IBJ Staff

Losses in Clarian Health’s investment portfolio will force cutting 5 percent from next year’s operating expenses, a spokesman for Indianapolis’ largest hospital system said today. The cuts will involve salaried employees, but it’s too early in the 2009 budgeting process to project the number of lay-offs or which positions will be targeted, said spokesman James […]

Muncie-based Ontario Systems LLC laid off 126 of its roughly 500 workers yesterday, The Star Press reported. Most of the affected employees were at its home office, but a few were in the Columbus, Ohio, suburb of Berlin. The developer of debt-collection software said the action was necessary to align costs with revenue. Ontario was […]

John A. Kite has replaced his father, Alvin E. Kite, as chairman of Kite Realty Group Trust, the Indianapolis-based developer. John Kite had been president, CEO and a board member.  He has dropped the title of president, and the position has been taken up by Thomas K. McGowan, who had been senior executive vice president […]

A technology support company owned by Indianapolis accounting firm Katz Sapper & Miller Co. has acquired Digitech Inc., a local consulting and network services firm, for an undisclosed price. KSM Business Technology, which has nearly 300 employees, will absorb all six Digitech workers and provide a seamless transition for its mid-size clients, KSM said today. KSM […]

Indianapolis long-haul trucking firm Celadon Group Inc. has acquired the assets of Continental Express Inc., a trucking company headquartered in Little Rock, Ark., for $24 million in cash. The assets include 400 tractors and 1,100 trailers – enough to boost Celadon’s rolling capacity by about 13 percent. Also included are Continental’s truckload, intermodal and brokerage […]

A building abandoned by General Motors Corp. as it moved its once-extensive operations out of Anderson might be bought by an Anderson company that serves medical and aerospace companies. Hy-Tech Machining Systems LLC has agreed to buy the 240,000-square-foot Plant 18 for $425,000 – half the original asking price of $850,000, according to The Herald […]

SourceNet Inc., an Indianapolis-based temporary worker firm, has closed its East Chicago location, according to the Indiana Department of Workforce Development. Forty-eight workers are affected. The company, which serves large industrial and manufacturing clients, was not immediately available for comment.

Ice Miller may be the biggest law firm in Indianapolis, but it’s only a medium-sized player in the national landscape. That likely prompted Ice Miller and the smaller, Louisville-based firm of Greenebaum Doll & McDonald PLLC to merge in order to stay relevant. “You need to provide legal services in more than one jurisdiction to […]

Fast-growing locally-based consumer service appraiser Angie’s List this morning announced it has raised $7 million from Chicago-based Prism Mezzanine Fund. The deal caps a year in which the company had previously raised $53 million from investors. Prism will invest $1 million in exchange for an equity stake in Angie’s List. It also will provide $6 […]