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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 […]
Blackboard Inc., a Washington, D.C.-based education-technology firm, has agreed to acquire Indianapolis-based software developer Angel Learning Inc. for about $95 million, the companies announced yesterday. The transaction, composed of $80 million in cash and $15 million in stock, has been approved by both companies’ boards of directors and Angel Learning’s shareholders. It is expected to […]
Normal 0 false false false MicrosoftInternetExplorer4 A Bloomington company that provided limestone for Yankee Stadium, the White House and the new Indianapolis International Airport has filed for Chapter 11 bankruptcy protection. Victor Oolitic Stone Co., which has 85 full-time employees and 2,400 acres in Bloomington, listed assets worth up to $50 million and liabilities between […]
Normal 0 false false false MicrosoftInternetExplorer4 More Indiana schools have fallen into academic watch and probation status, and the state is sending assistance teams to help 31 schools stuck for years on the lowest rung of the state’s five-tier ranking system. State Superintendent Tony Bennett said today that teams of three to five people will […]
Normal 0 false false false MicrosoftInternetExplorer4 Normal 0 false false false MicrosoftInternetExplorer4 Indianapolis-based ExactTarget Inc. announced today that it has signed a $70 million financing deal with three venture capital firms. Led by Boston-based Battery Ventures, the VC infusion includes investments from Silicon Valley’s Scale Venture Partners and Baltimore‘s Montagu Newhall Associates. The investment […]
Normal 0 false false false MicrosoftInternetExplorer4 Several Indianapolis businesses are taking steps to protect against the spread of swine flu as the number of confirmed cases in the United States continues to rise. The U.S. Centers for Disease Control and Prevention yesterday reported 403 confirmed cases across 36 states – 124 more than were […]
It’s opening day for the Indianapolis 500. Gates at the Indianapolis Motor Speedway opened at 9 a.m. Rookie orientation runs until 2 p.m. and practice from 2-6 p.m. Admission is $5, with children 5 and under free. The Indianapolis 500 is scheduled for May 24.
Indianapolis-based ExactTarget announced today that it has signed a $70 million financing deal with three venture-capital firms. Led by Battery Ventures, the round of financing includes investments from Silicon Valley’s Scale Venture Partners and Baltimore’s Montagu Newhall Associates. The VC infusion is one of the largest venture-capital investments in the nation this year. IBJ.com will […]
Investigators are trying to figure out what sparked a fire that damaged an east-side Indianapolis nightclub called Club Escalade in the 6700 block of East 38th Street. Repair men noticed the smoke late yesterday. No one was inside the building at the time of the fire.
The son of Adesa Inc. co-founder Michael Hockett agreed to plead guilty Monday to federal bank fraud, the same day the charges were brought by the U.S. Attorney for the Southern District of Indiana in Indianapolis. B. Scott Hockett, 45, faces maximum penalties of 30 years in prison and a fine of $1 million. A […]
A Bloomington company that provided limestone for Yankee Stadium, the White House and the new Indianapolis International Airport has filed for Chapter 11 bankruptcy protection. Victor Oolitic Stone Co., which has 85 full-time employees and 2,400 acres in Bloomington, listed assets worth up to $50 million and liabilities between $50 million and $100 million in […]
Administrators plan to reopen two local schools ahead of schedule after they were closed when students there were diagnosed with the H1N1 virus, better known as swine flu. Spring Mill Elementary School and IPS School 60 were expected to remain closed until next Monday, but children attending those schools will now be allowed to return […]
Several Indianapolis businesses are taking steps to protect against the spread of swine flu as the number of confirmed cases in the United States continues to rise. The U.S. Centers for Disease Control and Prevention yesterday reported 403 confirmed cases across 36 states – 124 more than were confirmed the day before. Worldwide, the number […]
Norwood Promotional Products Inc., an Indianapolis-based supplier of customized items like awards and logo-imprinted coffee cups, filed for Chapter 11 bankruptcy protection yesterday in Delaware. The company, the nation’s second-biggest seller of promotional products, plans to get back on its feet by selling out to Aurora Resurgence, a Los Angeles-based private equity firm, through a […]
The son of Adesa Inc. co-founder Michael Hockett agreed to plead guilty Monday to federal bank fraud, the same day the charges were brought by the U.S. Attorney for the Southern District of Indiana in Indianapolis. B. Scott Hockett, 45, faces maximum penalties of 30 years in prison and a fine of $1 million. […]
Some good news from an Apartments.com and CBCampus.com survey: Indianapolis has been named the top city for recent college graduates. The study looked for cities with the highest concentration of young adults,…
Indy Racing League team Panther Racing has filed a lawsuit against locally based video and Web production company Pathway Production Co., which is now owned by Mays Chemical Co. President William Mays. The…
Evansville-based American General Finance, a subsidiary of AIG, plans to cut 500 jobs and close 150 offices throughout the country, according to the Evansville Courier & Press. AIG spokesman Mark Herr declined to say when or where the cuts and closings would occur but told the newspaper that the company will reassign some employees to […]
Peoria, Ill.-based Caterpillar Inc. plans to lay off 141 Indiana employees for at least six months at its Large Engine Center in Lafayette, the Lafayette Journal & Courier reported today. Caterpillar also plans to implement an unspecified number of “rolling layoffs,” or furloughs, during the remainder of the year, the company told the newspaper in […]
