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Biomet Inc. chief executive Dane Miller won’t lead the Warsaw prosthetics company after the close of its $10.9 billion sale to a group of private equity investors, according to Greater Fort Wayne Business Weekly. Miller, who has an equity stake in the acquisition, will be a director. But his involvement won’t extend to a formal […]
Advance Auto Parts Inc. announced today it will build a warehouse near Remington to serve its Midwestern stores. The 500,000-square-foot facility will hire 600 and be completed in summer 2008, according to the Roanoke, Va., retailer of aftermarket auto parts. Remington is north of Lafayette and near Interstate 65.
Carmel-based N/Frame, an Internet and hosting provider, said today that it has been acquired by Continental Broadband of Norfolk, Va., for undisclosed terms. N/Frame Chief Operating Officer Bob Alcorn said its owners, the Dunigan family of Evansville, felt it was better to find a buyer than undertake an expansion that would have required extensive investment. […]
Emmis Communications Corp. CEO Jeff Smulyan won’t have to face his nemesis—Elkhart-based investment manager Frank Martin—when the company holds its annual meeting tomorrow. Martin has submitted a proposal on the meeting agenda that would do away with a special class of stock that gives Smulyan 60 percent of the company’s voting power, even though […]
The Home Depot announced this morning that it will evaluate a sale, spin-off or initial public offering for its HD Supply unit. Atlanta-based Home Depot said it is launching the strategic review because the business might offer shareholders more value under different ownership. HD Supply, which does $12 billion a year in sales, has several […]
Ivy Tech Community College of Indiana and Indiana Business College are bracing for an expected wave of enrollments, now that three big auto parts companies have announced plant closings in Indiana this year, according to The Star Press of Muncie. The 2004 closing of Thomson Consumer Electronics’ television picture tube plant in Marion caused a […]
We are still in a bull market. It’s an old one, and on a global scale not everything is exactly firing. Bigname stocks like Apple and Google are getting knocked around, and the money you plowed into Chinese stocks a few months ago is losing ground. But on a risk-adjusted basis, we are in a place to make some decent money. You just have to know where to look. The “where” is the part giving investors fits lately. By taking…
Let’s see now … The city of Indianapolis announces it is formally pursuing the 2011 Super Bowl. Indiana University defeats second-ranked University of Wisconsin in Assembly Hall, ending the Badgers’ chances of becoming the first team since IU in 1976 to go through the league unbeaten. North Central High School’s Eric Gordon goes for 43 points in a nationally televised game against a Chicago high school team featuring the two sons of Michael Jordan, who watches from the bleachers. Butler…
The Time Factory founder and CEO Jim Purcell wants to erect a 150-foot-tall wind turbine above his calendar factory near 62nd
Street and Georgetown Road. Purcell figures the $200,000 contraption could power 60 percent–if he’s lucky, maybe 80 percent–of
his 22,000-square-foot facility.
Certain days of the year are always popular for weddings. Nothing can beat the romance of a Valentine’s Day nuptials or the fun of a New Year’s Eve ceremony. But this year, couples have a once-in-alifetime opportunity to tie the knot on a unique day-July 7, 2007, or 7/7/7. Whether brides and grooms are choosing the date for luck or the ease of remembering their anniversary, July 7, which happens to be a Saturday, is turning out to be one…
Indianapolis airport officials are considering building a smaller version of FedEx’s 2-million-square-foot hub here, one
that could accommodate several cargo carriers from around the globe. The “international air cargo facility” could be up to
several hundred thousand square feet large and could cost tens of millions of dollars to build.
It’s a long shot-probably longer than the odds the Chicago Bears faced against the Indianapolis Colts-but the city could host the Super Bowl in 2011 and the Republican National Convention the following year. City leaders hope to convince NFL owners that the city is more deserving than Phoenix, Dallas and possibly New Orleans, which could be the sentimental favorite if, in fact, it submits a bid. Indiana Republicans, meanwhile, are setting their sights on 2012 and are just beginning to…
After decades of Affirmative Action, women occupy fewer than one-fourth of U.S. university presidents’ offices-this despite females making up 58 percent of undergraduates, according to the U.S. Education Department. Women made decent strides between 1986, when 10 percent of college presidents’ offices were occupied by women, and 2001, when 21 percent had women. However, between 2001 and 2006, the number barely changed. In the most recent survey by the Washington, D.C.-based American Council on Education, a public-policy advocacy group, preliminary…
MICKEY MAURER Commentary A plug for non-partisan policy making In my final week as secretary of commerce, I appeared at a hearing before the State Budget Committee on behalf of the Indiana Economic Development Corp. The hearing was the first step in the reauthorization process for operating budget and incentive program funding for fiscal years 2008 and 2009. It was to be my final presentation at the Statehouse. In an effort to demonstrate that the Legislature was reaping a handsome…
Like lots of little baby boomers, I first encountered Valentine’s Day in elementary school. My parents would take me to the dime store or drug store. We’d buy 35 or 40 overly cute cards. Then, using a list provided by my teacher and under Mom’s careful supervision, I’d sign and hand-address one for each classmate. And woe to anyone who excluded even a single soul. We couldn’t, after all, have a little baby boomer feeling unloved. In seventh grade, I…
Brightpoint Inc. shares have shed 60 percent of their value since April 2006. But the distributor and logistics provider for the wireless phone industry continues to turn a tidy profit, and in recent months has cut a flurry of deals that bode well for the future. Don’t think the nation’s private equity fund managers haven’t noticed. Flush with billions of dollars to invest, they’re poring through spreadsheets in search of undervalued acquisition targets. So no one should be surprised that…
Until now, gaining entrance into the exclusive nine-hole golf course built on 40 acres next to the Indianapolis Metropolitan
Airport in Fishers was as difficult as a commoner scoring an invitation to a royal palace. But admittance to Balmoral is loosening–a
little.
I closed my last column by suggesting that the markets seem to be paying little attention to risk across a broad range of asset classes. One measure of risk is stock market volatility, or the magnitude of ups and downs in stock prices. The Wall Street Journal recently reported the following statistics compiled by the market analysts at Ned Davis Research: It has been almost 1,000 trading days since the Dow Jones industrial average has seen a 10-percent decline from…
A handful of bills pending in the General Assembly could have a major impact on Indiana’s high-tech sector. Legislation under consideration could stimulate increased commercialization of patented Indiana technology, channel more money toward development of alternative fuels, require regular review of Indiana’s certified technology parks, and more. Tech leaders are optimistic about the chances their agenda will be approved. “It’s the reason we married up with CICP,” said Ron Brumbarger, chairman of TechPoint, a trade association for Indiana high-tech companies….
Outside of Marion County, this is probably unknown. Even inside the county, few are aware of Mayor Bart Peterson’s proposal to issue $450 million in bonds because of shortfalls in the money available for police and fire pensions. These are obligations to those who served before 1977. The issue seems too complex for most of us to get into. Also, it’s something going on in Marion County. Who cares? If it isn’t the Colts, does it matter? Despite these feelings,…
