Bankruptcy

Struggling contractors hope for sale of factoryRestricted Content

March 9, 2009
Kathleen McLaughlin
Contractors struggling under the weight of an unfinished factory in Tipton are hoping for a quick sale to recover at least some of the $44 million they say they're owed by Getrag Transmission Manufacturing.
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HHGregg vying to win customers of Circuit CityRestricted Content

February 9, 2009
Scott Olson
Company officials think HHGregg is well-positioned to fill the void that Circuit City Stores Inc. will leave when its stores are closed.
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BankruptciesRestricted Content

January 19, 2009
Majestic Plaza LLC and W.H. Construction Inc.
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High-flying Premier Properties crashes

December 29, 2008
Cory Schouten
The founder of local real estate firm Premier Properties USA Inc. saw his company falter this year and faced three felony charges in connection with its downfall.
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Twice-bankrupt ATA finally foldsRestricted Content

December 29, 2008
Chris O'Malley
Any hopes that hometown airline ATA would make a comeback and eventually resume scheduled service from Indianapolis were dashed April 2, when it filed for bankruptcy and ceased operations.
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Indiana bankruptcies soarRestricted Content

December 1, 2008
Peter Schnitzler
Indiana bankruptcies are rising toward levels not seen since Congress tightened filing rules three years ago, and experts say stretched consumers and businesses probably won't reap benefits of an improved economy for at least a year.
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Southwest swoops in to benefit from ATA Airlines' bankruptcyRestricted Content

December 1, 2008
Chris O'Malley
Southwest is striking a deal to acquire ATA's valuable landing slots at LaGuardia and most of the dying airlines' remaining assets for $7.5 million.
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NFP of NOTE: Momentive Consumer Credit Counseling Services

December 1, 2008
Momentive Consumer Credit Counseling Services work to change lives by helping people gain financial stability.
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Winona lacks evidence to prove fraudulent money transferRestricted Content

November 3, 2008
The trustee for Winona Memorial Hospital lost in court against the hospital's former owner earlier this month — but not without receiving a bit of vindication from the judge in the case.
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Filing in legal battle over telecom company hints at criminal probe of officersRestricted Content

September 29, 2008
Chris O\'malley

Former insiders of One Call Communications appear to be targets of a Justice Department criminal inquiry, according to a filing by the defunct company's court-appointed receiver. Pittsburgh-based Meridian Group said it was served a subpoena Sept. 19 from the U.S. Attorney for the Western District of Pennsylvania to testify before a grand jury on Oct. 21 on matters involving One Call.

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Recession squeezes local logistics industryRestricted Content

July 21, 2008
Peter Schnitzler
State economic development leaders remain bullish on Indiana's future as a logistics hub even as two local players have been forced into bankruptcy and others struggle with high fuel prices.
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Three failed businesses sink former Carson foe DickersonRestricted Content

June 16, 2008
Cory Schouten
Former car dealer and congressional candidate Eric Dickerson has filed for personal bankruptcy after three failed businesses left him saddled with more than $1 million in debt. Dickerson says he is virtually broke save for a $101,000 inheritance he is set to receive from the estate of his late mother.
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Bankrupt ATA may sue ex-partner FedExRestricted Content

June 9, 2008
Greg Andrews
ATA Airlines Inc. largely blames FedEx Corp. for knocking it out of business this spring. Now, the bankrupt airline is preparing to fight back by suing the Memphis cargo giant, charging it wrongfully canceled a military-charter contract that generated hundreds of millions of dollars in revenue for ATA.
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ATA plan ticks off terminated pilots, attendantsRestricted Content

April 14, 2008
Chris O'Malley
Former ATA Airlines employees are trying to comb the wreckage of the bankrupt carrier, looking to grab their financial belongings before managers and lenders cart off what little is left. Pilots and flight attendants are opposing retention bonuses for managers who will spend the next several months turning out the lights of the 35-year-old carrier.
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Premier Properties lays off workers as lawsuits, debt pile upRestricted Content

April 7, 2008
Cory Schouten
Premier Properties USA Inc. has eliminated about half its headquarters staff--more than 40 employees--as banks seize several of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans, illegally redirected rent payments and check fraud.
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Winona trustee still fighting hospital creditors, ex-ownerRestricted Content

