City to help Pacers financially
It’s official. The Indiana Pacers are hemorrhaging financially—and looking for city aid. Though franchise officials have no interest in discussing it, the situation has become so bad, the team is now seeking help…
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BREAKING: CIB expects Pacers to renegotiate lease-WEB ONLY
The city’s Capital Improvement Board, which already faces a major operating deficit, expects to take an additional $15 million hit next year from a provision that allows the Indiana Pacers to renegotiate their lease after 10 years. CIB members met this afternoon to begin tackling the organization’s $43 million annual operating shortfall, which includes Conseco […]
CIB expects Pacers to renegotiate lease-WEB ONLY
The city’s Capital Improvement Board, which already faces a major operating deficit, expects to take an additional $15 million hit next year from a provision that allows the Indiana Pacers to renegotiate its lease after 10 years. CIB members met this afternoon to begin tackling the organization’s $43 million annual operating shortfall, which includes Conseco […]
Steel Dynamics surges on better-than-expected 4Q-WEB ONLY
Steel Dynamics Inc.’s stock price jumped today after it beat Wall Street’s expectations of its fourth-quarter results, though the steelmaker posted a loss because of one-time charges. The Fort Wayne-based company reported a loss of $82.7 million, or 45 cents per share, in the quarter compared with profit of $97.9 million, or 50 cents per […]
UPDATE: Navistar ends 70-year local presence-WEB ONLY
Navistar International Corp.’s decision to close its east-side manufacturing campus on July 31 will end a 70-year tradition of Indianapolis-made engines that began when the plant opened in 1938 as International Harvester. As many as 700 people will be out of work because Navistar lost its contract with Ford Motor Co. to produce diesel engines […]
Cabaret ends run; Athenaeum seeks new tenant-WEB ONLY
American Cabaret Theatre’s announcement last week that it would move out of its longtime home at the Athenaeum on Massachusetts Avenue was more than two years in the making. “We just flat ran out of cash,” said Barbara Weaver Smith, the not-for-profit professional company’s board president. “There is no alternative at this moment in time.” […]
Local Rolls-Royce plant lands Air Force contract-WEB ONLY
Employees at Rolls-Royce Group Plc’s Tibbs Avenue manufacturing plant started 2008 not knowing whether they’d keep their jobs. They’re starting 2009 with plenty of work ahead of them. Rolls-Royce said yesterday it won a multiyear contract to develop fuel-efficient turbine engines for the U.S. Air Force – a deal that could be worth as much […]
Cabaret ends run; Athenaeum seeks new tenant-WEB ONLY
American Cabaret Theatre’s announcement last week that it would move out of its longtime home at the Athenaeum on Massachusetts Avenue was more than two years in the making. “We just flat ran out of cash,” said Barbara Weaver Smith, the not-for-profit professional company’s board president. “There is no alternative at this moment in time.” […]
Salmonella confirmed in Indiana-WEB ONLY
A nationwide salmonella outbreak has hit Indiana. The State Department of Health now reports six confirmed cases of salmonella in the Hoosier state. The cases are believed to be related to the same salmonella strain that prompted a nationwide recall of peanut butter products. About 500 people in the United States have been affected, and […]
Indiana jobless jump among nation’s highest-WEB ONLY
Indiana’s unemployment rate reached 8.2 percent in December – the highest it has been since President Ronald Reagan began his second term in office. The state’s rate in December shot up 1.1 percentage points, pushing the figure to its highest point since February 1985, according to the U.S. Bureau of Labor Statistics. Indiana has the […]
Second round of snow bears down on Indiana-WEB ONLY
Hoosiers can expect a slippery commute tomorrow morning as Indiana weathers its most significant snowfall of the season. A winter storm warning is in effect for southern Indiana tonight, while other portions of the state are under advisories and watches. The storm front should move in to the Indianapolis area during the evening rush hour, […]
Ballard outlines government reform strategy-WEB ONLY
This afternoon, Indianapolis Mayor Greg Ballard is detailing his strategy to reform four major areas of local government: fire services, emergency communications, property tax administration and poor relief. Mayor Ballard is delivering the policy speech in front of the Rotary Club at the Scottish Rite Cathedral Ballroom.
Navistar closing ends 70-year local presence-WEB ONLY
Navistar International Corp.’s decision to close its east-side manufacturing campus on July 31 will end a 70-year tradition of Indianapolis-made engines that began when the plant opened in 1938 as International Harvester. As many as 700 people will be out of work because Navistar lost its contract with Ford Motor Co. to produce diesel engines […]
Steak n Shake burned for $3.4M quarterly loss-WEB ONLY
Steak n Shake Co. extended its bad run into the new year, reporting a $3.4 million loss for its first fiscal quarter yesterday, up from a $1.2 million loss in the prior-year period. It was the Indianapolis-based restaurant chain’s fifth consecutive quarterly loss. Total revenue for the quarter ended Dec. 17 was $131.7 million, off […]
Carmel Clay proposes budget cuts-WEB ONLY
The Carmel Clay School District is looking for ways to trim millions of dollars from next year’s budget. Administrators revealed a plan for across-the-board cuts totaling $1.85 million. The plan would mean layoffs for a number of teachers, including several in the foreign languages. Other instructors would be paid more to teach an extra class […]
Local Rolls-Royce plant lands Air Force deal-WEB ONLY
Employees at Rolls-Royce Group Plc’s Tibbs Avenue manufacturing plant started 2008 not knowing whether they’d keep their jobs. They’re starting 2009 with plenty of work ahead of them. Rolls-Royce said yesterday it won a multiyear contract to develop fuel-efficient turbine engines for the U.S. Air Force – a deal that could be worth as much […]
Former GM plant sells; two others on market-WEB ONLY
The City of Anderson recently sold one of three former General Motors plants, and officials say they’re optimistic that they’ll soon find buyers for the remaining two sites, despite the sluggish economy. “Anderson hit bottom a long time ago,” said Diana Priser, the city’s deputy director of economic development. “We’re on our way back up.” […]
Celtics, Cavs still hot for Miller
Boston Celtics Coach Glenn “Doc” Rivers clearly still has former Indiana Pacer Reggie Miller on speed dial. In a surprising revelation, Rivers told radio talk show host Dan Patrick yesterday that he called…
State’s jobless rate hits 8.2 percent-WEB ONLY
Indiana’s unemployment rate shot up more than 1 percentage point to 8.2 percent in December, according to figures released this morning from the Indiana Department of Workforce Development.The state’s jobless rate grew from 7.1 percent in November and is a whopping 3.6 percentage points higher than the 4.6 percent unemployment rate recorded in December 2007.Indiana […]
13 noms for IBJ Movie Night films
Films that were screened as part of our IBJ Night at the Movies previews scored 13 Oscar nominations.
Ten of those noms were for “Slumdog Millionaire.” Two others were for “The Duchess” while the final one was a well-deserved Best Original…