A booming business collecting overdue student loans has prompted Premiere Credit of North America to launch an expansion of its Indianapolis headquarters that will add 300 workers. The expansion will more than double Premiere’s work force, according to the Indiana Economic Development Corp. Premier will spend more than $4 million on the expansion at its […]
An auction yesterday of 9,422 acres of wooded property in southern Indiana owned by Kimball International Inc. was peppered with bidders who snapped up small tracts for recreational purposes. The company’s auction raised $15.6 million. Seventy-two buyers paid an average of $1,654 per acre for tracts that averaged 130 acres each, according to auctioneer Woltz […]
HHGregg Inc. reported today that same-store sales fell in its second fiscal quarter, and that profit missed analyst expectations. The Indianapolis-based appliance and electronics retailer said sales in stores open at least a year slumped 8.8 percent during the period ended Sept. 30. Earnings per share of 10 cents fell short of the 12 cents […]
Anita Harden, a 34-year veteran of Community Hospitals of Indiana and president of Community Hospital East since April 2004, is taking early retirement as of Nov. 26, the hospital announced to employees yesterday. Harden, 61, is the third executive to announce a departure in recent months. Longtime CEO Bill Corley said in June that he […]
Troubled electronics retailer Circuit City Stores Inc. said today it will close its store near Washington Square Mall on the east side as part of a plan to shutter 155 locations nationwide and return to financial health. Also slated for closing are locations in Lafayette and South Bend, and one in the southern Indiana town […]
A “turbulent economy” that’s causing the radio industry to struggle has prompted Emmis Communications Corp. to lay off 4 percent of its workers in the sector. The downsizing amounts to 29 full-time workers and 6 part-time employees, the Indianapolis company announced this morning. Emmis also said it snipped 3 percent from salaries of radio and […]
Simon Property Group today reported a 10.8-percent increase in third-quarter funds from operations. Funds rose to $463.9 million, or $1.61 per share – 4 cents per share more than expected by analysts surveyed by Thomson Financial. Mall occupancy dipped slightly. However, the company pushed up rents at a time when retailers are suffering and expecting […]
The ethanol producer that planned to build a plant in Reynolds, the town where Gov. Mitch Daniels is attempting to showcase energy independence, has filed for Chapter 11 bankruptcy protection. VeraSun Energy Corp. announced yesterday that it and 24 of its subsidiaries filed the voluntary petition yesterday in U.S. Bankruptcy Court in Delaware. The Sioux […]
A company closely tied to Angie’s List anticipates doubling its property holdings just east of downtown in the next five years, according to Bill Oesterle, CEO of the growing service that rates plumbers and other services. By then, Henry Amalgamated LLC will have succeeded in revitalizing the once-blighted Whiskey Hill neighborhood into a mix of […]
Lafayette-based truck trailer maker Wabash National Corp. reported a third-quarter loss of $4.3 million late yesterday after having turned a $3.8 million profit a year earlier. The 14 cents per share in red ink matched expectations of analysts surveyed by Thomson Financial. President Dick Giromini said material costs outpaced progress made in cutting other costs […]
Duke Realty Corp. generated 66 cents per share in funds from operations in the third quarter, a decline of two pennies from the same period last year, the Indianapolis real estate company reported late yesterday. Funds from operations are a common measure of financial performance for real estate investment trusts like Duke. Analysts surveyed by […]
An Indianapolis company that specializes in printing, packaging and dimensional mail has bought a cross-town direct-mail firm to broaden its services. The printer, Vista Graphic Communications LLC, announced yesterday that it has acquired Centennial Press-Printing and Mail for an undisclosed price. The deal becomes effective Oct. 31. Vista founder and President Tim Rolfsen said Centennial’s […]
More than three weeks after Bright House Networks stopped carrying television signals of three Indianapolis television stations over its cable network, Bright House and the stations’ owner have reached an agreement to restore the service. Lin TV Corp., the Providence, R.I., owner of WISH-TV Channel 8, WNDY-TV Channel 23 and WIIH-TV Channel 17, said the […]
Executives of Ace Holding Co. LLC didn’t foresee the financial storm that caused the company to shut down late last week. In an interview with IBJ 18 months ago, CEO Richard Hall said the company had originated more than $3 billion in loans in 2006, and he projected business to be up at least 30 […]
A surge in orders for the fuel systems it manufactures resulted in Franklin Electric Co. Inc. reporting a 48-percent increase in third-quarter profit late yesterday. The record $17.3 million in net income was driven by sales rising by nearly a third from the same period last year, the Bluffton company said. Franklin Electric’s 74 cents […]
Getrag won’t exactly have a white elephant on its hands if the German company is unable to make transmissions in its partially completed plant at Tipton. The 900,000-square-foot plant might work well for another auto supplier or even another use outside of manufacturing, experts say. Getrag’s plans to build a fuel-efficient dual-clutch transmission for Chrysler […]
First Internet Bancorp today reported a 30-percent drop in third-quarter profit, to $461,867, as borrowers struggled to pay back their loans. The $461,867 returns the parent of First Internet Bank to 2006 levels after it enjoyed a strong 2007. The bank also said today that it nearly doubled its provision for loan losses in the […]
Third-quarter profit plummeted nearly 70 percent for Interactive Intelligence Inc., the Indianapolis developer of automated help desk software reported late yesterday. The $924,000 in net income amounted to 5 cents a share. Excluding charges for stock-based compensation, profit came to 11 cents a share, down from 19 cents in the same period last year. Analysts […]
Sales of existing houses in the 13-county Indianapolis area increased in September, the first year-over-year increase since May 2007, the Metropolitan Indianapolis Board of Realtors said yesterday. Not that the increase amounted to much – 1 percent, to 2,232 units, compared to the same month a year ago. But the uptick was a psychological boost […]
Evansville-based Old National Bancorp today reported $17 million in third-quarter profit. The 26 cents per share was 25 percent less than a year earlier and a penny less than expected by analysts surveyed by Thomson Reuters. The parent of Old National Bank also lowered its full-year guidance to $1.10 to $1.15 per share from its […]
