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A buy recommendation from CNBC “Mad Money” host Jim Cramer caused Cummins Inc. stock to shoot up $7.89 per share today. The 10 percent run-up is the largest increase in one day the Columbus diesel engine maker experienced in almost four years, according to Bloomberg. His recommendation came during a show broadcast April 20. When […]
Summer travel could become pricey if Americans don’t lose their appetite for gasoline. Demand is rising at twice the rate of a year ago, according to Bloomberg. Meanwhile, refinery fires, maintenance and electrical failures have reduced inventories to the lowest point in two decades, based on days of demand in reserve. The upshot is that […]
Development plans could be in the works for another large piece of land along Michigan Road. The 18-acre North Park Masonic Lodge property at 5555 Michigan Road is under contract. Read more.
Businesses, including Indianapolis-based Eli Lilly and Co., have poured $1.7 million into coffers of chairmen of U.S. House of Representative committees since the start of the year. That’s nearly twice as much as corporations gave when Republicans controlled the House during the same stretch of 2005, according to Bloomberg. Interests including pharmaceutical makers, like Lilly, […]
Bank of America likely will boost small-business lending in the Indianapolis area if it follows through on its $16 billion acquisition of LaSalle Bank, banking observers say. However, they believe it would delay building a retail branch network until it could buy another bank with an established branch presence, local experts say. Jim Young, CEO […]
A big Emmis Communications Corp. investor suggested in a regulatory filing today that the Indianapolis company should sell trophy radio properties to unlock value for shareholders. Elkhart-based Martin Capital Management responded to growing rumors on Wall Street that Emmis is considering selling New York City’s WQCD-FM 101.9, an underperforming smooth jazz station. CL King & […]
Community Health Network and Regenstrief Center for Healthcare Engineering at Purdue University announced this morning a $1.5 million strategic partnership to identify research opportunities for improving health care delivery. Details will be announced at 1:30 p.m. today at a conference on Purdue’s West Lafayette campus. Indianapolis-based Community employs more than 10,000 people at its five […]
Even if you haven’t driven North Keystone lately, you know the big story here is Glendale. Fences are up and demolition has begun. Locally based Kite Realty Group is transforming the enclosed…
Development plans could be in the works for another large piece of land along Michigan Road. The 18-acre North Park Masonic Lodge property at 5555 Michigan Road is under contract. The lodge is selling the property without a broker. In…
The planned acquisition of LaSalle Bank by Bank of America announced this morning would likely mean an expansion of small-business lending in Indianapolis, said a banker who competes in the market. Jim Young, president and CEO of Indiana Business Bank, said Bank of America would build on the foothold established in Indianapolis by Chicago-based LaSalle. […]
Genesco Inc., the Nashville, Tenn., parent of Indianapolis-based Hat World, has rejected the $1.2 billion buyout offer extended by Foot Locker Inc. on Friday. Genesco directors voted unanimously that the bid of $46 per share from the New York shoe retailer “is not in the best interests of the company’s shareholders,” the company announced this […]
Hhgregg Inc. has committed to negotiating a contract with Zimmerman Advertising of Fort Lauderdale, Fla., to take over one of Indiana’s largest advertising accounts, the Indianapolis company said today. The agency that handled the account for 24 years, Pearson McMahon Fletcher England in Indianapolis, decided earlier this year to not pursue the contract. Gregg said […]
LaSalle Bank, which has offices downtown and in Carmel, will be spun off by its Dutch Parent, ABN Amro, to Charlotte, N.C.-based Bank of America for $21 billion as part of a larger deal considered to be the world’s biggest financial-services takeover. ABN Amro this morning said it would back a $91 billion acquisition offer […]
The Indianapolis Museum of Art took over administration this month of a national effort to develop an online database that could make art more accessible to the masses. The two-year project, which got rolling last fall with $1 million in funding, revolves around a Web site that allows aficionados to look at images of artwork held by 10 museums and input descriptions in their own words. Museums then could use the free software for search engines where everyday people can…
In my opinion, the greatest power of the Internet is the ability to connect. There has never been another tool so remarkably suited to communication. Companies, through the use of instant messaging, are encouraging online conversations for a of issues, from customer service to sales. Email has become the standard of communication, facilitating nearly instant response and an electronic paper trail not easily duplicated with phone calls. Wikis, collaborative Web site development tools, are offering easy and effective collaboration at…
A chicken in every pot and a car in every garage. Herbert Hoover never said those words, but they were part of his presidential campaign literature in 1928. Should they be the goals of American politics? Should we subsidize the price of chicken to keep poultry and grain farmers happy while consumers pay less at the grocery? How about lowering the cost of owning an automobile by allowing automobile interest payments to be refunded as tax credits? Along with these…
In October 2005, Indiana’s Medicaid program touted that it could save the state $29 million a year through disease management, a program aimed at reducing the medical costs of patients with chronic illnesses. But now, those estimated savings quietly have been slashed more than 75 percent. And one critic of Indiana’s program says it is likely achieving even less in savings. The debate over the effectiveness of the Indiana Chronic Disease Management Program comes as the state moves to triple…
By the time this column hits newsstands, I’ll be in Manhattan with my son Austin (the writer), who’s been accepted for admission to a university there. As we have at competing institutions in Indiana, Michigan, Massachusetts and Chicago, we’ll sit through the dog-and-pony show, tour the campus, talk with financial aid and chat with professors and students. A few weeks ago, it was Austin’s twin brother Zach (the photographer) who went college shopping. The three of us and one of…
Thanks to the Indiana Department of Workforce Development’s increased collection efforts, the state has recouped millions
of dollars in unpaid unemployment insurance taxes since January 2006. But one in eight Hoosier businesses remains delinquent.
Indianapolis businessman Barton Kaufman is auctioning off 26 paintings by notable New York artist LeRoy Neiman. Kaufman plans
to donate the money to Indiana University, where he earned an undergraduate degree in 1962 and law degree in 1965.
