Federal suit: College prep firm insolvent, owes millions
A credit union that holds loans on thousands of prospective college students is suing an Indianapolis-based college-test-preparation company, alleging that it owes it more than $12 million.
Associated Press and IBJ Staff
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Railway shipper to cut 193 jobs in Indiana by end of year
Norfolk Southern Corp. has announced plans to cut the jobs by the end of the year at its Triple Crown Services subsidiary in Fort Wayne.
Raided nursing home company says it’s cooperating in probe
Indianapolis-based American Senior Communities, which was raided by federal agents Tuesday, said it will fully comply with a government investigation.
Indiana-based Schurz to sell TV, radio stations for $442.5M
Schurz, based in Mishawaka, owns nine radio stations in Indiana—four in South Bend and five in Lafayette. It also owns WSBT-TV Channel 22, the CBS affiliate in South Bend.
Pacers acquire D-League’s Fort Wayne Mad Ants
The Indiana Pacers have become the 10th National Basketball Association team to buy their Development League affiliate. The Fort Wayne Mad Ants will become their exclusive farm team.
Online music retailer Sweetwater adding 285 jobs
Sweetwater Sound Inc. says it will invest $8.8 million in expanding its Fort Wayne headquarters and creating up to 285 new jobs by the end of 2018.
Indiana Beach resort sold to amusement park firm
The 89-year-old entertainment venue in Monticello is becoming part of a new California company with more than a dozen parks nationwide.
Indiana auto parts plant with 750 workers set to close
The plant in Winchester, east of Muncie, has been the North America branch for Japanese manufacturer Marujun since 1999. The closing process will begin next month and finish late next year.
Pence headed to Japan on an economic development trip
Indiana Gov. Mike Pence plans to attend the Japan-U.S. Midwest Conference, meet with business executives and government leaders and host an economic development reception.
Market plunge driven by fearful investors fizzles in U.S.
A wave of fear triggered by instability in China initially doused U.S. stocks on Monday morning, but then quickly receded by noon.
Goody’s parent to close about 90 underperforming stores
A national retailer that operates about 20 Goody’s stores in Indiana plans to close about 10 percent of its locations.
Feds: Fogle had sex with minors, distributed child pornography
Longtime Subway pitchman Jared Fogle traveled to pay for sex acts with minors and received child pornography, federal prosecutors alleged Wednesday. He faces at least five years to more than 12 years in prison.
UPDATE: Feds demand Armstrong medical records from IU
The government wants to see Lance Armstrong’s medical records from his treatments for cancer as it attempts to recover millions of dollars in sponsorship money paid to his cycling teams.
CNO Financial tops quarterly earnings expectations
CNO Financial Group Inc. on Wednesday reported second-quarter profit of $46.8 million, down 40 percent from the same quarter of 2014.
Amazon plans to hire 2,100 at Indiana warehouses
The company says it will bring on 1,400 new workers at central Indiana fulfillment centers in Indianapolis, Plainfield, and Whitestown, as well as an additional 700 workers at its Jeffersonville location in southern Indiana.
Indiana woman charged in business thefts, fraud scheme
Investigators say 35-year-old Kacey Rucker entered businesses in Indianapolis, Greenwood, Avon and Kokomo and stole wallets from employees as they worked.
Indiana cancels post-RFRA contract with PR firm after 3 months
State officials have ended a contract with a New York PR firm it hired to assess the damage to Indiana’s reputation after the national furor over its religious freedom law. After three months, the firm will be paid $365,000.
Indiana tries to lure Connecticut firms amid tax controversy
The state of Indiana is suggesting three major Connecticut employers that openly criticized planned tax increases consider moving to the Hoosier State.
UPDATE: Council to sue over city’s $32M electric car contract
Vision Fleet, the electric car vendor in the middle of a dispute between the City-County Council and the city of Indianapolis, is seeking a legal review of its contract in which a five-judge panel determines the validity of the pact.
IPL to build $25M storage complex in Marion County
The Battery Energy Storage System, or BESS. will be built at the Harding Street Station. The utility received approval for a 10-year tax abatement from the county that will save it more than $3 million on the project.