Bloomington

Electrolux to buy GE Appliances in $3.3B deal

September 8, 2014
 Associated Press and IBJ Staff
The acquisition is the largest ever for Stockholm-based Electrolux, ranked as the world's second biggest home appliance maker after U.S. rival Whirlpool. Louisville-based GE Appliances has a long history in Indiana.
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Nuvo enters Bloomington market, eyes other college towns

September 6, 2014
Anthony Schoettle
Nuvo has entered a long-abandoned market, Bloomington, and is eyeing other Indiana college towns, particularly Muncie and West Lafayette, for expansion. The alternative free weekly newspaper has been working on the plan for six months.
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Struggling hospital finds buyer, enters bankruptcy protection

August 12, 2014
 Bloomberg News and IBJ Staff
Bloomington’s Monroe Hospital, which has had a close relationship with Indianapolis-based St. Vincent Health, filed for bankruptcy reorganization on Friday and plans to sell its business to a Canadian operator.
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Plea deal rejected for ex-Indiana county auditor

August 5, 2014
Associated Press
Lawyers are reworking an agreement under which a former county auditor in Indiana was expected to plead guilty to criminal charges of wrongly paying personal expenses with county-issued credit cards.
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Indiana Limestone Co. digs out of deep hole

July 26, 2014
Anthony Schoettle
In February, Indiana Limestone Co. filed for bankruptcy. But two months later, Chicago-based Wynnchurch Capital Ltd. bought the quarry company out of bankruptcy. ILC is now digging out and looking at a brighter horizon.
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IU advancing demolition plan opposed by city

June 18, 2014
Associated Press
Indiana University's Board of Trustees is expected to vote this week on a plan to move or tear down six houses in a Bloomington neighborhood that city officials have been trying to protect.
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Bloomington puts new rules on chain businesses

June 12, 2014
Associated Press
The City Council voted Wednesday night to require what it calls standardized businesses seeking to open a downtown storefront to obtain a special zoning permit.
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Mainstreet aims to help finance nursing home through crowdfundingRestricted Content

April 19, 2014
J.K. Wall
Mainstreet Property Group LLC plans to launch a new round of private placement fundraising on April 21 using a website run by Oregon-based CrowdStreet Inc. and a mix of traditional advertising in central Indiana.
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Lender bids $26 million to take over Indiana Limestone Co.

April 15, 2014
 Associated Press and IBJ Staff
An investment firm was the only bidder for an Indiana company that supplied limestone to the Empire State Building, the Pentagon and other iconic buildings.
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Body shops sue insurers, allege push to drive down pricesRestricted Content

April 12, 2014
Chris O'Malley
In a federal lawsuit, 14 Indiana auto-body shops accuse State Farm and competitors of extracting “unreasonable and onerous” concessions on vehicle repair costs.
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Bloomington brewer taps Indy ad firm, French designer to recast beer labels

April 12, 2014
Chris O'Malley
Upland recently hired Indianapolis ad agency Young & Laramore to help streamline and unify its varied packaging themes.
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New parking meters bring in $1M for Bloomington

March 30, 2014
Associated Press
The meters were approved a year ago amid protests from business owners who feared their long hours would deter customers and hurt their revenue.
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Bloomington council backs Habitat neighborhood

March 27, 2014
Associated Press
The Bloomington City Council is giving permission to a Habitat for Humanity group to develop a neighborhood with 35 homes.
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Indiana Limestone wins court approval for auction

March 17, 2014
 Bloomberg News and IBJ Staff
The owner of Indiana Limestone Co. has received court approval to hold an April sale to see whether there are any better offers for virtually all its assets than the $26 million bid by lender Indiana Commercial Finance LLC.
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Former Bloomington official charged in scheme

March 12, 2014
Associated Press
The U.S. attorney's office in Indianapolis said Wednesday that 43-year-old Justin Wykoff faces 24 counts of embezzlement for allegedly approving fraudulent invoices, often for concrete work that was never done.
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Council hopes historic value nixes IU land swap

March 2, 2014
Associated Press
Bloomington leaders would like a proposed new historic designation to persuade Indiana University to think twice about a land-swap plan that could include razing six houses to make way for a new fraternity building.
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Bloomington limestone firm to close, lay off 166

February 25, 2014
 IBJ Staff
An 88-year-old Indiana company that supplied limestone to many of the country's most important buildings is going out of business.
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IU plans statue of WWII journalist Ernie Pyle

February 14, 2014
Associated Press
Pyle's bronze likeness outside of Franklin Hall will be just the third statue on IU's Bloomington campus.
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Stretch of I-69 extension set to start next year

December 30, 2013
Associated Press
The state plans to select a contractor in March for the 21-mile section between Bloomington and Martinsville.
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Bloomington defends tough smoke-detector ordinance

December 26, 2013
Associated Press
Property owners sued in July to block the law, which requires landlords to install hard-wired smoke detectors by 2019.
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Monroe County looks to limit I-69 truck stops

September 30, 2013
Associated Press
Officials in southern Indiana's Monroe County are proposing tough rules for any truck stops that might be built with the opening of the Interstate 69 extension.
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Two Monroe County employers lay off 205 workers

September 9, 2013
Associated Press
GE Appliances said Monday it will eliminate 160 jobs from its Bloomington plant because demand for its side-by-side refrigerators has fallen by more than 30 percent since 2010. Meanwhile, Ellettsville telecommunications company Smithville is cutting 45 full-time employees
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Apartment business good in IU's hometown

May 28, 2013
Associated Press
Bloomington's average apartment rent was $892 last year, up nearly $60 in two years.
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Bloomington manufacturer closing, laying off 72

May 15, 2013
 IBJ Staff
Hartmann USA said Wednesday that it will move the Bloomington operations to its U.S. headquarters in Rock Hill, S.C., where it plans an $18 million expansion.
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Bloomington council OKs revised parking meter plan

March 22, 2013
Associated Press
The Bloomington City Council voted 6-3 in favor of the downtown parking plan, which was revised following opposition from local business owners.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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