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IndyStar.com: Business

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'09ers driving latest rush to gold

Analysts are surprised by speed and stamina of spike CHICAGO — The new gold rush is on. The price of the precious metal is soaring, hitting a record $1,119 an ounce Wednesday before settling to $1,114. The spike is confounding market analysts...

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

Helping athletes get to next level

When athletes such as Colts tight end Dallas Clark or world champion and Olympic gymnast Bridget Sloan are looking to step up their game, they turn to St. Vincent Sports Performance in Indianapolis. In its two Indianapolis centers, St. Vincent Sports...

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

Dow extends winning streak to 6 days

Investors are buoyed by low interest rates, Chinese industrial output NEW YORK — More signs that interest rates will remain low and upbeat economic news from China gave investors more reason to keep buying stocks Wednesday. Federal Reserve...

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

Cummins to raise price Jan. 1 for commercial generators

Columbus, Ind. — Cummins Power Generation Inc. said it will raise the price of its commercial power generator sets, which are used in factories and office buildings, starting Jan. 1. The Cummins Inc. unit cited industry dynamics, climbing...

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

Macy's posts smaller loss, credits two new initiatives

Cincinnati — Macy’s Inc. on Wednesday reported a smaller loss in its third quarter from a year ago because of tight inventory controls and a move to localize merchandise to regional markets. The department store operator lost $35 million,...

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

Lilly to pay $24M settlement to Utah over Zyprexa claims

Salt Lake City — Eli Lilly and Co. has agreed to a $24 million civil settlement with the state of Utah over claims the drug maker engaged in off-label marketing of the anti-psychotic drug Zyprexa. Utah Attorney General Mark Shurtleff’s...

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

Indy worker dies in industrial accident

A 53-year-old Indianapolis man was killed in an industrial accident at a Southside repair shop this afternoon. David Jansen either fell into or was inadvertently crushed by a moving part of a 12-foot-tall piece of equipment at Horner Industrial...

John Tuohy, on Nov 11, 2009 at 7:05 PM in Business
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Utah awarded $24M in Zyprexa settlement

SALT LAKE CITY — Utah has agreed to a $24 million settlement with Eli Lilly&Co. over claims the drugmaker engaged in off-label marketing of the anti-psychotic drug Zyprexa, Utah Attorney General Mark Shurtleff said today. Zyprexa is approved for...

indystar, on Nov 11, 2009 at 3:28 PM in Business

Indiana State Bar Association picks 1st black leader

For the first time, an African-American lawyer will head the Indiana State Bar Association. Roderick Morgan, a partner with Bingham McHale in Indianapolis, was named president for the 2009-10 term, the organization said today. The bar association...

Tom Spalding, on Nov 11, 2009 at 10:30 AM in Business
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Cummins to raise some prices in 2010

Cummins Power Generation Inc. said it will raise the price of its commercial power generator sets, which are used in factories and office buildings, starting Jan. 1, while freezing the prices of other products. The unit of Columbus-based Cummins Inc....

indystar, on Nov 11, 2009 at 8:38 AM in Business
Tom Spalding

Old National execs to ring closing bell at NYSE

Old National Bancorp will celebrate its 175th Anniversary today as executives get to ring the closing bell at the New York Stock Exchange. President and CEO Bob Jones, Old National Bancorp Chairman Larry Dunigan, and the remaining nine board...

Tom Spalding, on Nov 11, 2009 at 7:26 AM in Business
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Purdue University Airport aims for passenger service, again

Purdue University is once again trying to lure a commercial airline carrier to its airport. The university is teaming up with city and county governments and Greater Lafayette Commerce to fund a $27,500 study to gauge the community need for passenger...

indystar, on Nov 11, 2009 at 7:15 AM in Business
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Chamber of Commerce hands out awards

More than 1,000 business, civic and political leaders attended the Indiana Chamber of Commerce’s 20th Annual Awards Dinner on Tuesday night. Among the winners were John Swisher for Business Leader of the Year. The chairman and CEO of JBS United...

indystar, on Nov 10, 2009 at 7:59 PM in Business
John Tuohy

Area auto dealer's death was a suicide, police say

A prominent Indianapolis-area auto dealer took his own life early Tuesday after indicating he was wrestling with financial problems, police said. Investigators ruled the death of Richard Burd a suicide by asphyxiation, said Lawrence police Detective...

John Tuohy, on Nov 11, 2009 at 12:41 AM in Business

New airport terminal marks first anniversary

3.7M passengers expected to use facility in ’09 The Col. H. Weir Cook Terminal Building at Indianapolis International Airport, the newest icon for the city, turns a year old today. The $1.06 billion development, the largest civic project in...

Bruce Smith, on Nov 11, 2009 at 12:40 AM in Business
Tom Spalding

Indianapolis won't get 800 Republic Airways jobs

Republic will move up to 800 full-time positions to Milwaukee Indianapolis, the headquarters city of Republic Airways, will miss out on 800 jobs the company is shifting from Colorado and New Mexico to Milwaukee. But Indiana economic development...

