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Lilly tops drug companies in Vermont marketing

June 28, 2007

When it comes to throwing money at doctors in Vermont, Eli Lilly and Co. is tops. According to Vermont’s attorney general, Indianapolis-based Lilly exceeded all other drugmakers in 2006 for doling out cash, food and gifts to doctors, as well as hospitals, clinics and universities. The report did not specify how much Lilly gave. But […]

Blog: 500 Festival moving downtown

June 28, 2007

500 Festival moving downtown

June 28, 2007

The nonprofit volunteer organization that puts on the 500 Festival Parade and other events is moving its headquarters to an office building downtown. 500 Festival plans to move its operations to 21…

Haynes workers ratify contract with $4,000 lump sums

June 28, 2007

Workers at Haynes International Inc. in Kokomo will receive lump-sum payments of $4,000 each as a result of a three-year contract they ratified 362-85 yesterday. The pact with United Steel Workers Local 2958 includes a 12-percent general wage increase over the period and a boost in pensions of $300 to $400 a month, said District […]

Allison Transmission sold to two private equity groups

June 28, 2007

General Motors Corp. said today it has sold its Allison Transmission division to The Carlyle Group and Onex Corp. for $5.6 billion. Virtually all of Allison will shift to Washington, D.C.-based Carlyle and Toronto-based Onex. GM is keeping a production facility in Baltimore, Md. The sale, anticipated in a story published in the Financial Times […]

BP expansion could help stabilize Midwest fuel prices

June 28, 2007

The 1.7 million additional gallons of fuel per day anticipated from the proposed expansion of BP’s refinery in Whiting could bring needed stability to Midwest gas prices, energy insiders said this week. The $3 billion project will allow the northwest Indiana location to process heavy Canadian crude oil, according to the Post-Tribune of Merrillville. Industry […]

Martinsville commission turns down ‘children’s ranch’

June 28, 2007

Martinsville’s plan commission voted unanimously Tuesday to reject a proposal to rezone 133 acres from agricultural to planned-use status in order to clear the way for what developers Stephen Rosenbaum and Diana and James Tiffany said would be a ranch to serve children with autism and low IQs. Residents who packed city hall complained that […]

Oak Street Funding acquired for $75 million

June 27, 2007

Oak Street Funding, a Carmel company that makes loans to insurance agencies secured by commissions, has been bought by Bridge Finance Group of Chicago in a deal Bridge values at about $75 million. Oak Street will become a subsidiary of Bridge and Oak Street President Rick Dennen will report to Bridge CEO Randy Abrahams, Bridge […]

At last, Gatorade a done deal at AmeriPlex

June 27, 2007

More than a year after PepsiCo Inc. began scouting the Indianapolis area for a site on which to build a warehouse for its Gatorade drink, the New York company has bought 105 acres in AmeriPlex industrial park near Indianapolis International Airport and broken ground. PepsiCo will build 1.1 million square feet of distribution space at […]

UPDATE: Carmel met targets for annexation, court rules

June 27, 2007

The Indiana Supreme Court today found for the city of Carmel in a case regarding landowners who opposed annexation of their property in southwest Clay Township following a settlement between the city and an organization that calls itself No Ordinance for Annexation (NOAX), which filed a remonstrance and agreed to the settlement in 2005. The […]

Carmel wins appellate ruling in annexation dispute

June 27, 2007

Indiana Supreme Court today found for the city of Carmel in a case regarding landowners who contested a settlement between the city and people who owned property that was part of an annexation of territory in Southwest Clay Township. The Supreme Court found that not all conditions were met to defeat an otherwise valid ordinance […]

Thoughts on skyscraper’s new look?

June 27, 2007

The new facade for One Indiana Square was unveiled shortly before this blog began, so we haven’t discussed it yet. Here’s your chance. The project to replace the storm-damaged facade has begun…

UPDATE: Steak n Shake vulnerable to buyout, analyst says

June 27, 2007

A Wall Street analyst said today that Steak n Shake Co. might fetch about $20 a share, or $570 million, if the company ultimately is sold-a hefty premium to where it now trades. Investors have been buzzing about Steak n Shake’s future since a group of Dallas-based investors disclosed in a regulatory filing this week […]

UPDATE: Carlyle could steer Allison to military contracts

June 27, 2007

Allison Transmission could ramp up military sales under ownership by Carlyle Group and another private equity firm, a local business leader said.Although Indianapolis-based Allison emphasizes manufacturing truck transmissions, the company could see sales of transmissions for tanks and other military vehicles soar if Carlyle and Onex Corp. win an auction for the General Motors division, […]

Dutch packaging company buys Keller Crescent

June 27, 2007

Keller Crescent Co., an Evansville package printer and advertising firm, has been bought by Clondalkin Group of Amsterdam in the Netherlands for an undisclosed price. Keller employs 100 at a printing facility it operates at 6448 Saguaro Court on the northwest side. It mostly supplies Eli Lilly and Co. The company has 400 at a […]

Report: Private group bids most for Allison Transmission

June 27, 2007

A private equity consortium of Carlyle Group and Onex Corp. has bid the most for Allison Transmission, according to the Financial Times, which quoted anonymous sources. Owner General Motors wouldn’t comment, but the newspaper said the Carlyle and Onex bid was awaiting approval from the United Auto Workers last week. The other bidders-a party that […]

Gibson County urged to beat Terre Haute with intermodal

June 27, 2007

A consultant told business leaders in the Evansville area Tuesday that they should pounce on the chance to build an intermodal facility where freight containers can be exchanged between railroads and trucks, and do it before Terre Haute follows through on desires to launch a similar project. Morley and Associates business development director John DiDomizio […]

Investor spawns Steak n Shake takeover speculation

June 26, 2007

Steak n Shake Co. shares shot up 16 percent on Tuesday after a Dallas-based investment group reported it had amassed a nearly 10 percent stake in the company and plans to open talks on strategy, such as an acquisition or other “potential transactions to maximize shareholder value.” Affiliates of HBK Investments LP made the disclosures […]

UPDATE: D’Amico calls work force biggest challenge

June 26, 2007

Former Ivy Tech Community College executive Carol D’Amico this afternoon confirmed she’s been named president and CEO of Central Indiana Corporate Partnership’s new advanced manufacturing and logistics initiative. D’Amico will attempt to organize Indiana manufacturers and logistics firms and align them with the state’s colleges and universities. It’s the same strategy that CICP’s BioCrossroads initiative […]

D’Amico to head manufacturing initiative

June 26, 2007

Former Ivy Tech Community College executive vice president Carol D’Amico has been named president and CEO of Central Indiana Corporate Partnership’s new advanced manufacturing and logistics initiative. Sources this morning confirmed that CICP will announce D’Amico’s hire at a 4 p.m. news conference tomorrow on Rolls-Royce Corp.’s local manufacturing floor. In March, Ivy Tech looked […]

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