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Troubles in the residential mortgage market have ensnared local mall giant Simon Property Group Inc. Simon said today it plans a fourth-quarter write-off of $26 million, the entire value of its equity investment in a master-planned community proposed for a suburb of Phoenix. The loss is expected to reduce the company’s diluted net income by […]

Bob Bedell, president of the Indianapolis Convention & Visitors Association, announced today that he will step down at the end of June. “There is no good time, but this is the right time [to leave],” Bedell said, adding that he’s accomplished his goals of growing the association to handle a promised increase in business. “ICVA […]

A bank in Wabash has changed its name rather than go on battling confusion over seven other banks in the state operating with First Federal as part of their names – three of them within 50 miles. First Federal Savings Bank will be called Crossroads Bank when the new year begins, according to The Journal […]

Subaru of America Inc. has opted for the remainder of a Boone County warehouse it began leasing in January, the developers said yesterday. The Japanese automaker has taken 281,880 additional square feet to bring its total occupancy to 501,120 square feet, according to Indianapolis-based Browning Investments and ProLogis, a Denver-based logistics company. The warehouse is the […]

Carmel-based eGix Inc. has agreed to be acquired by Cincinnati Bell Inc. in a deal valued at $18 million, Cincinnati Bell announced today. eGix provides single-source voice and data services, plus high-speed Internet access and messaging products to about 17,000 customers, mainly in Indiana and Illinois, plus another 20 states. It has 57 employees and […]

Indianapolis-based YourEncore has launched new services designed to help life sciences companies plan for and obtain regulatory approval for new products. To run its regulatory services, YourEncore hired Carol Crowley, a 25-year veteran of the drug and device industry. Prior to joining YourEncore, Crowley was vice president of global regulatory operations for France-based Aventis SA, […]

Autoline Industries Inc., an Indian parts supplier to car, recreational vehicle and tractor manufacturers, has acquired the North American jack and tool-kit business of Dura Automotive Systems Inc. of Rochester Hills, Mich. The sole location where the Dura unit makes the jacks and tools is in the northeastern Indiana town of Butler. The 140 employees […]

The president of Elanco Animal Health, a subsidiary of Eli Lilly and Co., will leave to become a special adviser on corporate development to the Indiana State Department of Agriculture, Lilly announced today. Pat James had led Lilly’s animal health division since 2001 and worked at Lilly since 1978. He will be replaced Jan. 1 […]

White River State Park has selected Indianapolis-based Borshoff Inc. to handle its public relations and marketing for the next two years. The contract is for a minimum of $382,000, including a $312,000 advertising budget from the Imax Theater and $70,000 in dollars pooled from all the park’s venues. The co-op pool may increase its funding […]

Chicago-based Union Tank Car is laying off 100 of its 472 production workers, according to the Post-Tribune of Merrillville. The layoffs will be split between its plants in East Chicago and Sheldon, Texas. The manufacturer said the market weakened after the ethanol boom prompted a surge in production of cars to carry the fuel. As […]