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Patrick Industries Inc. has agreed to buy Adorn LLC for an undisclosed price. Both companies are based in Elkhart and make components for recreational vehicles and manufactured houses. Publicly-traded Patrick generated $348 million in revenue last year and Adorn, $240 million. Patrick said the acquisition, which is expected to close before summer, will add synergies […]
Vectren Corp., the Evansville-based utility that supplies electricity to much of central Indiana, will give customers the option to buy power originating from wind generators in Benton County near Lafayette. Vectren plans to buy 30 megawatts a year from the farm, enough for 8,000 homes, according to the Evansville Courier & Press. The price will […]
A new contract at Fort Wayne Foundry Corp. was ratified by United Auto Workers Local 1101 members Tuesday, but they aren’t happy. The machining division workers will pay more for insurance but receive no wage increases, according to The Journal Gazette of Fort Wayne. Still, the union, which represents 110 of the division’s 150 employees, […]
Cingular Wireless hopes to announce this month that it will create 500 to 600 jobs in Evansville, according to a source familiar with the discussions. The call center will handle contacts from customers. However, major pieces of the deal have not been finalized, the source said. Cingular has been acquired by AT&T of San Antonio, […]
A new restaurant slated to open April 30 within the Conrad Indianapolis hotel will honor legendary Hoosiers on its mahogany-paneled walls. The Capital Grille has commissioned portraits of eight prominent Indiana residents: Indianapolis Motor Speedway savior Anton “Tony” Hulman Jr.; Eli Lilly, the former Eli Lilly and Co. president and grandson of the company’s founder; […]
The swelling housing recession and slower business spending are likely to result in 2007 economic growth slipping to 2.4 percent, the weakest pace in five years, according to Bloomberg. Mortgage defaults and rising foreclosures threaten the housing market, and falling business investment might restrict the number of jobs companies are willing to create, said 29 […]
The president and CEO of Evansville-based Escalade Inc. died yesterday of an apparent aneurysm. Daniel A. Messmer, 53, had led the sporting goods manufacturer and marketer since August. He joined the company in 1976. “We are all shocked and saddened by the unexpected passing of Mr. Messmer,” said Terry Frandsen, Escalade’s CFO, in a written […]
Keronite International Ltd., a British company with technology for putting hard surfaces on metals, has asked Greenwood for tax incentives to establish a plant with 29 jobs, according to the Daily Journal of Franklin. The plant would be located at Interstate 65 and Rocklane Road.
Tipton, the community north of Hamilton County, might become home to a Getrag Corporate Group transmission plant if the German company follows through on a plan it filed recently with the Tipton County Plan Commission. The plan calls for building a total of 700,000 square feet on 228 acres at U.S. 31 and State Road […]
Shelbyville and Shelby County have launched a marketing campaign in Marysville, Ohio, hoping to attract Honda workers moving to Indiana to work at the automaker’s new plant near Greensburg. The Shelby County Development Corp. began running full and half-page ads in the Marysville Journal-Tribune on March 30. The ads direct readers to a Web […]
Joblessness is ebbing in Indiana, but the reason might be driven more by people dropping out of the labor force than by workers soaking up new jobs. The state’s unemployment rate stayed stubbornly above 5 percent for four years. In the past few months, though, the rate mostly has stayed below 5 percent, U.S. Bureau […]
Mutual Bancorp Inc. of Sidney, Ohio, has been sold to Richmond Mutual Bancorporation for $19.8 million in cash, the parties said today. Richmond Mutual is the parent of First Bank Richmond in the eastern Indiana city and American Trust Federal Savings Bank in Peru. The Ohio institution has four offices north of Dayton, Ohio The […]
Krom River Partners, Mother Earth Investment AG and other investment firms are snapping up corn contracts as prices slip, according to Bloomberg. Corn prices fell after a March 30 report showed farmers plan a big increase in planting. However, large investors are turning bullish because the increase is not as large as traders expected. […]
Indianapolis is growing faster than Columbus, Ohio, and that concerns officials in the Ohio city, according to the Columbus Dispatch. Metro Indianapolis’ population increased 9.2 percent between 2000 and 2006 compared to 7 percent for the Columbus area; also, Indianapolis’ job numbers swelled 5.5 percent vs. Columbus’ 1.8 percent. Though Columbus has 59,500 more residents—1.73 […]
When IBJ newsgathering partner WISH-TV Channel 8 and cross-town rival WTHR-TV Channel 13 each won a Peabody award last week, it was a rare event for any television market, let alone Indianapolis, the 25th-largest television market. Only New York, Boston and Chicago also have seen two local stations win the prestigious award in the same […]
Eli Lilly and Co.’s optional severance package has been accepted by 200 of the 1,000 workers at its Tippecanoe Laboratories in Lafayette, according to The Journal & Courier of Lafayette. The Indianapolis drugmaker said in January it would offer the buyouts to 250 at the Lafayette site because it had too much capacity in biomolecules. […]
ISA Forensics Digging up dirt Forensics firm recovers evidence from computers, analyzes audio Much like his counterparts on TV’s “CSI” or “Law & Order,” Darren Miller ferrets out forensic information in pursuit of justice. But unlike his fictional colleagues who work for prosecutors, Miller and his ISA Forensics team work mostly with defense attorneys, looking for exculpatory and incriminating evidence that will help or hurt their clients. Their crime scene: computers, tapes, disks and other data devices. Using the same…
The latest data from the U.S. Bureau of Economic Analysis show that Indiana ranks 33rd in per capita personal income. Fifty years earlier, in 1956, Indiana ranked 17th in the nation. Our state is in long-term economic freefall and we suffer with representatives who piddle away their time on raising revenue through gambling. Per capita personal income in Indiana has not been on par with the nation since 1966. We have a record of ongoing decline, interrupted briefly from time…
St. Francis Hospital officials have found that improving care and cutting costs to treat heart attack patients comes at an unexpected price. A new program cut the hospital’s time to treat patients and reduced the size of the heart attack-saving $9,400 per admission. But reimbursement by insurance companies dropped $9,715, resulting in the hospital losing $315 per admission. “The pay for quality and pay for performance issue under the current reimbursement structure is not designed to reward quality of care,”…
The screen comes alive with the tale of a woman trying to track down her on-thelam husband even as she deals with her imprisoned brother and a grown son addicted to porn. The next night features a violence-packed trilogy of films about warring Asian gangs. Toto, we’re not at the Heartland Film Festival anymore. No, the 191 films set to be screened at the Indianapolis International Film Festival starting this month are grittier-helping it build a reputation for attracting a…
