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The anticipated selection today of Michael McRobbie as the next president of Indiana University is being greeted enthusiastically by Indiana economic development experts. McRobbie, interim provost of Indiana University’s Bloomington campus and vice president for academic affairs, is expected to maintain a higher profile and act more aggressively than outgoing Adam Herbert to help build […]
The owner of historic Story Inn fears Brown County will suffer from competition from French Lick Resort Casino and West Baden Springs Hotel, which is slated to open this summer an hour’s drive south. Rick Hofstetter told the Brown County Democrat that the Orange County attractions might attract Indianapolis, Louisville and Cincinnati tourists who otherwise […]
Telecommunications provider Consolidated Communications Inc. announced it will open a call center in Terre Haute that will employ 100 temporary and seven full-time workers. The call center is part of Consolidated Market Response, a unit of the Illinois-based market support firm, and is expected to open in April 2007.
Navistar International Corp. will resume production of diesel engines at its International Truck and Engine plants in Indianapolis and Alabama, the company said this morning. Production had stopped Monday because of a dispute over warranty fees between Navistar and Ford Motor Co., which uses the engines in its heavy-duty pickup trucks. The dispute had idled […]
Evansville Regional Airport plans to ask US Airways Inc. to resume flights to Indianapolis six years after the Tempe, Ariz., carrier pulled back in the wake of the 2001 terrorist attacks. Airport Manager Nelson Bailes also hopes to persuade the airline to fly between Indianapolis and South Bend, according to the Evansville Courier & Press […]
Name-brand Indiana stocks were not immune to the down draft that swept through Wall Street today. Columbus diesel engine manufacturer Cummins Inc. fell nearly 4.7 percent to $136.15 a share. Indianapolis-based software developer Interactive Intelligence dropped 5.8 percent to $14.77. Other stocks were hit hard, too. Brightpoint, the Plainfield cell phone distributor, saw its shares […]
Centaur Inc. has been approved by the Indiana Horse Racing Commission to buy the 38-percent interest in Hoosier Park it doesn’t already own. The deal is expected to close in mid-March. Anderson’s Department of Parks & Recreation approved the sale Feb. 20. "We’ve been part of this project since day one and we’re proud to […]
AT&T Inc. said this morning that legislation passed last year allowing telephone companies to better compete with cable providers was a factor in its decision to create 425 jobs in Indiana rather than other states. The San Antonio company said it will add the jobs at its offices at 220 N. Meridian St. by 2009. […]
Delphi Corp., the bankrupt Michigan-based auto parts supplier, has filed a notice with the Indiana Department of Workforce Development that it plans to lay off 133 workers at its Anderson ignition and generator plant by April 2. Anderson sustained a similar blow in January when Guide Corp. abruptly closed a taillight plant, throwing hundreds out […]
Growth has stagnated in Wabash County in north-central Indiana, and might not improve very much for a long time, according to retired Manchester College professor Richard Harshbarger. Quoted in the Wabash Plain Dealer, Harshbarger said an index he created places the county’s economic activity at 117.1 compared to 100 more than two decades earlier, in […]
AT&T Inc. will add 425 jobs at its offices at 220 N. Meridian St. by 2009, the San Antonio, Texas, telecommunications giant announced this morning. The call center jobs, which will average about $40,000 a year with benefits, will provide customer service for the company’s high-speed Internet service. The positions are being brought in-house after […]
In Fort Wayne, more than 100 rental houses in the past two years have been sold at one price and a mortgage taken out at a higher price, a practice that enriches dealmakers but leaves banks and buyers in the lurch, according to an investigation by The Journal Gazette. Typically, sellers were paid a certain […]
One of the largest tracts of land remaining along Interstate 465 has been bought by MacAllister Machinery Co. Inc. to make room for the Caterpillar heavy equipment dealership to expand. The 69 acres, which is immediately north of MacAllister headquarters at 7575 E. 30th St., was sold by SMC Corp. of America for $4 million, […]
The surprise announcement that Larry Glasscock is retiring as CEO of WellPoint Inc. paves the way for his successor, Angela F. Braly, to be the highest-ranking female executive in corporate America. None of the 11 women CEOs of Fortune 500 companies run larger businesses, based on revenue, than WellPoint, which has $58 billion in annual […]
Telecommunications giant AT&T as well as state and local officials have called a news conference tomorrow morning to announce what Indiana Economic Development Corp. spokesman Mitch Frazier has said be hundreds of new jobs in Indianapolis. Indiana competed with several other states for the expansion. The state says the announcement is tied to telecom deregulation, […]
Navistar International Corp. has suspended production of diesel engines at its plant on Indianapolis’ eastside and at another plant in Alabama. The decision stems from a lawsuit filed by Ford Motor Co. claiming Illinois-based Navistar isn’t adequately sharing warranty costs for the engines, which are used in its lucrative Super Duty F-Series pickup trucks. Seven-hundred workers at […]
Evansville-based communications company Q-Comm Corp. has closed its acquisitions of Norlight Telecommunications from Journal Communications of Brookfield, Wis., for $185 million. Both companies handle high-speed telecommunications. Norlight’s territory was adjacent to Q-Comm’s. Journal Communications publishes the Milwaukee Journal Sentinel.
Jeffrey Binder, most recently senior vice president of Illinois-based Abbott Laboratories Inc., has been named CEO of Biomet Inc., the Warsaw orthopedics firm announced this morning. Binder, 43, led Abbott’s global laboratory diagnostics business. He replaces Daniel Hann, who had been interim CEO since company co-founder Dane Miller resigned nearly a year ago. Biomet is […]
Eli Lilly and Co.’s antidepressant drug Cymbalta has been approved by the Food and Drug Administration to treat generalized anxiety disorder. About 6.5 million Americans suffer for the disorder. The drug is currently marketed to treat depression and to manage diabetes-related pain. In 2006, Cymbalta sales were $1.3 billion, up from $679 million the year […]
Larry Glasscock, who built WellPoint Inc. into the nation’s largest health insurer, will retire as CEO and president on June 1, the Indianapolis company announced this morning. Glasscock, 58, will remain as chairman. He will be replaced as president and CEO by WellPoint executive Angela F. Braly, 45. Since 2005, she has served as an […]
