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Cable companies Comcast Corp. and Insight Communications Co. Inc. have agreed that Comcast will take over virtually all of the territory in Indiana now managed by Insight, the companies said this week. The transition, which will take place at an unspecified date late this year, includes Insight customers from Anderson to Bloomington to Lafayette. Insight […]
Dismal February job numbers widely reported across the state several days ago distort what actually happened, according to Morton Marcus, director emeritus of the Indiana Business Research Center at Indiana University. Rather than having 7,400 fewer jobs than in January—the worst performance behind only Ohio—employment actually increased. The rub comes in how government statisticians adjusted […]
Minority-owned companies have snagged 22 percent of the $749.1 million in contracts committed through 2006 for the midfield terminal project at Indianapolis International Airport, the airport authority said today. Minority companies received $167.5 million of the $749.1 million. Slightly more than half of the 189 minority companies that received the contracts are owned by women. […]
Eli Lilly and Co. was among 40 companies cited in a study by Clarity! Communications of Canada Inc. for describing executive pay in prose that’s all but indecipherable to the common person. As a result, the companies in the study violated new securities rules that prevent companies from using jargon to report how top executives […]
Bonuses for WellPoint Inc.’s 42,000 employees now hinge at least in part on whether the company’s customers actually get healthier. The Indianapolis-based health benefits company announced this morning that it has linked every worker’s compensation to how well its patients do in 20 clinical areas. WellPoint claims it is the first company to launch such […]
CTI Group Inc. lost $1.1 million last year as customers cut back on the data processing services it offers, and because the company received less revenue from enforcing its patents. The loss compared to a $523,134 profit in 2005. The downtown company, which also sells telecommunications software, said revenue declined to $12.8 million from $15.3 […]
Dura Automotive Systems Inc. of Rochester Hills, Mich., said today that its Brownstown plant is among four it plans to close to improve efficiency. The Brownstown site, which employs 114 workers manufacturing spare tire carriers, winches and toolkits, is in southern Indiana, an hour’s drive from Bloomington. Other Dura plants slated for closing are in […]
An investigation into stock-option backdating at Biomet Inc. resulted in two executives retiring March 30. The executives are Gregory D. Hartman, senior vice president of finance and chief financial officer and treasurer, and Daniel P. Hann, executive vice president of administration and a director. In an investigation delving into the options granted between 1996 and […]
Two United Auto Workers locals that once represented upward of 20,000 General Motors workers in Anderson no longer are needed, and will merge into the UAW local that represents Anderson municipal workers and Madison County workers. Local 662, which in the 1960s boasted nearly 15,000 members at what became GM’s Delphi Corp. division, will be […]
Ivy Tech Community College and the Indianapolis Private Industry Council have started an Advanced Manufacturing Institute at Ivy Tech’s downtown campus to train manufacturing workers. The institute will work with trade groups specializing in welding, metalworking, ventilation and fluid power to train and retrain workers for the 2,300-plus manufacturing positions Ivy Tech and the council […]
Lots of people are taking the week off for spring break, but plenty of people are still toiling away at their jobs, local employers say. At F.C. Tucker Co.’s corporate office on the far northside, 20 to 25 percent of workers are out this week, said Stan Phariss, vice president of human relations for the […]
The U.S. and South Korea free-trade agreement signed today is good news for Indiana farmers and manufacturers, economists and international trade experts say. Midwest farmers should see significant markets open for beef and other livestock products as well as for various crops. Annual U.S. exports to South Korea likely will rise 30 to 50 percent […]
Tribune Co., the Chicago media company that owns Indianapolis Fox affiliate WXIN-TV Channel 59 and the local CW network affiliate, WTTV-TV Channel 4, said it has accepted an $8.2 billion acquisition offer from cross-town real estate magnate Sam Zell. The Chicago Tribune and Los Angeles Times are Tribune’s flagship properties. Zell said he would put Tribune’s […]
A contract approved by a majority of 270 union members at the TRW Commercial Steering Systems plant in Lafayette on Saturday stipulates no raises in its first three years, followed by 1-percent and 1.25-percent raises in the two remaining years. United Auto Workers Local 531 President Ron Dubree Jr. called the contract “concessionary,” according to […]
Members of the Northwest Indiana Forum, an economic development group, have held several closed-door meetings with members of the General Assembly to try to stir interest in proceeding with the project, according to the Post-Tribune of Merrillville. Gov. Mitch Daniels said late last month public opposition ran so high that he would drop the idea […]
Temporary staffing agencies used to be like big-box discount stores: Customers could find anything and everything under one roof. As temp workers have become an increasingly important part of corporate business models, however, a more boutique approach is taking hold. Take Carmel-based LGC Associates, which specializes in providing temporary staffing for the food service and hospitality industries-and has started providing workers to fill the accounting, financial and administrative needs of its clients. LGC was launched in May 2003 by Carmel…
For the first time in a while, I am going to use both hands when I write the column. If you visit this space even occasionally, you know I call my spots and I don’t hedge my opinion. I was practically all alone in late February when I wrote as forcefully as I could to buy in the sell-off, which was almost the exact bottom, and readers have been amply rewarded. But today I am going to talk about interest…
Indianapolis hasn’t attempted to systematically catalog all its infrastructure needs since 1991. Back then, the Greater Indianapolis Chamber of Commerce collected a list of the most pressing local projects and presented it to Mayor Stephen Goldsmith. The price tag at that time: $1.1 billion. A lot has changed in the 16 years since the Chamber released its Getting Indianapolis Fit for Tomorrow report. Some problems it identified, such as the health risk of combined sewer overflows, have been partly addressed….
The names Caribbean Cove and Paradise Bay inspire thoughts of tropical destinations where sunbathers slather lotion like Hoosiers butter their corn on the cob. In reality, these types of “resorts” are spouting up throughout the Midwest, including Indiana, and require no protection from harmful ultraviolet rays whatsoever. They’re indoor water parks, a trend hoteliers are embracing to cater to families seeking a weekend getaway-and to boost occupancy during the off-season. The Indianapolis area features just one such water park so…
I’m memorizing the faces of Larry Page and Sergey Brin. I might have to call them both “Your Imperial Majesties” one day. They’re the founders of the globe-rattling company Google, and it’s not beyond the bounds of possibility that they may eventually become the lords of all information. But they’re nice guys, so they let the rest of us have a look at that information, too. It’s mighty handy for those of us lusting for profits. Google started life as…
