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An expansion Interactive Intelligence Inc. committed to several years ago has been given a breath of new life. The northwest side software developer has started construction on a four-story building that will mirror its existing headquarters, according to Jeb Conrad, executive director of Indianapolis Economic Development. The $40 million expansion will add 637 employees to […]
Has anyone heard who might be interested in buying the Canterbury Hotel? IBJ reported this week that the owners of the 99-room property are negotiating to sell. You can read our story here. Sources are telling Property Lines…
Steel Dynamics Inc. CEO Keith Busse said today that it is considering whether to make an offer for Lisle, Ill.-based Ipsco Inc., which makes steel pipe for the energy industry. Also showing interest in Ipsco are Evraz Group SA of Russia, according to Bloomberg.
Indianapolis-based Barnes & Thornburg has lost a second of its lobbyists linked to a congressional bribery and corruption scandal surrounding jailed lobbyist Jack Abramoff. Kevin A. Ring resigned Friday from the Washington, D.C., office, managing partner Alan Levin said. The move came more than a year after another lobbyist, Neil Volz, severed his ties […]
Moody’s Investors Service today downgraded the city’s financial rating, citing "significant challenges funding its public safety, justice and other social service functions." The city’s underlying general obligation rating was bumped down to Aa1 with a stable outlook, from AAA with a negative outlook. The rating involves $289 million of outstanding debt. The New York ratings […]
In October, 2005, Scott Jones’ robot-driven Jeep Rubicon crashed at the start of its first major competition. But the setback didn’t deter the entrepreneur. Jones announced today that he has formed a Camel-based company, Precise Path Robotics Inc., to commercialize his automatic pilot technology for use mowing grass on golf courses. Eventually, the company’s computerized […]
The House votes today whether to send to the governor a bill with tax incentives for film productions. House Bill 1388 would give companies a tax credit equal to 15 percent of production costs for most film, music and commercials produced in the state if their budgets exceed certain thresholds. Fiscal analysts predict the measure […]
Indiana State University, Rose-Hulman Institute of Technology, the city of Terre Haute and the city’s economic development organization are formalizing their attempts to create jobs in the western Indiana city. This morning, the parties plan to roll out Terre Haute Innovation Alliance to encourage college students to start businesses and help existing businesses expand. The […]
We’ve officially launched IBJ’s first blog. As you can see, it’s called Property Lines. The topic is real estate. The idea is to create a forum for real estate enthusiasts. I hope you’ll help me make that happen, by sending…
Fort Wayne-based Steel Dynamics Inc. said first-quarter profit shot up 34 percent, to $102 million, on strength across its units. The steelmaker, which operates a recycling mill west of Indianapolis at Pittsboro, also said President and CEO Keith Busse will become chairman and CEO on May 1. Two executive vice presidents will report to Busse—one […]
This afternoon, Gov. Mitch Daniels is scheduled to be in Batesville at Hill-Rom Inc. headquarters for an economic development announcement. Daniels’ office hasn’t released details. This morning, officials in Terre Haute will announce a plan to generate jobs and keep more graduates of Indiana State University and Rose-Hulman Institute of Technology in the area after […]
Analysts who follow newspaper stocks are dropping their coverage because investor interest in the industry has shriveled. Citing the circulation trend, one Goldman Sachs Group Inc. analyst compared himself to the Maytag repairman no one wants to call, according to Bloomberg. Others are following different industries or pursuing new careers. Long-time analyst John Morton wrote […]
One of the toughest tables to land at the new Harry & Izzy’s restaurant that opens today may be the spacious booth between the kitchen and the bar, at least once people find out it’s now known as Peyton’s Table….
AT&T Inc. announced this morning that it will open a Cingular Wireless call center in Evansville that will employ more than 500. The $22 million center will serve wireless customers in AT&T’s Business Marketing Group. Neither a location for the 75,000-square-foot project nor an opening date was included in the announcement. In February, AT&T said […]
Fifth Third Bank, National City and other banks have started an advertising campaign to convince people to save more money. Not only do banks have to work harder to build deposits, which in turn are redeployed as loans, but the nation now spends more than it saves, according to The Journal Gazette of Fort Wayne. […]
Eli Lilly and Co. today boosted profit forecasts for the year while reporting that first-quarter profit fell nearly 40 percent. Officials for the Indianapolis drugmaker said they were encouraged by strong trends in certain parts of the company’s business. Excluding one-time costs, such as the recent purchase of Icos Corp., they raised full-year profit guidance […]
Fortune Industries Inc. has closed its acquisition of Employer Solutions Group of Salt Lake City, Utah. The cash-and-stock deal is valued at $11.2 million. Employer Solutions Group provides human resource management services, such as payroll and benefits administration, to about 375 companies, and will retain its Salt Lake City headquarters and regional office in Loveland, […]
Indianapolis drugmaker Eli Lilly and Co. saw first-quarter profit fall nearly 40 percent from a year earlier, to $508.7 million, due to its $2.3 billion acquisition of Bothell, Wash.-based Icos Corp. Lilly developed the erectile dysfunction drug Cialis in a joint venture with Icos. Without the Icos expense, Lilly profit jumped 9 percent, to […]
Sallie Mae, the student loan provider, has agreed to be acquired by J.P. Morgan Chase & Co., Bank of America, and two private investment funds for $25 billion, The Wall Street Journal reported this morning. Reston, Va.-based Sallie Mae, officially known as SLM Corp., employs 2,300 workers in Fishers and another 500 in Muncie. […]
Gov. Mitch Daniels is expected to be in Evansville at 11:30 a.m. Eastern time today to participate in an AT&T announcement that it will place a call center in the southwestern Indiana city. The call center, which will service Cingular Wireless customers, will employ more than 500, according to the Evansville Courier & Press. […]
