’09 title sponsor hopes evaporate
Efforts to land an Indy Racing League title sponsor have turned to 2010. Just two months ago, IRL officials said a deal appeared imminent. In October, the economy stifled negotiations. Now, almost all…
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Heartland’s Oscar buzz
You know how, when you’re gathered in the living room filling out you Academy Award ballot with friends and there are the inevitable jokes about nobody having any idea what the nominated documentaries are about?
Well, this year, it could be…
More layoffs slated for Great Dane trailer plant
Economic turbulence has prompted Great Dane Trailers to severely curtail operations at its Terre Haute plant, but another plant in western Indiana operated by the truck-trailer maker has dodged a massive closing. Great Dane Trailers plans to lay off about 115 employees at its Terre Haute plant, leaving 115 workers, according to The Tribune-Star. Two […]
Museum to accept landmark Miller home
Indianapolis Museum of Art has decided to acquire the landmark home and gardens of late Cummins Inc. Chairman J. Irwin Miller and his wife, Xenia. The Columbus house, designed in 1957 by architect Eero Saarinen and considered one of the best examples of the international Modernist aesthetic, will be donated to the museum by the […]
BREAKING: Angie’s List raises $18M in capital
Months after receiving a $35 million injection of venture capital, Angie’s List has raised $18 million in venture debt, this time from a different firm. The Indianapolis company announced this afternoon that it has received $18 million from Lighthouse Capital Partners, a Menlo Park, Calif., firm specializing in secured loans to early-stage and expansion-stage technology, […]
Hip sandwich chain eyes Indy
A Dallas-based sandwich chain plans to open up to 10 locations in central Indiana in the next several years, IBJ’s Chip Cutter reports. Local franchisee Darcie Mueting is scoping out real estate…
IU incubator to house new tech institute
Indiana University has launched a technology center to help scientists attract research funding and drive discoveries that could be turned into life sciences and information technology businesses. The Pervasive Technology Institute will be funded by a $15 million commitment from Lilly Endowment, and be located in the new business incubator IU is building at 10th […]
A tiny Indiana bank and the bailout
Newton County Loan & Savings bank couldnâ??t be more out of the way â?? or more relevant in this day of
government bailouts.
The thrift is in Goodland, a burg between Lafayette and Chicago, and has all of $7.3 million in…
IU’s new business incubator
IU is breaking ground today on a $10 million life-sciences and Internet-technology incubator in Bloomington. The new facility will be 40,000 square feet and is scheduled for…
Indy’s loss is Arizona’s gain
USA Basketball today announced it will move its headquarters from Colorado Springs to Glendale, Ariz. Indianapolis and Louisville were the other front runners. Indianapolis officials announced earlier this year they were out of…
YMCA, Hendricks hospital to build complex
Hendricks Regional Health and YMCA of Greater Indianapolis announced a partnership today to build an integrated fitness center and medical office building – something they say will be unique in Indiana. The 100,000-square-foot center, named Hendricks Regional Health YMCA, will sit on nearly 29 acres along U.S. 36 in Avon. It will provide medical, wellness, […]
Remy swings to profit, sees sales increase
Auto parts maker Remy International Inc. said yesterday that it turned in a $4.3 million profit in the third quarter, a stark contrast to the $39.3 million loss of a year earlier. Sales for the Pendleton company increased 1.5 percent to $279.4 million. A decline in sales to General Motors Corp. was offset by sales […]
UPDATE: Cuban says SEC claims are false
Mark Cuban, the Indiana University alumnus who owns the Dallas Mavericks, said this afternoon that accusations of insider trading leveled against him earlier in the day by the U.S. Securities and Exchange Commission are false. Cuban said in a statement posted on his Web site, www.blogmaverick.com., that he will contest the allegations, calling them “a […]
New art windows on Penn
Every once in a while, I’ll turn the blog over to reporter Kathleen McLaughlin, who is now covering the arts business beat for IBJ. Welcome her aboard and look for her writing here and in the print edition of IBJ.
Take…
Symphony reports $293,000 shortfall
In a sign of financial challenges ahead, the Indianapolis Symphony Orchestra yesterday reported a 1-percent budget shortfall for the fiscal year ended Aug. 31. Expenses exceeded revenue by $293,000, or 1 percent of the $26.8 million budget. CEO Simon Crookall said income from ticket sales and contributions did not keep pace with rising expenses for […]
Miles appointed to City Securities board
City Securities Corp. has named Mark Miles to its board. Miles, 55, is CEO of Central Indiana Corporate Partnership, a not-for-profit that advocates economic-development strategies on behalf of corporate executives and university presidents. He also chairs the 2012 Super Bowl Host Committee. City Securities is a securities brokerage headquartered in Indianapolis.
Honda plant to turn out natural gas Civics
Honda Manufacturing of Indiana said today that its new assembly plant in Greensburg will make a small number of Civic sedans that operate on natural gas. The plant, which opened a month ago and staged a dedication this morning, is projected to produce 800 conventional gas-burning Civics a day. Assembly of the “GX” natural gas […]
Bail out Detroit?
Two schools of thought are emerging over the proposed bailout of General Motors, Ford and Chrysler.
One is that the auto industry is too big to fail. Itâ??s not just because of the manufacturing operations
and all the suppliers…
UPDATE: Getrag meeting with state, local officials
Getrag Group is blaming a deal gone bad with Chrysler LLC for bankrupting a subsidiary the German transmission manufacturer formed to build and manage a $530 million plant in Tipton. Officials in Getrag’s U.S. headquarters in Sterling Heights, Mich., filed for bankruptcy protection in Detroit this morning for its Getrag Transmission Manufacturing LLC unit, stating […]
Dellen car, motorcycle dealerships to continue
Car and motorcycle dealerships owned by Russell J. Dellen before his death will continue under family ownership, according to one of his sons, Nick Dellen. Russ Dellen, who died of a heart attack on Nov. 8 at age 56, owned two car dealerships in Greenfield – one handling Buick, Chevrolet, GMC and Pontiac brands, and […]