Chrysler heads back to bankruptcy court today to ask the judge overseeing its case to allow it to terminate the franchise agreements of 789 of its dealerships, despite the protests of many dealers who say the move could close their businesses for good. U.S. Judge Arthur Gonzalez is expected to hear testimony from Chrysler LLC […]
Normal 0 false false false MicrosoftInternetExplorer4 Chrysler heads back to bankruptcy court today to ask the judge overseeing its case to allow it to terminate the franchise agreements of 789 of its dealerships, despite the protests of many dealers who say the move could close their businesses for good. U.S. Judge Arthur Gonzalez is expected […]
The Indianapolis Metropolitan Development Commission this afternoon approved a city plan to partner with a private developer on a $65 million downtown redevelopment project adjacent to the former site of Market Square Arena. The plan, approved by a 7-2 vote, allows the city to enter into a project agreement with the developer, an entity called […]
The U.S. Court of Appeals for the Second Circuit late last night put Chrysler LLC’s bankruptcy sale to Fiat Group on hold in order to hear an appeal by a trio of Indiana state pension and construction funds that object to the deal. The New York City court agreed to hear legal arguments by the […]
General Motors Corp. has a tentative agreement to sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co. of China, a person briefed on the deal said today. GM announced earlier today that it has a memorandum of understanding to sell the brand of rugged SUVs, but the company didn’t disclose the buyer. The […]
A federal bankruptcy judge has approved the sale of most of Chrysler LLC’s assets to Italy’s Fiat, moving the American automaker a step closer to its goal of a quick exit from court protection. But it didn’t take long for a trio of Indiana state pension and construction funds to file an appeal, saying that […]
U.S. construction spending rose 0.8 percent in April, defying economists’ forecasts for a decline. The unexpected gain – the most since August – marked the second straight month that builders boosted spending on construction projects around the country, the Commerce Department reported today. Economists were bracing for a 1.2-percent drop in construction spending for April. […]
Indiana University will lose two of its top Bloomington campus administrators as Richard McKaig and Terry Clapacs retire this summer. McKaig is the campus’ dean of students and will retire July 31 after 38 years at the university. Clapacs is the vice president and chief administration officer and will end his 43 years with IU […]
A federal bankruptcy judge approved the sale of most of Chrysler LLC’s assets to Italy’s Fiat, moving the American automaker a step closer to its goal of a quick exit from court protection. But a trio of Indiana state pension and construction funds filed an appeal, saying that the ruling sets aside the rights of […]
A bankruptcy judge said Friday that he will rule by today on whether Chrysler LLC can go forward with its plan sell most of the company to a group headed by Italy’s Fiat and take a big step toward its goal of a speedy exit from Chapter 11. U.S. Judge Arthur Gonzalez’s ruling will likely […]
With the clock ticking on a June 1 government deadline to restructure, General Motors Corp. worked feverishly yesterday to shore up its global businesses to clear the way for a speedy reorganization in bankruptcy court. GM, part of American life for more than 100 years and once the country’s largest employer, is expected to file […]
Indianapolis already hosts three of the top 200 conventions in the country. But additional meeting space coming online late next year could help the city double the number.
Some industry insiders worry that, while Indianapolis is busy chasing bigger conventions, adjoining counties may raid the cupboard made plentiful by investments within Marion County, particularly downtown.
In this Quick Hits look at a competing convention city, Cincinnati boasts more convention space, but Indianapolis draws more guests.
Indianapolis has built a tidy book of business in the convention trade. Confabs ranging from the National FFA to Gen Con generated nearly 22 million visitors and $3.5 billion in spending in 2006 alone, according to D.K. Shifflet & Associates and Global Insight. With a new airport terminal and Lucas Oil Stadium up and running, […]
The hits keep on coming for the unfinished Binford Medical Complex at 65th Street and Binford Boulevard as the urgent care center that served as the development’s anchor…
Normal 0 false false false MicrosoftInternetExplorer4 Tony George is still the CEO of Indianapolis Motor Speedway. How much longer he holds the title remains unclear. Yesterday afternoon, track officials denied a report that the board of directors voted to oust the 49-year-old CEO and said that George has instead been asked to create a more […]
Normal 0 false false false MicrosoftInternetExplorer4 Raleigh, N.C.-based Stock Building Supply Holdings LLC notified the Indiana Department of Workforce Development yesterday that it will close its Franklin location, leaving 85 employees jobless. The troubled supplier of building materials said the store on North Morton Street should close July 12. The company has 200 locations in […]
By BREE FOWLER AP Auto Writer NEW YORK A U.S. district judge said Tuesday that a legal review of Chrysler’s bankruptcy proceedings isn’t needed before a hearing on the sale of most of the automaker’s assets can take place. Judge Thomas Griesa denied a withdrawal motion from attorneys representing a pair of Indiana state pension […]
Chrysler LLC fired back at Indiana Treasurer Richard Mourdock yesterday, saying his objection to the way the Michigan-based auto maker’s Chapter 11 bankruptcy proceeding is being handled could lead to its liquidation. Mourdock, who oversees pension funds for state teachers, police officers and construction workers, said in a May 20 statement that Chrysler’s plan to […]
