IU receives $4.8M for global business institute
The grant from a private equity firm will fund MBA and doctoral students working with Latin American companies.
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Homeowners need to re-file for Homestead tax break
The goal of the new law is to reduce tax fraud from Hoosiers who file for the Homestead deduction on more than one residence.
Speedway businessman looks to score with local ABA team
Tim Hicks promises to ask the city for no money while trying to make an ABA professional basketball team flourish in Indianapolis.
The Ben Davis graduate will launch his new team, the Indiana Drive, next fall.
Cummins profit jumps on demand from emerging markets
The Columbus-based engine maker sees sales increase in developing countries such as China, India and Brazil.
Calumet wins $132M federal defense contract
The one-year agreement calls for the Indianapolis-based company to supply aviation fuel to the Defense Energy Support Center
in Virginia.
Celadon reports quarterly profit on higher revenue
The Indianapolis-based trucking company saw profit rise to $400,000 in its third quarter from a $2.1 million loss in the same
period
last year.
Purdue drug maker closing its doors after 5 years
The Purdue Research Foundation says the Chao Center for Industrial Pharmacy and Contract Manufacturing was unable to become
self-sustaining in part because of the recession.
Warfare museum to open in Indianapolis Saturday
The museum will display artifacts and uniforms from all branches of the military from 1910 through Operation Desert Storm
in Iraq. A model of the USS Indianapolis, which was sunk by Japanese torpedoes during World War II, also will be displayed.
UPDATE: GM fuel-efficiency push means jobs in Bedford
General Motors plans to invest $111 million and add 245 new jobs at a plant in Bedford as part of a larger effort to make
its fleet more fuel-efficient.
Prosecutor’s Office missed deadline on $273K in seized OmniSource cash
The Indianapolis Metropolitan Police Department likely will have to return more than $273,000 in cash seized as part of a
racketeering investigation after the Marion County Prosecutor's Office missed a civil forfeiture deadline.
Architect finds new path as real estate struggles
The 25-year-old Prince/Alexander architecture firm is on the path to being acquired by Dallas-based REES Associates, an employee-owned
firm with 120 architects.
General Growth hearing delayed to weigh bids
General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Property Group.
Scaled back renovation project begins at Penn Arts
Renovation work finally has begun on the Penn Arts building at 16th and Pennsylvania streets.
First Internet Bank profitable in first quarter
The Indianapolis-based parent company of First Internet Bank of Indiana said on Monday that it earned $2.2 million in the
first quarter, compared with a loss during the same time frame last year.
Construction
-S&B Construction has been hired to build the 3,000-square-foot Coatesville Community Center in Coatesville.
-S&B Construction has been hired to do a 6,000-square-foot tenant build out for Advance Auto Parts in Avon.
UPDATE: Emmis takeover deal unlikely to hit turbulence
A big Emmis Communications Corp. shareholder believes the $90 million deal CEO Jeff Smulyan unveiled Monday morning to
take the company private is unlikely to get derailed—even though it’s worth far less than a takeover offer Smulyan
failed to get through his board four years ago.
Housing
On a seasonally adjusted basis, the pace of mortgage loan activity increased 13.6 percent for the week ended April 16, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 5.04 percent from 5.17 percent the previous week. The rate for 15-year mortgages decreased to 4.34 percent from 4.45 percent.
Leasing/leasing contracts
-Chemque Inc. renewed its lease for 19,200 square feet at 6101 Guion Road. The tenant was represented by Rick Suja of Summit Realty Group. The landlord, Grand Prix Properties, was represented by Chip Barnes of NAI Olympia Partners.
-Benefit Associates leased 9,355 square feet at 9000 Keystone Crossing. The tenant was represented by Brian Askins of UGL-Equis. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-RBC leased 7,956 square feet at 8888 Keystone Crossing. The tenant was represented by John Vandenbark of CB Richard Ellis. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Thompson Pump Midwest leased 5,765 square feet at 8775 Zionsville Road. The tenant was represented by Steve Schaub of Summit Realty Group. The landlord, Kentucky Avenue Land Company, was represented by John Demaree of Summit.
-APEX Benefits Group leased 4,713 square feet at 8500 Keystone Crossing. The tenant was represented by Dan Richardson of CB Richard Ellis. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Employment Plus leased 3,200 square feet of office space at Two Metroplex, 8383 Craig St. The tenant was represented by Matt Kiger of Halakar Commercial Real Estate. The landlord, Two Metro LLC, was represented by Ted McClure of McClure Real Estate.
-Pulse Creative Partners Inc. leased 2,033 square feet of office space at 427 S. College Ave. The landlord, Deylen Realty Inc., was represented by Sandra Jarvis of IndySQUARED. The tenant represented itself.
Body found floating in river
The Delaware County coroner will perform an autopsy Monday on the body of a woman found floating in the White River in Muncie.
The body of Phyllis Ballantini was discovered by a woman walking along a stretch of the White River Greenway on Saturday.
Investigators think her body had been there for several hours. There were no reported signs of trauma.