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By now, David Marsh might be regretting he ever decided to take on former employer Marsh Supermarkets Inc. in court. Since
he filed his lawsuit last fall charging the company his grandfather founded had shortchanged him on severance, the company
has stormed back with a blizzard of allegations.
It doesn’t have a headquarters or any full-time employees yet. But local life sciences startup INphoton LLC has attracted something equally important: an experienced manager. This month, INphoton hired Steven Plump, Eli Lilly and Co.’s former chief marketing officer, as its CEO. Plump, who retired from Lilly in 2006 after a 30-year career there, hopes to commercialize the high-tech research imaging techniques that INphoton’s founders discovered in Indiana University laboratories. In the process, INphoton could cut pharmaceutical companies’ cost of…
Conseco sells that coverage, called long-term-care insurance. But right now, it wishes it didn’t. The Carmel-based company has been losing millions of dollars a month on long-term-care policies, as the costs of providing care have outstripped the premiums collected. Conseco also is facing lawsuits and an investigation by a congressional committee into whether it wrongly denied customers’ claims under its long-term-care policies. The troubles have kept Conseco’s stock price depressed, furthering speculation that the company might be acquired. “It’s certainly…
It was a terrible storm. Emerging from his tattered tent at a Renaissance re-enactment camp more than 20 years ago, Ken Lawrence surveyed the decimated landscape, with only three oddlooking round structures surviving the 60-plus-mile-per-hour winds. Intrigued by what kind of structure withstood such a violent blow through this tent town, Lawrence poked his head inside the Mongolian-style yurt, a round tent-like structure with a uniquely engineered roof. “I was amazed they were still standing,” Lawrence said. “Utterly amazed.” Immediately,…
The fact that Pacers Sports and Entertainment has tapped Jim Morris as special adviser shows how daunting the franchise’s
challenges have become, marketing experts say. They say the team’s problems on and off the court have shrunk its fan base
and weakened support among business and government leaders.
Morris has no point guard skills I’m aware of and, ultimately, it will be up to the new head coach, O’Brien, to improve the on-court product in a way that’s more palatable to the Pacers’ eroding fan base. But as a point person in engaging the community-in particular the corporate community-there are few, if any, people in this city who have both the contacts and the respect of which Morris can boast. Even after five years away from Indianapolis trying…
Many people expected the 2007 season to be the swan song for Verizon Wireless Music Center after venue owner Live Nation put
the the popular amphitheater on the block in December. But no acceptable offers have been received, and several local brokers
say the unofficial asking price of more than $40 million is outrageous.
The humidity and mercury are rising as a slew of summer music festivals tune up. There’s bluegrass in Brown County, jazz in Military Park. But all the music events-even those with years of history-struggle to break even. Blame uncertain weather, large price tags and fickle fans. “As a general rule, only very large pop music festivals make money,” said Christopher Hunt, a professor at Indiana University’s arts administration program. “Smaller festivals of every kind-jazz, pop, classical-almost always lose a good…
Here is a test for you. The state government sends you a check for $2.5 million. What do you do with the money? According to the Associated Press, Sabrina Walker received such a check from the state of Minnesota. She then “bought a $500,000 certificate of deposit, funded two retirement accounts, [and] bought a $500,000 Treasury bond.” Prosecutors claim she also bought $5,500 in jewelry, and spent $3,817 at Best Buy and $2,000 on limousine services. This prudent woman is…
Carmel-based Oak Street Mortgage, which not long ago was a high-flier poised to go public, filed for Chapter 11 bankruptcy this morning in federal court. Oak Street in December sold most of its assets to Kansas City, Mo.-based Novastar Financial Inc. amid a meltdown of the sub-prime mortgage market. Subprime lenders like Oak Street make […]
Attendance at Conner Prairie’s first two events of the summer has shot up, boding well for total attendance numbers in 2007-the museum’s second year of independence from Earlham College. More than 8,000 guests showed up for Civil War Days, a two-day reenactment event, in late May, a 166-percent increase over the previous year, when rainy […]
Not that this will come as much of a surprise to cynical motorists, but gasoline prices are likely to stay high this summer, according to oil refining firm Countrymark Cooperative LLP. Yes, it’s the usual reasons-refinery problems, geopolitical tensions, OPEC production restrains and summer travel demand. And, yes, the hurricane season could disrupt production. “The […]
The Metropolitan Plan Commission in Muncie last night unanimously approved rezoning 35 acres for a life science facility that would cost $70 million and create up to 170 jobs. However, the identity of the company or organization planning the project wasn’t made public, according to The Star-Press of Muncie. Speculation is circulating in the city […]
Since crews finished clearing the old Atlas Supermarket site in March, the corner has been conspicuously quiet. The lack of construction work has helped fuel speculation that the deal for a Fresh…
A private college system plans to move into the Lexington project at Meridian and 12th Streets downtown. Brown Mackie College has executed a lease for 25,000 square feet in the 1921 building that…
Lauth Property Group may have ended its contentious battle with Bloomington billionaire Bill Cook this week to develop the $382 million French Lick casino and hotel project, but its real battle involving the Orange County resort may have just begun. The Indianapolis-based developer still faces a breach-of-contract claim seeking $100 million by Chicago-based Merit Management, […]
Chuck Schalliol, the state’s first budget director, will join Baker & Daniels next month, the Indianapolis law firm said today. The former Eli Lilly and Co. executive and BioCrossroads president, who is trained as a lawyer, will focus on life sciences, venture capital and corporate finance.
A group of private equity firms has upped its offer to buy Biomet Inc. after a Maryland shareholder advisory firm urged shareholders to reject the original bid of $10.9 billion. Biomet said today it accepted the $11.4 billion offer from LVB Acquisition LLC, Goldman Sachs & Co., Kohlberg Kravis Roberts and Texas Pacific Group. The […]
Minor injuries sustained by Poindexter Excavating Inc. employees on Friday resulted in the Indianapolis company stopping site work at the Honda Motor Co. assembly plant at Greensburg until Tuesday. A piece of equipment hit a truck, although the exact cause couldn’t be determined, according to the Greensburg Daily News. Work has resumed on the $550 […]
