 |
 |
 | | | |
 DJIA 12,641.9 -4.3 / S&P 500 1,399.3 +1.0 / NASDAQ 2,519.4 +11.1
 |  |  Tonight: Storms likely. Low 65. Tomorrow: Warm, small chance of rain. High 80. Sunday: Clear. High 79.
| |
|  Friday, May 30, 2008 |
|
Linebarger to replace Loughrey at Cummins
Diesel engine maker Cummins Inc. today said Tom Linebarger will become its president and chief operating officer when Joe Loughrey vacates the positions. Loughrey, 58, who is retiring in March 2009, will serve as the company's vice chairman from Aug. 1 until his retirement. Linebarger, 45, currently is president of Cummins Power Generation and has been an executive vice president since 2005. He also has served as Cummins' chief financial officer.
Shoe Carnival upgraded despite profit setback
A Soleil Securities analyst upgraded the stock of Evansville-based Shoe Carnival Inc. today despite a lackluster earnings report from the company yesterday. Jeffrey Stein, who declined to discuss his reasoning, moved the retailer to "Hold" from "Sell." Shoe Carnival said net profit in its fiscal first quarter ended May 3 plummeted nearly 35 percent, to $4.8 million, from the same period last year. 
|  | | | |
|  |
Conseco rejects investors' overture
Conseco Inc. rejected a proposal by activist investor Steel Partners II LP to acquire up to 22 percent of the company's shares, according to a letter from Conseco CEO Jim Prieur. Prieur told New York-based Steel Partners that allowing it to amass such a large stake would limit Conseco's ability to repurchase its own shares. He said it also could limit the ability of other large shareholders to buy Conseco shares.
Maker of personal care products to expand
Canada-based KIK Custom Products plans to spend $7 million to expand its operations in Elkhart and create 190 jobs, the Indiana Economic Development Corp. said yesterday. KIK makes personal care and household products for companies including Gillette, Johnson & Johnson and L'Oreal. The company, which already employs 700 in Elkhart, will begin hiring mechanics, forklift drivers and packers, among other positions, over the next two months. Production is expected to ramp up in late summer.
United, US Airways CEOs say no deal for now
The CEOs of United Airlines and US Airways formally shelved their effort to create the world's largest airline, telling employees today that a combination won't happen "at this time." Their separate messages came a day after a meeting of United's Glenn Tilton and US Airways' Doug Parker at which United disclosed its decision not to pursue consolidation. Chicago-based United, a unit of UAL Corp., and Tempe, Ariz.-based US Airways Group Inc. have been exploring a combination for more than two months - an effort that intensified in April after Delta Air Lines Inc. and Northwest Airlines Corp. agreed to pair up.
Freight rail congestion a growing concern
While the nation's attention is focused on air travel congestion and the high cost of fuel for highway driving, a crisis is developing under the radar for another form of transportation - the freight trains used to deliver many of the goods that keep the U.S. economy humming. The nation's 140,000-mile network of rails devoted to carrying everything from cars to grain is groaning under the strain of congestion, with trains forced to stand aside for hours because of one-track rail lines. And it's probably going to get worse over the next two decades.
Bigger names at Indiana casinos
High-quality acts are turning up regularly at Hoosier casinos. Lou Harry's A&E Local restaurants land at airport
Four top-name spots will be in the new airport terminal. Property Lines
| | | |
|
Star sports staff loses third veteran this year
Assistant editor Pat McKee is leaving for Florida. The Score
From IBJ staff - Compiled by Norm Heikens
String of fires under investigation
Arson investigators are looking into four early morning fires within a few blocks of each other. The fires began when a car fire destroyed a garage near 10th Street and Chester Avenue. Firefighters responded to three more fires in the same area with a half hour, including two that destroyed garages next to each other. Witnesses say a gold Chevy Monte Carlo sped away from the Chester Avenue blaze. Fox 59 will have more at 10 p.m.
|  | | | |
| Funeral planned for Eaton firefighter
A volunteer firefighter from Eaton, a community north of Muncie, will be laid to rest today after dying from a heart attack over the weekend. Jay Maddy had responded to a string of 21 local arsons before the heart attack happened. Officials ruled his death as occurring "in the line of duty." Police have arrested two Eaton teen-agers in connection with the fires. The funeral procession will stop by the firehouse for a "last alarm."
Baby's heart is repaired
A baby boy from Jordan is having his heart repaired at Riley Hospital for Children today. Six-month-old Ahmed Okar was born with a complex heart defect in which one of the heart valves is missing and the pulmonary arteries are enlarged to the point that they compress the airway and esophagus. The Riley Heart team met the Syrian native during their latest medical mission to Amman, Jordan. The Rotary Club's Gift of Life program and Riley Hospital are making the surgery possible.
| | | |
|
| |  | | | | | | Visit IBJ's Web site, www.ibj.com | | | | | | Indianapolis Business Journal has launched a redesigned Web site with news updated throughout the business day. | | | | | At www.ibj.com you will find the latest business news from the Indianapolis area and around the state, video of IBJ events, CEO interviews from the Inside IBJ radio program, and our weekly podcast. | |
| | | |
| | |
| | |
No comments:
Post a Comment