New airport taking shape
The new Indianapolis airport has been in the news lately (thanks to plans for special foot basins for Muslim taxi drivers). We haven’t yet discussed the airport, so here’s your chance. The…
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Fineline Printing buys press, will create 25 jobs
Fineline Printing Group in Indianapolis has spent $2.5 million on a Heidelberg Speedmaster printing press, an investment that will require hiring 25 more workers in the next two years, Fineline said yesterday. The German-built offset press is the most productive in its class, said Fineline, which is on the northwestside. Family-owned Fineline counts Eli Lilly […]
Farm Bureau proposes cutting property taxes
The Indiana Farm Bureau today proposed cutting property taxes by about a third, or more than $2 billion, and replacing the lost revenue with higher income and sales taxes. Under the proposal, costs for schools, welfare, local courts and the “rainy day” fund would be shifted from local government to the state. The state personal […]
SEC charges local man with defrauding banks
Mark Ristow, a 62-year-old Indianapolis resident, has been charged by the Securities and Exchange Commission with defrauding mutual savings banks and the banks’ depositors, and has pleaded guilty to similar charges leveled by the U.S. Attorney’s Office in New Jersey, the SEC said today. Through various means, Ristow misrepresented himself in accumulating shares of 23 […]
Foot Locker taking Flagstar space
Foot Locker has filed plans to open a 3,300-square-foot store at the corner of Meridian and Washington streets downtown. The space currently is home to Flagstar Bank, which plans to move to…
Huntington signs Colts sponsorship deal
The Indianapolis Colts yesterday announced a sponsorship deal with Ohio-based Huntington Bank that includes sponsorship of the new Lucas Oil Stadium’s west gate, which will be named and themed for the bank. Terms of the deal were not released, but sources close to the deal said it was a multi-year, multi-million dollar deal. In September, […]
Indiana members join in UAW strike against GM
The United Auto Workers has launched a national strike against General Motors Corp., GM spokesman Dan Flores said today. It’s the first nationwide strike during auto contract negotiations since 1976, when Ford Motor Co. plants were shut down. Workers walked off the job and began picketing today outside GM plants after the 11 a.m. UAW […]
Speedway-based Zipp to be acquired
Officials for Speedway-based Zipp Speed Weaponry announced Sept. 21 that they have signed a letter of intent to be acquired by Chicago-based SRAM Corp.Both companies design and manufacture high-end bicycle components. Financial terms of the deal, which is expected to close within 60 days, were not disclosed. Zipp will maintain its headquarters on Main Street […]
Genesco breached merger deal, Finish Line says
Genesco Inc. is breaching terms of the deal to sell to locally based Finish Line Inc because Genesco is withholding certain financial information from Finish Line and won’t grant it access to Genesco’s chief financial officer and other financial staff, Finish Line said this morning. The statement was Finish Line’s first official response to last […]
Lilly sues to stop generic Strattera
Indianapolis-based Eli Lilly and Co. is suing Sun Pharmaceutical Industries Ltd. of India to stop Sun from selling a generic version of its hyper-disorder drug Strattera. Lilly, which filed the suit in Detroit on Sept. 20, said it would be “irreparably harmed” if the generic wasn’t stopped, according to Bloomberg. Sun’s application to the U.S. […]
Envelope printer to expand in Angola
Wolf Envelope Co. will invest at least $1.8 million and hire 26 additional workers over four years at its envelope printing operation in Angola, Indiana Economic Development Corp. said today. Wolf, based in Troy, Mich., will add high-speed color jet printers at the northeast-Indiana site. The plant employs 82 who print 1 billion envelopes a […]
Health benefits brokers ripe for consolidation: Strategic Health, armed with new owner’s technology and deep pockets, is on the prowl to roll up peers
When Dane Hudson sold his health benefits consultancy on Aug. 1, he hoped it was only his first of many mergers. Hudson, the founder of Strategic Health Plans Corp. in Carmel, sold his company to Illinois-based Arthur J. Gallagher & Co. for an undisclosed amount. Gallagher, a quiet company that is one of the nation’s largest health benefits firms, wants Hudson to buy up another three or four health benefits brokers in the next five years. Hudson also said he’ll…
