Indianapolis Cultural Trail announces $30 million expansion
The expansion will add two miles to the trail’s existing eight-mile network. It’s the first expansion since the trail opened in 2013.
Susan Orr
Articles
Cummins sees 4Q sales drop, expects bigger revenue decrease this year
The Columbus-based engine-maker said it expects sales to drop another 8% to 12% in 2020, it expects its full-year 2020 revenue to decline between 8% and 12%, mostly because of lower truck production in North America, Europe, China and India
Century-old Diamond Chain downtown plant with 240 employees set for closure
New owner Timken Co. plans to consolidate the local plant’s operations in Illinois. Diamond Chain was founded in 1890 as the Indianapolis Chain & Stamping Co., originally to produce chains for the nation’s fast-growing bicycle industry.
Former Colt Gary Brackett raising money for a movie about his life
The Indianapolis restaurateur, who owns the Stacked Pickle chain, has been working since 2017 to bring his story to the big screen; this month, he launched a crowdfunding campaign to help raise part of the cost.
CEO leaving bankrupt Celadon for new logistics job
Celadon CEO Paul Svindland, who joined the company in 2017 and tried to turn around the troubled trucking company, is departing for a CEO job at another logistics company.
Small retailers gather at east side’s W Street
The repurposed building at Washington and Post formerly housed Liberty Bell Flea Market. Also this week: New Bottleworks tenants, Circle Centre food court departures and more.
Fewer Hoosier firms opting to go public, as allure of mergers, private capital grows
The number of publicly traded Indiana companies has fallen by more than half since 1990.
Veterinary practice growing at greyhound speed
Indianapolis-based Pet Wellness Clinics opened its first clinic in Fishers in 2005. The company became profitable a year later and has been in the black—and growing—ever since.
Former accounting manager accused of using embezzled funds on gambling, gaming
Investigators say the man, who made an initial court appearance Wednesday, embezzled more than $715,000 from an Indianapolis-based company in an elaborate scheme involving at least 151 unauthorized checks.
Recording studio/audio school coming to Broad Ripple
The Round Table Recording Co. will offer both audio recording/production and a school for those who want to learn the business. Also this week: Orangetheory Fitness and Goldfish Swim School.
Celadon selling Andy Warhol prints as part of bankruptcy
The Warhol screen prints, four brightly colored pieces depicting tractor trailer trucks, hung in the trucking company’s corporate offices.
Former Carmel insurance firm employee charged with embezzling $2.1M
Federal investigators say the woman admitted the funds went toward the purchase of a $605,000 home in Anderson, and that she attempted to evade law enforcement when she learned of the investigation.
Former employee pleads guilty in $4.5M Cummins fraud case
Prosecutors say the 54-year-old man diverted more than $4.5 million of money from Cummins and other companies over a nine-year period.
Walgreens bringing new small-store concept to city’s south side
The format is key to the pharmacy chain’s plan to slash expenses. Also this week: Black Acre Brewing Co., Sauce on the Side, Versona, Tropical Smoothie Cafe.
Carmel-based CNO Financial to cut 230 employees in restructuring
The company said it expects to reduce its annual spending by about $22 million by the end of 2020 as a result, investing about half of that savings into various technology and growth initiatives.
UPDATE: SoBro Cafe owner to concentrate on tea business after closing eatery
The restaurant, 653 E. 52nd St., opened just off North College Avenue in November 2011. Its last day of business was Saturday.
Investing experts temper expectations for 2020
Investors couldn’t have asked for much more in 2019, as the decade-long economic expansion rolled on. But don’t expect the same in 2020, analysts warn.
IndyGo transit service for disabled falling short
IndyGo says the vendor it hired to operate its reservation-based transit service for disabled riders isn’t meeting expectations.
Tennessee company seeks to buy 20-acre Celadon site
If other bidders emerge for the property, an auction will be held Jan. 22 at the New York City office of Celadon’s bankruptcy counsel, DLA Piper LLP.
Take 5 Oil Change entering market with three stores
The fast-growing chain’s concept allows customers to stay in their cars. Also this week: Root & Bone, Gavel, People’s Revel Room, Gymboree Play & Music, Portrait Innovations and more.