Indiana-based Omnicity Corp. has filed countersuits against the owners of two companies it acquired who are charging in court that Omnicity failed to fully pay them for the acquisitions.
Carmel-based KAR Auction Services Inc. announced Wednesday that it pulled in profit of $7.3 million in the three months ended Dec. 31, a 38-percent jump from the $5.3 million earned in the same quarter the prior year.
The Republican-ruled Senate voted 31-18 Tuesday for the bill, which contains penalties for businesses that hire illegal immigrants and allows police officers to ask someone for proof of immigration status if they have a reasonable suspicion the person is in the country illegally.
It’s no secret Wall Street analysts take a dim view of Eli Lilly and Co.’s future profit potential. Only two out of 22 analysts recommend buying the Indianapolis-based company’s stock. And here’s why: Lilly ranks last among nine pharmaceutical companies in pipeline sales potential by the year 2015, according to an analysis by Dr. Tim Anderson, a pharmaceutical analyst at Bernstein Research. Anderson adds up the five-year sales forecasts for all drugs under development by the nine drugmakers. Pharmaceutical journalist Jim Edwards noted that such predictions are notoriously unreliable, but it’s the best investors have to go on for predicting the pharma future. At the top of Anderson’s ranking is Switzerland-based Novartis AG, estimated to generate $4.5 billion in sales from pipeline drugs by 2015. Lilly brings up the rear with $1 billion in projected sales. Smack in the middle of the list is New York-based Bristol-Myers Squibb Co., which is roughly equal in size to Lilly and is projected to pull in $3.2 billion from pipeline drugs.
CNO Financial Group Inc. boosted its operating profits 62 percent in the fourth quarter, besting analysts’ estimates by 2 cents per share. The Carmel-based life and health insurer on Tuesday said it earned $168.2 million in the final three months of last year, a big jump from the $18.2 million profit it posted in the same quarter the prior year. Most of the increase in the most recent quarter came from investment gains. Excluding those, as well as special accounting and debt charges, CNO had a quarterly operating profit of $51.7 million, or 18 cents per common share. On that same basis, Wall Street analysts were expecting the company to earn 16 cents per share, according to a survey by Thomson Reuters. A year ago, CNO’s operating profit was $32 million, or 15 cents per share. Revenue for the quarter rose nearly 2 percent to $1.08 billion. The main improvement came on policies that CNO still holds but is no longer actively selling. That division, called “Other CNO Business,” recorded a fourth-quarter profit of $6 million, compared with a nearly $30 million loss in the same quarter last year. That helped mask a drop in profit at CNO’s main Bankers Life unit, based in Chicago. It earned $71.4 million in the quarter, a fall of 16 percent.
The Carmel-based life and health insurer, in an after-markets announcement, said it earned $168.2 million in the final three months of last year, a big jump from the $18.2 million profit it posted in the same quarter the prior year.
Republican Sen. Mike Delph of Carmel, the author of a contentious Arizona-style bill to crack down on illegal immigration in Indiana, won't be present if the state Senate votes on the measure Tuesday.
Union supporters shouted "lie" and "shame" at members of a Republican-led Indiana House committee who voted in favor of so-called right-to-work legislation, after impassioned arguments that it was aimed at weakening unions and would drive down wages.
A bill aimed at having an Arizona-style crackdown on illegal immigration in Indiana is on its way to the state Senate, but some Republican senators expressed concerns Thursday about the ramifications for law enforcement and taxpayers.
E.Com Technologies LLC, which serves the large Centennial subdivision in Westfield, cannot expand its service territory without the state agency’s permission. Charges of anti-competitive behavior led to the decision.
So many middle school students want to work at Ron Brumbarger’s Web development company that he’s starting a way for them to try out before they hit high school.
Changes unleashed by health reform are pushing Franciscan St. Francis Health’s expansion into Hamilton County—in addition to the obvious pull of the area’s well-heeled population.
The loan from Fair Finance Co. to Stephen and Linda Plopper matured in 2006, but the couple has failed to satisfy the debt despite recent demands for payment, the suit alleges.
-S&B Construction Group is the contractor for the interior renovation of a 7,700-square-foot Advance Auto Parts store at 1663 Rangeline Road, Carmel.
-S&B construction Group has been awarded the interior demolition of the former Alcatraz Brewing Company restaurant at Circle Centre mall. Alcatraz is being replaced with a California Pizza Kitchen.
The lead developer on a long-delayed proposal to redevelop the former Bank One Operations Center has landed a powerhouse partner: apartment developer Gene B. Glick Co.
Franciscan St. Francis Health plans to open a short-stay medical center in Carmel, creating 76 jobs by 2015, the health system announced Monday morning.
