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General Motors Corp. today posted a $6 billion first quarter loss and said it spent $10.2 billion more cash than it took in during the first three months of the year as revenue plummeted by $20 billion. Chief Financial Officer Ray Young said talk of the company going into Chapter 11 bankruptcy protection appeared to […]
The Indiana University men’s basketball team could face more penalties from the NCAA due to poor Academic Progress Rate scores. IU’s score ranked 325 out of 341 Division I men’s basketball programs. The program could lose practice time and scholarships if it falls below a minimum score in the next three years. This is just […]
One of the city’s largest hotels has been acquired and could be in for a major brand change. The Adam’s Mark Hotel Indianapolis, the area’s sixth-largest hotel, was purchased in April by Scranton, Pa.-based Nexus Hospitality Management, hotel officials announced yesterday. San Francisco-based Chartres Lodging Group LLC sold the 407-room hotel, located near the airport […]
Shopping mall giant Simon Property Group Inc. plans to sell another 20 million shares of common stock to raise money for “general corporate purposes” in a new attempt to shore up its balance sheet. The company had announced it was selling 14 million shares yesterday, but increased the number this morning. The Indianapolis-based real estate […]
A police officer was injured on the northwest side early this morning while trying to assist in a chase that started at 38th Street and Gemco Lane. But an SUV T-boned the police cruiser at 38th Street and Lafayette Road, causing the SUV to flip upside down. Its driver was treated and released from a […]
Central Indiana’s only Saab new-car franchise has closed its stores in Fishers and Indianapolis. Saab dealer Bob Falcone, however, has acquired the former Duke Gold Speedway Volkswagen Subaru dealership at 1930 W. 16th St. in Indianapolis, which will also service Saab cars. The VW-Subaru dealership closed abruptly last November after Gold’s death. Falcone closed Indy […]
An auction has been set to sell nine remaining waterfront condos in a bank-owned development on Morse Lake in Cicero. The project, One Waterfront Plaza,…
Normal 0 false false false MicrosoftInternetExplorer4 Shopping mall giant Simon Property Group Inc. plans to sell another 20 million shares of common stock to raise money for “general corporate purposes” in a new attempt to shore up its balance sheet. The company had announced it was selling 14 million shares yesterday, but increased the […]
Former Indiana Pacers executive David Kahn has surfaced as the leading candidate to replace Kevin McHale as Minnesota Timberwolves general manager. Former Pacers player Fred Hoiberg is being considered for a vice president…
Kimball International Inc. turned a profit in its fiscal third quarter after reaping proceeds from the sale of undeveloped land, reversing a loss experienced a year earlier. The Jasper-based furniture and electronics manufacturer today reported profit of $4.1 million, or 11 cents per share, for the period ended March 31, compared to a loss of […]
Cummins Inc. announced today that it will temporarily close its Columbus MidRange Engine Plant for a month or longer and idle at least 610 workers as a result of Chrysler LLC’s bankruptcy reorganization. The plant in Walesboro, just south of Columbus, is the sole manufacturer for the 6.7-liter turbo diesel engine used in the heavy-duty […]
Auto auction veteran Mike Hockett couldnâ??t have been happy yesterday about news that one of his sons, Scott
Hockett, has signed a document saying he will plead guilty to charges of federal bank fraud.
A few years earlier, another of…
Just when you think Roger Penske would be focused on Indianapolis—as in the Indy 500—he apparently is looking at other interests to the north. Penske is considering a bid for General Motors’ Saturn…
Normal 0 false false false MicrosoftInternetExplorer4 General Motors Corp. today posted a $6 billion first quarter loss and said it spent $10.2 billion more cash than it took in during the first three months of the year as revenue plummeted by $20 billion. Chief Financial Officer Ray Young said talk of the company going into […]
In the print edition of IBJ this week, I offered my thoughts on Peter Shelton’s “thinmanlittlebird,” which now adorns the front of the Central Library. See story here.
Since that appeared,…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 Shopping mall giant Simon Property Group Inc. plans to sell another 14 million shares of common stock to raise money for “general corporate purposes” in a new attempt to shore up its balance sheet, the company said yesterday. The Indianapolis-based real estate investment trust did […]
Five of the nation’s largest regional banks, including four with dozens of branches and hundreds of employees in Indiana, are vulnerable to a worsening recession and need to raise a total $8.2 billion in new capital based on results of government “stress tests” released yesterday.The two regional banks based in the Southeast, Regions Financial Corp. […]
The only Ford dealership in the southwestern Indiana city of Vincennes will close its doors later this month, one of the latest victims of the nation’s struggling auto industry. Mayor Al Baldwin said he’s stunned by the news that Vincennes Ford will close May 23 after more than 71 years of selling cars to Vincennes […]
