Regional News

New Hulman & Co. CEO eyes changes to resurrect open-wheel racingRestricted Content

December 8, 2012
Anthony Schoettle
New Hulman and Co. CEO Mark Miles will focus in his new role on all of Hulman & Co.’s ventures—including real estate holdings and Clabber Girl. But his biggest challenge will be turning around the money-losing IndyCar Series and bolstering one of the region’s most famous landmarks—the Indianapolis Motor Speedway.
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Midwest Energy oil firm drilling for $15MRestricted Content

December 8, 2012
Chris O'Malley
An Indianapolis investment advisory oil firm has been looking for blowouts in its own back yard. Midwest Energy Partners is preparing for its seventh—and largest—round of funding to pay for oil drilling in southwestern Indiana and southeastern Illinois.
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Lawmakers may tighten grip on gold-buying businessRestricted Content

December 8, 2012
Kathleen McLaughlin
State lawmakers and Indianapolis officials are looking to regulate the gold-buying business, which police say provides an easy outlet for stolen goods. Cash-for-gold stores have multiplied as prices more than doubled since 2007.
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Funding cuts may pull plug on school broadcasting

December 7, 2012
Associated Press
In August, Greenfield city officials decided to drastically slash funds for Greenfield-Central High School's broadcasting program. The future of the programs remains in a state of limbo for the 2013-14 school year and beyond.
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Subaru still considering Indiana plant expansion

December 5, 2012
Bloomberg News
Fuji Heavy Industries Ltd.’s Subaru unit is studying whether to expand its Indiana auto-assembly plant as the Toyota Motor Corp. affiliate seeks to boost U.S. output to curb currency losses and meet growing demand for its models.
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Slinky maker hoping to purchase bankrupt Fundex

December 4, 2012
Scott Olson
Plainfield-based Fundex Games Ltd., which filed for bankruptcy protection in September, said Poof-Slinky Inc. is the only potential purchaser that has shown interest in acquiring the company's assets.
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Wabash Valley Power aggressively shifting to greener alternativesRestricted Content

December 1, 2012
Chris O'Malley
The Wabash Valley Power Association has been reducing its dependence on energy produced from coal—from 95 percent five years ago to 54 percent today. The utility is leaning more on natural gas and even renewable-energy sources like methane from landfills and animal waste.
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BrightPoint buyer Ingram Micro mulls cost-cuttingRestricted Content

December 1, 2012
Dan Human
A top BrightPoint Inc. executive expects little employment change for the distribution and logistics company’s 1,100-person central Indiana work force, despite the potential for job cuts and facility closings across the country.
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Data center N/Frame spending more on Carmel upgradeRestricted Content

December 1, 2012
Chris O'Malley
The company that hosts outsourced computer operations is dramatically boosting its investment in its local operation.
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Crews face deadline on central Indiana wind farm project

November 30, 2012
Associated Press
Construction crews are hustling to beat a Dec. 31 deadline to get 125 turbines in operation for a wind farm that is eventually planned to reach into four central Indiana counties.
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Residents fight plan to turn golf course into farm

November 27, 2012
Associated Press
Most of the 158 acres that made up the Yule Golf Club in Alexandria was sold in an October auction for nearly $1 million to Yorktown farmer Dale Rinker, who is seeking city permission to use it for agriculture.
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Iron ore processor plans $350M Indiana project

November 27, 2012
 IBJ Staff
A Minnesota-based mining company plans to spend as much as $350 million to build a iron ore pellet plant in Indiana, creating up to 100 jobs by 2015, the company announced Tuesday morning.
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Bloomington approves $27 million downtown hotel project

November 27, 2012
Associated Press
The Bloomington City Council has approved giving up some city property for construction of a $27 million Hyatt Hotel near the downtown courthouse square.
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Insurance customer lawsuits dog CNORestricted Content

November 24, 2012
Chris O'Malley
CNO Financial Group appears to have wrapped its arms around the cost of settling a trio of consumer lawsuits involving life insurance rate hikes, but it’s not out of the woods yet.
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Carmel council approves refinancing package

November 19, 2012
 IBJ Staff
Carmel’s City Council on Monday night voted 7-0 to approve a proposal to refinance $195 million in debt incurred by the Carmel Redevelopment Commission.
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ExactTarget co-founder Baggott turns zeal to natural farmingRestricted Content

November 17, 2012
Kathleen McLaughlin
Chris Baggott has spent the past year and a half raising cattle, pigs and chickens on pasture, rather than conventional feed grain, and without the use of hormones or antibiotics.
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Carmel project dogged by conflict questionsRestricted Content

November 17, 2012
Kathleen McLaughlin
An executive ousted from the firm developing The Barrington in Carmel alleges that the $142 million retirement-community project was driven by conflicts of interest.
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Local chain takes vacant Clearwater restaurant spotRestricted Content

November 17, 2012
Zionsville-based Oobatz! will open in building formerly occupied by Uno Chicago Grill.
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Zionsville, school district make $5.7M land deal with Dow

November 14, 2012
Scott Olson
Zionsville Community Schools and the town of Zionsville are teaming up to purchase and develop a prime piece of real estate owned by Dow Chemical Co.
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Truck-parts supplier expanding in Plainfield, adding 82 jobs

November 13, 2012
Troy, Mich.-based Meritor Inc., a global supplier of commercial truck parts, said it will consolidate North American remanufacturing operations by moving production from Ontario, Canada, to its facility in Hendricks County.
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Gift lets land trust preserve 109 acres in Johnson County

November 13, 2012
Dan Human
A $200,000 gift from the Dr. Laura Hare Charitable Trust will help the Central Indiana Land Trust acquire 109 forested acres in southwest Johnson County.
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$33 million mixed-use project to remake FishersRestricted Content

November 10, 2012
Cory Schouten
Fishers officials are finalizing a deal with a local developer for a mixed-use project that would launch a long-awaited transformation of the town’s suburban core.
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Hoosier colleges discover patents aren't just for faculty anymoreRestricted Content

November 10, 2012
Chris O'Malley
Universities that once focused on faculty inventions now are encouraging students to pursue patents. Last year, 355 Purdue University students filed a patent, a 62-percent jump from 218 student-filed patents the previous year.
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Out-of-the-way telecom company to branch into IndyRestricted Content

November 10, 2012
Chris O'Malley
Smithville Telephone, headquartered in Ellettsville, near Bloomington, is the state’s largest independently owned phone company. Its Smithville Digital division, which provides fiber-optic communications to businesses, hospitals and schools in 17 Indiana counties, mostly in the south, has quietly been growing on the periphery of Indianapolis.
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Town of Fishers to become city with elected mayor

November 6, 2012
 IBJ Staff
Voters in the fast-growing suburb north of Indianapolis approved a ballot measure Tuesday that will turn the town of 80,000 residents into a second class city with an elected mayor.
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