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ParaPRO LLC, a startup specialty pharmaceutical company that’s developing a novel treatment for head lice, has received a $2.1 million grant from the 21st Century Research and Technology Fund, the Indiana Economic Development Corp. announced today. The grant will allow the Carmel company to complete clinical trials of its medicine for head lice and their […]

A Virginia company says it has temporarily withdrawn its ambitious plans to build a hospital and hotel complex east of Brownsburg. Joe Cross, the construction manager for Metropolitan Medical Care Inc., confirmed today that the company has temporarily withdrawn its request for zoning approval from the Hendricks County Planning Commission, but that it intends the […]

Sallie Mae, the student lender based in Virginia, issued a statement today saying it expects a group of investors to follow through on a $25 billion acquisition agreement. The statement was a response to New York Times article today that said the consortium of J.P. Morgan Chase & Co., Bank of America and two private […]

The Kresge Foundation has committed $900,000 to WFYI, a key contribution that could help the Indianapolis public radio and television broadcaster polish off a $20.2 million campaign to help it complete a transition to digital broadcasting. If WFYI can raise a final $2.2 million, Kresge will become the last contributor, bringing the total to $20.2 […]

The Indianapolis Cultural Development Commission today approved funding intended to pay for a public art display of Chakaia Booker sculptures in Indianapolis next year. The commission gave the Arts Council of Indianapolis the OK to pull $85,000 from this year’s budget and committed to approving another $165,000 from 2008’s budget for the project. The council […]

Warren G. Lichtenstein, who has made a name for himself by launching hostile takeovers, has made his dissatisfaction with Conseco Inc. public in a Securities and Exchange filing. Lichtenstein said he plans to review investment in the Carmel insurer by his Steel Partners II fund and start discussions with Conseco managers and directors “concerning the […]

Clarian Health Partners is negotiating with Lakeshore Bone & Joint Institute in Chesterton about the possibility of creating a health care campus in northwest Indiana, according to the Post-Tribune of Merrillville. Indianapolis-based Clarian said the campus would include an orthopedic hospital. Lakeshore, which is owned by orthopedic physicians, has locations in Lake, LaPorte and Porter […]

After having survived the recent opening of Four Winds casino in nearby New Buffalo, Mich., northwest Indiana casinos now face another threat-the possibility of Illinois lawmakers allowing three gambling venues to open to help fund the Chicago-area’s mass transit system. If Illinois proceeds, the Indiana casinos, which recently spent heavily on upgrades to fend off […]

Flint & Walling Inc. plans to add 25 workers to its current roster of 130 at its headquarters in Kendallville in northeastern Indiana, the Indiana Economic Development Corp. said today. The $5 million expansion includes additional manufacturing and warehouse space. The company, which makes pumps, is owned by Louisville-based Zoeller Co. Flint & Walling has […]

Genesco Inc. this afternoon sent a letter to Finish Line Inc. saying it must not “continue to stall” and should move forward with completing its $1.5 billion cash buyout of the Tennessee company. The letter comes in the wake of recent moves by Finish Line and its bankers-New York-based UBS Financial Services Inc.- suggesting they’ll […]

Finish Line Inc. said this afternoon that its bankers have decided not to close on the financing for the company’s $1.5 billion cash purchase of Tennessee-based Genesco Inc. until they gain a better understanding of Genesco’s weakening financial condition. The move by New York-based UBS Financial Services may pressure Genesco to accept a lower price […]

Bridgestone Firestone Diversified Products plans to expand and relocate its corporate headquarters into a new building at 96th Street and Interstate 465. The company has signed a lease for 168,000 square feet in Parkwood West and plans to move from a 90,000-square-foot space in nearby Parkwood Crossing. Both properties are developed and owned by locally […]

The International Brotherhood of Teamsters is trying to enlist local workers in its attempt to wrest representation of United Airlines mechanics from another union. A Teamsters organizer says the union contacted 350 former United mechanics in the Indianapolis area over the weekend to try to persuade them to go along with an effort to abandon […]

Imagine four new lanes on Interstate 70 built only for trucks. That scenario could emerge from a feasibility study funded yesterday by the U.S. Department of Transportation. A coalition of Indiana, Illinois, Missouri and Ohio received $3 million to recommend ways to speed freight on the interstate. Missouri received an additional $2 million to study […]

A Texas consulting firm is telling LaPorte County officials in northwest Indiana that a proposed intermodal facility will require 5,000 acres-nearly twice the space initially anticipated, according to the Post-Tribune of Merrillville. Only about 500 acres would be needed for the actual facility, where goods would be shifted back and forth between railroad cars and […]

Flodraulic Group Inc. is moving its headquarters from 3131 N. Franklin Road on the far-east side to the Mount Comfort area of Hancock County a few miles east. The company, founded in 2003, distributes hydraulic, pneumatic and lubrication components. The $2.6 million project will result in Flodraulic adding 11 workers, according to the Indiana Economic […]