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Only one other area of the country saw its unemployment rate jump faster in June than the Elkhart and Goshen region in northern Indiana, the U.S. Bureau of Labor Statistics reported today. Elkhart’s rate shot up 2.8 percentage points, to 7 percent, from June last year. That rise tied with identical increases in Cape Coral-Fort […]
As fans of the late Milton Friedman gather at the Conrad Hotel tomorrow night to celebrate the libertarian
economist, theyâ??ll have plenty to crow about.
Ironically, though, Friedmanâ??s ideas about turning education over to market forces have failed to gain much…
At 2 p.m. today, IRL officials are expected to unveil their 2009 schedule. Motorsports sources tell IBJ there will be 18 races next year (10 ovals and eight road courses), with the Nashville…
By Norm Heikens The Finish Line Inc. plans to add 180 employees over five years in an expansion of its warehouse and headquarters on the far-east side, the Indiana Economic Development Corp. announced today. Finish Line, a mall retailer specializing in athletic shoes and clothing, has 670 employees in Indianapolis and 13,000 nationally. The state […]
By Norm Heikens Republic Airways Holdings, the Indianapolis-based parent of Chautauqua Airlines, Republic Airlines and Shuttle America, said yesterday it will accelerate its schedule to do away with a small, 37-seat jet used to carry passengers for Delta Air Lines. The 11 remaining Embraer E135 aircraft will be removed from service by Sept. 30 instead […]
Only one local Linens ‘n Things Inc. store will close as a result of the company’s Chapter 11 bankruptcy restructuring, parent Linens Holdings Co. announced yesterday. The store slate for closing is in Avon. Linen ‘n Things also has locations in Castleton, the far south side of Indianapolis and in Noblesville. The Clifton, N.J.-based company […]
Crawfords Bakery & Deli is closing its retail bakery at 16th Street and Capital Avenue across from Methodist Hospital. The local company, established in 1981, will continue operating a 25,000-square-foot wholesale…
Duke Realty Corp. said today it has acquired a warehouse in Savannah, Ga., bringing its leased warehouse space in the port community to 5.3 million square feet. The purchase of the 176,000-square-foot warehouse was disclosed today as Duke announced second-quarter investment activity. The Indianapolis-based real estate investment trust said it logged $232.5 million in new […]
Gas prices have been up for quite a while now, so are buyers of the H2 Hummer, the king of sport-utility
vehicles, pulling back?
Not as much as one might think, says Corey Lockhart, Hummer general manager at Lockhart Hummer in…
By Scott Olson Acquisitions and favorable exchange rates helped propel Franklin Electric Co. to a record second quarter. The Bluffton manufacturer of water and fuel pumps today reported profit of $15.3 million, compared to $6.6 million in the same period last year. Revenue shot to a second-quarter record of $201.7 million, up 32 percent. About […]
Investors drove down the price of Interactive Intelligence Inc. stock this morning after the Indianapolis software developer reported late yesterday that second-quarter profit plunged to $845,000 from $2.4 million a year earlier. The shares traded at $8.03, down 8.2 percent. Interactive Intelligence also reported revenue hitting a second-quarter record of $30.6 million. The company added […]
The Richmond City Council declined to vote last night on a 1-percent food and beverage tax that would have funded construction of a conference center. Mayor Sally Hutton asked councilors to table the vote in order to give supporters more time to collect and present details to councilors, according to The Palladium-Item of Richmond. Several […]
Max Anderson at the Indianapolis Museum of Art has finally gotten his wish–a dominant piece of art in the IMA’s Pulliam Great Hall (that’s the open area you enter as soon as you go through the sliding doors at the…
A local accounting firm has bought the Grain Dealers Mutual Insurance building along Meridian Street for its headquarters after a local developer couldn’t…
Indiana University is making me look pretty smart these days. And it has nothing to do with the degree I earned there almost 20 years ago.
Three weeks ago I was asked on a…
Variety reports today that “Up in Smoke” comedy legends Cheech and Chong will be hitting the road for the first time in 25 years. Their national tour, titled “Hey, What’s that Smell?” will be announced tomorrow.
Meanwhile, the latest comedy from…
Ten workers have been fired at Alcoa Inc.’s aluminum smelting and fabrication operation near Evansville and another 20 have been disciplined after the company said they purposely slowed production. Managers claimed the workers were putting in only modest effort, and that data from machinery in the plant showed production slowed from the same time last […]
By Norm Heikens Pac-Van Inc., an Indianapolis company that leases mobile offices and storage units, has been sold again, nearly two years after it was acquired from its founders. General Finance Corp. of Pasadena, Calif., acquired Pac-Van parent Mobile Office Acquisition Corp. in a deal valued at $158.8 million, the companies announced late yesterday. California-based […]
A discovery of insurance policies abandoned by now-defunct Ertel Manufacturing Co. has led the city of Indianapolis to sue at least 15 insurance companies for costs to clean up the site, the city said yesterday. The city is seeking more than $5 million for removing PCBs, cadmium and solvents from the site northeast of downtown […]
The full-size pickup plant General Motors Corp. operates in Fort Wayne will be shut down an additional week in August due to allow inventories to shrink, Bloomberg reported. Today’s announcement by GM brings to three the number of weeks the plant will be idle. The Detroit automaker also said today that it will eliminate one […]
