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The Indiana State Teachers Association Insurance Trust has agreed to co-brand its health insurance with Minnesota-based UnitedHealthcare. The deal gives UnitedHealthcare, the nation’s largest health insurer, access to the association’s 47,000 members. And it lets the teachers association’s insurance arm use UnitedHealthcare’s provider networks, internal computers systems and clinical services.
More than 100 courses now transfer from Ivy Tech Community College’s 23 campuses to Indiana University’s Bloomington campus, the institutions said today. The change also expands existing transfer agreements between regional Ivy Tech schools and IU campuses statewide. In addition, new agreements between the schools will allow Ivy Tech two-year degrees to count toward IU […]
Christopher Pfaff, Indiana Economic Development Corp.’s longtime director of business development has been named director of the Center for Business Support and Economic Innovation at Indiana State University in Terre Haute, the center said today. The center is ISU’s part of a new organization called the Terre Haute Innovation Alliance. The Alliance is a partnership […]
Merrillville gas and electric utility NiSource Inc. said today it has opted against a sale of its electricity unit. Through talks with potential buyers, no transaction met all of NiSource’s demands, the utility said. The company didn’t disclose which parameters could not be met. Media reports earlier this year named Duke Energy Corp. among other […]
Institutional Shareholder Services, a shareholder advisory service based in Rockville, Md., has urged Biomet Inc. shareholders to reject a $10.9 billion private-equity deal for the company because it is priced too low, The Wall Street Journal reported. A vote is scheduled June 8. Biomet is being acquired by LVB Acquisition LLC, Goldman Sachs & Co., […]
Toyota Motor Corp., which builds vans, pickup trucks and sport-utility vehicles in Princeton, isn’t likely to see its North American sales growth slow to only 1.6 percent this year, as it has predicted. Rather, the Japanese automaker could grow five times that fast, say analysts quoted by Bloomberg. Sales probably will slow from the 15 […]
Indianapolis interior designer Rowland Design Inc. has been hired by The Seasons Lodge & Conference Center Hotel in Nashville to plan 20 to 40 rooms to replace 60 lost to a massive blaze Jan. 2. Though fewer in number, the new rooms will be better, owner Andy Rogers told the Brown County Democrat. Authorities said […]
Costs associated with the April 20 acquisition of Adesa Inc. by a group of private equity funds caused first-quarter profit to rise only 3.9 percent, to $38 million, the Carmel-based auto auction reported late yesterday. Had it not been for the $2.4 million expense, earnings would have increased 11.3 percent. Kelso & Co., Goldman Sachs […]
The decision by Cheesecake Factory to open its second Indianapolis restaurant on the south side seems to validate the consensus among brokers that the area has been underserved by restaurants. The California-based…
California regulators are investigating whether a $950 million dividend sent by Blue Cross of California this month to its parent, Indianapolis-based WellPoint Inc., was excessive. The officials say no more than $141 million should have been paid to WellPoint, according to the Los Angeles Times. A California insurance commissioner imposed conditions on the former Anthem […]
Plenty of rooms were available in Lafayette-area hotels over the weekend despite nearby Indianapolis hosting the 500-mile race Sunday. That’s because so many hotels and motels have been built in Indianapolis and adjacent cities in recent years that demand for lodging has slipped in Lafayette, according to the Journal & Courier. One Lafayette hotel, the […]
Goshen-based food service distributor Troyer Foods Inc. said today it has bought Beasley Food Service Inc. of Bloomington for an undisclosed price. Troyer generates $160 million a year in sales, and Beasley, $17 million. Beasley will be a division of Troyer. Troyer serves Indiana, Ohio, Illinois, Michigan and Kentucky
Bemis Corp. of Neenah, Wis., said today it will invest $21 million to boost efficiency of its flexible packaging plant in Terre Haute. The project will include the addition of two ten-color presses and three extrusion lines this year. Twenty-nine workers will be added to the current roster of 1,000.
Indianapolis-based BioStorage Technologies Inc. said today it has raised $8.3 million in venture capital funding. Led by Radius Ventures of New York, other investors included Spring Mill Venture Partners of Carmel, Village Ventures of Williamstown, Mass., and Twilight Venture Partners of Indianapolis. BioStorage focuses on pharmaceuticals and other biomaterials, and recently expanded into Europe.
For most companies, medical costs eat up half or more of corporate profits. Employees in poor health hurt the bottom line through sick days and productivity losses from chronic disease, including diabetes, obesity, cancer and heart diseases. But on a hopeful note, corporate wellness programs often show a high return on investment. Du Pont saw that each dollar invested in workplace health promotion yielded $1.42 over two years in lower absenteeism costs. The Travelers Corp. claimed a $3.40 return for…
Carol D’Amico has been publicly silent since the board passed over her for president of Ivy Tech Community College in March.
But a letter her attorney dashed off a day after the vote says she deemed neither of the finalists for the job qualified and
the selection process ripe for a lawsuit.
LAS VEGAS-Redevelopment plans at Greenwood Park and Castleton Square malls call for popular new restaurants and a sought-after Swedish clothing retailer. The additions-which would add the area’s second locations for The Cheesecake Factory and fashion retailer H&M, along with new-to-the-market restaurants Stir Crazy and BJ’s Restaurant & Brewery-are named in materials Simon Property Group Inc. shared with retailers at the International Council of Shopping Centers annual convention in Las Vegas. The highest-profile new tenant at Greenwood Park Mall would be…
In the late 1950s, when Daniel O’Malia was a kid working in the first store his father owned, he would often keep busy weighing and bagging potatoes. But on occasion, a customer would ask for something the small grocery didn’t stock. Joe O’Malia would hand his son some change and tell him to run to a nearby Kroger grocery to pick up the item. He had the competitor’s prices memorized and always gave his son the right amount. “He would…
It can be intimidating to be tapped by a legend and charged with growing one of central Indiana’s best-known companies. But
David Barrett, three weeks into his role as executive vice president of Gene B. Glick Co. and less than half the age of its
still-working founder, says he isn’t the least bit nervous.
Perhaps the best thing that can be said about economic cycles-the boombust patterns of everything from housing to commodity prices-is that they keep economists and forecasters gainfully employed. John D. Rockefeller tried to eliminate them by controlling production and distribution. Franklin Roosevelt tried to cut them short by using the federal government checkbook. And Alan Greenspan, and now Ben Bernanke, keep trying to talk and cajole financial markets in the direction they think they should go. It hasn’t worked. Or,…
