With a national unemployment rate of nearly 10 percent eroding its customer base, WellPoint Inc. is cutting at least 30
middle-management employees and reshuffling its corporate organization, according to internal memos obtained by IBJ.
Columbus-based Irwin Financial Corp. has filed for Chapter 7 bankruptcy, setting the stage for the liquidation of the remaining
assets of the troubled banking company.
A former chief financial officer for The Dodson Group has agreed to plead guilty to wire fraud after admitting to stealing
$422,539 from the Indianapolis-based firm.
At first, small-business owner Jim Dodson figured the problem must be a technical glitch. During a routine analysis of
aging unpaid invoices last September, one of his employees couldn’t tie the latest figures to the company’s ledger.
Accounts receivable for his company,
the Dodson Group, had been overstated by $2.7 million—double their true value. And $422,539 was missing from the firm’s
coffers.
David A. Marsh, the former supermarket executive and current president of the Crystal Flash convenience store chain, could
lose his 11,800-square-foot mansion on Geist Reservoir over three defaulted loans.
CTS Corp. CTS Corp., 905 W. Boulevard North, Elkhart, 46514 (www.ctscorp.com), designs, manufactures, assembles and sells electronic components and sensors. For the quarter ended March 31, 2009, the company reported a net loss of $35.7 million, or $1.06 per diluted share, on $118.1 million in revenue. That compares with net income of $6.7 million, or […]
Hurco Cos. Inc. Hurco Cos. Inc., One Technology Way, Indianapolis, 46268 (www.hurco.com), designs and produces interactive computer controls, software and computerized machine systems for the worldwide metal-cutting and metal-forming industry. Its products are sold in the United States, Europe and Asia. For the quarter ended Jan. 31, the company reported net income of $354,000, or […]
Struggling developer Lauth Group Inc. has cut about 90 percent of its staff and lost control of part of its portfolio to a
major equity partner-developments that raise doubts about whether the locally based company can survive the recession.
EXECUTIVE COMPENSATION Total ’08 Salary Stock and All other compensation Bonus option grants (1) pay (2) % change (3) Richard M. Shepperd $801,216 $420,000 $381,216 $0 -53% CEO and president $0 Michael R. Cox $217,980 $165,000 $27,980 $0 12% CFO and vice president $25,000 Edward M. Chait $192,148 $165,000 $27,148 $0 2% chief business officer […]
Struggling developer Lauth Group Inc. has cut about 90 percent of its staff and lost control of part of its portfolio to a major equity partner-developments that raise doubts about whether the locally based company can survive the recession. The firm started 2008 with about 450 employees but after several rounds of layoffs, it now […]
Don Marsh lashed back last month after the owner of Marsh Supermarkets Inc. filed a lawsuit accusing him of billing the company
for millions of dollars in personal expenses.
Don Marsh lashed back last month after the owner of Marsh Supermarkets Inc. filed a lawsuit accusing him of billing the company for millions of dollars in personal expenses. He said in a statement that “it is clear the out-of-state, venture capitalist group ownership is looking for someone to blame for their own poor business […]
Tight budgets, unsure future make moving unattractive to office-space renters.
EXECUTIVE COMPENSATION Total ’08 Salary Stock and All other compensation Bonus option grants (1) pay (2) % change (3) William M. Lasky $789,732 $231,873 $525,833 $32,026 N/A CEO and president $0 Terrence J. Keating $1,281,887 $210,196 $500,000 $571,691 -86% chairman $0 John R. Murphy $2,053,351 $460,136 $850,000 $743,215 6% former CEO and president $0 David […]
The Finish Line Inc. has hired the former chief financial officer of national bookstore chain Borders Group Inc. to take the same position at the Indianapolis-based athletic footwear and apparel retailer. Edward W. Wilhelm, 50, joined Ann Arbor, Mich.-based Borders in 1997 after a four-year stint at Troy, Mich.-based Kmart Corp. He will take over […]
EXECUTIVE COMPENSATION Total ’07 Salary Stock and All other compensation Bonus option grants (1) pay (2) % change (3) Keith E. Busse $3,556,242 $767,500 $741,147 $2,046,595 12% CEO $1,000 Richard P. Teets Jr. $2,067,828 $441,667 $443,051 $1,812,110 21% executive vice president $1,000 Mark D. Millett $2,050,595 $441,667 $443,051 $1,164,877 8% executive vice president $1,000 Gary […]
EXECUTIVE COMPENSATION Total ’07 Salary Stock and All other compensation Bonus option grants (1) pay (2) % change (3) John A. Kite $570,360 $358,125 $186,300 $25,935 19% CEO and president $0 Thomas K. McGowan $479,721 $300,875 $151,163 $27,683 17% chief operating officer $0 Alvin E. Kite Jr. $423,013 $150,000 $255,000 $18,013 34% chairman $0 Daniel […]
DIRECTORS Alvin E. Kite Jr., 74 Eugene Golub, 77 Occupation: Chairman of the Board of the Occupation: Chairman, Golub & Co. company Other directorships: The Family Institute Number of common shares: 4,505,034 Number of common shares: 39,260 Previous year: 3,652,769 Previous year: 28,917 John A. Kite, 42 Gerald L. Moss, 72 Occupation: President and CEO […]
State officials had high hopes for an investment pool created last year to give Indiana’s school districts and local governments a safe, short-term place to deposit taxpayer money and earn interest. Then the economy tanked. The account’s daily interest rate fell from 3.23 percent last February to just 0.53 percent today. Its balance dwindled from […]
State officials had high hopes for an investment pool created last year to give Indiana’s school districts and local governments a safe, short-term place to deposit taxpayer money and earn interest. Then the economy tanked. The account’s daily interest rate fell from 3.23 percent last February to just 0.53 percent today. Its balance dwindled from […]
