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Maddox Hargett & Caruso in Fishers said it plans to team with three other law firms to sue Bear Stearns on behalf of investors in the Wall Street firm’s failed hedge funds. Bear Stearns has been buffeted in recent weeks as it announced that it has had to rescue two funds that lost money as […]
The federal government has canceled a contract with a Missouri developer chosen to build a new FBI field office in Castleton. The U.S. General Services Administration awarded the $38-million contract to Kansas City-based…
Noblesville’s Verizon Wireless Music Center is no longer for sale and will host a full lineup of shows in 2008, the facility’s general manager, Steve Finkel, told IBJ this afternoon. Many expected the 2007 season to be the swan song for the popular amphitheater. The venue owner, California-based Live Nation, put the 203-acre property on […]
The Indianapolis transportation engineering company Farrar Garvey & Associates Inc. has been acquired for an undisclosed price by Clark Dietz Inc., an engineering firm that handles civil, mechanical and electrical engineering. Clark Dietz’s eight offices are in Illinois, Indiana and Wisconsin. Its largest office is in Champaign, Ill., and its president operates from Chicago. Farrar […]
Noblesville’s Verizon Wireless Music Center is no longer for sale and will host a full lineup of shows in 2008, the facility’s general manager, Steve Finkel,…
A Purdue University survey shows that the average price of bare Indiana farmland has shot up 17 percent to 19 percent since June 2006. Poor-quality land averaged $2,991 an acre and high-quality averaged $4,407. Transitional land, shifting out of agriculture, rose 4.5 percent, to $9,520. Most of the increase was driven by higher prices for […]
A clergy group that’s trying to help a union organize an Indianapolis janitorial company planned to stage another protest at noon today in front of Market Tower downtown. To accommodate the protest, the city closed Market Street between Monument Circle and Illinois Street for two hours. The closing prompted building manager Kevin Branch, of Colliers […]
Whether you’re looking to save your money or spend it on booze, these nuggets might be of interest: D’Vine A Wine Bar plans to open next Tuesday in its new location along East 82nd Street. The wine bar is taking…
Indianapolis City Market said today that Chase Bank has given it a $700,000 conventional low-interest loan to enable it to finish a renovation that began in January. Including the new loan, the market has spent slightly more than $2 million on the project. “We’re ready to get folks in there and get this thing open,” […]
About 4.2 percent of gross assessed property value in Indiana-roughly $16 billion worth-is not taxed because it is in a tax-increment-financing district or covered by a tax abatement, both of which are intended to encourage economic development. The figures, which amount to $400 million of property taxes, were discussed yesterday by the Commission on State […]
Scotty Wise, the president
also is working on deals for new restaurants in Old Town Chicago and at EpiCentre, a mixed-use project in downtown Charlotte, N.C.
Billionaire investor Warren Buffett’s Berkshire Hathaway Inc. boosted its stake in WellPoint Inc. to 4.2 million shares in the second quarter, according to a regulatory filing. The stake represents less than 1 percent of WellPoint’s common stock. Even so, it’s a fourfold increase from the first quarter, when Berkshire reported that it had amassed 979,000 […]
First Indiana Corp. announced after the market closed yesterday that it will discontinue making consumer loans originated by a national network of mortgage brokers.The bank said it is withdrawing from that business immediately, which will lead to $535,000 in expenses in the third quarter. It had been selling most of the loans to investors.“The general […]
The $25.3 billion offer for Sallie Mae parent SLM Corp. is expected to gain shareholder approval tomorrow, but the buyers themselves might back out. The prospective investors are uncertain whether the deal will go through, Keefe Bruyette & Woods Inc. analyst Sameer Gokhale told Bloomberg. Early this month, the buyers, led by J.C. Flowers & […]
The abrupt departure of Steak n Shake Co.’s CEO yesterday following eight straight quarters of declining same-store sales might stoke investor speculation that the company will be sold. Shares of locally based Steak n Shake Co. rose slightly this morning on news of the leadership shuffle. The stock was up 11 cents, to $13.57, one […]
With so many new fitness chains entering the central Indiana market, will Hoosier become synonymous with svelte? The latest additions: A Minnesota fitness chain has plans for new locations in Avon, Brownsburg, Carmel,…
Shares of HhGregg Inc. shot up more than 7 percent this morning only to tumble back to the $13.50 range where the stock started the day. The swing followed the first earnings report the Indianapolis-based appliance and electronics retailer filed as a public company. Gregg said it turned a $2.9 million profit in its fiscal […]
American Commercial Lines Inc. directors have approved buying as much as $150 million of the company’s stock, the Jeffersonville parent of barge builder Jeffboat said today. The move follows a buyback of $200 million of the stock in July. The company has seen its shares slump to $22 from $39 in February due to weakness […]
HhGregg Inc. turned a $2.9 million profit in its fiscal first quarter ended June 30-also its first quarter to report financial results as a public company. The gain reversed a $1.4 million loss of a year earlier. The Indianapolis-based appliance and electronics chain attributed the improvement to strong growth in comparable stores and rising gross […]
