Local manufacturing stalwart Allison Transmission will have to restructure its more than $4 billion in debt or further cut expenses if it’s going to weather the recession. That’s the conclusion of analysts at Moody’s and Standard and Poor’s, which have issued negative outlooks for Allison, the top commercial truck-transmission supplier. “The downgrades reflect our concern […]
What Blue-Lock does is complicated:It provides what is known as “virtual cloud computing.” So when Vice President Brian Wolff explains the concept, he simplifies it-by using Legos. He puts down one block to represent a computer server. “In the old world,” he says, “you’d put a physical server in place and then you would load […]
By 2007, the technology for electric cars had evolved such that banker Steve Tolen had formed a company to build and sell one using off-the-shelf parts. Or so he thought. He couldn’t find a power control system that could handle the mix of different battery types he wanted for his electric car. Without that mix, […]
The future of Carmel’s Merchants Square mall is uncertain because of the rise of competitors.
Benefits brokers and agents—facing increasing demands from employers and declining commissions—are merging at an
accelerating
pace.
After a stint making parts for electric cars, Symphony Motors recently became Indy Power Systems, changing course to make power control boxes for a variety of vehicles and also industrial and military applications.
Local manufacturing stalwart Allison Transmission will have to restructure its more than $4 billion in debt or further cut
expenses if it’s going to weather the recession.
A new generation of company leadership is revving the Gene B. Glick Co. and building and buying apartment complexes again.
About two dozen franchises based in Indiana are not immune to difficulties during the recession.
LOAN APPROVALS SBA loans SBA loan guarantees for the month of February. These businesses have received loans from financial institutions with a guarantee from the SBA. Not all funds are disbursed immediately. Furthermore, some approved loans are subsequently canceled. Berman Endodontics LLC, 16407 Southpark Drive, Westfield, $25,000 from The Huntington National Bank. Creative Roots Design […]
BlueLock provides IT infrastructureâ??or serversâ??to companies for loading software applications, and the startup is growing at a fast rate.
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Benefits brokers and agents-facing increasing demands from employers and declining commissions-are merging at an accelerating pace. In less than two years, 10 Indiana firms have been swallowed up. The trend started slowly in 2007 but picked up speed late in 2008 and has continued into 2009. In March alone, Indianapolis brokers Benefit Associates Inc. and […]
Conseco Inc. has won an amendment to its bank loans that gives it more breathing room to operate. But the Carmel-based insurance holding company will pay for it. The cash interest rate Conseco is paying on the $912 million in loans will rise from 2.6 percent to at least 6.5 percent, with a payment equal […]
Conseco Inc. has won an amendment to its bank loans that gives it more breathing room to operate. But the Carmel-based insurance holding company will pay for it. The cash interest rate Conseco is paying on the $912 million in loans will rise from 2.6 percent to at least 6.5 percent, with a payment equal […]
Conseco Inc. avoided a warning about its ability to stay in business from its auditor, the company reported today. PricewaterhouseCoopers will not issue a “going concern” warning in Conseco’s annual report, Conseco CEO Jim Prieur said in a statement. The report will be filed later today. Prieur’s statement came after the Carmel-based insurer announced this […]
Marsh Supermarkets Inc. has sued its former CEO, Don E. Marsh, alleging he treated the company like “a personal checkbook” to bankroll extravagant trips, maintain vacation homes and hide personal relationships with female employees. The company claims Marsh shredded documents before he left the company in 2006 to hide his “inappropriate activities” – including personal […]
Marsh Supermarkets Inc. has sued its former CEO, Don E. Marsh, alleging he treated the company like “a personal checkbook” to bankroll extravagant trips, maintain vacation homes and hide personal relationships with female employees.
Columbus-based Irwin Financial Corp. said this morning that auditors have raised doubt about the bank’s ability to remain in business while it restructures operations. The company, which operates Irwin Union banking branches in Indianapolis, Carmel, Avon, Franklin and Shelbyville, said it lost $104 million, or $3.54 per diluted share, in the fourth quarter and $340 […]
Conseco Inc. shares continue to recover now that the company has cleared away the biggest clouds hanging over it. Shares of the Carmel-based life insurer rose another 12 percent in morning trading after surging 35 percent yesterday. They traded at $1.03 late this morning. Investors have bid up the shares after Conseco renegotiated $912 million […]
Columbus-based Irwin Financial Corp. said this morning that auditors have raised doubt about the bank’s ability to remain in business while it restructures operations. The company, which operates Irwin Union banking branches in Indianapolis, Carmel, Avon, Franklin and Shelbyville, said it lost $104 million, or $3.54 per diluted share, in the fourth quarter and $340 […]
