Dunkin may replace Panda
A shakeup continues for street-level retail on Washington Street downtown. Panda Express plans to close its store in the former Roselyn Bakery at Washington and Pennsylvania streets, and a deal is…
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Florida firm to create 750 jobs in Jeffersonville
Connextions Inc. of Orlando, Fla., will locate a secure customer support center in Jeffersonville, creating 750 jobs, the Indiana Economic Development Corp. announced this afternoon. The $6 million project in the southern Indiana city will be similar to locations the company operates in Orlando and Concord, N.C. Connextions employs a total of 2,000. The company […]
Shareholders clobber Conseco after report
CEO Jim Prieur is accentuating the positive after Conseco Inc.’s latest quarterly loss. But Wall Street investors concentrated on the negative this morning, punishing the Carmel-based company’s shares yet again. “We’ve been through some of the pain and now we’re coming out the other side,” Prieur said in an interview last night. “The gross number doesn’t […]
Big housing project delayed until next year
A 2,000-home housing development planned for near Bargersville south of Indianapolis has been delayed until next year, according to the Daily Journal of Franklin. Developer Mike Duke said five other projects he is working on must be finished before starting the Abbey, which is to have single-family houses, townhouses, condominiums and a golf course. If […]
Profit, sales down for truck trailer maker
Wabash National Corp. reported third-quarter profit of $3.8 million, down 24 percent from the year-ago period. Sales in the period ended Sept. 30 were $291 million, nearly 20 percent lower than last year. The Lafayette-based maker of semi-truck trailers echoed sentiment expressed last week by Indianapolis trucking firm Celadon Group Inc., which said a soft […]
IU forecasts modest growth in 2008
Sounding downright Greenspanian, economists at Indiana University’s Kelley School of Business said this morning they are “cautiously optimistic” that 2008 will be a year of modest growth. The U.S. economy will grow 2.5 percent, less than the 3 percent they expected for 2007, they said during the business school’s annual breakfast meeting downtown. Indiana’s economy […]
Duke funds from operations beat outlook
Duke Realty Corp. reported late yesterday that funds from operations in the third quarter increased 4.6 percent, to $93.7 million. The 68 cents per share exceeded the 67-cent average anticipated by analysts surveyed by Thomson Financial. Late last month, Indianapolis-based Duke, one of the nation’s largest industrial real estate investment trusts, said its leases hit […]
Norm’s blog entry
Developer Rivalry: Locally based developers Duke and Lauth, headquartered on opposite sides of I-465 just east of Meridian Street, have cultivated quite a rivalry over the years. The latest win goes to Lauth. The company won a side-bet in a…
Furs, golf, fitness and Whac-A-Mole
A couple of nuggets from recent development plans:
Making Way for Venu: Another Woodfield Centre tenant is moving to make way for redevelopment. Elan Furs has filed plans to take space in Clearwater Shoppes…
Hilbert backing Centaur’s ‘racino’ projects
Stephen Hilbert’s private equity firm is providing some of the $1 billion in financing that Indianapolis-based Centaur Inc. has assembled to fund “racino” projects in Anderson and near Pittsburgh. Centaur this afternoon said it had closed on the financing, which will fund the addition of 2,000 slot machines at Hoosier Park in Anderson. Included in […]
Marion tech startup to create 280 jobs
Veriana Networks Inc., a startup specializing in technology, media and risk management for the entertainment industry, plans to announce this afternoon that it will create 280 jobs by 2012 in its headquarters city of Marion. Veriana will locate in a 252-acre lifestyle project also to be announced at a news conference in the city north […]
A wildlife-friendly business park
Holladay Properties and the Indiana Wildlife Federation plan to dedicate the state’s first “Certified Wildlife-Friendly Development” at an event tomorrow. The 1,500-acre AmeriPlex Business Park, southwest of the Airport, won the designation by…
Who will be Lord of the rings?
Quest for the Ring has suddenly taken on new meaning for Indianapolis Colts fans. The phrase now has as much to do with a raffle, treasure hunt and half-time reality show as it does with the team’s pursuit of a repeat Super Bowl championship. At noon today, Colts owner Jim Irsay announced the team will […]
Berry to build headquarters in Evansville
Berry Plastics Group Inc., an Evansville-based maker of plastics cups, announced today it will build a $20 million global headquarters and create 250 jobs. The move follows its March consolidation with Covalence Specialty Materials Holding Corp. of Bedminster, N.J. The headquarters will be at 101 Oakley St. in downtown Evansville. Berry received nearly $5 million […]
ImmuneWorks gets $300,000 seed investment
ImmuneWorks has received a $300,000 investment from Indiana Seed Fund I to help the Indianapolis company research a manufacturing process for a drug it is developing to fight idiopathic pulmonary fibrosis, a lung disease. The fund is managed by BioCrossroads, the not-for-profit that promotes the life sciences industry in the state. Founded last year by […]
How much is this land worth?
State officials are challenging a $7-million assessment for a 2.3-acre parking lot sandwiched between the RCA Dome and Lucas Oil Stadium. The state has launched eminent domain proceedings, and the owner isn’t…
Lilly buys rights to pain-fighting compound
Eli Lilly and Co has agreed to buy rights to an experimental compound for the treatment of various pains, including pain associated with osteoarthritis, from Glenmark Pharmaceuticals Ltd India. Lilly will pay a $45 million upfront fee as well as up to $215 million more in potential development and sales milestones, plus royalties. The compound, […]
Indianapolis firm plans to shoot “500” movie
An Indianapolis filmmaking company is preparing to start work on a movie about the first Indianapolis 500, which took place in Speedway in 1911. My First Bike Productions Director Justin Escue, who graduated from Ball State University and worked in the filmmaking hotbed of Austin, Texas, has lured screenwriter Angelo Pizzo, who wrote “Hoosiers” and […]
Fort Wayne development veteran to leave
Lincoln Schrock, who helped Fort Wayne launch an economic development organization during the depths of recession in 1982, is leaving its successor group, the Northeast Indiana Regional Partnership. Schrock, now 66, left the administration of former Mayor Win Moses Jr. to start the organization after the city became a national poster child for Rust Belt […]
Old National credits managers for profit gain
Evansville-based Old National Bancorp today reported that third-quarter profit increased 13.3 percent, to $22.6 million, due to broad gains created by tighter management. Interest margins widened, credit quality improved and expenses were contained in the quarter ended Sept. 30, said the bank, which has branches in the Indianapolis area. Return on average equity of 14.2 […]