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RNet Communications, an Internet service provider, has filed Chapter 11 bankruptcy reorganization, according to the Reporter-Times. A fire on Aug. 27 destroyed the Martinsville-based company’s building and forced it to relocate.
BP Plc, the British oil giant, said today it will be more proactive in improving process safety at its five refineries, including its refinery in Whiting. An independent panel formed after a September 2005 explosion at BP’s Texas City, Texas, refinery concluded that management mistook improvements in rates of personal injuries as evidence of a […]
Kar Holdings II said today it plans to place its own senior managers at Adesa Inc., the Carmel-based car auction the private fund is buying for $3.7 billion. Chairman and CEO David Gartzke will be replaced by Brian Clingen. Clingen is an investor and board member of another auto auction Kar bought, Insurance Auto Auctions […]
Kar Holdings II said today it plans to place its own senior managers at Adesa Inc., the Carmel-based car auction the private fund bought in December for $3.7 billion. Chairman and CEO David Gartzke will be replaced by Brian Clingen. Clingen is an investor and board member of another auto auction Kar bought, Insurance Auto […]
The Hyatt Regency Indianapolis and National City Center will undergo a $14 million renovation that is set to begin next week. The bulk of the redesign—$11 million—will go toward adding 10,000 square feet of meeting space, an Italian/American restaurant, a Starbucks coffee shop and upgrading a lounge in the lobby of the downtown hotel. National […]
Guide Corp.’s abrupt decision Friday to close its tail light plant in Anderson immediately instead of in June sped a long-term trend in the city northeast of Indianapolis. For November, the latest month for which statistics are available from the U.S. Department of Labor, Madison County employment was 44,400 down from 50,100 in 1995. The […]
Eli Lilly and Co.’s decision last week to end construction on its $325 million insulin production plant near Washington, D.C., is a “clear blow” to the area’s attempts to launch a biotechnology industry, according to The Washington Examiner. Still, the newspaper reported, Prince William County, Va., will overcome the setback and attract international companies to […]
Imaging Office Systems has bought Frontline Imaging of Schaumburg, Ill., for an undisclosed price to digitize paper documents in the Chicago suburb. Imaging Office Systems, owned by Gary Gushard of Columbia City and headquartered in the northern Indiana community, maintains 125 of its 200 workers in the Indianapolis area. The company also sells scanners and […]
Stock in Biomet Inc. might be delisted from NASDAQ Global Select Market on Jan. 22 because it missed a deadline for filing its financial report with the Securities and Exchange Commission for its second fiscal quarter, the Warsaw prosthetics company announced today. Biomet said it plans to appeal the decision within NASDAQ, and that the […]
A Terre Haute plant that makes gas turbine components is part of a $4.8 billion acquisition of its British parent announced this morning by General Electric Co. Connecticut-based GE said it wants the parent, Smiths Aerospace, for its electronic and mechanical products in order to improve its commercial and military jet engines and services. The […]
Eli Lilly and Co. has sued DHL Express USA and Lufthansa Cargo on claims the shipper and airline allowed its Humulin, Humalog and Humatrope drugs to spoil, according to Miami Daily Business Review. The December suit, filed in U.S. District Court in Miami, alleges DHL and Lufthansa let the insulin and growth hormone products freeze […]
The town of Burns Harbor is springing back after Bethlehem Steel filed bankruptcy in 2002 and gutted 85 percent of the town’s net assessed tax valuation. The good reputation of its Duneland schools, quick access to several major highways and low tax rate of 17 cents per $100 assessed valuation has prompted a miniature boom […]
On a cold and rainy day and wearing only a thin jacket, Maria walked eight miles to get help. She was pregnant and seeking prenatal care. Her husband had deserted her. The pervasiveness of unemployed and working-poor families presents a growing challenge. Most are underinsured or have no health insurance at all. That means our charity-care system is stretched to the maximum. One north-side center that provides care for the uninsured and underinsured has seen a 15-percent increase in patients…
A cash-flow squeeze and a shortage of baby deliveries caused Monroe Hospital to stumble after its October launch. But the leader of Indiana’s newest general service hospital envisions a full recovery. The $39 million, doctor-owned hospital in Bloomington recently dropped childbirth services due to lack of deliveries, CEO Dean Melton said. Monroe also struggled with tight finances as it waited more than two months for the first revenue to trickle in. Meanwhile, a founding physician who has the hospital’s road…
The gyms are full, Slim-Fast is flying off the shelves, and the closets are scheduled for cleaning. Human beings regularly view the turn of the calendar as an opportunity to take stock of their affairs, and to vow to change things that need adjustment. So, add to your agenda a review of your investment program. This annual checkup will include an assessment of the performance of your portfolio for 2006. But it is wise to reserve your harshest judgments for…
I’ve seen the picture of the proposed ginormous art installation for downtown, and I think I speak for many of us when I say … Well, come to think of it, I better not say that, seeing as how many of us do not use that kind of language. In case you missed it, here’s the deal: There’s a movement afoot to erect a large, circular, steel, Dairy Queen curlicue over at 11th and West streets-a $10 million large, circular,…
Just because House Speaker Pat Bauer, D-South Bend, finessed the new legislative session’s first area of potential legislative c o n t r ove r s y – t h e opening prayer-without any fuss (and even with some compliments from both sides) doesn’t mean you should expect the next 14-odd weeks to slide by as a big legislative lovefest. However, you should consider his action in the broader context we outlined last week: where House Democrats can find bottom-line…
One of the nation’s most prominent aviation schools is giving Indianapolis another chance. After withstanding a plunge in enrollment, Embry-Riddle Aeronautical University is adding five degree programs at its center here, with most of them aimed at careers outside the turbulent commercial aviation sector. It also plans to expand beyond its local student base of mostly working adults to court recent high school grads. Though in Indianapolis for 13 years, Embry-Riddle has had all the profile here of a stealth…
Local officials for Georgiabased Cumulus Media Inc. have taken another risky leap, launching central Indiana’s first commercial
news-talk format on the FM dial.
The Indiana Department of Transportation may yet allow a partial opening of one or two Interstate 70 interchanges on the east side during a 10-month reconstruction of the main artery between downtown and Interstate 465. City-County Councilor Mary Moriarty Adams said she’s been talking with INDOT officials and with Mayor Bart Peterson in recent days about the potential harm to businesses of having all the interchanges closed. “We’re hopeful that we can have some exit and/or on ramps open at…
