Workers have failed to agree on a new contract, but the 3,700 employees represented by the UAW are expected to continue working, the Warrenville, Ill., company said today. The contract expired today. In Indiana, International employs 570 UAW workers at an engine assembly plant and 400 […]

Indy Racing League and Indianapolis Motor Speedway officials tomorrow are expected to announce a restructured earnings package for teams that includes a 20-percent increase in the purse for the Indianapolis 500. Sources close to the league said they expect next year’s race winner to net $2 million, up from $1.64 million this year; 33rd place […]

Grain elevators throughout the state are merging to gain advantages of scale, according to The Journal Gazette. The 268 grain-storage companies operating in 2006 was a 16 percent drop from five years earlier, the Fort Wayne newspaper reported. The elevators, many of which were started in the 1920s, are striving to gain better access to […]