Carmel-based Allied Solutions LLC, which sells insurance, lending and market products to financial institutions, said today it has acquired a similar company headquartered in Kansas City, Mo., for an undisclosed price. The Kansas City company, MJB Insurance Services Inc., operates in Kansas, Missouri and Nebraska. MJB owner Mike Button is remaining with Allied Solutions as […]
The Sharper Image Corp. store at the Fashion Mall at Keystone at the Crossing will close. The bankrupt company announced Sunday that it will shutter all of its remaining stores. Eighty-six stores will be liquidated. The company liquidated 96 of its stores following its February bankruptcy, which was blamed on a slow economy and tight […]
Indianapolis-based Fortune Industries Inc. has closed on a $32 million line of credit with the company’s majority shareholder, Carter Fortune. The credit line replaces one with Fifth Third Bank and is secured by most of the company’s assets. John Fisbeck, the company’s CEO, will personally guarantee up to half of the credit line. The company […]
Sluggish demand for Dodge Ram pickup trucks has prompted Cummins Inc. to announce plans to lay off 125 workers at its diesel engine plant in Walesboro, just south of Columbus, from June 8 to mid-August. Rising fuel prices are hurting Ram sales. In October, the Columbus-based diesel engine maker ended contracts with 90 temporary workers […]
Canada-based KIK Custom Products plans to spend $7 million to expand its operations in Elkhart and create 190 jobs, according to the South Bend Tribune. The company makes personal care and household products for companies like Gillette, Johnson & Johnson and L’Oreal. KIK employs 700 in Elkhart and will begin hiring mechanics, forklift drivers and […]
Bloomington attorney Phillip Chamberlain was arrested last night and charged with five felony counts for allegedly stealing money from a client instead of investing the money in a golf course project and building a house in Lawrence County. Indiana Secretary of State Todd Rokita said today Chamberlain offered to invest the money as an alternative […]
Local online sports broadcasters Jason Dozier and Robert Kendall have bought a radio station in North Carolina with a third partner, local businessman Rod Sheeks. Dozier, of Indianapolis, and Kendall, of Brownsburg, run AudioSportsOnline.com. AudioSportsOnline broadcasts audio and video footage of youth, high school and college sports, including games from schools in Avon, Indianapolis and […]
Lebanon‘s city council has voted to send a nonbinding recommendation to the municipally owned utility that serves the city to stop offering Internet service. Lebanon Utilities anticipates losing $400,000 on the service this year and a total of $1.27 million by the end of 2010, according to the Lebanon Reporter. The utility’s board plans to […]
Federal-Mogul Corp., the Southfield, Mich., auto parts giant, plans to add as many as 50 employees at its lighting plant in the northeastern Indiana town of Avilla. The jobs will be part of a $6 million expansion. The plant now employs 120. The Indiana Economic Development Corp. offered as much as $500,000 in tax credits […]
As Indiana University’s 10-year technology plan comes to an end, the school is preparing to launch another plan for the next decade. Brad Wheeler, IU’s vice president for information technology, will lead a 140-member team to develop the next technology plan by the end of the year, according to The Herald-Times in Bloomington. IU President […]
Two Fort Wayne hospitals and a neurology center are launching a network to care for stroke victims, hoping to include as many as 30 facilities within 90 miles of the city. Parkview Health and Lutheran Health Network created the network with Fort Wayne Neurological Center, according to Greater Fort Wayne Business Weekly. Called StrokeCareNow, the […]
An Arizona man yesterday filed a class-action lawsuit against the NCAA over its practice of not refunding the $6 handling fee for lottery applications for tickets to Final Four games. In his suit in U.S. District Court in Los Angeles, Tom George asks that the NCAA to end the “illegal gambling” practice for men’s hockey […]
Johnson County commissioners have asked for a $22,531 reimbursement from the Indianapolis engineering and consulting firm RW Armstrong for unexpected additional work the county says it had to undertake on a road project. The commissioners blame Armstrong for leaving out drawings for a storm sewer and other work needed to upgrade the intersection of Stone’s […]
The Lafayette Redevelopment Commission approved providing $50,000 to the Caterpillar Large Engine Center to train 50 new workers, reports the Journal & Courier. The funds will come from the city’s tax increment financing and economic development income tax funds. Caterpillar employs nearly 1,800 at the site now; the additional 50 workers will fill production jobs […]
Toledo, Ohio-based Precision Cutoff LLC said today it will open a machine shop in Franklin and hire 47 workers by 2012. Precision plans to invest $2 million at an existing, 110,000-square-foot building in Hurricane Industrial Complex. The Indiana Economic Development Corp. offered $35,000 in tax credits and $29,500 in training grants. The city of Franklin […]
The federal government has rebuffed an attempt by Ball Memorial Hospital in Muncie to pay higher reimbursements for the Medicaid and Medicare patients it serves. Ball Memorial, which lost $7 million on the patients last year, is reimbursed 86 cents for every dollar of the costs. Many other hospitals in the state receive 96 cents, […]
Indianapolis-based Simon Property Group Inc. has access to $3.5 billion in credit as it anticipates snapping up shopping malls, according to Bloomberg. Chief Financial Officer Steve Sterrett told Bloomberg that the $1.5 billion of bond positions the company sold last week was used to pay down debt. The resulting improvement to Simon’s balance sheet positions […]
Lifeline Data Centers LLC said yesterday that its acquisition of Eastgate Consumer Mall has closed. The Indianapolis company announced in December that it would spend $23 million to transform the 370,000-square-foot mall at East Washington Street and Shadeland Avenue into a high-tech hub for hosting a data-storage operation. Common areas of the mall will not […]
Browning Investments, the Indianapolis developer that has built projects ranging from the NCAA headquarters to the downtown Marriott Hotel, is considering building a four-star hotel in downtown Evansville near the Aztar Casino and a possible new arena desired by some Evansville boosters. Browning said a new arena and other attractions would lure convention traffic, and […]
Steel Partners II said in a Securities and Exchange Commission filing yesterday that it is considering escalating its stake in Conseco Inc. from 10 percent to 22 percent. New York-based Steel Partners also said Conseco directors have been “slow” to implement a strategic review launched in March. “Return on equity of Conseco Insurance Group is […]
