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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 […]
Despite alternately hitting the gas and the brakes, the recreational vehicle industry still could be on track for a solid year, according to the South Bend Tribune. Dealers are selling of a glut of inventory they accumulated after makers last year offered deals to keep their plants humming. As a result, factories are getting fewer […]
The man who spent the last five years retooling the menu and operations of Indianapolis-based Steak n Shake Co. is leaving the struggling hamburger chain. Peter Dunn is out as CEO, the company said today. Chairman Alan Gillman, who joined Steak n Shake in 1992 as CEO, will take the helm again on an interim […]
Almost 50 years ago, before the City-County Building or Interstate 65, city leaders and planners designed a master plan for the Central Business District. The 42-page document provides some fascinating…
Zionsville Golf Course has agreed to be bought by the town for slightly more than $1.5 million, according to the Daily Sun of Lebanon. The nine-hole course lies directly north of Zionsville’s center. Owner Mike Morgan told the newspaper that he and his wife, Patty, wanted the course to remain as green space despite offers […]
Shares of locally based Steak N Shake Co. shed nearly 9 percent of their value this morning, hitting a 52-week low of $14.07. The drop comes on the heels of a dip in third-quarter profit and lowered guidance revealed Aug. 10. Shares had traded at $16.89 on Aug. 7, responding to news that an activist shareholder acquired a 9.5-percent […]
A new headquarters for Gresk & Singleton Law Firm and Gresk Realty has been “coming soon” northwest of Delaware and 10th streets for the better part of two years. What…
GilChrist & Soames, an Indianapolis company that supplies toothpaste to hotels across the globe, has started recalling toothpaste made in China because samples were found to be contaminated with diethylene glycol. The chemical is used as a coolant, and in cork, printing ink and other products, and has been involved in several mass poisonings. The […]
Indianapolis-based Emmis Communications Corp. and the Indiana High School Athletic Association have started a Web site for sports coverage, the organizations said today. The free site, IHSAASports.org, includes live and archived video and audio as well as scores, video interviews, stories and schedules. Other features include coach of the week and player of the week. […]
Two years after launching a plan to outsource 1,017 jobs through IBM, NiSource Inc. is 144 positions short of its goal, according to The Times of Munster. This spring, the Merrillville gas and electric utility announced to workers that some of the jobs would return because results hadn’t met expectations. NiSource executives also told Wall […]
The economy constantly is serving up complex puzzles for us to solve. Have energy prices peaked? How much longer will mortgage markets continue to bleed? How will the dollar’s decline affect the low prices for imported goods? These are complex issues, and some of us actually earn a living trying to sort them all out. But sometimes we need to step away and address the simpler questions-such as: How does the economy grow? Of course, some might say “not at…
Before they had fancy suits or fast cars, the four owners of Lauth Property Group were resourceful teen-agers, busy finding ways to make money. Chairman Bob Lauth, President Michael Curless and CEO Greg Gurnik each started neighborhood lawn-care businesses. The company’s treasurer and chief accounting officer, Larry Palmer, hawked programs at the Indianapolis Motor Speedway. At the time, their hard work and entrepreneurial instincts helped scrounge up date money. In the last few years, it’s helped them turn Indianapolis-based Lauth…
On a bookshelf in my office, I display a box of Kraft Macaroni & Cheese, three packs of Benson & Hedges cigarettes and the program from my late wife’s memorial service. I display the pasta because, until the company was spun off earlier this year, Kraft Foods was part of Altria Group. I display the Benson & Hedges because that brand is part of Phillip Morris USA, which is also part of Altria Group. I display the memorial-service program because…
