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There will be plenty of future litigation over the subprime mortgage mess. The city of Cleveland has sued 21 of the nation’s biggest mortgage firms, claiming their s u b p r i m e – l e n d i n g practices created a public nuisance that hurt property values and city tax collections. And the FBI, in conjunction with the Securities and Exchange Commission, is looking into the various players to see if fraud was committed. While…
Organizers for a new Indianapolis marathon and half-marathon think the event will become a national draw, showcasing downtown
monuments and historic neighborhoods. The first Indianapolis Monumental Marathon, to be held Nov. 1, is the brainchild of
Carlton Ray, a former city engineer who worked in the Hudnut, Goldsmith and Peterson administrations.
While the world’s political climate is heating up, its economic climate is cooling down. Meanwhile, the real climate is finally getting the attention it really deserves, as the “tipping point” has been reached. Green is everywhere these days. New York Times For homes that no longer grow in value. If the personal consumption rates in China rose to the levels of the United States, annual oil consumption in the world would go up more than 100 percent! Oil consumption in…
Should Indiana’s taxpayers vote on school construction? This seemingly simple question is a vexing issue for the Legislature. The debate surrounding the issue is surprisingly misguided and emotional. A few ill-informed editorials have not added value to the debate. Let me add a bit of data to the discussion to enlarge our understanding. Under Indiana’s current system of government, no elected official reviews the complete budgetary process for local government spending. This, perhaps more than anything else, has caused our…
A multi-court basketball fieldhouse is doing such brisk business in Fishers, its owners have decided to franchise the operation.
Scott Burton, CEO of The Fieldhouse, said deals have already been signed with franchisees in Merrillville and in Naperville,
Ill.
The Fountain Square property that Keep Indianapolis Beautiful Inc. has purchased to house its headquarters is undergoing a massive renovation that will transform it from abandoned derelict to an environmental showpiece. In the process, the not-for-profit environmental group is hoping to set a green example for other developments and draw attention to its mission. KIB bought the building at the corner of Fletcher and Shelby streets for $410,000 in October from the Southeast Development Neighborhood Corp. A $1.3 million redevelopment…
An Indianapolis law firm has filed a class-action suit seeking more than $20 million from a pair of financial-services firms
it says facilitated the transactions that allowed a New Jersey couple to plunder cemetery trust funds. Cohen & Malad LLP filed
the lawsuit late last month on behalf of thousands of customers of Indianapolis-based Memory Gardens Management Corp., which
owns Memory Gardens in Greenwood, Lincoln Memory Gardens in Boone County and other cemeteries. The defendants are the company,
New York-based…
Workers are installing Flagstar Bank signs on the One North Penn building this week, including a sign atop the 13-story building. What do you think of the sign and…
Sources close to the Indy Racing League and Champ Car say both sides have agreed on terms for a merger that will take place this year.
Indy Racing League boss Tony George is set to help any Champ Car teams that…
The Indianapolis International Airport board today voted unanimously to make former Eli Lilly and Co. CEO Randall Tobias its new president. Tobias was appointed to the board by Republican Mayor Greg Ballard. Tobias resigned from a State Department job last year after being linked to a call-girl ring. The eight-member airport board is evenly split […]
Consona Corp., formerly Made2Manage Systems Inc., might be one of the least-known success stories in the state. The software firm is quietly churning out red-hot growth year after year, finishing 2007 with $130.5 million in revenue. That’s more than four times its revenue from 2003, the year Indianapolis-based Made2Manage was acquired by Boston-based Battery Ventures […]
San Francisco-based The Chartres Lodging Group LLC announced today that it has completed its purchase of the 406-room Indianapolis Adam’s Mark Hotel. The group now plans to spend $18 million over the next 18 months to rebrand and renovate the property near Indianapolis International Airport. The company didn’t disclose the new brand the hotel would […]
IBJ reported Jan. 21 that USA Diving, USA Gymnastics, USA Track & Field and U.S. Synchronized Swimming were considering relocating to the Disciples of Christ building on East Washington Street. None of the officials for those sports-sanctioning bodies would confirm…
Fourth-quarter profit increased sharply for Brightpoint Inc. The Plainfield cell phone distributor reported late yesterday that earnings of $14.9 million were up more than 53 percent from a year earlier as it benefited from its acquisition of Denmark-based Dangaard Telecom. Profit from continuing operations of $14.1 million improved from the $10 million in the year-ago […]
Kite Realty Group Trust posted fourth-quarter funds from operations of $12.7 million, up from $11.8 million a year ago. For the year, Kite had $47.2 million in funds from operations, compared with $43.3 million in 2006. As of the end of the year, Kite had an ownership interest in 50 retail properties. Those properties totaled […]
Carmel-based auto auction company Adesa Inc. said yesterday it has acquired a used-vehicle auction in York, Penn., for an undisclosed price. Pennsylvania Auto Dealers’ Exchange, one of the nation’s largest and oldest independent auctions, will be renamed Adesa. The 140-acre site north of Washington, D.C., has 11 automated auction lanes and an 8,000-square-foot facility for […]
The slowing economy has prompted two manufacturers of semi-truck trailers to lay off workers. Wabash National Corp. in Lafayette has temporarily laid off 150 of its 3,265 workers due to receiving fewer orders over the holidays, according to the Journal & Courier of Lafayette. Great Dane Trailers is laying off 54 workers at its Terre […]
Grocery stores are rejecting milk from cows that have been injected with a growth hormone that stimulates
milk production.
Kroger, Dean Foods and others are responding to consumers who are jittery about recombinant bovine somatotropin,
or rbST, which has been used since…
Arizona residents’ willingness to pay higher taxes may have a strong impact on Indianapolis’ effort to land the 2012 Super Bowl. Funding from Arizona’s corporate community paid for 80 percent of the host city’s Super Bowl bill this year. But…
The number of Hoosiers in their top earning years will shrink as the baby-boom generation retires, a new study shows. By 2025, the state will have 2.6 million people between the ages of 25 and 54, according to the study by the Indiana Business Research Center at Indiana University. That’s a 1.7-percent decline from 2005. […]
