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Cook splits device unit to focus on cancer-WEB ONLY
The Turtles crooned that they were “so happy together.” But Cook Medical is thinking just the opposite. It has split its interventional devices business into two units, pulling its lesser-known cancer products out from under the shadow of its heart products, such as metal stents and angioplasty balloons used to prop open arteries. Cook hopes […]
PNC to cut 5,800 jobs, most from National City-WEB ONLY
PNC Financial Services Group Inc. said yesterday it plans to cut 5,800 jobs by 2011 – including 4,000 at Cleveland-based National City Corp., which it bought late last year.The Pittsburgh bank completed its acquisition of National City on Dec. 31. National City has 75 branches and 1,200 employees in the Indianapolis area, ranking it the […]
ITT Corp. planning to add 220 jobs at Crane-WEB ONLY
Defense contractor ITT Corp. plans to locate a new avionics repair and testing facility at the Crane Naval Surface Warfare Center southwest of Bloomington, creating more than 220 jobs within six years. ITT’s Electronic Systems business, based in Clifton, N.J., will invest more than $10 million to develop a regional electronics repair and evaluation hub […]
Foundations narrow focus-WEB ONLY
Some major foundations in central Indiana are narrowing grantmaking criteria so they can funnel their reduced asset streams toward pressing needs brought on by the recession. “This is not the year to be wide open,” Central Indiana Community Foundation President Brian Payne said. Two major funds under the CICF umbrella, the Indianapolis Foundation and the […]
Conservation grant could boost IMA’s status-WEB ONLY
Art conservators are like Santa’s elves, working anonymously and unseen on objects that bring great joy to other people. But instead of toys, conservators concentrate on the paintings and objects that can make their museums renowned. So the excitement in Conservator-in-Charge David Miller’s voice wasn’t surprising after he learned today that the Indianapolis Museum of […]
Lilly’s prasugrel gets FDA advisory panel OK-WEB ONLY
Eli Lilly and Co. has won the unanimous backing of an advisory panel to introduce the first rival to the blood-thinner Plavix, the world’s No. 2-selling drug, Bloomberg News reported. Advisers to the U.S. Food and Drug Administration voted 9-0 today in Silver Spring, Md., that Lilly’s blood thinner prasugrel should be approved to reduce […]
IRL might delay engine changes
There were some interesting revelations during an Indy Racing League press conference today to discuss the on-going Automotive Manufacturers Roundtables designed to bring about expanded engine manufacturer participation and to help define a…
GM’s domestic auto sales fall 49 percent-WEB ONLY
General Motors’ U.S. vehicle sales plunged 49 percent in January while Ford’s sales dropped 40 percent, starting 2009 at an abysmal pace for the auto industry as lower sales to fleet buyers like rental car companies weighed down U.S. automakers’ results. Japanese rival Toyota’s sales dropped 32 percent for the month, and Honda’s sales fell […]
GM to offer buyouts to all hourly employees-WEB ONLY
By DAN STRUMPF AP Auto Writer NEW YORK General Motors Corp. will offer buyouts to all of its hourly employees, a spokesman confirmed Tuesday, as the troubled automaker continues to slash costs. GM spokesman Tony Sapienza said the buyouts will mainly target GM’s 22,000 retirement-eligible hourly employees, though any union employee can take the offer. […]
IRL keeps 5 manufacturers in talks for new engines-WEB ONLY
Indy Racing League officials say five engine manufacturers are still in competition to provide new engines for the IRL. The companies still in discussions with the Indianapolis-based league are Honda, Audi, Fiat, Porsche and Volkswagen. Honda has been the sole supplier of Indy V8 engines since 2006. New specifications are not expected to be finalized […]
State recognizes 19 small businesses-WEB ONLY
Nineteen small businesses from across the state, including two in Indianapolis, received inaugural Economic Development through Entrepreneurship awards today. Sponsored by the Indiana Economic Development Corp.’s 10 regional small-business development centers, the awards recognize client companies that are both established and emerging. Indianapolis-based Safis Solutions LLC, which provides regulatory-compliance and quality-assurance management to pharmaceutical and […]
UPDATE: Cummins’ record year ends on sour note-WEB ONLY
Cummins Inc. is bracing for a rocky 2009 after reporting a 55-percent plunge in fourth-quarter profit this morning. The Columbus engine maker reported earnings of $89 million, or 45 cents a share, down from $198 million, or $1 a share, in the same period a year ago. Fourth-quarter sales fell 6 percent, to $3.3 billion, […]
IMPD releases info on east-side shooting suspect-WEB ONLY
Indianapolis police have released new details on the man they suspect injured five people in a nightclub shooting early Sunday at Ritter Avenue and Brookville Road. Investigators are looking for Anthony Moore, 28, also known as Anthony Leroy Bobbitt. They believe Moore fired a semi-automatic handgun into a crowd at the King of Clubs Lounge, […]
WellPoint using $1B bond sale to reduce debt-WEB ONLY
WellPoint Inc. intends to use proceeds from a $1 billion bond sale to buy more of its own stock and repay short-term debt. The Indianapolis-based health insurer sold $400 million of five-year bonds and $600 million in 10-year bonds, according to securities filings. The bonds pay interest of 6 percent and 7 percent, respectively. The […]
Study: Secondhand smoke cost state $390M in ’07-WEB ONLY
A new study from Indiana University’s Bowen Research Center says secondhand smoke cost the state $390.3 million in excess medical expenses in 2007 – about $62 per person. The center, part of IU’s School of Medicine, conducted the study for the Indiana Department of Health’s Smokefree Indiana campaign and the Indiana Tobacco Prevention & Cessation […]
Discrimination claims surface within public safety ranks-WEB ONLY
A new lawsuit claims African-Americans aren’t treated fairly when it comes to hiring and promotions within the Indianapolis police and fire departments. More than 30 minority officers and firefighters signed on to the suit, which claims current promotions criteria leave black officers stuck in low-ranking jobs longer than white officers. A group of white officers […]
Sheriff’s Department to unveil new GPS system-WEB ONLY
The Marion County Sheriff’s Department hopes a new GPS tracking system will help improve safety and response times. Officials will unveil the new technology this afternoon. The system is designed to track all MCSD vehicles. The system is also expected to increase the efficiency of dispatchers, and enhance the safety of deputies and the public […]
Bill would allot $800M for local road projects-WEB ONLY
The Indiana House Ways and Means Committee has endorsed a bill to fund local road projects. The bill, which was approved on a 15-8 party-line vote, would give $800 million from the lease of the Indiana Toll Road to cities, towns and counties. Democrats say the bill would create thousands of new jobs, but critics […]
Cummins’ record year ends on a sour note-WEB ONLY
Cummins Inc. is bracing for a rocky 2009 after reporting a 55-percent plunge in fourth-quarter profit this morning. The Columbus engine maker reported earnings of $89 million, or 45 cents a share, down from $198 million, or $1 a share, in the same period a year ago. Fourth-quarter sales fell 6 percent, to $3.3 billion, […]