Private Companies

IU Health to lay off 800 employees

September 12, 2013
J.K. Wall
The Indianapolis-based hospital system said Thursday it must make the cuts because fewer patients have been coming to hospitals and payment rates for its services have been declining.
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Mammoth distribution center sold to California firm

August 26, 2013
Mason King
A real estate firm with growing holdings in the Indianapolis area has purchased a 1.1 million-square-foot distribution building in the AmeriPlex at Indianapolis business park.
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Phone company lays off hundreds amid inquiry

July 15, 2013
Dan Human
A subsidized phone service provider under scrutiny from Indiana regulators is laying off hundreds of salespeople across the country amid inquiries into its sales tactics.
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Dunbar Cook deal an omen of more accounting mergers

July 11, 2013
Chris O'Malley
Accountants point to aging partners at firms who are looking to retire, more complex regulations and an attractive local business climate as reasons out-of-town accounting firms are looking this way.
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Cell phone retailer to establish Carmel office, hire 145

July 2, 2013
Mason King
One of the largest private firms in Indiana, Moorehead Communications will occupy a 47,000-square-foot building that it acquired earlier this year. The project will run about $5 million.
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Fair Finance trustee to continue pursuit into 2014

June 21, 2013
 IBJ Staff
The attorney charged with recovering some $200 million for the 5,300 investors bilked by Tim Durham’s Fair Finance Co. plans to continue filing lawsuits for reparations into next year.
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Explanations vary for dearth of women in top rungs of business

June 1, 2013
Dan Human
Of 112 public and large private-company CEOs, only four are women, although women make up 47 percent of Indiana's work force. The four Indiana companies with a woman as CEO at the end of 2012—Bioanalytical Systems, Fortune Industries, Defender Direct and HP Products Corp.—were among a tiny group nationwide with women at the helm.
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Broad Ripple telecom firm plans big growth, 183 jobs

May 10, 2013
Mason King
Founded in 2007 by Purdue University students, Weeks Communications has established a new headquarters in Broad Ripple and plans to invest $4.1 million as it aggressively hires new employees.
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Geico service center to create up to 1,200 jobs in Carmel

March 18, 2013
Mason King
The insurer will invest millions to lease, renovate and equip a 109,000-square-foot customer service center at 101 W. 103rd St. It plans to begin hiring immediately, and bring up to 1,200 new jobs by 2016.
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Settlement talks set for Don Marsh severance dispute

March 1, 2013
Scott Olson
Lawyers for Marsh Supermarkets Inc. and its former CEO will meet Monday on the issue of whether Don Marsh should have to repay the roughly $2.1 million in severance he received from the company.
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LDI installs new Lacy as CEO, hunts for acquisitionRestricted Content

February 23, 2013
J.A. Lacy replaced David Shane, who retired Jan. 1. Lacy wants to add another distribution or logistics and manufacturing firm to the company's portfolio.
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UPDATE: Sensient to cut 125 jobs due to Chicago move

February 14, 2013
Sensient Technologies Corp. has alerted state officials that it will lay off 125 workers from its Indianapolis operations. That follows the company's announcement that it plans to move its local Flavors & Fragrances Group headquarters to suburban Chicago.
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Greensburg auto-parts plant plans expansion, 200-plus hires

February 12, 2013
 IBJ Staff
Automotive supplier Valeo expects to invest $15.5 million in new machinery for its Greensburg facility as part of its plans to expand operations in the plant and bring more than 200 workers onto the company payroll by 2014.
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Defense attorneys turn tough in Bales trial

February 1, 2013
Cory Schouten
The legal team representing real estate broker John M. Bales and partner William E. Spencer haven't called their first witness and already they're putting up a spirited fight as federal prosecutors seek to prove 13 charges including bank, mail and wire fraud.
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Developer loses fraud appeal

December 28, 2012
Scott Olson
The Indiana Court of Appeals affirmed Christopher White's 2009 conviction, resulting from a $500,000 bad check he wrote as he tried to save his real estate development firm.
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Fort Wayne church insurer plans to add 102 jobs

