Upsets hurt Big Ten tourney revenue
As a result of quarterfinal losses by Indiana and Purdue, attendance for last week’s men’s Big Ten basketball tournament at Conseco Fieldhouse fell below projections. After Session 3 (the one featuring IU and…
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Tax legislation to become law
Gov. Mitch Daniels is set to sign the property tax legislation tomorrow.
Daniels got most of what he proposed last fall. Homeowners get a tax cut, future bills will be capped and
the sales tax rises to compensate.
Are you happy with…
Roche to move 340 into Marsh offices
Growth at Roche Diagnostics will push across 96th Street and take over the Marsh Supermarkets headquarters building, Roche announced today. By the end of 2010, Roche will transfer roughly 340 jobs to the new location from its campus in the northeast corner of Marion County, which serves as the company’s North American headquarters. Swiss-based Roche, […]
Judge sides with Case retirees
About 3,500 retired employees of J.I. Case Co. – which had a plant in Terre Haute until 1987 – and surviving spouses of retirees have won a lawsuit that provides them with health care benefits for life. The company, now called CNH American and based in Pennsylvania, also must reimburse those covered by the lawsuit […]
Cows, racecars … and now pianos?
Ever since the Chicago cows appeared in 1999, city marketers and arts folks have been trying to find attention-getting gimmicks to boost awareness of their towns’ coolness. Many of these—including our very own artist-decorated race cars—have been reactive rather than…
Menards races back to IRL
The company that powered Tony Stewart to the 1997 Indy Racing League championship is coming back to open-wheel racing. John Menard confirmed that his Menards chain of hardware superstores will be sponsoring Tony…
Report: Mead Johnson parent seeking buyer
Evansville-based Mead Johnson Nutritionals could get a new owner if parent Bristol-Myers Squibb Co. succeeds in finding a buyer. The Financial Times reported Sunday that Bristol-Myers is “quietly sounding out potential bidders” for the baby formula maker. Mead Johnson’s value is estimated at $7 billion to $9 billion. Quoting unnamed sources familiar with the discussions, […]
Indiana Business Bank swings to profit
Indiana Business Bancorp, the Indianapolis-based parent of Indiana Business Bank, reported $14,159 in profit for 2007. That compares with a $675,954 loss of a year earlier. Growth in loan and investment portfolios pushed net interest income up 29 percent, to $2.6 million. Service charges and other fee income increased nearly three-fold, to $180,289. The bank, […]
Ticket to the middle class
Forget outsourcing. A Michigan research group says the larger problem for manufacturing will be finding enough
domestic workers to navigate the complexities of modern factory floors.
The Center for Automotive Research in Ann Arbor contends in a recent report that while…
CEO of struggling ATA parent steps down
The chief executive officer of ATA Airlines’ parent company, Global Aero Logistics, has resigned, according to the Peachtree City, Ga., company. Subodh Karnik, who previously was CEO of Indianapolis-based ATA, was under pressure from New York investment firm MatlinPatterson to make ATA and its two sister carriers profitable. Global Aero’s most recently reported financials show […]
Sinks, brownfields and insurance
Getting you up to date:
Airport sinks approved
The Indianapolis Airport Authority board has approved an obscure bid package known as “T-31” that provides for the installation of floor-level foot sinks for…
UPDATE: Conseco stock slumps
Conseco Inc. shares tumbled today, despite the company’s announcement before trading opened that it was working with investment firm Morgan Stanley to explore “strategic alternatives” aimed at boosting its sagging stock. Such pronouncements typically signal a company is putting itself up for sale, raising the prospect of a rich payoff for shareholders. But Conseco likely […]
Slide in home sales stops in February
Pending house sales in the Indianapolis area increased in February for the first time since April 2007, prompting one expert to say the soggy market might be finding a bottom. The sales, which have been accepted but not closed, increased to 2,132 from 2,113 a year earlier, according to F.C. Tucker Co., which uses data […]
NCAA to IU: Can you hear me now?
The NCAA warned Indiana University in 2006 about hiring coach Kelvin Sampson. And IU didn’t listen. When IU was implicated in five major NCAA rules violations earlier this year, some NCAA officials, sources…
Duke CFO Cohoat resigns
Duke Realty Corp. Chief Financial Officer Matthew Cohoat has resigned. Cohoat, 48, wanted to “reduce his travel schedule and spend more time with his family,” the Indianapolis-based real estate company announced today. He will remain to help with the transition. A replacement wasn’t named. Cohoat held the post since 2004. He also is on boards […]
Bloomington tech parks could conflict
A tech park in downtown Bloomington that has been slow to land tenants since receiving state certification in 2005 may have a harder time filling up now that another tech park is on the drawing board for a nearby site, according to The Herald-Times of Bloomington. Indiana University is considering opening a certified tech park […]
BREAKING: Is Conseco for sale?
Conseco Inc. reported today that it has been working with investment bank Morgan Stanley for months to explore “strategic alternatives” for the company – a phrase often used when a company is searching for a buyer. Carmel-based Conseco made the announcement this morning as it declined a request from one of its largest investors, Steel […]
Hysteria or playing it safe?
Lots of people laughed last week at the Fort Wayne law firm that called police about a suspicious gift
bag it received. The suspicious package had come from a man who was being sued by a client of the…
Auto parts strike claims 250 more workers
Pilkington North America Inc. has temporarily laid off 250 workers at its Shelbyville plant as General Motors Corp. slows production due to a strike at another one of its suppliers, Detroit-based American Axle and Manufacturing Inc. The Shelbyville glass-making plant, which employs 400, might shut down through April 1, according to the Shelbyville News. Pilkington […]
Spotlight on Tippecanoe County
Spotlight on Tippecanoe County The name was adapted from Keth-tip-pe-can-nunk, the Indian name of an 18th-century trading post in the area. 5 LARGEST CITIES/TOWNS population Lafayette ……………………………………61,244 West Lafayette …………………………….28,997 Shadeland …………………………………..1,667 Battle Ground ……………………………….1,368 Otterbein ……………………………………..1,243 5 LARGEST EMPLOYERS employees Purdue University …………………………14,528 Wabash National …………………………..3,200 Lafayette Hospital Inc. …………………….2,400 Subaru of Indiana Automotive […]