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Carmel-based Oak Street Mortgage, which not long ago was a high-flier poised to go public, filed for Chapter 11 bankruptcy this morning in federal court. Oak Street in December sold most of its assets to Kansas City, Mo.-based Novastar Financial Inc. amid a meltdown of the sub-prime mortgage market. Subprime lenders like Oak Street make […]
Attendance at Conner Prairie’s first two events of the summer has shot up, boding well for total attendance numbers in 2007-the museum’s second year of independence from Earlham College. More than 8,000 guests showed up for Civil War Days, a two-day reenactment event, in late May, a 166-percent increase over the previous year, when rainy […]
Not that this will come as much of a surprise to cynical motorists, but gasoline prices are likely to stay high this summer, according to oil refining firm Countrymark Cooperative LLP. Yes, it’s the usual reasons-refinery problems, geopolitical tensions, OPEC production restrains and summer travel demand. And, yes, the hurricane season could disrupt production. “The […]
The Metropolitan Plan Commission in Muncie last night unanimously approved rezoning 35 acres for a life science facility that would cost $70 million and create up to 170 jobs. However, the identity of the company or organization planning the project wasn’t made public, according to The Star-Press of Muncie. Speculation is circulating in the city […]
Since crews finished clearing the old Atlas Supermarket site in March, the corner has been conspicuously quiet. The lack of construction work has helped fuel speculation that the deal for a Fresh…
A private college system plans to move into the Lexington project at Meridian and 12th Streets downtown. Brown Mackie College has executed a lease for 25,000 square feet in the 1921 building that…
Lauth Property Group may have ended its contentious battle with Bloomington billionaire Bill Cook this week to develop the $382 million French Lick casino and hotel project, but its real battle involving the Orange County resort may have just begun. The Indianapolis-based developer still faces a breach-of-contract claim seeking $100 million by Chicago-based Merit Management, […]
Chuck Schalliol, the state’s first budget director, will join Baker & Daniels next month, the Indianapolis law firm said today. The former Eli Lilly and Co. executive and BioCrossroads president, who is trained as a lawyer, will focus on life sciences, venture capital and corporate finance.
A group of private equity firms has upped its offer to buy Biomet Inc. after a Maryland shareholder advisory firm urged shareholders to reject the original bid of $10.9 billion. Biomet said today it accepted the $11.4 billion offer from LVB Acquisition LLC, Goldman Sachs & Co., Kohlberg Kravis Roberts and Texas Pacific Group. The […]
Minor injuries sustained by Poindexter Excavating Inc. employees on Friday resulted in the Indianapolis company stopping site work at the Honda Motor Co. assembly plant at Greensburg until Tuesday. A piece of equipment hit a truck, although the exact cause couldn’t be determined, according to the Greensburg Daily News. Work has resumed on the $550 […]
First-quarter sales at stores open at least a year fell 3.9 percent for Finish Line, the Indianapolis shoe and clothing retailer reported today. However, its Man Alive stores saw a 0.6-percent increase. Finish Line said it anticipates reporting a loss of 9 to 11 cents per share when it reports on June 28 financial results […]
Commissioners in Shelby County have voted unanimously to not pay $1,431 in matching funds to Indianapolis Metropolitan Planning Organization. One commissioner, Tony Newton, told the Shelbyville News that Marion and Hamilton counties “created their own problems up there, and they are trying to get other counties to bail them out.” The organization, which is studying […]
Verus Partners LLC of Rosemont, Ill., has filed a request to ask the Hancock County Area Plan Commission to rezone 228 acres near Mount Comfort Airport to light industrial from institutional. The Chicago-area commercial real estate development company said the property no longer fits into the airport’s long-term plans, and that it wants to launch […]
The warring partners in the $382 million French Lick Resort and Casino are parting ways. Locally based Lauth Property Group has agreed to sell its 50-percent interest in the venture to an affiliate of Bloomington billionaire Bill Cook, the companies announced Wednesday night. The deal would give Cook affiliates full ownership of French Lick Resort […]
First Indiana Corp., the parent of First Indiana Bank, has fired KPMG LLP as its external auditor and hired BKD LLP, the bank said today. There was no disagreement with KPMG that would have resulted in a reference in financial statements for either 2005 or 2006, the bank said in a statement. Spokeswoman Beth Copeland […]
San Francisco-based Oxford Lodging Advisory & Investment Group said today it has bought the 407-room Adams Mark Hotel on Executive Drive near Indianapolis International Airport for an undisclosed price. Other Adams Mark properties acquired by Oxford from St. Louis-headquartered HBE Corp. are in St. Louis, Denver, Dallas and Buffalo, N.Y. The deal, which is expected […]
The Columbia Club has hired Maarten van Wijk as general manager and chief operating officer to replace Edward Albany. Albany stepped down early this year after the not-for-profit hired a St. Louis consulting firm to help it reverse declining membership and other problems. Van wijk was general manager of the Four-Star Mobile award Hotel Hershey […]
In the market for a 20,000-square-foot mansion with 4 bedrooms, 7 full baths and 5 partial baths? Too late! The former home of Dr. Donald Perez and his wife Karen, built in…
