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Columbus diesel engine maker Cummins Inc. today reported a 5.9-percent increase in first-quarter profit from the same period a year ago. The $143 million in net income was driven mostly by its electrical power generation and distribution business. Sales of engines for heavy trucks declined due to trucking firms’ stocking up on trucks before new […]
Too many academic programs with too few students are diluting Indiana State University resources, its trustees believe. So, the board is following through on a plan to cut the number of programs to about 150 from the current 214, according to The Tribune-Star of Terre Haute. A review found that half of the programs attract […]
What better way to wake you up on a rainy Thursday than with a little coffee news? Here goes: Borders plans to transform its coffee shop and cafe downtown into a Seattle’s Best Coffee, which is set to open in…
About 15 of the 44 employees at Pearson McMahon Fletcher England will lose jobs by the end of June due to a decision by the Indianapolis advertising firm not to pursue a renewal of its long-time HH Gregg account. Included in the 15 are Executive Vice President Larry Fletcher and Chief Financial Officer Terri Brown, […]
Indiana led the Midwest in venture capital received by health care startups in the first quarter, according to BioEnterprise, a Cleveland group that helps bioscience companies. Four Indiana health care companies lured $94.5 million in the period. Targanta Therapeutics Corp., an Indianapolis company developing antibacterial agents, raised $70 million of the sum. Following Indiana was […]
A long-expected announcement that IBM will locate a call center in Daleville is being scheduled for Monday. The building, formerly owned by Burlington Motor Carriers, will host as many as 500 workers, according to The Star Press of Muncie. The center is thought to handle calls from IBM business customers.
Harman International Industries Inc. has agreed to be acquired by two private equity firms for about $8 billion. Harman/Becker Automotive Systems, a car audio manufacturing unit of the Washington D.C.-based company, is located in Martinsville, where it employs about 500. The plant in February said it would cut about 84 jobs because it is moving […]
Stock in ITT Educational Services Inc. shot up 8.4 percent this morning, to $91.80 a share, after reporting today that first-quarter profit rose 35 percent. The $27.6 million in net income came on a nearly 16-percent increase in revenue, to $204.2 million. The Carmel technology-oriented post-secondary school attributed the gains partly to improved student retention.
Elevating Jim Cornelius from interim to permanent CEO of Bristol-Myers Squibb Co. makes the drug giant more expensive for another company to buy, an analyst told Bloomberg. Michael Krensavage of Raymond James & Associates said this morning’s announcement won’t stop speculation that the New York company could be a takeover target. But Cornelius now is […]
Indianapolis Downtown Inc. Director of Real Estate Terry Sweeney doesn’t normally play favorites. But it’s a different story with Capital Grille. He’s dined at the new restaurant attached to the Conrad Indianapolis four nights in a row. Property Lines got…
Drug giant Bristol-Myers Squibb Co. has elevated former Guidant Corp. chairman and CEO Jim Cornelius to permanent CEO. The 63-year-old Zionsville businessman had served as interim CEO of the New York company the past eight months. He has been a Bristol-Myers director since January 2005. Bristol-Myers fired CEO Peter Dolan in September after the company […]
ITT Educational Services Inc. posted first-quarter profit of $27.6 million, up nearly 35 percent over the year-ago period. Revenue increased almost 16 percent in the quarter ended March 31 to $204.2 million. Both figures were driven partly by improved student retention. The Carmel technology-oriented post-secondary school also saw a 13-percent increase in new student enrollment.
Dow AgroSciences, the Indianapolis-based agricultural arm of Midland, Mich.-based Dow Chemical Co., saw profit rise to $282 million from $216 million a year earlier due mostly to sales volume. A mild spring allowed European farmers to plant crops early, and sales of sunflower seeds were boosted by demand for healthy oil in the U.S. and […]
Solid demand strengthened manufacturing in the Midwest from mid-February to early April, according to the Federal Reserve Bank’s Beige Book report on the economy. An exception is trucking, where new emission requirements are denting sales. Overall, expansion continued at a modest pace as consumer and business spending as well as hiring continued at a modest […]
The addition of 39 regional jets and resulting increase in passenger traffic helped fuel a 14.1-percent improvement in first-quarter profit for Republic Airways Holdings Inc., the Indianapolis carrier said yesterday. The parent of Chautauqua and Republic airlines and Shuttle America reported $19.3 million in net income. Republic also said its plans to add 54 regional […]
A South Deerfield, Mass., company that manufactures shipping and transit cases for the military and industry plans to open a plant at Mount Comfort Commercial Park east of Indianapolis, according to Hancock Economic Development Council. Hardigg Industries Inc. will start with 30 workers and build to 75, using the location to serve its Midwest customers. […]
A rating of inpatient hospital satisfaction placed Indianapolis fourth in the country, behind only Oklahoma City, Okla., Milwaukee and New Orleans. The periodic survey by Press Ganey Associates of South Bend didn’t divulge specifics about Indianapolis. Nationally, satisfaction increased to an index of 84.2, has largely trended sideways for two years.
The Dow Jones industrial average topped 13,000 for the first time today. Having closed at 12,953.94 yesterday, the venerable index trended upward and broke the mark at 10:04 a.m., then lingered over 13,000 much of the morning.
