IBJ Staff

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 Shopping mall giant Simon Property Group Inc. plans to sell another 14 million shares of common stock to raise money for “general corporate purposes” in a new attempt to shore up its balance sheet, the company said yesterday.   The Indianapolis-based real estate investment trust did […]

Blackboard Inc., a Washington, D.C.-based education-technology firm, has agreed to acquire Indianapolis-based software developer Angel Learning Inc. for about $95 million, the companies announced yesterday. The transaction, composed of $80 million in cash and $15 million in stock, has been approved by both companies’ boards of directors and Angel Learning’s shareholders. It is expected to […]

Normal 0 false false false MicrosoftInternetExplorer4 Normal 0 false false false MicrosoftInternetExplorer4 Indianapolis-based ExactTarget Inc. announced today that it has signed a $70 million financing deal with three venture capital firms.   Led by Boston-based Battery Ventures, the VC infusion includes investments from Silicon Valley’s Scale Venture Partners and Baltimore‘s Montagu Newhall Associates. The investment […]

It’s opening day for the Indianapolis 500. Gates at the Indianapolis Motor Speedway opened at 9 a.m. Rookie orientation runs until 2 p.m. and practice from 2-6 p.m. Admission is $5, with children 5 and under free. The Indianapolis 500 is scheduled for May 24.

Indianapolis-based ExactTarget announced today that it has signed a $70 million financing deal with three venture-capital firms. Led by Battery Ventures, the round of financing includes investments from Silicon Valley’s Scale Venture Partners and Baltimore’s Montagu Newhall Associates. The VC infusion is one of the largest venture-capital investments in the nation this year. IBJ.com will […]

Investigators are trying to figure out what sparked a fire that damaged an east-side Indianapolis nightclub called Club Escalade in the 6700 block of East 38th Street. Repair men noticed the smoke late yesterday. No one was inside the building at the time of the fire.

Administrators plan to reopen two local schools ahead of schedule after they were closed when students there were diagnosed with the H1N1 virus, better known as swine flu. Spring Mill Elementary School and IPS School 60 were expected to remain closed until next Monday, but children attending those schools will now be allowed to return […]

Norwood Promotional Products Inc., an Indianapolis-based supplier of customized items like awards and logo-imprinted coffee cups, filed for Chapter 11 bankruptcy protection yesterday in Delaware. The company, the nation’s second-biggest seller of promotional products, plans to get back on its feet by selling out to Aurora Resurgence, a Los Angeles-based private equity firm, through a […]

Evansville-based American General Finance, a subsidiary of AIG, plans to cut 500 jobs and close 150 offices throughout the country, according to the Evansville Courier & Press. AIG spokesman Mark Herr declined to say when or where the cuts and closings would occur but told the newspaper that the company will reassign some employees to […]

Peoria, Ill.-based Caterpillar Inc. plans to lay off 141 Indiana employees for at least six months at its Large Engine Center in Lafayette, the Lafayette Journal & Courier reported today. Caterpillar also plans to implement an unspecified number of “rolling layoffs,” or furloughs, during the remainder of the year, the company told the newspaper in […]

Calumet Specialty Products Partners L.P. this morning reported a profit of $75.6 million in the first quarter, bouncing back from a loss of $3.4 million in the same period of 2008.   The Indianapolis-based refiner and processor of specialty lubricants attributed the higher profit to significantly lower prices on crude oil, which it uses to […]

Workers at a Cummins Inc. engine plant are working only two days this week and may see additional cuts in hours due to the shutdown of a Chrysler pickup truck assembly plant in Mexico. The Cummins Midrange Engine Plant in Walesboro makes engines for the Chrysler plant in Saltillo, Mexico, which has been shut down […]

Two men are in critical condition this morning after they were shot last night in the 3400 block of Broadway Street in Indianapolis. Police say up to 30 shots were fired. The victims, ages 56 and 32, were taken to Wishard Hospital and are expected to survive their injuries. Police are looking for a dark-colored […]

Indy 500 festivities kick into gear today at the Indianapolis Motor Speedway when rookie drivers hit the track for their first practice this morning and orientation program this afternoon from 2-5 p.m. Tomorrow marks the track’s official opening day. Gates open at 9 a.m.

Evansville-based Mead Johnson Nutrition Co. will receive $2.7 million in incentives from Illinois when it moves its headquarters to the Chicago suburbs later this month, the Chicago Tribune reported yesterday.The company, which has been based in Evansville since 1915, plans to move about 50 executives, including finance, legal and marketing managers, to Glenview, Ill., in […]

Crews are breaking ground today on Lawrence Village at the Fort. It’s part of a $9 million project that marks the final phase of the decade-long redevelopment of Fort Benjamin Harrison. Plans call for new streets, parks, bike paths and rain gardens on the 90-acre site. Village at the Fort will include shops, offices and […]

Indiana police have been investigating an increasing number of violent videos posted online by teenagers. In March, a 45-second video showing a brawl inside Danville Community High School appeared on YouTube. Scenes like it are becoming more common on the Internet as teenagers use cell-phone cameras to record fights. Fox 59 will have more at […]

ORDINANCE NO Susan Wampler 11.9999 Normal 0 false false false MicrosoftInternetExplorer4 Evansville-based Mead Johnson Nutrition Co. will receive $2.7 million in incentives from Illinois when it moves its headquarters to the Chicago suburbs later this month, the Chicago Tribune reported yesterday. The company, which has been based in Evansville since 1915, plans to move about […]

The Franklin City Council voted 6-1 last night to make the city’s smoking ban one of the most restrictive in Indiana. Franklin, located south of Indianapolis in Johnson County, previously passed a workplace smoking ban in 2006, but excluded some areas, including 21-and-over bars and private clubs. The new ordinance, set to take effect in […]