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State and federal regulators have handed down a string of accusations against Lafayette Community Bancorp, claiming the institution violated safe-banking principles and laws. The Lafayette-based parent of Lafayette Community Bank didn’t document loans properly or have enough collateral, said the Indiana Department of Financial Institutions and the Federal Deposit Insurance Corp. The institution also had […]
Sprint Nextel Corp. plans to roll out WiMax wireless Internet access in Indianapolis in May next year, the Orlando, Fla., company said yesterday. WiMax broadens wireless access beyond local hot spots. The exact coverage area isn’t known, said company spokesman John Polivka. But access will begin in Indianapolis’ center, then be expanded to some suburban […]
California Public Employees’ Retirement System has sent letters to Eli Lilly and Co.’s 1,600 largest shareholders seeking support for a proxy resolution that would require only a majority vote by shareholders to amend its bylaws, Bloomberg reports. The Indianapolis drugmaker requires a supermajority of shareholders, which Calpers says restricts change and ultimately retards stock prices. […]
Veolia Water Indianapolis LLC and Poindexter Excavating Inc., both of Indianapolis, are among seven companies bidding to build a 4-mile water line from Greensburg to the Honda Motor Co. assembly plant under construction near the southeastern Indiana city. Veolia submitted the highest bid, nearly $1.7 million, and Poindexter offered the next-highest, $1.5 million, according to […]
Freedom Financial Holdings Inc. has filed with the Securities and Exchange Commission to take itself public, according to The Journal Gazette. Freedom Financing Holdings owns Freedom Financial Mortgage Corp. The company, which employs about 30 in Fort Wayne, expects to raise as much as $1.25 million by selling a maximum of 625,000 shares at $2 each.
VeraSun Energy Corp. has abandoned plans to build an ethanol plant in Kosciusko County in northern Indiana, according to the Goshen News. Opposition to the project had been fierce. County Commissioner Brad Jackson said the Brookings, S.D., company isn’t likely to announce the decision, but that a reliable source told him VeraSun won’t pursue the […]
BHC Marketing Inc. plans to create 20 jobs in Carmel in April by opening a Midwest regional office, Indiana Economic Development Corp. announced today. Based in the Houston suburb of The Woodlands, BHC is an independent national insurance marketing organization focusing on annuities and long-term care insurance. The company said it picked Indiana for the […]
Danny O’Malia, the former president of O’Malia’s Food Markets, has joined Trustpointe Inc. as vice president and chief customer service officer. The Indianapolis consulting firm focuses on sales and sales management skills. The family-owned grocery chain was bought in 2002 by its larger Indianapolis-based rival Marsh Supermarkets Inc.; Marsh in turn was acquired in October […]
Evansville Mayor Jonathan Weinzapfel has asked the Indiana Gaming Commission to investigate the owner of the Casino Aztar riverboat casino, Columbia Sussex Corp., because it plans to lay off more than the 20 positions eliminated earlier this year after its acquisition of Phoenix-based Aztar Corp. Weinzapfel said the Fort Mitchell, Ky., company told him it […]
Steve Schenck, who rose over a 34-year banking career to become Midwest regional president for Regions Financial Corp., will retire June 30, the Birmingham, Ala., bank announced today. Schenck, 58, stayed in the same fifth-floor office of One Indiana Square downtown through a string of acquisitions that included ownership under NBD, First Chicago NBD and […]
Cohesant Technologies Inc., the northwest-side company that replaces and services utility pipes, reported a $53,141 loss in its first quarter ended Feb. 28—its first red ink since 1997. Revenue fell 4.4 percent, to $6.2 million. Most of the setback was attributed to a 44-percent decline in pipeline-replacement revenue in its CIPAR subsidiary, said […]
Phase 1 clinical trials have been started at Indiana University and a site in Arizona of Semaphore Pharmaceuticals Inc.’s cancer tumor drug. The Indianapolis company has seen success in animal trials in an array of tumors. Semaphore’s P13K inhibitor targets the “master switch” that signals cancer cells to grow.
Wintry weather is blamed for sales of existing homes falling 16.4 percent, to 1,880, last month from the same month a year earlier, according to Metropolitan Indianapolis Board of Realtors. Only Boone, Brown and Madison counties saw increases. Marion County had the largest decline, 77.2 percent.
Leaders of Indianapolis’ mass transit movement don’t expect to benefit—at least not immediately—from Gov. Mitch Daniels’ giving up on his push to build the Indiana Commerce Connector toll road. “I never felt they were either/or projects, said City-County Councilor Joanne Sanders, a Democrat and vice president of the Central Indiana Regional Transportation Authority. “They both […]
The European Medicines Agency has granted Eli Lilly and Co.’s enzastaurin drug “orphan” status—a decade of marketing exclusivity for drugs aimed at serious, rare illnesses. As a result, the Indianapolis drugmaker is ramping up a late-stage clinical trial of the oral agent, which is designed to limit relapses in patients with a type of non-Hodgkin’s […]
The Indianapolis FBI field office will lease 110,000 square feet in three buildings to be built just north of Castleton Square Mall in Indianapolis, the agency and U.S. General Services Administration announced this morning. B.C. Development Co. of Kansas City, Mo., will join with Indianapolis-based Meyer Najem Corp. to raise the three-building complex on 11.4 […]
Doing better than the industry standard just wasn’t enough for Lauth Property Group CEO Bob Lauth-not when it came to keeping talented people on the payroll. To his way of thinking, a 35 percent annual turnover rate was unacceptable, even if that’s what his competitors were averaging. “It just seemed abysmal to me,” Lauth said. So he set out to establish a new standard, investing in employees-called associates at Lauth-and making the development firm a so-called “employer of choice” in…
Last Tuesday afternoon, I pulled up to the curb at my downtown office building. As I waited for my colleague, John, to join me for a drive to Bloomington, an old man ambled by, the dark skin on his craggy face covered by a salt-and-pepper beard. Despite mild temperatures, he wore snow pants and a winter jacket. A stocking cap covered his head. And a bright blue blanket hung over his shoulders. The old man shuffled up to a trash…
I was watching a business program the other day, and one of the guests was an independent-thinking fellow who summarily dismissed the old saw, “They don’t ring a bell at the top.” He went on to say, “They do ring bells; it is just that nobody listens.” Remember the glory days for venture capital? It doesn’t seem that long ago when an idea was worth a billion-dollar initial public offering. Back in the 1990s, the wizards of Silicon Valley were…
A big question is looming for property managers at National City Center and First Indiana Plaza: Will tenants stay or will they go? Each of the downtown office buildings already is struggling, with occupancy rates in the 60-percent range at the end of 2006. But a grim situation could worsen if some of their largest tenants with expiring leases find a better deal elsewhere. Law firm Bose McKinney & Evans is considering a move from 80,000 square feet at First…
