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As expected, AIT Laboratories CEO Michael A. Evans has transferred ownership of the company to its workers through an employee stock ownership plan, or ESOP, the company announced today. The Indianapolis-based company declined to reveal the price of the sale. Fast-growing AIT Laboratories previously said it would make “a major announcement” today with Indiana Treasurer […]
State regulators yesterday granted Indianapolis Water a 12.3-percent emergency rate increase – less than the 17.5 percent sought last February to relieve the utility drowning in variable-rate bond debt. The Indiana Utility Regulatory Commission rate order was critical of the utility’s management, however, and required better disclosure of financial records as a condition of the […]
About 120 employees have worked their last day at a Baldor Electric Co. factory in central Indiana after the company consolidated its operations. Union officials say that the layoffs that took effect yesterday leave only 37 employees at the Columbus plant. Nearly 200 people worked at the factory when Fort Smith, Ark.-based Baldor bought it […]
Now that another General Assembly is mercifully behind us, itâ??s a good time to raise a festering question
about the lopsided nature of ideas bantered about the Statehouse in recent years.
Gov. Mitch Daniels has driven a wide-ranging agenda characterized by…
Once again Eli Lilly and Co. is running in the lead pack in dollars spent to bend ears on Capitol Hill. And that was even before the health care reform debate got rolling. Through the first quarter, the Indianapolis-based drugmaker was on pace to break the record amount of lobbying it did last year, when it […]
A look at some features of a budget bill passed by the Indiana General Assembly and signed into law by Gov. Mitch Daniels tonight: – Spends about $27.8 billion over the two-year budget cycle. – Public schools will see an average state funding increase of about 1 percent in the first year and 0.3 percent […]
The Indiana General Assembly passed a two-year state budget today, narrowly averting a large-scale state government shutdown that would have begun just after midnight. The Democrat-led House voted 62-37 for the $28.7 billion budget late this afternoon, and the Republican-ruled Senate passed it 34-16 about two hours later. The bill was quickly signed into law […]
This afternoon’s announcement that Tony George no longer would be president and CEO of Indianapolis Motor Speedway and other companies owned by the Hulman-George family had been anticipated for more than a month. On May 27 – three days after this year’s Indianapolis 500 – SpeedTV correspondent Robin Miller reported that the board had voted […]
Directors of Hulman & Co. and the Indianapolis Motor Speedway this afternoon announced that a new management team comprised of veteran IMS executives W. Curtis Brighton and Jeffrey G. Belskus will head the Hulman-George companies effective July 1. Brighton, currently executive vice president and chief legal counsel, will become president and CEO of Hulman & […]
Directors of Hulman & Co. and the Indianapolis Motor Speedway this afternoon announced that a new management team comprised of veteran IMS executives W. Curtis Brighton and Jeffrey G. Belskus will head the Hulman-George companies effective July 1. Brighton, currently executive vice president and chief legal counsel, will become president and CEO of Hulman & […]
It's official. As reported by SpeedTV and IBJ more than a month ago, Tony George has stepped down from
his leadership role at the Indianapolis Motor Speedway.
The biggest question remaining is what will…
A former pastor accused of bilking thousands of investors out of millions of dollars in a Ponzi scheme aimed at their Christian beliefs has been charged with securities fraud. The Indiana secretary of state’s office says warrants on 10 felony counts each were issued today for Vaughn Reeves of Sullivan and three of his sons. […]
Cafe Patachou owner Martha Hoover plans to open a pizzeria next to her trademark eatery at 49th and Pennsylvania streets. The new venture, called Napolese, should be ready by late fall and will feature traditional, Neapolitan-style pizza. Hoover said she decided to branch out from her popular cafe concept to bring another variety of pizza […]
The NCAA has rejected an appeal from former Indiana University men’s basketball coach Kelvin Sampson. The Indianapolis-based NCAA said today that the NCAA Division I infractions Committee has upheld the violations stemming from more than 100 impermissible phone calls made while Sampson was coaching at Indiana. Sampson received five years of potential penalties when the […]
The Indiana State Teachers Association may try to unload its nine-story headquarters in downtown Indianapolis to cope with financial turmoil, but such a deal likely would keep the teachers union as the building’s anchor tenant. Selling the 115,000-square-foot headquarters could help the teachers’ union regain its footing after big losses at its insurance trust drew […]
Police launched a massive, but unnecessary, 12-hour search for a 12-year-old autistic boy on the southwest side of Indianapolis yesterday after miscommunications between police and Child Protective Services. Josh Arnett was safe with CPS during the search, but family members and police were unaware of his whereabouts. An internal investigation is under way. Fox 59 […]
Indianapolis Mayor Greg Ballard will hold a public meeting tonight to offer an update on the city’s financial status. The agenda will include discussions about Animal Care and Control, and the Department of Public Works. The meeting begins at 6 p.m. in the public assembly room of the City-County Council Building.
The wife of a Marion County judge faces forgery charges after police say she signed a phony court document with another judge’s name to avoid a mortgage payment. According to investigators, Kristina Nelson, 43, has admitted to making up a dramatic story in which she and her husband, Judge William Nelson, were victims of an […]
Fast-growing AIT Laboratories says it will make “a major announcement” tomorrow with Indiana Treasurer Richard Mourdock – perhaps the state’s biggest booster of employee stock ownership plans, or ESOPs. A spokesman for Mourdock and an AIT spokeswoman would not comment on whether AIT is forming an ESOP, a structure that would shift ownership of the […]
The owners of a 1.3-acre parking lot southeast of Meridian and South streets have put the property up for sale, apparently putting an end to the dream…
