Carmel-based KAR Holdings Inc., the parent of Adesa Auction Services, today posted a fourth-quarter loss of $49.3 million on $396.2 million in revenue for the period ending Dec. 31. KAR’s loss widened from $34.3 million, and revenue declined 0.6 percent, from the same period a year ago. For the year, the auto auction company reported […]
Local home builder C.P. Morgan Communities Inc., which closed Friday, said today it is mailing refunds this week to customers who signed contracts for homes that have not been built. Meanwhile, customers with homes that are complete or nearly completed will hear from a title company within the next month to schedule a closing, the […]
F.C. Tucker Co. has entered into an agreement with Shoopman Home Building Group in which 21 of its real estate agents will staff model homes in seven communities Shoopman is developing. Jim Litten, president of F.C. Tucker Co.’s residential real estate services division, lauded the arrangement as “one-stop” shopping for prospective homebuyers. “Consumers will be […]
Local home builder C.P. Morgan Communities Inc., which closed Friday, said today it is mailing refunds this week to customers who signed contracts for homes that have not been built. Meanwhile, customers with homes that are complete or nearly completed will hear from a title company within the next month to schedule a closing, the company […]
Eli Lilly and Co. plans a $2.4 billion debt sale to repay the loans it used to acquire ImClone Systems Inc., Bloomberg News reported, citing an unnamed person familiar with the transaction. Indianapolis-based Lilly bought New York-based ImClone for $6.3 billion in November. Lilly plans to sell three batches of bonds, the person said. Lilly […]
The developer of a new police cruiser is considering producing the clean-burning vehicle in Indiana. Atlanta-based Carbon Motors Corp. said today that Connersville, about 70 miles east of Indianapolis, is among five locations the company is weighing. The others are in Georgia, Michigan, North Carolina and South Carolina. The company said it has issued a […]
An overnight robbery of the Residence Inn on Digital Way in Indianapolis could be linked to a string of other robberies. Just after 2:30 a.m., two men pulled a knife on the desk attendant and made off with a small amount of cash. Investigators say the men fit the description of two thieves who robbed […]
Simon Property Group Inc. plans to hoard cash this year to purchase property that may come on the market, said David Simon, CEO of the Indianapolis-based mall owner. Simon made the comments this morning at a Citigroup 2009 Global Property CEO Conference in Naples, Fla., Bloomberg News reported. “We are going to hoard and warehouse […]
Carmel Mayor Jim Brainard defended himself yesterday in a meeting with council members about the costs of the Keystone Avenue project. The state originally provided $90 million for the construction of multiple roundabouts on Keystone. The cost has increased to $130 million. Brainard says the initial cost was an estimate, but some council members say […]
Fort Wayne Foundry Corp. plans to close its production plant in Fort Wayne in June, eliminating 157 hourly positions. The company said today that it also would conduct a “mass layoff” in June at its Fort Wayne machining division, which had about 150 employees in mid-2007. The company did not say how many jobs would […]
A new Web site will allow people to track how the federal economic stimulus package is affecting Indiana. The invest.in.gov Web site includes some basic information about the stimulus money, such as how much cash will come to Indiana for roads and which projects have already been selected. The site also includes a message from […]
Indianapolis-based Marsh Supermarkets Inc. said today it plans to open its first new store in almost a year. Marsh will open a Hometown Market store in the Chapel Hill neighborhood of Indianapolis in late spring. The store, at 7405 W. 10th St., will take over the site of a former O’Malia Food Market that was […]
Decatur-based Porter Inc. has laid off another 62 workers, the latest round of cost-cutting for the troubled boat manufacturer. The northeast Indiana company has laid off 225 workers in the last 90 days. And since 2007, the company has reduced its work force from a peak of 600 employees to about 130, plant manager Pat […]
A little girl missing for more than 15 hours has been found. Indianapolis Police located 8-year-old Annalexass Van Duyn today just after 8 a.m. She disappeared yesterday at 5:15 p.m after leaving for a friend’s house in the 3700 block of Gladstone Avenue, a block-and-a-half away from her home. She was found in another person’s […]
Simon Property Group Inc. plans to hoard cash this year to purchase property that may come on the market, said David Simon, CEO of the Indianapolis-based mall owner. Simon made the comments this morning at a Citigroup 2009 Global Property CEO Conference in Naples, Fla., Bloomberg News reported. “We are going to hoard and warehouse […]
Sixty-nine employees will lose their jobs when Sears Holdings Corp. closes its second store in the Indianapolis area this year, the company confirmed today. The Sears Essential location in Noblesville will close May 31. About 110 employees lost their jobs in January after the struggling retailer vacated its store at Lafayette Square Mall. Locally, Sears […]
Indianapolis-based Marsh Supermarkets Inc. said today it plans to open its first new store in almost a year. Marsh will open a Hometown Market store in the Chapel Hill neighborhood of Indianapolis in late spring. The store, at 7405 W. 10th St., will take over the site of a former O’Malia Food Market that […]
Existing home sales in central Indiana slid 16 percent for the three-month period ending Jan. 31, the Metropolitan Indianapolis Board of Realtors reported today. Compared with the same time period the previous year, units sold in the 13 counties tracked by the trade group dropped to 4,458 from 5,336. The median sale price fell 13 […]
Four Indiana companies are among Fortune magazine’s top 363 most-admired companies worldwide. Although none cracked Fortune’s top 50, Indianapolis-based Brightpoint Inc., Simon Property Group Inc. and WellPoint Inc., as well as Columbus-based Cummins Inc., helped push Indiana into a tie for 19th place among states. California led all states with 38 companies on the list. […]
Carmel Mayor Jim Brainard is expected to answer questions tonight at Carmel’s city council meeting about the escalating cost of the massive Keystone Avenue project. The chair of Hamilton County’s Democratic Party is asking the mayor for full disclosure. The improvements, which include plans for six new roundabouts, originally were projected to cost less than […]
