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Conseco Inc. expects to cough up another $35 million to settle a massive consumer lawsuit about changes to its life insurance policies. That brings the Carmel-based insurer’s total pre-tax expense on the case to $250 million-and there’s always a chance the bill could run higher, the company warned today. The settlement is subject to court […]
A Purdue University fund-raising campaign launched in 2000 has amassed $1.7 billion, $400 million more than the original goal. The fund-raising results, to be officially announced tomorrow, cap a stint by Purdue President Martin Jischke that includes a furious economic development effort advanced yesterday by the unveiling of a tech park project near Indianapolis International […]
Shares of The Finish Line Inc. fell 6 percent, to $9.03, this morning after the company announced that it lost $3.9 million in its first fiscal quarter ended June 2. The loss of 8 cents per share is less than the 9 to 11 cents the Indianapolis company expected. Finish Line reported a $4.4 million […]
Purdue Research Foundation has purchased a half-interest in 78 acres in AmeriPlex industrial park on the far west side to start a technology park that the university anticipates filling with as many as 75 businesses and 1,500 jobs. The announcement is expected during a 1 p.m. news conference at the site. AmeriPlex is south of […]
Marion County will begin sending out property tax bills tomorrow, filling hundreds of mailboxes with bad news. Homeowners are bracing for higher bills thanks in large part to the state’s decision a…
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 […]
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…
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 […]
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 […]
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’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, 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 […]
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 […]
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 […]
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 […]
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…
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 […]
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, […]
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 […]
