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IndyStar.com: Business

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Indiana jobless rate rises to 9.8 percent

Indiana’s preliminary seasonally-adjusted unemployment rate showed little change in October, the Indiana Department of Workforce Development reported today. Indiana’s preliminary rate of 9.8 percent marked an increase of 0.1 of a...

indystar, on Nov 20, 2009 at 10:06 AM in Business
Jeff Swiatek

No. 2 mall company may not sell its holdings

Bankrupt mall developer General Growth Properties said Thursday it has restructured a large chunk of its mortgage debt and hopes to start exiting bankruptcy court by the end of the year. The Chicago company’s surprise announcement suggests its...

Jeff Swiatek, on Nov 20, 2009 at 12:21 AM in Business
Bruce Smith

New locomotives are green machines

New locomotives for CSX rail yard in Avon feature technology that’s clean, quiet The two newest movers and shakers in fast-growing Avon weigh in at more than 13 tons each. And they’re green. Railroad company CSX Transportation unveiled...

Bruce Smith, on Nov 20, 2009 at 12:00 AM in Business
John Russell

Retiring Lilly research exec Steven Paul gets $2 million in severance

The top research executive at Eli Lilly and Co. will receive a $2 million cash severance payment and be credited with extra years of service when he retires in February — a move some compensation experts are calling unusual. Dr. Steven Paul,...

John Russell, on Nov 20, 2009 at 12:00 AM in Business
indystar

Foreclosure crisis is spreading

Report: Borrowers with good credit are defaulting, too, after job losses WASHINGTON — The foreclosure crisis likely will persist well into next year as high unemployment pushes more people out of homes, pulls down housing prices and raises...

indystar, on Nov 20, 2009 at 12:00 AM in Business
indystar

Conseco is planning to sell up to $230 million in stock

Indianapolis — Carmel-based insurer Conseco says in a new filing with the Securities and Exchange Commission that it may sell up to $230 million of stock. Conseco plans to use 50 percent of the net proceeds to repay indebtedness under its...

indystar, on Nov 20, 2009 at 12:00 AM in Business
indystar

Fishers Chamber president expects to leave this month

Fishers — Christi Wolf announced Thursday she will step down as president/chief executive of the Fishers Chamber of Commerce. Wolf has had the job for 13 years. In a phone interview, she said she expects to leave this month. In a news release,...

indystar, on Nov 20, 2009 at 12:00 AM in Business
indystar

Emmis expects to go to court to get Hungarian license back

Indianapolis Emmis Communications’ national radio station in Hungary, Slger, has been taken off the air, and executives at the Indianapolis-based company plan to go to court to get back its license. Emmis said it was in the process of trying to...

indystar, on Nov 20, 2009 at 12:00 AM in Business
indystar

Indiana awarded $4M to help with 'green' training

Indiana has been awarded a $4 million chunk of what the U.S. Labor Department today said was a total of $55 million in “green jobs” grants. The grants were designed to support job-training and labor-market information programs to help...

indystar, on Nov 18, 2009 at 3:04 PM in Business
Tom Spalding

Indiana partners with Japanese trading firm

ITOCHU Corp., a Japanese trading firm already partnering with Indianapolis-based electric vehicle battery maker EnerDel, may be developing a more significant presence in the state. More coverage: The official press release from the Indiana Economic...

Tom Spalding, on Nov 19, 2009 at 12:22 PM in Business

Top Eli Lilly researcher Paul's payout: $2M

As struggling Indianapolis drugmaker Eli Lilly and Co. slashes thousands of jobs and trims benefits for employees, one top executive is getting a handsome retirement payout. The company disclosed today that Dr. Steven Paul, who will retire in...

John Russell, on Nov 19, 2009 at 11:00 AM in Business
Tom Spalding

Indianapolis' Emmis Communications' station taken off air in Hungary

Emmis Communications’ national radio station in Hungary, known as Slger, has been taken off the air, and executives at the Indianapolis-based company plan to go to court to get back its license. Emmis said late Wednesday it was in the process of...

Tom Spalding, on Nov 19, 2009 at 8:51 AM in Business

Study to decide if caged chickens are happy

DES MOINES, Iowa — Are cramped chickens crazy chickens? Researchers are trying to answer that question through several studies that intend to take emotions out of an angry debate between animal welfare groups and producers. At issue are small...

indystar, on Nov 19, 2009 at 8:44 AM in Business
Tom Spalding

Profits rise 188% for Indiana company Shoe Carnival

Consumer interest in wellness footwear and boots helped propel southwestern Indiana retailer-based Shoe Carnival to one of the best quarters in its history. The value-priced footwear and accessories seller said third-quarter net earnings increased...

