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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 […]
The new Indianapolis airport has been in the news lately (thanks to plans for special foot basins for Muslim taxi drivers). We haven’t yet discussed the airport, so here’s your chance. The…
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 […]
Foot Locker has filed plans to open a 3,300-square-foot store at the corner of Meridian and Washington streets downtown. The space currently is home to Flagstar Bank, which plans to move to…
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 […]
Officials for Speedway-based Zipp Speed Weaponry announced Sept. 21 that they have signed a letter of intent to be acquired by Chicago-based SRAM Corp.Both companies design and manufacture high-end bicycle components. Financial terms of the deal, which is expected to close within 60 days, were not disclosed. Zipp will maintain its headquarters on Main Street […]
Genesco Inc. is breaching terms of the deal to sell to locally based Finish Line Inc because Genesco is withholding certain financial information from Finish Line and won’t grant it access to Genesco’s chief financial officer and other financial staff, Finish Line said this morning. The statement was Finish Line’s first official response to last […]
Indianapolis-based Eli Lilly and Co. is suing Sun Pharmaceutical Industries Ltd. of India to stop Sun from selling a generic version of its hyper-disorder drug Strattera. Lilly, which filed the suit in Detroit on Sept. 20, said it would be “irreparably harmed” if the generic wasn’t stopped, according to Bloomberg. Sun’s application to the U.S. […]
Wolf Envelope Co. will invest at least $1.8 million and hire 26 additional workers over four years at its envelope printing operation in Angola, Indiana Economic Development Corp. said today. Wolf, based in Troy, Mich., will add high-speed color jet printers at the northeast-Indiana site. The plant employs 82 who print 1 billion envelopes a […]
When Dane Hudson sold his health benefits consultancy on Aug. 1, he hoped it was only his first of many mergers. Hudson, the founder of Strategic Health Plans Corp. in Carmel, sold his company to Illinois-based Arthur J. Gallagher & Co. for an undisclosed amount. Gallagher, a quiet company that is one of the nation’s largest health benefits firms, wants Hudson to buy up another three or four health benefits brokers in the next five years. Hudson also said he’ll…
Parents sifting through the dizzying array of college-savings plans must feel as though they’re playing their children’s Pin the Tail on the Donkey game: Make a blind stab and hope for the best. But a state tax credit that took effect at the start of the year seemingly is providing enough incentive to steer Hoosiers toward Indiana’s 529 offering despite the hefty fees that accompany it. The bill that created the 20-percent tax credit-equaling $1,000 on contributions up to $5,000-vaults…
LESSONS LEARNED JENNIFER Q SMITH Queen of Fuzz, AvantGarb Have It’s hard to take Jennifer Q Smith too seriously. Oh, she’s the consummate professional, to be sure-responding to an e-mail inquiry about her company with the speed and savvy you’d expect from someone who has run her own business for 20 years. Her marketing materials are slick, her shtick smooth. Her northeast-side work space is clearly well used. But the hot pink fuzz ball that looms in the entryway (dressed…
During 1990s Internet mania, some in philanthropic circles had high hopes for online fund raising. After all, if people were buying books and clothes on the Web, they might just as impulsively click on a not-for-profit’s “donate” button. “They always expected it was really going to take off,” recalled Eugene Tempel, director of the Center on Philanthropy at Indiana University. “But it never did.” That may be changing: A new study by the Indianapolis-based center finds that not-for-profits “may be…
