Prices of an alternative fuel that’s had patriotic and environmental appeal–but not an economic one for motorists–have been
flirting this month with gasoline on an energy-equivalent cost basis. The sudden but often fleeting price appeal of fuel “E85,”
a blend of ethanol with a dash of gasoline, is due largely to gas prices soaring to nearly $4 a gallon.
Event-planning software developed by a local firm has been the backbone of volunteer efforts for the Men’s Final Four, the Indianapolis 500 Festival and the USA Track & Field Championships. Now it will add a Super Bowl to its resume. The Tampa Bay Super Bowl Host Committee, which is staging the 2009 NFL championship, will use Indianapolisbased Simply Hospitality’s TRS software to recruit and coordinate the 6,000 volunteers it expects to use for the big game. Officials looked at eight…
Troubles for Carlyle Capital Corp. Ltd., a unit of Carlyle Group, a Washington D.C.-based private equity group, have worsened after it said it can’t meet demands of more than $400 million in margin calls from lenders, according to Bloomberg. The fund had defaulted on about $16.6 billion of debt as of yesterday and expects additional […]
On the same day this month when high school boys’ basketball teams compete to advance to the state finals, another event showcasing the talents of Indiana’s youth should be just as climactic. Only this contest emphasizes academics over athletics. The three-day Boilermaker Regional at Purdue University that culminates March 15 will host roughly 40 high school robotics programs, including 26 schools from Indiana. Students will apply their engineering and computer programming skills to design and build task-performing machines. The winning…
Carlyle Capital Corp. Ltd., a unit of Carlyle Group, a Washington D.C.-based private equity group, did not meet banks’ margin calls on its $21.7 billion portfolio, according to several news services. Last fall, Carlyle Capital bought Allison Transmission in Indianapolis from General Motors Corp. for $5.6 billion. Carlyle Capital has received several notices from banks […]
Not all news is bad for retail. A few stores are planning their first Indianapolis locations, while others are expanding. By popular demand, here’s the Around Town Retail Roundup:
Zumiez, an action-sports retailer, has…
The park is expected to be a major amenity for the area’s growing biomedical economic development efforts. Purdue Research Foundation paid $2.5 million in June to purchase a half-interest in 78 acres at AmeriPlex industrial park. The university ultimately anticipates filling it with as many as 75 businesses and 1,500 jobs. AmeriPlex owner Holladay Properties, a South Bend developer of industrial parks, owns the other half of the site. Dubbed Purdue Accelerator Park at AmeriPlex-Indianapolis, the project is intended to…
The Indianapolis area didn’t experience a monster-size business transaction in 2007 like it has in recent years, but that doesn’t mean the deal-makers weren’t busy. IBJ’s annual list of Big Deals tracked more large business transactions involving Indianapolis-area companies than ever before in 2007, even though the total dollar amount of the deals was dramatically lower than the previous year’s. Deals compiled by the Indianapolis Business Journal that closed in 2007 totaled $23.4 billion, well below the $38.5 billion posted…
A unit of Citizens Gas proposes building a natural-gas-fueled steam plant in Speedway to serve large employers in the town
of 12,800.
Christopher P. White is arguably the city’s most daring real estate developer. But an IBJ review of hundreds of pages of public
records shows White and his Premier Properties USA Inc. are facing major financial and legal challenges.
Six finalists have pitched their visions for public art projects as part of the Arts Council of Indianapolis’ second “Great Ideas” competition, aiming to inspire and educate area residents-and encourage them to slow down and contemplate life. The contest kicked off in 2005, when two artists each got $40,000 in funding from the Indianapolis Cultural Development Commission. This year, a seven-person panel will weigh the proposals and select two winners, each of whom gets a $3,000 stipend and $15,000 to…
PROFILE MICKI STIRSMAN Education at heart of growth Continued training is part of her biz plan Your face might be Micki Stirsman’s canvas. Instead of applying paint to paper or molding clay into sculpture Stirsman and her staff use their artistry to transform their clients’ appearances. The Speedway native is owner of Salon 01, a business she started with a $10,000 contribution from her grandmother that has grown into a million d o l l a r- p l u…
The Indianapolis-based parent of the Ritter’s Frozen Custard brand has been stuck in a cold streak lately, facing scores of
new ice-cream competitors and a dwindling lineup of franchisees. But RFC Franchising LLC is planning big changes designed
to firm up the home-grown chain, which now has 48 stores in nine states, down from more than 60 locations in 2005.
It seems like everyone is an expert at something. We have automobile experts, stock market experts, antique experts… my company even has a client who’s a sheep and goat expert. In an I n t e r n e t – c e n t r i c world, though, these experts can find themselves in a tough place. Online, information is clamoring to be free (or pretty cheap) and readily available. It’s no longer enough to declare yourself an…
Southport shakeup. Big changes are underway at Southport and Gray roads on the south side. An LA Fitness, the city’s third, is under construction on 4.5 acres west of Gray Road. The…
Whether it’s southbound I-69 traffic backed up almost to Noblesville, or northbound I-465 traffic a parking lot all the way
to 56th Street, the northeast highway system is grossly inadequate at peak hours. But a report issued last month by an INDOT
consultant shows a radical, $600 million reconfiguration is in the works.
General Motors Corp.’s stamping plant in Indianapolis would be allowed to close or be sold under the tentative contract with the United Auto Workers, according to a detailed copy of the agreement. According to the detailed document, called the “white book,” work at the Indianapolis stamping operation will continue or be reallocated to another GM […]
The United Auto Workers has launched a national strike against General Motors Corp., GM spokesman Dan Flores said today. It’s the first nationwide strike during auto contract negotiations since 1976, when Ford Motor Co. plants were shut down. Workers walked off the job and began picketing today outside GM plants after the 11 a.m. UAW […]
The federal government has canceled a contract with a Missouri developer chosen to build a new FBI field office in Castleton. The U.S. General Services Administration awarded the $38-million contract to Kansas City-based BC Development Co. on March 23, but the company failed to obtain control of the 12-acre property in time to meet a […]
General Motors Corp. said today it has completed its $5.6 billion sale of Allison Transmission to Carlyle Group, based in Washington, D.C., and Onex, of Toronto. Allison employs about 3,400 in Indianapolis. Observers have said the equity firms’ ownership likely would benefit the Indianapolis operation because Carlyle has deep military and government connections that could […]
