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Allison Transmission has sold $1.1 billion of unsecured notes to help pay for Carlyle Group and Onex Corp.’s acquisition of the transmission maker from General Motors Corp., according to Bloomberg. General Motors said June 28 that it would sell Indianapolis-based Allison for $5.6 billion to Carlyle, based in Washington, D.C., and Onex, of Toronto. Allison […]

The economy will improve slightly in 2008 and inflation will edge down slightly, Federal Reserve Bank Chairman Alan Bernanke told Congress this morning. Growth will rise 2.25 percent to 2.5 percent this year, according to a forecast issued today by fed governors and presidents of district banks. Next year, the economy will expand 2.5 percent […]

Jim Alling, a 1983 graduate of DePauw University in Greencastle, has been named president of Starbucks Coffee International, the Seattle company announced today. Alling takes over for Martin Coles, who was promoted to chief operating officer of the Starbucks parent company. Alling, who jumped to Starbucks from Nestle USA in 1997, most recently was president […]

Odds of house prices in the Indianapolis area dropping further in the next two years are low, according to a report by PMI Mortgage Insurance Co. The metro area has an 8.4 percent chance of seeing its average sale price decline by the middle of 2009, the Walnut Creek, Calif., company said. That’s optimistic compared […]

First Indiana Corp. said today it would delay its second-quarter earnings release because BKD LLP has withdrawn as its auditor. The release had been scheduled on July 19. BKD was hired June 4 when First Indiana announced it had booted KPMG LLP as auditor. On July 9, Milwaukee-based Marshall & Ilsley Corp. said it would […]

A proposal by Indianapolis developer Paul Kite to build a retail center anchored by a Target in McCordsville has been rejected by the community’s town council because it’s in an area zoned residential. The 63-acre project would have been built at the southeast corner of county roads 1000 North and 600 West in Hancock County, […]

Dow Jones & Co., which publishes The Wall Street Journal, and News Corp. have agreed to sale terms, the newspaper reported late last night. Dow Jones’ board will meet this evening, although the newspaper said it is unclear how the Bancroft family, which owns 64 percent of Dow Jones’ voting power, will react. The price […]

Two public relations and advertising firms have been hired by the troubled Indiana Pacers a month after the organization brought in Jim Morris as a special adviser. The local offices of Publicis and Optimedia, both owned by Paris-based Publicis Groupe SA, will provide advertising, strategic planning and communications services, the Pacers said today. The contract […]

Bill Stephan has been named vice president for engagement at Indiana University, where he wrote an economic development plan three years ago. The announcement was issued today by IU and Clarian Health Partners, where Stephan is senior vice president of community relations and corporate communications. Stephan will be responsible for leading economic development initiatives of […]

Indianapolis-based Vector Insurance Services LLC has been acquired by MajescoMastek of Edison, N.J., for an undisclosed price. Vector, led by founder and CEO Harold Apple, has 30 employees providing policy acquisition, administration, and processing to customers in the North American life insurance industry. MajescoMastek is the U.S. subsidiary of Mastek, a technology giant headquartered in […]

The Indiana Economic Development Corp. has named Charles E. Sparks as business development director. Sparks previously led the central Indiana office for the state’s economic development outreach. Sparks replaces longtime development director Christopher Pfaff, who resigned in May to become director of the Center for Business Support and Economic Innovation at Indiana State University in […]

In his seven years as president of Purdue University, Martin Jischke exceeded some of the lofty goals he set but missed others, according to an analysis by the Journal & Courier of Lafayette. Jischke, whose last day was yesterday, raised $1.7 billion in private funds-well over the goal of $1.3 billion. He also made sweeping […]