Three of the four principals in Page Development were in court June 8 to sift through the fallout from a $1.35 million judgment
against them. It’s only the tip of Page Development’s financial straits.
The upholstered-furniture maker, which operates as Y.K. Furniture, plans to invest $24.3 million to establish its first U.S.
subsidiary. The facility will house assembly-and-distribution operations with about 100 employees.
Marco Dominguez turns to WNTS-AM 1590 after the Hispanic daily television news program he launched last year folded.
News from the Center for the Performing Arts…and some of its soon-to-be resident companies.
Restoration project, slated to last nearly a year, will redesign vendor stand facades, improve lighting and introduce a regular
schedule of live entertainment at the historic venue.
Three local microbreweries—Triton Brewing Co., Bier Brewery & Taproom and Flat 12 Bierwerks—are planning
to open in the next few months in a rush inspired in part by the runaway success of homegrown Sun King Brewing Co.
A not-for-profit group has found a new use for an historic former elementary school on the near east side. The former Lucretia
Mott School No. 3, at 23 N. Rural St., is set to become a mixed-income apartment community.
Dusting off the original plans to extend the highway from I-465 to downtown would ease congestion. But, oh, the downsides.
A 16-acre wood nestled against the White River and surrounded by the Keystone at the Crossing shopping center will become
a public nature preserve.
Some have suggested moving it west, through less-populated Morgan County, to tie into Interstate 70 near Indianapolis International
Airport.
The firm was a pioneer in the energy savings niche more than a decade before green became cool or was perceived to be a viable
market.
Work is to start next year on upgrading the highway through Carmel and Westfield to interstate standards in phases through
2017.
The Interstate 69 extension between Evansville and Bloomington is on budget and should open years ahead of schedule in 2014,
Gov. Mitch Daniels said Wednesday.
Warren Buffett’s Berkshire Hathaway Inc. sold off its entire stake of WellPoint Inc. stock in the
first quarter, the firm reported Monday. Buffett’s firm owned more than 1.3 million shares of WellPoint—an Indianapolis-based
health insurer that has more than 432 million shares outstanding. His firm also disposed of its stake of nearly 1.2 million
shares in Minnesota-based UnitedHealth Group, another large health insurer. Berkshire Hathaway first invested in WellPoint
in the first quarter of 2007, spending nearly $80 million to acquire nearly 1 million shares. In the three years since, WellPoint
shares have lost 36 percent of their value. The company’s shares closed Monday at $53.52 apiece.
U.S. Health and Human Services Secretary Kethleen Sebelius came to Indianapolis Friday to award the Indiana University
School of Medicine an $8.5 million federal grant to renovate a former research floor at Riley Hospital for Children.
The renovations, which are set to be completed in 2012, will enable the hospital to conduct pediatric clinical research trials
by adding 18,500 square feet of bio-storage and laboratory space. “Most drugs and diagnostics are tested in adults—but
children aren’t just little adults,” said Dr. Craig Brater, dean of the IU School of Medicine. The federal grant
is one of 146 American Recovery and Reinvestment Act construction awards, totaling $1 billion, given to build, repair and
renovate scientific research labs and related facilities nationwide.
Bioanalytical Systems Inc. narrowed its losses in its second quarter even though it suffered a 2-percent
drop in revenue. The West Lafayette-based contract research firm reported a $1.2 million loss in the period ended March 31,
compared with a $1.8 million loss reported for the same period last year. Revenue was down $200,000, to $6.9 million. Nearly
half of the loss came from $520,000 in expenses from staff reductions. Bioanalytical recently named Anthony S. Chilton as
president and CEO following the retirement of top executive Richard M. Shepperd earlier this year. Chilton, 53, had been Bioanalytical’s
chief operating officer since 2008.
Construction could begin as early as June 1 on a $225 million hospital in northern Indiana after the Porter County Plan Commission
approved the building plans, the Associated Press reported. Community Health Systems plans to build the five-story,
250-bed hospital at U.S. 6 and State Road 49. Porter hospital officials in Valparaiso say the last step to be completed is
an archaeological and bat survey.
INDOT plans to put a traffic signal on a well-known west-side shortcut from Interstate 465 southbound to I-70 East, a move
stemming from the rebuilding of Sam Jones Expressway.
-Duran Property Group purchased 1.5 acres at the southwest corner of State Road 44 and Progress Parkway in Shelbyville Marketplace, a mixed-use development in Shelbyville. The price wasn’t disclosed. Duran, owned by Dr. Dan Duran, plans to start construction this spring on a 14,000-square-foot building on the site. It will house Duran’s chiropractic business and other tenants. The seller, Progress Parkway LLC, was represented by Thompson Thrift, which will be the exclusive leasing agent for the building. The buyer represented itself in the transaction.
-Aaron’s Rents purchased a .98-acre outlot near the southwest corner of State Road 44 and Progress Parkway in Shelbyville Marketplace, a mixed-use development in Shelbyville. The price wasn’t disclosed. The buyer was represented by Chris Hake of Thompson Thrift. The seller, Progress Parkway LLC, was represented by O.J. Stocker of Thompson Thrift.
Indiana University is showing signs that it’s finally serious about translating research into commercial product, through
grants it is awarding via its $10 million Innovate Indiana Fund and by developing a computing technology mini-campus.
Two of the principal obligations of government are that it should be accountable to its citizens, and that it should operate
at a reasonable level of efficiency.
The Nebraska-based outdoor retailer plans to open new stores again after a two-year, recession-induced halt on expansion.
But the company is not reviving its plan for the 96-acre plot it owns in Greenwood.
Work could begin this fall on $10 million Trail Side complex.
