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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…
P s y c h o l o g i s t Daniel Goleman, who popularized the term “emotional intelligence” with his series of best sellers on the subject, has a new book called “Social Intelligence: The New Science of Human Relationships.” In it, Goleman focuses on the emerging field of social neuroscience and what it’s revealing about the human brain being wired for interconnectedness with others. Notably, his observations concerning online communication should be of interest to anyone who…
On my way into work the other day, I heard an analyst on Bloomberg Radio say he was surprised at the poor performance of the parent company of Airbus, EADS. He said he was ready for a slight earnings miss, but to fall on its face as much as it did, well, that shocked him. What shocked me was how anyone put faith in a giant conglomerate pretty much run by the French government and a few other half-baked socialist…
Most central Indiana HMOs lost customers again in 2006, with consumerdriven health care plans inflicting the latest cut. Eight out of 10 major health maintenance organizations lost members, some for a third straight year. The declines ranged from 4 percent to 48 percent, according to their annual reports filed with the Indiana Department of Insurance. Most HMOs are in no danger of going out of business. Many posted increased profit in 2006, and most have healthy cash reserves. But HMOs…
Amid sagging profits, locally based Delta Faucet Co. has parted ways with two of its top executives. And some analysts think
Delta’s parent corporation–tiring of its sagging performance–is considering selling the faucet manufacturer.
Playing guitar seems much more alluring than building one-unless you’re a member of the Instrument Manufacturing and Testing class at Purdue University. The course is the creation of Mark French, an assistant professor of mechanical engineering technology, who introduced it just last year. It is already striking a major chord with students. Eighteen are enrolled now, which is as many as the professor can handle, and the waiting list for next spring’s session is full. French is teaching the class…
A who’s-who of local firms is planning bids to redevelop the Market Square Arena site with mixed-use projects that would depart
sharply from previous efforts focused on residential. New plans are expected to include retail , offices, apartment units
and condos backed by high-profile local developers that didn’t bid before.
PROFILE UNIQUE WINDOW & DOOR Hanging a business on happy customers Owner aims to improve home-improvement reputation In an industry often lambasted for unethical practices, Unique Window & Door President Robert Dillon has tried to carve a niche in the local home-improvement market-combining aggressive marketing with a focus on customer and employee satisfaction. It seems to be making strides on both counts. Revenue has steadily increased over the 13 years Dillon has owned the company, and Unique is a four-time…
We recently told you how revenue growth was lagging the December fiscal forecast. One prominent Republican senator tells his constituents that his colleagues are now planning for a growth rate in this fiscal year of only 2.5 percent, not the 4.2 percent to 4.5 percent they had planned on at the beginning of the session. While lawmakers will not have a new fiscal forecast for the biennium until the middle of April, they are clearly girding for a new fiscal…
