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Standard Management Corp. has started a new unit to attract investors. The troubled Indianapolis company said today that the unit, Universal Healthcare Co. LLC, will provide pharmaceuticals to the long-term care industry—a strategy the former insurer has struggled to implement since 2002. Universal Healthcare in turn has agreed to buy Precision Healthcare Inc. from Standard […]
Shopping mall developer Mills Corp. today said it plans to accept a $1.56 billion buyout offer from Simon Property Group Inc. and a San Francisco hedge fund that tops an offer by Toronto-based Brookfield Capital Management Inc. Mills said its board has terminated its agreement with Brookfield, which had offered $1.35 billion. Indianapolis-based Simon and […]
Speedy approval of permits makes Indiana more desirable than Ohio for huge dairy farms, according to a company that specializes in settling Dutch dairy farmers in the United States. Vreba-Hoff Dairy Development LLC, based in Wauseon, Ohio, told the Dayton Daily News that Ohio agencies are understaffed. Therefore, Vreba-Hoff applications in Indiana jumped […]
Profit shot up four-fold in 2006 for Interactive Intelligence Inc., the Indianapolis-based business communications software developer. The $10.2 million included $2.1 million in expenses for employee stock options and a $5 million tax benefit. Fourth-quarter profit slipped slightly to $1.6 million due to stock option expenses. Interactive CEO Don Brown attributed the climb for the […]
Muncie is the only Indiana city to lose a Circuit City Stores Inc. electronics store in the latest round of downsizing undertaken by the Richmond, Va., retailing giant, according to The Star-Press of Muncie. Six other U.S. stores and 62 in Canada also will be shuttered as Circuit City struggles to compete against Best Buy […]
Construction on an ethanol plant near Montpelier has stopped, and the company developing the $150 million project, Central States Enterprises of Heathrow, Fla., doesn’t plan to resume work any time soon. Central States told The Star-Press of Muncie that it is taking a “more deliberate approach.” Early this month, Broins & Associates of Sioux Falls, […]
The management team of Kenra LLC will stay with the Indianapolis company’s new owner, Imperial Capital Acquisition Fund III, and anticipates growing the business through acquisition, according to Kenra Chief Operating Officer Steve Nerney. Also staying are Patrick Ludwig, president of the Kenra brand, and Dave Gordon, president of its Elasta QP brand, Nerney said. […]
The Indianapolis law firm Locke Reynolds has absorbed five lawyers from the Fort Wayne firm of Dahm & Elvin. New to Locke Reynolds are Albert Dahm, Michael Elvin, James Butz and Sandy Morris. Locke Reynolds ranked 8th in IBJ ’s 2007 Book of Lists, with 77 attorneys in the Indianapolis area.
Biomet Inc. chief executive Dane Miller won’t lead the Warsaw prosthetics company after the close of its $10.9 billion sale to a group of private equity investors, according to Greater Fort Wayne Business Weekly. Miller, who has an equity stake in the acquisition, will be a director. But his involvement won’t extend to a formal […]
Advance Auto Parts Inc. announced today it will build a warehouse near Remington to serve its Midwestern stores. The 500,000-square-foot facility will hire 600 and be completed in summer 2008, according to the Roanoke, Va., retailer of aftermarket auto parts. Remington is north of Lafayette and near Interstate 65.
Carmel-based N/Frame, an Internet and hosting provider, said today that it has been acquired by Continental Broadband of Norfolk, Va., for undisclosed terms. N/Frame Chief Operating Officer Bob Alcorn said its owners, the Dunigan family of Evansville, felt it was better to find a buyer than undertake an expansion that would have required extensive investment. […]
Emmis Communications Corp. CEO Jeff Smulyan won’t have to face his nemesis—Elkhart-based investment manager Frank Martin—when the company holds its annual meeting tomorrow. Martin has submitted a proposal on the meeting agenda that would do away with a special class of stock that gives Smulyan 60 percent of the company’s voting power, even though […]
The Home Depot announced this morning that it will evaluate a sale, spin-off or initial public offering for its HD Supply unit. Atlanta-based Home Depot said it is launching the strategic review because the business might offer shareholders more value under different ownership. HD Supply, which does $12 billion a year in sales, has several […]
Ivy Tech Community College of Indiana and Indiana Business College are bracing for an expected wave of enrollments, now that three big auto parts companies have announced plant closings in Indiana this year, according to The Star Press of Muncie. The 2004 closing of Thomson Consumer Electronics’ television picture tube plant in Marion caused a […]
We are still in a bull market. It’s an old one, and on a global scale not everything is exactly firing. Bigname stocks like Apple and Google are getting knocked around, and the money you plowed into Chinese stocks a few months ago is losing ground. But on a risk-adjusted basis, we are in a place to make some decent money. You just have to know where to look. The “where” is the part giving investors fits lately. By taking…
Let’s see now … The city of Indianapolis announces it is formally pursuing the 2011 Super Bowl. Indiana University defeats second-ranked University of Wisconsin in Assembly Hall, ending the Badgers’ chances of becoming the first team since IU in 1976 to go through the league unbeaten. North Central High School’s Eric Gordon goes for 43 points in a nationally televised game against a Chicago high school team featuring the two sons of Michael Jordan, who watches from the bleachers. Butler…
The Time Factory founder and CEO Jim Purcell wants to erect a 150-foot-tall wind turbine above his calendar factory near 62nd
Street and Georgetown Road. Purcell figures the $200,000 contraption could power 60 percent–if he’s lucky, maybe 80 percent–of
his 22,000-square-foot facility.
Certain days of the year are always popular for weddings. Nothing can beat the romance of a Valentine’s Day nuptials or the fun of a New Year’s Eve ceremony. But this year, couples have a once-in-alifetime opportunity to tie the knot on a unique day-July 7, 2007, or 7/7/7. Whether brides and grooms are choosing the date for luck or the ease of remembering their anniversary, July 7, which happens to be a Saturday, is turning out to be one…
Indianapolis airport officials are considering building a smaller version of FedEx’s 2-million-square-foot hub here, one
that could accommodate several cargo carriers from around the globe. The “international air cargo facility” could be up to
several hundred thousand square feet large and could cost tens of millions of dollars to build.
It’s a long shot-probably longer than the odds the Chicago Bears faced against the Indianapolis Colts-but the city could host the Super Bowl in 2011 and the Republican National Convention the following year. City leaders hope to convince NFL owners that the city is more deserving than Phoenix, Dallas and possibly New Orleans, which could be the sentimental favorite if, in fact, it submits a bid. Indiana Republicans, meanwhile, are setting their sights on 2012 and are just beginning to…
