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A surge of new products could drive Cummins Inc. sales to $20 billion by 2012, CEO Tim Solso told The Republic, a newspaper in the southern Indiana city. That would be about twice the $11 billion the diesel engine maker reported for 2006. Much of the increase would come from light-duty diesels the company is […]
A landscaping company is moving into the long-vacant former General Cinema theater at Lafayette Square Mall. Mainscape Inc. has signed a temporary lease and is working on a long-term deal with Simon Property Group, the mall’s owner. The company tore…
Purdue University trustees voted unanimously to choose France Cordova as the next president, the university announced this afternoon. Cordova, chancellor of the University of California Riverside, will replace Martin Jischke after he retires June 30. Today’s decision ends a seven-month search. In a statement, Chairman Tim McGinley said Cordova’s resume was “truly out of this […]
Hours before this afternoon’s anticipated announcement that she will be named Purdue University president, France Cordova toured the West Lafayette campus this morning meeting faculty and students, according to the Journal & Courier of Lafayette. Neither Cordova nor Purdue trustees would confirm her appointment prior to the trustees’ 2 p.m. meeting, where they are expected […]
Indianapolis-based IT disaster recovery firm n/Frame said today that profit rose 21 percent in the first quarter from the same period a year earlier. Actual dollar figures for profit or revenue were not disclosed. But n/Frame Chief Operating Officer Robert J. Alcorn said his firm expects to exceed the 21-percent growth rate in 2007. n/Frame […]
Indiana exporters have more good times to look forward to if the value of the dollar continues to decline. The dollar is at $1.368 against the Euro-a record low, according to Bloomberg. And at least two economists-Jay Bryson of Wachovia Corp. and Kenneth Rogoff, a former International Monetary Fund chief economist-say it’s likely to shrink […]
WellPoint Inc. CEO Larry C. Glasscock plans to sell about $13.5 million in stock holdings over the next 10 months, the company announced late Friday. The plan to diversify his holdings comes less than a month before Glasscock will resign his CEO post and hand the reins of the Indianapolis-based health insurer to Angela F. Braly. […]
Darden Restaurants is closing seven restaurants in Indiana-including the Smokey Bones Barbeque and Grill locations in downtown Indianapolis, Avon and Bloomington, plus the recently opened Rocky River Grillhouse in Castleton. Other Indiana restaurants slated for closing are in Mishawaka, Merrillville and Evansville, the Orlando, Fla., company said Saturday. The company is closing 54 Smokey Bones […]
Apparently Darden Restaurants is no longer keen on the Hoosier dining scene. The Orlando, Fla.-based company announced this weekend it’s closing seven restaurants in Indiana, including Smokey Bones Barbeque and Grill locations in downtown Indianapolis and Avon, and the just-opened…
Toyota Industries Corp., a Japanese forklift manufacturer, has started a new unit, Indiana Hydraulic Equipment Corp., to make hydraulic valves and will build its first plant in Franklin. The $12 million, 58,000-square-foot facility will open in June 2008 and ramp up to employ 35, Toyota Industries announced today. The new unit will be advised by […]
Layoffs widely expected in Fort Wayne after Lincoln National Corp. bought Jefferson-Pilot Corp. of Greensboro, N.C., a year ago for $7.5 billion haven’t materialized. Instead, Lincoln National has added 150 workers to the 1,500 who remained in Fort Wayne after the financial services company moved its headquarters to Philadelphia in 1999. Forty more positions remain […]
There is a character in an old Hunter S. Thompson novel who shows up in every scene sweating profusely. Halfway through the book, he finally explains it-sweating is normal. It’s when he stops sweating that the alarm bells should sound. It’s a little like that with bankers. Except it’s not literally sweat, but worry. Bankers are always worried-about loan quality, interestrate spreads, renewed inflation, you name it. After all, the banking business is really business in general. How we collectively…
Bustling foot traffic at lunchtime and at night helps sustain many of the restaurants, shops and galleries in the vibrant
Mass Ave downtown neighborhood. But few of the Massachusetts Avenue shoppers and diners on foot venture east of the psychological
barrier that is College Avenue.
The 2007 session of the Indiana General Assembly is now history. Whatever else might have been involved in shaping its outcome, nothing was so determinative as the revelation in the closing days that property taxes-driven by the first application of trending, rising property values in general, the elimination of the inventory tax, and some old-fashioned political legerdemain on the part of some assessors in different regions of the state-were expected to rise an average of 24 percent for taxes payable…
A longtime sales representative for one of the roofing industry’s largest manufacturers alleges his former employer defrauded Indiana public schools out of more than $1.5 million. Brennen Baker charges that the company, Beachwood, Ohio-based Tremco Inc., circumvented Indiana’s public bidding laws for school projects; overcharged for its services; and billed for materials, services and equipment it never delivered. Baker was a Tremco sales rep for southwest and central Indiana from 1991 until January 2004. Baker, who later founded the Fishers-based…
Interactive Intelligence Inc. has come full circle. On May 2, Marion County’s Metropolitan Development Commission was slated to review a 10-year property tax abatement for the communications software maker. If the incentive is approved, Interactive Intelligence plans to use it to hire 637 people at an average of $32.50 per hour. According to its filings with the city, the company also will build a $15 million, 154,000-square-foot building next door to its current headquarters near Interstate 465 and West 71st…
You’ve already heard about electronic information and the law. The I. Lewis “Scooter” Libby trial, the recent firing of eight U.S. attorneys – even the Monica Lewinsky scandal-involved e-mail messages that were called into court. The rules on use of electronically stored information in legal cases used to be muddy, but amendments to the Federal Rules of Civil Procedure on Dec. 1, 2006, made it clear that electronically stored information can be requested and obtained during the discovery phase of…
Thrifty Threads store manager Tim Waldrip can hardly keep up when he puts stylish used clothes on the thrift store’s mannequins.
Customers snag them so quickly he has to change the outfits three to four times a day. Regardless of what its mannequins are
wearing, the not-forprofit shop on West 86th Street is flourishing. Sales in 2006 reached $336,000-a 24-percent increase from
the previous year. Now the Julian Center, the Indianapolis shelter for abused women that runs Thrifty Threads, is…
The new Indiana State Museum building–a 230,000-square-foot study in glass, steel and limestone–opened in 2002 to blockbuster
attendance, with nearly 260,000 of its 614,000 total visitors checking out the exhibits. Fast forward to its five-year anniversary
and the news isn’t so rosy.
