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Pilgrim International to merge with another RV maker
Private equity firm Monomoy Capital Partners LP has acquired Middlebury-based Pilgrim International Inc. and plans to combine it with another recreational vehicle maker it owns, Washington-based Western Recreational Vehicles Inc. The merged company will be headquartered in Middlebury. No impact to the 750 workers the two companies employ is expected. New York-based Monomoy Capital did […]
ATA maintenance flying out of Indianapolis
ATA Airlines plans to discontinue line maintenance in Indianapolis by Nov. 1 and appears ready to deactivate its Indianapolis maintenance operations entirely. The discontinuation of line maintenance-which involves quick, overnight-type aircraft work rather than overhauls-underscores the increasing irrelevance of Indianapolis to the locally based airline. Once the busiest carrier at Indianapolis International Airport, ATA ended […]
Ice Miller expands in Chicago suburbs
Indianapolis law firm Ice Miller LLP has expanded its presence in DuPage County, Ill., and is staffing its new office there with 14 attorneys absorbed from another practice in suburban Chicago. The lawyers from Wildman Harrold in Lisle bring a broad base of experience and represent a diverse clientele, including Fortune 500 companies, private businesses, […]
iPhone sales strong in first weekend
Apple Inc. sold about 200,000 iPhones in the first 24 hours the product was on store shelves. By late Sunday, 520,000 gadgets had sold. The iPhone, which also works as an iPod music player and a wireless Web device, went on sale the evening of June 29. It sells for $500 for the 4-gigabyte version […]
CTS approves buyback of 2M shares
Elkhart- based CTS Corp. today said it plans to repurchase as many as 2 million of its outstanding shares of common stock. The shares represent about 6 percent of the company’s 36 million outstanding shares. Details related to the timing and price have not been determined. Shares of the company, which makes electronic components and […]
Kimball lands $170M contract
Jasper-based Kimball International has won a contract to produce automobile steering systems for the European market. The value of the five-year contract is about $170 million. Production will begin next year at an existing Kimball Electronics Group facility in Poland. The new business is related to the next generation of electronically power-assisted steering. Kimball-the state’s […]
Developer envisions Penn Centre
Plans are taking shape for a major hotel, residential and restaurant development across from Conseco Fieldhouse. South-side developer J. Greg Allen is proposing a project that would stretch from Maryland Street to…
A&E: ‘School’ most likely to succeed
If there’s anyone in your household under 16, you’ve no doubt heard about the phenomenon that is “High School Musical.” The little Disney-Channelmovie-that-could has aired in what seems like a permanent loop on TV, spawned the best-selling album of 2006 (blowing past the likes of “Nickelback” and Justin Timberlake), and launched concerts for its cast, a touring stage version, and even an ice-show version. So far, Indy has been spared the skates. In a canny business move, Disney tossed out…
INVESTING: After the iPhone, will Apple try a video game device?
My son wants a portable PlayStation. Or a GameBoy. Or anything he can fit in his hand and play video games on and be like all the other kids in the hood. And if he goes all summer with great behavior and a good attitude, he probably will get one. The other night during dinner, my wife asked if Apple makes a video game player. No, I answered, but I have to believe Steve Jobs is working on it, and…
BEHIND THE NEWS: Why Finish Line is betting company on Genesco buyout
Here’s a paradox: If Finish Line Inc. CEO Alan Cohen hadn’t run his company with such a conservative hand through the years, he wouldn’t have been in a position to launch the audacious acquisition of Genesco Corp.-a retailer with nearly twice the stock-market value. The fact that Finish Line carried no debt-a strategy that irked some shareholders as overly cautious-meant the Indianapolis firm had the financial wherewithal to pull off the $1.5 billion buyout. In a report, BB&T Capital Markets…
Experience keeps fireworks biz in demand
Phil Ramsey, 65, knows what he’s doing in the fireworks business–he’s been working fireworks shows as a volunteer since 1968
and founded Frankfort-based Ramsey Pyrotechnics Inc. in 1982. When he’s not battling Mother Nature, Ramsey is a grain farmer.
City steps up effort to help immigrants: Mayor’s wife spearheading program to better acclimate newcomers
The burgeoning number of immigrants arriving in Indianapolis have a new source available to help them navigate unfamiliar surroundings and the kaleidoscope of social support systems available. The Immigrant Welcome Center is a program launched in October that uses volunteers dubbed “natural helpers” to link foreign newcomers to such basic needs as health care, government and transportation services. Although the effort is nearly 9 months old, it’s just now getting up to speed as organizers are interviewing candidates to lead…
Commentary: Don’t like new taxes? Voter, blame thyself!
A lot of people across Marion County are going to be upset this month as their property tax bills start landing on their doorsteps. Taxes are expected to increase an average of 24 percent. Although that means there will be some people with tax increases much less, there will be a lot more with increases way above that number. I’ve already heard stories of 30-percent increases in tax bills, 50-percent increases, and one poor soul told me he got a…
Insurers hope new law boosts their speed to market: But some entrepreneurs fear dereg could burn them
Small businesses should be able to purchase new kinds of property, casualty and Worker’s Compensation insurance quicker than in the past under a new state law that delays regulatory oversight of new products. But some business owners say the law puts them at risk of buying insurance that includes surprise clauses — since regulators won’t be checking them in advance. The law rolls back regulations that slowed insurance sales in Indiana by effectively requiring insurers to clear new products with…
Lilly rescues tennis tournament
A major sponsorship upgrade by local drugmaker Eli Lilly and Co. and a quartet of new corporate partners has helped the Indianapolis
Tennis Championships stem its losses after the departure of its title sponsor.
New Chamber forum lets startups have a shot
The Greater Indianapolis Chamber of Commerce is developing a new weapon for local startups-Slingshot, a business-networking
forum that will give budding entrepreneurs the opportunity to swing sales meetings directly with high-ranking corporate executives.
PROFILE: Georgetown Chiropractic Clinic PC: Demand spurs chiropractor to grow clinic Massage, Pilates, yoga classes round out northwest-side practice
P RO F I L E Georgetown Chiropractic Clinic PC Demand spurs chiropractor to grow clinic Massage, Pilates, yoga classes round out northwest-side practice If life gives you a pain in the neck, chances are you’ve sought relief from a specialist at working out the kinks-like Georgetown Chiropractic Clinic PC. Chiropractic use has tripled in the last two decades, according to research published in the Annals of Internal Medicine. To accommodate some of that growth locally, Georgetown Chiropractic has doubled…
Downtown hotel towers in works
South-side developer J. Greg Allen is pitching a massive project along Pennsylvania Street downtown that includes hotel towers–one
28 stories, the other 17–to be built on property now used mainly for surface parking.
Biz magazine seeks boost from Recorder: Newspaper’s backing should help minority business publication grow
Carolene Mays exited the production area of The Indianapolis Recorder after applying her own elbow grease to ensure a new deadline is met and reflected on the increasingly hectic pace engulfing the newspaper. The publisher of one of the nation’s oldest and most prominent black newspapers is used to carrying a heavy load, considering she moonlights part time as a Democratic member of the state House of Representatives. Yet, she is in uncharted waters as the new owner of Indiana…