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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 […]
Calumet Specialty Products Partners L.P. this morning reported a profit of $75.6 million in the first quarter, bouncing back from a loss of $3.4 million in the same period of 2008. The Indianapolis-based refiner and processor of specialty lubricants attributed the higher profit to significantly lower prices on crude oil, which it uses to […]
The cost of nursing home care in Indianapolis is rising faster than in the rest of the country, according to an annual survey of long-term-care costs by Virginia-based Genworth Financial. Residents in and around Indianapolis pay nearly $78,700 per year for a private room in a nursing home. That rate has been rising at 7 […]
The soggiest April in decades has left Indiana farmers far behind in their annual sprint to plant the state’s corn crop, a delay that could cut farmers’ yields if fields don’t dry out within the next two weeks. As of Sunday, only 5 percent of Indiana’s corn crop had been planted. In contrast, an average […]
Indiana University has announced plans to establish schools of public health in Bloomington and Indianapolis. IU President Michael McRobbie said the schools will work on public health problems in the state, such as obesity, cardiovascular disease and diabetes. The Bloomington school will focus on rural health issues while the school on the IUPUI campus in […]
Looks like the folks at Conner Prairie in Fishers have beat White River State Park to the hot-air-balloon-ride punch. They plan to unveil…
The Indiana State Library is hosting a special Indianapolis Motor Speedway/Indy 500 program this Thursday from 5 p.m. to 6 p.m.
The program—which is free and open to the public—will provide a historical perspective…
Lauth Group Inc. says it was forced to file for Chapter 11 bankruptcy last week after its largest creditor launched an effort to “cherry pick” the developer’s best properties and let the rest collapse “to the detriment of all other creditors.” The locally based developer, once the nation’s 13th largest, said attempts by Chicago-based Inland […]
The struggling stock market took its toll on Lilly Endowment in 2008, dropping the value of its assets by 26 percent, from $7.7 billion to $5.7 billion, it announced today. The Indianapolis-based endowment’s value hit its lowest level in more than 10 years. The most recent peak was $15.5 billion in 2000. The drop means […]
