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Atlanta Falcons quarterback Michael Vick, who pleaded guilty last month to federal dog fighting charges, has been sued by 1st Source Bank in South Bend over claims that his company hasn’t repaid more than $2 million in loans. The loans to Divine Seven LLC, a Georgia company, were made to finance vehicles for a car […]
The Finish Line Inc. reported this afternoon that it lost $1.8 million in the second quarter ended Sept. 1. While a reversal from the $9.2 million it earned a year earlier, the loss was smaller than the $3.9 million setback in its first fiscal quarter. The most recent quarter included $13 million in costs to […]
Earlier this year, real estate agent and Fountain Square resident Phil Barcio began the Fountain Square Mural Project, an effort to transform the neighborhood’s alleys to help prevent crime and…
The Indiana Fiscal Policy Institute, Indiana’s only statewide organization devoted to independent government research, is on the cusp of collapse. Steve Johnson, its CEO, told IBJ this morning he has stepped down due to lack of funding. “I was just not able to sufficiently raise the dollars to keep the institute going,” Johnson said. “Oftentimes, […]
The Indiana Association of Realtors today called for shifting some reliance on property taxes to other revenue sources, but stopped short of advocating eliminating the tax. The trade group didn’t specify which sources should be increased to offset any reduction in property taxes. Replacement revenue should come from “broad-based taxes centered on the ability to […]
Profit at Cohesant Technologies Inc. increased nearly 14 percent in the third quarter, to $431,443, the Indianapolis company reported today. Cohesant, which protects and repairs water and wastewater systems, cited revenue gains across its business segments for the increase. Revenue rose to $8.3 million in the quarter, from $6.4 million a year earlier.
The LaPorte area has about everything necessary for an intermodal facility, the director of CSX Intermodal said during the annual Indiana Logistics Summit in Indianapolis yesterday. The key to landing an intermodal project is community support, Michael Gallis said. However, while economic developers and other officials in the northwest Indiana city back the idea, many […]
Waste baskets won’t overflow at Market Tower because janitors who clean the building went on strike late yesterday, according to an attorney who represents the company contracted to clean the building, Executive Management Services. The attorney, Dave Swider, said other employees from the Indianapolis janitorial firm will be brought in to perform the work. “We […]
Student loan giant Sallie Mae, which employs 2,300 workers in Fishers and another 500 in Muncie, said today that the private-equity buyers who offered to buy it for $25 billion want to back out of terms of the agreement. Earlier this month, Virginia-based Sallie Mae warned the investors to follow through with the deal. The […]
Arizona-based Nothing But Noodles has closed its local stores on 96th Street and near the IUPUI campus. No one answered the phone at either of the stores or at the Indianapolis corporate…
Janitors working in Market Tower downtown walked off the job yesterday in their ongoing attempt to organize under the Service International Employees Union. Union backers have complained for months that the company that cleans the tower, Executive Management Services, is discouraging its workers from joining the union. Both the union and the Indianapolis janitorial company […]
David Frick, chairman of the Indiana Stadium and Convention Building Authority, is rejoining Baker & Daniels LLP. The 63-year-old Frick, who will continue leading the authority, left the law firm as managing partner in 1992 after a 20-year career there. He retired from WellPoint Inc. a few years ago. His corporate practice will concentrate on […]
Officials for the Indiana Invaders track and running club and the city of Indianapolis announced yesterday that a championship cross-country course and training venue will be developed along the banks of the White River downtown. Ground was broken this week on the project, which is being financially supported by locally based retailer The Finish Line, […]
The pay system to be used by Honda Manufacturing of Indiana at its new assembly plant in Greensburg will start workers at $14.84 an hour and automatically ratchet up wages over two years to $18.55. The Japanese automaker also plans to include annual bonuses based on how individuals perform and how the company fares, according […]
Look out, Taco Bell. California-based Del Taco, the country’s No. 2 taco chain, is planning to open 16 new restaurants in Indianapolis. The chain, which already has about 500 restaurants in 14…
It’s official-Chakaia Booker will be the next big public arts display in Indianapolis. The Arts Council of Indianapolis said this afternoon that the New York-based artist will be paid $140,000 to produce nine over-sized works for the show. Booker’s trademark is large sculptures built on metal frames covered with cut, shaped and molded tires. The […]
Shareholders of the company that owns WFBQ-FM 94.7 and two other Indianapolis radio stations yesterday approved a $19.5 billion acquisition offer from a group of private equity firms. In addition to the local classic rock powerhouse, Clear Channel Communications Inc. owns local alternative rock station WRZX-FM 103.3 and WNDE-AM 1260, which broadcasts a sports format. […]
Eli Lilly and Co. has agreed to pay $18 million to settle a bitter dispute it had with New York-based Emisphere Technologies Inc. Emisphere announced the settlement agreement this morning but gave no details. The agreement still needs approval from U.S. District Court Judge David Hamilton in Indianapolis. In January 2006, Hamilton ruled that Indianapolis-based […]
Novae Corp., a manufacturer of utility trailers, commercial lawn care attachments and industrial material handling equipment, plans to build a 12,000-square-foot addition to its plant in the northeastern Indiana town of Markle. The company plans to create 100 jobs by 2010, according to the Indiana Economic Development Corp. Novae now employs 80. Novae received commitments […]
The U.S. Air Force has awarded Rolls-Royce a contract valued at $19.6 million to develop high-temperature, high-pressure ratio compressor technologies for jet engines. The work, which will be conducted at the British company’s research unit on the west side, will focus on engine architecture for planes used in intelligence, surveillance and other sub-sonic missions. The […]