Tom Spalding, on Nov 19, 2009 at 8:10 AM in Business
indystar

$4M grant to aid Indiana autoworkers

Indiana has won a $4 million federal grant to lead an effort with Michigan and Ohio to help laid-off autoworkers find jobs in the renewable-energy industry and related occupations. The U.S. Department of Labor awarded the grant Wednesday to the...

indystar, on Nov 19, 2009 at 8:07 AM in Business
indystar

Conseco may sell $230 million of stock

Carmel-based insurer Conseco says in a new filing to the Securities and Exchange Commission that it may sell up to $230 million of stock. Marketwatch reports today that Conseco plans to use 50 percent of the net proceeds to repay indebtedness under...

indystar, on Nov 19, 2009 at 7:43 AM in Business
Tom Spalding

Metropolis developer gets year of home detention in check kiting case

Judge orders monitored detention, wants man to repay $382,486 to bank Incorrect information was removed from this story on Nov.19, 2009. A man who once had a net worth of $150 million will report today to a corrections facility to be fitted with an...

Tom Spalding, on Nov 19, 2009 at 7:38 AM in Business
indystar

Sears posts 2nd consecutive quarterly loss

Sears Holdings Corp. said today it lost money for the second consecutive quarter as customers spent elsewhere even as the retailer offered a series of early holiday season promotions to bring them back to its brands. The company led by hedge fund...

indystar, on Nov 19, 2009 at 7:04 AM in Business
Tom Spalding

Medical gear installer expands in Allen Co.

Maxim Medical Services Inc., a medical equipment installation and repair firm in Allen County, will expand its operations, meaning 51 new Indiana jobs for the company by 2012. The company installs, services and resells surgical lighting and imaging...

Tom Spalding, on Nov 19, 2009 at 6:57 AM in Business
Jeff Swiatek

Simon positions itself to expand

Nation’s largest mall developer may be preparing to acquire biggest competitor Simon Property Group may be laying the groundwork for the biggest acquisition of its 49-year history in a deal that could allow the Indianapolis shopping mall...

Jeff Swiatek, on Nov 19, 2009 at 1:23 AM in Business

Indiana on short list for electric car plant

Electric car maker hopes to have vehicle on the streets by next fall Norwegian carmaker Think is racing to secure a plant site in Indiana, Michigan or Oregon, get a U.S. grant, build a factory and put a two-seat electric car on American streets...

Ted Evanoff, on Nov 19, 2009 at 12:00 AM in Business
Daniel Lee

Tuning into social media

Account exec says online pursuits can bring payoff Elizabeth Friedland, account executive with Indianapolis ad and PR firm TrendyMinds, is into social media: She Tweets, blogs and Facebooks (Is that a verb?). Friedland took time from her online...

Daniel Lee, on Nov 19, 2009 at 12:00 AM in Business
indystar

Keystone Towers complex fails to sell in auction

Indianapolis — An online auction for the nonperforming loan on the vacant Keystone Towers complex failed to bring a bid acceptable to the seller when it ended Wednesday. Bidders seemed reluctant to raise their bids above the minimum of $600,000...

indystar, on Nov 19, 2009 at 12:00 AM in Business
indystar

Indiana and 2 neighbors will work on auto project

Indianapolis — Indiana, Ohio and Michigan will work together on a economic research project focusing on how to help U.S. autoworkers move into new careers and how to transform the struggling auto industry. The Indiana Department of Workforce...

indystar, on Nov 19, 2009 at 12:00 AM in Business
indystar

On the Move

On the Move Name: Mike Yost. New post: Executive director of marketing at Clarian Health. Previous position: President at Brand Action Consulting. Experience: Yost previously worked in sales and marketing at for Eli Lilly and as senior director and...

indystar, on Nov 19, 2009 at 12:00 AM in Business
Tom Spalding

No jail time for Metropolis developer Christopher P. White, founder of Premier Properties USA

The owner of a defunct Indianapolis real estate development company, convicted by a jury in August of kiting a $500,000 check to meet payroll, will not go to jail but will pay a hefty fee, a judge ruled today. Christopher P. White, 52, the founder of...

Tom Spalding, on Nov 18, 2009 at 5:48 PM in Business
indystar

Rival: Sex drug acts faster than Viagra, Eli Lilly's Cialis

A drug being developed by a California company was shown in a trial to be effective in 30 minutes or less, much faster than its competitors, the maker of treatments for erectile dysfunctions claimed today. Reuters reports that Vivus Inc.’s...

indystar, on Nov 18, 2009 at 12:42 PM in Business

More stops fewer times set for Carmel, Fishers buses

Fishers and Carmel workers who use IndyGo’s commuter buses will soon see changes, including a few more stops in Downtown Indianapolis and an adjusted schedule, all in an effort to attract new users. Starting Dec. 1, additional stops for the...

Tom Spalding, on Nov 18, 2009 at 11:33 AM in Business
indystar

Report: Norway electric carmaker to build in Indiana

Norwegian electric car maker Think Global is gearing up to launch its vehicles in the United States and has picked a site in Indiana for its U.S. manufacturing facility, according to a major investor in the company. A roundup of Indianapolis-area...

indystar, on Nov 18, 2009 at 8:31 AM in Business
indystar

Ford, Subaru, VW win insurance industry picks

WASHINGTON — Ford, Subaru and Volkswagen sit atop the insurance industry’s annual list of the safest new vehicles, according to a closely watched assessment used by car companies to lure safety-conscious consumers to showrooms. The...

indystar, on Nov 18, 2009 at 7:48 AM in Business

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