Slow economy bruises profits of Indiana’s largest public companies
One-time events influenced bottom lines of some of the few companies that made more money in 2009.
One-time events influenced bottom lines of some of the few companies that made more money in 2009.
Here’s the new plan: Purchase the stock at $7.25 to $7.50 a share, and hope to realize a 15-percent to 20-percent gain
in the short term.
CEO Donald Brown saw a 32.4-percent increase in total compensation last year as the software-maker's shares soared 169
percent.
A former executive of Indianapolis-based engineering firm The Schneider Corp. has been named CEO of Imavex LLC, a Noblesville-based
Web site developer and Internet marketing consultant.
A city planning board has denied a request from IBJ Media Corp. for a new sign including a small variable-message component
outside its headquarters at 41 E. Washington St.
Dr. Judy Monroe will end a five-year run as Indiana state commissioner of health on March 8. She will become
deputy director of the U.S. Centers for Disease Control and Prevention, overseeing communication between federal and state
public health agencies. Until Gov. Mitch Daniels names a replacement, Monroe’s deputy, Loren Robertson, will fill her
shoes.
Community Heart and Vascular, a unit of Community Health Network, named Kevin Fowler chief financial officer.
Fowler, who earned his MBA at Indiana State University, has been the CFO at Lubbock Heart Hospital in Texas since 2007.
Community Heart and Vascular hired two electrophysiologists, Dr. Chad Bonhomme and Dr. Krishna Malineni,
along with Dr. Shalabh Singhal, an invasive cardiologist. The unit of Community Health Network has now hired
eight physicians in the past year.
OrthoWorx, a Warsaw-based group focused on advancing the city’s orthopedics implant industry, named Cheryl
Blanchard as its chairperson. Blanchard is chief scientific officer at Warsaw-based Zimmer Holdings Inc.
Bloomington-based Cook Pharmica promoted Veda Walcott to be its vice president of quality and corporate
compliance officer. Walcott has worked for Cook Pharmica since 2005 after stints at Cook Medical and Baxter BioPharma Solutions.
Dr. Richard Aina, an internist who focuses on chronic diseases, has joined St. Vincent Physician Network
in Indianapolis. Aina received his medical degree from the University of Illinois College of Medicine in Champaign, Ill.
Duane M. Schmitz, a former executive at Eli Lilly and Co., has joined Indianapolis-based Harrison College
as president of its online division. Nearly half of the for-profit school’s students take at least one course online.
Bioanalytical Systems Inc., a West Lafayette-based life sciences contract research firm, on Wednesday reported a loss of $1.4
million for its fiscal first quarter.
Indianapolis is on the verge of losing one of its most prominent public companies. The Steak n Shake Co. is planning to
change its name to Biglari Holdings Inc. and move its headquarters to San Antonio. The Steak n Shake restaurant chain would retain a presence in Indianapolis.
Indiana Court of Appeals agrees with lower court’s decision to appoint receiver to oversee finances of ex-wife of convicted
money manager Marcus Schrenker.
The largest creditor for Lauth Group Inc. has asked a bankruptcy judge to appoint a trustee after evidence in a related case
suggested Lauth insiders may have backdated documents to thwart creditors.
en years ago, Dodson Group CEO Jim Dodson came to IBJ with an idea to launch a program that would recognize
best practices in the not-for-profit community and reward organizations that practiced them. And not just with
a pat on the back—with hard cash.
Indianapolis-based Centaur LLC, owner of Anderson’s Hoosier Park horse track and casino, missed a $13.4 million interest payment due Tuesday on its more than $400 million in outstanding debt, putting the company in default with its lenders.
Investors dumped shares of ITT Educational Services Inc. on Thursday morning as the company remained mute on its year-end
profit forecast while announcing that its bad-debt expenses were rising faster than revenue.
The city too often relied on the Department of Waterworks’ board, on consultants and on the private
operator, Veolia Water, rather than on the department’s own staff “to ensure safe and efficient
operation, maintenance and management” of Indianapolis Water. That’s one of several critical
findings of a consultant hired by the department and filed as part of a 35-percent rate-hike request
pending before the Indiana Utility Regulatory Commission.
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.
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 […]