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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. […]
Not all news is bad for retail. A few stores are planning their first Indianapolis locations, while others are expanding. By popular demand, here’s the Around Town Retail Roundup:
Zumiez, an action-sports retailer, has…
Greenwood‘s attempt to land a Cabela’s outdoor store cost $130,000 in attorney and consulting fees, according to the Daily Journal of Franklin. Those fees include $68,000 to the Indianapolis law firm of Ice Miller, which drafted bonds offered to the Nebraska-based retailer, and $28,000 to O.W. Krohn & Associates, an accounting and consulting firm in […]
A Purdue University agricultural economist is worried that the push to raise more corn to feed the expanding number of ethanol plants will harm soil and water quality. Otto Doering said during a recent conference that farmers lured by higher corn prices will feel compelled to bring highly erodible and environmentally sensitive land out of […]
AT&T plans to hire 150 workers at its Evansville call center this year, reports the Evansville Business Journal. The new jobs will pay an average of $11.60 an hour. About 600 people now are employed at the call center, which opened last year.
Indianapolis-based CountryMark Cooperative is suing its investment adviser, Morgan Keegan & Co., for directing the farmer-owned co-op toward a $10 million investment in mortgage-backed securities, including subprime. CountryMark purchased the note on Aug. 10, 2007. Seven days later, ratings agencies downgraded the A+-rated investment to junk status and it remains in default. CountryMark is suing Memphis-based […]
Jim Schellinger, who is seeking the Democratic nomination to unseat Gov. Mitch Daniels in his attempt at a second term, told a group of retired United Auto Workers members yesterday that in his first hour as governor he would reinstate the ability of unions to bargain collectively. Speaking in Marion, Schellinger also said he would […]
Value City will have two remaining Indianapolis locations, at 6002 E. 38th St. and 5110 Pike Plaza Rd.
An expansion of an Indianapolis collection agency is expected to result in 220 workers being added to the roughly 100 already employed by the company. Premiere Credit said this afternoon that 120 of the jobs will be located at its location at 2002 Wellesley Boulevard near interstates 70 and 465 on the east side and […]
A lawsuit filed in Steel Dynamics Inc.’s headquarters city of Fort Wayne accuses the steelmaker of causing a steel company in Thailand to lose $1 billion. Prime Eagle Group Ltd., owner of the Thai steel company, claims investors abandoned Nakornthai Strip Mill after Steel Dynamics publicly criticized the project while acting as a consultant to […]