Tom Spalding, on Nov 11, 2009 at 12:00 AM in Business
Jeff Swiatek

Indianapolis man gets 37 months in mortgage fraud case

A 45-year-old Indianapolis man may spend three years behind bars for helping to spin a web of mortgage fraud that entangled hundreds of Indianapolis houses. Timothy A. Brown was sentenced Monday to 37 months in federal prison by U.S. District Court...

Jeff Swiatek, on Nov 11, 2009 at 12:00 AM in Business
indystar

New study to gauge support for air carrier at Purdue airport

West Lafayette — Purdue University is once again trying to lure a commercial airline carrier to its airport. The university, in conjunction with Greater Lafayette Commerce, announced plans Tuesday to fund a $27,500 survey and study to gauge...

indystar, on Nov 11, 2009 at 12:00 AM in Business
indystar

Frozen-food company plans to expand New Albany plant

New Albany — A food production center is expanding in New Albany and expects to create more than 350 jobs by 2012. Kemper Foods International, a privately held manufacturer of frozen foods for restaurants and brand-name retailers, will invest...

indystar, on Nov 11, 2009 at 12:00 AM in Business
indystar

Duke Realty's executive will leave post by year's end

Carmel — Hamilton County-based Duke Realty Corp. announced Tuesday its chief operating officer is resigning. Robert Chapman will leave by year’s end, an announcement said. Dennis Oklak, chairman and chief executive officer, said in the...

indystar, on Nov 11, 2009 at 12:00 AM in Business
indystar

On the Move

On the Move Name: Pete Rimsans. New post: Executive director of the Indiana State Building and Construction Trades Council. Previous position: Associate director of the council. Experience: He previously was deputy commissioner of the Indiana...

indystar, on Nov 11, 2009 at 12:00 AM in Business
indystar

Biotech company will place its headquarters Downtown

Indianapolis — A biotech company that specializes in developing new treatments for diseases has established its headquarters in Downtown Indianapolis. Aarden Pharmaceuticals will be at 351 W. 10th St., near the Downtown canal. The company will...

indystar, on Nov 11, 2009 at 12:00 AM in Business
indystar

Chamber of Commerce awards honor area leaders

Indianapolis — The Indiana Chamber of Commerce honored business and civic leaders at its 20th annual awards dinner Tuesday night. Among the winners were John Swisher, chairman and CEO of JBS United, who was named Business Leader of the Year....

indystar, on Nov 11, 2009 at 12:00 AM in Business
Tom Spalding

Role in Indianapolis mortgage fraud case gets 3 years

A 45-year-old Indianapolis man will spend three years behind bars for his role in in a massive mortgage fraud scheme involving hundreds of Indianapolis houses. Timothy A. Brown was sentenced Monday to 37 months in federal prison by U.S. District...

Tom Spalding, on Nov 10, 2009 at 2:45 PM in Business

High-flying Indianapolis Colts to get airplane to match

The Indianapolis Colts have a high-flying offense — and as of today they have a plane to match. This morning, the Florida-based AirTran unveiled a custom-painted aircraft called “Colts 1” to celebrate its sponsorship of the NFL...

Tom Spalding, on Nov 10, 2009 at 1:40 PM in Business
Tom Spalding

Republic Airways Holdings will steer jobs to Milwaukee, not Indianapolis

The Milwaukee area — not Indianapolis — has landed hundreds of jobs as part of Republic Airways Holdings’ realignment following its takeovers of Midwest Airlines and Frontier Airlines. The Journal Sentinel Web site today reported...

Tom Spalding, on Nov 10, 2009 at 1:25 PM in Business

Home sales in the state are likely to get boost

Share of price offset by tax credit is bigger in Indiana than elsewhere A federal tax credit for first-time homebuyers extended by Congress last week and approved by President Barack Obama could increase home sales in Indiana. The tax credit, $8,000...

Jeff Swiatek, on Nov 10, 2009 at 1:11 PM in Business
Tom Spalding

3Q losses widen for Ener1, Indianapolis battery maker parent

Losses for Ener1 Inc ., the parent of Indianapolis-based rechargeable-battery maker EnerDel, widened during the third quarter. The New York-based company said increased expenses related to research and development offset its higher sales. Ener1 lost...

Tom Spalding, on Nov 10, 2009 at 12:47 PM in Business
indystar

Duke Realty chief operating officer resigns

CARMEL — Hamilton County-based Duke Realty Corp. announced today its chief operating officer is resigning. Robert Chapman will leave by year’s end, an announcement said. The statement said Duke considered the current economy, including an...

indystar, on Nov 10, 2009 at 8:38 AM in Business
indystar

3Q revenues dip for Carmel auto auctioneer

CARMEL — KAR Auction Services, the newly renamed Carmel-based holding company that specializes in vehicle and salvage auction services in the nation, said today that revenue slipped 3 percent in the third quarter. The parent of Adesa, which...

indystar, on Nov 10, 2009 at 7:38 AM in Business

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