Duke Energy Co. plans to triple the electricity it can deliver to River Ridge Commerce Center, the business park carved from the former Indiana Army Ammunition Plant near Clarksville. The $700,000 upgrade will create total capacity equivalent to powering 3,000 homes, according to The Courier-Journal of Louisville. The utility expects the new southern Indiana park […]
Sommer Barnard attorney Jonathan Polak has won a partial victory in the lawsuit he orchestrated against O.J. Simpson on behalf of the family of Ronald Goldman. A judge in Los Angeles yesterday ordered that Simpson pay the family earnings he made from making television commercials and such movies as Naked Gun and No Place to […]
Financial markets are reacting positively to Brightpoint Inc.’s announcement early this morning that it will buy Dangaard Telecom of Padbord, Denmark, in a $308 million stock deal. Shares of the Plainfield cell phone distributor traded at $11.36 late this morning, up $1.08, or 10.5 percent, from last night’s $10.28 close. Bill Choi, managing director of […]
Seizo Okamoto, the manager who opened the Toyota Motor Corp. assembly plant in the southwestern town of Princeton in 1998, has been reassigned to Erlanger, Ky., as executive technical adviser for Toyota Motor Engineering and Manufacturing North America. At the Kentucky location, Okamoto will work with the Japanese company’s new Camry line at Subaru of […]
Brightpoint Inc. has agreed to purchase the largest wireless phone distributor in Europe for $308 million in stock—a deal that balloons the Plainfield company’s annual revenue from $2.5 billion to $4.6 billion. "It’s one of those once-in-a-lifetime deals," said Brightpoint CEO Robert Laikin. "It’s not often you get an opportunity like this." Brightpoint, the biggest […]
Farmland prices are rising so fast globally that hedge funds and investment brokers are buying into the traditionally pokey investment, according to Bloomberg. U.S. farmland rose an average of 15 percent in 2006, Bloomberg reported, citing government figures. The soaring prices are mostly driven by rising demand for corn from ethanol fuel distillers, but also […]
Farmland prices are rising so fast globally that hedge funds and investment brokers are buying into the traditionally pokey investment, according to Bloomberg. U.S. farmland rose an average of 15 percent in 2006, Bloomberg reported, citing government figures. The soaring prices are mostly driven by rising demand for corn from ethanol fuel distillers, but also […]
Farmland prices are rising so fast globally that hedge funds and investment brokers are buying into the traditionally pokey investment, according to Bloomberg. U.S. farmland rose an average of 15 percent in 2006, Bloomberg reported, citing government figures. The soaring prices are mostly driven by rising demand for corn from ethanol fuel distillers, but also […]
1st Source Corp. of South Bend has agreed to buy FINA Bancorp, the parent of First National Bank, Valparaiso, for $135 million in cash and stock. Both boards have approved the deal. 1st Source, which has $3.8 billion in assets and 67 branches in Indiana and Michigan, said it wants the northwest Indiana bank to […]
A new contract ratified by General Drivers, Warehousemen & Helpers Local 89 at Jeffboat LLC calls for an average wage increase of 11 percent over three years. About 95 percent of 900 eligible Teamsters members voted in favor of the contract, according to Jeffboat parent American Commercial Lines Inc. The Ohio River shipyard, located in […]
Indianapolis Motor Speedway has hired Hardcard Holdings, a consulting firm specializing in motorcycle races, the speedway said today. “The Speedway has been looking at hosting a motorcycle event for some time, and we continue to be enthusiastic about the prospects,” IMS President Joie Chitwood said in a statement. “Hardcard will advise and consult with the […]
The city is restarting efforts to find a company to redevelop the former site of Market Square Arena, which has languished as a parking lot since the city tore down the arena almost six years ago. A new request for proposals likely will go out Wednesday. This time around, developers will need to propose […]
Tomasco Indiana LLC is spending $20 million to expand its Winchester auto parts plant to supply the Honda Motor Co. assembly plant under construction at Greensburg, the company said today. The Winchester plant will grow to 305 jobs from 180, and add 122,000 square feet to the existing 202,000 square feet. It stamps, welds and […]
Snow storms will crimp sales for Gregg Appliances Inc. in its fourth fiscal quarter, the Indianapolis-based electronics and appliance retailer disclosed in a regulatory filing last week. Percentage gains in same-store sales will rise only “mid-single digits” instead of the mid- to-high single digits Gregg forecast when it reported third-quarter sales ended Dec. 31. The […]
Wal-Mart Stores Inc. said this morning that it will build a 176,000-square-foot Supercenter immediately south of the abandoned Builders Square store at 46th Street and Lafayette Road. The new store will employ 300 when it opens in early 2008. The store is smaller than the 203,000 square feet anticipated by the city when it announced […]
Veteran television journalist Kevin Finch has been promoted to news director from assistant news director of WISH-TV Channel 8, IBJ ’s newsgathering partner. In his new position, Finch will oversee news operations. Earlier, he planned and produced long-term news coverage at WTHR-TV Channel 13.
Eli Lilly and Co. has contracted with four companies to distribute its new line of drugs for dogs and cats. The companies include Butler Animal Health Supply of Dublin, Ohio; MWI Veterinary Supply of Nampa, Idaho; Professional Veterinary Products Ltd., of Omaha, Neb.; and Webster Veterinary Supply Inc., of Sterling, Mass. Indianapolis-based Lilly also said […]
The computer search engine that helps the Indiana Department of Workforce Development match unemployed people with jobs offers only a small portion of the jobs listed on CareerBuilder, Monster and other Web sites, according to the Post-Tribune of Merrillville. The CS3 search engine used by WorkOne is so obsolete that one former state worker estimated […]
Orange County’s unemployment rate has fallen a full percentage point—to 6.4 percent—since French Lick Resort Casino opened in the southern Indiana community of French Lick in November. Also, the turnover rate for the 1,520 workers has ranged between 23 and 25 percent, lower than for some casino openings, according to the Times-Mail of Bedford. Casino […]
Hurco Companies Inc. said profit in its first fiscal quarter exploded 78 percent due to strong sales in Europe. The Indianapolis machine tool maker said the $5.4 million in earnings in the period ended Jan. 1 also was driven by selling higher-priced machines. The increase came despite softening sales in North America and Asia.
