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German transmission maker Getrag Corporate Group and Chrysler Group said today the transmission plant they are building in a joint venture near Tipton will employ 1,400 when it comes online in 2009. That’s 200 more positions than had been discussed for months by local officials. Some of the positions will be filled by idled Chrysler […]
Is Indy losing its status as a chain-restaurant darling? Another popular restaurant has closed, this time the Bonefish Grill in Avon. Other area Bonefish Grill restaurants remain open. The concept is owned by…
Gov. Mitch Daniels and economic development officials this afternoon are expected to announce plans for a long-anticipated transmission plant in Tipton that eventually could bring 1,200 jobs. German transmission maker Getrag Corporate Group owns land near U.S. 31 and State Road 28 north of Indianapolis. Earthmoving has started. The project, estimated to cost $560 million, […]
Finish Line Inc.’s $1.5 billion acquisition of Hat World parent Genesco Inc. should result in annual savings of $15 million to $20 million for the combined company, executives said in a conference call today. Alan Cohen, CEO of Indianapolis-based Finish Line, said the company has had its eyes on Nashville, Tenn.-based Genesco for a long […]
A Bedford auto parts plant owned by Visteon Corp. will close by next April, eliminating 685 workers. The Van Buren Township, Mich., company informed employees of the decision Friday, according to the Times-Mail in Bedford. Visteon said the southern Indiana plant, which makes fuel-delivery modules for Ford, does not operate in the company’s core businesses […]
One of the companies promoting Hamilton County’s Saxony is also leasing a new town center project in Bloomington. The 575-acre development would sit northwest of the intersection of State Road 37 and…
Analysts appear to be much more bearish-and accurate-in their outlooks since giant Wall Street firms were forced to eliminate conflicts of interest four years ago. In 2003, former New York Attorney General Eliot Spitzer ordered 10 big firms to separate investment banking divisions from their research arms, aiming to eliminate a conflict that often resulted […]
Indianapolis-based The Finish Line Inc. today said it has agreed to buy Hat World Inc. parent Genesco Inc. for $54.50 a share in cash, or about $1.5 billion. The price represents a 37.7-percent premium over Genesco’s share price. The deal is expected to close in the fall. In May, Nashville, Tenn.-based Genesco, said its board […]
Local entrepreneur and philanthropist Lorene Burkhart can now add author to her array of titles. Her latest endeavor, Burkhart Network LLC, is a book-publishing enterprise that will use sales proceeds from the works she writes to support local not-for-profits. At 73, the idea to try her hand as an author came to Burkhart about three years ago, as she approached her seventh decade. “I thought, ‘Hmm, I probably have 20 good years left, so what am I going to do…
Some elements of the financial media might have you believe hedge fund managers are, to quote Tom Wolfe, “masters of the universe.” However, some recent blunders, particularly in the hedge-fund departments of the large investment banks, say otherwise. No firm encapsulates a golden-egg-laying machine on Wall Street more than Goldman Sachs. Yet for all of Goldman’s financial muscle, its own flagship hedge fund has recorded awful results over the past year and a half. Dubbed the Global Alpha Fund, Goldman’s…
A local printing powerhouse is trying to regain the confidence of its employees and customers after the CEO and his secretary
were involved in a profanity-laced physical altercation at work.
After 47 years of relative anonymity, the Indiana Transportation
Museum is steaming ahead with an effort to increase its visibility, attract new riders and eventually grow the organization.
Never has there been more static around Emmis Communications Corp. The big challenge these days is handicapping Jeff Smulyan’s next move. Will Emmis’ founder and CEO make another run at taking the radio station operator private? Largely on speculation of a deal, the company’s long-slumping stock (which trades under the ticker EMMS) is up 20 percent for the year. “Buy EMMS now before it’s bought,” CL King & Associates analyst James Boyle wrote in a recent report. Added Wachovia Capital…
As part of my ongoing search for things to make fun of, I’ve spent the last few years collecting Business Buzzwords-Biz Buzz, if you will. I now know why they’re called buzzwords: Because if you read or hear more than two or three in a single sen tence, you feel a buzzing sensation in the back of your skull. Followed shortly thereafter by a full-blown migraine. That is precisely what happened to me after receiving an e-mail in which two…
Better air access to Western cities key to Indiana’s technology and bioscience industries is high on the wish list for executives
and travel managers who responded to a survey commissioned by Indianapolis International Airport.
A methodical process is the right way to change CEOs, according to succession-planning experts. And Indiana needs more of
its major corporations to do so. A wave of aging executives is at or near normal retirement age–in Indiana and nationwide.
How well those companies’ CEOs pass the baton will have a big impact on their companies’ futures.
A go-to trade for the last few years is losing some of its sheen. This market-leading sector offered one of the true gems of investing: market-beating returns without a lot of extra risk. A change in that might send small ripples throughout your portfolio. The utility sector has been one of the few areas that led from the lows in early 2003 right up until a few weeks ago. While home builders dropped out more than a year ago and…
Robocop was sighted in Boone County a couple of weeks ago. It was the occasion of a sleepover graduation party at the home of Jack Trudeau, former quarterback for the Indianapolis Colts. To create a safe environment for his daughter and her Park Tudor School classmates at the party, Trudeau reportedly told police, he recorded the name of every guest and confiscated all car keys. Although he said he did not supply liquor, he was no doubt aware that some…
Service offers household help for elderly, infirm Julie Sullivan’s “a-ha” moment came when she was trying to coordinate home care for her elderly grandfather in Huntington while she was in Indianapolis. Even though, as a supervisor at Visteon, she had significant control over her schedule, Sullivan said she couldn’t visit as often as she needed. “I thought, ‘My word, what does the rest of the world do?'” she said. So Sullivan set out to help, starting a local franchise of…