December 27, 2012
Brotherhood Mutual Insurance Co. expects to hire the employees by 2016 as part of a $15 million expansion that includes building a 54,395-square-foot facility at its headquarters.
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Gerdt Furniture to close doors after 53-year run

December 21, 2012
 IBJ Staff
The last remaining store for the family-owned business, which recently shuttered its Castleton location, will stage a liquidation sale on Dec. 28.
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Speech recognition technology firm gets cash infusionRestricted Content

November 3, 2012
Waveform Communications LLC got its second round of funding for research and development.
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New rules open door to ads for private placementsRestricted Content

September 15, 2012
Kathleen McLaughlin
In accordance with the Jumpstart Our Business Startups Act, the Securities and Exchange Commission will lift the long-standing ban on “general solicitation” of unregistered securities.
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Six from Indiana make top 500 on Inc.'s fastest-growing list

August 21, 2012
 IBJ Staff
A half-dozen Indiana companies were ranked in the top 500 in Inc.'s annual list of the the nation's fastest-growing private companies, but only two are from Indianapolis.
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Web startup aims to connect private businesses, investors

July 28, 2012
Andrea Muirragui Davis
Private firms that need to raise relatively modest amounts of capital have a hard time finding money. Now three Indianapolis entrepreneurs think they have the answer: crowdfunding. Individuals make small investments that are aggregated to fund a business. Indianapolis-based Localstake wants to be the matchmaker.
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Commodities fueled some of Indiana's largest private companies in '11Restricted Content

June 16, 2012
Norm Heikens
Oil, grain were particularly helpful for cooperatives. An improved economy also propelled manufacturers ahead.
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Indianapolis fastest-growing companies run the gamutRestricted Content

June 16, 2012
Marc D. Allan
This year's list of fastest-growing private companies in the Indianapolis area is a diverse lot, operating in industries ranging from human resources to office furnishings to construction to home health care and games.
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Sale of Fortune Industries would take company private

March 30, 2012
Scott Olson
The company is set to be purchased by CEP Inc., a holding company led by Fortune Industries CEO Tena Mayberry and Chief Financial Officer Randy Butler. But several law firms are investigating the sale for potential unfairness on behalf of shareholders.
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Wheaton acquiring residential mover BekinsRestricted Content

February 11, 2012
Chris O'Malley
Wheaton World Wide Moving is buying the nation’s oldest and one of its largest household movers, Bekins Van Lines. The deal is expected to bring 38 jobs to Wheaton’s northeast-side headquarters.
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  1. You are correct that Obamacare requires health insurance policies to include richer benefits and protects patients who get sick. That's what I was getting at when I wrote above, "That’s because Obamacare required insurers to take all customers, regardless of their health status, and also established a floor on how skimpy the benefits paid for by health plans could be." I think it's vital to know exactly how much the essential health benefits are costing over previous policies. Unless we know the cost of the law, we can't do a cost-benefit analysis. Taxes were raised in order to offset a 31% rise in health insurance premiums, an increase that paid for richer benefits. Are those richer benefits worth that much or not? That's the question we need to answer. This study at least gets us started on doing so.

  2. *5 employees per floor. Either way its ridiculous.

  3. Jim, thanks for always ready my stuff and providing thoughtful comments. I am sure that someone more familiar with research design and methods could take issue with Kowalski's study. I thought it was of considerable value, however, because so far we have been crediting Obamacare for all the gains in coverage and all price increases, neither of which is entirely fair. This is at least a rigorous attempt to sort things out. Maybe a quixotic attempt, but it's one of the first ones I've seen try to do it in a sophisticated way.

  4. In addition to rewriting history, the paper (or at least your summary of it) ignores that Obamacare policies now must provide "essential health benefits". Maybe Mr Wall has always been insured in a group plan but even group plans had holes you could drive a truck through, like the Colts defensive line last night. Individual plans were even worse. So, when you come up with a study that factors that in, let me know, otherwise the numbers are garbage.

  5. You guys are absolutely right: Cummins should build a massive 80-story high rise, and give each employee 5 floors. Or, I suppose they could always rent out the top floors if they wanted, since downtown office space is bursting at the seams (http://www.ibj.com/article?articleId=49481).

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