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Despite slumping revenue, Emmis Communications Corp. Chairman Jeff Smulyan remains bullish on his company and the radio industry. Emmis this morning reported that revenue in the quarter ended Aug. 31 fell to $96.4 million from $99.9 million during the same period a year earlier. The decline was mostly due to softness at its New York […]
Central Library downtown will reopen in a ceremony Dec. 9. The glass-and-steel expansion was to have opened two years ago, and is $50 million over budget due to faults discovered in concrete in the parking garage. Two lawsuits over the construction are pending. The project will house more than 700,000 books and audio-visual materials.
Butler University‘s $125 million fundraising campaign has received $5.3 million from the Richard M. Fairbanks Foundation and $5 million from 1975 graduate Frank Levinson, the university said today. The donation from Indianapolis-based Fairbanks is earmarked for science. Levinson, a technology entrepreneur, asked only that the university use his money to set the university apart from […]
New York-based Alcoa Inc. said today it has resumed its attempt to sell its packaging and consumer unit, which includes the headquarters in Indianapolis and three plants in Crawfordsville. The Indianapolis operation on the northwest side in Park 100 includes a plastic bottle cap plant. Alcoa also said it is nearing a definitive agreement to […]
Continued weak sales in its radio segment caused profit from continuing operations in Emmis Communications Corp.’s second fiscal quarter to plunge to 3 cents per share from 6 cents per share a year earlier, the Indianapolis media company reported today. Revenue in the quarter ended Aug. 31 also slumped, to $96.4 million from $99.9 million, […]
What do you think of the latest rendering of Penn Centre? The plans, designed by Browning Day Mullins Dierdorf, call for a 240-room Le Meridien hotel, 150-room aloft hotel,…
The city has not decided whether to tear down Bush Stadium, spokeswomen for the mayor and the Department of Metropolitan Development said this afternoon, denying news reports. WTHR reported on its Web…
The Indianapolis Historic Preservation Commission gave its unanimous approval last night for Penn Centre, a massive hotel, residential and restaurant development across from Conseco Fieldhouse. The next step is to add more…
News of gold prices soaring above $700 an ounce is prompting people in the Indianapolis area to sell rings, necklaces and other jewelry, gold dealers say. Business has doubled in the past few weeks for Matt Dinger, who owns Lost Dutchman Rare Coins near Fort Benjamin Harrison. Part of the business surge is resulting from […]
A Marion County Superior Court judge has ordered a company owned by City-County Council President Monroe Gray to pay $43,514 in unpaid bills. The judgment resulted from a suit filed against Mid Regional Concrete Inc. by Charlotte, N.C.-based Sunbelt Rentals, formerly NationsRent Inc. Gray could not be reached for comment. The decision is the latest […]
PMG Indiana Corp. will create 73 jobs at its plant in Columbus as a result of closing a plant it operates in Dayton, Ohio. The Columbus site employs 250 and turns out parts made from metal powder for domestic and foreign carmakers. PMG is owned by Plansee Mitsubishi Materials, which is based in Luxembourg. PMG […]
Downtown Indianapolis had a 15.5-percent vacancy rate for multi-tenant office buildings at the end of the third quarter, down 0.2 percent from the prior quarter, according to Colliers Turley Martin Tucker. Government and medical buildings are excluded from the data. The vacancy rate for suburban office space was 18 percent for the quarter, up 0.5 […]
Bioanalytical Systems Inc. disclosed yesterday that it is taking a $400,000 charge due to the settlement agreement reached with founder Peter Kissinger and his wife, Candice. Peter Kissinger early last month stepped down as chairman and chief scientific officer of the West Lafayette contract research company. A year earlier he resigned as CEO. He remains […]
A New York company specializing in natural and organic foods will build a national production and distribution site in Cambridge City in east-central Indiana. Really Cool Foods will spend $100 million to build the location and hire 1,000 permanent employees over the scope of the project, according to the Indiana Economic Development Corp. The location […]
The city has agreed to pay a Kokomo company up to $423,000 to clean the Central Canal from 11th Street to the White River. The deal with biosolids management firm Merrell Bros….
Carmel-based BFS Diversified Products LLC has agreed to lease 226,000 square feet in a new building at Plainfield Business Center at Airwest. BFS is a subsidiary of Bridgestone Americas Holdings Inc. that manufactures building and roofing products, along with other items. The company will move into a building developed by Rosemont, Ill.-based Opus North Corp, […]
Fairbanks Institute for Healthy Communities has given interim president Dr. Cynthia Helphingstine the permanent role. Locally based Fairbanks said today that Helphingstine also will be chief operating officer. Helphingstine has been vice president of business development at Inproteo LLC, an alliance among Eli Lilly and Co., Indiana and Purdue universities that develops life science technologies […]
Oxford Financial Corp., the Indianapolis company that specializes in estate planning and other financial services for wealthy people, is opening a Chicago office to serve existing clients and seek new ones. Oxford said today that it has named Robert W. Hauswirth to head the Chicago office. Hauswirth has worked in a senior adviser position at […]
The St. Louis construction firm S.M. Wilson & Co. has bought Indianapolis-based Rollins Construction Co. Inc. for an undisclosed price to gain a foothold in the local market. Rollins has completed renovations at Community Health Network hospitals, as well as Major Hospital in Shelbyville and Hancock Surgery Center in Greenfield, among other health care centers. […]
Remy Worldwide Holdings Inc. lenders have approved the Anderson company’s bankruptcy reorganization plan by margins exceeding 98 percent, Remy announced yesterday. Remy, which manufactures starters and alternators, slashed $360 million of debt by exchanging notes, canceling its equity interests and raising $85 million in equity. Secured creditors were paid in full. In a statement, President […]
