Houston-based Stewart Title Services Corp. is closing five Indianapolis-area offices and consolidating the work at 20 E. 91st St. Stewart will lay off 15 employees, leaving the office with a total of 19 after the downsizing takes effect July 1, said State Manager Tom Fickle. “It’s just not profitable to keep that many offices open […]
More than 260 workers have accepted early retirements or buyouts at General Motors Corp.’s metal-stamping plant, a GM spokesman said today. That amounts to 24 percent of the work force at the plant west of downtown, leaving 833 employees, said spokesman Fred Cox. The departures are effective July 1. Some new employees are expected to […]
Indiana Farm Bureau Insurance said today it plans pay its policyholders $125 in cash if their personal property was damaged by flooding earlier this month. The gifts are a goodwill gesture, said spokesman Rick Nelson. “Flood insurance is immaterial,” Nelson said. “If the have it, we’re going to give it to them. If they don’t […]
Indiana companies cut back hiring in May, but government added to its rosters – resulting in virtually no net gain in employment, according to new figures from the Indiana Department of Workforce Development. The 2.98 million jobs was a decline of 1,300 from April, and 1 percent below levels of a year earlier. The figures […]
The chairman and CEO of unprofitable Chromcraft Revington Inc. will resign at the end of the month, the West Lafayette-based furniture maker announced late yesterday. Benjamin Anderson-Ray and the company arrived at the decision together, Chromcraft said. “At this time it is appropriate for me to step out of the leadership of the company to […]
Three outpatient magnetic resonance imaging centers in Indianapolis have been sold by their Atlanta-based owner, American Health Imaging Inc., to the Minneapolis-based Center for Diagnostic Imaging. The price was not disclosed. The centers were called Indianapolis Health Imaging. American Health Imaging is exiting Indianapolis as well as Ohio as it grapples with a challenging business […]
Bill Corley, who announced today that he will retire after 25 years as CEO of Community Health Network, says doctors nearly ran him out of the hospital within months of his arrival in 1984. Doctors mutinied because they tied Corley’s appearance to a new approach by the federal government to limit reimbursements for certain services. […]
Expect the state economy in coming months to feel like a head cold that won’t go away. And the Indianapolis area won’t escape the doldrums. That’s the take from the latest quarterly forecast issued by a group of Indiana University economists. The Center for Econometric Model Research says the state will suffer declining employment and […]
Sign Craft Industries, a full-service sign-making company headquartered in Indianapolis, has acquired cross-town sign maker Sign Studio for an undisclosed price, the companies announced today. Sign Studio specializes in electric signs. The acquisition will raise Sign Craft revenue to a projected $6 million this year. It was 4th on IBJ’s 2007 list of the largest […]
An advertising blitz launched by Shelbyville officials to lure workers arriving at the Honda Manufacturing of Indiana plant in nearby Greensburg is working, one of its backers says. Dan Theobald, executive director of Shelby County Development Corp., is aware of at least seven families that have settled in Shelbyville as a result of the campaign, […]
Handleman Co. plans to close the music portion of its warehouse near 56th Street and Georgetown Road, the Troy, Mich., company said this week. A notice filed with the state said 248 workers would lose their jobs. The last day for managers will be Aug. 29. CEO Al Koch said the warehouse at 5445 Guion […]
Baker & Daniels, one of Indianapolis’ three largest law firms, has finally opened a Chicago office, years after its local rivals did so. Chicago is known as one of the most difficult markets in the nation to break into. Baker & Daniels announced this week that it lured seven lawyers from the midsize Chicago firm […]
HHGregg Inc. said today that a 24-percent increase in net profit in its fourth fiscal quarter was driven by rising sales of big flat-screen televisions, high-end washing machines and refrigerators, and notebook computers. The Indianapolis-based appliance and electronics retailer reported a $10.3 million profit in the quarter ended March 31 on sales of $324.2 million, […]
The sluggish economy has prompted businesses to pull back on hiring, but units of local government keep adding workers as if nothing has changed. In the Indianapolis area in April, local governments employed 2,200 more workers than the same month last year, according to the Indiana Department of Workforce Development. The growth to 79,100 workers […]
Drivers are still wincing from their brush with $4 gas this month, but some station operators already are getting ready in case prices rise to $5 per gallon. A company that makes gas station signs has begun to field orders for plastic signs with the number “5” printed on them. Operators, who just months ago […]
The earthquake that devastated so much of southwestern China this month hit close to home for Baker & Daniels attorney Calvin Ding. Ding, who focuses on international law, has a 9-year-old cousin who was in a school leveled by the 8.0-magnitude quake. The school was in Dujiangyan, a city near the epicenter in Sichuan province. […]
Shares in Duke Realty Corp. slipped 5 cents, to $25.45, this morning after a Credit Suisse analyst downgraded the stock to “underperform” from “neutral.” Analyst Steve Benyik said the Indianapolis real estate investment trust faces “significant challenges” to lease its rental buildings. Duke also will struggle to contain general and administrative costs as development activity […]
Columbus, one of the first cities in the state to welcome Japanese investment in the 1980s, is taking an early role in drawing investment from China. Chinese investment in the southern Indiana city is miniscule so far compared to the factories built there by forklift manufacturer Toyota Industries Corp. and other Japanese companies. But the […]
Hammond Kennedy Whitney & Co. has bought a controlling interest in Airworx Construction Equipment and Supply LLC, an Indianapolis company that rents and sells aerial lift equipment, for an undisclosed price. Selling the stake in the 12-year-old company was Source Capital of Atlanta. Airworx has about 50 employees in Indianapolis and the northern Indiana town […]
In his second month as president of Eli Lilly and Co., John Lechleiter has ordered a reorganization to streamline the Indianapolis pharmaceutical maker. The changes will eliminate management layers and clarify roles and responsibilities in order to speed decision-making, Lechleiter said in a statement. Lilly spokesman Phil Belt the reorganization will result in few, if […]
