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Indianapolis-based shopping mall owner Simon Property Group’s fourth-quarter funds from operations increased 12.7 percent, to $507.7 million, the company said today, despite writing off a loss on an Arizona development. Funds from operations, which excludes depreciation and land sales, is a common measure of real estate investment trusts like Simon. Simon’s $1.76-per-share results surpassed the […]
The slowing economy has prompted Newmar Corp. in the northern Indiana town of Nappanee to announce that it will lay off 118 of its 905 workers, according to the South Bend Tribune. Newmar makes motorhomes and fifth wheel recreational vehicles. Other RV companies announcing layoffs recent in the Elkhart area include Travel Supreme and Monaco […]
Economic development leaders in Boone County hope to capitalize on Lebanon’s location mid-way between Indianapolis and Purdue University to attract biotechnology firms. Supporters are starting a committee to look into the possibility and a consultant is discussing the notion with universities, according to The Lebanon Reporter. The idea was sparked by engineers and doctors meeting […]
Indianapolis and Louisville are the sole finalists to host the National FFA convention from 2013 to 2019, according to the Louisville Courier-Journal. Eliminated from the competition are fellow front runners Minneapolis and Kansas City. Ten other cities had applied. The Louisville Convention & Visitors Bureau issued a statement about Louisville and Indianapolis yesterday. The National […]
The proposed $85.6 million acquisition of Cincinnati-based Peoples Community Bancorp Inc. by Integra Bank Corp. of Evansville has been terminated, the banks announced late yesterday. The parties agreed not to discuss the matter beyond saying that ending “the proposed transaction was in the best interests of each of their respective corporations and shareholders.” However, officials […]
The good news for Indiana and Purdue basketball fans is that there are a slew of games scheduled to be aired on a channel Indiana cable television operators actually carry.
The bad news is the Big Ten Network and Comcast Cable…
A last-minute switch in the lineup at Theatre on the Square was mysteriously announced yesterday. In the just-around-the-corner late February slot, out went the relatively unknown survivalist comedy “Bang.” In comes the Pulitzer-Prize winning “Proof.” Why? According to the news…
Gov. Mitch Daniels dished out $6.3 million in incentives as part of Defender Directâ??s expansion announcement
yesterday. But was the carrot a good deal for us taxpayers?
Defender Direct, which sells home security and satellite dish systems, plans to add 1,100…
The Old Centrum is scheduled to close at the end of March, leaving an uncertain future for the former Central
Avenue United Methodist Church at 12th and Central. The…
Two donors recently came forward to support the $82 million renovation of Purdue University’s Mackey Arena.
Tom Spurgeon, a 1961 alumnus and current Purdue trustee, has contributed $3 million toward the project. The gymnasium in the student-athlete academic center will be…
The Indiana Senate made its sentiment clear yesterday by approving the immigration bill by the gaping margin
of 37-11 and firing it on to the House.
This is the bill that would make businesses liable for knowingly hiring illegal immigrants.
With this…
Elsewhere at ibj.com, Jennifer Whitson reports on the Arts Council of Indianapolis’ selection of two projects as winners in this year’s “Great Ideas” contest.
Indianapolis developer Axia Urban LLP is putting the finishing touches on Penn Townhouses, a part of its Meridian at 21 development north of downtown. From the outside,…
Former Indianapolis mayors have a way of staying in the news.
Richard Lugar has climbed to the top echelons of the U.S. Senate. Bill Hudnut is quoted regularly from his
position at the Urban Land Institute, a Washington, D.C., not-for-profit that…
The Arts Council of Indianapolis selected a large luminary project and a pair of open-topped silos as the winners of this year’s “Great Ideas” public art competition. The artists behind the ideas each will get $18,000 to bring their proposals to life. Indianapolis-based sculptor Jeffrey Martin wants to build two stylized silos along the Monon […]
There’s been a lot of feedback regarding the article about the Indiana Pacers’ attendance problem that appeared in this week’s IBJ. A growing number of readers say they won’t be going to Pacers games anytime soon—even if the team starts…
ATA Airlines is eliminating 30 positions at its Indianapolis headquarters while its Georgia-based parent considers options for its scheduled service business-including selling it in part or whole. Steve Forsyth, spokesman for Peachtree City, Ga.-based Global Aero Logistics, confirmed the job cuts to IBJ today. The cuts are due partly to rising fuel prices and decreases […]
Indianapolis Mayor Greg Ballard has made quite a production of putting together an executive team to study whether bidding to be the host of the 2012 Super Bowl is a worthwhile endeavor.
Some in the sports business sector are not quite…
Shares of hip and knee implant maker Zimmer Holdings Inc. surged today after the company reported better fourth-quarter results than analysts expected, and forecast solid 2008 profit and sales. The Warsaw company’s profit and revenue both surpassed Wall Street estimates, as well as its own forecasts, in the fourth quarter. In 2008, Zimmer expects a […]
Weâ??re accustomed to hearing that unions represent a smaller and smaller proportion of the American work force.
Yet, government figures released last week show the first increase in union membership in 24 years, with
about 12.1 percent of workers in unions….
