Fineline Printing Group in Indianapolis has spent $2.5 million on a Heidelberg Speedmaster printing press, an investment that will require hiring 25 more workers in the next two years, Fineline said yesterday. The German-built offset press is the most productive in its class, said Fineline, which is on the northwestside. Family-owned Fineline counts Eli Lilly […]
The Indiana Farm Bureau today proposed cutting property taxes by about a third, or more than $2 billion, and replacing the lost revenue with higher income and sales taxes. Under the proposal, costs for schools, welfare, local courts and the “rainy day” fund would be shifted from local government to the state. The state personal […]
Mark Ristow, a 62-year-old Indianapolis resident, has been charged by the Securities and Exchange Commission with defrauding mutual savings banks and the banks’ depositors, and has pleaded guilty to similar charges leveled by the U.S. Attorney’s Office in New Jersey, the SEC said today. Through various means, Ristow misrepresented himself in accumulating shares of 23 […]
The Indianapolis Colts yesterday announced a sponsorship deal with Ohio-based Huntington Bank that includes sponsorship of the new Lucas Oil Stadium’s west gate, which will be named and themed for the bank. Terms of the deal were not released, but sources close to the deal said it was a multi-year, multi-million dollar deal. In September, […]
The United Auto Workers has launched a national strike against General Motors Corp., GM spokesman Dan Flores said today. It’s the first nationwide strike during auto contract negotiations since 1976, when Ford Motor Co. plants were shut down. Workers walked off the job and began picketing today outside GM plants after the 11 a.m. UAW […]
Officials for Speedway-based Zipp Speed Weaponry announced Sept. 21 that they have signed a letter of intent to be acquired by Chicago-based SRAM Corp.Both companies design and manufacture high-end bicycle components. Financial terms of the deal, which is expected to close within 60 days, were not disclosed. Zipp will maintain its headquarters on Main Street […]
Genesco Inc. is breaching terms of the deal to sell to locally based Finish Line Inc because Genesco is withholding certain financial information from Finish Line and won’t grant it access to Genesco’s chief financial officer and other financial staff, Finish Line said this morning. The statement was Finish Line’s first official response to last […]
Indianapolis-based Eli Lilly and Co. is suing Sun Pharmaceutical Industries Ltd. of India to stop Sun from selling a generic version of its hyper-disorder drug Strattera. Lilly, which filed the suit in Detroit on Sept. 20, said it would be “irreparably harmed” if the generic wasn’t stopped, according to Bloomberg. Sun’s application to the U.S. […]
Wolf Envelope Co. will invest at least $1.8 million and hire 26 additional workers over four years at its envelope printing operation in Angola, Indiana Economic Development Corp. said today. Wolf, based in Troy, Mich., will add high-speed color jet printers at the northeast-Indiana site. The plant employs 82 who print 1 billion envelopes a […]
Paul Estridge Jr. has filed a petition to try to stop the state from collecting a fee stemming from the sale of his minority stake in Indiana Downs horse track in Shelbyville. Estridge, of Carmel, claims that the fee is in effect a transfer tax, and that the tax is unconstitutional, according to The Courier-Journal […]
A deal for the sale of Harman International Industries Inc. might fall apart, The Wall Street Journal reported today. Harman, which makes audio equipment and is based in Washington, D.C., has a plant in Martinsville called Harman-Becker Automotive Systems. The location slashed 84 of its nearly 500 positions early this year as production moves to […]
The newly formed Carmel Institute has offered $20 million for the former Hilbert mansion, according to a source familiar with the bid. That bid matches Conseco Inc.’s asking price for the mansion, which has been on the market for two years. Conseco won control of the residence during a court battle with former CEO Steve […]
Genesco Inc.’s hard line toward Finish Line Inc. likely means the Indianapolis company has no choice but to go forward with the $1.5 billion acquisition of the Tennessee firm. That was the take of a Wall Street analyst this morning after Nashville-based Genesco announced it had sued Finish Line to try to force it to […]
Coachmen Industries Inc., the Elkhart-based maker of recreational vehicles and manufactured housing, will close its Zanesville, Ohio, plant and move the work to a plant in Decatur, Ind. The Ohio plant, which makes All-American Homes, will be shuttered within 60 days in response to weak market conditions, according to Bloomberg.
Average sale prices for central Indiana homes rose slightly in August, but the number of homes sold dropped 18.5 percent from the same month last year, according to a report issued today by the Metropolitan Indianapolis Board of Realtors. Total home sales year-to-date are down about 8 percent from the same period during 2006. The […]
Arvin Industries was once one of Columbus, Ind.’s largest employers and a corporate pillar in the southern Indiana city. But the auto parts maker that absorbed it in 2000 plans to shutter Arvin’s last presence there by the end of this year. Columbus Mayor Fred Armstrong was notified by e-mail this week that Michigan-based ArvinMeritor […]
Genesco Inc. said today it sued Indianapolis-based Finish Line Inc. and Finish Line’s bank to force Finish Line to close its $1.5 billion acquisition. “No more delays by The Finish Line and UBS; no more reservation of rights; no more bankers’ putting their pencils down,” Genesco CEO Hal Pennington said in a statement. “We want […]
Anderson is one of four mid-sized cities an information technology company is considering as a site for a 500-employee call center, according to the Herald Bulletin. The Anderson Redevelopment Commission called a special meeting last night to consider an unnamed company’s request that the city spend $850,000 to upgrade an existing building it wants to […]
ParaPRO LLC, a startup specialty pharmaceutical company that’s developing a novel treatment for head lice, has received a $2.1 million grant from the 21st Century Research and Technology Fund, the Indiana Economic Development Corp. announced today. The grant will allow the Carmel company to complete clinical trials of its medicine for head lice and their […]
A Virginia company says it has temporarily withdrawn its ambitious plans to build a hospital and hotel complex east of Brownsburg. Joe Cross, the construction manager for Metropolitan Medical Care Inc., confirmed today that the company has temporarily withdrawn its request for zoning approval from the Hendricks County Planning Commission, but that it intends the […]