February 11, 2008
J.K. Wall
Paul Gresk, the bankruptcy trustee overseeing the liquidation of Winona Memorial Hospital, is pushing for a showdown in court to prove his claims that Winona's former owner, Leland Medical Centers Inc., illegally transferred more than $4 million out of Winona.
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Real estate exec with lavish lifestyle accused of $160M fraudRestricted Content

January 14, 2008
Chris O'Malley
A high-flying Carmel businessman who moved his base of operations to Miami a couple of years ago is accused of burning through $160 million of investors' money in the collapse of his real estate empire.
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Symons puts biz into Ch. 11, undercutting rival's court winRestricted Content

September 10, 2007
J.K. Wall
Alan G. Symons' company, Fast Tek Group LLC, lost a court fight with Fishers-based competitor Product Action International LLC in February. So Symons pushed Fast Tek into Chapter 11 bankruptcy protection in June--a move that clears the way for a suitor to buy the assets without being saddled with the liabilities.
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Post-bankruptcy turnaround not taking off for ATARestricted Content

September 10, 2007
Chris O'Malley
More than 18 months after flying out of a bankruptcy reorganization that unloaded $1 billion of debt and costly aircraft leases, the parent of ATA Airlines still finds landing a profit elusive. Indianapolis-based Global Aero Logistics posted a loss of $46.1 million in the first half of 2007, according to documents it filed with the Securities and Exchange Commission.
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Once-hot cooler company's new owners trying to rejuvenate businessRestricted Content

March 26, 2007
Anthony Schoettle
After almost 60 profitable years that saw Elliott-Williams Co. install walk-in refrigerators and freezers in almost every Indiana school, hospital and hotel, the venerable firm was brought to its knees last year. But an unlikely savior, a new locally based venture capital firm, bought EW out of bankruptcy for $507,000, about the cost of 10 EW walk-ins.
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Winona Hospital litigation fizzlesRestricted Content

January 1, 2007
Tom Murphy
A court-appointed trustee in charge of Winona Memorial Hospital's bankruptcy says he believes former owners fleeced it for more than $4 million. But he has little to show from his two-year quest to recover money for creditors and now is winding down the case.
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$1.7M invested in failed firm not authorized, sources sayRestricted Content

September 25, 2006
Chris O'Malley
Trade groups that host the Indianapolis Auto Show and represent 600 car dealers in the Legislature stand to lose $1.7 million they loaned to a local debt-collection agency--loans that sources said were made without the knowledge of the groups' boards or membership.
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  1. I never thought I'd see the day when a Republican Mayor would lead the charge in attempting to raise every tax we have to pay. Now it's income taxes and property taxes that Ballard wants to increase. And to pay for a pre-K program? Many studies have shown that pre-K offer no long-term educational benefits whatsoever. And Ballard is pitching it as a way of fighting crime? Who is he kidding? It's about government provided day care. It's a shame that we elected a Republican who has turned out to be a huge big spending, big taxing, big borrowing liberal Democrat.

  2. Why do we blame the unions? They did not create the 11 different school districts that are the root of the problem.

  3. I was just watching an AOW race from cleveland in 1997...in addition to the 65K for the race, there were more people in boats watching that race from the lake than were IndyCar fans watching the 2014 IndyCar season finale in the Fontana grandstands. Just sayin...That's some resurgence modern IndyCar has going. Almost profitable, nobody in the grandstands and TV ratings dropping 61% at some tracks in the series. Business model..."CRAZY" as said by a NASCAR track general manager. Yup, this thing is purring like a cat! Sponsors...send them your cash, pronto!!! LOL, not a chance.

  4. I'm sure Indiana is paradise for the wealthy and affluent, but what about the rest of us? Over the last 40 years, conservatives and the business elite have run this country (and state)into the ground. The pendulum will swing back as more moderate voters get tired of Reaganomics and regressive social policies. Add to that the wave of minority voters coming up in the next 10 to 15 years and things will get better. unfortunately we have to suffer through 10 more years of gerrymandered districts and dispropionate representation.

  5. Funny thing....rich people telling poor people how bad the other rich people are wanting to cut benefits/school etc and that they should vote for those rich people that just did it. Just saying..............

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