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Hillenbrand Industries Inc. posted $51.9 million in profit in its first fiscal quarter, up 7 percent from a year earlier. Revenue for the quarter ended Dec. 31 rose slightly to $483.2 million. The Batesville company said it is still considering separating the company’s health-care and funeral services business into two companies. Its largest shareholder, Franklin […]
Sidney Taurel, CEO of Eli Lilly and Co., earned $15.2 million in salary, stock and other compensation in 2006, according to a Securities and Exchange Commission filing. On top of a base salary of $1.6 million, Taurel received a bonus of $2.8 million and $9.2 million in stock awards and options. Other compensation included $91,069 […]
Simon Property Group might have to work harder to buy Mills Corp., say analysts quoted by The Toronto Star. Indianapolis-based Simon, the world’s largest shopping mall owner, joined with Mills shareholder Farallon Capital Management yesterday to offer an unsolicited bid of $1.56 billion for the Chevy Chase, Md., mall developer. That was $210 million more […]
Daimler-Chrysler AG will eliminate 10,000 blue-collar jobs as part of a sweeping restructuring that will shrink Chrysler and integrate it more closely with its German parent, the Detroit News reports, citing unnamed sources familiar with the plan. Project X” aims to reverse losses that mounted to $1.2 billion for Chrysler last year. However, it is […]
Workers at Beta Steel Corp., a minimill in Portage, are upset about a new policy that forbids sticking decals to hardhats, according to The Times of Munster. Beta Steel thinks the blue hardhats promote a team image and doesn’t want them plastered with stickers. But International Longshoremen’s Association Local 2038, which represents about 325 workers, […]
Five hospitals in northeast Indiana have been bought by private equity arms of the Wall Street firms Goldman Sachs and JPMorgan Chase for $6.4 billion, the seller, Dallas-based Triad Hospitals Inc., said Monday. The hospitals are part of Triad’s Lutheran Health Network. They include Lutheran Hospital of Indiana, St. Joseph Hospital and Dupont Hospital […]
Central Indiana residents set a television viewing record Sunday night by tuning TVs in droves to watch the Indianapolis Colts beat the Chicago Bears in the Super Bowl. An average of 79.4 percent of televisions that were turned on during the game period were tuned in to the event, according to the CBS affiliate […]
The $1.56 billion takeover offer that Simon Property Group unveiled this morning for mall owner Mills Corp. was long overdue, said a RBC Capital Markets analyst. Rich Moore, who follows the Indianapolis-based shopping mall owner for the Columbus, Ohio, company, told Bloomberg he was baffled why Simon hadn’t pounced earlier on Mills’ 38 regional shopping […]
Kite Realty Group Trust said today it will develop 26 acres owned by the University of Notre Dame. The mixed-use, 500,000-square-foot project south of the football stadium will include retail, hotel, office and condominiums, townhouses and apartments, the Indianapolis real estate investment trust said. The university is considering a technology park, single–family homes and more […]
Chambers of commerce in north-central Indiana have banded together to boost their influence with lawmakers on issues ranging from regional prosperity to full-day kindergarten, according to The Journal Gazette of Fort Wayne. Other priorities include transportation and making local government more flexible. Members of the Northern Indiana and Southwest Michigan Business Leadership Coalition include chambers […]
Simon Property Group today offered a competing bid for Mills Corp., a Chevy Chase, Md., shopping mall company that said last month it might have to seek bankruptcy protection. Simon’s offer of $24 per share, or $1.56 billion, is $3 per share higher than a January offer by Brookfield Asset Management Inc. of Toronto, Canada. […]
Pennsylvania Gov. Ed Rendell and New Jersey Gov. John Corzine have asked advice from Indiana counterpart Mitch Daniels about leasing roads as Rendell and Corzine look to solve budget problems, according to the Post-Tribune of Merrillville. Also, Colorado is discussing leasing its state lottery and Michigan Gov. Jennifer Granholm this week is expected to propose […]
Polian’s long and winding road Architect of Colts’ success worked his way to the top Bill Polian never took the straight line to anything or anywhere. He never had that luxury. The multi-sport schoolboy athlete from the Bronx never had the advantage of an inside track. So he broke in to the National Football League […]
Last September, when tragic errors led to the deaths of three infants at Indianapolis’ Methodist Hospital, the hospital did something that, just a few years ago, might have seemed unthinkable: It acknowledged the tragedy and admitted that mistakes were made. “We are all saddened by this news and our hearts are with this family and all the families who have been affected,” a hospital spokesman told The Indianapolis Star. Added Methodist President and CEO Sam Odle, “Ultimately, the blame for…
TO DO LIST BUTLER BASKETBALL All together now: ‘Let’s go Bulldogs, let’s go!’ Looking for a way to satisfy your sports jones now that football season’s over? Check out Indianapolis’ other team-the Butler Bulldogs-at historic Hinkle Fieldhouse. The nationally ranked basketball squad is at its prime, and taking in a home game is an entertaining reminder of the good old days when college athletes played their hearts out for four years and communities came out in force to rally ’round…
A developer wanting to breathe new life into a long-vacant drive-in theater along Pendleton Pike is working to change the minds of Lawrence leaders who already have said no thanks. New York-based Norry Management Corp. is leading an effort to redevelop the 93-acre property for retail, office and industrial uses. But its plans faced a setback last month when a rezoning petition got a negative response from officials concerned about what might end up there. Lawrence City Council members voted…
Where is the best place to work if all you consider is money? Where are the wages and salaries plus benefits paid by employers the highest? We have data from the U.S. Bureau of Economic Analysis that help us answer the question. The data refer to 2005, the latest year available, and do not include self-employment; thus, only jobs working for someone else are counted. And remember, these data are by place of work, not place of residence. Where are…
One benefit of writing a column is, the reader rarely remembers for long what the writer says. Maybe readers don’t remember what stock market columnists prognosticate because they think we’re windbags and change our opinions willy-nilly. For example, a month ago, I wrote the market was looking like it might pull back 10 percent and two weeks later wrote about the case for a market “melt-up.” Willy-nilly? I don’t think so, because both events could happen. But a year from…
As this is being written, it is uncertain which head coach will grasp the Lombardi Trophy. Those of us here certainly hope it is the Indianapolis Colts’ Tony Dungy. If not, however, Floyd Keith of the Indianapolis-based Black Coaches Association still can’t lose. Because the trophy then would be in the hands of the Chicago Bears’ Lovie Smith. As most of the world knows by now, Super Bowl XLI in Miami was going to be historic even before the opening…
Only road contractors, Ruth Reiman and the Devil himself are welcoming interstate reconstruction that could cause mass chaos for east-side commuters this year. For Reiman and her team at Central Indiana Commuter Services, the $175 million Interstate 70 project starting Feb. 25 might be the best recruiting tool since stratospheric gasoline prices a year ago. “I’m just waiting for them to hit the first lane closure,” said Reiman, executive director of federally funded CICS. CICS-rhymes with kicks-hopes to lure lone…