Tax credit boosts interest in Indiana’s college plan: Break offsets what some consider excessive fees
Parents sifting through the dizzying array of college-savings plans must feel as though they’re playing their children’s Pin the Tail on the Donkey game: Make a blind stab and hope for the best. But a state tax credit that took effect at the start of the year seemingly is providing enough incentive to steer Hoosiers toward Indiana’s 529 offering despite the hefty fees that accompany it. The bill that created the 20-percent tax credit-equaling $1,000 on contributions up to $5,000-vaults…
LESSONS LEARNED JENNIFER Q SMITH Queen of Fuzz, AvantGarb: Have
LESSONS LEARNED JENNIFER Q SMITH Queen of Fuzz, AvantGarb Have It’s hard to take Jennifer Q Smith too seriously. Oh, she’s the consummate professional, to be sure-responding to an e-mail inquiry about her company with the speed and savvy you’d expect from someone who has run her own business for 20 years. Her marketing materials are slick, her shtick smooth. Her northeast-side work space is clearly well used. But the hot pink fuzz ball that looms in the entryway (dressed…
Clicking for dollars starting to compute?: Online donations to not-for-profits show signs of growth after sluggish years
During 1990s Internet mania, some in philanthropic circles had high hopes for online fund raising. After all, if people were buying books and clothes on the Web, they might just as impulsively click on a not-for-profit’s “donate” button. “They always expected it was really going to take off,” recalled Eugene Tempel, director of the Center on Philanthropy at Indiana University. “But it never did.” That may be changing: A new study by the Indianapolis-based center finds that not-for-profits “may be…
Home entrepreneurs test child-care waters
Motherhood is a common path to the home-based child care business, but more childless women looking for self-employment options
also are getting into the field. Nearly 3,000 Indiana child-care providers are licensed to provide services in their homes–including
469 in Marion County.
INVESTING: Rating agencies not alone in missing subprime mess
The business of rating debt securities is dominated by three firms: Moody’s, Standard & Poor’s, and Fitch. Their practices now are under fire with the subprime meltdown. Two weeks ago, we discussed securitization, a process whereby mortgages are pooled together, sliced up into securities, and sold to investors. The job of the rating agencies is to attach a rating to these securities that is based on their analysis of the risk of the underlying mortgages. Many investors, including pension plans,…
SPORTS: Sadly, loyalists come to the aid of a Patriot cheater
Undoubtedly, he was caught up in his “Win-One-For-The-Gipper” moment when New England Patriots quarterback Tom Brady said of Bill Belichick, “We play for probably the best coach in the history of the NFL.” We’ll set aside for a moment whether Belichick can be placed above the likes of Vince Lombardi, George Halas, Tom Landry, Chuck Noll, Joe Gibbs or Don Shula, just to name several. And we’ll forget that Belichick wasn’t so great a coach in Cleveland, where he was…
Size matters to Greenwalt: After cutting ties to construction firm, developer focuses on small projects
Greenfield was up to about $150 million in sales by 2000, when the Greenwalt family sold its commercial construction firm. Founder Max Greenwalt then went to work with his sons Jeff and Lynn at the development company. About the same time, Greenwalt Development tweaked its mission to focus on senior-living communities and medical office projects-scaling back the size of the firm in the process. The leaner company now has $15 million in annual revenue and nearly $14 million in projects…
Navigating the credit crunch: Will subprime woes leave you dry? Here’s what to look for.
For months, we’ve been reading and hearing news about the so-called subprime mortgage crisis and the resulting “credit crunch.” For thousands of families who have lost their homes to foreclosure, the crisis is clear. For most people, however, the impact isn’t so obvious. Beyond those directly affected by mortgage defaults, who else should be concerned about the aftershocks? Some economic forecasters are warning that the subprime mortgage situation and the ongoing weakness in the housing market could linger long enough…