Delphi Corp. plans meetings today with salaried workers at the company’s Electronics & Safety Division in Kokomo – meetings that employees fear will precede massive layoffs. Rumors of sweeping layoffs are unfounded, a Delphi spokesman told the The Kokomo Tribune. The Troy, Mich., auto parts maker learned Friday that that it must shift $1.5 billion […]
Lafayette-area leaders anticipate meeting soon with Eli Lilly and Co. officials to try to play a role in the Indianapolis-based drug giant’s plans for the 54-year-old Tippecanoe Laboratories, according to The Journal & Courier of Lafayette. Lilly said July 30 that an announcement on the future of the plant would be forthcoming within a year. […]
Rick Nisbeth, a prominent investment banker in Indianapolis before leaving the city in 2002, has retired from Citrus Bank in Boca Raton, Fla. Nisbeth, 60, was Citrus chairman, president and CEO. The bank is a subsidiary of CIB Marine Bancshares Inc., which is headquartered in the Milwaukee suburb of Pewaukee. CIB sold Citrus to 1st […]
Indianapolis-based CTI Group Holdings Inc. reported $533,412 in red ink in the second quarter after turning a $48,957 profit a year earlier. The company, which focuses on software for enterprise networks and telecommunication services providers, attributed the loss to ongoing costs to enforce its patents. CTI stock, which closed yesterday at 34 cents per share, […]
Polaris Laboratories LLC, an Indianapolis company that analyzes oil, fuel and coolants, plans to create 80 jobs in the next six years, Indiana Economic Development Corp. said today. Polaris, which has 84 workers and is based at 7898 Zionsville Road on the far northwest side, will spend $1.65 million to add 10,000 square feet to […]
The 500-employee office complex Cummins Inc. is building near its headquarters in downtown Columbus might have ended up in another state had the city not offered to pay for a new parking garage. The claim came Tuesday during Mayor Fred Armstrong’s mid-year State of the City report, according to The Republic of Columbus. Armstrong’s remarks […]
Poet LLC, a Sioux Falls, S.D., ethanol distiller, wants to build a fourth plant in Indiana, according to The Journal & Courier of Lafayette. The $260 million plant would be located at West Lebanon, which is west of Lafayette, and produce 115 million gallons a year. Poet operates sites in Jay and Madison counties and […]
Olympic divers in Beijing are jumping off aluminum springboards made at Alcoa Inc.’s plant in Lafayette, according to The Journal & Courier of Lafayette. The boards were extruded in Lafayette and sent to a Nevada company, Duraflex International, to be finished and coated. The Lafayette plant also supplied boards used in U.S. Olympics Diving Trials […]
AIT Laboratories has added 77 local jobs this year, exceeding the 50 jobs it promised to add by the end of the year. Seventeen are sales jobs outside the Indianapolis area. The job growth brings total AIT employment to 224. The growth is in addition to the 60 jobs added in 2007. In the past […]
Carmel-based KAR Holdings Inc., which owns the Adesa Inc. auto auction and Insurance Auto Auctions Inc., reported late yesterday that second-quarter profit increased nearly 35 percent to $6.2 million from the second quarter last year. KAR, which didn’t elaborate on the performance, had no operations until its acquisition of Adesa closed on April 20 in 2007. […]
Tony Lennen, who has led Major Hospital in Shelbyville for 15 years and has been one of the city’s most energetic economic development leaders, resigned unexpectedly on Monday. Lennen wouldn’t comment on the move, according to the Shelbyville News. Hospital officials deferred questions to Lennen, saying it was a personnel matter. However, board members accepted […]
Colliers Turley Martin Tucker, the largest commercial real estate firm operating in Indiana, is merging with three other companies to become one of the nation’s largest real estate services. Colliers, which is headquartered in St. Louis, is forming a holding company with Colliers Pinkard of Baltimore and Cassidy & Pinkard Colliers of Washington, D.C. The […]
AM General LLC, the Mishawaka company that manufactures the Humvee military vehicle and H2 Hummer consumer sport-utility vehicle, now plans to build taxies. AM General will make the Standard Taxi for Vehicle Production Group LLC of Troy, Mich., which recently landed $160 million in funding for the project, according to the South Bend Tribune. The […]
Just three months after Nestle USA began ramping up production at its new plant in Anderson, the company said in a long-expected announced today that it will spend an additional $200 million on an expansion. Nestle will add 135 workers to the 300 who will staff the initial, $359 million project, the Indiana Economic Development […]
Amazon.com will open a 950,000-square-foot warehouse in Airtech Logistics Park in Plainfield, the Indiana Economic Development Corp. announced late yesterday. The online retailer will hire more than 350 workers by 2011. Amazon in March committed to opening a 600,000-square-foot warehouse with 1,200 jobs in the Boone County community of Whitestown, and also plans to put […]
More than 1,000 people from nine states attended an auction Saturday of hundreds
of items seized from Christopher P. White, the founder of bankrupt developer Premier Properties USA Inc.
Columbus, Ohio-based American Electric Power and Charlotte, N.C.-based Duke Energy plan to build 240 miles of transmission lines between Greentown Station near Kokomo and the Rockport generating plant east of Evansville. The $1 billion project requires regulatory approval and wouldn’t be completed until 2014 at the earliest, the utilities said today. The utilities say the […]
St. Vincent Indianapolis and Women’s hospitals have received a $1.4 million gift from the estate of a surgeon who practiced at the hospital for decades. Dr. Robert F. Nagan’s gift is the largest ever by a physician to the hospital. About $375,000 went toward a new continuing care nursery at St. Vincent Women’s Hospital. The […]
The Truth in Elkhart yesterday criticized Gov. Mitch Daniels and his challenger in this year’s election, Jill Long Thompson, for inadequate plans to boost economic development in north-central Indiana. In an editorial yesterday, the newspaper chided Daniels for claiming to have creating the best business environment in the Midwest even as the core recreational vehicle […]
Nearly half the layoff and closing notices registered with the Indiana Department of Workforce Development this year have involved car and truck parts manufacturers, companies making mobile homes and recreational vehicles, and businesses involved in air service. The common thread across the industries is rising fuel prices, according to The Times of Munster. More than […]
