The Carmel-based company plans to separate its Insurance Auto Auctions salvage auction business unit within the next year to create a separate publicly traded company.
Carmel-based KAR Auction Services Inc. on Tuesday afternoon said it plans to spin off its Insurance Auto Auctions salvage auction business unit within the next year. The unit accounted for 34 percent of KAR’s revenue last year.
The Chevy Chase, Maryland-based insurer said it will nearly double the size of its offices at 101 W. 103rd St. with the addition of 104,000 square feet.
The decision came after a five-hour meeting attended by hundreds of people at the Palladium concert hall, including almost 200 attendees who spoke in favor and against the project.
One day after shutting down his upscale southern European eatery in the Mass Ave district, local restaurateur and chef Neal Brown disclosed he was moving on to an even bigger project in partnership with former Angie’s List CEO Bill Oesterle.
The group has been putting on plays at a space in Carmel’s Clay Terrace shopping center for more than eight years, thanks in large part to the largesse of the landlord. Now it needs to find a new home.
Even before news broke that an unidentified health care system had lined up 30 acres at 96th Street and Spring Mill Road for a massive development, projects costing billions of dollars were underway or on the drawing board across the region.
Democrats objected to a proposal approved by an Indiana Senate committee Wednesday that would eliminate fees and make changes to the handgun licensing process.
The project is too big and too important in its potential size, location and services for the public to be in the dark about exactly what will be located on the site—especially as local officials prepare to start debating zoning changes that could make it possible.
A new survey that takes a wide-ranging look of the local tech community reveals an industry that is growing quickly while still facing some economic and social challenges, including concerns about capital and diversity.
At the same time, the Indianapolis-based health system continues to sidestep questions about whether it is involved in a proposal to build a $1 billion hospital complex on a site just three miles from its 86th Street campus.
Hospital systems have been opening urgent-care centers at a fast clip, using the small storefront locations to expand revenue, reduce demand on their emergency rooms, and get patients into their networks.
Neighbors contacted about selling their homes to make way for the development say St. Vincent Health is behind it. But a St. Vincent spokeswoman said the organization does not have “details to share” at this time.
The Carmel-based transportation insurer did not say why the executive left the company. The news comes less than two years after another big shakeup that saw three executive departures.
The Carmel-based company, which specializes in insurance for the transportation industry, reported an estimated tax benefit of $9.6 million in the fourth quarter due to the effects of federal tax reform.
A state Senate bill aims to provide additional alcohol permits to a handful of municipalities, and even a major mixed-use development in downtown Indianapolis.
It will be smaller and sleeker and—if all goes according to plan—might actually make money, rather than ending each year in the red or barely breaking even.
