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Indianapolis-based Eli Lilly and Co. and other multinational companies are socking away profits in overseas tax shelters and ultimately stripping the U.S. Treasury of about $50 billion annually, according to The New York Times. Last year, Lilly paid only 6 percent of its $3.4 billion in global profits in taxes, the newspaper said. That’s a […]
Two Indianapolis developers plan to break ground this week on a new Greensburg hotel catering to
The project, by locally based Street Corner Group and The Worthington Group, is adjacent to the $550 million Honda plant.
breaking ground this week
…
Batesville-based Hill-Rom will sell its hospital bed systems in Japan through a Japanese bed distributor, Paramount Bed Co. Ltd. , the companies announced today. Hill-Rom, a subsidiary of Hillenbrand Industries Inc., will hit Japanese markets in early September. The two companies also will explore opportunities in the hospital and post-acute care segments in the rest of the […]
Finish Line Inc. this afternoon said it plans to name Bob Dennis president after completing its $1.5 billion purchase of Tennessee-based Genesco Inc. Dennis currently serves as Genesco’s president, and Glenn Lyon is president of Finish Line. Lyon would remain president of the company’s Finish Line division, company spokeswoman Elise Hasbrook said. Finish Line Inc. […]
Oil prices could soar nearly 40 percent, to $105 a barrel, within a few months, according to analysts quoted by Bloomberg. While some skeptics doubt such a dire scenario, other experts fret that rising demand, military conflict in Iran and continued chaos in Iraq suddenly could cause supplies to tighten and prices to spike. “The […]
The Indiana Worlds Skating Academy has agreed to a 9-month lease extension for its space at Pan Am Plaza. The organization will remain downtown at least until April 2008, said Academy Executive Director…
Ball State University announced today that veteran economist Michael Hicks has been hired to direct its Bureau of Business Research. Hicks most recently was associate professor of economics at the Air Force Institute of Technology’s Graduate School of Engineering and Management at Wright-Patterson Air Force Base in Dayton, Ohio. He replaces Patrick Barkey, now director […]
Noblesville-based SafetyComm Solutions has agreed to be bought Paradigm Liaison Services LLC of Wichita, Kan., for an undisclosed price, according to Wichita Business Journal. SafetyComm offers safety awareness training programs for the oil and gas industries. Paradigm is a direct mail, public awareness campaign that targets households affected by pipelines or transmissions lines.
Ten-ounce cans of Steak n Shake chili have been included in an expanded recall of canned meat products blamed for botulism. Steak n Shake’s chili is made by Castleberry’s Food Co. of Augusta, Ga. The Food and Drug Administration last week recalled three hot dog chili sauces and seven other canned products made Castleberry’s after […]
Voracious demand for corn from ethanol plants springing up across Indiana and elsewhere in the Midwest is expected to swell this year the so-called Dead Zone in the Gulf of Mexico to a record 8,543 square miles-about the size of New Jersey. The zone at the end of the Mississippi River has little fish or […]
Not yet a believer in health savings accounts? Not to worry. The Indiana Department of Insurance is here to convert you. The insurance regulatory arm of Gov. Mitch Daniels’ administration is staging a symposium Aug. 3 to educate employers on the benefits of health savings accounts. Employers are increasingly pairing the tax-favored accounts, stuffed with a couple thousand dollars for each employee, with high-deductible health insurance as a lower-cost alternative to health plans with co-pays. Most employers also pay for…
Five leaders of Indiana’s life sciences industry offered their perspectives at the Indiana Convention Center June 26 as part of the Indianapolis Business Journal’s Power Breakfast Series. The panelists: Mike Arpey, managing director of global investment bank Credit Suisse’s Asset Management Division and manager of the $73 million Indiana Future Fund for BioCrossroads, the state’s life sciences economicdevelopment initiative. Ron Ellis, co-founder, president and CEO of Lafayettebased Endocyte Inc., a biotechnology company focused on the treatment of cancer through receptor-targeted…
On July 16, I followed a caravan of about 200 motorcyclists from downtown to the Indianapolis Motor Speedway. As I climbed out of my car in the IMS parking lot, I heard AC-DC’s “Hell’s Bells” blasting through the loudspeakers. Just another reminder it’s not your father’s Speedway anymore. More to the point, it’s not Tony George’s grandfather’s Speedway anymore. Think about it. No sooner than George and his IMS team bid adieu to Formula One, they said hello to MotoGP,…
You people must drink coffee. And a lot of it. That’s the only reason I can find that Starbucks would open another store within a few hundred yards of two existing locations. And I am not talking about Manhattan, where 12 million people walk around on any given business day. This is happening in downtown Indianapolis, where midweek foot traffic might reach a few hundred thousand. Here is what I wrote about Starbucks in mid-February: “The near-term risk in Starbucks…
When a Butler University finance class starts investing in the stock market this fall, it won’t be Monopoly money that’s on
the line. In a three-year pilot program that is unique for a school of Butler’s size, a group of senior finance students will
use $1 million from the university’s endowment fund to invest.
One improvement BAA made in Indianapolis never got much attention: It tried to weed out patronage jobs. Former airport board member Gordon St. Angelo thought it was one of the most significant benefits of taking airport management out of municipal hands. “I think a major improvement was the streamlining of what had been a semi-patronage type of program,” St. Angelo said, referring to BAA’s eliminating some nonproductive employees and practices. Municipal agencies such as airports’ becoming dumping grounds for politicians’…
The influential U.S. News & World Report college rankings come out next month, a rite of summer that causes many college administrators to groan. Some administrators in Indiana and elsewhere, in fact, have grown so disenchanted with the survey-and see it as so flawed-that they have decided they’ll no longer participate in at least part of it after this year. Nearly 100 private schools nationwide-including DePauw University and Earlham College in Indiana-are pulling out of the peer-assessment portion of the…
Downtown’s anemic office market has shown signs of life over the last few months, but that doesn’t mean companies are taking more space and pushing occupancy rates higher. Credit goes to the government. State and local agencies absorbed roughly 175,000 square feet of office space during the second quarter of 2007, pushing the vacancy rate down to 15.9 percent, roughly a point lower than in the first quarter. The deals include 50,000 square feet for the Public Defender’s Office in…
Who asked for televisions to be installed in every restaurant in central Indiana? I’ve been to a lot of them, standing in lines, overhearing conversations with wait staff, chatting with the bartender, and never once, not a single time in my whole life, did any customer ever say anything like, “You know, what this joint really needs is a TV!” I can understand places where you’d expect to find TVs, and indeed where you go to watch TV on special…
