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Conseco Inc. expects to spend $53 million after taxes to shore up capital reserves for its long- term care and core insurance businesses, the company announced today. The Carmel-based insurer said the expense likely will wipe out its fourth-quarter profit, which Conseco now will announce on March 6, a week later than originally planned. During […]
About 300 workers at Citizens Gas & Coke Utility’s coke-making division have been told that they risk be laid off because the plant might be sold, Citizens announced this morning. Citizens, which has been trying to sell the plant at 2950 Prospect St. because it no longer fits its business strategy, said it is “concluding […]
Shares of Hurco Companies Inc. are setting records and soaring well above their nearly worthless status of three years ago. The stock has shot up 28 percent, to $45, since the Indianapolis machine tool maker late last week reported a surge in sales and earnings for its first fiscal quarter ended Jan. 31. The $5.4 […]
Eli Lilly and Co. today launched its first insulin injector pen with a digital memory in the hope of regaining market share lost in recent years to generic and inhalable insulin. HumaPen Memoir resembles a writing pen and is designed for patients who take several daily shots of insulin at mealtimes. The Indianapolis drugmaker said […]
Greg Tinsley has been named manager of the Conrad hotel in downtown Indianapolis, replacing Jan Chovanec, who resigned in January to be closer to his family. Tinsley most recently managed the Beverly Hilton in Beverly Hills, Calif. Prior to the Beverly Hilton, Tinsley held posts with Sheraton Hotels in several cities.
Businesses that use natural gas rated Vectren Corp. lower than companies across the country generally feel about their gas suppliers, according to this year’s J.D. Power and Associates report on business satisfaction with gas companies. The Evansville company, which serves the Indianapolis area outside Marion County, received a 708 rating on a 1,000 point scale. […]
Memphis-based Lenny’s Sub Shops announced today that it will open 28 sandwich shops in the Indianapolis area, beginning this spring in Avon and Carmel. Franchisee SamStorm Subs will locate 15 in Marion County, three in Hendricks County, and five each in Hamilton and Tippecanoe counties. Founded in 1998, the company has 700 locations in 18 […]
Appliance makers and other suppliers to the housing industry might feel the ripple effect of the housing downturn through the end of this year, according to a Bloomberg report. Sales of new and existing houses fell nearly 10 percent last year, though many observers believe the worst is over for the sales decline. The industry, […]
Marion Superior Court Judge Thomas J. Carroll yesterday issued a preliminary injunction ordering an Indianapolis company controlled by high-profile businessman Alan G. Symons to return computer files and other information allegedly taken from a Fishers competitor. The competitor, Product Action International LLC, claimed in a lawsuit filed in May that Symons’ company-Fast Tek Group […]
Guide Corp. has told retirees and former salaried workers that they will not receive medical and life insurance through the company after March 16. The salaried workers are eligible for a one-time cash payout of $35,000 to $45,000, according to The Herald-Bulletin of Anderson. In January, the Pendleton-based maker of auto lighting closed a taillight […]
Eli Lilly and Co. and other companies that make drugs for attention deficit hyperactivity disorder have been ordered by the U.S. Food and Drug Administration to develop handouts to give to patients warning of side affects. Some patients with heart problems have died suddenly or sustained strokes and heart attacks after taking the drugs, the […]
Two analysts who follow Plainfield-based Brightpoint Inc. have issued upgraded recommendations since the Plainfield-based cell phone distributor announced yesterday that it would buy Dangaard Telecom of Denmark in a $308 million stock swap. Ittai Kidron of CIBC World Markets said the stock will outperform its sector, and Christin Armacost of Lazard Capital Markets issued a […]
Meyer & Wallis has been retained by Marsh Supermarkets as its advertising agency of record. The Indianapolis ad firm was originally hired by Marsh in 2003. Florida-based Sun Capital Partners bought the Indianapolis-based grocery chain in September for $78 million.
NTN Driveshaft Inc. will add as many as 250 workers in Columbus, according to The Republic. NTN, which is headquartered in the city and employs a total of 1,600, makes constant-velocity joints for front-wheel and four-wheel-drive vehicles, and wants to be the largest such manufacturer in the world. The newspaper also reported that the city […]
The Indiana Health Information Exchange has left the Indiana University Emerging Technologies Center, the small-business incubator at the north end of the downtown canal. Its new location is nearby at 846 N. Senate Ave. The not-for-profit, which was launched three years ago by 13 institutions interested in sharing medical data to improve health and cut […]
Duke Energy Co. plans to triple the electricity it can deliver to River Ridge Commerce Center, the business park carved from the former Indiana Army Ammunition Plant near Clarksville. The $700,000 upgrade will create total capacity equivalent to powering 3,000 homes, according to The Courier-Journal of Louisville. The utility expects the new southern Indiana park […]
Sommer Barnard attorney Jonathan Polak has won a partial victory in the lawsuit he orchestrated against O.J. Simpson on behalf of the family of Ronald Goldman. A judge in Los Angeles yesterday ordered that Simpson pay the family earnings he made from making television commercials and such movies as Naked Gun and No Place to […]
Financial markets are reacting positively to Brightpoint Inc.’s announcement early this morning that it will buy Dangaard Telecom of Padbord, Denmark, in a $308 million stock deal. Shares of the Plainfield cell phone distributor traded at $11.36 late this morning, up $1.08, or 10.5 percent, from last night’s $10.28 close. Bill Choi, managing director of […]
Seizo Okamoto, the manager who opened the Toyota Motor Corp. assembly plant in the southwestern town of Princeton in 1998, has been reassigned to Erlanger, Ky., as executive technical adviser for Toyota Motor Engineering and Manufacturing North America. At the Kentucky location, Okamoto will work with the Japanese company’s new Camry line at Subaru of […]
Brightpoint Inc. has agreed to purchase the largest wireless phone distributor in Europe for $308 million in stock—a deal that balloons the Plainfield company’s annual revenue from $2.5 billion to $4.6 billion. "It’s one of those once-in-a-lifetime deals," said Brightpoint CEO Robert Laikin. "It’s not often you get an opportunity like this." Brightpoint, the biggest […]
