A Carmel bank planned by Tower Financial Corp. has been deferred indefinitely, the parent of Fort Wayne-based Tower Bank & Trust Co. said today. Tower said in October it would form Tower Bank of Central Indiana with $13.5 million to $15 million in capitalization. The decision to pull back was driven by “Indianapolis market conditions” […]
Lloyd W. Benjamin III today said he will step down as president of Indiana State University when his contract expires June 30, 2008. Benjamin has been president of the Terre Haute university for seven years. He said he and his wife have other personal and professional ambitions they’d like to pursue.
Cohesant Technologies Inc. today posted fiscal second-quarter profit of $77,835, compared with profit of $502,254 a year earlier. Revenue of $7.4 million was up from $6.8 million. The Indianapolis company, which makes pipes and coating products for the water and wastewater markets, said the most recent quarter was hit by losses in its rehabilitation, and […]
Crawfordsville Road Partners LLC has bought 19 acres at the southeast corner of Interstates 465 and 74 on the west side with visions of attracting motorsports companies and hotels. Terms were not disclosed. The location is expected to benefit from being situated between Indianapolis Motor Speedway and O’Reilly Raceway Park, according to Meridian Real Estate, […]
University of Iowa regents this afternoon named Purdue University Provost Sally Mason president in a move anticipated in media reports yesterday. Mason, 57, was passed over for Purdue president in May in favor of University of California Riverside Chancellor France Cordova. IUPUI Chancellor Charles Bantz also was among four finalists
About 70 of the 100 jobs Veolia Water plans to create in Indianapolis in a relocation of its Houston headquarters will be in finance, accounting, information technology, and technical and support services, and pay an average compensation of $100,000 a year. Although some of the positions will be transferred from Houston, most will be filled […]
The relocation of Veolia Water’s North American headquarters to Indianapolis from Houston will bring about 100 jobs, according to a source close to the announcement. Mayor Bart Peterson and Gov. Mitch Daniels have scheduled a news conference at 3:30 this afternoon to announce the relocation. Veolia Water manages all operations, maintenance and customer-service facets of […]
Mayor Bart Peterson and Gov. Mitch Daniels have scheduled a news conference this afternoon at 3:30 to announce a “corporate relocation of North American operations to Indianapolis.” The news release about the announcement contains a file attachment labeled Veolia Water. Veolia Water is the Houston-based water division of Veolia Environment, which is based in France. […]
Indianapolis-based Bell Industries Inc. has agreed to sell some of its assets to Sprint Nextel Corp. for about $13.5 million in cash. The assets being sold represent stock ownership in certain wireless communications bandwidths that Bell acquired as part of its purchase of Jackson, Miss.-based SkyTel Corp., a wireless data and messaging company, in January […]
Indiana University trustees are expected during meetings today and tomorrow to declare several properties near downtown Bloomington as surplus, and set about finding developers to take them over. The properties, which include buildings for food storage and printing services, could open the way for the city’s certified technology park to blossom with more life science […]
Wayne Taylor Racing, which competes in the Grand American Road Racing Association, will expand into a new location at 7950 Georgetown Road and add 20 workers to the current nine, Indy Partnership said today. The move from Park Fletcher involves expanding manufacturing and engine development, and the new workers will be paid an average of […]
Purdue University Provost Sally Mason will be chosen president of the University of Iowa during a regents meeting tomorrow, according to The Des Moines Register, quoting an anonymous source. Mason was passed over for Purdue president in May in favor of University of California Riverside Chancellor France Cordova. IUPUI Chancellor Charles Bantz also was among four finalists.
A decade of strong profits for steelmakers is looming, experts said during the Steel Success Strategies conference underway in New York City this week. Demand is higher than expected, steelmakers are quicker to cut production when prices decline, supplies tighten during times of strong demand, and China is less of a threat, according to the […]
Indianapolis Mayor Bart Peterson said today that Airport Expressway has been renamed the Sam Jones Expressway after the long-time Urban League president. Jones died four years ago at age 75. The road was renamed to avoid confusion because it will not lead to Indianapolis International Airport after the midfield terminal project is finished in 2008.
Sharp Ford President Mike Shore said he accepted a buyout offer from the automaker and will close the dealership today because no one was available to take over when he retired. Shore, 61, took over from his father, Bill Shore, when he died in 1978. Bill Shore started at the dealership as a controller and […]
A coal gasification plant Duke Energy Corp. and Vectren Corp. want to build near Edwardsport in southwestern Indiana would push electric rates up 13 percent to 16 percent, a Duke official told the Indiana Utility Regulatory Commission yesterday. The $2 billion project, which would make synthetic gas from Indiana coal, would replace a Duke plant […]
Houston-based Mattress Firm said today it has bought three Sweet Dreams Mattress Center locations in the Indianapolis area, bringing the total number of local stores to 12. The three stores will be rebranded as Mattress Firm and sell Mattress Firm products.
The Indiana Court of Appeals is scheduled to hear arguments this afternoon in a case that asks whether a county can establish a special economic development area that includes land a municipality has started to annex, according to the Indiana Lawyer. The trial court ruled against Brenwick Associates LLC in a suit the developer brought […]
Only three other states lost more jobs than the 2,100 Indiana surrendered in May when compared to April, the U.S. Bureau of Labor Statistics said today. Michigan lost the most, 18,400, followed by Florida and Wisconsin. The downturn left Indiana with 2,974,400 seasonally adjusted positions.
American Commercial Lines Inc. shares fell nearly 10 percent yesterday to close at $24.50 after the Jeffersonville barge builder over the weekend and yesterday explained concerns it reported last week. Grain shipments fell because the company didn’t compete for some low-priced shipments, and overtime pay shot up as 400 new workers are trained to boost […]
