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After WellPoint Inc.’s board last week passed over Chief Financial Officer David C. Colby for the CEO’s job, it gave him a new title and agreed to award him 60,000 shares in restricted stock and stock options if he stays three more years. In addition to continuing as CFO, Colby will be vice chairman, an […]
GM Construction Inc., the Indianapolis construction contractor, has been renamed Garcia Construction Group as part of a reorganization that includes receiving ISO 9000 certification, according to President Charlie Garcia. The company had 55 employees in 2005, ranking as the 13th largest minority-owned business in the Indianapolis area, according to IBJ’s 2006 Book of Lists.
A Collins Aikman Products Co. auto parts plant in Morristown will close by the end of the month, according to The Shelbyville News, quoting a union representative. The plant east of Indianapolis employs 325. Collins-Aikman, of Southfield, Mich., has ended efforts to reorganize under bankruptcy protection that it sought in May 2005, and now is […]
Eli Lilly and Co. has agreed to buy Hypnion Inc., a Lexington, Mass., neuroscience drug research firm focused on sleep disorder. Financial terms were not disclosed. The acquisition is expected to close by the end of the month.
Kokomo and Tipton are the only Indiana cities where German automotive companies Daimler-Chrysler and Getrag Corporate Group have applied for air-quality permits to build a transmission factory, according to the Kokomo Tribune. The plant would employ 1,200 to make a fuel-efficient dual wet clutch. A representative of United Auto Workers Local 685 told the newspaper […]
College students across the state are avoiding computer science, a field where starting salaries often range from $50,000 to $80,000, because their parents think the jobs are scarce. At Purdue University, for example, only 550 are majoring in computer science fields, down 40 percent since 2002. Nationwide, the number is down 29 percent. In reality, […]
A few weeks ago, I heard Ben Stein speak about politics and the economy. The noted lawyer, writer, actor and economist spouted off various positive statistics about the U.S. economy and then lamented that the public seemed morose about the financial sunshine. Even though our standard of living is at an all-time high, it seems as if Americans like to grovel and complain. Stein said, in his best Ferris Bueller drone, the American public was the most “unhappy happy society”…
In the Democrats’ field of potential candidates to unseat Gov. Mitch Daniels, there are few household names. That’s why they’re
preparing to spend the next 19 months introducing you to Jim Schellinger.
Timing is everything, which meant I was in the caboose of the media train that rolled through Larry Bird’s office recently. So by the time I sat down with the Indiana Pacers’ president of basketball operations, Bird had pretty much heard, and answered, every question with regard to the frustrating state of our NBA franchise. There’s no pretty picture to be painted: The off-court incidents, first at the infamous Club Rio during training camp, then at the Eight Seconds Saloon;…
There are no longer any for-profit Blue Cross Blue Shield insurance plans for WellPoint Inc. to acquire as a means of growth.
State governments have effectively stopped those plans from converting to for-profits. That means new CEO Angela F. Braly
can’t keep WellPoint growing by gobbling up competitors.
The Indiana General Assembly has reached mid-session, the point at which bills originating in the House have passed to the Senate, and vice versa. Those bills that have not mustered enough votes to cross the rotunda are theoretically dead, but, as you’re accustomed to seeing in any number of cheap horror movies, there are all kinds of ways a concept can still arise from the dead until adjournment sine die. The time remaining in the session is so much more…
There are times when perspective and a little knowledge of history come in handy. Most enormous success stories come down to a ton of grunt work, and a few glorious moments. This is one of those times that, looked at many years from now, could be seen as a building block to something much bigger, or, without the proper tools, another missed opportunity. I love competing in the stock market because there is more brainpower attempting to succeed on Wall…
The final piece of a decade-long redevelopment of Fort Benjamin Harrison would give Lawrence a new downtown with shops, offices and public plazas mixed among as many as 1,000 condos, townhouses and apartments. The Fort Harrison Reuse Authority hasn’t settled on a name yet for the 88-acre project, but the quasi-governmental group’s board is expected to approve zoning updates this month that pave the way for the project. Public meetings will be held in March and April, and the first…
I n d i a n a p o l i s – based Finish Line Inc. already had enough challenges, but here’s another: Nike Inc., Finish Line’s largest supplier, is revving up its own retail ambitions. Analysts, at least, see the Oregonbased company’s move as a competitive threat. For its part, Finish Line notes that Nike plans to open just 100 of its own stores over the next three years, and only 50 would be in the United States,…
Sun Capital Partners, Florida-based parent of Marsh Supermarkets, is unloading what it sees as excess real estate. Marsh put
19 properties on the market in late February for a total asking price of $10.6 million.
·mo ·pho ·bia, noun: irrational fear of, aversion to, or discrimination against homosexuality or homosexuals -Merriam-Webster’s Dictionary Hi. Big Brother here. You know me: Mr. Government-Knows-Best, Mr. Run-Your-Life-For-You, Mr. Tell-You-What-You-Can-and-Cannot-Do. I realize I’m not popular in these Hoosier parts. I know I’ve failed to mandate the use of motorcycle helmets. Failed to mandate the use of safety belts in trucks. Failed to stop you from smoking up that old Chevy Malibu with your little munchkin ridin’ shotgun. Granted, after decades of…
Doug Brown might not know how to name a company, but he sure knows how to grow one. CEO Brown, 46, co-founded Fusion Alliance Inc. in 1994 along with Tim Shaw, who is no longer active in the firm. The company has since blossomed into the Indianapolis-area’s’s largest software developer, with 196 staff and contract software engineers and programmers. Much of the growth coincides with the decision in 2000 to rechristen the northwest-side company from its original and less glamorous…
Both sides in a contentious battle for control of the locally based American Basketball Association have agreed to play ball in out-of-court settlement talks. The two sides agreed to negotiate only after a trio of investors, led by former National Basketball Association all-pro John Salley, fired another shot at league co-founders Joe Newman and Richard Tinkham, both Indianapolis entrepreneurs. A District Court judge in Marion County gave the sides until March 26 to work out their differences. A hearing is…
Last year was a good one for fast-growing local marketing software-maker Aprimo Inc. And this year could be even better. “It’s not the beginning of the end; it’s the end of the beginning,” said Aprimo investor Mark Koulogeorge, managing general partner of the Chicago-based venture capital firm MK Capital. “This is the second or third inning of a very long ballgame.” In 2006, Aprimo quietly grew from about 220 to 300 employees and moved into a new headquarters just east…
So much is going on in the Indiana General Assembly that it makes my head spin, which makes me dizzy and unfit for driving safely on the roads. That, plus the recent heavy snows, has made me a hermit. To re-enter society, I called Dr. Werner von Fizzle, the only psychologist I know who provides at-home consultations. As he sat down, Dr. von F asked, “Do you have some tonic vater?” I nodded and rose to fill his request. “And,”…
