Supply-chain squeeze contributes to 2Q loss for Calumet Specialty
The Indianapolis-based manufacturer posted a $78.4 million loss in the second quarter.
Susan Orr
Articles
Pyramid Place shopping center changes hands for $10.6M
Chicago-based Cloverleaf Group now owns three retail plazas in the Indianapolis area. Pyramid Place boasts a high density of nearby homes, offices, industrial sites, health-care facilities and highway traffic.
Carmel-based firm uncovers three separate cases of employee fraud
Maria Caceres, a former employee of Seven Corners Inc., stands accused of defrauding the travel insurer by submitting false claims—the third employee to face such charges within two years in separate cases.
Defendants found guilty on all charges in Banc-Serv fraud trial
The five former directors and employees of the now-defunct Westfield firm were found guilty on fraud and conspiracy charges. Prosecutors say the five submitted false information in order to get more than $10 million in ineligible loans approved by the Small Business Administration.
Citing slow business, Patachou closes downtown’s Napolese restaurant
It first closed in March 2020 at the beginning of the pandemic and didn’t reopen until March of this year, in advance of the NCAA’s men’s basketball tournament, which took place mostly in Indianapolis.
After long delay, Beerded Swine opening in Lockerbie with meat, cheese, libations
Expected to debut by the end of September, The Beerded Swine is intended to be a sister shop to The Savory Swine in downtown Columbus.
Simon raises financial outlook amid improving business conditions
Indianapolis-based Simon Property Group Inc.—the largest owner of shopping malls in the United States—on Monday reported second quarter financial results that exceeded analyst expectations.
Rolls-Royce, Purdue to make ‘major investment’ in Indiana testing facilities
The multimillion-dollar project, in partnership with Purdue University and the Purdue Research Foundation, will expand aircraft engine testing facilities in both West Lafayette and Indianapolis.
Philanthropic world skeptical of proposed federal legislation
A bill introduced last month in the U.S. Senate would add rules about how quickly donor-advised funds must distribute money to charity, but critics say the rules are unnecessary and could have the unintended consequence of hurting charitable giving.
Donor-advised funds are catching on as a tool for personal philanthropy
The number of donor-advised funds in the United States, the amount contributed to these funds and the amount distributed to charity from them have all seen significant growth, with no signs of a slowdown.
Korean barbecue restaurant leaving Fishers Test Kitchen for new location in Castleton
Korave Korean BBQ, which opened at the restaurant accelerator in 2019, plans to exit the nest in September. The brothers who own the restaurant are also eyeing spots for another Indy-area location.
Indy-based startup Pattern89 acquired by Shutterstock in cash deal
Pattern89, founded by R.J. Talyor and launched under the wing of Indianapolis-based venture studio High Alpha, is one of three acquisitions that publicly traded Shutterstock announced Tuesday for a total of $35 million.
After 27 years in Nora strip centers, salon invests $3.3M in new standalone location
To stay in the Nora neighborhood, DL Lowry Salon is taking over the former home of the Indiana Lions eye and tissue transplant bank, which has moved to Carmel.
Fraud trial begins for five former directors, employees at Westfield financial firm
The five defendants in the trial include the two co-founders of now-defunct financial services firm Banc-Serv, plus three former employees.
Purdue, INDOT team up to investigate next-generation vehicle charging
The project focuses on whether wireless charging could be adapted for highway use, allowing electric vehicles to refresh their batteries while they drive along specially equipped stretches of road.
Health department forces Broad Ripple ice cream shop to close
The Marion County Health Department forced the Baskin-Robbins in Broad Ripple to close last week because of a malfunctioning air conditioner. The shop’s owner said he has no plans to reopen.
Sportsman’s Warehouse snares first Indianapolis-area location
The 112-store chain sells gear for hunting, fishing, boating, camping and other outdoor activities. The Indy-area store will be the its second Indiana location.
UPDATE: Kite Realty to acquire Illinois-based REIT for about $2.8B
The combination of Indianapolis-based Kite Realty Group Trust and Oak Brook, Illinois-based Retail Properties of America Inc. will create a company worth $7.5 billion that will continue to operate under the Kite name.
Need assistance finding an open parking space? Indy-based company can help
Eco Parking Technologies helps parking garages fill every space and provides valuable data.
Cummins launches water-access program with $8M commitment
The new program, Cummins Water Works, will focus on improving access to safe water in the U.S., Mexico, Brazil, India and South Africa.