What ever happened?
Following up on a few old posts:
No Canterbury Sale Yet. Canterbury Hotel owner Donald Fortunato said he’s getting close to a sale of the 12-story hotel, but the deal is not done….
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Rolls-Royce narrows site choice, report says
Two sites in the U.S. and one international site are finalists for a new Rolls-Royce plant, according to The State of Columbia, S.C. One domestic site is in Greenville, S.C., the newspaper reported, quoting Greenville County Council Vice Chairwoman Judy Gilstrap. Gilstrap would not identify the other sites. Rolls-Royce spokeswoman Mia Walton would not comment […]
Tower getting a new sign
Don’t be alarmed to see workers removing the massive OneAmerica sign from atop the 38-story OneAmerica Tower in the next few days. The company plans to replace the sign with one…
New Michigan casino has little Indiana impact
The opening in early August of Four Winds Casino Resort just across the state line in New Buffalo, Mich., had only a small impact on the five casinos operating in northwest Indiana. Total revenue at the five casinos increased by $1 million in August from July 2006, to $10.49 million, according to the Post-Tribune of […]
UPDATE: IPO could gain Aprimo an edge
If Aprimo Inc.’s $50 million initial public offering plan is successful, the local marketing software-maker should increase its ability to compete against its largest rival. But a longtime Aprimo analyst said going public also would intensify the firm’s short-term pressure to perform. The rival, Waltham, Mass.-based marketing software-maker Unica Corp., staged an IPO in August […]
Chicagoans give Macy’s piece of their mind
Macy’s Inc., which has three Indianapolis department stores, is still fighting a stubborn public relations battle in Chicago, where it bought Marshall Field’s two years ago and renamed the local legend Macy’s. More than 100 people marched yesterday to ask people living in Chicago to boycott the department store until Macy’s changes the name back […]
Greenwood to slam brakes on more truck stops
A proposed ban on new truck stops at Greenwood’s two Interstate 65 interchanges has gained unanimous support from the city council. The council also might ban additional gas stations and convenience stores, according to the Daily Journal of Franklin. A lengthy list of businesses, including dog kennels and boat dealers, already is banned by the […]
Activist investor boosts Steak n Shake holding
A group led by an aggressive, 29-year-old investor from Texas has boosted its stake in the struggling Steak n Shake Co. from 5.8 percent to 6.7 percent, according to a regulatory filing. Sardar Biglari, who runs San Antonio-based Lion Fund, began acquiring Steak n Shake shares this spring. Biglari and affiliates-including Western Sizzlin Corp., the […]
Finish Line hires financial adviser
Indianapolis-based Finish Line Inc. has hired Moelis Advisers as a non-exclusive financial and capital markets adviser, the shoe and clothing retailer announced this morning. Moelis is a division of New York-based Mercanti Securities LLC, which is a unit of Los Angeles-headquartered Mercanti Group. In its statement, Finish Line didn’t discuss why it had hired Moelis. […]
BREAKING: Aprimo plans $50M IPO
Aprimo Inc., the north-side developer of marketing software, said in a Securities and Exchange Commission filing this morning that it plans to raise up to $50 million in an initial public offering. The company would be listed on NASDAQ under the ticker MKTG. Aprimo said the price and number of shares have not been determined. […]
Young developer, towering dream
The odds are long, but Jaron Garrett isn’t giving up on an ambitious plan to replace several blighted buildings along Washington Street with a twisting glass-and-steel apartment tower. The 25-story project…
Muncie area ambivalent about Clarian project
The expected announcement that Indianapolis-based Clarian Health Partners will build a hospital near Muncie is raising anticipation about improved health care services as well as fears that the competition could hurt local hospitals, according to The Star-Press. Last week, the president of the town council of nearby Yorktown said Clarian plans to develop a 100-acre […]
Web video series heralds Roman invasion at IMA: Produced in-house, the 11-part series is a first
When the Indianapolis Museum of Art landed the U.S. premiere of a 184-piece exhibit of Roman art from the Louvre, its staff knew the time had come to think big. “This show is considered a blockbuster,” said Daniel Incandela, director of new media at IMA. “I knew we should develop some blockbuster content ideas.” So he and his colleagues pitched their grand plan to museum leaders: They would travel to Rome and Paris to develop an 11-part series of digital…
A&E: Welcoming audiences
This week, more thoughts on the Fringe and its attendees. It took me a while to figure out why the audiences at this year’s IndyFringe festival were so friendly. I don’t mean friendly as in walking up to you, shaking your hand, and asking how your family’s doing. I mean friendly in the sense that they seemed to warmly welcome whatever was being presented on stage. Don’t get me wrong: They didn’t love everything they saw or feel obligated to…
24-year-old developer tackles $30M deal
Jaron Garrett hasn’t developed anything like the 25-story tower he’s proposing. And he doesn’t come close to having the financial
muscle to pull off the $30 million project on his own. But Garrett is determined to sell his vision of transforming a downtown
eyesore at Washington and Pennsylvania streets into a twisting glass-and-steel apartment tower.
SPORTS: Feel-good sports stories are out there-just look
No question about it, the feel-good that sport can create has taken a beating this summer. There was Barry Bonds breaking the Major League homerun record under the strong suspicion of steroid use, NFL star Michael Vick’s guilty plea on federal dogfighting charges, the betting scandal involving NBA referee Tim Donaghy, and the revelation of match-fixing in professional tennis. Just to name a few. It could really get you down if you let it. Yet, I’ve written this before-sport provides…
Weak dollar boosting state manufacturers
The sliding value of the U.S. dollar is boosting financial results for some of Indiana’s big exporters. The dollar recently
hit its lowest point in 15 years against an index of other major currencies, such as the euro, the Chinese yuan and Canadian
dollar.
BRIAN WILLIAMS: Indiana needs to get energy-wise
As the 14th-mostpopulous state in the union, Indiana generates a gross state product that is 16th-largest of the 50 states. Unfortunately, despite significant investments in equipment and processes by manufacturers and public-policy efforts to encourage the attraction and growth of knowledgeand technology-focused industries, our economy remains energy-inefficient. In 2003, Indiana was the country’s sixthlargest consumer of energy per capita, according to the Indiana Energy Report. Ninety-seven percent of Indiana’s electricity is generated by coal. Indiana is the fifthlargest emitter of…
Pain of nurse shortages eases for hospitals: They enjoy fewer vacant positions, but still worry about coming boomer retirements
Good news. The shortage of hospital nurses isn’t quite as bad as it used to be. In the last five years, Indianapolis’ hospitals have chipped away quietly at the gap in nurse staffing that seized local and national attention earlier this decade. To achieve these modest declines in what hospitals call their nursing vacancy rates, they have revamped their recruitment and retention efforts at a time when nurses have more options outside hospitals than ever before. Nursing schools are working…
BEHIND THE NEWS: Deal-making buzz follows Cornelius to Bristol-Myers
Jim Cornelius had such success selling Guidant Corp. last year that analysts can’t stop speculating when he’ll pull off a mega-merger at B r i s t o l – M y e r s Squibb, the firm he now leads. How about pairing it, for instance, with Eli Lilly and Co., where Cornelius used to be chief financial officer? “We’re about the same size. Both Sidney Taurel and John Lechleiter are former colleagues and good friends. You can never…