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We’ve officially launched IBJ’s first blog. As you can see, it’s called Property Lines. The topic is real estate. The idea is to create a forum for real estate enthusiasts. I hope you’ll help me make that happen, by sending…
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Steel Dynamics sees profit surge, reorganizes execs.
Fort Wayne-based Steel Dynamics Inc. said first-quarter profit shot up 34 percent, to $102 million, on strength across its units. The steelmaker, which operates a recycling mill west of Indianapolis at Pittsboro, also said President and CEO Keith Busse will become chairman and CEO on May 1. Two executive vice presidents will report to Busse—one […]
Two economic development announcements set for today
This afternoon, Gov. Mitch Daniels is scheduled to be in Batesville at Hill-Rom Inc. headquarters for an economic development announcement. Daniels’ office hasn’t released details. This morning, officials in Terre Haute will announce a plan to generate jobs and keep more graduates of Indiana State University and Rose-Hulman Institute of Technology in the area after […]
Analysts dropping coverage of newspaper stocks
Analysts who follow newspaper stocks are dropping their coverage because investor interest in the industry has shriveled. Citing the circulation trend, one Goldman Sachs Group Inc. analyst compared himself to the Maytag repairman no one wants to call, according to Bloomberg. Others are following different industries or pursuing new careers. Long-time analyst John Morton wrote […]
Peyton’s Table
One of the toughest tables to land at the new Harry & Izzy’s restaurant that opens today may be the spacious booth between the kitchen and the bar, at least once people find out it’s now known as Peyton’s Table….
Evansville call center to hire more than 500
AT&T Inc. announced this morning that it will open a Cingular Wireless call center in Evansville that will employ more than 500. The $22 million center will serve wireless customers in AT&T’s Business Marketing Group. Neither a location for the 75,000-square-foot project nor an opening date was included in the announcement. In February, AT&T said […]
Bankers launch campaign to restore saving ethic
Fifth Third Bank, National City and other banks have started an advertising campaign to convince people to save more money. Not only do banks have to work harder to build deposits, which in turn are redeployed as loans, but the nation now spends more than it saves, according to The Journal Gazette of Fort Wayne. […]
UPDATE: Lilly sees brighter future despite setback
Eli Lilly and Co. today boosted profit forecasts for the year while reporting that first-quarter profit fell nearly 40 percent. Officials for the Indianapolis drugmaker said they were encouraged by strong trends in certain parts of the company’s business. Excluding one-time costs, such as the recent purchase of Icos Corp., they raised full-year profit guidance […]
Fortune closes Salt Lake City deal
Fortune Industries Inc. has closed its acquisition of Employer Solutions Group of Salt Lake City, Utah. The cash-and-stock deal is valued at $11.2 million. Employer Solutions Group provides human resource management services, such as payroll and benefits administration, to about 375 companies, and will retain its Salt Lake City headquarters and regional office in Loveland, […]
Icos purchase causes Lilly profit to dip 39 percent
Indianapolis drugmaker Eli Lilly and Co. saw first-quarter profit fall nearly 40 percent from a year earlier, to $508.7 million, due to its $2.3 billion acquisition of Bothell, Wash.-based Icos Corp. Lilly developed the erectile dysfunction drug Cialis in a joint venture with Icos. Without the Icos expense, Lilly profit jumped 9 percent, to […]
Sallie Mae to be bought for $25 billion.
Sallie Mae, the student loan provider, has agreed to be acquired by J.P. Morgan Chase & Co., Bank of America, and two private investment funds for $25 billion, The Wall Street Journal reported this morning. Reston, Va.-based Sallie Mae, officially known as SLM Corp., employs 2,300 workers in Fishers and another 500 in Muncie. […]
Evansville to get Cingular call center, report says
Gov. Mitch Daniels is expected to be in Evansville at 11:30 a.m. Eastern time today to participate in an AT&T announcement that it will place a call center in the southwestern Indiana city. The call center, which will service Cingular Wireless customers, will employ more than 500, according to the Evansville Courier & Press. […]
BULLS & BEARS: Embracing unloved stocks great way to make money
Proverbs 30:19 states that there are “four things I’ll never understand, how an eagle flies so high in the sky, how a snake glides over a rock, how a ship navigates the ocean, and why adolescents act the way they do.” Having had three adolescents, I will agree they are beyond understanding. If there had been a stock market in the 10th century B.C., the author might have added one more item to the list. Besides adolescents, he probably wouldn’t…
EYE ON THE PIE: A useful program for Indiana’s future
I could see she was mad when I walked in the coffee shop. State representative Roberta Righteous was adding packet after packet of sugar substitute to her extra large macho mocha. As I sat down with my cup of regular, she blurted, “Your column last week was another cruel attack on the General Assembly. All criticism, all sarcasm, but no constructive suggestions for progress.” “You want constructive ideas,” I said, “I’ll give you some. “First, Indiana abandons partisan redistricting. When…
FUNNY BUSINESS: New plate options better than the ‘Wander’ years
The state of Indiana (For Sale Or Lease: Ask Mitch About A Privatization Plan To Suit You And Your Budget) came up with four proposed designs for license plates, and you know, they didn’t look half bad. In fact, all four were fairly attractive. Which, of course, leaves us to ask, “How did that happen?” Let’s face it: This state hasn’t had a greatlooking license plate since … well, ever. From the minimalist plates of my youth, blue and maroon…
ECONOMIC ANALYSIS: The Great Society meets fiscal reality
Someone wise in matters of politics once said programs for the poor are poor programs. It remains true today-initiatives aimed at helping the most vulnerable in our society, be they privately or publicly funded, seem to be perpetually starved for funds. And so the genius of those who created the Social Security system-originally aimed at older Americans whose assets were devastated by the Great Depression in 1935-was to make the program available to all, regardless of income. In a few…
Butler fights with small athletic budget to keep coaches
Butler University is running with the big dogs these days in men’s NCAA Division I college basketball–at least on the court.
Financially, though, the Bulldogs face a difficult dilemma in chasing after programs with bigger budgetary bones.
PROFILE: Williams Beck & Hess Inc.: Demand fueled growing pains When quality suffered, Camby firm slowed down to work out the kinks
Williams Beck & Hess Inc. Demand fueled growing pains When quality suffered, Camby firm slowed down to work out the kinks At 24, Harry Beals turned down a job working for a once-prominent petroleum tank company that had lost its luster following its founder’s retirement. Four months later, he bought it. After 30 years under Beals’ control, Williams Beck & Hess Inc. has grown into a business that generates nearly $1 million in revenue each year-not a bad return on…
Canal could be home to new hotels or condos: Requirement for retail could jump-start slow effort
State and city officials have begun evaluating four groups that want to develop an acre of prime real estate along the Central Canal downtown. The property, which covers about a third of the block stretching from Ohio Street to New York Street, will feature canal-level retail-a requirement of all potential developments there. It also could be home to a hotel or condominium complex, based on plans from two local developers. Two other groups also are in the running for the…
Citizens Gas proposing billing overhaul
Citizens Gas & Coke Utility has revived its pitch for a regulatory plan that would fundamentally change the way it bills customers,
helping it cover rising expenses as gas sales fall. The plan would create an expanded energy conservation program that could
include rebates for customers who buy gas-efficient furnaces and appliances.