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Indiana has been in recession since late last year but is on a trajectory to climb out this fall, according to Moody’s Economy.com, a national forecasting company. A computer model based on employment and industrial production also shows that the manufacturing-intensive metro areas of Anderson, Muncie, Elkhart and Michigan City are in recession, Economy.com said. […]

A Texas-based investment group disclosed in a regulatory filing this morning that it has amassed a 5.8-percent stake in The Steak n Shake Co. and wants two of its representatives added to the struggling company’s board. The group includes San Antonio-based Lion Fund and Western Sizzlin Corp., a steakhouse chain based in Virginia. According to […]

Indianapolis-based Marbaugh Reprographics Supply Co. has been bought by Global Imaging Systems Inc., a Tampa, Fla., firm that was acquired by Xerox Corp. in May. Marbaugh sells and services wide-format copiers. The downtown company also scans, prints and offers other reproduction services. Former Marbaugh co-owner Brad Clough will be vice president and general manager.

Patricia Maryland, chief operating officer of the Indianapolis region of St.Vincent Health and president of St.Vincent Indianapolis Hospital, has taken a new position overseeing marketing in Michigan for Ascension Health. Ascension Health, the nation’s largest Catholic and not-for-profit health system, is based in St. Louis. St. Vincent Indianapolis Hospital will name an interim president.

Indiana ranks 36th in this year’s annual “Cost-of-Doing-Business,” an index compiled by the Milken Institute, a California think tank. Last year, Indiana placed 33rd. The ranking is a modest win for Indiana Gov. Mitch Daniels, who has focused much of his effort on lowering the cost of Hoosier business. The index considers states’ costs of […]

Westfield town councilors have unanimously approved an expansion of multi-use development Eagle Station to 997 acres, up from the 856 acres approved last year. The project now could include 2,230 single-family houses, 800 apartments and a number of businesses, according to the Noblesville Daily Times. The developer, Westfield-based Wilfong and Kreutz Land Development LLC, has […]

Iowa Speedway today at the Iowa State Fair announced a two-year extension with the Indy Racing League to host the Iowa Corn Indy 250 through 2009. The Iowa Corn Growers Association will remain as title sponsor for the races. The announcement was made by ABC/ESPN racing analyst and former NASCAR driver Rusty Wallace, who designed […]

Hundreds, and possibly thousands, of auto parts suppliers could be forced out of business within five years as Detroit automakers continue downsizing to bring costs under control, Farmington Hills, Mich., consultant Laurie Harbour-Felas told Bloomberg. “Some of these suppliers will go into bankruptcy and be bought up in pieces; some will just go away,” Harbour-Felas […]

The U.S. Air Force Research Laboratory has awarded Rolls-Royce Corp. a contract valued at upward of $296 million to develop jet engines for a variety of military airplanes. General Electric was awarded a similar contract after a competition that fielded several proposals. The Air Force’s Adaptive Versatile Engine Technology program aims to develop engines that […]

Profit at Hurco Cos. Inc. soared 36 percent in its third fiscal quarter due to vibrant sales and service fees, particularly in Europe. The Indianapolis-based maker of machine tools said the $5.2 million profit in the period ended July 31 also was driven by a big increase in orders in Europe and North America. A […]

Massachusetts-based Cape Air has scheduled a meeting Aug. 20 in Indianapolis with airport officials from Evansville and South Bend to discuss starting commuter flights between the two cities and Indianapolis. An official of Evansville Regional Airport told the Evansville Courier & Press that the planes used by Cape Air, nine-passenger Cesna 402s, would be ideal. […]

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 […]

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 […]

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 […]