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Student loan giant Sallie Mae, which employs 2,300 workers in Fishers and another 500 in Muncie, said today that the private-equity buyers who offered to buy it for $25 billion want to back out of terms of the agreement. Earlier this month, Virginia-based Sallie Mae warned the investors to follow through with the deal. The […]

Janitors working in Market Tower downtown walked off the job yesterday in their ongoing attempt to organize under the Service International Employees Union. Union backers have complained for months that the company that cleans the tower, Executive Management Services, is discouraging its workers from joining the union. Both the union and the Indianapolis janitorial company […]

David Frick, chairman of the Indiana Stadium and Convention Building Authority, is rejoining Baker & Daniels LLP. The 63-year-old Frick, who will continue leading the authority, left the law firm as managing partner in 1992 after a 20-year career there. He retired from WellPoint Inc. a few years ago. His corporate practice will concentrate on […]

Officials for the Indiana Invaders track and running club and the city of Indianapolis announced yesterday that a championship cross-country course and training venue will be developed along the banks of the White River downtown. Ground was broken this week on the project, which is being financially supported by locally based retailer The Finish Line, […]

The pay system to be used by Honda Manufacturing of Indiana at its new assembly plant in Greensburg will start workers at $14.84 an hour and automatically ratchet up wages over two years to $18.55. The Japanese automaker also plans to include annual bonuses based on how individuals perform and how the company fares, according […]

It’s official-Chakaia Booker will be the next big public arts display in Indianapolis. The Arts Council of Indianapolis said this afternoon that the New York-based artist will be paid $140,000 to produce nine over-sized works for the show. Booker’s trademark is large sculptures built on metal frames covered with cut, shaped and molded tires. The […]

Shareholders of the company that owns WFBQ-FM 94.7 and two other Indianapolis radio stations yesterday approved a $19.5 billion acquisition offer from a group of private equity firms. In addition to the local classic rock powerhouse, Clear Channel Communications Inc. owns local alternative rock station WRZX-FM 103.3 and WNDE-AM 1260, which broadcasts a sports format. […]

Eli Lilly and Co. has agreed to pay $18 million to settle a bitter dispute it had with New York-based Emisphere Technologies Inc. Emisphere announced the settlement agreement this morning but gave no details. The agreement still needs approval from U.S. District Court Judge David Hamilton in Indianapolis. In January 2006, Hamilton ruled that Indianapolis-based […]

Novae Corp., a manufacturer of utility trailers, commercial lawn care attachments and industrial material handling equipment, plans to build a 12,000-square-foot addition to its plant in the northeastern Indiana town of Markle. The company plans to create 100 jobs by 2010, according to the Indiana Economic Development Corp. Novae now employs 80. Novae received commitments […]

The U.S. Air Force has awarded Rolls-Royce a contract valued at $19.6 million to develop high-temperature, high-pressure ratio compressor technologies for jet engines. The work, which will be conducted at the British company’s research unit on the west side, will focus on engine architecture for planes used in intelligence, surveillance and other sub-sonic missions. The […]

Dallas-based Affiliated Computer Services Inc. plans to a data outsourcing operation in Anderson, creating 500 customer service jobs over the next two years, said city economic development consultant Greg Winkler. Officials from the data outsourcing company, along with Gov. Mitch Daniels and Anderson officials, are scheduled to make a formal announcement this afternoon.About 200 jobs […]

Fineline Printing Group in Indianapolis has spent $2.5 million on a Heidelberg Speedmaster printing press, an investment that will require hiring 25 more workers in the next two years, Fineline said yesterday. The German-built offset press is the most productive in its class, said Fineline, which is on the northwestside. Family-owned Fineline counts Eli Lilly […]

The Indiana Farm Bureau today proposed cutting property taxes by about a third, or more than $2 billion, and replacing the lost revenue with higher income and sales taxes. Under the proposal, costs for schools, welfare, local courts and the “rainy day” fund would be shifted from local government to the state. The state personal […]

Mark Ristow, a 62-year-old Indianapolis resident, has been charged by the Securities and Exchange Commission with defrauding mutual savings banks and the banks’ depositors, and has pleaded guilty to similar charges leveled by the U.S. Attorney’s Office in New Jersey, the SEC said today. Through various means, Ristow misrepresented himself in accumulating shares of 23 […]

The Indianapolis Colts yesterday announced a sponsorship deal with Ohio-based Huntington Bank that includes sponsorship of the new Lucas Oil Stadium’s west gate, which will be named and themed for the bank. Terms of the deal were not released, but sources close to the deal said it was a multi-year, multi-million dollar deal. In September, […]

The United Auto Workers has launched a national strike against General Motors Corp., GM spokesman Dan Flores said today. It’s the first nationwide strike during auto contract negotiations since 1976, when Ford Motor Co. plants were shut down. Workers walked off the job and began picketing today outside GM plants after the 11 a.m. UAW […]