Dallas added suites to its 2011 Super Bowl proposal at the 11th hour-a move that may have dealt a fatal blow to Indianapolis‘ bid to host the big game. Sources say Dallas viewed the additional suites as needed because of strong competition from Indianapolis. The suites will be used by the NFL to entertain guests […]
A giant book distributor has agreed to lease more than 500,000 square feet-an entire building-in Park 100. North Carolina-based Baker & Taylor, the world’s largest distributor of books, will take the entire Building 140 at 5045 W. 79th St. The building is owned by Prudential and managed and leased by locally based Duke. Jay Archer, […]
The Indianapolis committee bidding to host the 2011 Super Bowl has raised more than $25 million to pay for the event. The figure was a self-imposed goal, and has been funded entirely by private donations, said Baker & Daniels partner Fred Glass, who is helping head the team. A decision is expected this afternoon. Indianapolis […]
Eli Lilly and Co. could benefit from a recent New England Journal of Medicine report that Avandia, GlaxoSmithKline’s diabetes drug, might heighten the risk of heart attacks by 43 percent, according to Forbes. Lilly and a Japanese partner have developed Actos, which is similar to Avandia. However, unlike GlaxoSmithKline’s drug, Actos doesn’t make a big […]
A plastics-molding plant in the southwestern Indiana town of Mount Vernon has been bought as part of Saudi Basic Industries Corp.’s $11.6 billion acquisition of GE Plastics. The Saudi Arabian company is committed to the facility and its 1,450 workers, GE Plastics CEO Brian Gladden told the Evansville Courier & Press. Opened in 1960, the […]
Nikki Longworth no longer is executive director of Indianapolis City Market. Her departure ends a sometimes-controversial six-year tenure. A market employee confirmed the departure. Additional information was not immediately available. The market is in the midst of a $1.8 million renovation that is running behind schedule.
The nation’s only CVS pharmacy to be build in the Art Deco style will be in The Village of West Clay in Carmel, the developer, Brenwick Development, said today. The 13,013-square-foot store is expected to open this fall.
Jury selection was expected to begin late this morning in the civil trial of Timothy Harcharik, a former Brightpoint Inc. worker accused of helping orchestrate an $11.9 million accounting fraud in the late 1990s. Harcharik, 53, served as Brightpoint’s director of risk management from 1997 to 2002. The Securities and Exchange Commission says that in […]
Patrick Industries Inc. has completed its purchase of Adorn LLC, another Elkhart maker of recreational vehicle and manufactured house components. The price was not disclosed. Publicly-traded Patrick generated $348 million in revenue last year and Adorn, $240 million. Patrick said the acquisition will add synergies in logistics, personnel, purchasing and other functions.
Miasa Automotive LLC, which makes transmission parts, plans to open its first U.S. plant in Muncie. The Spanish company will hire 12 workers to make gearbox components. The company received nearly $90,000 in tax credits and other incentives from the state and Delaware County, according to Indiana Economic Development Corp.
This year’s TechPoint Mira Award winners included Indianapolis-based ExactTarget, ChaCha, of Carmel, and West Lafayette life science company Quadraspec Inc. The awards are given out annually by the not-for-profit to promote Indiana technology-based companies. This year’s winners, announced Friday, include: -Information Technology Company: ExactTarget, Indianapolis -Information Technology Gazelle Company: ChaCha, Carmel -Health & Life Sciences […]
The dreaded bank workout department isn’t what it used to be for marginal borrowers, say two Indianapolis veterans who have watched the industry for decades. Until a couple of years ago, banks still were willing to help struggling companies through tough patches by restructuring loans and offering guidance in finding their way out of the woods. Now, banks are much quicker to cut off borrowers, said Dave Hamernik, a partner in Hamernik LLC. Hamernik, one of the region’s most seasoned…
Carmel-based consulting firm Ginovus LLC-which lost five professionals on May 11 to a new economic development practice started by the Indianapolis law firm Bingham McHale-has bounced back by hiring three people. Richard Rowley, legislative director under former Gov. Joe Kernan, joined as special counsel. Rowley will continue practicing law at Sommer Barnard, the Indianapolis law firm that hosts Ginovus. Jill Beckman was hired as director of operations. Beckman’s background is in accounting, most recently at Butler Uni versity. Denise Settlemyre…
Twenty-one states, including Indiana, are pushing ahead with consumer-protection laws and bond sales to try to minimize the impact of the deepest housing downturn since the Great Depression, according to Bloomberg. Indiana Gov. Mitch Daniels signed a bill designed to offer consulting to homeowners who are in default or in danger of doing so. A […]
Hurco Cos. Inc. today reported profit of $4.7 million for its second fiscal quarter ended April 30 compared to $3.9 million a year earlier. Revenue increased 15 percent, to $42.5 million. The Indianapolis-based maker of interactive computer controls, software and machine tools attributed the upswing partly to rising demand, mostly in Europe.
An $800 million factory now churning out engines for Chrysler, Hyundai and Mitsubishi might have landed in Marion instead of Dundee, Mich., had Marion been able muster more college-educated workers, according to The Chronicle-Tribune of Marion. A Marion economic development official pointed out that the Global Engine Manufacturing Alliance plant, which employs 530, demands at […]
Shopping mall developer Melvin Simon and wife, Bren Simon, have given the Indianapolis Museum of Art $10 million to endow the director and CEO position, the IMA announced today. The donation will be added to IMA’s endowment of $367 million, but interest proceeds will fund salary and professional development expenses for the museum’s head. Though […]
