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Eli Lilly and Co. is among 11 companies singled out by the mammoth California Public Employee Retirement System for “dismal stock performance” and poor corporate governance, according to Bloomberg. Lilly landed on Calpers’ annual “Focus List” for not allowing shareholders to amend company bylaws and by having tiers of board members that prevent the board […]
Evansville-based Shoe Carnival Inc. today reported profit of $5.1 million in the fourth quarter ended Feb. 3, up from $3 million a year earlier. Sales rose 8.3 percent, to $177.2 million. For the fiscal year, profit increased 26.5 percent, to $23.8 million, and sales grew 4 percent to $681.7 million. Same-store sales fell 0.9 percent […]
One of two finalists vying to become the next president of Ivy Tech Community College said two members of the administration of Gov. Mitch Daniels told him he is not the governor’s preferred candidate. Thomas P. Snyder, a former executive at Remy International Inc. in Anderson and currently chairman of Flagship Enterprise Systems Center, an […]
When Purdue University announces tomorrow it has received its largest single research gift, the school will further cement its role in boosting the state’s economy, one expert says. “One of the biggest discoveries of economic impact studies between schools and the economy is the school’s role in commercialization,” said Patrick Barkey, an economist and director […]
Purdue University is expected to announce tomorrow that it has received a major gift from a foundation that at least two public and private schools have rejected, reports the Chronicle of Higher Education. Purdue would be the first public university in the country to sign a deal with the Alfred E. Mann Foundation for Biomedical […]
Indiana Manufacturers Association President Pat Kiely was one of six finalists interviewed to replace Ivy Tech Community College President Gerald Lamkin, who is retiring June 1. Kiely was eliminated from the search because he doesn’t have advanced academic degrees, said two sources who are familiar with the interviews but wished to remain anonymous. Kiely refused […]
Safety jitters will cause sales of Eli Lilly and Co.’s Zyprexa schizophrenia drug to stop growing this year and stabilize at 2006 levels, CEO Sidney Taurel told reporters yesterday following a meeting at the Chief Executive’s Club at Boston College. The blockbuster drug has been blamed for weight gain and triggering diabetes in some patients. […]
Indianapolis-based Noble Roman’s Inc. announced today it plans to franchise 25 dual pizza and sub sandwich restaurants in the Springfield, Mo., area within the next four years. The announcement follows a flurry of agreements to franchise its Noble Roman’s Pizza and Tuscano’s Italian Style Subs concept. Including the Missouri sites, the locations in California, Georgia, […]
A new economic development program to be funded by the largest single research gift Purdue University has ever received will be announced Friday by President Martin Jischke and Gov. Mitch Daniels, the university said today. The gift, which has not been made public, will be announced at the Biomedical Engineering Building on the West Lafayette campus.
Delta Air Lines will continue using 55 planes flown by Chautauqua Airlines and Shuttle America if a court approves an agreement reached between bankrupt Delta and the parent of Chautauqua and Shuttle America, Indianapolis-based Republic Airways Holdings said today. Maintaining the contract with Atlanta-based Delta was critical for Republic because the 55 planes amounted to […]
Production of a new engine at Caterpillar Inc.’s engine plant in Lafayette will require adding an undisclosed number of workers to the 1,600 who are staffing the facility, the Peoria, Ill., company told The Journal & Courier of Lafayette. The new C175 engine, which will sell for about $500,000, is used for powering electricity generators. […]
Indianapolis-based WellPoint Inc. is telling 75,000 members that an unencrypted compact disc with their personal and medical information has been lost, according to The New York Times. The members are part of its Empire Blue Cross and Blue Shield arm in New York. The disc was sent to Magellan Behavioral Services, a Connecticut firm that […]
Detailed reviews of Chrysler Group have begun by the Canadian auto parts giant Magna International Inc., Cerberus Capital Management LLC and a team of two other leveraged-buyout firms, Blackstone Group and Centerbridge Partners LP, according to Bloomberg, citing sources familiar with the discussions. Chrysler’s German parent, Daimler-Chrysler AG, is considering a sale of its American […]
Trustees of Ivy Tech Community College have narrowed their search for a new president to a former Remy International Inc. executive and a U.S. Air Force colonel—and passed over Executive Vice President Carol D’Amico. Internal documents obtained by IBJ show the trustees plan to conduct a fourth interview with the two candidates March 22 to […]
Boston Scientific Corp. said today that it is exploring an initial public offering for its Endosurgery group, which focuses on less-invasive surgery. The group operates an 800-employee manufacturing plant in the southern Indiana community of Spencer. The spinoff would be majority-owned by the Massachusetts company, and the $1 billion-plus in IPO proceeds would be used […]
Gregory J. Scharnott, executive vice president of operations at Patrick Industries Inc., has resigned immediately to “pursue other options,” the Elkhart company announced this morning. Chief Financial Officer Andy Nemeth said Patrick would only say Scharnott left yesterday. Patrick manufactures components for manufactured homes and recreational vehicles.
An Evansville-based maker of plastic cups has absorbed another plastics company to form what might be the continent’s largest plastic packaging firm. Berry Plastics Group Inc. announced yesterday it had merged with Covalence Specialty Materials Holding Corp. of Bedminster, N.J., in a stock swap arranged by the owner of both companies, the New York private […]
Indiana steel jobs could suffer as China exports more and more subsidized steel to keep its people employed, according to The Times of Munster. The 480 million metric tons of crude steel China is expected to send abroad this year would be at least 13 percent more than 2006 and triple 2000 levels. The subsidies […]
The state of Montana has sued Eli Lilly and Co. for marketing its Zyprexa antipsychotic drug for off-label uses—the seventh state to make such claims. The lawsuit alleges the Indianapolis drugmaker owes the state for drug costs and harming patients after promoting the drug to sedate nursing home patients and giving kickbacks to doctors, according […]
SPX Corp. of Charlotte, N.C., has sold its Contech Inc. division to Marathon Asset Management LLC, a New York private equity firm, for $146 million. Contech, which is headquartered in Portage, Mich., has one plant each at Pierceton and Auburn near Fort Wayne and another at Mishawaka. SPX said the manufacturer of aluminum auto parts […]
