Center Township’s Drummer stepping down
Center Township Trustee Carl Drummer intends to resign from his post to take a lobbying job with Ice Miller LLP, according to a WISH-TV Channel 8 report.
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Duke profit beats estimates; shares drop-WEB ONLY
Indianapolis-based Duke Realty Corp. exceeded analysts’ expectations in the fourth quarter, generating funds from operations of 69 cents per share – more than a nickel better than the consensus estimate. Funds from operations is a common measure of financial performance for real estate investment trusts like Duke. Excluding one-time items, funds from operations were 71 […]
Snow causes roof cave-in-WEB ONLY
Heavy snow is being blamed for a west-side roof collapse. The roof caved in at the Knights of Columbus hall at 5350 Allied Blvd. About 150 people were supposed to be there at the time, but the organization canceled its scheduled bingo event due to the bad weather. Leaders of the Knights of Columbus say […]
Conner Prairie ends 2008 in the black-WEB ONLY
Conner Prairie continued to draw more visitors and donor support in 2008, ending the year with a $299,000 surplus, CEO Ellen Rosenthal reported last night at the living-history museum’s annual meeting. But like all of central Indiana’s major cultural institutions, the Hamilton County museum’s multimillion-dollar endowment suffered major market losses, which may reduce operating revenue […]
Super Bowl host committee heads to Tampa-WEB ONLY
Indianapolis’ 2012 Super Bowl host committee is getting a firsthand look at what it takes to put on the big game. The group is leaving for Tampa today as official observers of this weekend’s Super Bowl festivities. Members will have in-depth access to parties, functions and planning. They will also work with Tampa police to […]
Ford loses $5.9B, says still won’t seek aid-WEB ONLY
Ford Motor Co. said today it lost $5.9 billion in the fourth quarter as auto sales slumped, but it has no plans to seek federal aid unless economic conditions worsen. The second-largest U.S. automaker said it burned through $5.5 billion in the quarter, less than the $7.7 billion it used in the third quarter. The […]
L’explorateur latest eatery to close-WEB ONLY
Upscale Broad Ripple restaurant L’explorateur, which prides itself on an avant-garde menu built around locally grown food, is closing Saturday. Owner Neal Brown, who opened the restaurant in May 2006, informed customers of his decision this week on his blog. Plans for a downtown location are still in the works, however. Brown could not be […]
Starbucks profit plummets; more closings brewing-WEB ONLY
Starbucks Corp. plans to slash 6,700 more jobs during a new round of store closures and other cuts, the company said yesterday as it reported that its profit dropped by more than two-thirds in its fiscal first quarter. The gourmet coffee chain plans to close 300 underperforming stores around the world – including 200 in […]
Guard assists Evansville residents without power-WEB ONLY
So many people in Evansville are dealing with power outages that the Indiana National Guard has been called in. Vectren Energy reports about 65,000 southern Indiana customers are without power. Hoosier National Guard soldiers are helping first responders take people to warming centers. Fox 59 will have more at 10 p.m.
Lilly still eyeing deals despite ImClone hit-WEB ONLY
Even after Eli Lilly and Co. wiped out its 2008 profit to buy ImClone Systems, CEO John Lechleiter said his company still has plenty of powder for more purchases. But Lechleiter said he has no plans to do a mega-deal on par with Pfizer Inc.’s acquisition of Wyeth, announced this week. Instead, Lechleiter wants to […]
Rahal-Letterman pulls out of IndyCar series-WEB ONLY
Rahal Letterman Racing has pulled out of the 2009 IndyCar Series because it cannot find a sponsor to support its program. RLR becomes the latest racing team to be affected by the reeling economy. The team won the Indianapolis 500 with Buddy Rice in 2004 and brought Danica Patrick to the IndyCar Series. “At this […]
Major team, sponsor depart IRL
Despite today’s announcement that Rahal Letterman Racing—the team that gave Danica Patrick her start—is leaving the Indy Racing League, series officials are still “bullish” on next season.
“Bobby Rahal and Dave Letterman have been good…
Pinball passion resparked
At the tail end of an IBJ piece I wrote last week on Xscape, the amusement center at Lafayette Square Mall, I lamented the absence of pinball machines at the facility.
Growing up in the boardwalk town of Wildwood, NJ,…
Zimmer profit falls 37 percent on buyout costs-WEB ONLY
Orthopedic implant maker Zimmer Holdings Inc. today said its fourth-quarter profit dropped 37 percent due to slowing sales and the cost of buying Abbott Spine. Warsaw-based Zimmer said its profit decreased to $167.5 million, or 75 cents per share, from $263.8 million, or $1.12 per share, in the prior-year period. Revenue fell 4 percent to […]
Duke profit down, ’09 dividend slashed-WEB ONLY
Indianapolis-based Duke Realty Corp. exceeded analysts’ expectations in the fourth quarter, generating funds from operations of 69 cents per share – more than a nickel better than the consensus estimate. Funds from operations is a common measure of financial performance for real estate investment trusts like Duke. Excluding one-time items, funds from operations were 71 […]
ImClone deal hurt Lilly’s fourth quarter-WEB ONLY
Eli Lilly and Co. posted a $3.6 billion fourth-quarter loss because of its $6.5 billion acquisition of New York-based ImClone Systems Inc. Not counting that deal, however, Lilly’s profits beat the expectations of Wall Street analysts by two cents per share. Indianapolis-based Lilly earned $1.07 per share excluding the ImClone purchase. Analysts were expecting $1.05 […]
Trendy retail shakeup on Mass Ave
One locally owned retailer aiming for a New York City vibe is closing and another is opening along Mass Ave downtown. The boutique shop Tantrum, which opened…
Greenwood delays plans for new city hall-WEB ONLY
Greenwood officials are putting plans to build a new city hall on hold until they know whether the city will add an unincorporated area with about 40,000 residents. The Johnson County community just south of Indianapolis currently has about 47,000 residents. Greenwood Mayor Charles Henderson told the Daily Journal of Franklin that city leaders don’t […]
Expert: Put conditions on Pacers bailout-WEB ONLY
Marion County‘s Capital Improvement Board may be preparing to swallow an extra $15 million in expenses to keep the Indiana Pacers in town, but one sports business expert said the aid shouldn’t come without conditions. “They have to demand something in return from the Pacers, either more community involvement or some measures from management to […]
Time for Ballard to face storm
Until now, Mayor Greg Ballard hasn’t weighed in on the topic of financially assisting the Indiana Pacers. When last asked by the IBJ in late December, Ballard offered the following response.
“[The Pacers] haven’t…