A ‘bounce house’ to rule them all
This has to be the coolest use of warehouse space yet. A Fishers company called BounceZone has leased 12,000 square feet northwest of 146th Street and Cumberland Road in Noblesville with plans…
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Bad news causes stock in Jeffboat parent to sag
American Commercial Lines Inc. shares fell nearly 10 percent yesterday to close at $24.50 after the Jeffersonville barge builder over the weekend and yesterday explained concerns it reported last week. Grain shipments fell because the company didn’t compete for some low-priced shipments, and overtime pay shot up as 400 new workers are trained to boost […]
Powerway acquires rival software maker
Indianapolis-based manufacturing supply chain software maker Powerway Inc. said today that it has bought Cohesia Corp., a Cincinnati firm that makes software for Web-based manufacturing quality control, primarily for the aerospace industry. Terms were not disclosed. Powerway’s primary business is providing software for automakers, particularly the North American Big Three. Powerway plans to retain Cohesia’s […]
UPDATE: Getrag to hire 1,400 at new Tipton plant
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 […]
Bonefish Grill in Avon closes
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…
Getrag announcement planned this afternoon
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, […]
UPDATE: Genesco buy to save Finish Line $15M-20M
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 […]
Visteon to close Bedford plant, lay off 685
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 […]
Town Center eyed for Bloomington
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…
Bearish analysts shown to be good for investors
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 […]
BREAKING: Finish Line agrees to buy Hat World parent
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 […]
Civic leader’s latest chapter: kid’s books: Lorene Burkhart plans publishing business that will benefit local not-for-profits
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…
BULLS & BEARS: Much-touted hedge funds sometimes go badly awry
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…
Office fight puts print firm on spot
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.
Transportation museum rolls out expansion plan
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.
Smulyan keeps poker face as analysts buzz about future:
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…
FUNNY BUSINESS: Biz buzz like “at the end of the day” puts me at the end of my rope
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…
Airport survey: Businesses want nonstops to Western cities
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.
Companies must prepare for CEO turnover
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.