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Brown County sock maker moving to Martinsville

Associated Press
October 21, 2011
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A sock manufacturer that had its factory destroyed in a fire last month will be moving to a former auto parts plant in a nearby central Indiana city.

Martinsville Mayor Phil Deckard announced Thursday that Bare Feet Originals would lease the factory that has been empty since Harman-Becker Automotive shut it down in 2008. The Reporter-Times of Morgan County reported that a Sept. 10 fire at the company's rural Brown County plant destroyed 100 knitting machines.

Company CEO Sharon Rivenbark said it sought a site with water service for a sprinkler system and better roads for delivery trucks.

Bare Feet Originals started with one loom more than 20 years ago. It had 150 workers at its Helmsburg plant, making socks and wrist bands with novelty designs and sports and school logos.

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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